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Side-by-side financial comparison of Quad/Graphics, Inc. (QUAD) and REPUBLIC AIRWAYS HOLDINGS INC. (RJET). Click either name above to swap in a different company.
REPUBLIC AIRWAYS HOLDINGS INC. is the larger business by last-quarter revenue ($1.1B vs $630.6M, roughly 1.7× Quad/Graphics, Inc.). Over the past eight quarters, REPUBLIC AIRWAYS HOLDINGS INC.'s revenue compounded faster (3.9% CAGR vs -1.9%).
Quad is an American marketing services company headquartered in Sussex, Wisconsin. It provides a range of print and marketing services that support physical and digital media channels through audience targeting services, omnichannel media planning and placement, creative and content production, retail display and packaging, postal optimization, and consumer analytics. In 2025, Quad ranked as one of the largest agency companies in the U.S. and as one of the largest commercial printers in North...
Republic Airways Holdings Inc. is an American airline holding company based in Indianapolis, Indiana. The company owns two regional airlines, Mesa Airlines and Republic Airways. Together the two airlines operate the world's largest fleet of Embraer 170 and Embraer 175 aircraft. The majority of the shares of company are owned by the mainline carriers that contract with Republic, American Airlines Group, Delta Air Lines, and United Airlines.
QUAD vs RJET — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $630.6M | $1.1B |
| Net Profit | — | — |
| Gross Margin | 21.6% | — |
| Operating Margin | 5.9% | 22.0% |
| Net Margin | — | — |
| Revenue YoY | -11.0% | — |
| Net Profit YoY | — | — |
| EPS (diluted) | $0.22 | $3.13 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $630.6M | $1.1B | ||
| Q3 25 | $588.0M | $90.7M | ||
| Q2 25 | $571.9M | $92.8M | ||
| Q1 25 | $629.4M | $94.7M | ||
| Q4 24 | $708.4M | $808.3M | ||
| Q3 24 | $674.8M | — | ||
| Q2 24 | $634.2M | $110.8M | ||
| Q1 24 | $654.8M | $131.6M |
| Q4 25 | — | — | ||
| Q3 25 | $10.2M | $-14.1M | ||
| Q2 25 | $-100.0K | $20.9M | ||
| Q1 25 | $5.8M | $-58.6M | ||
| Q4 24 | — | $97.8M | ||
| Q3 24 | $-24.7M | — | ||
| Q2 24 | $-2.8M | $-19.9M | ||
| Q1 24 | $-28.1M | $11.7M |
| Q4 25 | 21.6% | — | ||
| Q3 25 | 22.8% | — | ||
| Q2 25 | 21.6% | — | ||
| Q1 25 | 20.6% | — | ||
| Q4 24 | 22.4% | — | ||
| Q3 24 | 21.8% | — | ||
| Q2 24 | 22.1% | — | ||
| Q1 24 | 20.4% | — |
| Q4 25 | 5.9% | 22.0% | ||
| Q3 25 | 4.5% | -10.1% | ||
| Q2 25 | 2.4% | -0.2% | ||
| Q1 25 | 3.1% | -60.4% | ||
| Q4 24 | 2.8% | 18.7% | ||
| Q3 24 | -0.7% | — | ||
| Q2 24 | 2.4% | -8.1% | ||
| Q1 24 | -1.6% | 8.8% |
| Q4 25 | — | — | ||
| Q3 25 | 1.7% | -15.6% | ||
| Q2 25 | -0.0% | 22.5% | ||
| Q1 25 | 0.9% | -61.9% | ||
| Q4 24 | — | 12.1% | ||
| Q3 24 | -3.7% | — | ||
| Q2 24 | -0.4% | -18.0% | ||
| Q1 24 | -4.3% | 8.9% |
| Q4 25 | $0.22 | $3.13 | ||
| Q3 25 | $0.21 | $-0.34 | ||
| Q2 25 | $0.00 | $0.50 | ||
| Q1 25 | $0.11 | $-1.42 | ||
| Q4 24 | $0.11 | $2.42 | ||
| Q3 24 | $-0.52 | — | ||
| Q2 24 | $-0.06 | $-0.48 | ||
| Q1 24 | $-0.60 | $0.28 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $63.3M | $296.5M |
