Flagship explainer

How Quad/Graphics, Inc. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$2.4B · 100%Cost of revenue$1.9B · 78%Gross profit$523M · 22%Operating income$97M · 4%Income before tax$32.5M · 1%Income tax$5.5M · 0%Net income$27M · 1%As of 2025-12-31 · 2 SEC filing sourcesBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$2.4B100%
Cost of revenue$1.9B78%
$523M22%
$97M4%
Income before tax$32.5M1%
Income tax$5.5M0%
$27M1%
Source: · event Dec 31, 2025 · retrieved Jul 26, 2026 · annual-row source set
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