PACKRanpak Holdings Corp.
Is the business good?
Margins widening. That is the only one of 4 checks this filer's data supports, so take it as a single data point rather than a settled answer.
Operating margin has widened over the past few years, the business is getting more profitable per dollar of sales.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is PACK?
Ranpak Holdings Corp. earns −1.1% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 10 points below what the capital costs: growth destroys value
- Operating margin
- −3.1%
Operating margin · Packaging & Containers median 8.1% · 12 months to Q2 2026
- Share count, year on year
- +1.6%
Share count, year on year · shareholders own a smaller slice than a year ago
- Gross margin
- 34%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | 3.9% |
| FY2021 | 3.2% |
| FY2022 | −13% |
| FY2023 | −2.2% |
| FY2024 | −3.5% |
| FY2025 | −6.2% |
Details›
- Gross margin12 months to Q2 2026
- 34%
- Operating margin12 months to Q2 2026
- −3.1%
- Net margin12 months to Q2 2026
- −9.1%
- Free cash flow margin
- 2.9%
- Revenue, trailing twelve months
- $418M
- Free cash flow, trailing twelve months
- $12M
- Net income, trailing twelve months
- −$38M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −1.1%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Customers and suppliers
Who buys from PACK and who it buys from, as the companies report it.
- One customer13%
Share of revenue · FY2025 10-K
None disclosed.
A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; PACK’s own figures are from its FY2025 10-K. Smaller customers and suppliers go unreported.
Packaging & Containers
Ranks #11 of 12 by RyuScore