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Side-by-side financial comparison of Ranpak Holdings Corp. (PACK) and P10, Inc. (PX). Click either name above to swap in a different company.
Ranpak Holdings Corp. is the larger business by last-quarter revenue ($93.7M vs $81.0M, roughly 1.2× P10, Inc.). On growth, Ranpak Holdings Corp. posted the faster year-over-year revenue change (2.3% vs -4.7%). Over the past eight quarters, Ranpak Holdings Corp.'s revenue compounded faster (13.7% CAGR vs 10.7%).
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...
P10, Inc. is a global alternative investment management firm that offers a diversified portfolio of investment solutions spanning private equity, private credit, real assets and venture capital. It primarily caters to institutional clients including pension funds, endowments, foundations, and high-net-worth individuals across North America, Europe, and Asia Pacific.
PACK vs PX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $93.7M | $81.0M |
| Net Profit | — | $9.5M |
| Gross Margin | 39.0% | — |
| Operating Margin | -1.0% | 31.9% |
| Net Margin | — | 11.7% |
| Revenue YoY | 2.3% | -4.7% |
| Net Profit YoY | — | 79.0% |
| EPS (diluted) | $-0.11 | $0.08 |
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 | $81.0M | ||
| Q3 25 | $83.6M | $75.9M | ||
| Q2 25 | $77.8M | $72.7M | ||
| Q1 25 | $77.6M | $67.7M | ||
| Q4 24 | $91.6M | $85.0M | ||
| Q3 24 | $78.6M | $74.2M | ||
| Q2 24 | $72.8M | $71.1M | ||
| Q1 24 | $72.5M | $66.1M |
| Q4 25 | — | $9.5M | ||
| Q3 25 | $-10.4M | $2.1M | ||
| Q2 25 | $-7.5M | $3.4M | ||
| Q1 25 | $-10.9M | $4.5M | ||
| Q4 24 | — | $5.3M | ||
| Q3 24 | $-8.1M | $1.4M | ||
| Q2 24 | $5.5M | $7.0M | ||
| Q1 24 | $-8.1M | $5.0M |
| 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 24 | 44.6% | — |
| Q4 25 | -1.0% | 31.9% | ||
| Q3 25 | -6.8% | 14.1% | ||
| Q2 25 | -12.5% | 24.4% | ||
| Q1 25 | -10.3% | 16.6% | ||
| Q4 24 | 1.5% | 26.9% | ||
| Q3 24 | -5.3% | 11.9% | ||
| Q2 24 | -7.1% | 23.7% | ||
| Q1 24 | -6.6% | 18.3% |
| Q4 25 | — | 11.7% | ||
| Q3 25 | -12.4% | 2.8% | ||
| Q2 25 | -9.6% | 4.7% | ||
| Q1 25 | -14.0% | 6.7% | ||
| Q4 24 | — | 6.2% | ||
| Q3 24 | -10.3% | 1.9% | ||
| Q2 24 | 7.6% | 9.8% | ||
| Q1 24 | -11.2% | 7.6% |
| Q4 25 | $-0.11 | $0.08 | ||
| Q3 25 | $-0.12 | $0.02 | ||
| Q2 25 | $-0.09 | $0.03 | ||
| Q1 25 | $-0.13 | $0.04 | ||
| Q4 24 | $-0.13 | $0.05 | ||
| Q3 24 | $-0.10 | $0.01 | ||
| Q2 24 | $0.07 | $0.06 | ||
| Q1 24 | $-0.10 | $0.04 |
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 | $28.2M |
| Total DebtLower is stronger | $401.9M | $373.2M |
| Stockholders' EquityBook value | $534.9M | $403.5M |
| Total Assets | $1.1B | $928.3M |
| Debt / EquityLower = less leverage | 0.75× | 0.93× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.0M | $28.2M | ||
