Ranpak Holdings Corp logo

Ranpak Holdings Corp(PACK)

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EXPLORE ADVISORIES AND THEIR HISTORY
QUALITY SIGNAL
1-STAR RATING
PASS
LAST CLOSE
$3.9
10/08/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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  • 1M
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  • BUY Advisory
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  • Profit
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Upturn Stock price based on last close iconStock price based on last close
Simulated performance—not actual client returns. Results depend on calculation assumptions and do not guarantee future outcomes. See Disclosures for methodology, assumptions, and limitations.

Advisory Performance History (Simulated)Advisory Performance History info

Simulated performance—not actual client returns. Results depend on calculation assumptions and do not guarantee future outcomes. See Disclosures for methodology, assumptions, and limitations.

Upturn Advisory & Investor View for PACK

10/08/2026: PACK (1-star) is currently NOT-A-BUY. Pass it for now.

Ranpak Holdings Corp is a specialized provider of sustainable, paper-based protective packaging solutions, operating primarily within the e-commerce and logistics sectors. The company’s core strength lies in its recurring revenue model driven by consumable paper sales and its strategic shift toward warehouse automation. Its primary growth opportunity involves converting plastic-based packaging users to eco-friendly paper alternatives as ESG demands increase. Key risks include exposure to paper raw material price volatility, reliance on shipping volume health, and execution challenges in global expansion. While it does not pay a dividend, the company appeals to growth-oriented investors interested in the long-term secular shift toward sustainable industrial supply chain solutions.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorStrong fitThe company operates in a high-growth sector driven by the global transition away from plastic packaging.
Momentum investorMixed fitMomentum is conditional on positive price trends and sustained growth in e-commerce volumes.
Value investorMixed fitValuation depends on future earnings realization and the scaling of the automation business.
Dividend investorWeak fitThe company does not pay a dividend as it currently prioritizes reinvesting cash for growth.
Low-risk investorWeak fitThe stock exhibits price volatility and carries execution risks associated with global market expansion.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighAs a growth-oriented stock, it is sensitive to macro shifts and e-commerce growth expectations.
Valuation riskMedium / highThe stock's premium often relies on the long-term success of the automation and sustainability narrative.
Competition risk (Plastic packaging incumbents)HighEstablished incumbents have deep pockets and existing distribution networks that can challenge Ranpak.
Business qualityMediumThe business model has sticky, recurring revenue from paper consumables but depends on equipment placement success.
Dividend incomeLow / noneThere is no current dividend income for shareholders.
Execution riskMedium / highSuccessfully integrating and scaling automated solutions across global markets is complex.

Price Behavior

Rolling Over
PRICE PATH

Rolling Over

The price momentum is slowing down and beginning to turn downward.

Highly Choppy
PRICE STABILITY

Highly Choppy

The stock has experienced frequent, large price swings that make its near-term movement less predictable.

Analysis of Past Performance

Type Stock
Historic Profit 67.3%
Avg. Invested days 36
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 3.0
Stock Returns Performance Upturn Returns Performance icon 3.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 10/08/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
PACK receives a 2-star rating, reflecting soft or weak scores across the available pillars. The rating is constrained by weak unit economics, soft quantitative characteristics, and weak price momentum.

Company Fundamentals

★★★★★
PACK has moderate overall fundamentals (3 stars), with soft financial health, soft growth momentum, and solid ownership. In FY2025 versus FY2024, growth and ownership metrics are mixed: negative earnings growth (-78.1%), weak cash generation (FCF margin -1.8%), moderate revenue growth (+7.1%).

Financial Health Rating

★★★★★
PACK's financial health is soft, with the relatively strongest area being moderate efficiency, including operating-expense and cost-of-revenue discipline (opex 30.1% of revenue). Profitability is soft (2 stars), which helps explain the 2-star overall score.

Growth Momentum Score

★★★★★
Revenue growth is PACK's strongest growth driver at +7.1% FY2025 versus FY2024 (moderate, 3 stars). By comparison, while earnings growth (-78.1%, negative) and free-cash-flow growth (-186.7%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 89.7% and approximately 55.2% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 8.87% supports management-shareholder alignment.

Top 5 Institutional Investors

JS Capital Management LLC 35.60%
SOROS CAPITAL MANAGEMENT LLC 5.40%
BlackRock Inc 4.17%
Dimensional Fund Advisors, Inc. 3.69%
SCHUSTERMAN INTERESTS, LLC 3.52%

Unit Economics (Per $1K Revenue)

★★★★★
PACK generates approximately $240 of gross profit, $-62 of operating income, and $-18 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Operating losses and cash burn explain the 1-star rating, with weak cash conversion and weak capital efficiency.

Economic Dimensions

★★★★★
Effective Tax Rate: 19.37%

Quantitative Style Profile

★★★★★
PACK has a liquid profile. Weak momentum is the primary drawback, while elevated volatility.

Style Classification

Quality Focused

Value-OrientedHigh VolatilitySmall / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 336.17M USD
Price to earnings Ratio -
1Y Target Price 7.08
Price to earnings Ratio -
1Y Target Price 7.08
Volume (30-day avg) 503.0K shares
Beta 3.14
52 Weeks Range 3.22 - 7.81
Updated Date 10/08/2026
52 Weeks Range 3.22 - 7.81
Updated Date 10/08/2026
Dividends yield (FY) -
Basic EPS (TTM) -0.43

How Company Makes Money

Business areaWhat it includesRetail investor read
Consumables (Paper)Revenue from the sale of proprietary paper used in Ranpak machines.This is the 'razor' part of the business, providing recurring revenue as customers continue to pack goods.
Machinery LeasingRevenue from leasing, servicing, and installing protective packaging systems.This drives the 'blade' revenue by creating long-term relationships with customers in their warehouses.
Geography: North America & EuropePrimary regions for current operations and sales distribution.The company is heavily tied to the health of the North American and European e-commerce markets.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE -
Forward PE -
Enterprise Value 743.47M
Price to Sales(TTM) 0.8
Enterprise Value 743.47M
Price to Sales(TTM) 0.8
Enterprise Value to Revenue 1.78
Enterprise Value to EBITDA 13.95
Shares Outstanding 85.76M
Shares Floating 47.36M
Shares Outstanding 85.76M
Shares Floating 47.36M
Percent Insiders 8.87
Percent Institutions 89.67

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Ranpak Holdings Corp

Exchange NYSE
Headquarters Concord Township, OH, United States
IPO Launch date 2019-06-03
Founder, CEO & Chairman Mr. Omar Marwan Asali
Sector Consumer Cyclical
Industry Packaging & Containers
Full time employees 800
Full time employees 800

Ranpak Holdings Corp., together with its subsidiaries, provides product protection solutions and end-of-line automation solutions for e-commerce and industrial supply chains in North America, Europe, and Asia. The company offers protective packaging solutions, such as void-fill protective systems that convert paper to fill empty spaces in secondary packages and protect objects under the FillPak brand; cushioning protective systems, which convert paper into cushioning pads under the PadPak brand; wrapping protective systems that create pads or paper mesh to wrap and protect fragile items, as well as to line boxes and provide separation when shipping various objects under the WrapPak and Geami brands; and cold chain products, which are used to provide insulation for temperature controlled goods during transport. It also provides end-of-line packaging automation for product distribution and shipping, as well as products that help end users automate the void filling and box closure processes after product packing is complete. The company sells its products to end users primarily through a distributor network and directly to end-users. The company was founded in 1972 and is headquartered in Concord Township, Ohio.

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