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 $286.5M — 4.7× the size. Ranpak Holdings Corp has negative trailing earnings, so its P/E is not meaningful; TriMas Corporation trades at 1.6×. Ranpak Holdings Corp grew revenue faster over the last twelve months: 8.27% against −5.54%. TriMas Corporation has the higher net margin (136.3% vs −8.28%) and the lower return on invested capital (−0.77% vs −0.51%). Across the 19 metrics below, TriMas Corporation leads on 10 and Ranpak Holdings Corp on 9.

Valuation

Metric PACK TRS Packaging & Containers median
P/E n/m 1.57 20.50
P/S 0.68 2.04 0.84
P/B 0.56 0.94 1.81
Price to free cash flow 14.80 n/m 13.39
EV/EBITDA 10.69 10.93 9.53
EV/Sales 1.52 0.77 1.39
Earnings yield (12.01%) 63.55% 2.89%
Free cash flow yield 6.76% (0.84%) 5.42%

Profitability

Metric PACK TRS Packaging & Containers median
Gross margin 33.84% 25.74% 20.09%
Operating margin (1.69%) (1.10%) 6.42%
Net margin (8.28%) 136.25% 3.43%
Free cash flow margin 3.31% (1.71%) 4.78%
Return on equity (6.62%) 83.90% 2.28%
Return on assets (3.13%) 49.05% 1.04%
Return on invested capital (0.51%) (0.77%) 4.57%

Growth

Metric PACK TRS Packaging & Containers median
Revenue growth (TTM) 8.27% (5.54%) 4.05%
EPS growth (last fiscal year) (73.08%) 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 0.79 0.28 0.79
Current ratio 1.79 5.44 1.29
Net debt to EBITDA 7.76 4.42 2.59

Dividend

Metric PACK TRS Packaging & Containers median
Dividend yield — 0.42% 3.38%
Payout ratio — 0.01 0.60

Size

Metric PACK TRS Packaging & Containers median
Market cap 286.52m 1.35b 3.71b

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