Ranpak Holdings Corp. (PACK) intrinsic value & 10-year financials

Ranpak Holdings Corp. (PACK) has a Graham intrinsic value of $488,825.63 per share. At $3.46 on Oct 17, 2026, the stock trades 100% below that value. Over the last 10 fiscal years revenue grew 5.9% a year to $332.7M, with an average return on invested capital of 1.8%.

Graham intrinsic value
$488,825.63
Share price (Oct 17, 2026)
$3.46
Price vs Graham value
100% below
Market cap
$291.3M
Revenue (FY2025)
$332.7M
Revenue growth (10-yr CAGR)
5.9%
ROIC (10-yr avg)
1.8%
Free cash flow (FY2025)
—

PACK 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $332.7M -$38.3M -$0.45 — -7.3% -2.2%
FY2024 $315.5M -$21.5M -$0.26 — -4.1% -1.3%
FY2023 $284.8M -$27.1M -$0.33 -$2.7M -2.6% -0.7%
FY2022 $276.4M -$41.4M -$0.51 -$43.7M -15.4% -3.3%
FY2021 $383.9M -$2.8M -$0.04 -$200.0K 3.2% 0.8%
FY2020 $298.2M -$23.4M -$0.32 $31.5M 3.9% 1.2%
FY2019 — — — — — —
FY2018 $229.2M $1.4M -$8,697.61 -$26.0M 4.8% 1.1%
FY2017 $209.7M $27.7M $27,801.44 $19.2M 14.9% 18.9%
FY2016 — — — — — —

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

Ranpak Holdings Corp. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

Ranpak Holdings Corp. has historically struggled to out-earn its cost of capital, averaging just 1.8% ROIC.

Ranpak Holdings Corp. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, Ranpak Holdings Corp. is modeled at 5.9% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $488825.63 per share.

PACK stock: frequently asked questions

What is the intrinsic value of Ranpak Holdings Corp. (PACK) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 5.9% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, PACK's intrinsic value is about $488,825.63 per share.

Is PACK stock undervalued?

At $3.46 (close on Oct 17, 2026), PACK trades 100% below its Graham value of $488,825.63. On Graham's terms that leaves a margin of safety. A formula is a starting point for research, not a recommendation.

What is PACK's return on invested capital?

Average ROIC over the last 10 fiscal years was 1.8%, and average return on equity was 7.7%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this PACK data come from?

From Ranpak Holdings Corp.'s annual 10-K filings on SEC EDGAR. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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