Ranpak Holdings PACK

NYSE · Converted Paper & Paperboard Prods (No Contaners/Boxes) · $288M

$3.34−0.60%Nov 5 close · Databento

Every report since 2023 →

🔒 Click to interact · scroll moves the page

PACK Wire Story Reactions & EOD Technical StudyDaily closes (Databento EOD) pinned with every AlgoThesis Wire story (dot colour = next trading day close) and SEC filing

Nov 5, 2026CLOSE $3.341D −0.60%3M −35.77%SMA20 $3.49SMA50 $3.92RSI(14) 41.4

3.34

RSI (14, Wilder EOD) · 70 Overbought / 30 OversoldRSI 41.4

Data provided by Databento (end of day). Next close = the first close after a story against the close before it; official daily closes only, not a call, not advice.

The numbers

fiscal 2025, as filed with the SEC · 66-metric EOD snapshot via Databento

Market cap$288M

Enterprise value$630.9M

Revenue$395.0M +7.1%

True FCF (ex-SBC)$-39.8M +93.8%

Rule of 40-1.1%

ROIC-2.2%

True FCF Yield-13.8%

EPS, diluted$-0.45 −73.1%

Modern Valuation (EOD)

Market Cap$288M

Enterprise Value$630.9M

EV / True FCF—

EV / FCF—

EV / Gross Profit4.83

EV / EBIT—

EV / Sales1.60

P / E (GAAP)—

P / FCF—

P / Oper. CF12.47

P / Book0.54

Owner & Cash Yields

True FCF Yield-13.8%

FCF Yield-11.2%

Owner Earn. Yield-12.0%

Earnings Yield-13.3%

Shareholder Yield−2.6%

Buyback Yield0.0%

Dividend Yield—

Dividend / sh—

Payout Ratio—

FCF / sh$-0.38

EPS (diluted)$-0.45

Compounder & Returns

Rule of 40-1.1%

ROIC-2.2%

Cash ROIC (CROIC)-3.7%

GP / Assets11.6%

ROE-7.2%

ROA-3.4%

Gross Margin33.1%

Oper. Margin-6.2%

Net Margin-9.7%

FCF Margin-8.2%

True FCF Margin-10.1%

Quality & Dilution

Cash Conversion—

Accrual Ratio−5.5%

SBC % of FCF—

SBC % of Rev1.9%

Reinvest. Rate257%

Sales Growth Y/Y+7.1%

Sales 3Y CAGR+6.6%

EPS Growth Y/Y−73.1%

FCF Growth Y/Y+93.8%

FCF 3Y CAGR—

Share Change Y/Y+1.4%

Balance Sheet & Scale

Revenue (FY)$395.0M

Gross Profit (FY)$130.7M

Oper. Income (FY)$-24.3M

GAAP Net Income$-38.3M

True FCF (ex-SBC)$-39.8M

Cash & Equiv$63.0M

Total Debt$405.8M

Net Cash (Debt)$-342.8M

Net Cash % MCap−119.0%

Debt / FCF (yrs)—

Current Ratio1.8385.79M sh

Price & Technicals (EOD)

Perf Week−1.76%

Perf Month−14.80%

Perf Quarter−39.38%

Perf Half Y−47.65%

Perf YTD−21.23%

SMA 20 Dist−4.34%$3.49

SMA 50 Dist−14.75%$3.92

SMA 100 Dist−34.19%$5.07

Window High−56.28%$7.64

Window Low+12.08%$2.98

RSI (14) · Vol41.477%v

Income Distribution & Cash Flow ConversionHow every dollar of PACK revenue flows through cost of goods, operating expenses, taxes, GAAP net income, and dilution-adjusted free cash flow

Where Every $100 of Revenue Goes (FY2025)

Cost of Revenue (COGS)$264.3M ($66.9 / $100)

R&D Reinvestment$4.1M ($1.0 / $100)

SG&A & Other OpEx$150.9M ($38.2 / $100)

Tax & Non-Operating$14.0M ($3.5 / $100)

Net Profit Kept$-38.3M ($0.0 / $100)

Earnings Quality: GAAP Profit → True Owner Cash (FY2025)

