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How Quad/Graphics (QUAD) makes money

Quad/Graphics (QUAD) made $587M of revenue in the third quarter 2026 (Q3 2026), -0.2% from a year earlier. Products brought in $455M (78%); Services brought in $132M (22%). Of every dollar of revenue, 2¢ was left as operating profit, 1¢ was left as net earnings.

Drawing the Sankey…

Quad/Graphics revenue by segment, Q3 2026Quad/Graphics revenue by segment, Q3 2026Products$455MServices$132M
Quad/Graphics: revenue by line, Q1 2025 to Q3 2026Quad/Graphics: revenue by line, Q1 2025 to Q3 2026ProductsServicesProducts: $455M latest$455MServices: $132M latest$132MQ1 2025Q2 2025Q3 2025Q1 2026Q2 2026Q3 2026
The mix barely moved between Q1 2025 and Q3 2026.
Quad/Graphics revenue by quarterQuad/Graphics revenue by quarter$629MQ1 2025$572MQ2 2025$588MQ3 2025$581MQ1 2026$578MQ2 2026$587MQ3 2026
Quad/Graphics: where each dollar of revenue goesQuad/Graphics: where each dollar of revenue goesOperating profit2¢Net earnings1¢

Revenue by segment, Q3 2026

SegmentRevenueShareQ/QY/Y
Products$455M77.6%+0.7%-0.9%
  ↳ Catalog, publications, retail inserts and directories$297M50.6%+4%-3%
  ↳ Direct mail and other printed products$153M26.1%-6%+3%
  ↳ Other$5.0M0.9%-4%+127%
Services$132M22.4%+5%+2%
  ↳ Marketing services and medical services$70.0M11.9%+1%-6%
  ↳ Logistics services$61.6M10.5%+9%+13%

Where each dollar of revenue goes

LineQ3 2026% of revenue
Revenue$587M100.0%
Operating profit$13.9M2.4%
Net earnings$5.5M0.9%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q3 2026$587M-0.2%
Q2 2026$578M+1%
Q1 2026$581M-8%
Q3 2025$588M-13%
Q2 2025$572M-10%
Q1 2025$629M-4%

From Quad/Graphics' 10-Q filed Oct 29, 2026 (on EDGAR).

Questions

How does Quad/Graphics make money?

Quad/Graphics (QUAD) made $587M of revenue in the third quarter 2026 (Q3 2026), -0.2% from a year earlier. Products brought in $455M (78%); Services brought in $132M (22%). Of every dollar of revenue, 2¢ was left as operating profit, 1¢ was left as net earnings.

What is Quad/Graphics' biggest business?

Products: $455M in the third quarter 2026, 78% of revenue, -0.9% from a year earlier.

What is Quad/Graphics' profit margin?

Net earnings were $5.5M, 0.9% of revenue, in the third quarter 2026; the operating margin was 2.4%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.