Quad Graphics screens as deeply cheap (forward P/E 4.8x, 317% FCF/NI) but sits below the $400M market-cap floor with weak momentum and no moat, so the value case depends on cash conversion holding while revenue stabilizes.
Thesis pillars
- Excellent Cash Conversion↓Deteriorating
- Deep Value Low Multiples↑Improving
- Revenue Decline Stabilizing↓Deteriorating
- +2 more pillars — see the Why tab for full reasoning
Pillars as of Nov 1, 2026, based on the 10-K filed Feb 18, 2026
Quad Graphics, Inc (QUAD) Stock Analysis
Oversold Bounce setup · Inst Constrain edge
Industrials · Specialty Business Services
Hold if already holding. Not a fresh buy at $7.20, but acceptable to hold if already in. Reason: Market cap $367M below $400M minimum.
Quad is a marketing experience company that combines creative, media, data, and print production services for roughly 2,100 clients across 71 facilities in 10 countries, including 33 manufacturing and distribution sites. The company manages more than $6.0 billion in media spend... Read more
Hold if already holding. Not a fresh buy at $7.20, but acceptable to hold if already in. Reason: Market cap $367M below $400M minimum. Chart setup: Oversold RSI 25, near Bollinger lower, volume surge. Market cap $367M below $400M minimum. Not in investable universe. Score 5.9/10, moderate confidence.
Passes 7/8 gates (favorable risk/reward ratio, clean insider activity, no SEC red flags, news events none recent, earnings proximity 106d clear, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum. Suitability: aggressive.
About Quad Graphics, Inc
About Quad Graphics, Inc
Quad operates 71 facilities across 10 countries, including 33 manufacturing and distribution sites, serving approximately 2,100 clients in commerce, financial services, and health verticals. The company manages more than $6.0 billion in media spend through its Rise media agency and Betty creative agency, alongside its commercial printing platform, with its 10 largest clients accounting for approximately 21% of 2025 consolidated sales and none exceeding 5% individually.
Quad earns revenue by bundling marketing intelligence, creative, media, technology, and print production into a single MX Solutions Suite, positioning itself against both large advertising-agency holding companies and traditional commercial printers. Roughly 90% of U.S. clients purchased more than one product or service in 2025, reflecting a cross-selling strategy built on a proprietary household-level data stack covering more than 250 million consumers. On the manufacturing side, Quad vertically integrates prepress services, ink manufacturing through its Chemical Research/Technology subsidiary, and logistics through its Quad Transportation Services and Duplainville Transport divisions, while an extensive co-mailing operation generates USPS work-sharing discounts for clients. Paper, ink, and energy are the primary raw material inputs to the print business; the company says approximately half of the paper it uses is supplied directly by clients, and it includes price-adjustment clauses in sales contracts to mitigate exposure on the paper it sources itself.
Show full overview
Quad's exposure to paper is structural rather than concentrated in any single vendor, but it is nonetheless a real swing factor: the 10-K discloses that a declining number of paper suppliers, mill conversions to other product lines such as paperboard, and periods of tight supply have already caused certain paper grades to run short, even though the company says it has not historically had significant difficulty securing adequate quantities. Because roughly half of the paper Quad uses is supplied directly by clients rather than procured by Quad itself, a sustained industry-wide paper shortage would squeeze the print segment unevenly — hitting hardest the clients and jobs where Quad still owns the sourcing relationship.
See also: Industrials · Specialty Business Services
From Quad Graphics, Inc's most recent 10-K filing, extracted July 6, 2026.
Recent developments
updated 2026-11-02Recent Developments — Quad Graphics, Inc
Latest news
- NEWS Quad/Graphics Inc Reports Q3 2026 Earnings: $587 Million Revenue - GuruFocus — GuruFocus neutral
- NEWS Quad/Graphics (QUAD) Lags Q3 Earnings Estimates - Yahoo Finance — Yahoo Finance negative
- NEWS Quad Graphics earnings missed by $0.03, revenue topped estimates - Investing.com — Investing.com negative
- NEWS Quad/Graphics: Q3 Earnings Snapshot - Yahoo Finance — Yahoo Finance neutral
- NEWS Quad/Graphics: Q3 Earnings Snapshot - kens5.com — kens5.com neutral
Generated 2026-11-02T11:43:20Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. People who build TrendMatrix, or entities they control, may hold positions, long or short, in securities it covers, and may trade them at any time. Positions are not disclosed individually. Verdicts are generated by an automated model applied by the same rules to every covered stock, and are not adjusted for any position held by the people who build TrendMatrix. We do not accept payment from issuers for coverage.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Rating Breakdown
1 floor-breaker·1 ceiling hit
Price action weak — below key moving averages, no momentum carry. Needs a base before trend-continuation setups apply.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $7.20, but acceptable to hold if already in. Reason: Market cap $367M below $400M minimum. Chart setup: Oversold RSI 25, near Bollinger lower, volume surge. Market cap $367M below $400M minimum. Not in investable universe. Analyst target $10.63 (+47.6%), stop $6.95 (−3.6%), A.R:R 3.8:1. Score 5.9/10, moderate confidence.
Analyst target: $10.63 (+47.6% upside). Analyst target $10.63 (+47.6%), stop $6.95 (−3.6%), A.R:R 3.8:1. Stop-loss: $6.95.
Market cap $367M below $400M minimum.
Quad Graphics, Inc trades at a P/E of 12.9 (forward 5.0). TrendMatrix value score: 9.5/10. Verdict: Hold.
9 analysts cover QUAD with a consensus score of 4.2/5. Average price target: $13.
What does Quad Graphics, Inc do?Quad is a marketing experience company that combines creative, media, data, and print production services for roughly...
Quad is a marketing experience company that combines creative, media, data, and print production services for roughly 2,100 clients across 71 facilities in 10 countries, including 33 manufacturing and distribution sites. The company manages more than $6.0 billion in media spend and serves industries including retail, consumer packaged goods, financial services, and health, with its 10 largest clients accounting for approximately 21% of 2025 consolidated sales and none exceeding 5% individually.