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Side-by-side financial comparison of Cipher Mining Inc. (CIFR) 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 $59.7M, roughly 1.6× Cipher Mining Inc.). On growth, Cipher Mining Inc. posted the faster year-over-year revenue change (41.4% vs 2.3%). Over the past eight quarters, Ranpak Holdings Corp.'s revenue compounded faster (13.7% CAGR vs 11.4%).
Cipher Mining, Inc. operates as a Bitcoin mining ecosystem in the United States. The firm is developing a cryptocurrency business.
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...
CIFR vs PACK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $59.7M | $93.7M |
| Net Profit | $-734.2M | — |
| Gross Margin | 59.4% | 39.0% |
| Operating Margin | -503.4% | -1.0% |
| Net Margin | -1229.6% | — |
| Revenue YoY | 41.4% | 2.3% |
| Net Profit YoY | -4293.1% | — |
| EPS (diluted) | $-1.91 | $-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 | $59.7M | $93.7M | ||
| Q3 25 | $71.7M | $83.6M | ||
| Q2 25 | $43.6M | $77.8M | ||
| Q1 25 | $49.0M | $77.6M | ||
| Q4 24 | $42.2M | $91.6M | ||
| Q3 24 | $24.1M | $78.6M | ||
| Q2 24 | $36.8M | $72.8M | ||
| Q1 24 | $48.1M | $72.5M |
| Q4 25 | $-734.2M | — | ||
| Q3 25 | $-3.3M | $-10.4M | ||
| Q2 25 | $-45.8M | $-7.5M | ||
| Q1 25 | $-39.0M | $-10.9M | ||
| Q4 24 | $17.5M | — | ||
| Q3 24 | $-86.8M | $-8.1M | ||
| Q2 24 | $-15.3M | $5.5M | ||
| Q1 24 | $39.9M | $-8.1M |
| Q4 25 | 59.4% | 39.0% | ||
| Q3 25 | 62.7% | 41.1% | ||
| Q2 25 | 64.8% | 37.1% | ||
| Q1 25 | 69.6% | 39.8% | ||
| Q4 24 | 56.9% | 45.2% | ||
| Q3 24 | 37.5% | 43.8% | ||
| Q2 24 | 61.2% | 43.5% | ||
| Q1 24 | 69.2% | 44.6% |
| Q4 25 | -503.4% | -1.0% | ||
| Q3 25 | -52.5% | -6.8% | ||
| Q2 25 | -103.9% | -12.5% | ||
| Q1 25 | -77.8% | -10.3% | ||
| Q4 24 | 40.5% | 1.5% | ||
| Q3 24 | -379.2% | -5.3% | ||
| Q2 24 | -43.9% | -7.1% | ||
| Q1 24 | 97.2% | -6.6% |
| Q4 25 | -1229.6% | — | ||
| Q3 25 | -4.6% | -12.4% | ||
| Q2 25 | -105.1% | -9.6% | ||
| Q1 25 | -79.6% | -14.0% | ||
| Q4 24 | 41.5% | — | ||
| Q3 24 | -359.9% | -10.3% | ||
| Q2 24 | -41.5% | 7.6% | ||
| Q1 24 | 82.9% | -11.2% |
| Q4 25 | $-1.91 | $-0.11 | ||
| Q3 25 | $-0.01 | $-0.12 | ||
| Q2 25 | $-0.12 | $-0.09 | ||
| Q1 25 | $-0.11 | $-0.13 | ||
| Q4 24 | $0.04 | $-0.13 | ||
| Q3 24 | $-0.26 | $-0.10 | ||
| Q2 24 | $-0.05 | $0.07 | ||
| Q1 24 | $0.13 | $-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 | $628.3M | $63.0M |
| Total DebtLower is stronger | $2.7B | $401.9M |
| Stockholders' EquityBook value | $805.5M | $534.9M |
| Total Assets | $4.3B | $1.1B |
