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Stock research / United States / PACK · Converted Paper & Paperboard Prods (No Contaners/Boxes) · NYSE

Ranpak Holdings Corp. (PACK)

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Ranpak Holdings Corp. (PACK) reported revenue of $102 million for Q3 FY2026, the quarter ended 30 September 2026, up 2.3% on the same quarter a year earlier. Net income was -$7 million, and diluted earnings per share $-0.08. The figures are the company's own, from the 10-Q it filed with the SEC on 29 October 2026.

Revenue$102 millionup 2.3%
Net income-$7 million
Diluted EPS$-0.08
QuarterQ3 FY2026ended 30 September 2026

Ranpak Holdings (PACK) in brief

Ranpak Holdings (PACK) reported revenue of $395 million for fiscal 2025, the year ended 31 December 2025, up 7.1% on the year before.
Read moreNet loss was $38 million and the diluted loss per share $0.45. Revenue was $369 million in fiscal 2024, $336 million in fiscal 2023, $326 million in fiscal 2022 and $384 million in fiscal 2021. Net income in the same years was a loss of $22 million, a loss of $27 million, a loss of $41 million and a loss of $3 million. Over the twelve months to 30 September 2026, Ranpak Holdings reported revenue of $420 million and net loss of $35 million. Revenue grew 5.8% a year, compounded, over the five years to fiscal 2025. Ranpak Holdings had 86 million shares outstanding at the latest filed count. At 30 September 2026 it carried $408 million of debt and $53 million of cash. At the close of 30 October 2026 the market cap of Ranpak Holdings was $272 million.

Ratios

From the filings

ROE-6.8%
ROCE-0.8%
Operating margin-1.7%
Net margin-8.3%
FCF marginn/a
Interest cover-0.21
Debt to equity0.79
Cash conversionn/a
Share count, last 12 months1.7%
Sales CAGR, 3 years6.6%
Profit CAGR, 3 yearsn/a
EPS, TTM-$0.40

At the close of 30 October 2026

Price$3.17
Market cap$272 million
Stock P/En/a
Price to book0.53
EV / EBITDA14.21
Dividend yieldn/a
Market cap / sales0.65
52-week high$7.64
52-week low$3.17
Price, 1 year-31.5%
Price CAGR, 3 years0.1%
Price CAGR, 5 years-37.9%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as Ranpak Holdings Corp. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
PACKgreeksoup.ai
Daily prices to 30 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on PACK

Dividendsno dividend in its filings for fiscal 2017 onward
Filings14 in twelve months: 5 current reports (8-K), about 4 results of operations; 1 shareholder vote
Planned insider salesno Form 144 notice in twelve months
Options tapeput/call 0.17 by open interest at the 30 October 2026 close; the straddle prices a 22.8% move to 20 November 2026
13F holders134 funds reported a position for the quarter to 30 June 2026; largest JS Capital Management LLC
Insider trading0 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest2.5 million shares short, 4.51 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue10982.586.877.879.481.281.982.890.485.386.492.210591.292.399.6112101105102
Cost of revenue70.257.958.553.457.153.751.751.356.353.054.757.8n/an/an/an/an/an/an/an/a
Gross profit38.924.628.324.422.327.530.231.534.132.331.734.441.430.928.934.436.534.934.536.3
Gross margin36%30%33%31%28%34%37%38%38%38%37%37%39%34%31%35%33%34%33%36%
SG&A27.529.730.326.818.727.216.320.927.427.927.328.827.928.928.829.627.229.227.625.7
Operating income1.1-13.811.4-11.7-28.4-8.94.41.6-4.6-4.8-5.2-4.21.4-8.0-9.7-5.7-0.9-3.8-2.40.0
Operating margin1%-17%13%-15%-36%-11%5%2%-5%-6%-6%-5%1%-9%-11%-6%-1%-4%-2%0%
Interest expense5.35.04.95.35.55.75.96.85.96.25.39.37.88.78.38.78.68.68.18.7
Pre-tax income-2.8-18.2-14.0-11.8-12.7-14.5-1.8-4.4-10.6-9.67.3-10.6-10.8-14.1-9.5-14.6-9.3-13.7-10.8-9.0
Tax raten/an/an/an/an/an/an/an/an/an/a25%n/an/an/an/an/an/an/an/an/a
Net income-2.5-14.1-11.3-8.7-7.3-12.4-2.1-3.3-9.3-8.15.5-8.1-10.8-10.9-7.5-10.4-9.5-10.2-7.9-7.2
Net margin-2%-17%-13%-11%-9%-15%-3%-4%-10%-9%6%-9%-10%-12%-8%-10%-8%-10%-8%-7%
Diluted EPS-$0.03-$0.17-$0.14-$0.11-$0.09-$0.15-$0.03-$0.04-$0.11-$0.10$0.07-$0.10-$0.13-$0.13-$0.09-$0.12-$0.11-$0.12-$0.09-$0.08
Operating cash flow13.59.4-25.76.810.67.59.16.429.65.219.610.16.5-1.3-3.68.519.54.42.717.7
Capital expenditure13.99.813.011.210.811.813.49.720.42.32.1n/a0.80.21.91.4n/a0.92.74.4
Free cash flow-0.4-0.4-38.7-4.4-0.2-4.3-4.3-3.39.22.917.5n/a5.7-1.5-5.57.1n/a3.50.013.3
Shares outstanding81mn/an/an/an/an/an/an/an/an/an/an/a83m84m84m84m84m86m86m86m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 9 fiscal years and the trailing twelve months

