Demonstrações financeiras detalhadas de Quad/Graphics, Inc. (QUAD): demonstração de resultados, balanço patrimonial e fluxo de caixa. Acompanhe a evolução de margens, dívida, liquidez e rentabilidade ano a ano com até 20 anos de histórico.
Resumo da Análise
Quad/Graphics, Inc. registou receitas de $2.42B no último exercício, com um CAGR de 5 anos de -3.8%.
Margens dos últimos 12 meses: margem bruta 32.1%, margem operacional 3.9%, margem líquida 1.1%. O fluxo de caixa livre cresceu a CAGR de -17.1% em 5 anos.
Ao preço atual de $9.63, QUAD negocia a um P/L de 14.88 e um ROE de 26.19%. A capitalização de mercado é de $497M.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $4.33B | $4.13B | $4.19B | $3.92B | $2.93B | $2.96B | $3.22B | $2.96B | $2.67B | $2.42B |
| Custo da Receita | $3.66B | $3.48B | $3.43B | $3.40B | $2.51B | $2.54B | $2.76B | $2.51B | $2.19B | $1.98B |
| Lucro Bruto | $666.9M | $648.5M | $553.1M | $525.3M | $416.2M | $416.3M | $460.2M | $450.8M | $480.7M | $444.7M |
| P&D | $9.3M | $9.0M | $3.6M | $3.6M | $3.0M | $3.1M | $3.3M | $3.1M | $3.2M | 0 |
| Despesas Gerais e Administrativas | $448.6M | $423.8M | $357.3M | $398.8M | $330.9M | $323.1M | $356.5M | $348.9M | $350.4M | $325.9M |
| Despesas Operacionais | $457.9M | $432.8M | $360.9M | $402.4M | $333.9M | $326.2M | $359.8M | $352.0M | $353.6M | $325.9M |
| Lucro Operacional | $209.0M | $215.7M | $192.2M | $122.9M | $82.3M | $90.1M | $100.4M | $98.8M | $127.1M | $118.8M |
| EBITDA | $413.6M | $394.8M | $314.8M | $218.9M | $150.4M | $266.1M | $213.0M | $150.6M | $121.0M | $161.6M |
| Despesas com Juros | $77.2M | $71.1M | $73.3M | $90.0M | $68.8M | $59.6M | $48.4M | $70.0M | $64.5M | $50.5M |
| Lucro Antes de Impostos | $57.9M | $91.2M | $27.5M | -$80.1M | -$106.3M | $47.3M | $17.7M | -$42.6M | -$44.5M | $32.5M |
| Imposto | $13.0M | -$16.0M | -$9.8M | -$24.4M | $300000 | $9.5M | $8.4M | $12.8M | $6.4M | $5.5M |
| Lucro Líquido | $44.9M | $107.2M | $8.5M | -$55.4M | -$128.3M | $37.8M | $9.3M | -$55.4M | -$50.9M | $27.0M |
| LPA | $0.94 | $2.16 | $0.17 | $-1.11 | $-2.53 | $0.74 | $0.18 | $-1.14 | $-1.07 | $0.57 |
| LPA Diluído | $0.90 | $2.07 | $0.16 | $-1.11 | $-2.53 | $0.71 | $0.18 | $-1.14 | $-1.07 | $0.54 |
| Ações em Circulação (Diluídas) | $49.8M | $51.8M | $51.6M | $50.0M | $50.6M | $53.0M | $52.5M | $48.4M | $47.6M | $49.9M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $588.0M | $630.6M | $581.0M | $1.05B |
| Lucro Bruto | $114.6M | $117.3M | $104.5M | $577.5M |
| Lucro Operacional | $33.7M | $36.0M | $26.1M | $14.9M |
| EBITDA | $45.3M | $43.3M | $36.3M | $32.1M |
| Lucro Líquido | $10.2M | $11.1M | $6.2M | $3.7M |
| LPA | $0.21 | $0.23 | $0.13 | $0.08 |
| LPA Diluído | $0.21 | $0.22 | $0.13 | $0.07 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $9.0M | $64.3M | $69.5M | $78.7M | $55.2M | $179.9M | $25.2M | $52.9M | $29.2M | $63.3M |
| Investimentos de Curto Prazo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Contas a Receber | $563.6M | $552.5M | $497.6M | $456.1M | $399.1M | $362.0M | $372.6M | $316.2M | $273.2M | $294.8M |
| Estoque | $265.4M | $246.5M | $300.6M | $210.5M | $170.2M | $226.2M | $260.7M | $178.8M | $162.4M | $143.5M |
| Ativos Circulantes | $902.6M | $908.5M | $946.6M | $910.9M | $679.2M | $809.1M | $704.5M | $587.7M | $534.3M | $538.4M |
