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Side-by-side financial comparison of Ranpak Holdings Corp. (PACK) and Phathom Pharmaceuticals, Inc. (PHAT). Click either name above to swap in a different company.
Ranpak Holdings Corp. is the larger business by last-quarter revenue ($93.7M vs $57.6M, roughly 1.6× Phathom Pharmaceuticals, Inc.). On growth, Phathom Pharmaceuticals, Inc. posted the faster year-over-year revenue change (94.1% vs 2.3%).
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...
Phathom Pharmaceuticals is a clinical-stage biopharmaceutical firm focused on developing and commercializing innovative therapies for gastrointestinal diseases. Its lead product candidates address acid-related disorders, inflammatory bowel disease, and other GI conditions, serving patients mainly across North America and Europe.
PACK vs PHAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $93.7M | $57.6M |
| Net Profit | — | — |
| Gross Margin | 39.0% | 86.7% |
| Operating Margin | -1.0% | — |
| Net Margin | — | — |
| Revenue YoY | 2.3% | 94.1% |
| Net Profit YoY | — | 71.6% |
| EPS (diluted) | $-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 | $57.6M | ||
| Q3 25 | $83.6M | $49.5M | ||
| Q2 25 | $77.8M | $39.5M | ||
| Q1 25 | $77.6M | $28.5M | ||
| Q4 24 | $91.6M | $29.7M | ||
| Q3 24 | $78.6M | $16.4M | ||
| Q2 24 | $72.8M | $7.3M | ||
| Q1 24 | $72.5M | — |
| Q4 25 | — | — | ||
| Q3 25 | $-10.4M | $-30.0M | ||
| Q2 25 | $-7.5M | $-75.8M | ||
| Q1 25 | $-10.9M | $-94.3M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-8.1M | $-85.6M | ||
| Q2 24 | $5.5M | $-91.4M | ||
| Q1 24 | $-8.1M | — |
| Q4 25 | 39.0% | 86.7% | ||
| Q3 25 | 41.1% | 87.5% | ||
| Q2 25 | 37.1% | 87.2% | ||
| Q1 25 | 39.8% | 86.9% | ||
| Q4 24 | 45.2% | 87.1% | ||
| Q3 24 | 43.8% | 85.6% | ||
| Q2 24 | 43.5% | 81.2% | ||
| Q1 24 | 44.6% | — |
| Q4 25 | -1.0% | — | ||
| Q3 25 | -6.8% | -30.8% | ||
| Q2 25 | -12.5% | -151.7% | ||
| Q1 25 | -10.3% | -276.5% | ||
| Q4 24 | 1.5% | — | ||
| Q3 24 | -5.3% | -433.0% | ||
| Q2 24 | -7.1% | -1055.4% | ||
| Q1 24 | -6.6% | — |
| Q4 25 | — | — | ||
| Q3 25 | -12.4% | -60.5% | ||
| Q2 25 | -9.6% | -191.9% | ||
| Q1 25 | -14.0% | -330.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | -10.3% | -523.3% | ||
| Q2 24 | 7.6% | -1248.6% | ||
| Q1 24 | -11.2% | — |
| Q4 25 | $-0.11 | — | ||
| Q3 25 | $-0.12 | $-0.41 | ||
| Q2 25 | $-0.09 | $-1.05 | ||
| Q1 25 | $-0.13 | $-1.31 | ||
| Q4 24 | $-0.13 | — | ||
| Q3 24 | $-0.10 | $-1.32 | ||
| Q2 24 | $0.07 | $-1.56 | ||
| Q1 24 | $-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 | $63.0M | $130.0M |
| Total DebtLower is stronger | $401.9M | $209.1M |
| Stockholders' EquityBook value | $534.9M | $-438.2M |
| Total Assets | $1.1B | $259.1M |
| Debt / EquityLower = less leverage | 0.75× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.0M | $130.0M | ||
| Q3 25 | $49.9M | $135.2M | ||
| Q2 25 | $49.2M | $149.6M | ||
| Q1 25 | $65.5M | $212.3M | ||
| Q4 24 | $76.1M | $297.3M | ||
| Q3 24 | $69.5M | $334.7M | ||
| Q2 24 | $65.1M | $276.2M | ||
| Q1 24 | $55.1M | — |
| Q4 25 | $401.9M | $209.1M | ||
| Q3 25 | $403.1M | $207.1M | ||
| Q2 25 | $403.1M | $205.1M | ||
| Q1 25 | $405.2M | $203.2M | ||
| Q4 24 | $406.4M | $201.4M | ||
| Q3 24 | $403.2M | $175.7M | ||
| Q2 24 | $396.1M | $174.4M | ||
| Q1 24 | $396.7M | — |
| Q4 25 | $534.9M | $-438.2M | ||
| Q3 25 | $537.8M | $-422.5M | ||
| Q2 25 | $539.0M | $-405.8M | ||
| Q1 25 | $544.1M | $-338.4M | ||
| Q4 24 | $548.1M | $-253.6M | ||
| Q3 24 | $564.3M | $-187.1M | ||
| Q2 24 | $566.2M | $-233.8M | ||
| Q1 24 | $560.0M | — |
| Q4 25 | $1.1B | $259.1M | ||
| Q3 25 | $1.1B | $240.3M | ||
| Q2 25 | $1.1B | $250.2M | ||
| Q1 25 | $1.1B | $294.2M | ||
| Q4 24 | $1.1B | $378.3M | ||
| Q3 24 | $1.1B | $387.0M | ||
| Q2 24 | $1.1B | $319.4M | ||
| Q1 24 | $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 | $19.5M | $-166.8M |
| Free Cash FlowOCF − Capex | — | $-167.0M |
| FCF MarginFCF / Revenue | — | -290.0% |
| Capex IntensityCapex / Revenue | — | 0.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-328.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $19.5M | $-166.8M | ||
| Q3 25 | $8.5M | $-14.1M | ||
| Q2 25 | $-3.6M | $-62.7M | ||
| Q1 25 | $-1.3M | $-84.9M | ||
| Q4 24 | $6.5M | $-266.8M | ||
| Q3 24 | $10.1M | $-63.6M | ||
| Q2 24 | $19.6M | $-70.7M | ||
| Q1 24 | $5.2M | — |
| Q4 25 | — | $-167.0M | ||
| Q3 25 | — | $-14.1M | ||
| Q2 25 | — | $-62.8M | ||
| Q1 25 | — | $-84.9M | ||
| Q4 24 | — | $-266.9M | ||
| Q3 24 | — | $-63.6M | ||
| Q2 24 | — | $-70.8M | ||
| Q1 24 | — | — |
| Q4 25 | — | -290.0% | ||
| Q3 25 | — | -28.6% | ||
| Q2 25 | — | -159.0% | ||
| Q1 25 | — | -297.9% | ||
| Q4 24 | — | -899.8% | ||
| Q3 24 | — | -389.0% | ||
| Q2 24 | — | -966.2% | ||
| Q1 24 | — | — |
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | — |
| 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
PACK
| Other | $47.9M | 51% |
| Europe And Asia Segment | $45.8M | 49% |
PHAT
Segment breakdown not available.
