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Ranpak Holdings Corp., together with its subsidiaries, provides product protection solutions and end-of-line automation solutions for e-commerce and industrial supply chains in North America, Europe, and Asia. The company offers protective packaging solutions, such as void-fill protective systems that convert paper to fill empty spaces in secondary packages and protect objects under the FillPak brand; cushioning protective systems, which convert paper into cushioning pads under the PadPak brand; wrapping protective systems that create pads or paper mesh to wrap and protect fragile items, as well as to line boxes and provide separation when shipping various objects under the WrapPak and Geami brands; and cold chain products, which are used to provide insulation for temperature controlled goods during transport. It also provides end-of-line packaging automation for product distribution and shipping, as well as products that help end users automate the void filling and box closure processes after product packing is complete. The company sells its products to end users primarily through a distributor network and directly to end-users. The company was founded in 1972 and is headquartered in Concord Township, Ohio.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $395M | $54M | $-38M | $-7M | -7.2% | 7.1% | - |
| 2024 | $369M | $70M | $-22M | $8M | -3.9% | 9.7% | - |
| 2023 | $336M | $63M | $-27M | $-3M | -4.7% | 3.0% | - |
| 2022 | $327M | $33M | $-41M | $-45M | -6.8% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 326.50 | 336.30 | 368.90 | 395 |
| Cost Of Revenue | 226.90 | 213 | 229.10 | 264.30 |
| Gross Profit | 99.60 | 123.30 | 139.80 | 130.70 |
| Operating Expense | 142.10 | 130.80 | 152.60 | 155 |
| Operating Income | -42.50 | -7.50 | -12.80 | -24.30 |
| EBITDA | 33 | 62.60 | 70.20 | 53.50 |
| EBIT | -36 | -7 | 4.90 | -13.20 |
| Pretax Income | -56.70 | -31.30 | -23.70 | -47.50 |
| Tax Provision | -15.30 | -4.20 | -2.20 | -9.20 |
| Net Income | -41.40 | -27.10 | -21.50 | -38.30 |
| Net Income Common Stockholders | -41.40 | -27.10 | -21.50 | -38.30 |
| Total Expenses | 369 | 343.80 | 381.70 | 419.30 |
| Interest Expense | 20.70 | 24.30 | 28.60 | 34.30 |
| Selling General And Administration | 105.50 | 91.80 | 111.90 | 114.50 |
| Normalized EBITDA | 30.80 | 62.30 | 73.40 | 48.20 |
| Normalized Income | -43 | -27.36 | -18.60 | -42.57 |
| Basic EPS | -0.51 | -0.33 | -0.23 | -0.45 |
| Diluted EPS | -0.51 | -0.33 | -0.23 | -0.45 |
| Tax Effect Of Unusual Items | 0.60 | 0.04 | -0.30 | 1.03 |
| Tax Rate For Calcs | 0.27 | 0.13 | 0.09 | 0.19 |
| Total Unusual Items | 2.20 | 0.30 | -3.20 | 5.30 |
| Total Unusual Items Excluding Goodwill | 2.20 | 0.30 | -3.20 | 5.30 |
| Net Income From Continuing Operation Net Minority Interest | -41.40 | -27.10 | -21.50 | -38.30 |
| Reconciled Depreciation | 69 | 69.60 | 65.30 | 66.70 |
| Reconciled Cost Of Revenue | 190 | 177.20 | 198.90 | 233.60 |
| Net Interest Income | -20.70 | -24.30 | -28.60 | -34.30 |
| Net Income From Continuing And Discontinued Operation | -41.40 | -27.10 | -21.50 | -38.30 |
| Rent Expense Supplemental | 34.30 | 31.70 | 26.20 | 27.10 |
| Total Operating Income As Reported | -42.50 | -7.50 | -12.80 | -24.30 |
| Diluted Average Shares | 81.88 | 82.37 | 83.06 | 84.18 |
| Basic Average Shares | 81.88 | 82.37 | 83.06 | 84.18 |
| Diluted NI Availto Com Stockholders | -41.40 | -27.10 | -21.50 | -38.30 |
| Net Income Including Noncontrolling Interests | -41.40 | -27.10 | -21.50 | -38.30 |
| Net Income Continuous Operations | -41.40 | -27.10 | -21.50 | -38.30 |
| Other Income Expense | 6.50 | 0.50 | 17.70 | 11.10 |
| Other Non Operating Income Expenses | 4.30 | 0.20 | 20.90 | 5.80 |
| Special Income Charges | 0 | 0 | -4.80 | 0 |
| Other Special Charges | 0 | 0 | 4.80 | 0 |
| Restructuring And Mergern Acquisition | 0 | 0 | 0 | 0 |
| Gain On Sale Of Security | 2.20 | 0.30 | 1.60 | 5.30 |
| Net Non Operating Interest Income Expense | -20.70 | -24.30 | -28.60 | -34.30 |
| Interest Expense Non Operating | 20.70 | 24.30 | 28.60 | 34.30 |
| Other Operating Expenses | 4.50 | 5.20 | 5.60 | 4.50 |
| Depreciation Amortization Depletion Income Statement | 32.10 | 33.80 | 35.10 | 36 |
| Depreciation And Amortization In Income Statement | 32.10 | 33.80 | 35.10 | 36 |
| Operating Revenue | 326.50 | 336.30 | 368.90 | 395 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Ranpak Holdings Corp.this co. | PACK | $337M | - | 0.62 | -7.2% | 12.83 |
| Dine Brands Global, Inc. | DIN | $356M | 24.61 | -1.33 | -6.2% | 9.80 |
| Haverty Furniture Companies, Inc. | HVT | $353M | 18.32 | 1.14 | 6.4% | 9.74 |
| Xponential Fitness, Inc. | XPOF | $340M | - | -0.83 | 9.1% | 6.83 |
| Lands' End, Inc. | LE | $338M |
| 61.00 |
| 1.37 |
| 2.3% |
| 6.38 |
| Barnes & Noble Education, Inc. | BNED | $334M | - | 1.15 | -24.2% | 10.34 |
| Weyco Group, Inc. | WEYS | $319M | 13.90 | 1.32 | 9.6% | 7.16 |
| Hyliion Holdings Corp. | HYLN | $319M | - | 1.65 | -29.8% | -3.90 |
| Kingsway Financial Services Inc. | KFS | $319M | - | 21.00 | -31.2% | 132.56 |
| Peer Median | - | 21.47 | 1.23 | -2.0% | 8.45 | |