| Imobilizado | $1.52B | $1.38B | $1.26B | $1.13B | $965.2M | $852.7M | $783.2M | $717.2M | $578.6M | $529.6M |
| Ágio | 0 | 0 | $54.6M | $103.0M | $103.0M | $86.4M | $86.4M | $103.0M | $100.3M | $107.6M |
| Ativos Intangíveis | $59.7M | $43.4M | $112.6M | $137.2M | $104.3M | $75.3M | $46.9M | $21.8M | $7.2M | $13.7M |
| Ativos Totais | $2.57B | $2.45B | $2.47B | $2.42B | $1.93B | $1.89B | $1.70B | $1.51B | $1.30B | $1.25B |
| Contas a Pagar | $323.5M | $381.6M | $496.3M | $416.7M | $320.0M | $367.3M | $456.6M | $373.6M | $356.7M | $342.0M |
| Dívida de Curto Prazo | $84.7M | $42.0M | $42.9M | $77.9M | $20.7M | $245.6M | $89.7M | $151.7M | $28.0M | $47.0M |
| Passivos Circulantes | $774.6M | $745.9M | $851.3M | $813.4M | $682.7M | $957.1M | $795.4M | $790.8M | $698.7M | $624.2M |
| Dívida de Longo Prazo | $1.02B | $903.5M | $882.6M | $1.06B | $902.7M | $554.9M | $506.7M | $362.5M | $349.1M | $322.9M |
| Passivos Totais | $2.13B | $1.93B | $2.01B | $2.17B | $1.84B | $1.75B | $1.53B | $1.39B | $1.25B | $1.12B |
| Reservas | -$206.4M | -$162.9M | -$211.4M | -$423.5M | -$566.0M | -$527.8M | -$518.5M | -$573.9M | -$635.1M | -$623.2M |
| Patrimônio Líquido | $441.5M | $522.4M | $442.5M | $226.6M | $84.1M | $136.8M | $172.9M | $119.5M | $49.9M | $128.6M |
| Dívida Total | $1.14B | $964.8M | $940.9M | $1.25B | $1.01B | $931.6M | $713.7M | $625.3M | $464.6M | $444.0M |
| Dívida Líquida | $1.13B | $900.5M | $871.4M | $1.17B | $955.9M | $751.7M | $688.5M | $572.4M | $435.4M | $380.7M |
| Capital de Giro | $128.0M | $162.6M | $95.3M | $97.5M | -$3.5M | -$148.0M | -$90.9M | -$203.1M | -$164.4M | -$85.8M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $6.2M | $63.3M | $7.0M | $7.4M |
| Ativos Totais | $1.27B | $1.25B | $1.23B | $1.20B |
| Passivos Totais | $1.17B | $1.12B | $1.10B | $1.07B |
| Patrimônio Líquido | $96.7M | $128.6M | $126.6M | $124.7M |
| Dívida Total | $549.3M | $444.0M | $503.4M | $469.2M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | $44.9M | $107.2M | $7.9M | -$156.3M | -$128.3M | $37.8M | $9.3M | -$55.4M | -$50.9M | $27.0M |
| Depreciação e Amortização | $277.1M | $232.5M | $230.7M | $223.1M | $184.2M | $157.3M | $141.3M | $128.8M | $102.5M | $78.6M |
| Compensação em Ações | $15.2M | $16.4M | $15.6M | $13.6M | $10.6M | $6.2M | $6.0M | $5.6M | $7.3M | $6.6M |
| Variação Capital de Giro | $25.6M | -$4.3M | $5.7M | $3.5M | $91.3M | -$23.3M | -$29.6M | $56.0M | $6.1M | -$18.6M |
| Fluxo de Caixa Operacional | $352.5M | $344.0M | $260.6M | $155.5M | $190.2M | $136.5M | $154.6M | $147.6M | $112.9M | $95.9M |
| CapEx | -$106.1M | -$85.9M | -$96.3M | -$111.0M | -$61.0M | -$50.0M | -$60.3M | -$70.8M | -$57.2M | -$45.2M |
| Aquisições | -$9.9M | $14.1M | -$71.4M | -$109.9M | -$2.2M | $38.3M | -$5.9M | -$1.5M | -$200000 | -$16.3M |
| Recompra de Ações | -$8.8M | -$3.8M | -$36.7M | -$6.6M | -$1.0M | 0 | -$10.0M | -$12.6M | -$2.1M | -$8.0M |
| Dividendos Pagos | -$61.1M | -$62.5M | -$62.9M | -$57.1M | -$9.5M | -$1.4M | -$1.4M | -$100000 | -$9.4M | -$14.4M |
| Fluxo de Caixa Livre | $246.4M | $258.1M | $164.3M | $44.5M | $129.2M | $86.5M | $94.3M | $76.8M | $55.7M | $50.7M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | -$8.4M | $145.9M | -$93.7M | $52.8M |
| CapEx | -$12.2M | -$8.7M | -$13.3M | -$12.0M |
| Fluxo de Caixa Livre | -$20.6M | $137.2M | -$107.0M | $40.8M |
