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Side-by-side financial comparison of Ranpak Holdings Corp. (PACK) and Terreno Realty Corp (TRNO). Click either name above to swap in a different company.
Terreno Realty Corp is the larger business by last-quarter revenue ($137.5M vs $93.7M, roughly 1.5× Ranpak Holdings Corp.). On growth, Terreno Realty Corp posted the faster year-over-year revenue change (32.6% vs 2.3%). Over the past eight quarters, Terreno Realty Corp's revenue compounded faster (27.2% 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...
Terreno Realty Corp is a publicly traded real estate investment trust that specializes in owning, operating, and acquiring high-quality industrial real estate assets. Its portfolio mainly includes distribution warehouses and logistics facilities located in high-demand coastal U.S. metropolitan markets, serving tenants across e-commerce, last-mile delivery, retail supply chain, and light manufacturing segments.
PACK vs TRNO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $93.7M | $137.5M |
| Net Profit | — | $158.2M |
| Gross Margin | 39.0% | — |
| Operating Margin | -1.0% | — |
| Net Margin | — | 115.1% |
| Revenue YoY | 2.3% | 32.6% |
| Net Profit YoY | — | 107.9% |
| EPS (diluted) | $-0.11 | $1.54 |
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 | $137.5M | ||
| Q3 25 | $83.6M | $116.2M | ||
| Q2 25 | $77.8M | $112.2M | ||
| Q1 25 | $77.6M | $110.4M | ||
| Q4 24 | $91.6M | $103.7M | ||
| Q3 24 | $78.6M | $99.6M | ||
| Q2 24 | $72.8M | $94.2M | ||
| Q1 24 | $72.5M | $85.0M |
| Q4 25 | — | $158.2M | ||
| Q3 25 | $-10.4M | $103.4M | ||
| Q2 25 | $-7.5M | $93.3M | ||
| Q1 25 | $-10.9M | $48.1M | ||
| Q4 24 | — | $76.1M | ||
| Q3 24 | $-8.1M | $36.6M | ||
| Q2 24 | $5.5M | $35.7M | ||
| Q1 24 | $-8.1M | $36.1M |
| 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% | — | ||
| Q3 25 | -6.8% | — | ||
| Q2 25 | -12.5% | — | ||
| Q1 25 | -10.3% | — | ||
| Q4 24 | 1.5% | — | ||
| Q3 24 | -5.3% | — | ||
| Q2 24 | -7.1% | — | ||
| Q1 24 | -6.6% | — |
| Q4 25 | — | 115.1% | ||
| Q3 25 | -12.4% | 88.9% | ||
| Q2 25 | -9.6% | 83.1% | ||
| Q1 25 | -14.0% | 43.6% | ||
| Q4 24 | — | 73.4% | ||
| Q3 24 | -10.3% | 36.8% | ||
| Q2 24 | 7.6% | 37.9% | ||
| Q1 24 | -11.2% | 42.4% |
| Q4 25 | $-0.11 | $1.54 | ||
| Q3 25 | $-0.12 | $1.00 | ||
| Q2 25 | $-0.09 | $0.90 | ||
| Q1 25 | $-0.13 | $0.47 | ||
| Q4 24 | $-0.13 | $0.78 | ||
| Q3 24 | $-0.10 | $0.37 | ||
| Q2 24 | $0.07 | $0.37 | ||
| Q1 24 | $-0.10 | $0.40 |
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 | $25.0M |
| Total DebtLower is stronger | $401.9M | $943.3M |
| Stockholders' EquityBook value | $534.9M | $4.1B |
| Total Assets | $1.1B | $5.4B |
| Debt / EquityLower = less leverage | 0.75× | 0.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.0M | $25.0M | ||
| Q3 25 | $49.9M | $26.2M | ||
| Q2 25 | $49.2M | $128.4M | ||
| Q1 25 | $65.5M | $156.5M | ||
| Q4 24 | $76.1M | $18.1M | ||
| Q3 24 | $69.5M | $243.7M | ||
| Q2 24 | $65.1M | $182.0M | ||
| Q1 24 | $55.1M | $649.6M |
| Q4 25 | $401.9M | $943.3M | ||
| Q3 25 | $403.1M | $1.0B | ||
| Q2 25 | $403.1M | $742.4M | ||
| Q1 25 | $405.2M | $741.9M | ||
| Q4 24 | $406.4M | $823.4M | ||
| Q3 24 | $403.2M | $672.2M | ||
| Q2 24 | $396.1M | $772.0M | ||
| Q1 24 | $396.7M | $771.8M |
| Q4 25 | $534.9M | $4.1B | ||
| Q3 25 | $537.8M | $4.0B | ||
| Q2 25 | $539.0M | $3.9B | ||
| Q1 25 | $544.1M | $3.9B | ||
| Q4 24 | $548.1M | $3.7B | ||
| Q3 24 | $564.3M | $3.6B | ||
| Q2 24 | $566.2M | $3.4B | ||
| Q1 24 | $560.0M | $3.4B |
| Q4 25 | $1.1B | $5.4B | ||
| Q3 25 | $1.1B | $5.3B | ||
| Q2 25 | $1.1B | $5.0B | ||
| Q1 25 | $1.1B | $4.9B | ||
| Q4 24 | $1.1B | $4.8B | ||
| Q3 24 | $1.1B | $4.6B | ||
| Q2 24 | $1.1B | $4.5B | ||
| Q1 24 | $1.1B | $4.4B |
| Q4 25 | 0.75× | 0.23× | ||
| Q3 25 | 0.75× | 0.26× | ||
| Q2 25 | 0.75× | 0.19× | ||
| Q1 25 | 0.74× | 0.19× | ||
| Q4 24 | 0.74× | 0.22× | ||
| Q3 24 | 0.71× | 0.19× | ||
| Q2 24 | 0.70× | 0.22× | ||
| Q1 24 | 0.71× | 0.22× |
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 | $271.9M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $19.5M | $271.9M | ||
| Q3 25 | $8.5M | $79.5M | ||
| Q2 25 | $-3.6M | $60.6M | ||
| Q1 25 | $-1.3M | $61.4M | ||
| Q4 24 | $6.5M | $232.7M | ||
| Q3 24 | $10.1M | $70.0M | ||
| Q2 24 | $19.6M | $64.3M | ||
| Q1 24 | $5.2M | $47.0M |
| Q4 25 | — | 1.72× | ||
| Q3 25 | — | 0.77× | ||
| Q2 25 | — | 0.65× | ||
| Q1 25 | — | 1.28× | ||
| Q4 24 | — | 3.06× | ||
| Q3 24 | — | 1.91× | ||
| Q2 24 | 3.56× | 1.80× | ||
| Q1 24 | — | 1.30× |
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% |
TRNO
| Disposal Group Disposed Of By Sale Not Discontinued Operations | $109.5M | 80% |
| Other | $23.8M | 17% |
| At Market Equity Offering Program500Million | $4.1M | 3% |
