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Side-by-side financial comparison of Mistras Group, Inc. (MG) and Ranpak Holdings Corp. (PACK). Click either name above to swap in a different company.
Mistras Group, Inc. is the larger business by last-quarter revenue ($181.5M vs $93.7M, roughly 1.9× Ranpak Holdings Corp.). On growth, Mistras Group, Inc. posted the faster year-over-year revenue change (5.1% vs 2.3%). Over the past eight quarters, Ranpak Holdings Corp.'s revenue compounded faster (13.7% CAGR vs -0.8%).
Mistras Group, Inc. is a global provider of asset integrity and protection solutions, offering non-destructive testing, inspection, real-time monitoring, and engineering consulting services. Its key client segments include oil and gas, aerospace, power generation, and manufacturing industries, with operations spanning North America, Europe, and Asia-Pacific, helping clients enhance operational safety, extend asset lifespans, and minimize unplanned downtime.
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...
MG vs PACK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $181.5M | $93.7M |
| Net Profit | $3.8M | — |
| Gross Margin | 28.4% | 39.0% |
| Operating Margin | 7.0% | -1.0% |
| Net Margin | 2.1% | — |
| Revenue YoY | 5.1% | 2.3% |
| Net Profit YoY | -27.4% | — |
| EPS (diluted) | $0.12 | $-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 | $181.5M | $93.7M | ||
| Q3 25 | $195.5M | $83.6M | ||
| Q2 25 | $185.4M | $77.8M | ||
| Q1 25 | $161.6M | $77.6M | ||
| Q4 24 | $172.7M | $91.6M | ||
| Q3 24 | $182.7M | $78.6M | ||
| Q2 24 | $189.8M | $72.8M | ||
| Q1 24 | $184.4M | $72.5M |
| Q4 25 | $3.8M | — | ||
| Q3 25 | $13.1M | $-10.4M | ||
| Q2 25 | $3.0M | $-7.5M | ||
| Q1 25 | $-3.2M | $-10.9M | ||
| Q4 24 | $5.2M | — | ||
| Q3 24 | $6.4M | $-8.1M | ||
| Q2 24 | $6.4M | $5.5M | ||
| Q1 24 | $995.0K | $-8.1M |
| Q4 25 | 28.4% | 39.0% | ||
| Q3 25 | 29.8% | 41.1% | ||
| Q2 25 | 29.1% | 37.1% | ||
| Q1 25 | 25.3% | 39.8% | ||
| Q4 24 | 26.5% | 45.2% | ||
| Q3 24 | 26.8% | 43.8% | ||
| Q2 24 | 27.1% | 43.5% | ||
| Q1 24 | 25.0% | 44.6% |
| Q4 25 | 7.0% | -1.0% | ||
| Q3 25 | 10.4% | -6.8% | ||
| Q2 25 | 4.5% | -12.5% | ||
| Q1 25 | -0.6% | -10.3% | ||
| Q4 24 | 6.1% | 1.5% | ||
| Q3 24 | 6.5% | -5.3% | ||
| Q2 24 | 6.3% | -7.1% | ||
| Q1 24 | 3.0% | -6.6% |
| Q4 25 | 2.1% | — | ||
| Q3 25 | 6.7% | -12.4% | ||
| Q2 25 | 1.6% | -9.6% | ||
| Q1 25 | -2.0% | -14.0% | ||
| Q4 24 | 3.0% | — | ||
| Q3 24 | 3.5% | -10.3% | ||
| Q2 24 | 3.4% | 7.6% | ||
| Q1 24 | 0.5% | -11.2% |
| Q4 25 | $0.12 | $-0.11 | ||
| Q3 25 | $0.41 | $-0.12 | ||
| Q2 25 | $0.10 | $-0.09 | ||
| Q1 25 | $-0.10 | $-0.13 | ||
| Q4 24 | $0.17 | $-0.13 | ||
| Q3 24 | $0.20 | $-0.10 | ||
| Q2 24 | $0.20 | $0.07 | ||
| Q1 24 | $0.03 | $-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 | $28.0M | $63.0M |
| Total DebtLower is stronger | $178.0M | $401.9M |