FY2017FY2018FY2019 † ‡FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue244268270298384326336369395420
Cost of revenue132153159176235227213n/an/an/a
Gross profit11211511112314999.6123140131142
Gross margin46.0%42.8%41.2%41.1%38.8%30.5%36.7%37.9%33.1%33.8%
Research and development2.22.42.12.31.73.63.74.44.1n/a
Selling, general and administrative46.353.261.572.598.310691.8112114110
Operating income31.211.02.211.712.2-42.5-7.5-12.8-24.3-7.1
Operating margin12.8%4.1%0.8%3.9%3.2%-13.0%-2.2%-3.5%-6.2%-1.7%
Interest expense30.730.947.530.222.420.724.328.634.334.0
Pre-tax income-13.7-15.7-43.8-24.6-4.9-56.7-31.3-23.7-47.5-42.8
Income tax-41.4-7.1-7.6-1.2-2.1-15.3-4.2-2.2-9.2-8.0
Net income27.7-8.6-36.2-23.4-2.8-41.4-27.1-21.5-38.3-34.8
Net margin11.3%-3.2%-13.4%-7.8%-0.7%-12.7%-8.1%-5.8%-9.7%-8.3%
Diluted EPSn/an/an/a-$0.32-$0.04-$0.51-$0.33-$0.26-$0.45-$0.40
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed. ‡ Filed in two parts, up to 2 June 2019 and after it, on the old and the new accounting basis; shown added together, with per-share figures left blank.

Revenue by segment FY2023 to FY2025

Ranpak Holdings runs its business by region, so its segments are regions.

FY2023FY2024FY2025Share
of the parts, latest year
Europe/Asia19920620952.9%
North America13716318647.1%
Europe/AsiaNorth America
336FY2023369FY2024395FY2025

$ million; hover a block for its figure and share

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2017FY2018FY2019 † ‡FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow46.242.026.363.854.31.152.641.423.144.3
Capital expenditure27.024.829.732.354.544.855.34.83.3n/a
Free cash flow19.217.2-3.431.5-0.2-43.7-2.736.619.8n/a
Free cash flow margin7.9%6.4%-1.3%10.6%-0.1%-13.4%-0.8%9.9%5.0%n/a
Cash from investing-29.1-25.3-668-34.5-69.8-37.9-52.4-32.5-32.8-40.4
Cash from financing-14.2-7.7651-1.672.0-4.5-1.81.8-7.00.1
Depreciation and amortisation61.164.558.362.773.669.069.665.366.751.2
Share-based compensationn/an/a1.77.222.518.3-10.26.37.65.1
Buybacks1.60.00.00.00.0n/an/an/an/an/a
Diluted shares, weighted995995n/a72m79m82m82m83m84m86m
Shares outstanding at period endn/a99571m76m81mn/an/a83m84m86m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2017FY2018FY2019 † ‡FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity212196532523636613572548535514
Debtn/a506420433401393400406402408
Operating lease liabilitiesn/an/an/a0.04.34.024.720.824.222.4
Finance lease liabilitiesn/a0.24.69.60.90.81.02.71.81.3
Other liabilitiesn/a89.6148168171123125126162146
Total liabilities and equityn/a7931,1041,1341,2131,1341,1231,1041,1251,092
Owned
Fixed assetsn/a73.0122124126124142n/an/an/a
Goodwill360356449458453447450444457453
Intangible assetsn/a294459441406372345312292268
Cash and equivalents8.617.519.748.510462.862.076.163.053.4
Receivablesn/a31.536.139.143.733.031.643.947.743.8
Inventoryn/a11.811.616.132.925.017.321.730.629.1
Other assetsn/a9.57.16.447.169.974.2207235244
Total assetsn/a7931,1041,1341,2131,1341,1231,1041,1251,092
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/a5.8%6.6%8.3%
Profit growth, compoundedn/an/an/an/a
Return on equity, average-2.8%-4.6%-5.3%-7.2%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Ranpak Holdings' revenue in fiscal 2025?

