PACK · Ranpak Holdings Corp. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $395.00M | $368.90M | $336.30M | $326.50M | $383.90M | $298.20M |
| Cost of Revenue | - | - | $213.00M | $226.90M | $235.00M | $175.60M |
| Gross Profit | $130.70M | $139.80M | $123.30M | $99.60M | $148.90M | $122.60M |
| R&D | $4.10M | $4.40M | $3.70M | $3.60M | $1.70M | $2.30M |
| SG&A | $114.50M | $111.90M | $91.80M | $105.50M | $98.30M | $72.50M |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $66.70M | $65.30M | $69.60M | $69.00M | $73.60M | $62.70M |
| Operating Income | ($24.30M) | ($12.80M) | ($7.50M) | ($42.50M) | $12.20M | $11.70M |
| Interest Expense | $34.30M | $28.60M | $24.30M | $20.70M | $22.40M | $30.20M |
| Income Tax | ($9.20M) | ($2.20M) | ($4.20M) | ($15.30M) | ($2.10M) | ($1.20M) |
| Net Income | ($38.30M) | ($21.50M) | ($27.10M) | ($41.40M) | ($2.80M) | ($23.40M) |
| EPS - Basic | ($0.45) | ($0.26) | ($0.33) | ($0.51) | ($0.04) | ($0.32) |
| EPS - Diluted | ($0.45) | ($0.26) | ($0.33) | ($0.51) | ($0.04) | ($0.32) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $63.00M | $76.10M | $62.00M | $62.80M | $103.90M | $48.50M |
| Accounts Receivable | $47.70M | $43.90M | $31.60M | $33.00M | $43.70M | $39.10M |
| Inventory | $30.60M | $21.70M | $17.30M | $25.00M | $32.90M | $16.10M |
| Accounts Payable | $36.70M | $26.90M | $17.60M | $24.30M | $33.50M | $24.90M |
| Current Assets | $153.80M | $151.20M | $124.90M | $139.60M | $191.50M | $107.20M |
| Total Assets | $1.12B | $1.10B | $1.12B | $1.13B | $1.21B | $1.13B |
| Current Liabilities | $84.00M | $68.40M | $48.00M | $39.10M | $71.50M | $57.50M |
| Long-term Debt | $396.40M | $400.80M | $397.80M | $391.70M | $400.40M | $432.70M |
| Total Liabilities | $590.00M | $556.10M | $550.70M | $520.70M | $577.20M | $610.60M |
| Stockholders' Equity | $534.90M | $548.10M | $572.00M | $612.80M | $636.20M | $522.90M |
| Retained Earnings | ($183.60M) | ($145.30M) | ($123.80M) | ($96.70M) | ($55.30M) | ($52.50M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $23.10M | $41.40M | $52.60M | $1.10M | $54.30M | $63.80M |
| Investing Cash Flow | ($32.80M) | ($32.50M) | ($52.40M) | ($37.90M) | ($69.80M) | ($34.50M) |
| Financing Cash Flow | ($7.00M) | $1.80M | ($1.80M) | ($4.50M) | $72.00M | ($1.60M) |
| CapEx | - | - | $55.30M | $44.80M | $54.50M | $32.30M |
| Free Cash Flow | - | - | ($2.70M) | ($43.70M) | ($200.0K) | $31.50M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 33.1% | 37.9% | 36.7% | 30.5% | 38.8% | 41.1% |
| Operating margin | -6.2% | -3.5% | -2.2% | -13.0% | 3.2% | 3.9% |
| EBITDA margin | 10.7% | 14.2% | 18.5% | 8.1% | 22.3% | 24.9% |
| Net margin | -9.7% | -5.8% | -8.1% | -12.7% | -0.7% | -7.8% |
| Free cash flow margin | - | - | -0.8% | -13.4% | -0.1% | 10.6% |
| FCF / Net income | - | - | 0.10 | 1.06 | 0.07 | -1.35 |
| R&D / Revenue | 1.0% | 1.2% | 1.1% | 1.1% | 0.4% | 0.8% |
| SG&A / Revenue | 29.0% | 30.3% | 27.3% | 32.3% | 25.6% | 24.3% |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | -3.4% | -1.9% | -2.4% | -3.7% | -0.2% | -2.1% |
| Return on equity | -7.2% | -3.9% | -4.7% | -6.8% | -0.4% | -4.5% |
| Return on invested capital | -2.1% | -1.1% | -0.6% | -3.3% | 0.9% | 1.0% |
| Liquidity | ||||||
| Current ratio | 1.83 | 2.21 | 2.60 | 3.57 | 2.68 | 1.86 |
| Quick ratio | 1.47 | 1.89 | 2.24 | 2.93 | 2.22 | 1.58 |
| Cash ratio | 0.75 | 1.11 | 1.29 | 1.61 | 1.45 | 0.84 |
| Leverage | ||||||
| Debt / Equity | 0.74 | 0.73 | 0.70 | 0.64 | 0.63 | 0.83 |
| Debt / Assets | 0.35 | 0.36 | 0.35 | 0.35 | 0.33 | 0.38 |
| Debt / EBITDA | 9.35 | 7.63 | 6.41 | 14.78 | 4.67 | 5.82 |
| Interest coverage | -0.7x | -0.4x | -0.3x | -2.1x | 0.5x | 0.4x |
| Equity multiplier | 2.10 | 2.01 | 1.96 | 1.85 | 1.91 | 2.17 |
| Liabilities / Assets | 0.52 | 0.50 | 0.49 | 0.46 | 0.48 | 0.54 |
| Efficiency | ||||||
| Asset turnover | 0.35 | 0.33 | 0.30 | 0.29 | 0.32 | 0.26 |
| Inventory turnover | - | - | 12.31 | 9.08 | 7.14 | 10.91 |
| Days sales outstanding | 44d | 43d | 34d | 37d | 42d | 48d |
| Days inventory outstanding | - | - | 30d | 40d | 51d | 33d |
| Days payable outstanding | - | - | 30d | 39d | 52d | 52d |
| Cash conversion cycle | - | - | 34d | 38d | 41d | 30d |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | 0.9x | 1.0x | 0.8x | 0.8x | 4.6x | 1.9x |
| P / S | 1.2x | 1.5x | 1.4x | 1.4x | 7.7x | 3.3x |
| EV / EBITDA | 18.6x | 17.1x | 13.1x | 30.2x | 37.9x | 18.2x |
| Growth | ||||||
| Revenue growth (YoY) | 7.1% | 9.7% | 3.0% | -15.0% | 28.7% | 22.2% |
| Revenue CAGR (3y) | 6.6% | -1.3% | 4.1% | 10.2% | - | - |
| Revenue CAGR (5y) | 5.8% | 8.6% | - | - | - | - |
| Gross profit growth (YoY) | -6.5% | 13.4% | 23.8% | -33.1% | 21.5% | 9.1% |
| Operating income growth (YoY) | -89.8% | -70.7% | 82.4% | - | 4.3% | -62.5% |
| Net income growth (YoY) | -78.1% | 20.7% | 34.5% | -1378.6% | 88.0% | - |
| EPS growth (YoY) | -73.1% | 21.2% | 35.3% | -1175.0% | 87.5% | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | 93.8% | -21750.0% | - | 64.1% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | -2.4% | -4.2% | -6.7% | -3.7% | 21.7% | 217.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$332.70M totalEurope And Asia Segment$175.70M · 52.8%
North America Segment$157.00M · 47.2%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
0.57
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✗Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Converted Paper & Paperboard Prods (No Contaners/Boxes)
Comparing Ranpak Holdings Corp. against the 3 most active filers in the same SIC group.