| Stockholders' EquityBook value | $235.1M | $534.9M |
| Total Assets | $578.8M | $1.1B |
| Debt / EquityLower = less leverage | 0.76× | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.0M | $63.0M | ||
| Q3 25 | $27.8M | $49.9M | ||
| Q2 25 | $20.0M | $49.2M | ||
| Q1 25 | $18.5M | $65.5M | ||
| Q4 24 | $18.3M | $76.1M | ||
| Q3 24 | $20.4M | $69.5M | ||
| Q2 24 | $17.2M | $65.1M | ||
| Q1 24 | $16.9M | $55.1M |
| Q4 25 | $178.0M | $401.9M | ||
| Q3 25 | $202.3M | $403.1M | ||
| Q2 25 | $189.4M | $403.1M | ||
| Q1 25 | $171.9M | $405.2M | ||
| Q4 24 | $169.6M | $406.4M | ||
| Q3 24 | $189.7M | $403.2M | ||
| Q2 24 | $199.7M | $396.1M | ||
| Q1 24 | $198.4M | $396.7M |
| Q4 25 | $235.1M | $534.9M | ||
| Q3 25 | $227.4M | $537.8M | ||
| Q2 25 | $215.8M | $539.0M | ||
| Q1 25 | $198.7M | $544.1M | ||
| Q4 24 | $198.6M | $548.1M | ||
| Q3 24 | $205.2M | $564.3M | ||
| Q2 24 | $193.2M | $566.2M | ||
| Q1 24 | $187.1M | $560.0M |
| Q4 25 | $578.8M | $1.1B | ||
| Q3 25 | $596.3M | $1.1B | ||
| Q2 25 | $571.0M | $1.1B | ||
| Q1 25 | $526.8M | $1.1B | ||
| Q4 24 | $523.0M | $1.1B | ||
| Q3 24 | $551.7M | $1.1B | ||
| Q2 24 | $548.1M | $1.1B | ||
| Q1 24 | $542.1M | $1.1B |
| Q4 25 | 0.76× | 0.75× | ||
| Q3 25 | 0.89× | 0.75× | ||
| Q2 25 | 0.88× | 0.75× | ||
| Q1 25 | 0.87× | 0.74× | ||
| Q4 24 | 0.85× | 0.74× | ||
| Q3 24 | 0.92× | 0.71× | ||
| Q2 24 | 1.03× | 0.70× | ||
| Q1 24 | 1.06× | 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 | $32.1M | $19.5M |
| Free Cash FlowOCF − Capex | $26.0M | — |
| FCF MarginFCF / Revenue | 14.3% | — |
| Capex IntensityCapex / Revenue | 3.4% | — |
| Cash ConversionOCF / Net Profit | 8.55× | — |
| TTM Free Cash FlowTrailing 4 quarters | $8.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.1M | $19.5M | ||
| Q3 25 | $4.5M | $8.5M | ||
| Q2 25 | $-9.3M | $-3.6M | ||
| Q1 25 | $5.6M | $-1.3M | ||
| Q4 24 | $25.7M | $6.5M | ||
| Q3 24 | $19.4M | $10.1M | ||
| Q2 24 | $4.5M | $19.6M | ||
| Q1 24 | $604.0K | $5.2M |
| Q4 25 | $26.0M | — | ||
| Q3 25 | $-4.1M | — | ||
| Q2 25 | $-14.7M | — | ||
| Q1 25 | $1.1M | — | ||
| Q4 24 | $22.1M | — | ||
| Q3 24 | $14.6M | — | ||
| Q2 24 | $-284.0K | — | ||
| Q1 24 | $-4.2M | — |
| Q4 25 | 14.3% | — | ||
| Q3 25 | -2.1% | — | ||
| Q2 25 | -7.9% | — | ||
| Q1 25 | 0.7% | — | ||
| Q4 24 | 12.8% | — | ||
| Q3 24 | 8.0% | — | ||
| Q2 24 | -0.1% | — | ||
| Q1 24 | -2.3% | — |
| Q4 25 | 3.4% | — | ||
| Q3 25 | 4.4% | — | ||
| Q2 25 | 2.9% | — | ||
| Q1 25 | 2.8% | — | ||
| Q4 24 | 2.1% | — | ||
| Q3 24 | 2.6% | — | ||
| Q2 24 | 2.5% | — | ||
| Q1 24 | 2.6% | — |
| Q4 25 | 8.55× | — | ||
| Q3 25 | 0.34× | — | ||
| Q2 25 | -3.07× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 4.96× | — | ||
| Q3 24 | 3.02× | — | ||
| Q2 24 | 0.71× | 3.56× | ||
| Q1 24 | 0.61× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MG
Segment breakdown not available.
PACK
| Other | $47.9M | 51% |
| Europe And Asia Segment | $45.8M | 49% |
