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Side-by-side financial comparison of LIQUIDITY SERVICES INC (LQDT) and Ranpak Holdings Corp. (PACK). Click either name above to swap in a different company.
LIQUIDITY SERVICES INC is the larger business by last-quarter revenue ($120.7M vs $93.7M, roughly 1.3× Ranpak Holdings Corp.). On growth, LIQUIDITY SERVICES INC posted the faster year-over-year revenue change (3.7% vs 2.3%). Over the past eight quarters, Ranpak Holdings Corp.'s revenue compounded faster (13.7% CAGR vs 13.6%).
Liquidity Services, Inc. is an American e-commerce company providing surplus asset management services through a network of online marketplaces. It serves businesses and government agencies by facilitating the resale of surplus, returned, and end-of-life goods. Founded in 1999 and headquartered in Bethesda, Maryland, United States.
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...
LQDT vs PACK — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $120.7M | $93.7M |
| Net Profit | $7.5M | — |
| Gross Margin | — | 39.0% |
| Operating Margin | 8.0% | -1.0% |
| Net Margin | 6.2% | — |
| Revenue YoY | 3.7% | 2.3% |
| Net Profit YoY | 6.7% | — |
| EPS (diluted) | $0.23 | $-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.
| Q1 26 | $120.7M | — | ||
| Q4 25 | $121.2M | $93.7M | ||
| Q3 25 | $118.1M | $83.6M | ||
| Q2 25 | $119.9M | $77.8M | ||
| Q1 25 | $116.4M | $77.6M | ||
| Q4 24 | $122.3M | $91.6M | ||
| Q3 24 | $106.9M | $78.6M | ||
| Q2 24 | $93.6M | $72.8M |
| Q1 26 | $7.5M | — | ||
| Q4 25 | $7.5M | — | ||
| Q3 25 | $7.8M | $-10.4M | ||
| Q2 25 | $7.4M | $-7.5M | ||
| Q1 25 | $7.1M | $-10.9M | ||
| Q4 24 | $5.8M | — | ||
| Q3 24 | $6.4M | $-8.1M | ||
| Q2 24 | $6.0M | $5.5M |
| Q1 26 | — | — | ||
| Q4 25 | 47.0% | 39.0% | ||
| Q3 25 | 47.8% | 41.1% | ||
| Q2 25 | 45.7% | 37.1% | ||
| Q1 25 | 40.8% | 39.8% | ||
| Q4 24 | 41.0% | 45.2% | ||
| Q3 24 | 45.6% | 43.8% | ||
| Q2 24 | 52.8% | 43.5% |
| Q1 26 | 8.0% | — | ||
| Q4 25 | 7.7% | -1.0% | ||
| Q3 25 | 9.3% | -6.8% | ||
| Q2 25 | 8.5% | -12.5% | ||
| Q1 25 | 5.8% | -10.3% | ||
| Q4 24 | 5.8% | 1.5% | ||
| Q3 24 | 6.8% | -5.3% | ||
| Q2 24 | 8.4% | -7.1% |
| Q1 26 | 6.2% | — | ||
| Q4 25 | 6.2% | — | ||
| Q3 25 | 6.6% | -12.4% | ||
| Q2 25 | 6.2% | -9.6% | ||
| Q1 25 | 6.1% | -14.0% | ||
| Q4 24 | 4.7% | — | ||
| Q3 24 | 6.0% | -10.3% | ||
| Q2 24 | 6.4% | 7.6% |
| Q1 26 | $0.23 | — | ||
| Q4 25 | $0.23 | $-0.11 | ||
| Q3 25 | $0.24 | $-0.12 | ||
| Q2 25 | $0.23 | $-0.09 | ||
| Q1 25 | $0.22 | $-0.13 | ||
| Q4 24 | $0.18 | $-0.13 | ||
| Q3 24 | $0.20 | $-0.10 | ||
| Q2 24 | $0.19 | $0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $204.0M | $63.0M |