GAAP Net Income$-38.3M (-9.7% margin)

Operating Cash Flow (OCF)$23.1M(5.8% of rev)

Less: Capital Expenditures−$55.3M(14.0% of rev)

Standard Free Cash Flow (FCF)$-32.2M(-8.2% margin)

Less: Stock-Based Comp (SBC)−$7.6M

True FCF (Owner Cash ex-SBC)$-39.8M(-10.1% of rev)

Revenue by fiscal year

Operating leverage — margins

GrossOperatingNet

Line Item (USD)	FY2021	FY2022	FY2023	FY2024	FY2025	YoY Δ	4Y CAGR
Income Statement
Revenue	$383.9M	$326.5M	$336.3M	$368.9M	$395.0M	+7.1%	+0.7%
Cost of Revenue (COGS)	$235.0M	$226.9M	$213.0M	$229.1M	$264.3M	+15.4%	+3.0%
Gross Profit	$148.9M	$99.6M	$123.3M	$139.8M	$130.7M	−6.5%	−3.2%
Research & Development (R&D)	$1.7M	$3.6M	$3.7M	$4.4M	$4.1M	−6.8%	+24.6%
Selling, General & Admin (SG&A)	$98.3M	$105.5M	$91.8M	$111.9M	$114.5M	+2.3%	+3.9%
Total Operating Expenses	$136.7M	$142.1M	$130.8M	$152.6M	$155.0M	+1.6%	+3.2%
Operating Income (EBIT)	$12.2M	$-42.5M	$-7.5M	$-12.8M	$-24.3M	−89.8%	—
Interest Expense	$22.4M	$20.7M	$24.3M	$28.6M	$34.3M	+19.9%	+11.2%
Income Tax Expense	$-2.1M	$-15.3M	$-4.2M	$-2.2M	$-9.2M	−318.2%	—
GAAP Net Income	$-2.8M	$-41.4M	$-27.1M	$-21.5M	$-38.3M	−78.1%	—
Diluted EPS	$-0.04	$-0.51	$-0.33	$-0.26	$-0.45	−73.1%	—
Diluted Shares	78.5M	81.9M	82.4M	83.1M	84.2M	+1.4%	+1.7%
Balance Sheet
Cash & Equivalents	$103.9M	$62.8M	$62.0M	$76.1M	$63.0M	−17.2%	−11.8%
Inventory	$32.9M	$25.0M	$17.3M	$21.7M	$30.6M	+41.0%	−1.8%
Total Current Assets	$191.5M	$139.6M	$124.9M	$151.2M	$153.8M	+1.7%	−5.3%
Total Assets	$1.2B	$1.1B	$1.1B	$1.1B	$1.1B	+1.9%	−1.9%
Total Current Liabilities	$71.5M	$39.1M	$48.0M	$68.4M	$84.0M	+22.8%	+4.1%
Total Debt (Short + Long Term)	$401.8M	$393.6M	$401.9M	$410.4M	$405.8M	−1.1%	+0.2%
Total Liabilities	$577.2M	$520.7M	$550.7M	$556.1M	$590.0M	+6.1%	+0.5%
Stockholders' Equity	$636.2M	$612.8M	$572.0M	$548.1M	$534.9M	−2.4%	−4.2%
Net Cash / (Net Debt)	$-297.9M	$-330.8M	$-339.9M	$-334.3M	$-342.8M	−2.5%	—
Invested Capital	$934.1M	$943.6M	$911.9M	$882.4M	$877.7M	−0.5%	−1.5%
Cash Flow & Capital Allocation
Operating Cash Flow (OCF)	$54.3M	$1.1M	$52.6M	$41.4M	$23.1M	−44.2%	−19.2%
Depreciation & Amortization (D&A)	$73.6M	$69.0M	$69.6M	$65.3M	$66.7M	+2.1%	−2.4%
Stock-Based Compensation (SBC)	$22.5M	$18.3M	$-10.2M	$6.3M	$7.6M	+20.6%	−23.8%
Capital Expenditures (CapEx)	$54.5M	$44.8M	$55.3M	—	$55.3M	—	+0.4%
Free Cash Flow (FCF)	$-200,000	$-43.7M	$-2.7M	—	$-32.2M	—	—
True FCF (ex-SBC Owner Cash)	$-22.7M	$-62.0M	$7.5M	—	$-39.8M	—	—
Share Repurchases (Buybacks)	$0	—	—	—	$0	—	—

Fundamentals, income distribution and multi-year statements from SEC EDGAR filings (public domain). Valuation multiples, performance and technicals computed from Databento 1D EOD closes. For information only, not investment advice.

