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Side-by-side financial comparison of Avery Dennison (AVY) and QVC Group, Inc. (QVCGA). Click either name above to swap in a different company.
QVC Group, Inc. is the larger business by last-quarter revenue ($2.7B vs $2.3B, roughly 1.2× Avery Dennison). Avery Dennison runs the higher net margin — 7.3% vs -1.4%, a 8.7% gap on every dollar of revenue. On growth, Avery Dennison posted the faster year-over-year revenue change (7.0% vs -9.1%). QVC Group, Inc. produced more free cash flow last quarter ($191.0M vs $104.4M). Over the past eight quarters, QVC Group, Inc.'s revenue compounded faster (6.9% 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.
QVC Group, is an American media conglomerate controlled by company chairman John C. Malone, who owns a majority of the voting shares.
AVY vs QVCGA — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.3B | $2.7B |
| Net Profit | $168.1M | $-37.0M |
| Gross Margin | 28.9% | 32.9% |
| Operating Margin | 10.7% | 3.7% |
| Net Margin | 7.3% | -1.4% |
| Revenue YoY | 7.0% | -9.1% |
| Net Profit YoY | 1.1% | 97.1% |
| EPS (diluted) | — | $-17.37 |
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 | $2.7B | ||
| Q3 25 | $2.2B | $2.2B | ||
| Q2 25 | $2.2B | $2.2B | ||
| Q1 25 | $2.1B | $2.1B | ||
| Q4 24 | $2.2B | $2.9B | ||
| Q3 24 | $2.2B | $2.3B | ||
| Q2 24 | $2.2B | $2.4B |
| Q1 26 | $168.1M | — | ||
| Q4 25 | $166.4M | $-37.0M | ||
| Q3 25 | $166.3M | $-80.0M | ||
| Q2 25 | $189.0M | $-2.2B | ||
| Q1 25 | $166.3M | $-100.0M | ||
| Q4 24 | $174.0M | $-1.3B | ||
| Q3 24 | $181.7M | $-23.0M | ||
| Q2 24 | $176.8M | $20.0M |
| Q1 26 | 28.9% | — | ||
| Q4 25 | 28.7% | 32.9% | ||
| Q3 25 | 28.7% | 34.0% | ||
| Q2 25 | 28.8% | 36.4% | ||
| Q1 25 | 28.9% | 34.2% | ||
| Q4 24 | 27.9% | 33.3% | ||
| Q3 24 | 28.7% | 35.3% | ||
| Q2 24 | 29.6% | 36.4% |
| Q1 26 | 10.7% | — | ||
| Q4 25 | 9.1% | 3.7% | ||
| Q3 25 | 10.6% | 2.7% | ||
| Q2 25 | 11.5% | -101.6% | ||
| Q1 25 | 10.6% | 0.7% | ||
| Q4 24 | 11.0% | -43.2% | ||
| Q3 24 | 11.0% | 6.5% | ||
| Q2 24 | 10.7% | 6.9% |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 7.3% | -1.4% | ||
| Q3 25 | 7.5% | -3.6% | ||
| Q2 25 | 8.5% | -99.4% | ||
| Q1 25 | 7.7% | -4.8% | ||
| Q4 24 | 8.0% | -43.7% | ||
| Q3 24 | 8.3% | -1.0% | ||
| Q2 24 | 7.9% | 0.8% |
| Q1 26 | — | — | ||
| Q4 25 | $2.16 | $-17.37 | ||
| Q3 25 | $2.13 | $-9.89 | ||
| Q2 25 | $2.41 | $-275.46 | ||
| Q1 25 | $2.09 | $-0.25 | ||
| Q4 24 | $2.17 | — | ||
| Q3 24 | $2.25 | $-0.06 | ||
| Q2 24 | $2.18 | $2.57 |
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 | $2.0B |
| Total DebtLower is stronger | $3.2B | $790.0M |
| Stockholders' EquityBook value | $2.3B | $-3.1B |
| Total Assets | $9.0B | $7.6B |
