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Quad/Graphics

NYSE:QUAD
Snowflake Description

High growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
QUAD
NYSE
$389M
Market Cap
  1. Home
  2. US
  3. Commercial Services
Company description

Quad/Graphics, Inc. provides marketing solutions worldwide. The last earnings update was 81 days ago. More info.


Add to Portfolio Compare Print
  • Quad/Graphics has significant price volatility in the past 3 months.
QUAD Share Price and Events
7 Day Returns
-7.3%
NYSE:QUAD
0.5%
US Commercial Services
-1.2%
US Market
1 Year Returns
-62.2%
NYSE:QUAD
10.5%
US Commercial Services
3.4%
US Market
QUAD Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Quad/Graphics (QUAD) -7.3% -17.3% -38% -62.2% -70.4% -64.3%
US Commercial Services 0.5% 0.2% 4.7% 10.5% 51% 80.6%
US Market -1.2% 1.2% 1.7% 3.4% 35.5% 41.6%
1 Year Return vs Industry and Market
  • QUAD underperformed the Commercial Services industry which returned 10.5% over the past year.
  • QUAD underperformed the Market in United States of America which returned 3.4% over the past year.
Price Volatility
QUAD
Industry
5yr Volatility vs Market
Related Companies

QUAD Value

 Is Quad/Graphics undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Quad/Graphics to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Quad/Graphics.

NYSE:QUAD Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 14.3%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:QUAD
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.67
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.672 (1 + (1- 21%) (327.5%))
1.945
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.94
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.945 * 5.96%)
14.32%

Discounted Cash Flow Calculation for NYSE:QUAD using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Quad/Graphics is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:QUAD DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 14.32%)
2020 268.35 Analyst x2 234.74
2021 307.89 Est @ 14.73% 235.58
2022 342.17 Est @ 11.13% 229.01
2023 371.63 Est @ 8.61% 217.57
2024 397.08 Est @ 6.85% 203.35
2025 419.36 Est @ 5.61% 187.86
2026 439.27 Est @ 4.75% 172.12
2027 457.47 Est @ 4.14% 156.80
2028 474.48 Est @ 3.72% 142.25
2029 490.72 Est @ 3.42% 128.69
Present value of next 10 years cash flows $1,907.97
NYSE:QUAD DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $490.72 × (1 + 2.73%) ÷ (14.32% – 2.73%)
$4,348.98
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $4,348.98 ÷ (1 + 14.32%)10
$1,140.53
NYSE:QUAD Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,907.97 + $1,140.53
$3,048.50
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $3,048.50 / 51.54
$59.15
NYSE:QUAD Discount to Share Price
Calculation Result
Value per share (USD) From above. $59.15
Current discount Discount to share price of $7.54
= -1 x ($7.54 - $59.15) / $59.15
87.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Quad/Graphics is available for.
Intrinsic value
>50%
Share price is $7.54 vs Future cash flow value of $59.15
Current Discount Checks
For Quad/Graphics to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Quad/Graphics's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Quad/Graphics's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Quad/Graphics's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Quad/Graphics's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:QUAD PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-0.21
NYSE:QUAD Share Price ** NYSE (2019-07-19) in USD $7.54
United States of America Commercial Services Industry PE Ratio Median Figure of 46 Publicly-Listed Commercial Services Companies 22.93x
United States of America Market PE Ratio Median Figure of 3,080 Publicly-Listed Companies 17.88x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Quad/Graphics.

