A Business at a Glance
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Our Business Ranpak is a leading provider of environmentally sustainable, systems-based, product protection and end-of-line automation solutions for e-commerce and industrial supply chains. Since our inception in 1972, we have delivered high quality protective packaging solutions, while maintaining our commitment to environmental sustainability. We differentiate ourselves by our: •Comprehensive Suite of Solutions. Ranpak provides a comprehensive suite of environmentally friendly end-of-line Protective Packaging, Automation, and Cold Chain solutions. Ranpak believes its ability to provide a broad array of value-added solutions to global customers is a key differentiator compared to our Protective Packaging competition and enables Ranpak to have deeper relationships with its end customers. Our business is global, with a strong presence in the U.S. and Europe along with an expanding footprint in Asia enabling us to serve multi-national customers across more than 50 countries.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 331M | 316M | 285M | 327M | 384M | 298M |
| Net Income | -40M | -22M | -27M | -41M | -2.8M | -23M |
| EPS | $-0.47 | $-0.26 | $-0.33 | $-0.51 | $-0.04 | $-0.32 |
| Free Cash Flow | 0 | 41M | 53M | -44M | -200K | 32M |
| ROIC | -2.0% | -2.3% | -0.8% | -4.1% | 1.3% | 1.3% |
| Gross Margin | 41.0% | 44.3% | 43.3% | 30.5% | 38.8% | 41.1% |
| Debt/Equity | 0.74 | 0.73 | 0.70 | 0.64 | 0.63 | 0.83 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -22M | -13M | -7.5M | -43M | 12M | 12M |
| Operating Margin | -6.7% | -4.1% | -2.6% | -13.0% | 3.2% | 3.9% |
| ROE | -7.4% | -3.8% | -4.7% | -6.8% | -0.4% | -4.5% |
| Shares Outstanding | 84M | 83M | 82M | 81M | 70M | 73M |
| Metric | 2018 | 2020 | 2021 | 2022 | |||
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 229M | 298M | 384M | 327M | 285M | 316M | 331M |
| Gross Margin | 50.0% | 41.1% | 38.8% | 30.5% | 43.3% | 44.3% | 41.0% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 11M | 12M | 12M | -43M | -7.5M | -13M | -22M |
| Op. Margin | 4.8% | 3.9% | 3.2% | -13.0% | -2.6% | -4.1% | -6.7% |
| Net Income | N/A | -23M | -2.8M | -41M | -27M | -22M | -40M |
| Net Margin | N/A | -7.8% | -0.7% | -12.7% | -9.5% | -6.8% | -12.0% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||
| ROIC | N/A | 1.3% | 1.3% | -4.1% | -0.8% | -2.3% | -2.0% |
| ROE | N/A | -4.5% | -0.4% | -6.8% | -4.7% | -3.8% | -7.4% |
| ROA | N/A | -2.1% | -0.2% | -3.7% | -2.4% | -1.9% | -3.5% |
| Cash Flow | |||||||
| Op. Cash Flow | 42M | 64M | 54M | 1.1M | 53M | 41M | 10M |
| Free Cash Flow | 17M | 32M | -200K | -44M | 53M | 41M | 0 |
| Owner Earnings | -23M | 1.1M | -19M | -68M | -27M | -30M | -62M |
| CapEx | 25M | 32M | 55M | 45M | 0 | 0 | 0 |
| Maint. CapEx | 65M | 63M | 74M | 69M | 70M | 65M | 65M |
| Growth CapEx | 0 | 0 | 0 | 0 | N/A | N/A | 0 |
| D&A | 65M | 63M | 74M | 69M | 70M | 65M | 65M |
| CapEx/OCF | 59.0% | 50.6% | 100.4% | 4072.7% | N/A | N/A | 0.0% |
| Capital Allocation | |||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | N/A | N/A | N/A | N/A | 10M | 6.3M | 6.3M |
| Debt Repayment | 6.6M | 0 | 0 | 0 | 0 | 4.3M | 4.3M |
| Balance Sheet | |||||||
| Net Debt | 482M | 384M | 297M | 329M | 336M | 325M | 347M |
| Cash & Equiv. | N/A | N/A | N/A | N/A | N/A | N/A | 50M |
| Long-Term Debt | 495M | 433M | 400M | 392M | 398M | 401M | 401M |
