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Side-by-side financial comparison of Avery Dennison (AVY) and AMERICAN AXLE & MANUFACTURING HOLDINGS INC (AXL). Click either name above to swap in a different company.
Avery Dennison is the larger business by last-quarter revenue ($2.3B vs $1.4B, roughly 1.7× AMERICAN AXLE & MANUFACTURING HOLDINGS INC). Avery Dennison runs the higher net margin — 7.3% vs -5.4%, a 12.8% gap on every dollar of revenue. On growth, Avery Dennison posted the faster year-over-year revenue change (7.0% vs 0.2%). Avery Dennison produced more free cash flow last quarter ($104.4M vs $54.7M). Over the past eight quarters, Avery Dennison's revenue compounded faster (1.4% CAGR vs -7.2%).
Avery Dennison Corporation is an American multinational manufacturer and distributor of pressure-sensitive adhesive materials, apparel branding labels and tags, RFID inlays, and specialty medical products. The company is a member of the Fortune 500 and is headquartered in Mentor, Ohio.
American Axle & Manufacturing, Inc. (AAM), headquartered in Detroit, Michigan, is an American manufacturer of automobile driveline and drivetrain components and systems.
AVY vs AXL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.3B | $1.4B |
| Net Profit | $168.1M | $-75.3M |
| Gross Margin | 28.9% | 10.2% |
| Operating Margin | 10.7% | -2.4% |
| Net Margin | 7.3% | -5.4% |
| Revenue YoY | 7.0% | 0.2% |
| Net Profit YoY | 1.1% | -449.6% |
| EPS (diluted) | — | $-0.62 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | $1.4B | ||
| Q3 25 | $2.2B | $1.5B | ||
| Q2 25 | $2.2B | $1.5B | ||
| Q1 25 | $2.1B | $1.4B | ||
| Q4 24 | $2.2B | $1.4B | ||
| Q3 24 | $2.2B | $1.5B | ||
| Q2 24 | $2.2B | $1.6B |
| Q1 26 | $168.1M | — | ||
| Q4 25 | $166.4M | $-75.3M | ||
| Q3 25 | $166.3M | $9.2M | ||
| Q2 25 | $189.0M | $39.3M | ||
| Q1 25 | $166.3M | $7.1M | ||
| Q4 24 | $174.0M | $-13.7M | ||
| Q3 24 | $181.7M | $10.0M | ||
| Q2 24 | $176.8M | $18.2M |
| Q1 26 | 28.9% | — | ||
| Q4 25 | 28.7% | 10.2% | ||
| Q3 25 | 28.7% | 12.6% | ||
| Q2 25 | 28.8% | 13.1% | ||
| Q1 25 | 28.9% | 12.3% | ||
| Q4 24 | 27.9% | 11.2% | ||
| Q3 24 | 28.7% | 11.4% | ||
| Q2 24 | 29.6% | 13.3% |
| Q1 26 | 10.7% | — | ||
| Q4 25 | 9.1% | -2.4% | ||
| Q3 25 | 10.6% | 3.2% | ||
| Q2 25 | 11.5% | 3.6% | ||
| Q1 25 | 10.6% | 3.0% | ||
| Q4 24 | 11.0% | 2.6% | ||
| Q3 24 | 11.0% | 2.8% | ||
| Q2 24 | 10.7% | 5.3% |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 7.3% | -5.4% | ||
| Q3 25 | 7.5% | 0.6% | ||
| Q2 25 | 8.5% | 2.6% | ||
| Q1 25 | 7.7% | 0.5% | ||
| Q4 24 | 8.0% | -1.0% | ||
| Q3 24 | 8.3% | 0.7% | ||
| Q2 24 | 7.9% | 1.1% |
| Q1 26 | — | — | ||
| Q4 25 | $2.16 | $-0.62 | ||
| Q3 25 | $2.13 | $0.07 | ||
| Q2 25 | $2.41 | $0.32 | ||
| Q1 25 | $2.09 | $0.06 | ||
| Q4 24 | $2.17 | $-0.11 | ||
| Q3 24 | $2.25 | $0.08 | ||
| Q2 24 | $2.18 | $0.15 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $255.1M | $708.9M |
| Total DebtLower is stronger | $3.2B | $4.0B |