NYSE:QUAD PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:QUAD Share Price ÷ EPS (both in USD)

= 7.54 ÷ -0.21

-35.67x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Quad/Graphics is loss making, we can't compare its value to the US Commercial Services industry average.
  • Quad/Graphics is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Quad/Graphics's expected growth come at a high price?
Raw Data
NYSE:QUAD PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -35.67x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
126.5%per year
United States of America Commercial Services Industry PEG Ratio Median Figure of 34 Publicly-Listed Commercial Services Companies 1.64x
United States of America Market PEG Ratio Median Figure of 2,119 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Quad/Graphics, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Quad/Graphics's assets?
Raw Data
NYSE:QUAD PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $7.62
NYSE:QUAD Share Price * NYSE (2019-07-19) in USD $7.54
United States of America Commercial Services Industry PB Ratio Median Figure of 86 Publicly-Listed Commercial Services Companies 1.83x
United States of America Market PB Ratio Median Figure of 5,245 Publicly-Listed Companies 1.79x
NYSE:QUAD PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:QUAD Share Price ÷ Book Value per Share (both in USD)

= 7.54 ÷ 7.62

0.99x

* Primary Listing of Quad/Graphics.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Quad/Graphics is good value based on assets compared to the US Commercial Services industry average.
X
Value checks
We assess Quad/Graphics's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Commercial Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Commercial Services industry average (and greater than 0)? (1 check)
  5. Quad/Graphics has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

QUAD Future Performance

 How is Quad/Graphics expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
126.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Quad/Graphics expected to grow at an attractive rate?
  • Quad/Graphics's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Quad/Graphics's earnings growth is expected to exceed the United States of America market average.
  • Quad/Graphics's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:QUAD Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:QUAD Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 126.5%
NYSE:QUAD Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 35.1%
United States of America Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 15.4%
United States of America Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 5.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:QUAD Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:QUAD Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 7,739 453 67 2
2019-12-31 5,518 322 27 2
NYSE:QUAD Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 4,231 200 -11
2018-12-31 4,194 261 9
2018-09-30 4,176 211 85
2018-06-30 4,153 272 81
2018-03-31 4,100 283 78
2017-12-31 4,131 344 107
2017-09-30 4,166 272 89
2017-06-30 4,217 245 81
2017-03-31 4,286 303 67
2016-12-31 4,330 354 45
2016-09-30 4,445 429 -2
2016-06-30 4,524 444 -566

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Quad/Graphics's earnings are expected to grow significantly at over 20% yearly.
  • Quad/Graphics's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:QUAD Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Quad/Graphics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:QUAD Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.95 0.95 0.95 1.00
2019-12-31 0.37 0.37 0.37 1.00
NYSE:QUAD Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -0.21
2018-12-31 0.17
2018-09-30 1.69
2018-06-30 1.61
2018-03-31 1.57
2017-12-31 2.16
2017-09-30 1.82
2017-06-30 1.66
2017-03-31 1.38
2016-12-31 0.94
2016-09-30 -0.04
2016-06-30 -11.84

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Quad/Graphics will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Quad/Graphics's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Quad/Graphics has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

QUAD Past Performance

  How has Quad/Graphics performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Quad/Graphics's growth in the last year to its industry (Commercial Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Quad/Graphics does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Quad/Graphics's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Quad/Graphics's 1-year growth to the US Commercial Services industry average as it is not currently profitable.
Earnings and Revenue History
Quad/Graphics's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Quad/Graphics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:QUAD Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 4,230.90 -10.50 369.20
2018-12-31 4,193.70 8.50 373.00
2018-09-30 4,176.30 84.60 406.10
2018-06-30 4,152.60 81.00 421.70
2018-03-31 4,100.30 78.30 423.40
2017-12-31 4,131.40 107.20 419.20
2017-09-30 4,165.50 89.40 415.30
2017-06-30 4,216.50 80.90 420.30
2017-03-31 4,285.60 66.50 431.60
2016-12-31 4,329.50 44.90 461.60
2016-09-30 4,444.80 -2.00 464.00
2016-06-30 4,523.90 -565.50 460.20
2016-03-31 4,551.60 -602.90 457.60
2015-12-31 4,597.10 -641.90 448.30
2015-09-30 4,707.70 -606.60 440.80
2015-06-30 4,808.60 -30.10 441.70
2015-03-31 4,847.60 -8.00 431.70
2014-12-31 4,777.60 18.30 425.50
2014-09-30 4,787.80 52.90 414.30
2014-06-30 4,757.40 41.30 408.90
2014-03-31 4,769.20 36.80 413.60
2013-12-31 4,795.90 31.40 416.00
2013-09-30 4,576.80 -10.00 399.80
2013-06-30 4,410.50 17.10 385.50
2013-03-31 4,233.90 23.80 361.00
2012-12-31 4,094.00 53.40 347.10
2012-09-30 4,179.10 43.10 368.40