| Total DebtLower is stronger | $369.9M | $882.9M |
| Stockholders' EquityBook value | $-59.5M | $1.3B |
| Total Assets | $1.3B | $3.3B |
| Debt / EquityLower = less leverage | — | 0.66× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.3M | $296.5M | ||
| Q3 25 | $6.2M | $38.7M | ||
| Q2 25 | $6.7M | $42.5M | ||
| Q1 25 | $8.1M | $54.1M | ||
| Q4 24 | $29.2M | $302.0M | ||
| Q3 24 | $12.5M | — | ||
| Q2 24 | $12.8M | $16.3M | ||
| Q1 24 | $10.2M | $18.5M |
| Q4 25 | $369.9M | $882.9M | ||
| Q3 25 | — | $27.0M | ||
| Q2 25 | — | $28.2M | ||
| Q1 25 | — | $31.7M | ||
| Q4 24 | $377.1M | $752.2M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $287.7M | ||
| Q1 24 | — | $299.0M |
| Q4 25 | $-59.5M | $1.3B | ||
| Q3 25 | $96.7M | $-52.6M | ||
| Q2 25 | $87.0M | $-38.7M | ||
| Q1 25 | $87.4M | $-59.8M | ||
| Q4 24 | $-131.2M | $1.1B | ||
| Q3 24 | $50.9M | — | ||
| Q2 24 | $79.1M | $134.9M | ||
| Q1 24 | $89.2M | $154.7M |
| Q4 25 | $1.3B | $3.3B | ||
| Q3 25 | $1.3B | $158.9M | ||
| Q2 25 | $1.2B | $178.6M | ||
| Q1 25 | $1.2B | $215.0M | ||
| Q4 24 | $1.3B | $2.8B | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | $664.4M | ||
| Q1 24 | $1.4B | $706.3M |
| Q4 25 | — | 0.66× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.68× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 2.13× | ||
| Q1 24 | — | 1.93× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $145.9M | — |
| Free Cash FlowOCF − Capex | $137.2M | — |
| FCF MarginFCF / Revenue | 21.8% | — |
| Capex IntensityCapex / Revenue | 1.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $50.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $145.9M | — | ||
| Q3 25 | $-8.4M | — | ||
| Q2 25 | $47.4M | $-9.4M | ||
| Q1 25 | $-89.0M | — | ||
| Q4 24 | $158.8M | $184.0M | ||
| Q3 24 | $2.4M | — | ||
| Q2 24 | $3.9M | $11.2M | ||
| Q1 24 | $-52.2M | — |
| Q4 25 | $137.2M | — | ||
| Q3 25 | $-20.6M | — | ||
| Q2 25 | $34.4M | $-10.5M | ||
| Q1 25 | $-100.3M | — | ||
| Q4 24 | $147.3M | $-42.7M | ||
| Q3 24 | $-9.8M | — | ||
| Q2 24 | $-11.7M | $7.5M | ||
| Q1 24 | $-70.1M | — |
| Q4 25 | 21.8% | — | ||
| Q3 25 | -3.5% | — | ||
| Q2 25 | 6.0% | -11.3% | ||
| Q1 25 | -15.9% | — | ||
| Q4 24 | 20.8% | -5.3% | ||
| Q3 24 | -1.5% | — | ||
| Q2 24 | -1.8% | 6.8% | ||
| Q1 24 | -10.7% | — |
| Q4 25 | 1.4% | — | ||
| Q3 25 | 2.1% | — | ||
| Q2 25 | 2.3% | 1.2% | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | 1.6% | 28.0% | ||
| Q3 24 | 1.8% | — | ||
| Q2 24 | 2.5% | 3.4% | ||
| Q1 24 | 2.7% | — |
| Q4 25 | — | — | ||
| Q3 25 | -0.82× | — | ||
| Q2 25 | — | -0.45× | ||
| Q1 25 | -15.34× | — | ||
| Q4 24 | — | 1.88× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
QUAD
| Catalog Publications Retail Inserts Books And Directories | $300.6M | 48% |
| Direct Mail And Other Printed Products | $147.1M | 23% |
| Imaging Marketing Services And Other Services | $79.8M | 13% |
| Logistic Services | $61.4M | 10% |
| Other | $39.3M | 6% |
| Other Revenues | $2.4M | 0% |
RJET
| United Airlines | $517.5M | 48% |
| Delta Air Lines | $409.7M | 38% |
| Other | $49.9M | 5% |
| Republic Airways Holdings Inc. | $42.2M | 4% |
| Other Airlines | $25.7M | 2% |
| LIFT Academy | $23.2M | 2% |
