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Side-by-side financial comparison of Ranpak Holdings Corp. (PACK) and Repay Holdings Corp (RPAY). Click either name above to swap in a different company.
Ranpak Holdings Corp. is the larger business by last-quarter revenue ($93.7M vs $78.6M, roughly 1.2× Repay 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 -1.3%).
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...
Repay Holdings Corp is a leading payment technology provider delivering integrated end-to-end payment processing solutions for businesses across North America. Its offerings include credit/debit card processing, ACH transfer services, POS system integrations and digital payment tools, serving retail, healthcare, automotive and e-commerce segments to help clients streamline transaction workflows and boost operational efficiency.
PACK vs RPAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $93.7M | $78.6M |
| Net Profit | — | $-140.1M |
| Gross Margin | 39.0% | 74.2% |
| Operating Margin | -1.0% | -182.2% |
| Net Margin | — | -178.3% |
| Revenue YoY | 2.3% | 0.4% |
| Net Profit YoY | — | -3304.1% |
| EPS (diluted) | $-0.11 | $-1.68 |
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 | $78.6M | ||
| Q3 25 | $83.6M | $77.7M | ||
| Q2 25 | $77.8M | $75.6M | ||
| Q1 25 | $77.6M | $77.3M | ||
| Q4 24 | $91.6M | $78.3M | ||
| Q3 24 | $78.6M | $79.1M | ||
| Q2 24 | $72.8M | $74.9M | ||
| Q1 24 | $72.5M | $80.7M |
| Q4 25 | — | $-140.1M | ||
| Q3 25 | $-10.4M | $-6.4M | ||
| Q2 25 | $-7.5M | $-102.3M | ||
| Q1 25 | $-10.9M | $-7.9M | ||
| Q4 24 | — | $-4.1M | ||
| Q3 24 | $-8.1M | $3.2M | ||
| Q2 24 | $5.5M | $-4.1M | ||
| Q1 24 | $-8.1M | $-5.2M |
| Q4 25 | 39.0% | 74.2% | ||
| Q3 25 | 41.1% | 74.4% | ||
| Q2 25 | 37.1% | 75.7% | ||
| Q1 25 | 39.8% | 75.9% | ||
| Q4 24 | 45.2% | 76.3% | ||
| Q3 24 | 43.8% | 77.8% | ||
| Q2 24 | 43.5% | 78.2% | ||
| Q1 24 | 44.6% | 76.2% |
| Q4 25 | -1.0% | -182.2% | ||
| Q3 25 | -6.8% | -3.9% | ||
| Q2 25 | -12.5% | -138.7% | ||
| Q1 25 | -10.3% | -4.7% | ||
| Q4 24 | 1.5% | -1.5% | ||
| Q3 24 | -5.3% | -0.9% | ||
| Q2 24 | -7.1% | -4.6% | ||
| Q1 24 | -6.6% | -3.1% |
| Q4 25 | — | -178.3% | ||
| Q3 25 | -12.4% | -8.3% | ||
| Q2 25 | -9.6% | -135.2% | ||
| Q1 25 | -14.0% | -10.3% | ||
| Q4 24 | — | -5.3% | ||
| Q3 24 | -10.3% | 4.1% | ||
| Q2 24 | 7.6% | -5.4% | ||
| Q1 24 | -11.2% | -6.5% |
| Q4 25 | $-0.11 | $-1.68 | ||
| Q3 25 | $-0.12 | $-0.08 | ||
| Q2 25 | $-0.09 | $-1.15 | ||
| Q1 25 | $-0.13 | $-0.09 | ||
| Q4 24 | $-0.13 | $-0.04 | ||
| Q3 24 | $-0.10 | $0.03 | ||
| Q2 24 | $0.07 | $-0.04 | ||
| Q1 24 | $-0.10 | $-0.06 |
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 | $115.7M |
| Total DebtLower is stronger | $401.9M | $280.1M |
| Stockholders' EquityBook value | $534.9M | $484.4M |
| Total Assets | $1.1B | $1.2B |
| Debt / EquityLower = less leverage | 0.75× | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.0M | $115.7M | ||
| Q3 25 | $49.9M | $95.7M | ||
| Q2 25 | $49.2M | $162.6M | ||
| Q1 25 | $65.5M | $165.5M | ||
| Q4 24 | $76.1M | $189.5M | ||
| Q3 24 | $69.5M | $168.7M | ||
| Q2 24 | $65.1M | $147.1M | ||
| Q1 24 | $55.1M | $128.3M |
| Q4 25 | $401.9M | $280.1M | ||
| Q3 25 | $403.1M | $279.5M | ||
| Q2 25 | $403.1M | $279.0M | ||
| Q1 25 | $405.2M | $497.6M | ||
| Q4 24 | $406.4M | $496.8M | ||
| Q3 24 | $403.2M | $496.2M | ||
| Q2 24 | $396.1M | $435.6M | ||
| Q1 24 | $396.7M | $434.9M |
| Q4 25 | $534.9M | $484.4M | ||
| Q3 25 | $537.8M | $616.9M | ||
| Q2 25 | $539.0M | $633.7M | ||
| Q1 25 | $544.1M | $755.7M | ||
| Q4 24 | $548.1M | $761.3M | ||
| Q3 24 | $564.3M | $754.7M | ||
| Q2 24 | $566.2M | $815.4M | ||
| Q1 24 | $560.0M | $813.8M |
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $1.1B | $1.4B | ||
| Q1 25 | $1.1B | $1.5B | ||
| Q4 24 | $1.1B | $1.6B | ||
| Q3 24 | $1.1B | $1.6B | ||
| Q2 24 | $1.1B | $1.5B | ||
| Q1 24 | $1.1B | $1.5B |
| Q4 25 | 0.75× | 0.58× | ||
| Q3 25 | 0.75× | 0.45× | ||
| Q2 25 | 0.75× | 0.44× | ||
| Q1 25 | 0.74× | 0.66× | ||
| Q4 24 | 0.74× | 0.65× | ||
| Q3 24 | 0.71× | 0.66× | ||
| Q2 24 | 0.70× | 0.53× | ||
| Q1 24 | 0.71× | 0.53× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | — | $23.2M |
| FCF MarginFCF / Revenue | — | 29.6% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $90.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $19.5M | $23.3M | ||
| Q3 25 | $8.5M | $32.2M | ||
| Q2 25 | $-3.6M | $33.1M | ||
| Q1 25 | $-1.3M | $2.5M | ||
| Q4 24 | $6.5M | $34.3M | ||
| Q3 24 | $10.1M | $60.1M | ||
| Q2 24 | $19.6M | $31.0M | ||
| Q1 24 | $5.2M | $24.8M |
| Q4 25 | — | $23.2M | ||
| Q3 25 | — | $32.1M | ||
| Q2 25 | — | $33.0M | ||
| Q1 25 | — | $2.4M | ||
| Q4 24 | — | $34.0M | ||
| Q3 24 | — | $59.8M | ||
| Q2 24 | — | $30.5M | ||
| Q1 24 | — | $24.7M |
| Q4 25 | — | 29.6% | ||
| Q3 25 | — | 41.3% | ||
| Q2 25 | — | 43.6% | ||
| Q1 25 | — | 3.0% | ||
| Q4 24 | — | 43.5% | ||
| Q3 24 | — | 75.6% | ||
| Q2 24 | — | 40.7% | ||
| Q1 24 | — | 30.6% |
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 18.52× | ||
| 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% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
