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Side-by-side financial comparison of Avery Dennison (AVY) and IT TECH PACKAGING, INC. (ITP). Click either name above to swap in a different company.
Avery Dennison is the larger business by last-quarter revenue ($2.3B vs $25.6M, roughly 88.7× IT TECH PACKAGING, INC.). Avery Dennison runs the higher net margin — 7.3% vs -5.7%, a 13.0% gap on every dollar of revenue. On growth, Avery Dennison posted the faster year-over-year revenue change (3.9% vs 2.1%). Avery Dennison produced more free cash flow last quarter ($309.7M vs $1.5M). Over the past eight quarters, IT TECH PACKAGING, INC.'s revenue compounded faster (10.5% CAGR vs 2.7%).
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.
IT TECH PACKAGING, INC. is a paper manufacturing enterprise primarily operating in China. It produces and distributes a diverse portfolio of paper products including corrugated packaging paper, boxboard, and printing-use cultural paper, serving sectors such as consumer goods packaging, logistics, and commercial printing across its core market.
AVY vs ITP — Head-to-Head
Income Statement — Q4 2025 vs Q3 2025
| Metric | | |
|---|---|---|
| Revenue | $2.3B | $25.6M |
| Net Profit | $166.4M | $-1.4M |
| Gross Margin | 28.7% | 7.9% |
| Operating Margin | 9.1% | -3.9% |
| Net Margin | 7.3% | -5.7% |
| Revenue YoY | 3.9% | 2.1% |
| Net Profit YoY | -4.4% | 26.6% |
| EPS (diluted) | $2.16 | $-0.11 |
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.
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.2B | $25.6M | ||
| Q2 25 | $2.2B | $24.8M | ||
| Q1 25 | $2.1B | $10.9M | ||
| Q4 24 | $2.2B | $17.6M | ||
| Q3 24 | $2.2B | $25.1M | ||
| Q2 24 | $2.2B | $26.2M | ||
| Q1 24 | $2.2B | $6.9M |
| Q4 25 | $166.4M | — | ||
| Q3 25 | $166.3M | $-1.4M | ||
| Q2 25 | $189.0M | $-2.0M | ||
| Q1 25 | $166.3M | $-3.5M | ||
| Q4 24 | $174.0M | $-4.0M | ||
| Q3 24 | $181.7M | $-2.0M | ||
| Q2 24 | $176.8M | $-77.7K | ||
| Q1 24 | $172.4M | $-3.7M |
| Q4 25 | 28.7% | — | ||
| Q3 25 | 28.7% | 7.9% | ||
| Q2 25 | 28.8% | 5.1% | ||
| Q1 25 | 28.9% | 0.8% | ||
| Q4 24 | 27.9% | 6.3% | ||
| Q3 24 | 28.7% | 7.6% | ||
| Q2 24 | 29.6% | 12.4% | ||
| Q1 24 | 29.4% | 5.8% |
| Q4 25 | 9.1% | — | ||
| Q3 25 | 10.6% | -3.9% | ||
| Q2 25 | 11.5% | -7.1% | ||
| Q1 25 | 10.6% | -31.0% | ||
| Q4 24 | 11.0% | -21.5% | ||
| Q3 24 | 11.0% | -5.8% | ||
| Q2 24 | 10.7% | 2.1% | ||
| Q1 24 | 10.9% | -51.0% |
| Q4 25 | 7.3% | — | ||
| Q3 25 | 7.5% | -5.7% | ||
| Q2 25 | 8.5% | -7.9% | ||
| Q1 25 | 7.7% | -32.2% | ||
| Q4 24 | 8.0% | -22.9% | ||
| Q3 24 | 8.3% | -7.9% | ||
| Q2 24 | 7.9% | -0.3% | ||
| Q1 24 | 8.0% | -54.6% |
| Q4 25 | $2.16 | — | ||
| Q3 25 | $2.13 | $-0.11 | ||
| Q2 25 | $2.41 | $-0.16 | ||
| Q1 25 | $2.09 | $-0.35 | ||
| Q4 24 | $2.17 | $-0.40 | ||
| Q3 24 | $2.25 | $-0.20 | ||
| Q2 24 | $2.18 | $-0.01 | ||
| Q1 24 | $2.13 | $-0.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $202.8M | — |
| Total DebtLower is stronger | $3.2B | $4.7M |
| Stockholders' EquityBook value | $2.2B | $152.0M |
