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Side-by-side financial comparison of National CineMedia, Inc. (NCMI) 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 $63.4M, roughly 1.5× National CineMedia, Inc.). On growth, Ranpak Holdings Corp. posted the faster year-over-year revenue change (2.3% vs 1.6%). Over the past eight quarters, Ranpak Holdings Corp.'s revenue compounded faster (13.7% CAGR vs -16.4%).
National CineMedia, Inc. (NCM) is an American cinema advertising company. NCM displays ads to U.S. consumers in movie theaters, online and through mobile technology. NCM presents cinema advertising across a digital in-theater network, consisting of theaters owned by AMC Theatres, Cinemark Theatres, Regal Cinemas and other regional theater circuits.
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...
NCMI vs PACK — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $63.4M | $93.7M |
| Net Profit | $1.6M | — |
| Gross Margin | 95.0% | 39.0% |
| Operating Margin | -2.8% | -1.0% |
| Net Margin | 2.5% | — |
| Revenue YoY | 1.6% | 2.3% |
| Net Profit YoY | 144.4% | — |
| EPS (diluted) | $0.02 | $-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 | $63.4M | $83.6M | ||
| Q2 25 | $51.8M | $77.8M | ||
| Q1 25 | $34.9M | $77.6M | ||
| Q4 24 | $86.3M | $91.6M | ||
| Q3 24 | $62.4M | $78.6M | ||
| Q2 24 | $54.7M | $72.8M | ||
| Q1 24 | $37.4M | $72.5M |
| Q4 25 | — | — | ||
| Q3 25 | $1.6M | $-10.4M | ||
| Q2 25 | $-10.7M | $-7.5M | ||
| Q1 25 | $-30.7M | $-10.9M | ||
| Q4 24 | $24.7M | — | ||
| Q3 24 | $-3.6M | $-8.1M | ||
| Q2 24 | $-8.7M | $5.5M | ||
| Q1 24 | $-34.7M | $-8.1M |
| Q4 25 | — | 39.0% | ||
| Q3 25 | 95.0% | 41.1% | ||
| Q2 25 | 93.8% | 37.1% | ||
| Q1 25 | 91.1% | 39.8% | ||
| Q4 24 | 96.4% | 45.2% | ||
| Q3 24 | 94.7% | 43.8% | ||
| Q2 24 | 93.2% | 43.5% | ||
| Q1 24 | 90.4% | 44.6% |
| Q4 25 | — | -1.0% | ||
| Q3 25 | -2.8% | -6.8% | ||
| Q2 25 | -23.2% | -12.5% | ||
| Q1 25 | -68.5% | -10.3% | ||
| Q4 24 | 23.2% | 1.5% | ||
| Q3 24 | -12.0% | -5.3% | ||
| Q2 24 | -17.0% | -7.1% | ||
| Q1 24 | -60.7% | -6.6% |
| Q4 25 | — | — | ||
| Q3 25 | 2.5% | -12.4% | ||
| Q2 25 | -20.7% | -9.6% | ||
| Q1 25 | -88.0% | -14.0% | ||
| Q4 24 | 28.6% | — | ||
| Q3 24 | -5.8% | -10.3% | ||
| Q2 24 | -15.9% | 7.6% | ||
| Q1 24 | -92.8% | -11.2% |
| Q4 25 | — | $-0.11 | ||
| Q3 25 | $0.02 | $-0.12 | ||
| Q2 25 | $-0.11 | $-0.09 | ||
| Q1 25 | $-0.32 | $-0.13 | ||
| Q4 24 | $0.26 | $-0.13 | ||
| Q3 24 | $-0.04 | $-0.10 | ||
| Q2 24 | $-0.09 | $0.07 | ||
| Q1 24 | $-0.36 | $-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 | $29.9M | $63.0M |
| Total DebtLower is stronger | — | $401.9M |
| Stockholders' EquityBook value | $350.5M | $534.9M |
| Total Assets | $451.9M | $1.1B |
| Debt / EquityLower = less leverage | — | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $63.0M | ||
| Q3 25 | $29.9M | $49.9M | ||
| Q2 25 | $37.2M | $49.2M | ||
| Q1 25 | $59.8M | $65.5M | ||
| Q4 24 | $75.2M | $76.1M | ||
| Q3 24 | $49.5M | $69.5M | ||
| Q2 24 | $53.8M | $65.1M | ||
| Q1 24 | $57.1M | $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 | — | $534.9M | ||
| Q3 25 | $350.5M | $537.8M | ||
| Q2 25 | $350.0M | $539.0M | ||
| Q1 25 | $370.8M | $544.1M | ||
| Q4 24 | $411.2M | $548.1M | ||
| Q3 24 | $385.5M | $564.3M | ||
| Q2 24 | $387.9M | $566.2M | ||
| Q1 24 | $402.3M | $560.0M |
| Q4 25 | — | $1.1B | ||
| Q3 25 | $451.9M | $1.1B | ||
| Q2 25 | $462.0M | $1.1B | ||
| Q1 25 | $503.8M | $1.1B | ||
| Q4 24 | $568.6M | $1.1B | ||
| Q3 24 | $526.1M | $1.1B | ||
| Q2 24 | $527.2M | $1.1B | ||
| Q1 24 | $538.6M | $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 | $-1.0M | $19.5M |
| Free Cash FlowOCF − Capex | $-2.0M | — |
| FCF MarginFCF / Revenue | -3.2% | — |
| Capex IntensityCapex / Revenue | 1.6% | — |
| Cash ConversionOCF / Net Profit | -0.63× | — |
| TTM Free Cash FlowTrailing 4 quarters | $24.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $19.5M | ||
| Q3 25 | $-1.0M | $8.5M | ||
| Q2 25 | $-4.9M | $-3.6M | ||
| Q1 25 | $6.0M | $-1.3M | ||
| Q4 24 | $30.5M | $6.5M | ||
| Q3 24 | $-2.0M | $10.1M | ||
| Q2 24 | $7.7M | $19.6M | ||
| Q1 24 | $24.1M | $5.2M |
| Q4 25 | — | — | ||
| Q3 25 | $-2.0M | — | ||
| Q2 25 | $-6.6M | — | ||
| Q1 25 | $5.3M | — | ||
| Q4 24 | $28.1M | — | ||
| Q3 24 | $-2.6M | — | ||
| Q2 24 | $6.4M | — | ||
| Q1 24 | $22.6M | — |
| Q4 25 | — | — | ||
| Q3 25 | -3.2% | — | ||
| Q2 25 | -12.7% | — | ||
| Q1 25 | 15.2% | — | ||
| Q4 24 | 32.6% | — | ||
| Q3 24 | -4.2% | — | ||
| Q2 24 | 11.7% | — | ||
| Q1 24 | 60.4% | — |
| Q4 25 | — | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 3.3% | — | ||
| Q1 25 | 2.0% | — | ||
| Q4 24 | 2.8% | — | ||
| Q3 24 | 1.0% | — | ||
| Q2 24 | 2.4% | — | ||
| Q1 24 | 4.0% | — |
| Q4 25 | — | — | ||
| Q3 25 | -0.63× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.23× | — | ||
| 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
NCMI
| National Advertising Revenue | $49.9M | 79% |
| Local Advertising Revenue | $9.6M | 15% |
| Founding Member Advertising Revenue From Beverage Concessionaire Agreements | $3.9M | 6% |
PACK
| Other | $47.9M | 51% |
| Europe And Asia Segment | $45.8M | 49% |
