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Side-by-side financial comparison of HORIZON BANCORP INC (HBNC) 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 $63.5M, roughly 1.5× HORIZON BANCORP INC). On growth, HORIZON BANCORP INC posted the faster year-over-year revenue change (19.5% vs 2.3%). Over the past eight quarters, Ranpak Holdings Corp.'s revenue compounded faster (13.7% CAGR vs 9.2%).
First Horizon Corporation, formerly First Tennessee Bank, is a financial services company, founded in 1864, and based in Memphis, Tennessee. Through its banking subsidiary First Horizon Bank, it provides financial services through locations in 12 states across the Southeast, a region in which it is the fourth largest regional bank.
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...
HBNC vs PACK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $63.5M | $93.7M |
| Net Profit | $26.9M | — |
| Gross Margin | — | 39.0% |
| Operating Margin | 51.5% | -1.0% |
| Net Margin | 42.4% | — |
| Revenue YoY | 19.5% | 2.3% |
| Net Profit YoY | 347.4% | — |
| EPS (diluted) | $0.44 | $-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 | $63.5M | $93.7M | ||
| Q3 25 | $58.4M | $83.6M | ||
| Q2 25 | $66.3M | $77.8M | ||
| Q1 25 | $68.8M | $77.6M | ||
| Q4 24 | $53.1M | $91.6M | ||
| Q3 24 | $58.4M | $78.6M | ||
| Q2 24 | $55.8M | $72.8M | ||
| Q1 24 | $53.2M | $72.5M |
| Q4 25 | $26.9M | — | ||
| Q3 25 | $-222.0M | $-10.4M | ||
| Q2 25 | $20.6M | $-7.5M | ||
| Q1 25 | $23.9M | $-10.9M | ||
| Q4 24 | $-10.9M | — | ||
| Q3 24 | $18.2M | $-8.1M | ||
| Q2 24 | $14.1M | $5.5M | ||
| Q1 24 | $14.0M | $-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 | 51.5% | -1.0% | ||
| Q3 25 | -490.4% | -6.8% | ||
| Q2 25 | 36.8% | -12.5% | ||
| Q1 25 | 40.8% | -10.3% | ||
| Q4 24 | -41.3% | 1.5% | ||
| Q3 24 | 31.0% | -5.3% | ||
| Q2 24 | 28.5% | -7.1% | ||
| Q1 24 | 28.8% | -6.6% |
| Q4 25 | 42.4% | — | ||
| Q3 25 | -380.2% | -12.4% | ||
| Q2 25 | 31.1% | -9.6% | ||
| Q1 25 | 34.8% | -14.0% | ||
| Q4 24 | -20.5% | — | ||
| Q3 24 | 31.1% | -10.3% | ||
| Q2 24 | 25.4% | 7.6% | ||
| Q1 24 | 26.3% | -11.2% |
| Q4 25 | $0.44 | $-0.11 | ||
| Q3 25 | $-4.69 | $-0.12 | ||
| Q2 25 | $0.47 | $-0.09 | ||
| Q1 25 | $0.54 | $-0.13 | ||
| Q4 24 | $-0.25 | $-0.13 | ||
| Q3 24 | $0.41 | $-0.10 | ||
| Q2 24 | $0.32 | $0.07 | ||
| Q1 24 | $0.32 | $-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 | $139.5M | $63.0M |
| Total DebtLower is stronger | $248.6M | $401.9M |
| Stockholders' EquityBook value | $688.3M | $534.9M |
| Total Assets | $6.4B | $1.1B |
| Debt / EquityLower = less leverage | 0.36× | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $139.5M | $63.0M | ||