| Total Assets | $8.8B | $175.7M |
| Debt / EquityLower = less leverage | 1.43× | 0.03× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $202.8M | — | ||
| Q3 25 | $536.3M | — | ||
| Q2 25 | $215.9M | — | ||
| Q1 25 | $195.9M | — | ||
| Q4 24 | $329.1M | — | ||
| Q3 24 | $212.7M | — | ||
| Q2 24 | $208.8M | — | ||
| Q1 24 | $185.7M | — |
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.2B | $4.7M | ||
| Q2 25 | $2.6B | $4.7M | ||
| Q1 25 | $2.6B | $4.7M | ||
| Q4 24 | $2.6B | $4.7M | ||
| Q3 24 | $2.0B | $8.9M | ||
| Q2 24 | $2.0B | $11.3M | ||
| Q1 24 | $2.1B | $11.4M |
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.2B | $152.0M | ||
| Q2 25 | $2.2B | $152.3M | ||
| Q1 25 | $2.2B | $152.8M | ||
| Q4 24 | $2.3B | $156.1M | ||
| Q3 24 | $2.4B | $164.3M | ||
| Q2 24 | $2.3B | $163.5M | ||
| Q1 24 | $2.2B | $164.3M |
| Q4 25 | $8.8B | — | ||
| Q3 25 | $8.9B | $175.7M | ||
| Q2 25 | $8.6B | $175.2M | ||
| Q1 25 | $8.4B | $175.2M | ||
| Q4 24 | $8.4B | $177.5M | ||
| Q3 24 | $8.5B | $190.0M | ||
| Q2 24 | $8.3B | $191.4M | ||
| Q1 24 | $8.3B | $177.5M |
| Q4 25 | 1.43× | — | ||
| Q3 25 | 1.45× | 0.03× | ||
| Q2 25 | 1.19× | 0.03× | ||
| Q1 25 | 1.19× | 0.03× | ||
| Q4 24 | 1.11× | 0.03× | ||
| Q3 24 | 0.85× | 0.05× | ||
| Q2 24 | 0.89× | 0.07× | ||
| Q1 24 | 0.94× | 0.07× |
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 | $376.8M | $1.5M |
| Free Cash FlowOCF − Capex | $309.7M | $1.5M |
| FCF MarginFCF / Revenue | 13.6% | 5.9% |
| Capex IntensityCapex / Revenue | 3.0% | 0.0% |
| Cash ConversionOCF / Net Profit | 2.26× | — |
| TTM Free Cash FlowTrailing 4 quarters | $712.4M | $3.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $376.8M | — | ||
| Q3 25 | $312.1M | $1.5M | ||
| Q2 25 | $208.8M | $1.4M | ||
| Q1 25 | $-16.3M | $-2.5M | ||
| Q4 24 | $351.2M | $3.5M | ||
| Q3 24 | $270.1M | $1.5M | ||
| Q2 24 | $197.7M | $721.9K | ||
| Q1 24 | $119.8M | $624.4K |
| Q4 25 | $309.7M | — | ||
| Q3 25 | $276.2M | $1.5M | ||
| Q2 25 | $178.8M | $1.3M | ||
| Q1 25 | $-52.3M | $-2.5M | ||
| Q4 24 | $281.7M | $3.5M | ||
| Q3 24 | $227.1M | $1.2M | ||
| Q2 24 | $150.2M | $668.3K | ||
| Q1 24 | $71.0M | $615.4K |
| Q4 25 | 13.6% | — | ||
| Q3 25 | 12.5% | 5.9% | ||
| Q2 25 | 8.1% | 5.4% | ||
| Q1 25 | -2.4% | -22.8% | ||
| Q4 24 | 12.9% | 19.6% | ||
| Q3 24 | 10.4% | 4.9% | ||
| Q2 24 | 6.7% | 2.5% | ||
| Q1 24 | 3.3% | 9.0% |
| Q4 25 | 3.0% | — | ||
| Q3 25 | 1.6% | 0.0% | ||
| Q2 25 | 1.4% | 0.1% | ||
| Q1 25 | 1.7% | 0.1% | ||
| Q4 24 | 3.2% | 0.1% | ||
| Q3 24 | 2.0% | 1.0% | ||
| Q2 24 | 2.1% | 0.2% | ||
| Q1 24 | 2.3% | 0.1% |
| Q4 25 | 2.26× | — | ||
| Q3 25 | 1.88× | — | ||
| Q2 25 | 1.10× | — | ||
| Q1 25 | -0.10× | — | ||
| Q4 24 | 2.02× | — | ||
| Q3 24 | 1.49× | — | ||
| Q2 24 | 1.12× | — | ||
| Q1 24 | 0.69× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AVY
| Other | $1.1B | 47% |
| Materials Group Segment | $475.0M | 21% |
| Apparel And Other | $460.8M | 20% |
| Identification Solutions And Vestcom | $263.4M | 12% |
ITP
Segment breakdown not available.
