Ranpak Holdings Corp (PACK) vs TriMas Corporation (TRS)

Ranpak Holdings Corp and TriMas Corporation are both Packaging & Containers companies. TriMas Corporation is the larger, with a market value of $1.4B against $298.4M — 4.7× the size. Ranpak Holdings Corp has negative trailing earnings, so its P/E is not meaningful; TriMas Corporation trades at 1.6×. TriMas Corporation grew revenue faster over the last twelve months: 57.5% against 9.77%. TriMas Corporation has the higher net margin (117.9% vs −9.09%) and the higher return on invested capital (−0.77% vs −0.91%). Across the 19 metrics below, TriMas Corporation leads on 13 and Ranpak Holdings Corp on 6.

Valuation

Metric PACK TRS Packaging & Containers median
P/E n/m 1.61 17.11
P/S 0.71 1.81 0.87
P/B 0.57 0.96 1.66
Price to free cash flow 23.52 n/m 13.16
EV/EBITDA 11.71 11.61 9.21
EV/Sales 1.57 0.71 1.35
Earnings yield (12.72%) 62.09% 4.96%
Free cash flow yield 4.25% (0.82%) 6.15%

Profitability

Metric PACK TRS Packaging & Containers median
Gross margin 33.57% 22.28% 20.03%
Operating margin (3.06%) (0.95%) 8.36%
Net margin (9.09%) 117.92% 4.53%
Free cash flow margin 1.72% (1.48%) 5.14%
Return on equity (7.18%) 83.90% 11.28%
Return on assets (3.40%) 49.05% 4.29%
Return on invested capital (0.91%) (0.77%) 6.43%

Growth

Metric PACK TRS Packaging & Containers median
Revenue growth (TTM) 9.77% 57.49% 9.10%
EPS growth (last fiscal year) (95.65%) 400.00% 0.69%
Revenue growth, 5-year CAGR 5.78% (3.46%) 5.66%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric PACK TRS Packaging & Containers median
Debt to equity 0.77 0.28 0.78
Current ratio 1.79 5.44 1.29
Net debt to EBITDA 7.76 4.42 2.65

Dividend

Metric PACK TRS Packaging & Containers median
Dividend yield — 0.41% 3.14%
Payout ratio — 0.01 0.56

Size

Metric PACK TRS Packaging & Containers median
Market cap 298.44m 1.40b 3.71b

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