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Side-by-side financial comparison of Immunocore Holdings plc (IMCR) and Ranpak Holdings Corp. (PACK). Click either name above to swap in a different company.
Immunocore Holdings plc is the larger business by last-quarter revenue ($104.5M vs $93.7M, roughly 1.1× Ranpak Holdings Corp.). On growth, Immunocore Holdings plc posted the faster year-over-year revenue change (24.3% vs 2.3%). Over the past eight quarters, Immunocore Holdings plc's revenue compounded faster (21.7% CAGR vs 13.7%).
Immunocore is a global commercial-stage biotechnology company, based in Oxfordshire, which researches and develops biological drugs using soluble T-cell receptor technology.
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...
IMCR vs PACK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $104.5M | $93.7M |
| Net Profit | — | — |
| Gross Margin | 97.4% | 39.0% |
| Operating Margin | -18.8% | -1.0% |
| Net Margin | — | — |
| Revenue YoY | 24.3% | 2.3% |
| Net Profit YoY | — | — |
| EPS (diluted) | $-0.61 | $-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 | $104.5M | $93.7M | ||
| Q3 25 | $103.7M | $83.6M | ||
| Q2 25 | $98.0M | $77.8M | ||
| Q1 25 | $93.9M | $77.6M | ||
| Q4 24 | $84.1M | $91.6M | ||
| Q3 24 | $80.2M | $78.6M | ||
| Q2 24 | $75.4M | $72.8M | ||
| Q1 24 | $70.5M | $72.5M |
| Q4 25 | — | — | ||
| Q3 25 | $-177.0K | $-10.4M | ||
| Q2 25 | $-10.3M | $-7.5M | ||
| Q1 25 | $5.0M | $-10.9M | ||
| Q4 24 | — | — | ||
| Q3 24 | $8.7M | $-8.1M | ||
| Q2 24 | $-11.6M | $5.5M | ||
| Q1 24 | $-24.4M | $-8.1M |
| Q4 25 | 97.4% | 39.0% | ||
| Q3 25 | 99.5% | 41.1% | ||
| Q2 25 | 98.9% | 37.1% | ||
| Q1 25 | 99.1% | 39.8% | ||
| Q4 24 | 99.6% | 45.2% | ||
| Q3 24 | 99.4% | 43.8% | ||
| Q2 24 | 97.7% | 43.5% | ||
| Q1 24 | 99.7% | 44.6% |
| Q4 25 | -18.8% | -1.0% | ||
| Q3 25 | -6.9% | -6.8% | ||
| Q2 25 | -15.2% | -12.5% | ||
| Q1 25 | -3.9% | -10.3% | ||
| Q4 24 | -23.1% | 1.5% | ||
| Q3 24 | -10.6% | -5.3% | ||
| Q2 24 | -21.2% | -7.1% | ||
| Q1 24 | -37.6% | -6.6% |
| Q4 25 | — | — | ||
| Q3 25 | -0.2% | -12.4% | ||
| Q2 25 | -10.5% | -9.6% | ||
| Q1 25 | 5.4% | -14.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | 10.9% | -10.3% | ||
| Q2 24 | -15.4% | 7.6% | ||
| Q1 24 | -34.7% | -11.2% |
| Q4 25 | $-0.61 | $-0.11 | ||
| Q3 25 | $0.00 | $-0.12 | ||
| Q2 25 | $-0.20 | $-0.09 | ||
| Q1 25 | $0.10 | $-0.13 | ||
| Q4 24 | $-0.47 | $-0.13 | ||
| Q3 24 | $0.17 | $-0.10 | ||
| Q2 24 | $-0.23 | $0.07 | ||
| Q1 24 | $-0.49 | $-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 | $864.2M | $63.0M |
| Total DebtLower is stronger | — | $401.9M |
| Stockholders' EquityBook value | $381.0M | $534.9M |
| Total Assets | $1.1B | $1.1B |
