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Side-by-side financial comparison of American Assets Trust, Inc. (AAT) and Ranpak Holdings Corp. (PACK). Click either name above to swap in a different company.
American Assets Trust, Inc. is the larger business by last-quarter revenue ($110.6M vs $93.7M, roughly 1.2× Ranpak Holdings Corp.). On growth, Ranpak Holdings Corp. posted the faster year-over-year revenue change (2.3% vs 1.8%). Over the past eight quarters, Ranpak Holdings Corp.'s revenue compounded faster (13.7% CAGR vs -0.1%).
Personal Assets Trust is a large British investment trust. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The chairman is Iain Ferguson CBE.
Ranpak Holdings Corp. manufactures machines and paper products used in protective paper-based packing for shipping goods and merchandise for e-commerce and industry, along with automation solutions. The company is based in Concord, Ohio, and has production facilities and offices in Reno, Nevada; Kansas City, Missouri; the Netherlands; Czech Republic; Shanghai and Singapore. The paper packaging material can be used for multiple applications like wrapping, cushioning, void fill and cold chain p...
AAT vs PACK — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $110.6M | $93.7M |
| Net Profit | $6.7M | — |
| Gross Margin | — | 39.0% |
| Operating Margin | 23.4% | -1.0% |
| Net Margin | 6.1% | — |
| Revenue YoY | 1.8% | 2.3% |
| Net Profit YoY | -16.3% | — |
| EPS (diluted) | $0.08 | $-0.11 |
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.
| Q1 26 | $110.6M | — | ||
| Q4 25 | $110.1M | $93.7M | ||
| Q3 25 | $109.6M | $83.6M | ||
| Q2 25 | $107.9M | $77.8M | ||
| Q1 25 | $108.6M | $77.6M | ||
| Q4 24 | $113.5M | $91.6M | ||
| Q3 24 | $122.8M | $78.6M | ||
| Q2 24 | $110.9M | $72.8M |
| Q1 26 | $6.7M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $4.5M | $-10.4M | ||
| Q2 25 | $5.5M | $-7.5M | ||
| Q1 25 | $42.5M | $-10.9M | ||
| Q4 24 | — | — | ||
| Q3 24 | $16.7M | $-8.1M | ||
| Q2 24 | $11.9M | $5.5M |
| Q1 26 | — | — | ||
| Q4 25 | 59.4% | 39.0% | ||
| Q3 25 | 60.5% | 41.1% | ||
| Q2 25 | 62.6% | 37.1% | ||
| Q1 25 | 62.0% | 39.8% | ||
| Q4 24 | 61.3% | 45.2% | ||
| Q3 24 | 65.5% | 43.8% | ||
| Q2 24 | 63.6% | 43.5% |
| Q1 26 | 23.4% | — | ||
| Q4 25 | 21.1% | -1.0% | ||
| Q3 25 | 22.6% | -6.8% | ||
| Q2 25 | 24.1% | -12.5% | ||
| Q1 25 | 66.3% | -10.3% | ||
| Q4 24 | 26.5% | 1.5% | ||
| Q3 24 | 30.8% | -5.3% | ||
| Q2 24 | 27.8% | -7.1% |
| Q1 26 | 6.1% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 4.1% | -12.4% | ||
| Q2 25 | 5.1% | -9.6% | ||
| Q1 25 | 39.2% | -14.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | 13.6% | -10.3% | ||
| Q2 24 | 10.7% | 7.6% |
| Q1 26 | $0.08 | — | ||
| Q4 25 | $0.06 | $-0.11 | ||
| Q3 25 | $0.07 | $-0.12 | ||
| Q2 25 | $0.09 | $-0.09 | ||
| Q1 25 | $0.70 | $-0.13 | ||