| Total DebtLower is stronger | — | $401.9M |
| Stockholders' EquityBook value | — | $534.9M |
| Total Assets | $400.4M | $1.1B |
| Debt / EquityLower = less leverage | — | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $204.0M | — | ||
| Q4 25 | $11.6M | $63.0M | ||
| Q3 25 | $11.2M | $49.9M | ||
| Q2 25 | $11.4M | $49.2M | ||
| Q1 25 | $10.5M | $65.5M | ||
| Q4 24 | $10.4M | $76.1M | ||
| Q3 24 | $2.3M | $69.5M | ||
| Q2 24 | $6.5M | $65.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | $401.9M | ||
| Q3 25 | — | $403.1M | ||
| Q2 25 | — | $403.1M | ||
| Q1 25 | — | $405.2M | ||
| Q4 24 | — | $406.4M | ||
| Q3 24 | — | $403.2M | ||
| Q2 24 | — | $396.1M |
| Q1 26 | — | — | ||
| Q4 25 | $215.3M | $534.9M | ||
| Q3 25 | $203.2M | $537.8M | ||
| Q2 25 | $208.7M | $539.0M | ||
| Q1 25 | $196.3M | $544.1M | ||
| Q4 24 | $189.2M | $548.1M | ||
| Q3 24 | $182.6M | $564.3M | ||
| Q2 24 | $172.0M | $566.2M |
| Q1 26 | $400.4M | — | ||
| Q4 25 | $369.1M | $1.1B | ||
| Q3 25 | $375.1M | $1.1B | ||
| Q2 25 | $372.4M | $1.1B | ||
| Q1 25 | $358.8M | $1.1B | ||
| Q4 24 | $333.2M | $1.1B | ||
| Q3 24 | $346.9M | $1.1B | ||
| Q2 24 | $325.5M | $1.1B |
| Q1 26 | — | — | ||
| 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× |
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 | $29.0M | $19.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 3.86× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $29.0M | — | ||
| Q4 25 | $-526.0K | $19.5M | ||
| Q3 25 | $38.0M | $8.5M | ||
| Q2 25 | $19.3M | $-3.6M | ||
| Q1 25 | $21.6M | $-1.3M | ||
| Q4 24 | $-12.1M | $6.5M | ||
| Q3 24 | $22.0M | $10.1M | ||
| Q2 24 | $22.2M | $19.6M |
| Q1 26 | — | — | ||
| Q4 25 | $-2.8M | — | ||
| Q3 25 | $36.0M | — | ||
| Q2 25 | $17.2M | — | ||
| Q1 25 | $19.8M | — | ||
| Q4 24 | $-14.0M | — | ||
| Q3 24 | $19.2M | — | ||
| Q2 24 | $20.3M | — |
| Q1 26 | — | — | ||
| Q4 25 | -2.3% | — | ||
| Q3 25 | 30.5% | — | ||
| Q2 25 | 14.3% | — | ||
| Q1 25 | 17.0% | — | ||
| Q4 24 | -11.4% | — | ||
| Q3 24 | 17.9% | — | ||
| Q2 24 | 21.7% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | — | ||
| Q3 25 | 1.7% | — | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 1.6% | — | ||
| Q4 24 | 1.5% | — | ||
| Q3 24 | 2.7% | — | ||
| Q2 24 | 2.1% | — |
| Q1 26 | 3.86× | — | ||
| Q4 25 | -0.07× | — | ||
| Q3 25 | 4.86× | — | ||
| Q2 25 | 2.60× | — | ||
| Q1 25 | 3.07× | — | ||
| Q4 24 | -2.09× | — | ||
| Q3 24 | 3.45× | — | ||
| Q2 24 | 3.71× | 3.56× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LQDT
| Purchase revenues | $77.9M | 64% |
| Consignment and other fee revenues | $42.9M | 36% |
PACK
| Other | $47.9M | 51% |
| Europe And Asia Segment | $45.8M | 49% |