On the Wire

what PACK did at the next close after each story

No Wire story has named PACK yet.

What happened · big days

19 big days in a year, and what we hold on each

A big day is a close more than 6.46% from the one before, three times PACK’s median day (2.15%). On 1 of the 19, its peer group moved the same way at least half as far. We show what we hold. We never name a cause.

every other trading daya big day, numbered in the list below±6.46%Hover a bar for its day. Click a big day to open it.

Shaded: since our stories began, Jun 10. Tap a bar for its day.

#DayPACKWhat we hold that dayGroup (median of 3) · each

1 Nov 6, 2025−6.79%
Before our storiesgroup −1.5%, did not move with it
1Nov 6, 2025−6.79%
Before our stories
−1.5% did not move with itAVY −1.5 · DSY −1.5 · KMB +0.7
2 Feb 6, 2026+17.11%
Before our storiesgroup +0.1%, did not move with it
2Feb 6, 2026+17.11%
Before our stories
+0.1% did not move with itDSY +6.8 · KMB +0.1 · AVY −0.7
3 Feb 9, 2026+6.78%
Before our storiesgroup −1.1%, did not move with it
3Feb 9, 2026+6.78%
Before our stories
−1.1% did not move with itKMB +0.3 · AVY −1.1 · DSY −2.1
4 Mar 5, 2026−19.85%
Resultsgroup +0.2%, did not move with it
4Mar 5, 2026−19.85%
ResultsFirst close after the Mar 5 results filing
+0.2% did not move with itAVY −1.9 · KMB +0.2 · DSY +8.9
5 Mar 6, 2026−8.96%
Before our storiesgroup −0.3%, did not move with it
5Mar 6, 2026−8.96%
Before our stories
−0.3% did not move with itAVY −2.2 · KMB −0.3 · DSY −0.3
6 Mar 12, 2026−13.60%
Before our storiesgroup −2.0%, did not move with it
6Mar 12, 2026−13.60%
Before our stories
−2.0% did not move with itKMB −2.2 · AVY −2.0 · DSY 0.0
7 Mar 23, 2026+7.03%
Before our storiesgroup +1.3%, did not move with it
7Mar 23, 2026+7.03%
Before our stories
+1.3% did not move with itAVY +2.3 · KMB +1.3 · DSY +1.1
8 Apr 8, 2026+7.78%
Before our storiesgroup +4.7%, moved with PACK
8Apr 8, 2026+7.78%
Before our stories
+4.7% moved with PACKDSY +6.6 · AVY +4.7 · KMB +4.3
9 Apr 17, 2026+7.85%
Before our storiesgroup +0.9%, did not move with it
9Apr 17, 2026+7.85%
Before our stories
+0.9% did not move with itAVY +3.7 · KMB +0.9 · DSY −5.0
10 Apr 30, 2026+29.19%
Resultsgroup +0.6%, did not move with it
10Apr 30, 2026+29.19%
ResultsFirst close after the Apr 30 results filing
+0.6% did not move with itKMB +2.4 · AVY +0.6 · DSY −12.1
11 May 1, 2026+10.22%
Before our storiesgroup −0.6%, did not move with it
11May 1, 2026+10.22%
Before our stories
−0.6% did not move with itDSY +5.9 · AVY −0.6 · KMB −0.8
12 May 15, 2026−6.50%
Before our storiesgroup −0.8%, did not move with it
12May 15, 2026−6.50%
Before our stories
−0.8% did not move with itAVY −1.8 · KMB −0.8 · DSY +1.5
13 May 20, 2026+8.44%
Before our storiesgroup +1.1%, did not move with it
13May 20, 2026+8.44%
Before our stories
+1.1% did not move with itAVY +2.6 · KMB +1.1 · DSY −3.5
14 Jul 23, 2026−9.99%
Nothing on PACKgroup −1.4%, did not move with it
14Jul 23, 2026−9.99%
Nothing on PACKNo PACK story, brief or results filing in our record that day
−1.4% did not move with itAVY −1.6 · KMB −1.4 · DSY +12.0
15 Jul 29, 2026−9.18%
Nothing on PACKgroup −1.2%, did not move with it
15Jul 29, 2026−9.18%
Nothing on PACKNo PACK story, brief or results filing in our record that day
−1.2% did not move with itDSY −3.3 · AVY −1.2 · KMB +0.1
16 Jul 30, 2026−11.47%
Resultsgroup +0.6%, did not move with it
16Jul 30, 2026−11.47%
ResultsFirst close after the Jul 30 results filing
+0.6% did not move with itKMB −2.7 · DSY +0.6 · AVY +4.6
17 Oct 29, 2026−10.05%
Resultsgroup +0.8%, did not move with it
17Oct 29, 2026−10.05%
ResultsFirst close after the Oct 29 results filing
+0.8% did not move with itDSY −6.1 · AVY +0.8 · KMB +1.5
18 Oct 30, 2026−6.47%
Nothing on PACKgroup −1.9%, did not move with it
18Oct 30, 2026−6.47%
Nothing on PACKNo PACK story, brief or results filing in our record that day
−1.9% did not move with itDSY −6.5 · KMB −1.9 · AVY +0.1
19 Nov 4, 2026+12.75%
Nothing on PACKgroup +3.9%, did not move with it
19Nov 4, 2026+12.75%
Nothing on PACKNo PACK story, brief or results filing in our record that day
+3.9% did not move with itKMB +4.2 · AVY +3.9 · DSY −1.3

