NYSE : PACK
Ranpak Holdings Corp. — Financial statements
Consumer Discretionary · Packaging & Containers · United States
Last price 3.4 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 291.63M
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Financial statements
Ranpak Holdings Corp. (PACK) reported revenue of 420.20M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 420.20M | 395.00M | 368.90M | 336.30M | 326.50M | 369.10M |
| Other Revenue | 14.80M | |||||
| Revenue | 420.20M | 395.00M | 368.90M | 336.30M | 326.50M | 383.90M |
| Cost of Revenue | 278.00M | 264.30M | 229.10M | 213.00M | 226.90M | 235.00M |
| Gross Profit | 142.20M | 130.70M | 139.80M | 123.30M | 99.60M | 148.90M |
| Selling, General & Admin | 97.80M | 102.80M | 102.00M | 99.00M | 84.40M | 98.30M |
| Other Operating Expenses | 3.50M | 4.20M | 4.40M | 3.80M | 3.40M | 1.60M |
| Operating Expenses | 136.70M | 143.00M | 141.50M | 136.60M | 119.90M | 134.90M |
| Operating Income | 5.50M | -12.30M | -1.70M | -13.30M | -20.30M | 14.00M |
| Interest Expense | -34.00M | -34.30M | -28.60M | -24.30M | -20.70M | -22.40M |
| Currency Exchange Gain (Loss) | -1.50M | 5.30M | 1.60M | 300.00K | 2.20M | 5.30M |
| Other Non Operating Income (Expenses) | -200.00K | -200.00K | 200.00K | 400.00K | ||
| EBT Excluding Unusual Items | -30.20M | -41.30M | -28.90M | -37.10M | -38.40M | -3.10M |
| Gain (Loss) on Sale of Investments | 5.80M | -400.00K | 3.90M | |||
| Gain (Loss) on Sale of Assets | -700.00K | -300.00K | 4.20M | -1.40M | -1.10M | -1.80M |
| Asset Writedown | -4.30M | -4.10M | -3.60M | -3.00M | -2.80M | |
| Legal Settlements | 16.10M | |||||
| Other Unusual Items | -7.60M | -7.60M | -11.10M | 10.20M | -18.30M | |
| Pretax Income | -42.80M | -47.50M | -23.70M | -31.30M | -56.70M | -4.90M |
| Income Tax Expense | -8.00M | -9.20M | -2.20M | -4.20M | -15.30M | -2.10M |
| Net Income | -34.80M | -38.30M | -21.50M | -27.10M | -41.40M | -2.80M |
| Net Income to Common | -34.80M | -38.30M | -21.50M | -27.10M | -41.40M | -2.80M |
| Shares Outstanding (Basic) | 975.92B | 84.18M | 83.06M | 82.37M | 81.88M | 78.54M |
| Shares Outstanding (Diluted) | 975.92B | 84.18M | 83.06M | 82.37M | 81.88M | 78.54M |
| EPS (Basic) | -0.00 | -0.45 | -0.26 | -0.33 | -0.51 | -0.04 |
| EPS (Diluted) | -0.00 | -0.45 | -0.26 | -0.33 | -0.51 | -0.04 |
| Free Cash Flow | 13.90M | -7.20M | 8.30M | -2.70M | -43.70M | -200.00K |
| Free Cash Flow Per Share | 0.00 | -0.09 | 0.10 | -0.03 | -0.53 | -0.00 |
| Gross Margin | 33.84% | 33.09% | 37.90% | 36.66% | 30.50% | 38.79% |
| Operating Margin | 1.31% | -3.11% | -0.46% | -3.96% | -6.22% | 3.65% |
| Profit Margin | -8.28% | -9.70% | -5.83% | -8.06% | -12.68% | -0.73% |
| Free Cash Flow Margin | 3.31% | -1.82% | 2.25% | -0.80% | -13.38% | -0.05% |
| EBITDA | 71.10M | 54.40M | 63.60M | 56.30M | 48.70M | 87.60M |
| EBITDA Margin | 16.92% | 13.77% | 17.24% | 16.74% | 14.92% | 22.82% |
| D&A For EBITDA | 65.60M | 66.70M | 65.30M | 69.60M | 69.00M | 73.60M |
