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Side-by-side financial comparison of AVANOS MEDICAL, INC. (AVNS) and Ranpak Holdings Corp. (PACK). Click either name above to swap in a different company.
AVANOS MEDICAL, INC. is the larger business by last-quarter revenue ($180.9M vs $93.7M, roughly 1.9× Ranpak Holdings Corp.). On growth, Ranpak Holdings Corp. posted the faster year-over-year revenue change (2.3% vs 0.7%). Over the past eight quarters, Ranpak Holdings Corp.'s revenue compounded faster (13.7% CAGR vs 4.4%).
Avanos Medical, Inc. is a medical technology company making clinical medical devices. The company consists of two franchises – Pain Management and Chronic Care – that address reducing the use of opioids while helping patients recover faster and preventing infection.
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...
AVNS vs PACK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $180.9M | $93.7M |
| Net Profit | $-1.3M | — |
| Gross Margin | 47.5% | 39.0% |
| Operating Margin | 1.4% | -1.0% |
| Net Margin | -0.7% | — |
| Revenue YoY | 0.7% | 2.3% |
| Net Profit YoY | 99.7% | — |
| EPS (diluted) | $-0.02 | $-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 | $180.9M | $93.7M | ||
| Q3 25 | $177.8M | $83.6M | ||
| Q2 25 | $175.0M | $77.8M | ||
| Q1 25 | $167.5M | $77.6M | ||
| Q4 24 | $179.6M | $91.6M | ||
| Q3 24 | $170.4M | $78.6M | ||
| Q2 24 | $171.7M | $72.8M | ||
| Q1 24 | $166.1M | $72.5M |
| Q4 25 | $-1.3M | — | ||
| Q3 25 | $-1.4M | $-10.4M | ||
| Q2 25 | $-76.8M | $-7.5M | ||
| Q1 25 | $6.6M | $-10.9M | ||
| Q4 24 | $-397.3M | — | ||
| Q3 24 | $4.3M | $-8.1M | ||
| Q2 24 | $1.8M | $5.5M | ||
| Q1 24 | $-900.0K | $-8.1M |
| Q4 25 | 47.5% | 39.0% | ||
| Q3 25 | 48.4% | 41.1% | ||
| Q2 25 | 52.6% | 37.1% | ||
| Q1 25 | 53.6% | 39.8% | ||
| Q4 24 | 54.6% | 45.2% | ||
| Q3 24 | 54.5% | 43.8% | ||
| Q2 24 | 55.7% | 43.5% | ||
| Q1 24 | 57.1% | 44.6% |
| Q4 25 | 1.4% | -1.0% | ||
| Q3 25 | 0.1% | -6.8% | ||
| Q2 25 | -42.6% | -12.5% | ||
| Q1 25 | 6.1% | -10.3% | ||
| Q4 24 | -233.0% | 1.5% | ||
| Q3 24 | 7.0% | -5.3% | ||
| Q2 24 | 3.7% | -7.1% | ||
| Q1 24 | 2.4% | -6.6% |
| Q4 25 | -0.7% | — | ||
| Q3 25 | -0.8% | -12.4% | ||
| Q2 25 | -43.9% | -9.6% | ||
| Q1 25 | 3.9% | -14.0% | ||
| Q4 24 | -221.2% | — | ||
| Q3 24 | 2.5% | -10.3% | ||
| Q2 24 | 1.0% | 7.6% | ||
| Q1 24 | -0.5% | -11.2% |
| Q4 25 | $-0.02 | $-0.11 | ||
| Q3 25 | $-0.03 | $-0.12 | ||
| Q2 25 | $-1.66 | $-0.09 | ||
| Q1 25 | $0.14 | $-0.13 | ||
| Q4 24 | $-8.64 | $-0.13 | ||
| Q3 24 | $0.09 | $-0.10 | ||
| Q2 24 | $0.04 | $0.07 | ||
| Q1 24 | $-0.02 | $-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 | $89.8M | $63.0M |
| Total DebtLower is stronger | $90.3M | $401.9M |
| Stockholders' EquityBook value | $778.2M | $534.9M |
| Total Assets | $1.1B | $1.1B |
