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Side-by-side financial comparison of Avery Dennison (AVY) and OPEN TEXT CORP (OTEX). Click either name above to swap in a different company.
Avery Dennison is the larger business by last-quarter revenue ($2.3B vs $1.3B, roughly 1.7× OPEN TEXT CORP). OPEN TEXT CORP runs the higher net margin — 12.7% vs 7.3%, a 5.4% gap on every dollar of revenue. On growth, Avery Dennison posted the faster year-over-year revenue change (7.0% vs -0.6%). OPEN TEXT CORP produced more free cash flow last quarter ($279.4M vs $104.4M). Over the past eight quarters, Avery Dennison's revenue compounded faster (1.4% CAGR vs -4.3%).
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.
Open Text Corporation is a global software company that develops and sells information management software.
AVY vs OTEX — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.3B | $1.3B |
| Net Profit | $168.1M | $168.1M |
| Gross Margin | 28.9% | 74.0% |
| Operating Margin | 10.7% | 22.0% |
| Net Margin | 7.3% | 12.7% |
| Revenue YoY | 7.0% | -0.6% |
| Net Profit YoY | 1.1% | -26.9% |
| EPS (diluted) | — | $0.66 |
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 | $1.3B | ||
| Q3 25 | $2.2B | $1.3B | ||
| Q2 25 | $2.2B | $1.3B | ||
| Q1 25 | $2.1B | $1.3B | ||
| Q4 24 | $2.2B | $1.3B | ||
| Q3 24 | $2.2B | $1.3B | ||
| Q2 24 | $2.2B | $1.4B |
| Q1 26 | $168.1M | — | ||
| Q4 25 | $166.4M | $168.1M | ||
| Q3 25 | $166.3M | $146.6M | ||
| Q2 25 | $189.0M | $28.8M | ||
| Q1 25 | $166.3M | $92.8M | ||
| Q4 24 | $174.0M | $229.9M | ||
| Q3 24 | $181.7M | $84.4M | ||
| Q2 24 | $176.8M | $248.2M |
| Q1 26 | 28.9% | — | ||
| Q4 25 | 28.7% | 74.0% | ||
| Q3 25 | 28.7% | 72.8% | ||
| Q2 25 | 28.8% | 72.3% | ||
| Q1 25 | 28.9% | 71.6% | ||
| Q4 24 | 27.9% | 73.3% | ||
| Q3 24 | 28.7% | 71.7% | ||
| Q2 24 | 29.6% | 72.5% |
| Q1 26 | 10.7% | — | ||
| Q4 25 | 9.1% | 22.0% | ||
| Q3 25 | 10.6% | 21.0% | ||
| Q2 25 | 11.5% | 13.9% | ||
| Q1 25 | 10.6% | 16.7% | ||
| Q4 24 | 11.0% | 22.2% | ||
| Q3 24 | 11.0% | 16.3% | ||
| Q2 24 | 10.7% | 14.2% |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 7.3% | 12.7% | ||
| Q3 25 | 7.5% | 11.4% | ||
| Q2 25 | 8.5% | 2.2% | ||
| Q1 25 | 7.7% | 7.4% | ||
| Q4 24 | 8.0% | 17.2% | ||
| Q3 24 | 8.3% | 6.6% | ||
| Q2 24 | 7.9% | 18.2% |
| Q1 26 | — | — | ||
| Q4 25 | $2.16 | $0.66 | ||
| Q3 25 | $2.13 | $0.58 | ||
| Q2 25 | $2.41 | $0.11 | ||
| Q1 25 | $2.09 | $0.35 | ||
| Q4 24 | $2.17 | $0.87 | ||
| Q3 24 | $2.25 | $0.32 | ||
| Q2 24 | $2.18 | $0.91 |
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 | $1.3B |
| Total DebtLower is stronger | $3.2B | $6.4B |
| Stockholders' EquityBook value | $2.3B | $4.0B |
| Total Assets | $9.0B | $13.6B |
| Debt / EquityLower = less leverage | 1.38× | 1.58× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $255.1M | — | ||
| Q4 25 | $202.8M | $1.3B | ||
| Q3 25 | $536.3M | $1.1B | ||
| Q2 25 | $215.9M | $1.2B | ||
| Q1 25 | $195.9M | $1.3B | ||
| Q4 24 | $329.1M | $1.1B | ||
| Q3 24 | $212.7M | $1.0B | ||
| Q2 24 | $208.8M | $1.3B |