| EBIT | 5.50M | -12.30M | -1.70M | -13.30M | -20.30M | 14.00M |
| EBIT Margin | 1.31% | -3.11% | -0.46% | -3.96% | -6.22% | 3.65% |
| Revenue as Reported | 420.20M | 395.00M | 368.90M | 336.30M | 326.50M | 383.90M |
| Advertising Expenses | 1.00M | 1.00M | 1.10M | 1.10M | 900.00K |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 53.40M | 63.00M | 76.10M | 62.00M | 62.80M | 103.90M |
| Trading Asset Securities | 2.70M | 3.20M | 6.30M | |||
| Cash & Short-Term Investments | 53.40M | 65.70M | 76.10M | 65.20M | 69.10M | 103.90M |
| Accounts Receivable | 44.40M | 48.60M | 43.90M | 31.60M | 33.00M | 43.70M |
| Other Receivables | 7.40M | 1.90M | 1.80M | 900.00K | 2.10M | 2.70M |
| Receivables | 51.80M | 50.50M | 45.70M | 32.50M | 35.10M | 46.40M |
| Inventory | 29.10M | 30.60M | 21.70M | 17.30M | 25.00M | 32.90M |
| Prepaid Expenses | 8.80M | 6.80M | 7.50M | 9.60M | 10.10M | 8.30M |
| Other Current Assets | 1.80M | 200.00K | 200.00K | 300.00K | 300.00K | |
| Total Current Assets | 144.90M | 153.80M | 151.20M | 124.90M | 139.60M | 191.50M |
| Property, Plant & Equipment | 157.70M | 162.70M | 158.50M | 165.80M | 130.00M | 132.90M |
| Long-Term Investments | 1.80M | |||||
| Goodwill | 453.10M | 457.20M | 443.70M | 450.10M | 446.70M | 453.00M |
| Other Intangible Assets | 268.10M | 308.40M | 328.90M | 364.60M | 390.40M | 406.50M |
| Long-Term Accounts Receivable | 10.20M | 10.40M | ||||
| Long-Term Deferred Tax Assets | 400.00K | 400.00K | 100.00K | 100.00K | 600.00K | 100.00K |
| Long-Term Deferred Charges | 700.00K | 900.00K | 400.00K | 200.00K | 5.90M | |
| Other Long-Term Assets | 57.50M | 31.30M | 20.90M | 16.80M | 24.20M | 23.50M |
| Total Assets | 1.09B | 1.12B | 1.10B | 1.12B | 1.13B | 1.21B |
| Accounts Payable | 31.90M | 36.70M | 26.90M | 17.60M | 24.30M | 33.50M |
| Accrued Expenses | 12.70M | 13.70M | 16.10M | 14.70M | 5.50M | 17.90M |
| Current Portion of Long-Term Debt | 7.60M | 3.90M | 4.00M | 1.60M | 600.00K | 4.20M |
| Current Portion of Leases | 5.80M | 5.50M | 5.60M | 4.70M | 2.70M | 3.00M |
| Current Income Taxes Payable | 4.70M | 5.40M | 7.90M | 2.50M | 3.40M | 6.90M |
| Current Unearned Revenue | 11.60M | 14.00M | 3.40M | 2.00M | 900.00K | 3.10M |
| Other Current Liabilities | 6.70M | 4.80M | 4.50M | 4.90M | 1.70M | 2.90M |
| Total Current Liabilities | 81.00M | 84.00M | 68.40M | 48.00M | 39.10M | 71.50M |
| Long-Term Debt | 397.80M | 394.60M | 398.10M | 396.80M | 390.90M | 401.90M |
| Long-Term Leases | 23.70M | 26.00M | 23.50M | 25.70M | 4.80M | 5.20M |
| Long-Term Deferred Tax Liabilities | 48.00M | 50.70M | 62.00M | 71.60M | 80.80M | 97.70M |
| Other Long-Term Liabilities | 27.50M | 34.70M | 4.10M | 8.60M | 5.10M | 900.00K |
| Total Liabilities | 578.00M | 590.00M | 556.10M | 550.70M | 520.70M | 577.20M |
| Additional Paid-In Capital | 729.40M | 722.30M | 699.60M | 693.70M | 704.30M | 688.90M |
| Retained Earnings | -208.90M | -183.60M | -145.30M | -123.80M | -96.70M | -55.30M |
