Ranpak Holdings Corp.

Consumer Discretionary
Containers/Packaging
www.ranpak.com

Moat Score
Safety Score

Market Cap $649.02M
PE -32
Debt $404.30M
Cash $69.50M
EV $983.82M
FCF $40.10M

Earnings

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Sales & Net Margins

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Earnings	-$20.00M
EBIT	-$17.50M
ROE	-4%
ROA	-2%
FCF	$40.10M
Equity	$564.30M
Growth Stability	1
PE	-32.45
PB	1.15
P/FCF	16.19
P/S	1.83
Price/Cash	0.11
Debt/Equity	0.72
Debt/FCF	10.08
Net Margins	-4%
Gross Margins	37%
Op. Margins	-5%
Sales Growth YoY	11%
Sales Growth QoQ	7%
Sales CAGR	21%
FCF CAGR	1%
Equity CAGR	130%
Earnings Growth YoY	145%

Earnings Growth QoQ	-247%
Sales CAGR 5Y	14%
FCF CAGR 5Y	-3%
Equity CAGR 5Y	2%
Earnings CAGR 3Y	-4%
Sales CAGR 3Y	-4%
Equity CAGR 3Y	-5%
Market Cap	$649.02M
Revenue	$354.30M
Assets	$1.13B
Total Debt	$404.30M
Cash	$69.50M
Shares Outstanding	82.99M
EV	983.82M
Moat Score	11%
Safety Score	77%
Working Capital	88.2M
Current Ratio	2.36
Gross Profit	$132.50M
Shares Growth 3y	1%
Equity Growth QoQ	-0%
Equity Growth YoY	-2%

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-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

= $425M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$40M	$40M	$41M	$41M	$41M	$42M	$42M	$43M	$43M	$43M	$44M	$436M
DCF		$37M	$34M	$31M	$28M	$26M	$24M	$22M	$20M	$18M	$17M	$168M
Value	$425M

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	TTM
Net Margins	-3%	-64%	-8%	-1%	-13%	-8%	-4%
ROA	-	-0%	1%	1%	-4%	-1%	-2%
ROE	-172%	-3%	-4%	-0%	-7%	-5%	-4%

Bad Net Margins (-4.05%)

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	TTM
Debt over FCF	-	-19.68	13.77	-2.01K	-9.01	-148.85	10.08
Debt over Equity	102.18	1.31	0.83	0.63	0.64	0.7	0.72
Growth Stability	-	-	-	-	-	-	1

Bad Debt/FCF ratio (10.08)

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 (0.72)

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	CAGR 5Y
Revenue YoY growth	-	-94%	2K%	29%	-15%	3%	14%
Earnings YoY growth	-	22%	123%	-88%	1K%	-35%	-
Equity YoY growth	-	8K%	27%	22%	-4%	-7%	2%
FCF YoY growth	-	5%	-215%	-101%	22K%	-94%	-3%