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $6.4B | ||
| Q3 25 | $3.2B | $6.4B | ||
| Q2 25 | $2.6B | $6.4B | ||
| Q1 25 | $2.6B | $6.4B | ||
| Q4 24 | $2.6B | $6.4B | ||
| Q3 24 | $2.0B | $6.4B | ||
| Q2 24 | $2.0B | $6.4B |
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.2B | $4.0B | ||
| Q3 25 | $2.2B | $4.0B | ||
| Q2 25 | $2.2B | $3.9B | ||
| Q1 25 | $2.2B | $4.1B | ||
| Q4 24 | $2.3B | $4.2B | ||
| Q3 24 | $2.4B | $4.1B | ||
| Q2 24 | $2.3B | $4.2B |
| Q1 26 | $9.0B | — | ||
| Q4 25 | $8.8B | $13.6B | ||
| Q3 25 | $8.9B | $13.5B | ||
| Q2 25 | $8.6B | $13.8B | ||
| Q1 25 | $8.4B | $13.8B | ||
| Q4 24 | $8.4B | $13.7B | ||
| Q3 24 | $8.5B | $13.8B | ||
| Q2 24 | $8.3B | $14.2B |
| Q1 26 | 1.38× | — | ||
| Q4 25 | 1.43× | 1.58× | ||
| Q3 25 | 1.45× | 1.61× | ||
| Q2 25 | 1.19× | 1.62× | ||
| Q1 25 | 1.19× | 1.55× | ||
| Q4 24 | 1.11× | 1.51× | ||
| Q3 24 | 0.85× | 1.55× | ||
| Q2 24 | 0.89× | 1.52× |
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 | — | $318.7M |
| Free Cash FlowOCF − Capex | $104.4M | $279.4M |
| FCF MarginFCF / Revenue | 4.5% | 21.1% |
| Capex IntensityCapex / Revenue | — | 3.0% |
| Cash ConversionOCF / Net Profit | — | 1.90× |
| TTM Free Cash FlowTrailing 4 quarters | $869.1M | $878.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $376.8M | $318.7M | ||
| Q3 25 | $312.1M | $147.8M | ||
| Q2 25 | $208.8M | $158.2M | ||
| Q1 25 | $-16.3M | $402.2M | ||
| Q4 24 | $351.2M | $348.0M | ||
| Q3 24 | $270.1M | $-77.8M | ||
| Q2 24 | $197.7M | $185.2M |
| Q1 26 | $104.4M | — | ||
| Q4 25 | $309.7M | $279.4M | ||
| Q3 25 | $276.2M | $101.2M | ||
| Q2 25 | $178.8M | $124.0M | ||
| Q1 25 | $-52.3M | $373.8M | ||
| Q4 24 | $281.7M | $306.7M | ||
| Q3 24 | $227.1M | $-117.1M | ||
| Q2 24 | $150.2M | $145.2M |
| Q1 26 | 4.5% | — | ||
| Q4 25 | 13.6% | 21.1% | ||
| Q3 25 | 12.5% | 7.9% | ||
| Q2 25 | 8.1% | 9.5% | ||
| Q1 25 | -2.4% | 29.8% | ||
| Q4 24 | 12.9% | 23.0% | ||
| Q3 24 | 10.4% | -9.2% | ||
| Q2 24 | 6.7% | 10.7% |
| Q1 26 | — | — | ||
| Q4 25 | 3.0% | 3.0% | ||
| Q3 25 | 1.6% | 3.6% | ||
| Q2 25 | 1.4% | 2.6% | ||
| Q1 25 | 1.7% | 2.3% | ||
| Q4 24 | 3.2% | 3.1% | ||
| Q3 24 | 2.0% | 3.1% | ||
| Q2 24 | 2.1% | 2.9% |
| Q1 26 | — | — | ||
| Q4 25 | 2.26× | 1.90× | ||
| Q3 25 | 1.88× | 1.01× | ||
| Q2 25 | 1.10× | 5.49× | ||
| Q1 25 | -0.10× | 4.33× | ||
| Q4 24 | 2.02× | 1.51× | ||
| Q3 24 | 1.49× | -0.92× | ||
| Q2 24 | 1.12× | 0.75× |
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% |
OTEX
| Transferred At Point In Time | $184.2M | 14% |
| Cybersecurity Enterprise Product | $174.5M | 13% |
| Business Network Product | $159.8M | 12% |
| Business Network Cloud Services And Subscriptions | $151.4M | 11% |
| Content Cloud Services And Subscriptions | $137.9M | 10% |
| Cybersecurity SMB Consumer Product | $127.6M | 10% |
| Application Delivery Management Product | $120.1M | 9% |
| IT Operations Management Product | $113.3M | 9% |
| Professional Service And Other | $82.5M | 6% |
| Analytics Product | $58.1M | 4% |
| IT Operations Management Cloud Services And Subscriptions | $7.8M | 1% |
