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Side-by-side financial comparison of MFA FINANCIAL, INC. (MFA) 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 $55.5M, roughly 1.7× MFA FINANCIAL, INC.). On growth, MFA FINANCIAL, INC. posted the faster year-over-year revenue change (9.2% vs 2.3%). Over the past eight quarters, Ranpak Holdings Corp.'s revenue compounded faster (13.7% CAGR vs 7.7%).
MFA Financial, Inc. is a U.S.-headquartered real estate investment trust (REIT) specializing in investing in and managing residential and commercial mortgage-backed securities, mortgage loans, and other real estate-related financial assets. It caters primarily to institutional and individual investors across the U.S., focusing on delivering stable risk-adjusted returns via rigorous asset screening and risk management frameworks.
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...
MFA vs PACK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $55.5M | $93.7M |
| Net Profit | — | — |
| Gross Margin | — | 39.0% |
| Operating Margin | 97.9% | -1.0% |
| Net Margin | — | — |
| Revenue YoY | 9.2% | 2.3% |
| Net Profit YoY | — | — |
| EPS (diluted) | $0.43 | $-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 | $55.5M | $93.7M | ||
| Q3 25 | $56.8M | $83.6M | ||
| Q2 25 | $61.3M | $77.8M | ||
| Q1 25 | $57.5M | $77.6M | ||
| Q4 24 | $50.8M | $91.6M | ||
| Q3 24 | $50.6M | $78.6M | ||
| Q2 24 | $53.5M | $72.8M | ||
| Q1 24 | $47.8M | $72.5M |
| Q4 25 | — | — | ||
| Q3 25 | $48.1M | $-10.4M | ||
| Q2 25 | $33.2M | $-7.5M | ||
| Q1 25 | $41.2M | $-10.9M | ||
| Q4 24 | — | — | ||
| Q3 24 | $48.2M | $-8.1M | ||
| Q2 24 | $41.9M | $5.5M | ||
| Q1 24 | $23.2M | $-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 | 97.9% | -1.0% | ||
| Q3 25 | 84.5% | -6.8% | ||
| Q2 25 | 54.5% | -12.5% | ||
| Q1 25 | 70.0% | -10.3% | ||
| Q4 24 | 6.8% | 1.5% | ||
| Q3 24 | 98.2% | -5.3% | ||
| Q2 24 | 79.1% | -7.1% | ||
| Q1 24 | 50.7% | -6.6% |
| Q4 25 | — | — | ||
| Q3 25 | 84.7% | -12.4% | ||
| Q2 25 | 54.2% | -9.6% | ||
| Q1 25 | 71.6% | -14.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | 95.2% | -10.3% | ||
| Q2 24 | 78.4% | 7.6% | ||
| Q1 24 | 48.5% | -11.2% |
| Q4 25 | $0.43 | $-0.11 | ||
| Q3 25 | $0.35 | $-0.12 | ||
| Q2 25 | $0.21 | $-0.09 | ||
| Q1 25 | $0.31 | $-0.13 | ||
| Q4 24 | $-0.01 | $-0.13 | ||
| Q3 24 | $0.37 | $-0.10 | ||
| Q2 24 | $0.32 | $0.07 | ||
| Q1 24 | $0.14 | $-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 | $213.2M | $63.0M |
| Total DebtLower is stronger | — | $401.9M |
| Stockholders' EquityBook value | $1.8B | $534.9M |
| Total Assets | $13.0B | $1.1B |
| Debt / EquityLower = less leverage | — | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $213.2M | $63.0M | ||
| Q3 25 | $305.2M | $49.9M | ||
| Q2 25 | $275.7M | $49.2M | ||
| Q1 25 | $253.7M | $65.5M | ||
| Q4 24 | $338.9M | $76.1M | ||
| Q3 24 | $305.6M | $69.5M | ||
| Q2 24 | $289.4M | $65.1M | ||
| Q1 24 | $306.3M | $55.1M |
| 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 24 | — | $396.7M |
| Q4 25 | $1.8B | $534.9M | ||
| Q3 25 | $1.8B | $537.8M | ||
| Q2 25 | $1.8B | $539.0M | ||
| Q1 25 | $1.8B | $544.1M | ||
| Q4 24 | $1.8B | $548.1M | ||
| Q3 24 | $1.9B | $564.3M | ||
| Q2 24 | $1.9B | $566.2M | ||
| Q1 24 | $1.9B | $560.0M |
| Q4 25 | $13.0B | $1.1B | ||
| Q3 25 | $12.1B | $1.1B | ||
| Q2 25 | $11.7B | $1.1B | ||
| Q1 25 | $11.5B | $1.1B | ||
| Q4 24 | $11.4B | $1.1B | ||
| Q3 24 | $11.2B | $1.1B | ||
| Q2 24 | $11.1B | $1.1B | ||
| Q1 24 | $10.9B | $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 | $76.2M | $19.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $76.2M | $19.5M | ||
| Q3 25 | $14.7M | $8.5M | ||
| Q2 25 | $38.5M | $-3.6M | ||
| Q1 25 | $-14.6M | $-1.3M | ||
| Q4 24 | $200.1M | $6.5M | ||
| Q3 24 | $-11.3M | $10.1M | ||
| Q2 24 | $46.5M | $19.6M | ||
| Q1 24 | $53.5M | $5.2M |
| Q4 25 | — | — | ||
| Q3 25 | 0.31× | — | ||
| Q2 25 | 1.16× | — | ||
| Q1 25 | -0.35× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.23× | — | ||
| Q2 24 | 1.11× | 3.56× | ||
| Q1 24 | 2.30× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MFA
Segment breakdown not available.
PACK
| Other | $47.9M | 51% |
| Europe And Asia Segment | $45.8M | 49% |