| Dividendos Pagos | -$3.5M | -$3.5M | -$5.5M | -$4.7M |
| Compensação em Ações | $1.3M | $1.5M | $1.3M | $2.9M |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | -4.6% | +1.5% | -6.4% | -25.3% | +1.1% | +8.7% | -8.1% | -9.7% | -9.4% |
| Crescimento Lucro Líquido (anual) | | +138.8% | -92.1% | -751.8% | -131.6% | +129.5% | -75.4% | -695.7% | +8.1% | +153.0% |
| Crescimento LPA (anual) | | +129.8% | -92.1% | -752.9% | -128.3% | +129.2% | -75.7% | -733.3% | +6.1% | +153.3% |
| Variação de Ações (anual) | | +4.0% | -0.4% | -3.1% | +1.2% | +4.7% | -0.9% | -7.8% | -1.7% | +4.8% |
| Crescimento FCF (anual) | | +4.7% | -36.3% | -72.9% | +190.3% | -33.0% | +9.0% | -18.6% | -27.5% | -9.0% |
| Margem Bruta | 15.4% | 15.7% | 13.2% | 13.4% | 14.2% | 14.1% | 14.3% | 15.2% | 18.0% | 18.4% |
| Margem Operacional | 4.8% | 5.2% | 4.6% | 3.1% | 2.8% | 3.0% | 3.1% | 3.3% | 4.8% | 4.9% |
| Margem EBITDA | 9.6% | 9.6% | 7.5% | 5.6% | 5.1% | 9.0% | 6.6% | 5.1% | 4.5% | 6.7% |
| Margem Líquida | 1.0% | 2.6% | 0.2% | -1.4% | -4.4% | 1.3% | 0.3% | -1.9% | -1.9% | 1.1% |
| Margem FCF | 5.7% | 6.2% | 3.9% | 1.1% | 4.4% | 2.9% | 2.9% | 2.6% | 2.1% | 2.1% |
| Taxa Efetiva de Imposto | 22.5% | -17.5% | -35.6% | 30.5% | -0.3% | 20.1% | 47.5% | -30.0% | -14.4% | 16.9% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $4.95 | $4.98 | $3.18 | $0.89 | $2.55 | $1.63 | $1.80 | $1.59 | $1.17 | $1.02 |
| Dividendo por Ação | $1.23 | $1.21 | $1.22 | $1.14 | $0.19 | $0.03 | $0.03 | $0.00 | $0.20 | $0.29 |
| Ações em Circulação (Básicas) | $47.9M | $49.6M | $49.8M | $50.0M | $50.6M | $51.3M | $50.7M | $48.4M | $47.6M | $47.6M |
O que olhar em Industriais
Aeroespacial, defesa, maquinaria, transporte. Semi-cíclicos. Chave: backlog, margens operacionais e conversão de FCF.
- Crescimento receita 5 anos — Sem crescimento, não há criação de valor a longo prazo
- Margem operacional — O melhor indicador de disciplina operacional em industriais
- ROIC — Industriais de qualidade têm ROIC >15% — os outros destroem capital
- Conversão FCF — FCF / Net Income — em industriais bom >85%
- Dívida líquida / EBITDA — Industriais cíclicos com dívida alta sofrem muito em recessão
- Capex / Receita — Manter a maquinaria. <4% = possível subinvestimento (deterioração futura)
- Altman Z-Score — Modelo de falência (NYU 1968) — combina liquidez, alavancagem e rentabilidade. Chave em cíclicas
Rentabilidade
| Retorno sobre patrimônio | 26.19% |
| Retorno sobre capital investido | 12.49% |
| Retorno sobre ativos | 2.60% |
| Margem bruta | 32.06% |
| Margem operacional | 3.88% |
| Margem líquida | 1.09% |
Saúde financeira
| Dívida / Patrimônio | 3.76 |
| Liquidez corrente | 0.87 |
| Piotroski F-Score | 8 |
| Altman Z-Score | 1.63 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | 28.60 | 10.46 | 72.47 | -4.21 | -1.51 | 5.41 | 22.67 | -4.75 | -6.51 | 11.00 |
| P/VP | 2.92 | 2.15 | 1.39 | 1.03 | 2.30 | 1.50 | 1.20 | 2.20 | 6.65 | 2.32 |
| P/V | 0.30 | 0.27 | 0.15 | 0.06 | 0.07 | 0.07 | 0.06 | 0.09 | 0.12 | 0.12 |
| Margem Bruta | 15.4% | 15.7% | 13.2% | 13.4% | 14.2% | 14.1% | 14.3% | 15.2% | 18.0% | 18.4% |
| Margem Operacional | 4.8% | 5.2% | 4.6% | 3.1% | 2.8% | 3.0% | 3.1% | 3.3% | 4.8% | 4.9% |
| Margem Líquida | 1.0% | 2.6% | 0.2% | -1.4% | -4.4% | 1.3% | 0.3% | -1.9% | -1.9% | 1.1% |