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Ranpak Holdings Corp. ( Ranpak, the Company, we, or us ) is a leading provider of Protective Packaging Solutions ( PPS ) products and end-of-line automation solutions for e-commerce and industrial supply chains. Since our inception in 1972, we have delivered a broad array of value-added solutions to global customers, while maintaining our commitment to environmental sustainability.
The business is unprofitable at the operating level (-6.15% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 7.1%, steady but not accelerating. Margins contracted 2.7pp, which offsets some of the top-line progress.
Free cash flow declined 46% versus the prior year, cash generation momentum has weakened. Net debt of $369M represents 18.6x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$405M
▲ +7.1% YoY
Net Income (TTM)
-$38M
▼ -78.1% YoY
Op. Margin
-4.96%
▼ -2.7pp YoY
ROIC
-1.64%
▼ -1.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$25M
▼ -45.9% YoY
Op. Cash Flow (TTM)
$29M
▼ -44.2% YoY
Net Debt
$383M
Cash & Equiv.
$49M
5Y CAGR: +5.8%
5Y CAGR: -8.9%
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