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Side-by-side financial comparison of Ranpak Holdings Corp. (PACK) and Twist Bioscience Corp (TWST). Click either name above to swap in a different company.
Twist Bioscience Corp is the larger business by last-quarter revenue ($103.7M vs $93.7M, roughly 1.1× Ranpak Holdings Corp.). On growth, Twist Bioscience Corp posted the faster year-over-year revenue change (16.9% vs 2.3%).
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...
Twist Bioscience is a public biotechnology company based in South San Francisco that manufactures synthetic DNA and DNA products for customers in a wide range of industries. Twist was founded in 2013 by Emily Leproust, Bill Banyai, and Bill Peck.
PACK vs TWST — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $93.7M | $103.7M |
| Net Profit | — | $-30.5M |
| Gross Margin | 39.0% | 52.0% |
| Operating Margin | -1.0% | -31.7% |
| Net Margin | — | -29.4% |
| Revenue YoY | 2.3% | 16.9% |
| Net Profit YoY | — | 3.4% |
| EPS (diluted) | $-0.11 | $-0.50 |
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 | $103.7M | ||
| Q3 25 | $83.6M | — | ||
| Q2 25 | $77.8M | — | ||
| Q1 25 | $77.6M | — | ||
| Q4 24 | $91.6M | — | ||
| Q3 24 | $78.6M | — | ||
| Q2 24 | $72.8M | — | ||
| Q1 24 | $72.5M | — |
| Q4 25 | — | $-30.5M | ||
| Q3 25 | $-10.4M | — | ||
| Q2 25 | $-7.5M | — | ||
| Q1 25 | $-10.9M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-8.1M | — | ||
| Q2 24 | $5.5M | — | ||
| Q1 24 | $-8.1M | — |
| Q4 25 | 39.0% | 52.0% | ||
| 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% | -31.7% | ||
| 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 | — | -29.4% | ||
| Q3 25 | -12.4% | — | ||
| Q2 25 | -9.6% | — | ||
| Q1 25 | -14.0% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -10.3% | — | ||
| Q2 24 | 7.6% | — | ||
| Q1 24 | -11.2% | — |
| Q4 25 | $-0.11 | $-0.50 | ||
| Q3 25 | $-0.12 | — | ||
| Q2 25 | $-0.09 | — | ||
| Q1 25 | $-0.13 | — | ||
| Q4 24 | $-0.13 | — | ||
| Q3 24 | $-0.10 | — | ||
| Q2 24 | $0.07 | — | ||
| Q1 24 | $-0.10 | — |
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 | $197.9M |
| Total DebtLower is stronger | $401.9M | — |
| Stockholders' EquityBook value | $534.9M | $456.1M |
| Total Assets | $1.1B | $638.1M |
| Debt / EquityLower = less leverage | 0.75× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.0M | $197.9M | ||
| Q3 25 | $49.9M | — | ||
| Q2 25 | $49.2M | — | ||
| Q1 25 | $65.5M | — | ||
| Q4 24 | $76.1M | — | ||
| Q3 24 | $69.5M | — | ||
| Q2 24 | $65.1M | — | ||
| Q1 24 | $55.1M | — |
| 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 | $456.1M | ||
| Q3 25 | $537.8M | — | ||
| Q2 25 | $539.0M | — | ||
| Q1 25 | $544.1M | — | ||
| Q4 24 | $548.1M | — | ||
| Q3 24 | $564.3M | — | ||
| Q2 24 | $566.2M | — | ||
| Q1 24 | $560.0M | — |
| Q4 25 | $1.1B | $638.1M | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.1B | — |
| 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 | $-24.8M |
| Free Cash FlowOCF − Capex | — | $-34.8M |
| FCF MarginFCF / Revenue | — | -33.5% |
| Capex IntensityCapex / Revenue | — | 9.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $19.5M | $-24.8M | ||
| Q3 25 | $8.5M | — | ||
| Q2 25 | $-3.6M | — | ||
| Q1 25 | $-1.3M | — | ||
| Q4 24 | $6.5M | — | ||
| Q3 24 | $10.1M | — | ||
| Q2 24 | $19.6M | — | ||
| Q1 24 | $5.2M | — |
| Q4 25 | — | $-34.8M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | -33.5% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 9.6% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| 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% |
TWST
| Industrial Chemicals | $37.2M | 36% |
| Diagnostics | $35.3M | 34% |
| Food Or Agriculture | $12.8M | 12% |
| Academic Research | $12.2M | 12% |
| Health Care | $6.1M | 6% |