Ranpak Holdings (PACK) reported revenue of $395 million for fiscal 2025, the year ended 31 December 2025, up 7.1% on the year before.

How much did Ranpak Holdings earn in fiscal 2025?

Net loss was $38 million for fiscal 2025, and the diluted loss per share $0.45.

What is Ranpak Holdings' market cap?

The market cap of Ranpak Holdings was $272 million at the close of 30 October 2026.

How much debt does Ranpak Holdings have?

At 30 September 2026 Ranpak Holdings carried $408 million of debt and $53 million of cash.

Peers: Business Supplies

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Kimberly Clark Corp. KMB$35.9 billion18.36111.7%n/a0.7%3.724.7%
Avery Dennison Corp. AVY$13.8 billion19.9630.3%n/a5.8%1.582.1%
HNI Corp. HNI$3.5 billion544.720.2%2.0%70.1%0.762.8%
Millerknoll, Inc. MLKN$1.5 billion15.247.2%5.2%1.2%0.963.5%
Sylvamo Corp. SLVM$1.3 billion17.178.0%5.3%-7.1%1.015.6%
Mativ Holdings, Inc. MATV$626 million7.1819.0%3.5%1.1%2.153.5%
Ennis, Inc. EBF$541 million13.9612.4%13.6%2.3%0.004.7%
Rayonier Advanced Materials Inc. RYAM$447 millionn/a-71.9%-3.5%-3.3%3.98n/a
Magnera Corp. MAGN$422 millionn/an/an/an/a1.87n/a
Ranpak Holdings Corp. PACK$272 millionn/a-6.8%-1.7%8.3%0.79n/a
Clearwater Paper Corp. CLW$214 million82.910.3%-1.6%-3.2%0.71n/a
Virco MFG Corporation VIRC$98 millionn/a-2.3%-2.5%-19.0%0.031.6%
All 14 in Business Supplies
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Kimberly Clark Corp. KMB$35.9 billion18.36111.7%n/a0.7%3.724.7%
International Paper Co. IP$22.8 billionn/a-23.8%n/a25.4%0.645.1%
Avery Dennison Corp. AVY$13.8 billion19.9630.3%n/a5.8%1.582.1%
Reynolds Consumer Products Inc. REYN$5.0 billion14.4114.9%n/a2.7%0.663.9%
HNI Corp. HNI$3.5 billion544.720.2%2.0%70.1%0.762.8%
Millerknoll, Inc. MLKN$1.5 billion15.247.2%5.2%1.2%0.963.5%
Sylvamo Corp. SLVM$1.3 billion17.178.0%5.3%-7.1%1.015.6%
Mativ Holdings, Inc. MATV$626 million7.1819.0%3.5%1.1%2.153.5%
Ennis, Inc. EBF$541 million13.9612.4%13.6%2.3%0.004.7%
Rayonier Advanced Materials Inc. RYAM$447 millionn/a-71.9%-3.5%-3.3%3.98n/a
Magnera Corp. MAGN$422 millionn/an/an/an/a1.87n/a
Ranpak Holdings Corp. PACK$272 millionn/a-6.8%-1.7%8.3%0.79n/a
Clearwater Paper Corp. CLW$214 million82.910.3%-1.6%-3.2%0.71n/a
Virco MFG Corporation VIRC$98 millionn/a-2.3%-2.5%-19.0%0.031.6%
2 companies share its SEC industry code (Converted Paper & Paperboard Prods (No Contaners/Boxes)); the rest are the names nearest in size in its wider industry, Business Supplies, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 September 202629 October 2026EDGAR
10-Q30 June 202630 July 2026EDGAR
10-Q31 March 202630 April 2026EDGAR
10-K31 December 20255 March 2026EDGAR
10-Q30 September 202530 October 2025EDGAR
10-Q30 June 20255 August 2025EDGAR
10-Q31 March 20256 May 2025EDGAR
10-K31 December 202417 March 2025EDGAR
10-Q30 September 202431 October 2024EDGAR
10-Q30 June 20241 August 2024EDGAR