| Debt / EquityLower = less leverage | 1.38× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $255.1M | — | ||
| Q4 25 | $202.8M | $2.0B | ||
| Q3 25 | $536.3M | $1.8B | ||
| Q2 25 | $215.9M | $897.0M | ||
| Q1 25 | $195.9M | $833.0M | ||
| Q4 24 | $329.1M | $905.0M | ||
| Q3 24 | $212.7M | $873.0M | ||
| Q2 24 | $208.8M | $1.2B |
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $790.0M | ||
| Q3 25 | $3.2B | $5.9B | ||
| Q2 25 | $2.6B | $4.9B | ||
| Q1 25 | $2.6B | $5.0B | ||
| Q4 24 | $2.6B | $4.1B | ||
| Q3 24 | $2.0B | $5.1B | ||
| Q2 24 | $2.0B | $5.3B |
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.2B | $-3.1B | ||
| Q3 25 | $2.2B | $-3.1B | ||
| Q2 25 | $2.2B | $-3.0B | ||
| Q1 25 | $2.2B | $-981.0M | ||
| Q4 24 | $2.3B | $-971.0M | ||
| Q3 24 | $2.4B | $397.0M | ||
| Q2 24 | $2.3B | $328.0M |
| Q1 26 | $9.0B | — | ||
| Q4 25 | $8.8B | $7.6B | ||
| Q3 25 | $8.9B | $7.6B | ||
| Q2 25 | $8.6B | $6.7B | ||
| Q1 25 | $8.4B | $9.0B | ||
| Q4 24 | $8.4B | $9.2B | ||
| Q3 24 | $8.5B | $10.8B | ||
| Q2 24 | $8.3B | $10.9B |
| Q1 26 | 1.38× | — | ||
| Q4 25 | 1.43× | — | ||
| Q3 25 | 1.45× | — | ||
| Q2 25 | 1.19× | — | ||
| Q1 25 | 1.19× | — | ||
| Q4 24 | 1.11× | — | ||
| Q3 24 | 0.85× | 12.74× | ||
| Q2 24 | 0.89× | 16.28× |
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 | — | $244.0M |
| Free Cash FlowOCF − Capex | $104.4M | $191.0M |
| FCF MarginFCF / Revenue | 4.5% | 7.1% |
| Capex IntensityCapex / Revenue | — | 2.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $869.1M | $118.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $376.8M | $244.0M | ||
| Q3 25 | $312.1M | $4.0M | ||
| Q2 25 | $208.8M | $86.0M | ||
| Q1 25 | $-16.3M | $-60.0M | ||
| Q4 24 | $351.2M | $212.0M | ||
| Q3 24 | $270.1M | $20.0M | ||
| Q2 24 | $197.7M | $267.0M |
| Q1 26 | $104.4M | — | ||
| Q4 25 | $309.7M | $191.0M | ||
| Q3 25 | $276.2M | $-27.0M | ||
| Q2 25 | $178.8M | $48.0M | ||
| Q1 25 | $-52.3M | $-94.0M | ||
| Q4 24 | $281.7M | $150.0M | ||
| Q3 24 | $227.1M | $-23.0M | ||
| Q2 24 | $150.2M | $213.0M |
| Q1 26 | 4.5% | — | ||
| Q4 25 | 13.6% | 7.1% | ||
| Q3 25 | 12.5% | -1.2% | ||
| Q2 25 | 8.1% | 2.1% | ||
| Q1 25 | -2.4% | -4.5% | ||
| Q4 24 | 12.9% | 5.1% | ||
| Q3 24 | 10.4% | -1.0% | ||
| Q2 24 | 6.7% | 8.8% |
| Q1 26 | — | — | ||
| Q4 25 | 3.0% | 2.0% | ||
| Q3 25 | 1.6% | 1.4% | ||
| Q2 25 | 1.4% | 1.7% | ||
| Q1 25 | 1.7% | 1.6% | ||
| Q4 24 | 3.2% | 2.1% | ||
| Q3 24 | 2.0% | 1.8% | ||
| Q2 24 | 2.1% | 2.2% |
| Q1 26 | — | — | ||
| 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× | 13.35× |
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% |
QVCGA
| Other | $915.0M | 34% |
| Home | $754.0M | 28% |
| Beauty | $260.0M | 10% |
| Apparel | $254.0M | 9% |
| Electronics | $187.0M | 7% |
| Accessories | $181.0M | 7% |
| Jewelry | $87.0M | 3% |
| Manufactured Product Other | $38.0M | 1% |
