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Side-by-side financial comparison of Ranpak Holdings Corp. (PACK) and Piedmont Realty Trust, Inc. (PDM). Click either name above to swap in a different company.
Piedmont Realty Trust, Inc. is the larger business by last-quarter revenue ($143.3M vs $93.7M, roughly 1.5× Ranpak Holdings Corp.). On growth, Ranpak Holdings Corp. posted the faster year-over-year revenue change (2.3% vs 0.4%). Over the past eight quarters, Ranpak Holdings Corp.'s revenue compounded faster (13.7% CAGR vs 0.0%).
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...
Piedmont Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality office properties primarily located in high-growth metropolitan areas across the United States. It serves corporate tenants across multiple industry sectors including technology, professional services, and healthcare, and pursues stable long-term returns for stakeholders via strategic property management and portfolio optimization.
PACK vs PDM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $93.7M | $143.3M |
| Net Profit | — | $-45.0M |
| Gross Margin | 39.0% | — |
| Operating Margin | -1.0% | — |
| Net Margin | — | -31.4% |
| Revenue YoY | 2.3% | 0.4% |
| Net Profit YoY | — | -27.9% |
| EPS (diluted) | $-0.11 | $-0.10 |
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 | — | $143.3M | ||
| Q4 25 | $93.7M | $142.9M | ||
| Q3 25 | $83.6M | $139.2M | ||
| Q2 25 | $77.8M | $140.3M | ||
| Q1 25 | $77.6M | $142.7M | ||
| Q4 24 | $91.6M | $143.2M | ||
| Q3 24 | $78.6M | $139.3M | ||
| Q2 24 | $72.8M | $143.3M |
| Q1 26 | — | $-45.0M | ||
| Q4 25 | — | $-43.2M | ||
| Q3 25 | $-10.4M | $-13.5M | ||
| Q2 25 | $-7.5M | $-16.8M | ||
| Q1 25 | $-10.9M | $-10.1M | ||
| Q4 24 | — | $-30.0M | ||
| Q3 24 | $-8.1M | $-11.5M | ||
| Q2 24 | $5.5M | $-9.8M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | -1.0% | — | ||
| Q3 25 | -6.8% | — | ||
| Q2 25 | -12.5% | — | ||
| Q1 25 | -10.3% | — | ||
| Q4 24 | 1.5% | — | ||
| Q3 24 | -5.3% | — | ||
| Q2 24 | -7.1% | — |
| Q1 26 | — | -31.4% | ||
| Q4 25 | — | -30.3% | ||
| Q3 25 | -12.4% | -9.7% | ||
| Q2 25 | -9.6% | -12.0% | ||
| Q1 25 | -14.0% | -7.1% | ||
| Q4 24 | — | -20.9% | ||
| Q3 24 | -10.3% | -8.3% | ||
| Q2 24 | 7.6% | -6.8% |
| Q1 26 | — | $-0.10 | ||
| Q4 25 | $-0.11 | $-0.34 | ||
| Q3 25 | $-0.12 | $-0.11 | ||
| Q2 25 | $-0.09 | $-0.14 | ||
| Q1 25 | $-0.13 | $-0.08 | ||
| Q4 24 | $-0.13 | $-0.25 | ||
| Q3 24 | $-0.10 | $-0.09 | ||
| Q2 24 | $0.07 | $-0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $63.0M | $2.3M |
| Total DebtLower is stronger | $401.9M | — |
| Stockholders' EquityBook value | $534.9M | $1.5B |
| Total Assets | $1.1B | $4.0B |
| Debt / EquityLower = less leverage | 0.75× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $2.3M | ||
| Q4 25 | $63.0M | $731.0K | ||
| Q3 25 | $49.9M | $3.0M | ||
| Q2 25 | $49.2M | $3.3M | ||
| Q1 25 | $65.5M | $2.9M | ||
| Q4 24 | $76.1M | $109.6M | ||
| Q3 24 | $69.5M | $133.6M | ||
| Q2 24 | $65.1M | $138.5M |
| Q1 26 | — | — | ||
| Q4 25 | $401.9M | $2.2B | ||
| Q3 25 | $403.1M | $2.2B | ||
| Q2 25 | $403.1M | $2.2B | ||
| Q1 25 | $405.2M | $2.2B | ||
| Q4 24 | $406.4M | $2.2B | ||
| Q3 24 | $403.2M | $2.2B | ||
| Q2 24 | $396.1M | $2.2B |
| Q1 26 | — | $1.5B | ||
| Q4 25 | $534.9M | $1.5B | ||
| Q3 25 | $537.8M | $1.5B | ||
| Q2 25 | $539.0M | $1.5B | ||
| Q1 25 | $544.1M | $1.6B | ||
| Q4 24 | $548.1M | $1.6B | ||
| Q3 24 | $564.3M | $1.6B | ||
| Q2 24 | $566.2M | $1.7B |
| Q1 26 | — | $4.0B | ||
| Q4 25 | $1.1B | $4.0B | ||
| Q3 25 | $1.1B | $4.0B | ||
| Q2 25 | $1.1B | $4.0B | ||
| Q1 25 | $1.1B | $4.0B | ||
| Q4 24 | $1.1B | $4.1B | ||
| Q3 24 | $1.1B | $4.1B | ||
| Q2 24 | $1.1B | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | 0.75× | 1.49× | ||
| Q3 25 | 0.75× | 1.43× | ||
| Q2 25 | 0.75× | 1.41× | ||
| Q1 25 | 0.74× | 1.40× | ||
| Q4 24 | 0.74× | 1.40× | ||
| Q3 24 | 0.71× | 1.36× | ||
| Q2 24 | 0.70× | 1.34× |
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 | $19.5M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 110.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $19.5M | $140.6M | ||
| Q3 25 | $8.5M | $35.8M | ||
| Q2 25 | $-3.6M | $50.1M | ||
| Q1 25 | $-1.3M | $3.7M | ||
| Q4 24 | $6.5M | $198.1M | ||
| Q3 24 | $10.1M | $42.9M | ||
| Q2 24 | $19.6M | $66.8M |
| Q1 26 | — | 110.3% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 3.56× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PACK
| Other | $47.9M | 51% |
| Europe And Asia Segment | $45.8M | 49% |
PDM
Segment breakdown not available.
