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Side-by-side financial comparison of Ranpak Holdings Corp. (PACK) and Vanda Pharmaceuticals Inc. (VNDA). Click either name above to swap in a different company.
Ranpak Holdings Corp. is the larger business by last-quarter revenue ($93.7M vs $57.2M, roughly 1.6× Vanda Pharmaceuticals Inc.). On growth, Vanda Pharmaceuticals Inc. posted the faster year-over-year revenue change (7.6% vs 2.3%). Over the past eight quarters, Ranpak Holdings Corp.'s revenue compounded faster (13.7% CAGR vs 9.8%).
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...
Vanda Pharmaceuticals Inc. is a biopharmaceutical company focused on developing and commercializing innovative therapies for central nervous system disorders. Its key marketed products cover indications including sleep-wake cycle disturbances and schizophrenia, with core operations and primary sales markets concentrated in North America, catering to patient groups with significant unmet medical needs.
PACK vs VNDA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $93.7M | $57.2M |
| Net Profit | — | $-141.2M |
| Gross Margin | 39.0% | — |
| Operating Margin | -1.0% | -70.5% |
| Net Margin | — | -246.8% |
| Revenue YoY | 2.3% | 7.6% |
| Net Profit YoY | — | -2774.3% |
| EPS (diluted) | $-0.11 | $-2.40 |
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 | $57.2M | ||
| Q3 25 | $83.6M | $56.3M | ||
| Q2 25 | $77.8M | $52.6M | ||
| Q1 25 | $77.6M | $50.0M | ||
| Q4 24 | $91.6M | $53.2M | ||
| Q3 24 | $78.6M | $47.7M | ||
| Q2 24 | $72.8M | $50.5M | ||
| Q1 24 | $72.5M | $47.5M |
| Q4 25 | — | $-141.2M | ||
| Q3 25 | $-10.4M | $-22.6M | ||
| Q2 25 | $-7.5M | $-27.2M | ||
| Q1 25 | $-10.9M | $-29.5M | ||
| Q4 24 | — | $-4.9M | ||
| Q3 24 | $-8.1M | $-5.3M | ||
| Q2 24 | $5.5M | $-4.5M | ||
| Q1 24 | $-8.1M | $-4.1M |
| 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% | -70.5% | ||
| Q3 25 | -6.8% | -55.6% | ||
| Q2 25 | -12.5% | -73.2% | ||
| Q1 25 | -10.3% | -82.0% | ||
| Q4 24 | 1.5% | -19.3% | ||
| Q3 24 | -5.3% | -23.1% | ||
| Q2 24 | -7.1% | -20.1% | ||
| Q1 24 | -6.6% | -19.5% |
| Q4 25 | — | -246.8% | ||
| Q3 25 | -12.4% | -40.1% | ||
| Q2 25 | -9.6% | -51.7% | ||
| Q1 25 | -14.0% | -58.9% | ||
| Q4 24 | — | -9.2% | ||
| Q3 24 | -10.3% | -11.2% | ||
| Q2 24 | 7.6% | -9.0% | ||
| Q1 24 | -11.2% | -8.7% |
| Q4 25 | $-0.11 | $-2.40 | ||
| Q3 25 | $-0.12 | $-0.38 | ||
| Q2 25 | $-0.09 | $-0.46 | ||
| Q1 25 | $-0.13 | $-0.50 | ||
| Q4 24 | $-0.13 | $-0.09 | ||
| Q3 24 | $-0.10 | $-0.09 | ||
| Q2 24 | $0.07 | $-0.08 | ||
| Q1 24 | $-0.10 | $-0.07 |
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 | $84.9M |
| Total DebtLower is stronger | $401.9M | — |
| Stockholders' EquityBook value | $534.9M | $327.2M |
| Total Assets | $1.1B | $488.9M |
| Debt / EquityLower = less leverage | 0.75× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.0M | $84.9M | ||
| Q3 25 | $49.9M | $70.0M | ||
| Q2 25 | $49.2M | $81.0M | ||
| Q1 25 | $65.5M | $111.8M | ||
| Q4 24 | $76.1M | $102.3M | ||
| Q3 24 | $69.5M | $100.5M | ||
| Q2 24 | $65.1M | $103.0M | ||
| Q1 24 | $55.1M | $125.2M |
| 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 | $327.2M | ||
| Q3 25 | $537.8M | $466.0M | ||
| Q2 25 | $539.0M | $486.3M | ||
| Q1 25 | $544.1M | $511.4M | ||
| Q4 24 | $548.1M | $538.5M | ||
| Q3 24 | $564.3M | $541.2M | ||
| Q2 24 | $566.2M | $542.5M | ||
| Q1 24 | $560.0M | $544.0M |
| Q4 25 | $1.1B | $488.9M | ||
| Q3 25 | $1.1B | $601.1M | ||
| Q2 25 | $1.1B | $624.7M | ||
| Q1 25 | $1.1B | $631.9M | ||
| Q4 24 | $1.1B | $656.2M | ||
| Q3 24 | $1.1B | $645.1M | ||
| Q2 24 | $1.1B | $651.4M | ||
| Q1 24 | $1.1B | $652.7M |
| 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 | $-29.4M |
| Free Cash FlowOCF − Capex | — | $-29.5M |
| FCF MarginFCF / Revenue | — | -51.6% |
| Capex IntensityCapex / Revenue | — | 0.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-110.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $19.5M | $-29.4M | ||
| Q3 25 | $8.5M | $-31.6M | ||
| Q2 25 | $-3.6M | $-15.3M | ||
| Q1 25 | $-1.3M | $-33.1M | ||
| Q4 24 | $6.5M | $-1.8M | ||
| Q3 24 | $10.1M | $-14.6M | ||
| Q2 24 | $19.6M | $-6.9M | ||
| Q1 24 | $5.2M | $7.6M |
| Q4 25 | — | $-29.5M | ||
| Q3 25 | — | $-31.8M | ||
| Q2 25 | — | $-15.6M | ||
| Q1 25 | — | $-33.6M | ||
| Q4 24 | — | $-2.0M | ||
| Q3 24 | — | $-14.7M | ||
| Q2 24 | — | $-7.0M | ||
| Q1 24 | — | $7.6M |
| Q4 25 | — | -51.6% | ||
| Q3 25 | — | -56.5% | ||
| Q2 25 | — | -29.6% | ||
| Q1 25 | — | -67.1% | ||
| Q4 24 | — | -3.8% | ||
| Q3 24 | — | -30.9% | ||
| Q2 24 | — | -13.9% | ||
| Q1 24 | — | 15.9% |
| Q4 25 | — | 0.2% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 0.2% | ||
| Q1 24 | — | 0.0% |
| 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% |
VNDA
| Fanapt | $33.2M | 58% |
| Hetlioz | $16.4M | 29% |
| PONVORY | $7.6M | 13% |