| Comprehensive Income & Other | -6.60M | -3.80M | -6.20M | 2.10M | 5.20M | 2.60M |
| Shareholders' Equity | 513.90M | 534.90M | 548.10M | 572.00M | 612.80M | 636.20M |
| Total Liabilities & Equity | 1.09B | 1.12B | 1.10B | 1.12B | 1.13B | 1.21B |
| Total Debt | 434.90M | 430.00M | 431.20M | 428.80M | 399.00M | 414.30M |
| Net Cash (Debt) | -381.50M | -364.30M | -355.10M | -363.60M | -329.90M | -310.40M |
| Net Cash Per Share | -0.00 | -4.33 | -4.28 | -4.41 | -4.03 | -3.95 |
| Filing Date Shares Outstanding | 85.79M | 84.72M | 83.61M | 82.62M | 82.39M | 81.41M |
| Total Common Shares Outstanding | 85.77M | 84.39M | 83.27M | 82.61M | 82.01M | 81.40M |
| Working Capital | 63.90M | 69.80M | 82.80M | 76.90M | 100.50M | 120.00M |
| Book Value Per Share | 5.99 | 6.34 | 6.58 | 6.92 | 7.47 | 7.82 |
| Tangible Book Value | -207.30M | -230.70M | -224.50M | -242.70M | -224.30M | -223.30M |
| Tangible Book Value Per Share | -2.42 | -2.73 | -2.70 | -2.94 | -2.74 | -2.74 |
| Land | 2.40M | 2.40M | 2.40M | 2.40M | 4.00M | 4.10M |
| Buildings | 13.10M | 12.80M | 12.50M | 12.30M | 12.90M | 9.20M |
| Machinery | 325.30M | 316.60M | 280.30M | 264.30M | 228.30M | 199.10M |
| Leasehold Improvements | 22.50M | 22.90M | 20.70M | 20.70M | 400.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -34.80M | -38.30M | -21.50M | -27.10M | -41.40M | -2.80M |
| Depreciation & Amortization | 65.60M | 66.70M | 65.30M | 69.60M | 69.00M | 73.60M |
| Other Amortization | 5.70M | 5.40M | 6.40M | 5.20M | 4.30M | 1.90M |
| Loss (Gain) From Sale of Assets | 700.00K | 300.00K | -4.20M | 1.40M | 1.10M | 1.80M |
| Loss (Gain) From Sale of Investments | -5.80M | -800.00K | -2.40M | -4.70M | -800.00K | |
| Stock-Based Compensation | 5.10M | 7.60M | 6.30M | -10.20M | 18.30M | 22.50M |
| Other Operating Activities | -2.50M | -7.90M | -3.70M | -6.20M | -21.90M | -18.30M |
| Change in Accounts Receivable | -1.90M | -4.40M | -11.60M | 6.90M | 9.10M | -6.90M |
| Change in Inventory | 6.80M | -7.50M | -4.80M | 5.30M | 7.60M | -17.20M |
| Change in Accounts Payable | -2.50M | 8.50M | 9.10M | -700.00K | -12.40M | 5.70M |
| Change in Income Taxes | 2.30M | -1.00M | 400.00K | 600.00K | ||
| Change in Other Net Operating Assets | -200.00K | -1.50M | 1.90M | 10.40M | -28.50M | -5.20M |
| Operating Cash Flow | 44.30M | 23.10M | 41.40M | 52.60M | 1.10M | 54.30M |
| Capital Expenditures | -30.40M | -30.30M | -33.10M | -55.30M | -44.80M | -54.50M |
| Sale of Property, Plant & Equipment | 2.90M | |||||
| Sale (Purchase) of Intangibles | 5.40M | -1.00M | -1.20M | |||
| Investment in Securities | -10.00M | -2.50M | -4.80M | -2.10M | -14.10M | |
| Other Investing Activities | 10.00M | |||||
| Investing Cash Flow | -40.40M | -32.80M | -32.50M | -52.40M | -37.90M | -69.80M |
| Long-Term Debt Issued | 1.10M | 410.70M | 3.20M | |||
| Long-Term Debt Repaid | -7.60M | -393.80M | -3.50M | -2.00M | -23.20M | |
| Net Debt Issued (Repaid) | 500.00K | -6.50M | 16.90M | -300.00K | -2.00M | -23.20M |