| Stockholders' EquityBook value | $2.3B | $640.0M |
| Total Assets | $9.0B | $6.7B |
| Debt / EquityLower = less leverage | 1.38× | 6.31× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $255.1M | — | ||
| Q4 25 | $202.8M | $708.9M | ||
| Q3 25 | $536.3M | $714.1M | ||
| Q2 25 | $215.9M | $586.5M | ||
| Q1 25 | $195.9M | $549.2M | ||
| Q4 24 | $329.1M | $552.9M | ||
| Q3 24 | $212.7M | $542.5M | ||
| Q2 24 | $208.8M | $519.9M |
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $4.0B | ||
| Q3 25 | $3.2B | $2.6B | ||
| Q2 25 | $2.6B | $2.6B | ||
| Q1 25 | $2.6B | $2.6B | ||
| Q4 24 | $2.6B | $2.6B | ||
| Q3 24 | $2.0B | $2.6B | ||
| Q2 24 | $2.0B | $2.7B |
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.2B | $640.0M | ||
| Q3 25 | $2.2B | $718.4M | ||
| Q2 25 | $2.2B | $673.0M | ||
| Q1 25 | $2.2B | $596.3M | ||
| Q4 24 | $2.3B | $562.8M | ||
| Q3 24 | $2.4B | $616.3M | ||
| Q2 24 | $2.3B | $609.6M |
| Q1 26 | $9.0B | — | ||
| Q4 25 | $8.8B | $6.7B | ||
| Q3 25 | $8.9B | $5.3B | ||
| Q2 25 | $8.6B | $5.3B | ||
| Q1 25 | $8.4B | $5.1B | ||
| Q4 24 | $8.4B | $5.1B | ||
| Q3 24 | $8.5B | $5.3B | ||
| Q2 24 | $8.3B | $5.3B |
| Q1 26 | 1.38× | — | ||
| Q4 25 | 1.43× | 6.31× | ||
| Q3 25 | 1.45× | 3.61× | ||
| Q2 25 | 1.19× | 3.86× | ||
| Q1 25 | 1.19× | 4.38× | ||
| Q4 24 | 1.11× | 4.58× | ||
| Q3 24 | 0.85× | 4.28× | ||
| Q2 24 | 0.89× | 4.42× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $120.5M |
| Free Cash FlowOCF − Capex | $104.4M | $54.7M |
| FCF MarginFCF / Revenue | 4.5% | 4.0% |
| Capex IntensityCapex / Revenue | — | 4.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $869.1M | $155.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $376.8M | $120.5M | ||
| Q3 25 | $312.1M | $143.3M | ||
| Q2 25 | $208.8M | $91.9M | ||
| Q1 25 | $-16.3M | $55.9M | ||
| Q4 24 | $351.2M | $151.2M | ||
| Q3 24 | $270.1M | $143.6M | ||
| Q2 24 | $197.7M | $142.8M |
| Q1 26 | $104.4M | — | ||
| Q4 25 | $309.7M | $54.7M | ||
| Q3 25 | $276.2M | $79.2M | ||
| Q2 25 | $178.8M | $34.6M | ||
| Q1 25 | $-52.3M | $-13.4M | ||
| Q4 24 | $281.7M | $73.2M | ||
| Q3 24 | $227.1M | $70.4M | ||
| Q2 24 | $150.2M | $94.0M |
| Q1 26 | 4.5% | — | ||
| Q4 25 | 13.6% | 4.0% | ||
| Q3 25 | 12.5% | 5.3% | ||
| Q2 25 | 8.1% | 2.3% | ||
| Q1 25 | -2.4% | -0.9% | ||
| Q4 24 | 12.9% | 5.3% | ||
| Q3 24 | 10.4% | 4.7% | ||
| Q2 24 | 6.7% | 5.8% |
| Q1 26 | — | — | ||
| Q4 25 | 3.0% | 4.8% | ||
| Q3 25 | 1.6% | 4.3% | ||
| Q2 25 | 1.4% | 3.7% | ||
| Q1 25 | 1.7% | 4.9% | ||
| Q4 24 | 3.2% | 5.6% | ||
| Q3 24 | 2.0% | 4.9% | ||
| Q2 24 | 2.1% | 3.0% |
| Q1 26 | — | — | ||
| Q4 25 | 2.26× | — | ||
| Q3 25 | 1.88× | 15.58× | ||
| Q2 25 | 1.10× | 2.34× | ||
| Q1 25 | -0.10× | 7.87× | ||
| Q4 24 | 2.02× | — | ||
| Q3 24 | 1.49× | 14.36× | ||
| Q2 24 | 1.12× | 7.85× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AVY
| Materials Group | $1.6B | 72% |
| Solutions Group | $649.2M | 28% |
AXL
| Driveline | $748.4M | 54% |
| Other | $345.7M | 25% |
| Metal Forming | $289.8M | 21% |
