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Side-by-side financial comparison of Ranpak Holdings Corp. (PACK) and CPI Card Group Inc. (PMTS). Click either name above to swap in a different company.
CPI Card Group Inc. is the larger business by last-quarter revenue ($153.1M vs $93.7M, roughly 1.6× Ranpak Holdings Corp.). On growth, CPI Card Group Inc. posted the faster year-over-year revenue change (22.3% vs 2.3%). Over the past eight quarters, CPI Card Group Inc.'s revenue compounded faster (16.9% CAGR vs 13.7%).
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...
CPI Card Group Inc. is a leading provider of payment card production and associated solutions, including contactless and contact credit/debit cards, prepaid cards, and card personalization services. It primarily serves financial institutions, fintech firms, and retail brands across its core North American market.
PACK vs PMTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $93.7M | $153.1M |
| Net Profit | — | $7.3M |
| Gross Margin | 39.0% | 31.5% |
| Operating Margin | -1.0% | 12.0% |
| Net Margin | — | 4.8% |
| Revenue YoY | 2.3% | 22.3% |
| Net Profit YoY | — | 8.5% |
| EPS (diluted) | $-0.11 | $0.62 |
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 | $153.1M | ||
| Q3 25 | $83.6M | $138.0M | ||
| Q2 25 | $77.8M | $129.8M | ||
| Q1 25 | $77.6M | $122.8M | ||
| Q4 24 | $91.6M | $125.1M | ||
| Q3 24 | $78.6M | $124.8M | ||
| Q2 24 | $72.8M | $118.8M | ||
| Q1 24 | $72.5M | $111.9M |
| Q4 25 | — | $7.3M | ||
| Q3 25 | $-10.4M | $2.3M | ||
| Q2 25 | $-7.5M | $518.0K | ||
| Q1 25 | $-10.9M | $4.8M | ||
| Q4 24 | — | $6.8M | ||
| Q3 24 | $-8.1M | $1.3M | ||
| Q2 24 | $5.5M | $6.0M | ||
| Q1 24 | $-8.1M | $5.5M |
| Q4 25 | 39.0% | 31.5% | ||
| Q3 25 | 41.1% | 29.7% | ||
| Q2 25 | 37.1% | 30.9% | ||
| Q1 25 | 39.8% | 33.2% | ||
| Q4 24 | 45.2% | 34.1% | ||
| Q3 24 | 43.8% | 35.8% | ||
| Q2 24 | 43.5% | 35.7% | ||
| Q1 24 | 44.6% | 37.1% |
| Q4 25 | -1.0% | 12.0% | ||
| Q3 25 | -6.8% | 9.4% | ||
| Q2 25 | -12.5% | 7.3% | ||
| Q1 25 | -10.3% | 11.5% | ||
| Q4 24 | 1.5% | 12.7% | ||
| Q3 24 | -5.3% | 14.3% | ||
| Q2 24 | -7.1% | 12.5% | ||
| Q1 24 | -6.6% | 12.6% |
| Q4 25 | — | 4.8% | ||
| Q3 25 | -12.4% | 1.7% | ||
| Q2 25 | -9.6% | 0.4% | ||
| Q1 25 | -14.0% | 3.9% | ||
| Q4 24 | — | 5.4% | ||
| Q3 24 | -10.3% | 1.0% | ||
| Q2 24 | 7.6% | 5.1% | ||
| Q1 24 | -11.2% | 4.9% |
| Q4 25 | $-0.11 | $0.62 | ||
| Q3 25 | $-0.12 | $0.19 | ||
| Q2 25 | $-0.09 | $0.04 | ||
| Q1 25 | $-0.13 | $0.40 | ||
| Q4 24 | $-0.13 | $0.56 | ||
| Q3 24 | $-0.10 | $0.11 | ||
| Q2 24 | $0.07 | $0.51 | ||
| Q1 24 | $-0.10 | $0.46 |
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 | $21.7M |