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Quad/Graphics has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Quad/Graphics used its assets less efficiently than the US Commercial Services industry average last year based on Return on Assets.
  • It is difficult to establish if Quad/Graphics improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Quad/Graphics's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Commercial Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Quad/Graphics has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

QUAD Health

 How is Quad/Graphics's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Quad/Graphics's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Quad/Graphics is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Quad/Graphics's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Quad/Graphics's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Quad/Graphics Company Filings, last reported 3 months ago.

NYSE:QUAD Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 419.90 1,126.90 12.50
2018-12-31 460.20 925.50 73.80
2018-09-30 513.30 1,058.20 14.50
2018-06-30 503.30 1,030.10 16.10
2018-03-31 568.70 1,013.80 36.00
2017-12-31 522.40 945.50 66.50
2017-09-30 466.00 1,034.10 15.40
2017-06-30 458.80 1,055.90 8.70
2017-03-31 460.70 1,078.90 6.90
2016-12-31 441.50 1,104.50 9.00
2016-09-30 399.50 1,163.80 11.50
2016-06-30 395.40 1,189.30 8.70
2016-03-31 414.80 1,267.20 10.30
2015-12-31 423.90 1,341.60 10.80
2015-09-30 450.80 1,512.20 14.20
2015-06-30 1,026.00 1,474.70 13.60
2015-03-31 1,080.60 1,449.60 24.50
2014-12-31 1,152.50 1,400.70 9.60
2014-09-30 1,221.10 1,617.10 18.80
2014-06-30 1,231.10 1,570.10 17.40
2014-03-31 1,265.70 1,450.00 13.10
2013-12-31 1,287.60 1,411.30 13.10
2013-09-30 1,161.00 1,540.50 20.30
2013-06-30 1,152.90 1,464.00 11.70
2013-03-31 1,208.60 1,504.70 24.20
2012-12-31 1,235.70 1,348.80 16.90
2012-09-30 1,349.30 1,319.50 18.60
  • Quad/Graphics's level of debt (271.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (116.1% vs 271.9% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Quad/Graphics has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Quad/Graphics has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by % per year.
X
Financial health checks
We assess Quad/Graphics's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Quad/Graphics has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

QUAD Dividends

 What is Quad/Graphics's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
15.92%
Current annual income from Quad/Graphics dividends.
If you bought $2,000 of Quad/Graphics shares you are expected to receive $318 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Quad/Graphics's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Quad/Graphics's dividend is above the markets top 25% of dividend payers in United States of America (3.76%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:QUAD Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
United States of America Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 41 Stocks 1.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2016 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:QUAD Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31
2019-12-31
NYSE:QUAD Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-30 1.200 13.349
2019-02-20 1.200 9.530
2019-02-19 1.200 7.825
2018-10-31 1.200 8.373
2018-08-01 1.200 5.891
2018-07-31 1.200 5.336
2018-02-21 1.200 5.358
2017-10-31 1.200 5.339
2017-08-01 1.200 5.803
2017-05-03 1.200 5.217
2017-05-02 1.200 4.401
2017-02-22 1.200 4.808
2017-02-21 1.200 4.651
2016-11-02 1.200 4.597
2016-11-01 1.200 5.007
2016-08-02 1.200 4.528
2016-08-01 1.200 4.474
2016-02-23 1.200 7.429
2016-02-22 1.200 11.132
2015-11-04 1.200 12.818
2015-11-03 1.200 10.824
2015-05-06 1.200 7.630
2015-05-05 1.200 5.559
2014-11-05 1.200 5.439
2014-08-06 1.200 5.723
2014-05-20 1.200 5.581
2014-02-27 1.200 5.468
2013-11-06 1.200 4.811
2013-11-05 1.200 3.678
2013-05-20 1.200 4.250
2012-12-14 1.200 5.537
2012-11-07 1.000 6.256
2012-08-07 1.000 5.617
2012-05-09 1.000 7.186
2012-02-28 1.000 7.504
2011-11-10 0.800 5.748
2011-08-10 0.800 4.228
2011-05-10 0.800 2.175
2011-03-24 0.500 1.205
2011-03-09 0.500 1.163
2010-11-15 0.500 1.158
2010-11-11 0.500 1.177
2010-08-13 0.500 1.114
2010-08-11 0.500 1.152