| Q3 25 | $458.3M | $49.9M | ||
| Q2 25 | $137.9M | $49.2M | ||
| Q1 25 | $169.7M | $65.5M | ||
| Q4 24 | $293.4M | $76.1M | ||
| Q3 24 | $234.8M | $69.5M | ||
| Q2 24 | $146.1M | $65.1M | ||
| Q1 24 | — | $55.1M |
| Q4 25 | $248.6M | $401.9M | ||
| Q3 25 | — | $403.1M | ||
| Q2 25 | — | $403.1M | ||
| Q1 25 | — | $405.2M | ||
| Q4 24 | $1.2B | $406.4M | ||
| Q3 24 | — | $403.2M | ||
| Q2 24 | — | $396.1M | ||
| Q1 24 | — | $396.7M |
| Q4 25 | $688.3M | $534.9M | ||
| Q3 25 | $660.8M | $537.8M | ||
| Q2 25 | $790.9M | $539.0M | ||
| Q1 25 | $776.1M | $544.1M | ||
| Q4 24 | $763.6M | $548.1M | ||
| Q3 24 | $754.8M | $564.3M | ||
| Q2 24 | $726.7M | $566.2M | ||
| Q1 24 | $721.3M | $560.0M |
| Q4 25 | $6.4B | $1.1B | ||
| Q3 25 | $6.7B | $1.1B | ||
| Q2 25 | $7.7B | $1.1B | ||
| Q1 25 | $7.6B | $1.1B | ||
| Q4 24 | $7.8B | $1.1B | ||
| Q3 24 | $7.9B | $1.1B | ||
| Q2 24 | $7.9B | $1.1B | ||
| Q1 24 | $7.9B | $1.1B |
| Q4 25 | 0.36× | 0.75× | ||
| Q3 25 | — | 0.75× | ||
| Q2 25 | — | 0.75× | ||
| Q1 25 | — | 0.74× | ||
| Q4 24 | 1.61× | 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 | $79.2M | $19.5M |
| Free Cash FlowOCF − Capex | $74.3M | — |
| FCF MarginFCF / Revenue | 117.0% | — |
| Capex IntensityCapex / Revenue | 7.8% | — |
| Cash ConversionOCF / Net Profit | 2.94× | — |
| TTM Free Cash FlowTrailing 4 quarters | $115.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $79.2M | $19.5M | ||
| Q3 25 | $10.9M | $8.5M | ||
| Q2 25 | $19.5M | $-3.6M | ||
| Q1 25 | $15.2M | $-1.3M | ||
| Q4 24 | $6.4M | $6.5M | ||
| Q3 24 | $32.3M | $10.1M | ||
| Q2 24 | $15.9M | $19.6M | ||
| Q1 24 | $6.5M | $5.2M |
| Q4 25 | $74.3M | — | ||
| Q3 25 | $9.4M | — | ||
| Q2 25 | $18.1M | — | ||
| Q1 25 | $14.1M | — | ||
| Q4 24 | $1.3M | — | ||
| Q3 24 | $31.0M | — | ||
| Q2 24 | $15.1M | — | ||
| Q1 24 | $5.4M | — |
| Q4 25 | 117.0% | — | ||
| Q3 25 | 16.1% | — | ||
| Q2 25 | 27.3% | — | ||
| Q1 25 | 20.5% | — | ||
| Q4 24 | 2.4% | — | ||
| Q3 24 | 53.1% | — | ||
| Q2 24 | 27.1% | — | ||
| Q1 24 | 10.1% | — |
| Q4 25 | 7.8% | — | ||
| Q3 25 | 2.6% | — | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 1.6% | — | ||
| Q4 24 | 9.6% | — | ||
| Q3 24 | 2.2% | — | ||
| Q2 24 | 1.5% | — | ||
| Q1 24 | 2.2% | — |
| Q4 25 | 2.94× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.94× | — | ||
| Q1 25 | 0.64× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.78× | — | ||
| Q2 24 | 1.13× | 3.56× | ||
| Q1 24 | 0.47× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HBNC
Segment breakdown not available.
PACK
| Other | $47.9M | 51% |
| Europe And Asia Segment | $45.8M | 49% |
