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Side-by-side financial comparison of Avery Dennison (AVY) and Microchip Technology (MCHP). Click either name above to swap in a different company.
Avery Dennison is the larger business by last-quarter revenue ($2.3B vs $1.2B, roughly 1.9× Microchip Technology). Avery Dennison runs the higher net margin — 7.3% vs 5.3%, a 2.0% gap on every dollar of revenue. On growth, Microchip Technology posted the faster year-over-year revenue change (15.6% vs 7.0%). Microchip Technology produced more free cash flow last quarter ($318.9M vs $104.4M). Over the past eight quarters, Avery Dennison's revenue compounded faster (1.4% CAGR vs -5.4%).
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.
Microchip Technology Incorporated is an American publicly traded semiconductor corporation that manufactures microcontroller, mixed-signal, analog, and Flash-IP integrated circuits.
AVY vs MCHP — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.3B | $1.2B |
| Net Profit | $168.1M | $62.7M |
| Gross Margin | 28.9% | 59.6% |
| Operating Margin | 10.7% | 12.8% |
| Net Margin | 7.3% | 5.3% |
| Revenue YoY | 7.0% | 15.6% |
| Net Profit YoY | 1.1% | 217.0% |
| EPS (diluted) | — | $0.06 |
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 | $1.2B | ||
| Q3 25 | $2.2B | $1.1B | ||
| Q2 25 | $2.2B | $1.1B | ||
| Q1 25 | $2.1B | $970.5M | ||
| Q4 24 | $2.2B | $1.0B | ||
| Q3 24 | $2.2B | $1.2B | ||
| Q2 24 | $2.2B | $1.2B |
| Q1 26 | $168.1M | — | ||
| Q4 25 | $166.4M | $62.7M | ||
| Q3 25 | $166.3M | $41.7M | ||
| Q2 25 | $189.0M | $-18.6M | ||
| Q1 25 | $166.3M | $-154.6M | ||
| Q4 24 | $174.0M | $-53.6M | ||
| Q3 24 | $181.7M | $78.4M | ||
| Q2 24 | $176.8M | $129.3M |
| Q1 26 | 28.9% | — | ||
| Q4 25 | 28.7% | 59.6% | ||
| Q3 25 | 28.7% | 55.9% | ||
| Q2 25 | 28.8% | 53.6% | ||
| Q1 25 | 28.9% | 51.6% | ||
| Q4 24 | 27.9% | 54.7% | ||
| Q3 24 | 28.7% | 57.4% | ||
| Q2 24 | 29.6% | 59.4% |
| Q1 26 | 10.7% | — | ||
| Q4 25 | 9.1% | 12.8% | ||
| Q3 25 | 10.6% | 7.8% | ||
| Q2 25 | 11.5% | 3.0% | ||
| Q1 25 | 10.6% | -10.3% | ||
| Q4 24 | 11.0% | 3.0% | ||
| Q3 24 | 11.0% | 12.6% | ||
| Q2 24 | 10.7% | 17.7% |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 7.3% | 5.3% | ||
| Q3 25 | 7.5% | 3.7% | ||
| Q2 25 | 8.5% | -1.7% | ||
| Q1 25 | 7.7% | -15.9% | ||
| Q4 24 | 8.0% | -5.2% | ||
| Q3 24 | 8.3% | 6.7% | ||
| Q2 24 | 7.9% | 10.4% |
| Q1 26 | — | — | ||
| Q4 25 | $2.16 | $0.06 | ||
| Q3 25 | $2.13 | $0.03 | ||
| Q2 25 | $2.41 | $-0.09 | ||
| Q1 25 | $2.09 | $-0.29 | ||
| Q4 24 | $2.17 | $-0.10 | ||
| Q3 24 | $2.25 | $0.14 | ||
| Q2 24 | $2.18 | $0.24 |
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 | $250.7M |
| Total DebtLower is stronger | $3.2B | $5.4B |
| Stockholders' EquityBook value | $2.3B | $6.6B |
| Total Assets | $9.0B | $14.3B |
