Ranpak Holdings Corp.

Consumer Discretionary
Containers/Packaging
www.ranpak.com

Moat Score
Safety Score

Market Cap $249.18M
PE -12
Debt $410.40M
Cash $76.10M
EV $583.48M
FCF $36.60M

Earnings

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Sales & Net Margins

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Earnings	-$21.50M
EBIT	-$12.80M
ROE	-4%
ROA	-1%
FCF	$36.60M
Equity	$548.10M
Growth Stability	1
PE	-11.59
PB	0.45
P/FCF	6.81
P/S	0.68
Price/Cash	0.31
Debt/Equity	0.75
Debt/FCF	11.21
Net Margins	-6%
Gross Margins	38%
Op. Margins	-3%
Sales Growth YoY	16%
Sales Growth QoQ	14%
Sales CAGR	20%
FCF CAGR	1%
Equity CAGR	119%
Earnings Growth YoY	16%
Earnings Growth QoQ	33%

Sales CAGR 5Y	9%
FCF CAGR 5Y	-1%
Equity CAGR 5Y	1%
Earnings CAGR 3Y	-1%
Sales CAGR 3Y	-1%
FCF CAGR 3Y	15%
Equity CAGR 3Y	-5%
Market Cap	$249.18M
Revenue	$368.90M
Assets	$1.10B
Total Debt	$410.40M
Cash	$76.10M
Shares Outstanding	83.06M
EV	583.48M
Moat Score	10%
Safety Score	76%
Working Capital	82.8M
Current Ratio	2.21
Gross Profit	$139.80M
Shares Growth 3y	1%
Equity Growth QoQ	-3%
Equity Growth YoY	-4%

Assets & ROA

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Stockholders Equity & ROE

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Ranpak Holdings Corp is a provider of environmentally sustainable, systems-based, product protection solutions for e-Commerce and industrial supply chains. The company offers a full suite of protective packaging systems and paper consumables. Geographically, it derives a majority of revenue from Europe/Asia.

SEC Filings

Direct access to Ranpak Holdings Corp. (PACK) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Ranpak Holdings Corp. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Ranpak Holdings Corp. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

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Ranpak Holdings Corp. Discounted Cash Flow

Fully customizable DCF calculator online for Ranpak Holdings Corp..

Years

Calculation mode

= $403M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$37M	$37M	$38M	$38M	$39M	$39M	$40M	$40M	$41M	$42M	$42M	$422M
DCF		$34M	$31M	$29M	$26M	$24M	$23M	$21M	$19M	$18M	$16M	$163M
Value	$403M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2018	06/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	-3%	-64%	-8%	-1%	-13%	-8%	-6%	-6%
ROA	-	-0%	1%	1%	-4%	-1%	-1%	-1%
ROE	-172%	-3%	-4%	-0%	-7%	-5%	-4%	-4%

Bad Net Margins (-5.83%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2018	06/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	-19.68	13.77	-2.01K	-9.01	-148.85	11.21	11.21
Debt over Equity	102.18	1.31	0.83	0.63	0.64	0.7	0.75	0.75
Growth Stability	-	-	-	-	-	-	-	1

Bad Debt/FCF ratio (11.21)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Good Debt/Equity ratio (0.75)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (1)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2018	06/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	-94%	2K%	29%	-15%	3%	10%	9%
Earnings YoY growth	-	22%	123%	-88%	1K%	-35%	-21%	-
Equity YoY growth	-	8K%	27%	22%	-4%	-7%	-4%	1%
FCF YoY growth	-	5%	-215%	-101%	22K%	-94%	-1K%	-1%