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Side-by-side financial comparison of FLYEXCLUSIVE INC. (FLYX) 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 $92.1M, roughly 1.0× FLYEXCLUSIVE INC.). On growth, FLYEXCLUSIVE INC. posted the faster year-over-year revenue change (19.8% vs 2.3%). Over the past eight quarters, FLYEXCLUSIVE INC.'s revenue compounded faster (21.9% CAGR vs 13.7%).
FLYEXCLUSIVE INC. is a U.S.-headquartered private aviation services provider that offers private jet charter, aircraft management, maintenance repair, and fractional ownership programs. It primarily serves high-net-worth individuals, corporate clients, and government entities across North America, delivering personalized on-demand air travel solutions prioritizing safety and convenience.
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...
FLYX vs PACK — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $92.1M | $93.7M |
| Net Profit | $-4.3M | — |
| Gross Margin | 13.7% | 39.0% |
| Operating Margin | -12.3% | -1.0% |
| Net Margin | -4.6% | — |
| Revenue YoY | 19.8% | 2.3% |
| Net Profit YoY | 32.0% | — |
| EPS (diluted) | $-0.25 | $-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 | — | $93.7M | ||
| Q3 25 | $92.1M | $83.6M | ||
| Q2 25 | $91.3M | $77.8M | ||
| Q1 25 | $88.1M | $77.6M | ||
| Q4 24 | — | $91.6M | ||
| Q3 24 | $76.9M | $78.6M | ||
| Q2 24 | $79.0M | $72.8M | ||
| Q1 24 | $80.0M | $72.5M |
| Q4 25 | — | — | ||
| Q3 25 | $-4.3M | $-10.4M | ||
| Q2 25 | $-4.8M | $-7.5M | ||
| Q1 25 | $-5.4M | $-10.9M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-6.3M | $-8.1M | ||
| Q2 24 | $-5.2M | $5.5M | ||
| Q1 24 | $-5.8M | $-8.1M |
| Q4 25 | — | 39.0% | ||
| Q3 25 | 13.7% | 41.1% | ||
| Q2 25 | 15.0% | 37.1% | ||
| Q1 25 | 12.8% | 39.8% | ||
| Q4 24 | — | 45.2% | ||
| Q3 24 | 11.3% | 43.8% | ||
| Q2 24 | 7.9% | 43.5% | ||
| Q1 24 | 7.2% | 44.6% |
| Q4 25 | — | -1.0% | ||
| Q3 25 | -12.3% | -6.8% | ||
| Q2 25 | -13.5% | -12.5% | ||
| Q1 25 | -16.7% | -10.3% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | -27.2% | -5.3% | ||
| Q2 24 | -27.6% | -7.1% | ||
| Q1 24 | -34.3% | -6.6% |
| Q4 25 | — | — | ||
| Q3 25 | -4.6% | -12.4% | ||
| Q2 25 | -5.2% | -9.6% | ||
| Q1 25 | -6.2% | -14.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | -8.2% | -10.3% | ||
| Q2 24 | -6.5% | 7.6% | ||
| Q1 24 | -7.3% | -11.2% |
| Q4 25 | — | $-0.11 | ||
| Q3 25 | $-0.25 | $-0.12 | ||
| Q2 25 | $-0.26 | $-0.09 | ||
| Q1 25 | $-0.30 | $-0.13 | ||
| Q4 24 | — | $-0.13 | ||
| Q3 24 | $-0.32 | $-0.10 | ||
| Q2 24 | $-0.32 | $0.07 | ||
| Q1 24 | $-0.35 | $-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 | $18.7M | $63.0M |
| Total DebtLower is stronger | $123.9M | $401.9M |
| Stockholders' EquityBook value | $-434.2M | $534.9M |
| Total Assets | $448.1M | $1.1B |
| Debt / EquityLower = less leverage | — | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $63.0M | ||
| Q3 25 | $18.7M | $49.9M | ||
| Q2 25 | $15.8M | $49.2M | ||
| Q1 25 | $14.7M | $65.5M | ||
| Q4 24 | — | $76.1M | ||
| Q3 24 | $18.7M | $69.5M | ||
| Q2 24 | $9.3M | $65.1M | ||
| Q1 24 | $5.3M | $55.1M |
| Q4 25 | — | $401.9M | ||
| Q3 25 | $123.9M | $403.1M | ||
| Q2 25 | $111.6M | $403.1M | ||
| Q1 25 | $121.6M | $405.2M | ||
| Q4 24 | — | $406.4M | ||
| Q3 24 | $197.9M | $403.2M | ||
| Q2 24 | $206.3M | $396.1M | ||
| Q1 24 | $209.4M | $396.7M |
| Q4 25 | — | $534.9M | ||
| Q3 25 | $-434.2M | $537.8M | ||
| Q2 25 | $-261.4M | $539.0M | ||
| Q1 25 | $-281.5M | $544.1M | ||
| Q4 24 | — | $548.1M | ||
| Q3 24 | $-192.0M | $564.3M | ||
| Q2 24 | $-149.7M | $566.2M | ||
| Q1 24 | $-149.5M | $560.0M |
| Q4 25 | — | $1.1B | ||
| Q3 25 | $448.1M | $1.1B | ||
| Q2 25 | $443.4M | $1.1B | ||
| Q1 25 | $466.8M | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $487.1M | $1.1B | ||
| Q2 24 | $494.7M | $1.1B | ||
| Q1 24 | $524.1M | $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 | $-209.0K | $19.5M |
| Free Cash FlowOCF − Capex | $-11.0M | — |
| FCF MarginFCF / Revenue | -12.0% | — |
| Capex IntensityCapex / Revenue | 11.7% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-51.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $19.5M | ||
| Q3 25 | $-209.0K | $8.5M | ||
| Q2 25 | $363.0K | $-3.6M | ||
| Q1 25 | $-10.5M | $-1.3M | ||
| Q4 24 | — | $6.5M | ||
| Q3 24 | $-12.3M | $10.1M | ||
| Q2 24 | $-16.2M | $19.6M | ||
| Q1 24 | $-26.0M | $5.2M |
| Q4 25 | — | — | ||
| Q3 25 | $-11.0M | — | ||
| Q2 25 | $353.0K | — | ||
| Q1 25 | $-14.6M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-25.7M | — | ||
| Q2 24 | $-26.6M | — | ||
| Q1 24 | $-64.5M | — |
| Q4 25 | — | — | ||
| Q3 25 | -12.0% | — | ||
| Q2 25 | 0.4% | — | ||
| Q1 25 | -16.5% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -33.5% | — | ||
| Q2 24 | -33.7% | — | ||
| Q1 24 | -80.6% | — |
| Q4 25 | — | — | ||
| Q3 25 | 11.7% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 4.7% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 17.5% | — | ||
| Q2 24 | 13.2% | — | ||
| Q1 24 | 48.2% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.56× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FLYX
Segment breakdown not available.
PACK
| Other | $47.9M | 51% |
| Europe And Asia Segment | $45.8M | 49% |