| Debt / EquityLower = less leverage | 1.38× | 0.82× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $255.1M | — | ||
| Q4 25 | $202.8M | $250.7M | ||
| Q3 25 | $536.3M | $236.8M | ||
| Q2 25 | $215.9M | $566.5M | ||
| Q1 25 | $195.9M | $771.7M | ||
| Q4 24 | $329.1M | $586.0M | ||
| Q3 24 | $212.7M | $286.1M | ||
| Q2 24 | $208.8M | $315.1M |
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $5.4B | ||
| Q3 25 | $3.2B | $5.4B | ||
| Q2 25 | $2.6B | $5.5B | ||
| Q1 25 | $2.6B | $5.6B | ||
| Q4 24 | $2.6B | $6.7B | ||
| Q3 24 | $2.0B | $6.4B | ||
| Q2 24 | $2.0B | $6.2B |
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.2B | $6.6B | ||
| Q3 25 | $2.2B | $6.7B | ||
| Q2 25 | $2.2B | $6.9B | ||
| Q1 25 | $2.2B | $7.1B | ||
| Q4 24 | $2.3B | $6.0B | ||
| Q3 24 | $2.4B | $6.3B | ||
| Q2 24 | $2.3B | $6.4B |
| Q1 26 | $9.0B | — | ||
| Q4 25 | $8.8B | $14.3B | ||
| Q3 25 | $8.9B | $14.5B | ||
| Q2 25 | $8.6B | $15.0B | ||
| Q1 25 | $8.4B | $15.4B | ||
| Q4 24 | $8.4B | $15.6B | ||
| Q3 24 | $8.5B | $15.6B | ||
| Q2 24 | $8.3B | $15.8B |
| Q1 26 | 1.38× | — | ||
| Q4 25 | 1.43× | 0.82× | ||
| Q3 25 | 1.45× | 0.80× | ||
| Q2 25 | 1.19× | 0.80× | ||
| Q1 25 | 1.19× | 0.80× | ||
| Q4 24 | 1.11× | 1.12× | ||
| Q3 24 | 0.85× | 1.02× | ||
| Q2 24 | 0.89× | 0.96× |
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 | — | $341.4M |
| Free Cash FlowOCF − Capex | $104.4M | $318.9M |
| FCF MarginFCF / Revenue | 4.5% | 26.9% |
| Capex IntensityCapex / Revenue | — | 1.9% |
| Cash ConversionOCF / Net Profit | — | 5.44× |
| TTM Free Cash FlowTrailing 4 quarters | $869.1M | $819.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $376.8M | $341.4M | ||
| Q3 25 | $312.1M | $88.1M | ||
| Q2 25 | $208.8M | $275.6M | ||
| Q1 25 | $-16.3M | $205.9M | ||
| Q4 24 | $351.2M | $271.5M | ||
| Q3 24 | $270.1M | $43.6M | ||
| Q2 24 | $197.7M | $377.1M |
| Q1 26 | $104.4M | — | ||
| Q4 25 | $309.7M | $318.9M | ||
| Q3 25 | $276.2M | $51.6M | ||
| Q2 25 | $178.8M | $257.7M | ||
| Q1 25 | $-52.3M | $191.7M | ||
| Q4 24 | $281.7M | $253.4M | ||
| Q3 24 | $227.1M | $22.8M | ||
| Q2 24 | $150.2M | $304.2M |
| Q1 26 | 4.5% | — | ||
| Q4 25 | 13.6% | 26.9% | ||
| Q3 25 | 12.5% | 4.5% | ||
| Q2 25 | 8.1% | 24.0% | ||
| Q1 25 | -2.4% | 19.8% | ||
| Q4 24 | 12.9% | 24.7% | ||
| Q3 24 | 10.4% | 2.0% | ||
| Q2 24 | 6.7% | 24.5% |
| Q1 26 | — | — | ||
| Q4 25 | 3.0% | 1.9% | ||
| Q3 25 | 1.6% | 3.2% | ||
| Q2 25 | 1.4% | 1.7% | ||
| Q1 25 | 1.7% | 1.5% | ||
| Q4 24 | 3.2% | 1.8% | ||
| Q3 24 | 2.0% | 1.8% | ||
| Q2 24 | 2.1% | 5.9% |
| Q1 26 | — | — | ||
| Q4 25 | 2.26× | 5.44× | ||
| Q3 25 | 1.88× | 2.11× | ||
| Q2 25 | 1.10× | — | ||
| Q1 25 | -0.10× | — | ||
| Q4 24 | 2.02× | — | ||
| Q3 24 | 1.49× | 0.56× | ||
| Q2 24 | 1.12× | 2.92× |
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% |
MCHP
| Mixed Signal Microcontrollers | $586.5M | 49% |
| Analog | $322.9M | 27% |
| Other Product Line | $276.6M | 23% |