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Quad/Graphics has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Quad/Graphics only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Quad/Graphics's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Quad/Graphics's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Quad/Graphics afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Quad/Graphics has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

QUAD Management

 What is the CEO of Quad/Graphics's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
J. Quadracci
COMPENSATION $6,459,795
AGE 50
TENURE AS CEO 13 years
CEO Bio

Mr. J. Joel Quadracci serves as President of Quad/Greenfield, LLC and Graphic Imaging Technology, LLC. Mr. Quadracci has been the Chairman, Chief Executive Officer and President of Quad/Graphics, Inc. since January 2010, July 1, 2006 and January 1, 2005 respectively. Mr. Quadracci served as the President and Chief Executive Officer of QuadWinkowski Sp. z. o. o. He served as the Chief Executive Officer and President of Quad/Graphics Europe Sp z o.o. He served as Chief Operating Officer of Quad/Graphics Inc., since January 1, 2005 and served as Senior Vice President of sales and administration since December 2003, responsible for directing all facets of Sales and Customer Service. In January 2005, he became responsible for day-to-day operations of Quad/Graphics Inc.'s core U.S. printing business as President and Chief Operating Officer. He officially joined Quad/Graphics in 1991, where served as its Sales Manager since 1995, Manager of the New York City Sales office since 1997, Regional Sales Strategy Director since 1998 and served as its Vice President of Print Sales since 1999. Mr. Quadracci has successfully integrated Sales with Customer Service to create a high-performance service team focused on consistently providing clients with unequaled response. He serves as the Chairman of Openfirst LLC. Mr. Quadracci also serves on the Board of Directors of Rise Interactive Media & Analytics, LLC since March 2018. He has been a Director of Quad/Graphics, Inc., since December 2003. He serves as a Director of Direct Marketing Association Inc. He serves on the Board of Directors of the Children's Research Institute, which is affiliated with the Medical College of Wisconsin. He serves as Board Member and officer of ACEER, the Amazon Center for Environmental Education and Research. He served as a Director of Wisconsin Manufacturers & Commerce. He is the inheritor of a rich printing legacy. Mr. Quadracci also serves on the board of directors for the Wisconsin Manufacturers & Commerce, a trade organization, Skidmore College, the Metropolitan Milwaukee Association of Commerce, the Milwaukee Art Museum, Pixibility, Inc. and the Smithsonian National Postal Museum Advisory Council. Mr. Quadracci received a Bachelor of Arts in Philosophy from Skidmore College in 1991.