| Q4 24 | $0.14 | $-0.13 | ||
| Q3 24 | $0.28 | $-0.10 | ||
| Q2 24 | $0.20 | $0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $118.3M | $63.0M |
| Total DebtLower is stronger | — | $401.9M |
| Stockholders' EquityBook value | $1.1B | $534.9M |
| Total Assets | $2.9B | $1.1B |
| Debt / EquityLower = less leverage | — | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $118.3M | — | ||
| Q4 25 | $129.4M | $63.0M | ||
| Q3 25 | $138.7M | $49.9M | ||
| Q2 25 | $143.7M | $49.2M | ||
| Q1 25 | $143.9M | $65.5M | ||
| Q4 24 | $425.7M | $76.1M | ||
| Q3 24 | $533.0M | $69.5M | ||
| Q2 24 | $114.9M | $65.1M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $401.9M | ||
| Q3 25 | — | $403.1M | ||
| Q2 25 | — | $403.1M | ||
| Q1 25 | — | $405.2M | ||
| Q4 24 | $2.0B | $406.4M | ||
| Q3 24 | — | $403.2M | ||
| Q2 24 | — | $396.1M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.2B | $534.9M | ||
| Q3 25 | $1.2B | $537.8M | ||
| Q2 25 | $1.2B | $539.0M | ||
| Q1 25 | $1.2B | $544.1M | ||
| Q4 24 | $1.2B | $548.1M | ||
| Q3 24 | $1.2B | $564.3M | ||
| Q2 24 | $1.2B | $566.2M |
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $1.1B | ||
| Q3 25 | $2.9B | $1.1B | ||
| Q2 25 | $3.0B | $1.1B | ||
| Q1 25 | $3.0B | $1.1B | ||
| Q4 24 | $3.3B | $1.1B | ||
| Q3 24 | $3.4B | $1.1B | ||
| Q2 24 | $3.0B | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | 1.48× | 0.75× | ||
| Q3 25 | — | 0.75× | ||
| Q2 25 | — | 0.75× | ||
| Q1 25 | — | 0.74× | ||
| Q4 24 | 1.72× | 0.74× | ||
| Q3 24 | — | 0.71× | ||
| Q2 24 | — | 0.70× |
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 | — | $19.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 14.5% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $167.1M | $19.5M | ||
| Q3 25 | $40.5M | $8.5M | ||
| Q2 25 | $49.2M | $-3.6M | ||
| Q1 25 | $36.9M | $-1.3M | ||
| Q4 24 | $207.1M | $6.5M | ||
| Q3 24 | $52.4M | $10.1M | ||
| Q2 24 | $59.3M | $19.6M |
| Q1 26 | — | — | ||
| Q4 25 | $94.9M | — | ||
| Q3 25 | $23.1M | — | ||
| Q2 25 | $28.4M | — | ||
| Q1 25 | $20.4M | — | ||
| Q4 24 | $136.9M | — | ||
| Q3 24 | $28.0M | — | ||
| Q2 24 | $43.6M | — |
| Q1 26 | — | — | ||
| Q4 25 | 86.2% | — | ||
| Q3 25 | 21.1% | — | ||
| Q2 25 | 26.3% | — | ||
| Q1 25 | 18.8% | — | ||
| Q4 24 | 120.7% | — | ||
| Q3 24 | 22.8% | — | ||
| Q2 24 | 39.3% | — |
| Q1 26 | 14.5% | — | ||
| Q4 25 | 65.6% | — | ||
| Q3 25 | 15.9% | — | ||
| Q2 25 | 19.3% | — | ||
| Q1 25 | 15.1% | — | ||
| Q4 24 | 61.9% | — | ||
| Q3 24 | 19.9% | — | ||
| Q2 24 | 14.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 8.98× | — | ||
| Q2 25 | 9.01× | — | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.15× | — | ||
| Q2 24 | 4.98× | 3.56× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AAT
| Rental income | $104.4M | 94% |
| Other | $6.2M | 6% |
PACK
| Other | $47.9M | 51% |
| Europe And Asia Segment | $45.8M | 49% |