A story on the same day is not a cause, and a group move is not proof either. Group: the median of KMB, AVY and DSY that day, the largest companies in PACK’s SEC industry; “moved with PACK” means the same direction and at least half the size.

What’s next · results

Before the next report: what the first day after the last four did

Six trading days after each results filing (SEC 8-K, Item 2.02). PACK reports before the open, so day 1 is that day’s close. Each time, day 6 ended on the same side as day 1.

Reported Oct 30, 2025

day 1−17.03%day 6−11.47%

Reported Mar 5, 2026

day 1−19.85%day 6−38.75%

Reported Apr 30, 2026

day 1+29.19%day 6+61.93%

Reported Jul 30, 2026

day 1−11.47%day 6−7.02%

Next report: expected late JanuaryEstimated from the dates of its last four results filings. Not announced. Since the Oct 29 report: −11.11%. Four reports is a small sample.

Every report since 2023 →

Each line is PACK’s close against its close before the filing, on licensed end-of-day closes. What happened after each report, not a forecast; a move on the day is not a cause.

Same industry

PACK against three same-industry peers, a year at 100

PACK is down 32.3% in a year. Big Tree Cloud is up 5.8 times, Avery Dennison is up 10.6% and Kimberly Clark 4.8%. All three did more. Weekly closes, Nov 7, 2025 = 100, on a log scale so a 5.8-fold rise and a 32.3% fall both read honestly.

Share this chart

PACK −32.3%. Big Tree Cloud ×5.8, Avery Dennison +10.6%, Kimberly Clark +4.8%. Weekly closes, Nov 7, 2025 = 100, log scale.

Share this chart

End-of-day closes (Databento EOD), the last close of each week. The three peers are the largest US-listed companies by market value in PACK’s SEC industry (Converted Paper & Paperboard Prods (No Contaners/Boxes)) with a year of closes. It shows what the closes did; a move here is not a cause, a forecast or a call.

The Wire at 7 AM ET, free. Top stories with a bull and a bear case on each, every morning. No account needed.

KMB	Kimberly Clark	$36.2B	+1.54%
AVY	Avery Dennison	$14.6B	−1.50%
DSY	Big Tree Cloud	$13M	−0.83%