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Side-by-side financial comparison of IT TECH PACKAGING, INC. (ITP) 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 $25.6M, roughly 3.7× IT TECH PACKAGING, INC.). On growth, Ranpak Holdings Corp. posted the faster year-over-year revenue change (2.3% vs 2.1%). Over the past eight quarters, Ranpak Holdings Corp.'s revenue compounded faster (13.7% CAGR vs 10.5%).
IT TECH PACKAGING, INC. is a paper manufacturing enterprise primarily operating in China. It produces and distributes a diverse portfolio of paper products including corrugated packaging paper, boxboard, and printing-use cultural paper, serving sectors such as consumer goods packaging, logistics, and commercial printing across its core market.
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...
ITP vs PACK — Head-to-Head
Income Statement — Q3 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $25.6M | $93.7M |
| Net Profit | $-1.4M | — |
| Gross Margin | 7.9% | 39.0% |
| Operating Margin | -3.9% | -1.0% |
| Net Margin | -5.7% | — |
| Revenue YoY | 2.1% | 2.3% |
| Net Profit YoY | 26.6% | — |
| EPS (diluted) | $-0.11 | $-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 | $25.6M | $83.6M | ||
| Q2 25 | $24.8M | $77.8M | ||
| Q1 25 | $10.9M | $77.6M | ||
| Q4 24 | $17.6M | $91.6M | ||
| Q3 24 | $25.1M | $78.6M | ||
| Q2 24 | $26.2M | $72.8M | ||
| Q1 24 | $6.9M | $72.5M |
| Q4 25 | — | — | ||
| Q3 25 | $-1.4M | $-10.4M | ||
| Q2 25 | $-2.0M | $-7.5M | ||
| Q1 25 | $-3.5M | $-10.9M | ||
| Q4 24 | $-4.0M | — | ||
| Q3 24 | $-2.0M | $-8.1M | ||
| Q2 24 | $-77.7K | $5.5M | ||
| Q1 24 | $-3.7M | $-8.1M |
| Q4 25 | — | 39.0% | ||
| Q3 25 | 7.9% | 41.1% | ||
| Q2 25 | 5.1% | 37.1% | ||
| Q1 25 | 0.8% | 39.8% | ||
| Q4 24 | 6.3% | 45.2% | ||
| Q3 24 | 7.6% | 43.8% | ||
| Q2 24 | 12.4% | 43.5% | ||
| Q1 24 | 5.8% | 44.6% |
| Q4 25 | — | -1.0% | ||
| Q3 25 | -3.9% | -6.8% | ||
| Q2 25 | -7.1% | -12.5% | ||
| Q1 25 | -31.0% | -10.3% | ||
| Q4 24 | -21.5% | 1.5% | ||
| Q3 24 | -5.8% | -5.3% | ||
| Q2 24 | 2.1% | -7.1% | ||
| Q1 24 | -51.0% | -6.6% |
| Q4 25 | — | — | ||
| Q3 25 | -5.7% | -12.4% | ||
| Q2 25 | -7.9% | -9.6% | ||
| Q1 25 | -32.2% | -14.0% | ||
| Q4 24 | -22.9% | — | ||
| Q3 24 | -7.9% | -10.3% | ||
| Q2 24 | -0.3% | 7.6% | ||
| Q1 24 | -54.6% | -11.2% |
| Q4 25 | — | $-0.11 | ||
| Q3 25 | $-0.11 | $-0.12 | ||
| Q2 25 | $-0.16 | $-0.09 | ||
| Q1 25 | $-0.35 | $-0.13 | ||
| Q4 24 | $-0.40 | $-0.13 | ||
| Q3 24 | $-0.20 | $-0.10 | ||
| Q2 24 | $-0.01 | $0.07 | ||
| Q1 24 | $-0.37 | $-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 | — | $63.0M |
| Total DebtLower is stronger | $4.7M | $401.9M |
| Stockholders' EquityBook value | $152.0M | $534.9M |
| Total Assets | $175.7M | $1.1B |
| Debt / EquityLower = less leverage | 0.03× | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $63.0M | ||
| Q3 25 | — | $49.9M | ||
| Q2 25 | — | $49.2M | ||
| Q1 25 | — | $65.5M | ||
| Q4 24 | — | $76.1M | ||
| Q3 24 | — | $69.5M | ||
| Q2 24 | — | $65.1M | ||
| Q1 24 | — | $55.1M |
| Q4 25 | — | $401.9M | ||
| Q3 25 | $4.7M | $403.1M | ||
| Q2 25 | $4.7M | $403.1M | ||
| Q1 25 | $4.7M | $405.2M | ||
| Q4 24 | $4.7M | $406.4M | ||
| Q3 24 | $8.9M | $403.2M | ||
| Q2 24 | $11.3M | $396.1M | ||
| Q1 24 | $11.4M | $396.7M |
| Q4 25 | — | $534.9M | ||
| Q3 25 | $152.0M | $537.8M | ||
| Q2 25 | $152.3M | $539.0M | ||
| Q1 25 | $152.8M | $544.1M | ||
| Q4 24 | $156.1M | $548.1M | ||
| Q3 24 | $164.3M | $564.3M | ||
| Q2 24 | $163.5M | $566.2M | ||
| Q1 24 | $164.3M | $560.0M |
| Q4 25 | — | $1.1B | ||
| Q3 25 | $175.7M | $1.1B | ||
| Q2 25 | $175.2M | $1.1B | ||
| Q1 25 | $175.2M | $1.1B | ||
| Q4 24 | $177.5M | $1.1B | ||
| Q3 24 | $190.0M | $1.1B | ||
| Q2 24 | $191.4M | $1.1B | ||
| Q1 24 | $177.5M | $1.1B |
| Q4 25 | — | 0.75× | ||
| Q3 25 | 0.03× | 0.75× | ||
| Q2 25 | 0.03× | 0.75× | ||
| Q1 25 | 0.03× | 0.74× | ||
| Q4 24 | 0.03× | 0.74× | ||
| Q3 24 | 0.05× | 0.71× | ||
| Q2 24 | 0.07× | 0.70× | ||
| Q1 24 | 0.07× | 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 | $1.5M | $19.5M |
| Free Cash FlowOCF − Capex | $1.5M | — |
| FCF MarginFCF / Revenue | 5.9% | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $3.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $19.5M | ||
| Q3 25 | $1.5M | $8.5M | ||
| Q2 25 | $1.4M | $-3.6M | ||
| Q1 25 | $-2.5M | $-1.3M | ||
| Q4 24 | $3.5M | $6.5M | ||
| Q3 24 | $1.5M | $10.1M | ||
| Q2 24 | $721.9K | $19.6M | ||
| Q1 24 | $624.4K | $5.2M |
| Q4 25 | — | — | ||
| Q3 25 | $1.5M | — | ||
| Q2 25 | $1.3M | — | ||
| Q1 25 | $-2.5M | — | ||
| Q4 24 | $3.5M | — | ||
| Q3 24 | $1.2M | — | ||
| Q2 24 | $668.3K | — | ||
| Q1 24 | $615.4K | — |
| Q4 25 | — | — | ||
| Q3 25 | 5.9% | — | ||
| Q2 25 | 5.4% | — | ||
| Q1 25 | -22.8% | — | ||
| Q4 24 | 19.6% | — | ||
| Q3 24 | 4.9% | — | ||
| Q2 24 | 2.5% | — | ||
| Q1 24 | 9.0% | — |
| Q4 25 | — | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 1.0% | — | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 0.1% | — |
| 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.