| Total DebtLower is stronger | $401.9M | $286.7M |
| Stockholders' EquityBook value | $534.9M | $-17.3M |
| Total Assets | $1.1B | $403.2M |
| Debt / EquityLower = less leverage | 0.75× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.0M | $21.7M | ||
| Q3 25 | $49.9M | $16.0M | ||
| Q2 25 | $49.2M | $17.1M | ||
| Q1 25 | $65.5M | $31.5M | ||
| Q4 24 | $76.1M | $33.5M | ||
| Q3 24 | $69.5M | $14.7M | ||
| Q2 24 | $65.1M | $7.5M | ||
| Q1 24 | $55.1M | $17.1M |
| Q4 25 | $401.9M | $286.7M | ||
| Q3 25 | $403.1M | $308.4M | ||
| Q2 25 | $403.1M | $310.9M | ||
| Q1 25 | $405.2M | $280.7M | ||
| Q4 24 | $406.4M | $280.4M | ||
| Q3 24 | $403.2M | $280.2M | ||
| Q2 24 | $396.1M | $269.7M | ||
| Q1 24 | $396.7M | $265.3M |
| Q4 25 | $534.9M | $-17.3M | ||
| Q3 25 | $537.8M | $-25.7M | ||
| Q2 25 | $539.0M | $-29.0M | ||
| Q1 25 | $544.1M | $-29.7M | ||
| Q4 24 | $548.1M | $-35.6M | ||
| Q3 24 | $564.3M | $-42.8M | ||
| Q2 24 | $566.2M | $-44.6M | ||
| Q1 24 | $560.0M | $-48.5M |
| Q4 25 | $1.1B | $403.2M | ||
| Q3 25 | $1.1B | $407.1M | ||
| Q2 25 | $1.1B | $399.8M | ||
| Q1 25 | $1.1B | $351.9M | ||
| Q4 24 | $1.1B | $349.7M | ||
| Q3 24 | $1.1B | $342.3M | ||
| Q2 24 | $1.1B | $321.4M | ||
| Q1 24 | $1.1B | $319.8M |
| 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 | $39.6M |
| Free Cash FlowOCF − Capex | — | $35.2M |
| FCF MarginFCF / Revenue | — | 23.0% |
| Capex IntensityCapex / Revenue | — | 2.9% |
| Cash ConversionOCF / Net Profit | — | 5.39× |
| TTM Free Cash FlowTrailing 4 quarters | — | $41.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $19.5M | $39.6M | ||
| Q3 25 | $8.5M | $10.0M | ||
| Q2 25 | $-3.6M | $4.3M | ||
| Q1 25 | $-1.3M | $5.6M | ||
| Q4 24 | $6.5M | $26.7M | ||
| Q3 24 | $10.1M | $12.5M | ||
| Q2 24 | $19.6M | $-4.8M | ||
| Q1 24 | $5.2M | $8.9M |
| Q4 25 | — | $35.2M | ||
| Q3 25 | — | $5.3M | ||
| Q2 25 | — | $533.0K | ||
| Q1 25 | — | $292.0K | ||
| Q4 24 | — | $21.6M | ||
| Q3 24 | — | $11.1M | ||
| Q2 24 | — | $-6.0M | ||
| Q1 24 | — | $7.4M |
| Q4 25 | — | 23.0% | ||
| Q3 25 | — | 3.8% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 17.3% | ||
| Q3 24 | — | 8.9% | ||
| Q2 24 | — | -5.0% | ||
| Q1 24 | — | 6.6% |
| Q4 25 | — | 2.9% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | — | 2.9% | ||
| Q1 25 | — | 4.3% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 1.0% | ||
| Q1 24 | — | 1.3% |
| Q4 25 | — | 5.39× | ||
| Q3 25 | — | 4.32× | ||
| Q2 25 | — | 8.39× | ||
| Q1 25 | — | 1.17× | ||
| Q4 24 | — | 3.94× | ||
| Q3 24 | — | 9.70× | ||
| Q2 24 | 3.56× | -0.79× | ||
| Q1 24 | — | 1.63× |
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% |
PMTS
| US Debit And Credit | $128.9M | 84% |
| US Prepaid Debit | $24.4M | 16% |
