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Side-by-side financial comparison of Avery Dennison (AVY) and NCR Atleos Corp (NATL). 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 2.0× NCR Atleos Corp). Avery Dennison runs the higher net margin — 7.3% vs 7.2%, a 0.1% gap on every dollar of revenue. On growth, Avery Dennison posted the faster year-over-year revenue change (7.0% vs 4.0%). NCR Atleos Corp produced more free cash flow last quarter ($194.0M vs $104.4M). Over the past eight quarters, NCR Atleos Corp's revenue compounded faster (4.9% CAGR vs 1.4%).
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.
NCR Voyix Corporation, previously known as NCR Corporation and National Cash Register, is a global software, consulting and technology company providing several professional services and electronic products. It manufactured self-service kiosks, point-of-sale terminals, automated teller machines, check processing systems, and barcode scanners.
AVY vs NATL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.3B | $1.2B |
| Net Profit | $168.1M | $83.0M |
| Gross Margin | 28.9% | — |
| Operating Margin | 10.7% | 13.5% |
| Net Margin | 7.3% | 7.2% |
| Revenue YoY | 7.0% | 4.0% |
| Net Profit YoY | 1.1% | 102.4% |
| EPS (diluted) | — | $1.09 |
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 | $979.0M | ||
| Q4 24 | $2.2B | $1.1B | ||
| Q3 24 | $2.2B | $1.1B | ||
| Q2 24 | $2.2B | $1.1B |
| Q1 26 | $168.1M | — | ||
| Q4 25 | $166.4M | $83.0M | ||
| Q3 25 | $166.3M | $26.0M | ||
| Q2 25 | $189.0M | $39.0M | ||
| Q1 25 | $166.3M | $14.0M | ||
| Q4 24 | $174.0M | $41.0M | ||
| Q3 24 | $181.7M | $21.0M | ||
| Q2 24 | $176.8M | $27.0M |
| Q1 26 | 28.9% | — | ||
| Q4 25 | 28.7% | — | ||
| Q3 25 | 28.7% | — | ||
| Q2 25 | 28.8% | — | ||
| Q1 25 | 28.9% | — | ||
| Q4 24 | 27.9% | — | ||
| Q3 24 | 28.7% | — | ||
| Q2 24 | 29.6% | — |
| Q1 26 | 10.7% | — | ||
| Q4 25 | 9.1% | 13.5% | ||
| Q3 25 | 10.6% | 9.8% | ||
| Q2 25 | 11.5% | 10.8% | ||
| Q1 25 | 10.6% | 9.5% | ||
| Q4 24 | 11.0% | 13.4% | ||
| Q3 24 | 11.0% | 10.6% | ||
| Q2 24 | 10.7% | 9.8% |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 7.3% | 7.2% | ||
| Q3 25 | 7.5% | 2.3% | ||
| Q2 25 | 8.5% | 3.5% | ||
| Q1 25 | 7.7% | 1.4% | ||
| Q4 24 | 8.0% | 3.7% | ||
| Q3 24 | 8.3% | 2.0% | ||
| Q2 24 | 7.9% | 2.5% |
| Q1 26 | — | — | ||
| Q4 25 | $2.16 | $1.09 | ||
| Q3 25 | $2.13 | $0.34 | ||
| Q2 25 | $2.41 | $0.52 | ||
| Q1 25 | $2.09 | $0.19 | ||
| Q4 24 | $2.17 | $0.56 | ||
| Q3 24 | $2.25 | $0.28 | ||
| Q2 24 | $2.18 | $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 | $255.1M | $456.0M |
| Total DebtLower is stronger | $3.2B | $2.7B |
| Stockholders' EquityBook value | $2.3B | $403.0M |
| Total Assets | $9.0B | $5.7B |
| Debt / EquityLower = less leverage | 1.38× | 6.63× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $255.1M | — | ||
