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Side-by-side financial comparison of MARAVAI LIFESCIENCES HOLDINGS, INC. (MRVI) 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 $49.9M, roughly 1.9× MARAVAI LIFESCIENCES HOLDINGS, INC.). On growth, Ranpak Holdings Corp. posted the faster year-over-year revenue change (2.3% vs -11.8%). Over the past eight quarters, Ranpak Holdings Corp.'s revenue compounded faster (13.7% CAGR vs -11.9%).
Maravai LifeSciences Holdings is a global life sciences firm developing critical reagents, diagnostic products, and tech solutions to support biopharma research, drug development, clinical diagnostics, and cell/gene therapy manufacturing. It serves biotech, pharma, research bodies and labs worldwide across three core segments.
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...
MRVI vs PACK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $49.9M | $93.7M |
| Net Profit | $-35.7M | — |
| Gross Margin | 25.8% | 39.0% |
| Operating Margin | -117.9% | -1.0% |
| Net Margin | -71.6% | — |
| Revenue YoY | -11.8% | 2.3% |
| Net Profit YoY | -37.7% | — |
| EPS (diluted) | $-0.24 | $-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 | $49.9M | $93.7M | ||
| Q3 25 | $41.6M | $83.6M | ||
| Q2 25 | $47.4M | $77.8M | ||
| Q1 25 | $46.9M | $77.6M | ||
| Q4 24 | $56.6M | $91.6M | ||
| Q3 24 | $69.0M | $78.6M | ||
| Q2 24 | $69.4M | $72.8M | ||
| Q1 24 | $64.2M | $72.5M |
| Q4 25 | $-35.7M | — | ||
| Q3 25 | $-25.6M | $-10.4M | ||
| Q2 25 | $-39.6M | $-7.5M | ||
| Q1 25 | $-29.9M | $-10.9M | ||
| Q4 24 | $-25.9M | — | ||
| Q3 24 | $-97.1M | $-8.1M | ||
| Q2 24 | $-9.8M | $5.5M | ||
| Q1 24 | $-12.1M | $-8.1M |
| Q4 25 | 25.8% | 39.0% | ||
| Q3 25 | 13.6% | 41.1% | ||
| Q2 25 | 16.4% | 37.1% | ||
| Q1 25 | 16.5% | 39.8% | ||
| Q4 24 | 34.3% | 45.2% | ||
| Q3 24 | 46.7% | 43.8% | ||
| Q2 24 | 44.4% | 43.5% | ||
| Q1 24 | 40.3% | 44.6% |
| Q4 25 | -117.9% | -1.0% | ||
| Q3 25 | -98.6% | -6.8% | ||
| Q2 25 | -139.8% | -12.5% | ||
| Q1 25 | -104.9% | -10.3% | ||
| Q4 24 | -66.7% | 1.5% | ||
| Q3 24 | -239.9% | -5.3% | ||
| Q2 24 | -19.4% | -7.1% | ||
| Q1 24 | -29.4% | -6.6% |
| Q4 25 | -71.6% | — | ||
| Q3 25 | -61.4% | -12.4% | ||
| Q2 25 | -83.5% | -9.6% | ||
| Q1 25 | -63.9% | -14.0% | ||
| Q4 24 | -45.8% | — | ||
| Q3 24 | -140.6% | -10.3% | ||
| Q2 24 | -14.1% | 7.6% | ||
| Q1 24 | -18.8% | -11.2% |
| Q4 25 | $-0.24 | $-0.11 | ||
| Q3 25 | $-0.18 | $-0.12 | ||
| Q2 25 | $-0.27 | $-0.09 | ||
| Q1 25 | $-0.21 | $-0.13 | ||
| Q4 24 | $-0.21 | $-0.13 | ||
| Q3 24 | $-0.68 | $-0.10 | ||
| Q2 24 | $-0.07 | $0.07 | ||
| Q1 24 | $-0.09 | $-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 | $216.9M | $63.0M |
| Total DebtLower is stronger | $291.8M | $401.9M |
| Stockholders' EquityBook value | $212.4M | $534.9M |
