vs
Side-by-side financial comparison of Apollo Commercial Real Estate Finance, Inc. (ARI) and Ranpak Holdings Corp. (PACK). Click either name above to swap in a different company.
Ranpak Holdings Corp. is the larger business by last-quarter revenue ($93.7M vs $73.3M, roughly 1.3× Apollo Commercial Real Estate Finance, Inc.). On growth, Apollo Commercial Real Estate Finance, Inc. posted the faster year-over-year revenue change (4.0% vs 2.3%). Over the past eight quarters, Ranpak Holdings Corp.'s revenue compounded faster (13.7% CAGR vs -4.6%).
Apollo Commercial Real Estate Finance, Inc. is a real estate investment trust that originates, acquires and manages commercial real estate debt assets including mortgages, mezzanine loans and mortgage-backed securities, primarily operating in the U.S. market to deliver consistent risk-adjusted returns.
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...
ARI vs PACK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $73.3M | $93.7M |
| Net Profit | $29.2M | — |
| Gross Margin | — | 39.0% |
| Operating Margin | 39.7% | -1.0% |
| Net Margin | 39.9% | — |
| Revenue YoY | 4.0% | 2.3% |
| Net Profit YoY | -28.2% | — |
| EPS (diluted) | $0.19 | $-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.
| Q4 25 | $73.3M | $93.7M | ||
| Q3 25 | $61.6M | $83.6M | ||
| Q2 25 | $70.9M | $77.8M | ||
| Q1 25 | $65.8M | $77.6M | ||
| Q4 24 | $70.5M | $91.6M | ||
| Q3 24 | $71.6M | $78.6M | ||
| Q2 24 | $81.1M | $72.8M | ||
| Q1 24 | $80.5M | $72.5M |
| Q4 25 | $29.2M | — | ||
| Q3 25 | $50.8M | $-10.4M | ||
| Q2 25 | $20.7M | $-7.5M | ||
| Q1 25 | $26.0M | $-10.9M | ||
| Q4 24 | $40.7M | — | ||
| Q3 24 | $-91.5M | $-8.1M | ||
| Q2 24 | $35.8M | $5.5M | ||
| Q1 24 | $-104.5M | $-8.1M |
| Q4 25 | — | 39.0% | ||
| Q3 25 | — | 41.1% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 39.8% | ||
| Q4 24 | — | 45.2% | ||
| Q3 24 | — | 43.8% | ||
| Q2 24 | — | 43.5% | ||
| Q1 24 | — | 44.6% |
| Q4 25 | 39.7% | -1.0% | ||
| Q3 25 | 82.8% | -6.8% | ||
| Q2 25 | 29.4% | -12.5% | ||
| Q1 25 | 39.7% | -10.3% | ||
| Q4 24 | 57.9% | 1.5% | ||
| Q3 24 | -127.8% | -5.3% | ||
| Q2 24 | 44.2% | -7.1% | ||
| Q1 24 | -129.6% | -6.6% |
| Q4 25 | 39.9% | — | ||
| Q3 25 | 82.4% | -12.4% | ||
| Q2 25 | 29.3% | -9.6% | ||
| Q1 25 | 39.5% | -14.0% | ||
| Q4 24 | 57.7% | — | ||
| Q3 24 | -127.9% | -10.3% | ||
| Q2 24 | 44.1% | 7.6% | ||
| Q1 24 | -129.8% | -11.2% |
| Q4 25 | $0.19 | $-0.11 | ||
| Q3 25 | $0.34 | $-0.12 | ||
| Q2 25 | $0.12 | $-0.09 | ||
| Q1 25 | $0.16 | $-0.13 | ||
| Q4 24 | $0.25 | $-0.13 | ||
| Q3 24 | $-0.69 | $-0.10 | ||
| Q2 24 | $0.23 | $0.07 | ||
| Q1 24 | $-0.76 | $-0.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $139.8M | $63.0M |
| Total DebtLower is stronger | — | $401.9M |
| Stockholders' EquityBook value | $1.9B | $534.9M |
| Total Assets | $9.9B | $1.1B |
| Debt / EquityLower = less leverage | — | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $139.8M | $63.0M | ||
| Q3 25 | $245.9M | $49.9M | ||
| Q2 25 | $177.6M | $49.2M | ||
| Q1 25 | $166.4M | $65.5M | ||
| Q4 24 | $317.4M | $76.1M | ||
| Q3 24 | $194.3M | $69.5M | ||
| Q2 24 | $174.7M | $65.1M | ||
| Q1 24 | $161.2M | $55.1M |
| Q4 25 | — | $401.9M | ||
| Q3 25 | — | $403.1M | ||
| Q2 25 | — | $403.1M | ||
| Q1 25 | — | $405.2M | ||
| Q4 24 | — | $406.4M | ||
| Q3 24 | — | $403.2M | ||
| Q2 24 | — | $396.1M | ||
| Q1 24 | — | $396.7M |
| Q4 25 | $1.9B | $534.9M | ||
| Q3 25 | $1.9B | $537.8M | ||
| Q2 25 | $1.8B | $539.0M | ||
| Q1 25 | $1.9B | $544.1M | ||
| Q4 24 | $1.9B | $548.1M | ||
| Q3 24 | $1.9B | $564.3M | ||
| Q2 24 | $2.0B | $566.2M | ||
| Q1 24 | $2.0B | $560.0M |
| Q4 25 | $9.9B | $1.1B | ||
| Q3 25 | $9.5B | $1.1B | ||
| Q2 25 | $9.8B | $1.1B | ||
| Q1 25 | $8.8B | $1.1B | ||
| Q4 24 | $8.4B | $1.1B | ||
| Q3 24 | $9.1B | $1.1B | ||
| Q2 24 | $9.3B | $1.1B | ||
| Q1 24 | $9.2B | $1.1B |
| Q4 25 | — | 0.75× | ||
| Q3 25 | — | 0.75× | ||
| Q2 25 | — | 0.75× | ||
| Q1 25 | — | 0.74× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.71× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | — | 0.71× |
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 | $142.5M | $19.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 4.88× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $142.5M | $19.5M | ||
| Q3 25 | $31.7M | $8.5M | ||
| Q2 25 | $63.2M | $-3.6M | ||
| Q1 25 | $39.3M | $-1.3M | ||
| Q4 24 | $200.3M | $6.5M | ||
| Q3 24 | $47.2M | $10.1M | ||
| Q2 24 | $50.2M | $19.6M | ||
| Q1 24 | $52.8M | $5.2M |
| Q4 25 | 4.88× | — | ||
| Q3 25 | 0.62× | — | ||
| Q2 25 | 3.05× | — | ||
| Q1 25 | 1.51× | — | ||
| Q4 24 | 4.93× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.40× | 3.56× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARI
Segment breakdown not available.
PACK
| Other | $47.9M | 51% |
| Europe And Asia Segment | $45.8M | 49% |
