Ranpak Holdings Corp — Earnings Quality Grade F
PACK · Consumer Cyclical
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 44 days, change +1 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 7.1%, CFFO -44.2%. Cash follows revenue
Expense Quality
Inventory growth 41.0% exceeds COGS 15.4%
CapEx growth -8.5% vs revenue 7.1%. Normal
SG&A/Gross Profit = 87.6%, exceeds 70%
Gross margin 33.1%, change -4.8pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.
FCF is negative ($-0.0B)
Accruals ratio = -5.5%. Low accruals
Cash $0.1B covers only 15% of debt $0.4B
Balance Sheet Health
Goodwill+Intangibles $0.7B = 140% of equity. Over 50%
Debt/EBITDA = 8.0x (>4x). Interest coverage = -0.7x (<2x). Financial stress
Other assets grew 53.2% vs revenue 7.1%
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
Goodwill+Intangibles change -1% YoY. Normal
Manipulation Score
M-Score = -2.58 (< -2.22). Unlikely manipulator
Portfolio monitoring
Monitor PACK continuously
The full checks and model details are free to read. Use Watchlist to track your holdings; Pro adds automatic quarterly rescoring, risk-event email alerts, scans up to 50 tickers, and export workflows.
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25