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Side-by-side financial comparison of Ranpak Holdings Corp. (PACK) and Velocity Financial, Inc. (VEL). Click either name above to swap in a different company.
Ranpak Holdings Corp. is the larger business by last-quarter revenue ($93.7M vs $51.6M, roughly 1.8× Velocity Financial, Inc.). On growth, Velocity Financial, Inc. posted the faster year-over-year revenue change (32.8% vs 2.3%). Over the past eight quarters, Velocity Financial, Inc.'s revenue compounded faster (32.3% 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...
Velocity Financial, Inc. is a U.S.-headquartered real estate finance company that offers specialized mortgage loan solutions primarily for residential investment properties. It partners with independent mortgage brokers nationwide, providing real estate investors with short-term bridge loans and long-term rental property financing options tailored to their operational needs.
PACK vs VEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $93.7M | $51.6M |
| Net Profit | — | $34.8M |
| Gross Margin | 39.0% | — |
| Operating Margin | -1.0% | 97.0% |
| Net Margin | — | 67.3% |
| Revenue YoY | 2.3% | 32.8% |
| Net Profit YoY | — | 67.0% |
| EPS (diluted) | $-0.11 | $0.90 |
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 | $51.6M | ||
| Q3 25 | $83.6M | $49.1M | ||
| Q2 25 | $77.8M | $47.6M | ||
| Q1 25 | $77.6M | $37.5M | ||
| Q4 24 | $91.6M | $38.9M | ||
| Q3 24 | $78.6M | $35.1M | ||
| Q2 24 | $72.8M | $32.4M | ||
| Q1 24 | $72.5M | $29.5M |
| Q4 25 | — | $34.8M | ||
| Q3 25 | $-10.4M | $25.4M | ||
| Q2 25 | $-7.5M | $26.0M | ||
| Q1 25 | $-10.9M | $18.9M | ||
| Q4 24 | — | $20.8M | ||
| Q3 24 | $-8.1M | $15.8M | ||
| Q2 24 | $5.5M | $14.8M | ||
| Q1 24 | $-8.1M | $17.3M |
| 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% | 97.0% | ||
| Q3 25 | -6.8% | 72.1% | ||
| Q2 25 | -12.5% | 71.3% | ||
| Q1 25 | -10.3% | 71.7% | ||
| Q4 24 | 1.5% | 82.5% | ||
| Q3 24 | -5.3% | 60.6% | ||
| Q2 24 | -7.1% | 61.3% | ||
| Q1 24 | -6.6% | 78.8% |
| Q4 25 | — | 67.3% | ||
| Q3 25 | -12.4% | 51.7% | ||
| Q2 25 | -9.6% | 54.6% | ||
| Q1 25 | -14.0% | 50.4% | ||
| Q4 24 | — | 53.5% | ||
| Q3 24 | -10.3% | 45.1% | ||
| Q2 24 | 7.6% | 45.6% | ||
| Q1 24 | -11.2% | 58.5% |
| Q4 25 | $-0.11 | $0.90 | ||
| Q3 25 | $-0.12 | $0.65 | ||
| Q2 25 | $-0.09 | $0.69 | ||
| Q1 25 | $-0.13 | $0.51 | ||
| Q4 24 | $-0.13 | $0.56 | ||
| Q3 24 | $-0.10 | $0.44 | ||
| Q2 24 | $0.07 | $0.42 | ||
| Q1 24 | $-0.10 | $0.49 |
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 | $92.1M |
| Total DebtLower is stronger | $401.9M | — |
| Stockholders' EquityBook value | $534.9M | $672.5M |
| Total Assets | $1.1B | $7.4B |
| Debt / EquityLower = less leverage | 0.75× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.0M | $92.1M | ||
| Q3 25 | $49.9M | $99.0M | ||
| Q2 25 | $49.2M | $79.6M | ||
| Q1 25 | $65.5M | $51.7M | ||
| Q4 24 | $76.1M | $49.9M | ||
| Q3 24 | $69.5M | $44.1M | ||
| Q2 24 | $65.1M | $47.4M | ||
| Q1 24 | $55.1M | $34.8M |
| 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 | $672.5M | ||
| Q3 25 | $537.8M | $634.3M | ||
| Q2 25 | $539.0M | $597.9M | ||
| Q1 25 | $544.1M | $563.2M | ||
| Q4 24 | $548.1M | $516.9M | ||
| Q3 24 | $564.3M | $484.6M | ||
| Q2 24 | $566.2M | $471.3M | ||
| Q1 24 | $560.0M | $452.9M |
| Q4 25 | $1.1B | $7.4B | ||
| Q3 25 | $1.1B | $7.0B | ||
| Q2 25 | $1.1B | $6.5B | ||
| Q1 25 | $1.1B | $6.0B | ||
| Q4 24 | $1.1B | $5.5B | ||
| Q3 24 | $1.1B | $5.2B | ||
| Q2 24 | $1.1B | $4.9B | ||
| Q1 24 | $1.1B | $4.6B |
| 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 | $18.2M |
| Free Cash FlowOCF − Capex | — | $17.9M |
| FCF MarginFCF / Revenue | — | 34.6% |
| Capex IntensityCapex / Revenue | — | 0.5% |
| Cash ConversionOCF / Net Profit | — | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | — | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $19.5M | $18.2M | ||
| Q3 25 | $8.5M | $11.5M | ||
| Q2 25 | $-3.6M | $7.7M | ||
| Q1 25 | $-1.3M | $3.5M | ||
| Q4 24 | $6.5M | $37.8M | ||
| Q3 24 | $10.1M | $-17.6M | ||
| Q2 24 | $19.6M | $11.5M | ||
| Q1 24 | $5.2M | $10.6M |
| Q4 25 | — | $17.9M | ||
| Q3 25 | — | $11.4M | ||
| Q2 25 | — | $7.6M | ||
| Q1 25 | — | $3.5M | ||
| Q4 24 | — | $37.5M | ||
| Q3 24 | — | $-17.6M | ||
| Q2 24 | — | $11.4M | ||
| Q1 24 | — | $10.5M |
| Q4 25 | — | 34.6% | ||
| Q3 25 | — | 23.2% | ||
| Q2 25 | — | 15.9% | ||
| Q1 25 | — | 9.2% | ||
| Q4 24 | — | 96.4% | ||
| Q3 24 | — | -50.3% | ||
| Q2 24 | — | 35.1% | ||
| Q1 24 | — | 35.8% |
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | — | 0.52× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | — | -1.11× | ||
| Q2 24 | 3.56× | 0.78× | ||
| Q1 24 | — | 0.61× |
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% |
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