| Debt / EquityLower = less leverage | 3.37× | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $628.3M | $63.0M | ||
| Q3 25 | $1.2B | $49.9M | ||
| Q2 25 | $62.7M | $49.2M | ||
| Q1 25 | $23.2M | $65.5M | ||
| Q4 24 | $5.6M | $76.1M | ||
| Q3 24 | $25.3M | $69.5M | ||
| Q2 24 | $122.6M | $65.1M | ||
| Q1 24 | $88.7M | $55.1M |
| Q4 25 | $2.7B | $401.9M | ||
| Q3 25 | $1.0B | $403.1M | ||
| Q2 25 | $167.1M | $403.1M | ||
| Q1 25 | — | $405.2M | ||
| Q4 24 | $0 | $406.4M | ||
| Q3 24 | — | $403.2M | ||
| Q2 24 | — | $396.1M | ||
| Q1 24 | — | $396.7M |
| Q4 25 | $805.5M | $534.9M | ||
| Q3 25 | $783.2M | $537.8M | ||
| Q2 25 | $748.9M | $539.0M | ||
| Q1 25 | $734.8M | $544.1M | ||
| Q4 24 | $682.0M | $548.1M | ||
| Q3 24 | $672.0M | $564.3M | ||
| Q2 24 | $690.8M | $566.2M | ||
| Q1 24 | $600.9M | $560.0M |
| Q4 25 | $4.3B | $1.1B | ||
| Q3 25 | $2.8B | $1.1B | ||
| Q2 25 | $1.0B | $1.1B | ||
| Q1 25 | $913.8M | $1.1B | ||
| Q4 24 | $855.4M | $1.1B | ||
| Q3 24 | $775.4M | $1.1B | ||
| Q2 24 | $775.6M | $1.1B | ||
| Q1 24 | $677.1M | $1.1B |
| Q4 25 | 3.37× | 0.75× | ||
| Q3 25 | 1.31× | 0.75× | ||
| Q2 25 | 0.22× | 0.75× | ||
| Q1 25 | — | 0.74× | ||
| Q4 24 | 0.00× | 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 | $-207.9M | $19.5M |
| Free Cash FlowOCF − Capex | $-695.9M | — |
| FCF MarginFCF / Revenue | -1165.4% | — |
| Capex IntensityCapex / Revenue | 817.1% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.1B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-207.9M | $19.5M | ||
| Q3 25 | $-50.1M | $8.5M | ||
| Q2 25 | $-56.2M | $-3.6M | ||
| Q1 25 | $-47.2M | $-1.3M | ||
| Q4 24 | $-87.5M | $6.5M | ||
| Q3 24 | $-6.5M | $10.1M | ||
| Q2 24 | $-25.4M | $19.6M | ||
| Q1 24 | $-26.6M | $5.2M |
| Q4 25 | $-695.9M | — | ||
| Q3 25 | $-256.2M | — | ||
| Q2 25 | $-87.5M | — | ||
| Q1 25 | $-71.8M | — | ||
| Q4 24 | $-227.0M | — | ||
| Q3 24 | $-83.2M | — | ||
| Q2 24 | $-33.2M | — | ||
| Q1 24 | $-34.5M | — |
| Q4 25 | -1165.4% | — | ||
| Q3 25 | -357.3% | — | ||
| Q2 25 | -200.9% | — | ||
| Q1 25 | -146.7% | — | ||
| Q4 24 | -537.6% | — | ||
| Q3 24 | -345.0% | — | ||
| Q2 24 | -90.2% | — | ||
| Q1 24 | -71.7% | — |
| Q4 25 | 817.1% | — | ||
| Q3 25 | 287.5% | — | ||
| Q2 25 | 71.8% | — | ||
| Q1 25 | 50.2% | — | ||
| Q4 24 | 330.4% | — | ||
| Q3 24 | 317.8% | — | ||
| Q2 24 | 21.4% | — | ||
| Q1 24 | 16.4% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -5.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.56× | ||
| Q1 24 | -0.67× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CIFR
Segment breakdown not available.
PACK
| Other | $47.9M | 51% |
| Europe And Asia Segment | $45.8M | 49% |