| Debt / EquityLower = less leverage | — | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $864.2M | $63.0M | ||
| Q3 25 | $892.4M | $49.9M | ||
| Q2 25 | $882.8M | $49.2M | ||
| Q1 25 | $837.0M | $65.5M | ||
| Q4 24 | $820.4M | $76.1M | ||
| Q3 24 | $901.3M | $69.5M | ||
| Q2 24 | $859.6M | $65.1M | ||
| Q1 24 | $832.8M | $55.1M |
| Q4 25 | — | $401.9M | ||
| Q3 25 | — | $403.1M | ||
| Q2 25 | — | $403.1M | ||
| Q1 25 | — | $405.2M | ||
| Q4 24 | — | $406.4M | ||
| Q3 24 | $438.7M | $403.2M | ||
| Q2 24 | $452.5M | $396.1M | ||
| Q1 24 | $452.5M | $396.7M |
| Q4 25 | $381.0M | $534.9M | ||
| Q3 25 | $396.6M | $537.8M | ||
| Q2 25 | $388.5M | $539.0M | ||
| Q1 25 | $378.5M | $544.1M | ||
| Q4 24 | $360.7M | $548.1M | ||
| Q3 24 | $377.8M | $564.3M | ||
| Q2 24 | $359.1M | $566.2M | ||
| Q1 24 | $359.5M | $560.0M |
| Q4 25 | $1.1B | $1.1B | ||
| Q3 25 | $1.1B | $1.1B | ||
| Q2 25 | $1.1B | $1.1B | ||
| Q1 25 | $1.0B | $1.1B | ||
| Q4 24 | $1.0B | $1.1B | ||
| Q3 24 | $1.1B | $1.1B | ||
| Q2 24 | $1.0B | $1.1B | ||
| Q1 24 | $994.0M | $1.1B |
| Q4 25 | — | 0.75× | ||
| Q3 25 | — | 0.75× | ||
| Q2 25 | — | 0.75× | ||
| Q1 25 | — | 0.74× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | 1.16× | 0.71× | ||
| Q2 24 | 1.26× | 0.70× | ||
| Q1 24 | 1.26× | 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 | $-32.7M | $19.5M |
| Free Cash FlowOCF − Capex | $-35.5M | — |
| FCF MarginFCF / Revenue | -34.0% | — |
| Capex IntensityCapex / Revenue | 2.8% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-15.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-32.7M | $19.5M | ||
| Q3 25 | $-4.5M | $8.5M | ||
| Q2 25 | $26.0M | $-3.6M | ||
| Q1 25 | $435.0K | $-1.3M | ||
| Q4 24 | $-14.0M | $6.5M | ||
| Q3 24 | $21.1M | $10.1M | ||
| Q2 24 | $23.5M | $19.6M | ||
| Q1 24 | $-4.6M | $5.2M |
| Q4 25 | $-35.5M | — | ||
| Q3 25 | $-5.2M | — | ||
| Q2 25 | $25.6M | — | ||
| Q1 25 | $137.0K | — | ||
| Q4 24 | $-17.5M | — | ||
| Q3 24 | $20.3M | — | ||
| Q2 24 | $23.1M | — | ||
| Q1 24 | $-5.0M | — |
| Q4 25 | -34.0% | — | ||
| Q3 25 | -5.0% | — | ||
| Q2 25 | 26.1% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | -20.9% | — | ||
| Q3 24 | 25.3% | — | ||
| Q2 24 | 30.7% | — | ||
| Q1 24 | -7.1% | — |
| Q4 25 | 2.8% | — | ||
| Q3 25 | 0.7% | — | ||
| Q2 25 | 0.4% | — | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | 4.3% | — | ||
| Q3 24 | 1.0% | — | ||
| Q2 24 | 0.4% | — | ||
| Q1 24 | 0.6% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.09× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.42× | — | ||
| Q2 24 | — | 3.56× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IMCR
Segment breakdown not available.
PACK
| Other | $47.9M | 51% |
| Europe And Asia Segment | $45.8M | 49% |