CEO Compensation
  • J.'s compensation has increased whilst company is loss making.
  • J.'s remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Quad/Graphics management team in years:

4.1
Average Tenure
51.5
Average Age
  • The tenure for the Quad/Graphics management team is about average.
Management Team

J. Quadracci

TITLE
Chairman
COMPENSATION
$6M
AGE
50
TENURE
13 yrs

Dave Honan

TITLE
Executive VP & CFO
COMPENSATION
$2M
AGE
50
TENURE
5.3 yrs

Tom Frankowski

TITLE
Executive VP of Manufacturing & COO
COMPENSATION
$3M
AGE
58
TENURE
5.3 yrs

Jennifer Kent

TITLE
Executive VP of Administration
COMPENSATION
$2M
AGE
47
TENURE
4.1 yrs

Eric Ashworth

TITLE
Executive Vice President of Product & Market Strategy
COMPENSATION
$2M
AGE
53
TENURE
3.3 yrs

Steve Jaeger

TITLE
Chief Information Officer
COMPENSATION
$1M
AGE
54
TENURE
5.3 yrs

Kyle Egan

TITLE
Director of Investor Relations & Assistant Treasurer

Dana Gruen

TITLE
Chief Compliance Officer
TENURE
2.6 yrs

Maura Packham

TITLE
Vice President of Corporate Communications
AGE
50
TENURE
2.6 yrs

Renee Badura

TITLE
Executive Vice President of Sales & Marketing
AGE
55
TENURE
4.1 yrs
Board of Directors Tenure

Average tenure and age of the Quad/Graphics board of directors in years:

5.6
Average Tenure
60
Average Age
  • The tenure for the Quad/Graphics board of directors is about average.
Board of Directors

Douglas Buth

TITLE
Independent Director
COMPENSATION
$254K
AGE
64
TENURE
14.5 yrs

J. Quadracci

TITLE
Chairman
COMPENSATION
$6M
AGE
50
TENURE
9.5 yrs

Chris Harned

TITLE
Director
COMPENSATION
$244K
AGE
56
TENURE
14.5 yrs

John Shiely

TITLE
Independent Director
COMPENSATION
$249K
AGE
66
TENURE
23.5 yrs

John Fowler

TITLE
Director
COMPENSATION
$252K
AGE
68
TENURE
3 yrs

Mark Angelson

TITLE
Independent Director
COMPENSATION
$234K
AGE
67
TENURE
4.3 yrs

Kathryn Flores

TITLE
Director
COMPENSATION
$234K
AGE
51
TENURE
5.6 yrs

Steve Fuller

TITLE
Director
COMPENSATION
$234K
AGE
58
TENURE
3.5 yrs

Jay Rothman

TITLE
Independent Director
COMPENSATION
$224K
AGE
60
TENURE
2.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
08. Mar 19 Sell Eric Ashworth Individual 05. Mar 19 05. Mar 19 -15,000 $13.14 $-197,063
07. Aug 18 Sell Jennifer Kent Individual 03. Aug 18 03. Aug 18 -9,143 $21.83 $-199,555
03. Aug 18 Sell John Fowler Individual 01. Aug 18 01. Aug 18 -10,000 $24.01 $-240,095
X
Management checks
We assess Quad/Graphics's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Quad/Graphics has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

QUAD News

Simply Wall St News

Is Quad/Graphics (NYSE:QUAD) A Risky Investment?

When we think about a company's use of debt, we first look at cash and debt together. … NYSE:QUAD Historical Debt, July 17th 2019 How Strong Is Quad/Graphics's Balance Sheet? … Since Quad/Graphics does have net debt, we think it is worthwhile for shareholders to keep an eye on the balance sheet, over time.

Simply Wall St -

How Many Quad/Graphics, Inc. (NYSE:QUAD) Shares Have Insiders Sold, In The Last Year?

So shareholders might well want to know whether insiders have been buying or selling shares in Quad/Graphics, Inc. … As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.' View our latest analysis for Quad/Graphics The Last 12 Months Of Insider Transactions At Quad/Graphics Over the last year, we can see that the biggest insider sale was by the Director, John Fowler, for US$240k worth of shares, at about US$24.01 per share. … Insider Ownership For a common shareholder, it is worth checking how many shares are held by company insiders.