| Q4 25 | $202.8M | $456.0M | ||
| Q3 25 | $536.3M | $412.0M | ||
| Q2 25 | $215.9M | $357.0M | ||
| Q1 25 | $195.9M | $352.0M | ||
| Q4 24 | $329.1M | $419.0M | ||
| Q3 24 | $212.7M | $395.0M | ||
| Q2 24 | $208.8M | $374.0M |
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $2.7B | ||
| Q3 25 | $3.2B | $2.8B | ||
| Q2 25 | $2.6B | $2.8B | ||
| Q1 25 | $2.6B | — | ||
| Q4 24 | $2.6B | $2.9B | ||
| Q3 24 | $2.0B | — | ||
| Q2 24 | $2.0B | — |
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.2B | $403.0M | ||
| Q3 25 | $2.2B | $330.0M | ||
| Q2 25 | $2.2B | $350.0M | ||
| Q1 25 | $2.2B | $275.0M | ||
| Q4 24 | $2.3B | $219.0M | ||
| Q3 24 | $2.4B | $264.0M | ||
| Q2 24 | $2.3B | $250.0M |
| Q1 26 | $9.0B | — | ||
| Q4 25 | $8.8B | $5.7B | ||
| Q3 25 | $8.9B | $5.7B | ||
| Q2 25 | $8.6B | $5.8B | ||
| Q1 25 | $8.4B | $5.7B | ||
| Q4 24 | $8.4B | $5.5B | ||
| Q3 24 | $8.5B | $5.7B | ||
| Q2 24 | $8.3B | $5.8B |
| Q1 26 | 1.38× | — | ||
| Q4 25 | 1.43× | 6.63× | ||
| Q3 25 | 1.45× | 8.45× | ||
| Q2 25 | 1.19× | 8.05× | ||
| Q1 25 | 1.19× | — | ||
| Q4 24 | 1.11× | 13.05× | ||
| Q3 24 | 0.85× | — | ||
| Q2 24 | 0.89× | — |
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 | — | $231.0M |
| Free Cash FlowOCF − Capex | $104.4M | $194.0M |
| FCF MarginFCF / Revenue | 4.5% | 16.8% |
| Capex IntensityCapex / Revenue | — | 3.2% |
| Cash ConversionOCF / Net Profit | — | 2.78× |
| TTM Free Cash FlowTrailing 4 quarters | $869.1M | $239.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $376.8M | $231.0M | ||
| Q3 25 | $312.1M | $25.0M | ||
| Q2 25 | $208.8M | $-23.0M | ||
| Q1 25 | $-16.3M | $123.0M | ||
| Q4 24 | $351.2M | $80.0M | ||
| Q3 24 | $270.1M | $107.0M | ||
| Q2 24 | $197.7M | $9.0M |
| Q1 26 | $104.4M | — | ||
| Q4 25 | $309.7M | $194.0M | ||
| Q3 25 | $276.2M | $-5.0M | ||
| Q2 25 | $178.8M | $-44.0M | ||
| Q1 25 | $-52.3M | $94.0M | ||
| Q4 24 | $281.7M | $62.0M | ||
| Q3 24 | $227.1M | $85.0M | ||
| Q2 24 | $150.2M | $-14.0M |
| Q1 26 | 4.5% | — | ||
| Q4 25 | 13.6% | 16.8% | ||
| Q3 25 | 12.5% | -0.4% | ||
| Q2 25 | 8.1% | -4.0% | ||
| Q1 25 | -2.4% | 9.6% | ||
| Q4 24 | 12.9% | 5.6% | ||
| Q3 24 | 10.4% | 7.9% | ||
| Q2 24 | 6.7% | -1.3% |
| Q1 26 | — | — | ||
| Q4 25 | 3.0% | 3.2% | ||
| Q3 25 | 1.6% | 2.7% | ||
| Q2 25 | 1.4% | 1.9% | ||
| Q1 25 | 1.7% | 3.0% | ||
| Q4 24 | 3.2% | 1.6% | ||
| Q3 24 | 2.0% | 2.1% | ||
| Q2 24 | 2.1% | 2.1% |
| Q1 26 | — | — | ||
| Q4 25 | 2.26× | 2.78× | ||
| Q3 25 | 1.88× | 0.96× | ||
| Q2 25 | 1.10× | -0.59× | ||
| Q1 25 | -0.10× | 8.79× | ||
| Q4 24 | 2.02× | 1.95× | ||
| Q3 24 | 1.49× | 5.10× | ||
| Q2 24 | 1.12× | 0.33× |
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% |
NATL
| Services | $848.0M | 74% |
| APJ | $136.0M | 12% |
| Americas Excluding United States | $135.0M | 12% |
| TT | $44.0M | 4% |