| Q3 25 | $49.9M | $40.0M | ||
| Q2 25 | $49.2M | $33.4M | ||
| Q1 25 | $65.5M | $74.4M | ||
| Q4 24 | $76.1M | $67.5M | ||
| Q3 24 | $69.5M | $61.5M | ||
| Q2 24 | $65.1M | $31.2M | ||
| Q1 24 | $55.1M | $29.0M |
| Q4 25 | $401.9M | $373.2M | ||
| Q3 25 | $403.1M | $393.4M | ||
| Q2 25 | $403.1M | $373.0M | ||
| Q1 25 | $405.2M | $357.2M | ||
| Q4 24 | $406.4M | $319.8M | ||
| Q3 24 | $403.2M | $319.4M | ||
| Q2 24 | $396.1M | $300.6M | ||
| Q1 24 | $396.7M | $314.0M |
| Q4 25 | $534.9M | $403.5M | ||
| Q3 25 | $537.8M | $396.8M | ||
| Q2 25 | $539.0M | $388.9M | ||
| Q1 25 | $544.1M | $374.3M | ||
| Q4 24 | $548.1M | $386.9M | ||
| Q3 24 | $564.3M | $394.1M | ||
| Q2 24 | $566.2M | $396.9M | ||
| Q1 24 | $560.0M | $400.1M |
| Q4 25 | $1.1B | $928.3M | ||
| Q3 25 | $1.1B | $936.0M | ||
| Q2 25 | $1.1B | $932.2M | ||
| Q1 25 | $1.1B | $877.4M | ||
| Q4 24 | $1.1B | $869.3M | ||
| Q3 24 | $1.1B | $857.0M | ||
| Q2 24 | $1.1B | $823.2M | ||
| Q1 24 | $1.1B | $832.8M |
| Q4 25 | 0.75× | 0.93× | ||
| Q3 25 | 0.75× | 0.99× | ||
| Q2 25 | 0.75× | 0.96× | ||
| Q1 25 | 0.74× | 0.95× | ||
| Q4 24 | 0.74× | 0.83× | ||
| Q3 24 | 0.71× | 0.81× | ||
| Q2 24 | 0.70× | 0.76× | ||
| Q1 24 | 0.71× | 0.78× |
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 | $23.0M |
| Free Cash FlowOCF − Capex | — | $18.1M |
| FCF MarginFCF / Revenue | — | 22.3% |
| Capex IntensityCapex / Revenue | — | 6.0% |
| Cash ConversionOCF / Net Profit | — | 2.43× |
| TTM Free Cash FlowTrailing 4 quarters | — | $14.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $19.5M | $23.0M | ||
| Q3 25 | $8.5M | $-8.6M | ||
| Q2 25 | $-3.6M | $13.4M | ||
| Q1 25 | $-1.3M | $-4.7M | ||
| Q4 24 | $6.5M | $101.0M | ||
| Q3 24 | $10.1M | $27.5M | ||
| Q2 24 | $19.6M | $34.8M | ||
| Q1 24 | $5.2M | $11.0M |
| Q4 25 | — | $18.1M | ||
| Q3 25 | — | $-9.5M | ||
| Q2 25 | — | $11.6M | ||
| Q1 25 | — | $-6.0M | ||
| Q4 24 | — | $96.6M | ||
| Q3 24 | — | $25.2M | ||
| Q2 24 | — | $33.9M | ||
| Q1 24 | — | $10.7M |
| Q4 25 | — | 22.3% | ||
| Q3 25 | — | -12.6% | ||
| Q2 25 | — | 15.9% | ||
| Q1 25 | — | -8.9% | ||
| Q4 24 | — | 113.6% | ||
| Q3 24 | — | 34.0% | ||
| Q2 24 | — | 47.7% | ||
| Q1 24 | — | 16.2% |
| Q4 25 | — | 6.0% | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | — | 2.5% | ||
| Q1 25 | — | 1.9% | ||
| Q4 24 | — | 5.2% | ||
| Q3 24 | — | 3.0% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | — | 0.4% |
| Q4 25 | — | 2.43× | ||
| Q3 25 | — | -4.01× | ||
| Q2 25 | — | 3.96× | ||
| Q1 25 | — | -1.05× | ||
| Q4 24 | — | 19.12× | ||
| Q3 24 | — | 19.54× | ||
| Q2 24 | 3.56× | 4.98× | ||
| Q1 24 | — | 2.18× |
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% |
PX
| Management Fees | $78.1M | 96% |
| Advisory Fees | $1.8M | 2% |