| Debt / EquityLower = less leverage | 0.12× | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $89.8M | $63.0M | ||
| Q3 25 | $70.5M | $49.9M | ||
| Q2 25 | $90.3M | $49.2M | ||
| Q1 25 | $97.0M | $65.5M | ||
| Q4 24 | $107.7M | $76.1M | ||
| Q3 24 | $89.0M | $69.5M | ||
| Q2 24 | $92.2M | $65.1M | ||
| Q1 24 | $75.8M | $55.1M |
| Q4 25 | $90.3M | $401.9M | ||
| Q3 25 | $93.4M | $403.1M | ||
| Q2 25 | $95.7M | $403.1M | ||
| Q1 25 | $98.0M | $405.2M | ||
| Q4 24 | $125.3M | $406.4M | ||
| Q3 24 | $152.6M | $403.2M | ||
| Q2 24 | $164.9M | $396.1M | ||
| Q1 24 | $167.2M | $396.7M |
| Q4 25 | $778.2M | $534.9M | ||
| Q3 25 | $778.0M | $537.8M | ||
| Q2 25 | $776.3M | $539.0M | ||
| Q1 25 | $839.4M | $544.1M | ||
| Q4 24 | $828.5M | $548.1M | ||
| Q3 24 | $1.2B | $564.3M | ||
| Q2 24 | $1.2B | $566.2M | ||
| Q1 24 | $1.2B | $560.0M |
| Q4 25 | $1.1B | $1.1B | ||
| Q3 25 | $1.1B | $1.1B | ||
| Q2 25 | $1.0B | $1.1B | ||
| Q1 25 | $1.1B | $1.1B | ||
| Q4 24 | $1.2B | $1.1B | ||
| Q3 24 | $1.7B | $1.1B | ||
| Q2 24 | $1.7B | $1.1B | ||
| Q1 24 | $1.7B | $1.1B |
| Q4 25 | 0.12× | 0.75× | ||
| Q3 25 | 0.12× | 0.75× | ||
| Q2 25 | 0.12× | 0.75× | ||
| Q1 25 | 0.12× | 0.74× | ||
| Q4 24 | 0.15× | 0.74× | ||
| Q3 24 | 0.12× | 0.71× | ||
| Q2 24 | 0.13× | 0.70× | ||
| Q1 24 | 0.14× | 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 | $28.2M | $19.5M |
| Free Cash FlowOCF − Capex | $21.3M | — |
| FCF MarginFCF / Revenue | 11.8% | — |
| Capex IntensityCapex / Revenue | 3.8% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $43.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.2M | $19.5M | ||
| Q3 25 | $14.0M | $8.5M | ||
| Q2 25 | $6.8M | $-3.6M | ||
| Q1 25 | $25.7M | $-1.3M | ||
| Q4 24 | $57.9M | $6.5M | ||
| Q3 24 | $23.0M | $10.1M | ||
| Q2 24 | $27.8M | $19.6M | ||
| Q1 24 | $-8.0M | $5.2M |
| Q4 25 | $21.3M | — | ||
| Q3 25 | $7.0M | — | ||
| Q2 25 | $-4.2M | — | ||
| Q1 25 | $19.0M | — | ||
| Q4 24 | $53.1M | — | ||
| Q3 24 | $20.0M | — | ||
| Q2 24 | $21.9M | — | ||
| Q1 24 | $-12.1M | — |
| Q4 25 | 11.8% | — | ||
| Q3 25 | 3.9% | — | ||
| Q2 25 | -2.4% | — | ||
| Q1 25 | 11.3% | — | ||
| Q4 24 | 29.6% | — | ||
| Q3 24 | 11.7% | — | ||
| Q2 24 | 12.8% | — | ||
| Q1 24 | -7.3% | — |
| Q4 25 | 3.8% | — | ||
| Q3 25 | 3.9% | — | ||
| Q2 25 | 6.3% | — | ||
| Q1 25 | 4.0% | — | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 1.8% | — | ||
| Q2 24 | 3.4% | — | ||
| Q1 24 | 2.5% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 3.89× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 5.35× | — | ||
| Q2 24 | 15.44× | 3.56× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AVNS
| Enteral Feeding | $83.0M | 46% |
| Radiofrequency Ablation | $36.9M | 20% |
| Neonate Solutions | $32.1M | 18% |
| Surgical Pain And Recovery | $24.7M | 14% |
| Corporate Other | $4.2M | 2% |
PACK
| Other | $47.9M | 51% |
| Europe And Asia Segment | $45.8M | 49% |