| Issuance of Common Stock | 104.00M | |||||
| Repurchase of Common Stock | -1.20M | -1.20M | -400.00K | -500.00K | -2.50M | |
| Other Financing Activities | 800.00K | 700.00K | -14.70M | -1.00M | -8.80M | |
| Financing Cash Flow | 100.00K | -7.00M | 1.80M | -1.80M | -4.50M | 72.00M |
| Foreign Exchange Rate Adjustments | -500.00K | 3.60M | 3.40M | 800.00K | 200.00K | -1.10M |
| Net Cash Flow | 3.50M | -13.10M | 14.10M | -800.00K | -41.10M | 55.40M |
| Free Cash Flow | 13.90M | -7.20M | 8.30M | -2.70M | -43.70M | -200.00K |
| Free Cash Flow Margin | 3.31% | -1.82% | 2.25% | -0.80% | -13.38% | -0.05% |
| Free Cash Flow Per Share | 0.00 | -0.09 | 0.10 | -0.03 | -0.53 | -0.00 |
| Levered Free Cash Flow | 32.69M | 23.07M | 33.06M | 2.50M | 8.78M | 20.05M |
| Unlevered Free Cash Flow | 52.54M | 43.21M | 48.14M | 15.49M | 20.21M | 32.15M |
| Cash Interest Paid | 33.90M | 37.40M | 29.80M | 26.00M | 20.50M | 21.70M |
| Cash Income Tax Paid | 1.30M | 2.10M | 2.20M | 2.80M | 2.70M | 8.40M |
| Change in Working Capital | 4.50M | -4.90M | -6.40M | 22.30M | -23.60M | -23.60M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 268.51M | 456.47M | 572.81M | 480.76M | 473.18M | 3.06B |
| Enterprise Value | 650.01M | 838.67M | 932.81M | 842.56M | 792.78M | 3.37B |
| Last Close Price | 3.18 | 5.41 | 6.88 | 5.82 | 5.77 | 37.58 |
| Forward PE | 77.69 | 77.69 | 77.69 | 77.69 | 176.85 | |
| PS Ratio | 0.64 | 1.16 | 1.55 | 1.43 | 1.45 | 7.97 |
| PB Ratio | 0.53 | 0.85 | 1.04 | 0.84 | 0.77 | 4.81 |
| P/FCF Ratio | 19.47 | 69.01 | ||||
| P/OCF Ratio | 6.11 | 19.76 | 13.84 | 9.14 | 430.16 | 56.34 |
| PEG Ratio | 121.00 | 121.00 | 121.00 | 121.00 | 17.68 | |
| EV/Sales Ratio | 1.55 | 2.12 | 2.53 | 2.50 | 2.43 | 8.78 |
| EV/EBITDA Ratio | 9.17 | 15.42 | 14.67 | 14.97 | 16.28 | 38.47 |
| EV/EBIT Ratio | 118.57 | 240.71 | ||||
| EV/FCF Ratio | 46.92 | 112.39 | ||||
| Debt / Equity Ratio | 0.85 | 0.80 | 0.79 | 0.75 | 0.65 | 0.65 |
| Debt / EBITDA Ratio | 5.51 | 6.95 | 6.08 | 6.93 | 7.66 | 4.57 |
| Debt / FCF Ratio | 31.29 | 51.95 | ||||
| Net Debt / Equity Ratio | 0.74 | 0.68 | 0.65 | 0.64 | 0.54 | 0.49 |
| Net Debt / EBITDA Ratio | 5.37 | 6.70 | 5.58 | 6.46 | 6.77 | 3.54 |
| Net Debt / FCF Ratio | 27.45 | -50.60 | 42.78 | -134.67 | -7.55 | -1,552.00 |
| Asset Turnover | 0.38 | 0.35 | 0.33 | 0.30 | 0.28 | 0.33 |
| Inventory Turnover | 8.54 | 10.11 | 11.75 | 10.07 | 7.84 | 9.59 |
| Quick Ratio | 1.30 | 1.38 | 1.78 | 2.04 | 2.67 | 2.10 |
| Current Ratio | 1.79 | 1.83 | 2.21 | 2.60 | 3.57 | 2.68 |
| Return on Equity (ROE) | -6.62% | -7.07% | -3.84% | -4.58% | -6.63% | -0.48% |
| Return on Assets (ROA) | 0.31% | -0.69% | -0.10% | -0.74% | -1.08% | 0.75% |
| Return on Capital Employed (ROCE) | 0.50% | -1.20% | -0.20% | -1.20% | -1.90% | 1.20% |
| Earnings Yield | -0.00% | -8.39% | -3.75% | -5.64% | -8.75% | -0.09% |
| FCF Yield | 5.14% | -1.58% | 1.45% | -0.56% | -9.23% | -0.01% |
| Buyback Yield / Dilution | 98.45% | -1.35% | -0.83% | -0.61% | -4.25% | -8.43% |