Simply Wall St -

Has Quad/Graphics, Inc. (NYSE:QUAD) Been Employing Capital Shrewdly?

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Understanding Return On Capital Employed (ROCE). … Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)

Simply Wall St -

Should You Think About Buying Quad/Graphics, Inc. (NYSE:QUAD) Now?

saw a decent share price growth in the teens level on the NYSE over the last few months. … Less-covered, small caps sees more of an opportunity for mispricing due to the lack of information available to the public, which can be a good thing? … So, could the stock still be trading at a low price relative to its actual value.

Simply Wall St -

Does Quad/Graphics, Inc. (NYSE:QUAD) Have A Particularly Volatile Share Price?

Some stocks mimic the volatility of the market quite closely, while others demonstrate muted, exagerrated or uncorrelated price movements. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

Simply Wall St -

If You Had Bought Quad/Graphics (NYSE:QUAD) Stock A Year Ago, You'd Be Sitting On A 54% Loss, Today

Investing in stocks comes with the risk that the share price will fall. … The share price is down a hefty 54% in that time. … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.

Simply Wall St -

Should You Be Worried About Insider Transactions At Quad/Graphics, Inc. (NYSE:QUAD)?

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … So we'll take a look at whether insiders have been buying or selling shares in Quad/Graphics, Inc. … But logic dictates you should pay some attention to whether insiders are buying or selling shares.

Simply Wall St -

At US$14.12, Is It Time To Put Quad/Graphics, Inc. (NYSE:QUAD) On Your Watch List?

As a small cap stock, hardly covered by any analysts, there is generally more of an opportunity for mispricing as there is less activity to push the stock closer to fair value? … Is there still an opportunity here to buy. … Today I will analyse the most recent data on Quad/Graphics’s outlook and valuation to see if the opportunity still exists

Simply Wall St -

Why You Should Care About Quad/Graphics, Inc.’s (NYSE:QUAD) Low Return On Capital

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … What is Return On Capital Employed (ROCE)? … How Do You Calculate Return On Capital Employed

Simply Wall St -

Should You Worry About Quad/Graphics, Inc.'s (NYSE:QUAD) CEO Salary Level?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … Quadracci's Compensation Compare With Similar Sized Companies. … We looked at a group of companies with market capitalizations from US$400m to US$1.6b, and the median CEO compensation was US$2.4m..

Simply Wall St -

QUAD Company Info

Description

Quad/Graphics, Inc. provides marketing solutions worldwide. The company operates through United States Print and Related Services, and International segments. It offers printing services, such as retail inserts, publications, catalogs, special interest publications, journals, direct mail, books, directories, in-store marketing and promotion, packaging, newspapers, custom print products, and other commercial and specialty printed products; and paper procurement services. The company also provides marketing and other services, including consumer insights, audience targeting, personalization, media planning and placement, process optimization, campaign planning and creation, pre-media production, videography, photography, digital and print execution, and logistics, as well as manufactures ink. It serves various blue chip companies that operate in various industries; and businesses and consumers comprising retailers, publishers, and direct marketers. Quad/Graphics, Inc. was founded in 1971 and is headquartered in Sussex, Wisconsin.

Details
Name: Quad/Graphics, Inc.
QUAD
Exchange: NYSE
Founded: 1971
$388,584,878
51,536,456
Website: http://www.quad.com
Address: Quad/Graphics, Inc.
N61 W23044 Harry’s Way,
Sussex,
Wisconsin, 53089,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE QUAD Class A Common Stock New York Stock Exchange US USD 06. Jul 2010
DB QGU Class A Common Stock Deutsche Boerse AG DE EUR 06. Jul 2010
Number of employees
Current staff
Staff numbers
20,600
Quad/Graphics employees.
Industry
Commercial Printing
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/21 00:45
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/06/21
Last earnings filing: 2019/05/01
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.