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Ranpak Holdings (PACK) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · Ranpak Holdings (PACK) Q3 2026 earnings results →

Q3 2026 Revenue up 2% year over year to $102M · 7¢ of every $1 of revenue lost · operating margin 0.0%

Ranpak Holdings made $102M in Q3 2026 (+2% Y/Y). Operating margin 0.0%, net loss $7.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.

Revenue$102M
Year over year+2%
Operating margin0.0%
Net earnings−$7.2M
Operating cash flow$17.7M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $101.9M in Q3 2026, up 2% year over year and down 3% from the previous quarter.

Gross margin was 35.6%, up 1.1 points from Q3 2025. Operating profit was $0K, a 0.0% margin (up 5.7 points year over year). Operating expenses fell 9% while revenue rose 2%. The quarter ended with a net loss of $7.2M, narrower than the previous quarter's $7.9M loss. Net interest and other expense of $9.0M was the main reason.

Operating cash flow was $17.7M (up 108% year over year). Non-cash charges added back $16.0M of depreciation and amortization and $1.2M of share-based compensation. Working capital and other items added $7.7M. Capital expenditures of $4.4M left free cash flow of $13.3M.

Quarterly history

Ranpak Holdings revenue by quarterRanpak Holdings revenue by quarter$91.2MQ1 2025$92.3MQ2 2025$99.6MQ3 2025$112MQ4 2025$101MQ1 2026$105MQ2 2026$102MQ3 2026
Ranpak Holdings net earnings by quarterRanpak Holdings net earnings by quarter−$10.9MQ1 2025−$7.5MQ2 2025−$10.4MQ3 2025−$9.5MQ4 2025−$10.2MQ1 2026−$7.9MQ2 2026−$7.2MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 29, 2026$102M+2%0.0%−$7.2M$17.7M
Q2 202610-QJul 30, 2026$105M+14%-2.3%−$7.9M$2.7M
Q1 202610-QApr 30, 2026$101M+11%-3.8%−$10.2M$4.4M
Q4 202510-KMar 5, 2026$112M+7%-0.8%−$9.5M$19.5M
Q3 202510-QOct 30, 2025$99.6M+8%-5.7%−$10.4M$8.5M
Q2 202510-QAug 5, 2025$92.3M+7%-10.5%−$7.5M−$3.6M
Q1 202510-QMay 6, 2025$91.2M+7%-8.8%−$10.9M−$1.3M

Charts

Ranpak Holdings: revenue growth, year over year and quarter over quarterRanpak Holdings: revenue growth, year over year and quarter over quarterY/YQ/Q+7%Q1 2025+7%+1%Q2 2025+8%+8%Q3 2025+7%+12%Q4 2025+11%-10%Q1 2026+14%+4%Q2 2026+2%-3%Q3 2026
Latest (Q3 2026): Y/Y +2%, Q/Q -3%.
Ranpak Holdings: where the cash came from (+) and went (−), TTM to Q3 2026Ranpak Holdings: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$44.3MOther investing−$32.6MCapital spending−$7.8MCash drawn (+) / kept (−)−$3.5MNot reconciled−$500KOther financing$100K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Ranpak Holdings: profit against cash, quarter by quarterRanpak Holdings: profit against cash, quarter by quarterNet incomeOperating cash flow−$10.8M$6.5MQ4 2024−$10.9M−$1.3MQ1 2025−$7.5M−$3.6MQ2 2025−$10.4M$8.5MQ3 2025−$9.5M$19.5MQ4 2025−$10.2M$4.4MQ1 2026−$7.9M$2.7MQ2 2026−$7.2M$17.7MQ3 2026
Latest (Q3 2026): Net income −$7.2M, Operating cash flow $17.7M.
Ranpak Holdings: diluted shares by fiscal yearRanpak Holdings: diluted shares by fiscal year72MFY202079MFY202182MFY202282MFY202383MFY202484MFY2025
+16.2% since FY2020: more shares outstanding (issuance, stock pay).

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Buys from

About Ranpak Holdings

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. All of our packaging solutions are 100% recyclable, renewable, and biodegradable. Our automation solutions reduce packing time and materials, resulting in significant cost savings for our customers. We continue to work to respond to customer needs and develop innovative products and a comprehensive suite of solutions that improve supply chain performance, reduce costs and environmental impact, and deliver value.

In its own words, from its 10-K, filed Mar 5, 2026.

Ranpak Holdings against its Converted Paper & Paperboard Prods (No Contaners/Boxes) peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +2% against the peers' median +2%. Operating margin: 0.0% against the peers' median 10.3%.

CompanyQuarterRevenueY/YOp. margin
PACK Ranpak HoldingsQ3 2026$102M+2%0.0%
KMB Kimberly ClarkQ3 2026$4.1B-0.4%12.5%
AVY Avery DennisonQ3 2026$2.3B+5%10.3%

Source: Ranpak Holdings 10-Q on SEC EDGAR · CIK 1712463 · Converted Paper & Paperboard Prods (No Contaners/Boxes)

13F: who owns PACK and who is buying

Largest holders of PACK (13F)Largest holders of PACK (13F)JS Capital Management LLC$223MSoros Capital Management LLC$33.8MBlackRock$26.1MDimensional Fund Advisors LP$23.2MSchusterman Interests, LLC$22.1MPetrus Trust Company, LTA$19.8MFirst Eagle Investment Management…$15.6MVanguard Capital Management LLC$14.8MVanguard Group$14.3MPortolan Capital Management, LLC$13.9M
Funds' net buying of PACK by quarter (13F)Funds' net buying of PACK by quarter (13F)$291K2024-09$6.0M2024-12$8.4M2025-03−$9.7M2025-06$23.9M2025-09$17.7M2025-12$2.7M2026-03−$6.9M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on PACK

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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