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Side-by-side financial comparison of Avery Dennison (AVY) and SELECT MEDICAL HOLDINGS CORP (SEM). Click either name above to swap in a different company.
Avery Dennison is the larger business by last-quarter revenue ($2.3B vs $1.4B, roughly 1.6× SELECT MEDICAL HOLDINGS CORP). Avery Dennison runs the higher net margin — 7.3% vs 1.4%, a 5.9% gap on every dollar of revenue. On growth, Avery Dennison posted the faster year-over-year revenue change (7.0% vs 6.4%). Avery Dennison produced more free cash flow last quarter ($104.4M vs $5.2M). Over the past eight quarters, SELECT MEDICAL HOLDINGS CORP's revenue compounded faster (2.8% 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.
Select Medical is a healthcare company based in Pennsylvania. It owns long-term acute care and inpatient rehabilitation hospitals, as well as occupational health and physical therapy clinics. Select Medical is a subsidiary of Select Medical Holdings, which is listed on the New York Stock Exchange.
AVY vs SEM — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.3B | $1.4B |
| Net Profit | $168.1M | $20.2M |
| Gross Margin | 28.9% | — |
| Operating Margin | 10.7% | 4.6% |
| Net Margin | 7.3% | 1.4% |
| Revenue YoY | 7.0% | 6.4% |
| Net Profit YoY | 1.1% | 225.7% |
| EPS (diluted) | — | $0.17 |
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 | $1.4B | ||
| Q3 25 | $2.2B | $1.4B | ||
| Q2 25 | $2.2B | $1.3B | ||
| Q1 25 | $2.1B | $1.4B | ||
| Q4 24 | $2.2B | $1.3B | ||
| Q3 24 | $2.2B | $1.3B | ||
| Q2 24 | $2.2B | $1.3B |
| Q1 26 | $168.1M | — | ||
| Q4 25 | $166.4M | $20.2M | ||
| Q3 25 | $166.3M | $28.8M | ||
| Q2 25 | $189.0M | $40.6M | ||
| Q1 25 | $166.3M | $56.7M | ||
| Q4 24 | $174.0M | $-16.1M | ||
| Q3 24 | $181.7M | $55.6M | ||
| Q2 24 | $176.8M | $77.6M |
| 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% | 4.6% | ||
| Q3 25 | 10.6% | 5.4% | ||
| Q2 25 | 11.5% | 6.5% | ||
| Q1 25 | 10.6% | 8.3% | ||
| Q4 24 | 11.0% | 1.6% | ||
| Q3 24 | 11.0% | 4.3% | ||
| Q2 24 | 10.7% | 5.8% |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 7.3% | 1.4% | ||
| Q3 25 | 7.5% | 2.1% | ||
| Q2 25 | 8.5% | 3.0% | ||
| Q1 25 | 7.7% | 4.2% | ||
| Q4 24 | 8.0% | -1.2% | ||
| Q3 24 | 8.3% | 4.4% | ||
| Q2 24 | 7.9% | 6.1% |
| Q1 26 | — | — | ||
| Q4 25 | $2.16 | $0.17 | ||
| Q3 25 | $2.13 | $0.23 | ||
| Q2 25 | $2.41 | $0.32 | ||
| Q1 25 | $2.09 | $0.44 | ||
| Q4 24 | $2.17 | $-0.12 | ||
| Q3 24 | $2.25 | $0.43 | ||
| Q2 24 | $2.18 | $0.60 |
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 | $26.5M |
| Total DebtLower is stronger | $3.2B | $1.8B |
| Stockholders' EquityBook value | $2.3B | $1.7B |
| Total Assets | $9.0B | $5.9B |
| Debt / EquityLower = less leverage | 1.38× | 1.06× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $255.1M | — | ||