| Total Assets | $770.6M | $1.1B |
| Debt / EquityLower = less leverage | 1.37× | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $216.9M | $63.0M | ||
| Q3 25 | $243.6M | $49.9M | ||
| Q2 25 | $269.9M | $49.2M | ||
| Q1 25 | $285.1M | $65.5M | ||
| Q4 24 | $322.4M | $76.1M | ||
| Q3 24 | $578.2M | $69.5M | ||
| Q2 24 | $573.2M | $65.1M | ||
| Q1 24 | $561.7M | $55.1M |
| Q4 25 | $291.8M | $401.9M | ||
| Q3 25 | $292.8M | $403.1M | ||
| Q2 25 | $293.9M | $403.1M | ||
| Q1 25 | $294.9M | $405.2M | ||
| Q4 24 | $295.9M | $406.4M | ||
| Q3 24 | $521.7M | $403.2M | ||
| Q2 24 | $522.5M | $396.1M | ||
| Q1 24 | $523.3M | $396.7M |
| Q4 25 | $212.4M | $534.9M | ||
| Q3 25 | $245.4M | $537.8M | ||
| Q2 25 | $265.9M | $539.0M | ||
| Q1 25 | $300.6M | $544.1M | ||
| Q4 24 | $325.3M | $548.1M | ||
| Q3 24 | $344.9M | $564.3M | ||
| Q2 24 | $434.7M | $566.2M | ||
| Q1 24 | $410.7M | $560.0M |
| Q4 25 | $770.6M | $1.1B | ||
| Q3 25 | $849.2M | $1.1B | ||
| Q2 25 | $897.0M | $1.1B | ||
| Q1 25 | $959.8M | $1.1B | ||
| Q4 24 | $1.0B | $1.1B | ||
| Q3 24 | $1.3B | $1.1B | ||
| Q2 24 | $1.4B | $1.1B | ||
| Q1 24 | $1.4B | $1.1B |
| Q4 25 | 1.37× | 0.75× | ||
| Q3 25 | 1.19× | 0.75× | ||
| Q2 25 | 1.11× | 0.75× | ||
| Q1 25 | 0.98× | 0.74× | ||
| Q4 24 | 0.91× | 0.74× | ||
| Q3 24 | 1.51× | 0.71× | ||
| Q2 24 | 1.20× | 0.70× | ||
| Q1 24 | 1.27× | 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 | $-22.8M | $19.5M |
| Free Cash FlowOCF − Capex | $-24.9M | — |
| FCF MarginFCF / Revenue | -49.9% | — |
| Capex IntensityCapex / Revenue | 4.2% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-70.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-22.8M | $19.5M | ||
| Q3 25 | $-15.2M | $8.5M | ||
| Q2 25 | $-10.3M | $-3.6M | ||
| Q1 25 | $-9.4M | $-1.3M | ||
| Q4 24 | $-14.6M | $6.5M | ||
| Q3 24 | $13.1M | $10.1M | ||
| Q2 24 | $17.4M | $19.6M | ||
| Q1 24 | $-8.5M | $5.2M |
| Q4 25 | $-24.9M | — | ||
| Q3 25 | $-18.1M | — | ||
| Q2 25 | $-13.1M | — | ||
| Q1 25 | $-14.6M | — | ||
| Q4 24 | $-20.5M | — | ||
| Q3 24 | $4.5M | — | ||
| Q2 24 | $7.9M | — | ||
| Q1 24 | $-14.1M | — |
| Q4 25 | -49.9% | — | ||
| Q3 25 | -43.4% | — | ||
| Q2 25 | -27.7% | — | ||
| Q1 25 | -31.2% | — | ||
| Q4 24 | -36.2% | — | ||
| Q3 24 | 6.6% | — | ||
| Q2 24 | 11.4% | — | ||
| Q1 24 | -22.0% | — |
| Q4 25 | 4.2% | — | ||
| Q3 25 | 7.0% | — | ||
| Q2 25 | 6.1% | — | ||
| Q1 25 | 11.2% | — | ||
| Q4 24 | 10.3% | — | ||
| Q3 24 | 12.4% | — | ||
| Q2 24 | 13.8% | — | ||
| Q1 24 | 8.8% | — |
| 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.
Revenue Breakdown by Segment
MRVI
| Cygnus Segment | $27.2M | 54% |
| Other | $18.4M | 37% |
| Shipping And Handling | $4.3M | 9% |
PACK
| Other | $47.9M | 51% |
| Europe And Asia Segment | $45.8M | 49% |
