Quad/Graphics, Inc. Class A (QUAD)

Over the past six months, Quad/Graphics, Inc. stock has experienced fluctuations. As of late October 2025, the stock price has decreased by 7.56% in the past month, while showing a 6.53% increase over the last three months. Year-to-date, the stock has a return of -12.27%, but over the last year, it has increased by 27.40%. Quad reported mixed financial performance for Q2 2025, missing EPS expectations but surpassing revenue projections; net sales declined by 10% compared to Q2 2024. In Q1 2025, the company reaffirmed its 2025 guidance, expecting organic net sales to decline 2% to 6% compared to 2024. Quad has consistently declared quarterly dividends of $0.075 per share and repurchased 1.4 million shares in 2025, bringing total repurchases to 7.3 million shares since 2022.

Quad/Graphics, Inc.'s business experiences significant demand seasonality. The company typically generates negative free cash flow in the first nine months of the year, followed by large positive free cash flow in the fourth quarter. The seasonal production peak occurs in the late third quarter and early fourth quarter, driven by holiday-related advertising and promotions. Management has indicated they may operate above their target debt leverage range at certain times of the year due to this seasonality.

Quad/Graphics, Inc. is an American marketing services company based in Sussex, Wisconsin, operating in the Industrials sector, specifically in Specialty Business Services, Marketing & Advertising, and Manufacturing. It offers marketing and print services to help brands connect with consumers across various channels. Its services include customer insights and analytics, media services, campaign planning, creative services, technology services, content workflow services, and print production, including retail inserts, publications, catalogs, direct mail, packaging, and in-store marketing materials. Quad also provides broadcast, digital, and in-store execution, sourcing and procurement, print and paper management, marketing outsourcing, and production service outsourcing, and manufactures ink and provides imaging and medical services. In March 2025, Quad expanded into the branded solutions market and in 2024, Quad launched a new creative agency named Betty and introduced InStore Connect, an in-store retail media network technology.

Quad/Graphics, Inc. has a global presence, providing marketing solutions across North America, Mexico, Central America, the Caribbean, Europe, the Middle East, Africa, South America, and Asia. The company's headquarters are in Sussex, Wisconsin, U.S. As of late 2022, Quad operated approximately 45 manufacturing and distribution facilities and over 80 client-based on-site locations worldwide. Specific office and plant locations are found in various U.S. states and internationally in countries like Mexico and India.

Quad/Graphics has maintained a positive brand reputation, particularly within the marketing and agency sectors. Quad was ranked among Ad Age's top 25 world's largest agency companies for the sixth consecutive year and earned a repeat spot on MM&M's Agency 100. In March 2025, Quad expanded into the branded solutions market, and in October 2025, launched new natural language AI prompts powered by Snowflake. The company also announced an In-Store Connect retail media network partnership with Vallarta Supermarkets in July 2025. Quad highlighted its 15-year partnership with Pine View Wildlife Rehabilitation and Education Center and strengthened its partnership with the Milwaukee-based Urban Ecology Center.

Institutional investors hold a significant portion of Quad/Graphics, Inc. stock, owning 39.52% of the company's shares, while individuals own 18.02%. Major institutional shareholders include Miller Value Partners LLC (6.934%) and Quad/Graphics Esop (6.588%). Other institutional investors that have recently modified their holdings include CWM LLC, Algert Global LLC, Nisa Investment Advisors LLC, and Evergreen Capital Management LLC.