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Side-by-side financial comparison of Ranpak Holdings Corp. (PACK) and STEM, INC. (STEM). Click either name above to swap in a different company.
Ranpak Holdings Corp. is the larger business by last-quarter revenue ($93.7M vs $47.1M, roughly 2.0× STEM, INC.). On growth, Ranpak Holdings Corp. posted the faster year-over-year revenue change (2.3% vs -15.6%). Over the past eight quarters, STEM, INC.'s revenue compounded faster (36.1% 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...
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
PACK vs STEM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $93.7M | $47.1M |
| Net Profit | — | $-16.0M |
| Gross Margin | 39.0% | 48.9% |
| Operating Margin | -1.0% | -17.7% |
| Net Margin | — | -33.9% |
| Revenue YoY | 2.3% | -15.6% |
| Net Profit YoY | — | 68.8% |
| EPS (diluted) | $-0.11 | $-4.40 |
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 | $47.1M | ||
| Q3 25 | $83.6M | $38.2M | ||
| Q2 25 | $77.8M | $38.4M | ||
| Q1 25 | $77.6M | $32.5M | ||
| Q4 24 | $91.6M | $55.8M | ||
| Q3 24 | $78.6M | $29.3M | ||
| Q2 24 | $72.8M | $34.0M | ||
| Q1 24 | $72.5M | $25.5M |
| Q4 25 | — | $-16.0M | ||
| Q3 25 | $-10.4M | $-23.8M | ||
| Q2 25 | $-7.5M | $202.5M | ||
| Q1 25 | $-10.9M | $-25.0M | ||
| Q4 24 | — | $-51.1M | ||
| Q3 24 | $-8.1M | $-148.3M | ||
| Q2 24 | $5.5M | $-582.3M | ||
| Q1 24 | $-8.1M | $-72.3M |
| Q4 25 | 39.0% | 48.9% | ||
| Q3 25 | 41.1% | 35.5% | ||
| Q2 25 | 37.1% | 33.4% | ||
| Q1 25 | 39.8% | 32.4% | ||
| Q4 24 | 45.2% | -4.4% | ||
| Q3 24 | 43.8% | 21.2% | ||
| Q2 24 | 43.5% | 27.6% | ||
| Q1 24 | 44.6% | -95.0% |
| Q4 25 | -1.0% | -17.7% | ||
| Q3 25 | -6.8% | -33.6% | ||
| Q2 25 | -12.5% | -34.8% | ||
| Q1 25 | -10.3% | -65.0% | ||
| Q4 24 | 1.5% | -84.4% | ||
| Q3 24 | -5.3% | -493.2% | ||
| Q2 24 | -7.1% | -1705.5% | ||
| Q1 24 | -6.6% | -267.0% |
| Q4 25 | — | -33.9% | ||
| Q3 25 | -12.4% | -62.2% | ||
| Q2 25 | -9.6% | 527.8% | ||
| Q1 25 | -14.0% | -76.9% | ||
| Q4 24 | — | -91.6% | ||
| Q3 24 | -10.3% | -506.3% | ||
| Q2 24 | 7.6% | -1712.6% | ||
| Q1 24 | -11.2% | -283.9% |
| Q4 25 | $-0.11 | $-4.40 | ||
| Q3 25 | $-0.12 | $-2.84 | ||
| Q2 25 | $-0.09 | $-1.79 | ||
| Q1 25 | $-0.13 | $-0.15 | ||
| Q4 24 | $-0.13 | $-15.29 | ||
| Q3 24 | $-0.10 | $-18.24 | ||
| Q2 24 | $0.07 | $-71.81 | ||
| 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 | $48.9M |
| Total DebtLower is stronger | $401.9M | — |
| Stockholders' EquityBook value | $534.9M | $-249.4M |
| Total Assets | $1.1B | $308.9M |
| Debt / EquityLower = less leverage | 0.75× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.0M | $48.9M | ||
| Q3 25 | $49.9M | $43.1M | ||
| Q2 25 | $49.2M | $40.8M | ||
| Q1 25 | $65.5M | $58.6M | ||
| Q4 24 | $76.1M | $56.3M | ||
| Q3 24 | $69.5M | $75.4M | ||
| Q2 24 | $65.1M | $89.6M | ||
| Q1 24 | $55.1M | $112.8M |
| Q4 25 | $401.9M | — | ||
| Q3 25 | $403.1M | — | ||
| Q2 25 | $403.1M | — | ||
| Q1 25 | $405.2M | — | ||
| Q4 24 | $406.4M | — | ||
| Q3 24 | $403.2M | — | ||
| Q2 24 | $396.1M | — | ||
| Q1 24 | $396.7M | — |
| Q4 25 | $534.9M | $-249.4M | ||
| Q3 25 | $537.8M | $-235.7M | ||
| Q2 25 | $539.0M | $-214.1M | ||
| Q1 25 | $544.1M | $-417.5M | ||
| Q4 24 | $548.1M | $-398.4M | ||
| Q3 24 | $564.3M | $-344.1M | ||
| Q2 24 | $566.2M | $-203.2M | ||
| Q1 24 | $560.0M | $371.6M |
| Q4 25 | $1.1B | $308.9M | ||
| Q3 25 | $1.1B | $362.6M | ||
| Q2 25 | $1.1B | $379.2M | ||
| Q1 25 | $1.1B | $405.1M | ||
| Q4 24 | $1.1B | $437.4M | ||
| Q3 24 | $1.1B | $537.8M | ||
| Q2 24 | $1.1B | $691.5M | ||
| Q1 24 | $1.1B | $1.3B |
| 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 | $8.2M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $19.5M | $8.2M | ||
| Q3 25 | $8.5M | $11.4M | ||
| Q2 25 | $-3.6M | $-21.3M | ||
| Q1 25 | $-1.3M | $8.5M | ||
| Q4 24 | $6.5M | $-14.7M | ||
| Q3 24 | $10.1M | $-9.4M | ||
| Q2 24 | $19.6M | $-11.9M | ||
| Q1 24 | $5.2M | $-621.0K |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.11× | ||
| 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% |
STEM
Segment breakdown not available.
