vs
Ranpak Holdings Corp.（PACK）与Target Hospitality Corp.（TH）财务数据对比。点击上方公司名可切换其他公司
Ranpak Holdings Corp.的季度营收约是Target Hospitality Corp.的1.3倍（$93.7M vs $73.5M），Target Hospitality Corp.同比增速更快（22.0% vs 2.3%），过去两年Ranpak Holdings Corp.的营收复合增速更高（13.7% vs 0.7%）
Ranpak Holdings Corp.主营生产防护纸质包装设备与纸制品，可为电商及各行业货品运输提供纸质缓冲包装方案，同时也供应自动化包装解决方案。公司总部位于美国俄亥俄州康科德，在美国本土多个州、捷克、荷兰、中国上海及新加坡均设有生产基地与办公室，产品可用于包裹缠绕、缓冲填隙、冷链运输等多种场景。
Target Hospitality是一家专业住宿服务提供商，主营石油、天然气及矿业项目用工住宿，也提供大型活动、灾后救援所需的临时模块化住宿，总部位于得克萨斯州伍德兰兹，同时在北达科他州威利斯顿、科罗拉多州丹佛以及阿尔伯塔省卡尔加里设有办事处。
PACK vs TH — 直观对比
营收规模更大
PACK
是对方的1.3倍
$73.5M
营收增速更快
TH
高出19.7%
2.3%
两年增速更快
PACK
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $93.7M | $73.5M |
| 净利润 | — | $-14.9M |
| 毛利率 | 39.0% | 9.6% |
| 营业利润率 | -1.0% | -22.9% |
| 净利率 | — | -20.3% |
| 营收同比 | 2.3% | 22.0% |
| 净利润同比 | — | -219.1% |
| 每股收益（稀释后） | $-0.11 | $-0.14 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收PACKTH
| Q4 25 | $93.7M | $73.5M | ||
| Q3 25 | $83.6M | $91.6M | ||
| Q2 25 | $77.8M | $54.9M | ||
| Q1 25 | $77.6M | $54.9M | ||
| Q4 24 | $91.6M | $60.2M | ||
| Q3 24 | $78.6M | $65.8M | ||
| Q2 24 | $72.8M | $67.5M | ||
| Q1 24 | $72.5M | $72.4M |
净利润PACKTH
| Q4 25 | — | $-14.9M | ||
| Q3 25 | $-10.4M | $-795.0K | ||
| Q2 25 | $-7.5M | $-14.9M | ||
| Q1 25 | $-10.9M | $-6.5M | ||
| Q4 24 | — | $12.5M | ||
| Q3 24 | $-8.1M | $20.0M | ||
| Q2 24 | $5.5M | $18.4M | ||
| Q1 24 | $-8.1M | $20.4M |
毛利率PACKTH
| Q4 25 | 39.0% | 9.6% | ||
| Q3 25 | 41.1% | 19.6% | ||
| Q2 25 | 37.1% | -0.6% | ||
| Q1 25 | 39.8% | 32.7% | ||
| Q4 24 | 45.2% | 61.5% | ||
| Q3 24 | 43.8% | 68.7% | ||
| Q2 24 | 43.5% | 69.4% | ||
| Q1 24 | 44.6% | 67.8% |
营业利润率PACKTH
| Q4 25 | -1.0% | -22.9% | ||
| Q3 25 | -6.8% | 0.1% | ||
| Q2 25 | -12.5% | -30.8% | ||
| Q1 25 | -10.3% | -2.0% | ||
| Q4 24 | 1.5% | 34.5% | ||
| Q3 24 | -5.3% | 42.5% | ||
| Q2 24 | -7.1% | 43.8% | ||
| Q1 24 | -6.6% | 42.0% |
净利率PACKTH
| Q4 25 | — | -20.3% | ||
| Q3 25 | -12.4% | -0.9% | ||
| Q2 25 | -9.6% | -27.2% | ||
| Q1 25 | -14.0% | -11.8% | ||
| Q4 24 | — | 20.8% | ||
| Q3 24 | -10.3% | 30.4% | ||
| Q2 24 | 7.6% | 27.2% | ||
| Q1 24 | -11.2% | 28.2% |
每股收益（稀释后）PACKTH
| Q4 25 | $-0.11 | $-0.14 | ||
| Q3 25 | $-0.12 | $-0.01 | ||
| Q2 25 | $-0.09 | $-0.15 | ||
| Q1 25 | $-0.13 | $-0.07 | ||
| Q4 24 | $-0.13 | $0.12 | ||
| Q3 24 | $-0.10 | $0.20 | ||
| Q2 24 | $0.07 | $0.18 | ||
| Q1 24 | $-0.10 | $0.20 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $63.0M | $8.3M |