| Debt/Equity | 2.54 | 0.83 | 0.63 | 0.64 | 0.70 | 0.73 | 0.74 |
| Interest Coverage | 0.4 | 0.4 | 0.5 | -2.1 | -0.3 | -0.4 | -0.4 |
| Equity | 196M | 523M | 636M | 613M | 572M | 548M | 538M |
| Total Assets | 793M | 1.1B | 1.2B | 1.1B | 1.1B | 1.1B | 1.1B |
| Total Liabilities | 596M | 611M | 577M | 521M | 551M | 556M | 25M |
| Intangibles | 649M | 899M | 860M | 819M | 796M | 756M | 756M |
| Retained Earnings | -70M | -53M | -55M | -97M | -124M | -145M | -145M |
| Working Capital | 41M | 50M | 120M | 101M | 77M | 83M | 83M |
| Current Assets | 68M | 107M | 192M | 140M | 125M | 151M | 151M |
| Current Liabilities | 28M | 58M | 72M | 39M | 48M | 68M | 68M |
| Per Share Data | |||||||
| EPS | -8,697.61 | -0.32 | -0.04 | -0.51 | -0.33 | -0.26 | -0.47 |
| Owner EPS | -0.32 | 0.02 | -0.28 | -0.84 | -0.33 | -0.37 | -0.73 |
| Book Value | 2.77 | 7.15 | 9.09 | 7.55 | 6.97 | 6.63 | 6.37 |
| Cash Flow/Share | 0.59 | 0.87 | 0.78 | 0.01 | 0.64 | 0.50 | 0.30 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 70.9M | 73.1M | 70.0M | 81.2M | 82.1M | 82.7M | 84.4M |
| Valuation | |||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | -7.8 |
| P/FCF | 41.4 | 28.5 | N/A | N/A | 9.4 | 13.9 | N/A |
| EV/EBIT | 108.5 | 109.7 | 234.6 | N/A | N/A | N/A | N/A |
| Price/Book | 3.6 | 1.7 | 4.0 | 0.7 | 0.9 | 1.0 | 0.6 |
| Price/Sales | 3.0 | 2.1 | 4.7 | 3.1 | 1.4 | 1.7 | 0.9 |
| FCF Yield | 2.4% | 3.5% | -0.0% | -9.6% | 10.6% | 7.2% | N/A |
| Market Cap | 712M | 899M | 2.6B | 454M | 497M | 575M | 310M |
| Avg. Price | 9.71 | 8.69 | 25.52 | 12.67 | 5.01 | 6.44 | 3.67 |
| Year-End Price | 10.05 | 12.29 | 36.65 | 5.59 | 6.05 | 6.95 | 3.67 |
Ranpak Holdings Corp. passes 2 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 7.3x vs a median of 21.2x. The company's 5-year average gross margin is 39.6%. At current prices, the estimated annualized return to fair value is +0.6%.
Ranpak Holdings Corp. (PACK) has a 5-year average return on invested capital (ROIC) of -0.9%. This is below average and may indicate limited pricing power.
Ranpak Holdings Corp. (PACK) has a market capitalization of $310M. It is classified as a small-cap stock.
Ranpak Holdings Corp. (PACK) does not currently pay a regular dividend.
Ranpak Holdings Corp. (PACK) operates in the Converted Paper & Paperboard Prods (No Contaners/Boxes) industry, within the Materials sector.
Ranpak Holdings Corp. (PACK) reported annual revenue of $316 million in its most recent fiscal year, based on SEC EDGAR filings.
Ranpak Holdings Corp. (PACK) has a net profit margin of -6.8%. The company is currently unprofitable.
Ranpak Holdings Corp. (PACK) generated $41 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Ranpak Holdings Corp. (PACK) has a debt-to-equity ratio of 0.73. This indicates moderate leverage.
Ranpak Holdings Corp. (PACK) reported earnings per share (EPS) of $-0.26 in its most recent fiscal year.
Ranpak Holdings Corp. (PACK) has a return on equity (ROE) of -3.8%. A negative ROE may indicate losses or negative equity.
Ranpak Holdings Corp. (PACK) has a 5-year average gross margin of 39.6%. This indicates decent pricing power.
The Ledger Terminal provides 6 years of financial data for Ranpak Holdings Corp. (PACK), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Ranpak Holdings Corp. (PACK) has a book value per share of $6.63, based on its most recent annual SEC filing.