Graphic Packaging Holding Company (GPK) vs Ranpak Holdings Corp (PACK)

Graphic Packaging Holding Company and Ranpak Holdings Corp are both Packaging & Containers companies. Graphic Packaging Holding Company is the larger, with a market value of $2.8B against $361.9M — 7.7× the size. Ranpak Holdings Corp has negative trailing earnings, so its P/E is not meaningful; Graphic Packaging Holding Company trades at 14.2×. Ranpak Holdings Corp grew revenue faster over the last twelve months: 9.77% against 0.02%. Graphic Packaging Holding Company has the higher net margin (2.25% vs −9.09%) and the higher return on invested capital (3.62% vs −0.91%). Across the 21 metrics below, Graphic Packaging Holding Company leads on 15 and Ranpak Holdings Corp on 6.

Valuation

Metric GPK PACK Packaging & Containers median
P/E 14.21 n/m 15.79
P/S 0.32 0.90 0.88
P/B 0.86 0.72 1.60
Price to free cash flow 14.72 29.84 13.41
EV/EBITDA 7.71 13.13 9.04
EV/Sales 0.95 1.76 1.31
Earnings yield 7.04% (10.02%) 5.04%
Free cash flow yield 6.79% 3.35% 6.34%

Profitability

Metric GPK PACK Packaging & Containers median
Gross margin 15.46% 33.57% 20.03%
Operating margin 5.84% (3.06%) 8.36%
Net margin 2.25% (9.09%) 4.53%
Free cash flow margin 2.19% 1.72% 5.14%
Return on equity 6.01% (7.18%) 11.28%
Return on assets 1.65% (3.40%) 4.29%
Return on invested capital 3.62% (0.91%) 6.43%

Growth

Metric GPK PACK Packaging & Containers median
Revenue growth (TTM) 0.02% 9.77% 9.10%
EPS growth (last fiscal year) (31.48%) (95.65%) —
Revenue growth, 5-year CAGR 5.61% 5.78% 5.66%
Net income growth, 5-year CAGR 21.60% 0.00% 0.00%

Health

Metric GPK PACK Packaging & Containers median
Debt to equity 1.75 0.77 0.78
Current ratio 1.38 1.79 1.29
Net debt to EBITDA 3.95 7.76 2.65

Dividend

Metric GPK PACK Packaging & Containers median
Dividend yield 1.60% — 2.79%
Payout ratio 0.16 0.00 0.28

Size

Metric GPK PACK Packaging & Containers median
Market cap 2.77b 361.90m 3.71b

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