| 总债务越低越好 | $401.9M | $1.7M |
| 股东权益账面价值 | $534.9M | $389.3M |
| 总资产 | $1.1B | $530.2M |
| 负债/权益比越低杠杆越低 | 0.75× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资PACKTH
| Q4 25 | $63.0M | $8.3M | ||
| Q3 25 | $49.9M | $30.4M | ||
| Q2 25 | $49.2M | $19.2M | ||
| Q1 25 | $65.5M | $34.5M | ||
| Q4 24 | $76.1M | $190.7M | ||
| Q3 24 | $69.5M | $177.7M | ||
| Q2 24 | $65.1M | $154.3M | ||
| Q1 24 | $55.1M | $124.3M |
总债务PACKTH
| Q4 25 | $401.9M | $1.7M | ||
| Q3 25 | $403.1M | $2.0M | ||
| Q2 25 | $403.1M | $26.3M | ||
| Q1 25 | $405.2M | $42.9M | ||
| Q4 24 | $406.4M | $1.5M | ||
| Q3 24 | $403.2M | $994.0K | ||
| Q2 24 | $396.1M | $1.1M | ||
| Q1 24 | $396.7M | $179.9M |
股东权益PACKTH
| Q4 25 | $534.9M | $389.3M | ||
| Q3 25 | $537.8M | $402.4M | ||
| Q2 25 | $539.0M | $401.3M | ||
| Q1 25 | $544.1M | $415.3M | ||
| Q4 24 | $548.1M | $421.1M | ||
| Q3 24 | $564.3M | $417.6M | ||
| Q2 24 | $566.2M | $397.2M | ||
| Q1 24 | $560.0M | $375.5M |
总资产PACKTH
| Q4 25 | $1.1B | $530.2M | ||
| Q3 25 | $1.1B | $541.2M | ||
| Q2 25 | $1.1B | $533.7M | ||
| Q1 25 | $1.1B | $562.5M | ||
| Q4 24 | $1.1B | $725.8M | ||
| Q3 24 | $1.1B | $709.8M | ||
| Q2 24 | $1.1B | $697.0M | ||
| Q1 24 | $1.1B | $687.2M |
负债/权益比PACKTH
| Q4 25 | 0.75× | 0.00× | ||
| Q3 25 | 0.75× | 0.01× | ||
| Q2 25 | 0.75× | 0.07× | ||
| Q1 25 | 0.74× | 0.10× | ||
| Q4 24 | 0.74× | 0.00× | ||
| Q3 24 | 0.71× | 0.00× | ||
| Q2 24 | 0.70× | 0.00× | ||
| Q1 24 | 0.71× | 0.48× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $19.5M | $5.7M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流PACKTH
| Q4 25 | $19.5M | $5.7M | ||
| Q3 25 | $8.5M | $53.4M | ||
| Q2 25 | $-3.6M | $11.1M | ||
| Q1 25 | $-1.3M | $3.9M | ||
| Q4 24 | $6.5M | $30.6M | ||
| Q3 24 | $10.1M | $31.4M | ||
| Q2 24 | $19.6M | $39.1M | ||
| Q1 24 | $5.2M | $50.6M |
自由现金流PACKTH
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-11.6M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率PACKTH
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -21.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度PACKTH
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 28.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金转化率PACKTH
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 1.57× | ||
| Q2 24 | 3.56× | 2.13× | ||
| Q1 24 | — | 2.48× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
PACK
| Other | $47.9M | 51% |
| Europe And Asia Segment | $45.8M | 49% |
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