| Q4 25 | $202.8M | $26.5M | ||
| Q3 25 | $536.3M | $60.1M | ||
| Q2 25 | $215.9M | $52.3M | ||
| Q1 25 | $195.9M | $53.2M | ||
| Q4 24 | $329.1M | $59.7M | ||
| Q3 24 | $212.7M | $191.5M | ||
| Q2 24 | $208.8M | $111.2M |
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $1.8B | ||
| Q3 25 | $3.2B | $1.7B | ||
| Q2 25 | $2.6B | $1.8B | ||
| Q1 25 | $2.6B | $1.8B | ||
| Q4 24 | $2.6B | $1.7B | ||
| Q3 24 | $2.0B | $3.1B | ||
| Q2 24 | $2.0B | $3.6B |
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.2B | $1.7B | ||
| Q3 25 | $2.2B | $1.7B | ||
| Q2 25 | $2.2B | $1.7B | ||
| Q1 25 | $2.2B | $1.7B | ||
| Q4 24 | $2.3B | $1.7B | ||
| Q3 24 | $2.4B | $1.9B | ||
| Q2 24 | $2.3B | $1.4B |
| Q1 26 | $9.0B | — | ||
| Q4 25 | $8.8B | $5.9B | ||
| Q3 25 | $8.9B | $5.7B | ||
| Q2 25 | $8.6B | $5.7B | ||
| Q1 25 | $8.4B | $5.7B | ||
| Q4 24 | $8.4B | $5.6B | ||
| Q3 24 | $8.5B | $8.0B | ||
| Q2 24 | $8.3B | $7.9B |
| Q1 26 | 1.38× | — | ||
| Q4 25 | 1.43× | 1.06× | ||
| Q3 25 | 1.45× | 1.03× | ||
| Q2 25 | 1.19× | 1.10× | ||
| Q1 25 | 1.19× | 1.03× | ||
| Q4 24 | 1.11× | 1.01× | ||
| Q3 24 | 0.85× | 1.62× | ||
| Q2 24 | 0.89× | 2.54× |
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 | — | $64.3M |
| Free Cash FlowOCF − Capex | $104.4M | $5.2M |
| FCF MarginFCF / Revenue | 4.5% | 0.4% |
| Capex IntensityCapex / Revenue | — | 4.2% |
| Cash ConversionOCF / Net Profit | — | 3.19× |
| TTM Free Cash FlowTrailing 4 quarters | $869.1M | $117.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $376.8M | $64.3M | ||
| Q3 25 | $312.1M | $175.3M | ||
| Q2 25 | $208.8M | $110.3M | ||
| Q1 25 | $-16.3M | $-3.5M | ||
| Q4 24 | $351.2M | $125.4M | ||
| Q3 24 | $270.1M | $181.0M | ||
| Q2 24 | $197.7M | $278.2M |
| Q1 26 | $104.4M | — | ||
| Q4 25 | $309.7M | $5.2M | ||
| Q3 25 | $276.2M | $122.2M | ||
| Q2 25 | $178.8M | $45.6M | ||
| Q1 25 | $-52.3M | $-55.8M | ||
| Q4 24 | $281.7M | $62.0M | ||
| Q3 24 | $227.1M | $130.3M | ||
| Q2 24 | $150.2M | $222.6M |
| Q1 26 | 4.5% | — | ||
| Q4 25 | 13.6% | 0.4% | ||
| Q3 25 | 12.5% | 9.0% | ||
| Q2 25 | 8.1% | 3.4% | ||
| Q1 25 | -2.4% | -4.1% | ||
| Q4 24 | 12.9% | 4.7% | ||
| Q3 24 | 10.4% | 10.2% | ||
| Q2 24 | 6.7% | 17.4% |
| Q1 26 | — | — | ||
| Q4 25 | 3.0% | 4.2% | ||
| Q3 25 | 1.6% | 3.9% | ||
| Q2 25 | 1.4% | 4.8% | ||
| Q1 25 | 1.7% | 3.9% | ||
| Q4 24 | 3.2% | 4.8% | ||
| Q3 24 | 2.0% | 4.0% | ||
| Q2 24 | 2.1% | 4.3% |
| Q1 26 | — | — | ||
| Q4 25 | 2.26× | 3.19× | ||
| Q3 25 | 1.88× | 6.09× | ||
| Q2 25 | 1.10× | 2.72× | ||
| Q1 25 | -0.10× | -0.06× | ||
| Q4 24 | 2.02× | — | ||
| Q3 24 | 1.49× | 3.25× | ||
| Q2 24 | 1.12× | 3.59× |
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% |
SEM
| Critical Illness Recovery Hospitals | $629.7M | 45% |
| Health Care Patient Service Non Medicare | $428.6M | 31% |
| Rehabilitation Hospitals | $339.2M | 24% |
