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IT Tech Packaging vs Ranpak: revenue, profit, margins and growth compared

IT Tech Packaging brought in $75.8M of revenue in fiscal 2024, Ranpak $395M in fiscal 2025. Revenue changed by -12.4% at IT Tech Packaging and +7.1% at Ranpak on the year before, so Ranpak grew faster. IT Tech Packaging kept -13.0% of its revenue as net profit, Ranpak -9.7%.

Side by side, latest fiscal year

ITPPACK
Fiscal year endedFY2024 (December 31, 2024)FY2025 (December 31, 2025)
Revenue$75.8M$395M
Revenue growth-12.4%+7.1%
Net income-$9.8M-$38.3M
Net margin-13.0%-9.7%
Free cash flow$6Mn/a
Free cash flow margin7.9%n/a
Earnings per share (diluted)-$0.98-$0.45
Cash$7M$63M
Debt$4.7M$401.9M
Price to earningsn/an/a
Market value$2.6M$376.5M
Dividend yieldn/an/a
Rank by revenue in sector#742 of 955 · Consumer discretionary#595 of 955 · Consumer discretionary

Over the years

Revenue
ITP FY2017: $117MITP FY2018: $86.7MITP FY2019: $117.6MITP FY2020: $100.9MITP FY2021: $160.9MITP FY2022: $100.4MITP FY2023: $86.5MITP FY2024: $75.8MPACK FY2018: $244.1MPACK FY2018: $267.9MPACK FY2020: $298.2MPACK FY2021: $383.9MPACK FY2022: $326.5MPACK FY2023: $336.3MPACK FY2024: $368.9MPACK FY2025: $395MFY17FY18FY19FY20FY21FY22FY23FY24FY25
ITP $75.8MPACK $395M
Net income
ITP FY2017: $1.7MITP FY2018: -$10.5MITP FY2019: $2.2MITP FY2020: -$5.6MITP FY2021: $905.5KITP FY2022: -$16.6MITP FY2023: -$9.9MITP FY2024: -$9.8MPACK FY2018: $27.7MPACK FY2018: -$8.6MPACK FY2020: -$23.4MPACK FY2021: -$2.8MPACK FY2022: -$41.4MPACK FY2023: -$27.1MPACK FY2024: -$21.5MPACK FY2025: -$38.3MFY17FY18FY19FY20FY21FY22FY23FY24FY25
ITP -$9.8MPACK -$38.3M
Net margin
ITP FY2017: 1.4%ITP FY2018: -12.2%ITP FY2019: 1.9%ITP FY2020: -5.5%ITP FY2021: 0.6%ITP FY2022: -16.5%ITP FY2023: -11.5%ITP FY2024: -13.0%PACK FY2018: 11.3%PACK FY2018: -3.2%PACK FY2020: -7.8%PACK FY2021: -0.7%PACK FY2022: -12.7%PACK FY2023: -8.1%PACK FY2024: -5.8%PACK FY2025: -9.7%FY17FY18FY19FY20FY21FY22FY23FY24FY25
ITP -13.0%PACK -9.7%
Revenue growth
ITP FY2018: -25.9%ITP FY2019: +35.6%ITP FY2020: -14.2%ITP FY2021: +59.4%ITP FY2022: -37.6%ITP FY2023: -13.8%ITP FY2024: -12.4%PACK FY2018: +9.8%PACK FY2021: +28.7%PACK FY2022: -15.0%PACK FY2023: +3.0%PACK FY2024: +9.7%PACK FY2025: +7.1%FY18FY19FY20FY21FY22FY23FY24FY25
ITP -12.4%PACK +7.1%
Free cash flow
ITP FY2017: $8.8MITP FY2018: $7MITP FY2019: $1.1MITP FY2020: -$5MITP FY2021: -$27.5MITP FY2022: $6.2MITP FY2023: -$9.4MITP FY2024: $6MPACK FY2018: $19.2MPACK FY2018: $17.2MPACK FY2020: $31.5MPACK FY2021: -$200KPACK FY2022: -$43.7MPACK FY2023: -$2.7MFY17FY18FY19FY20FY21FY22FY23FY24
ITP $6MPACK -$2.7M

Fiscal years as each company reports them; the two may end in different months.

Questions about IT Tech Packaging and Ranpak

Which is bigger by revenue, IT Tech Packaging or Ranpak?

Ranpak is bigger by revenue: $395M in fiscal 2025, against $75.8M for IT Tech Packaging in fiscal 2024.

Which keeps more of its revenue as profit, IT Tech Packaging or Ranpak?

IT Tech Packaging had a net margin of -13.0% in fiscal 2024; Ranpak had -9.7% in fiscal 2025.

Which grew revenue faster, IT Tech Packaging or Ranpak?

In their latest fiscal years revenue changed by -12.4% at IT Tech Packaging and +7.1% at Ranpak.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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