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Side-by-side financial comparison of Avery Dennison (AVY) and Teradyne (TER). 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 1.8× Teradyne). Teradyne runs the higher net margin — 31.1% vs 7.3%, a 23.8% gap on every dollar of revenue. On growth, Teradyne posted the faster year-over-year revenue change (87.0% vs 7.0%). Over the past eight quarters, Teradyne's revenue compounded faster (32.6% 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.
Teradyne, Inc. is an American automatic test equipment (ATE) designer and manufacturer based in North Reading, Massachusetts. Its high-profile customers include Samsung, Qualcomm, Intel, Analog Devices, Texas Instruments and IBM.
AVY vs TER — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.3B | $1.3B |
| Net Profit | $168.1M | $398.9M |
| Gross Margin | 28.9% | 60.9% |
| Operating Margin | 10.7% | 36.9% |
| Net Margin | 7.3% | 31.1% |
| Revenue YoY | 7.0% | 87.0% |
| Net Profit YoY | 1.1% | — |
| EPS (diluted) | — | $2.53 |
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 | $1.3B | ||
| Q4 25 | $2.3B | $1.1B | ||
| Q3 25 | $2.2B | $769.2M | ||
| Q2 25 | $2.2B | $651.8M | ||
| Q1 25 | $2.1B | $685.7M | ||
| Q4 24 | $2.2B | $752.9M | ||
| Q3 24 | $2.2B | $737.3M | ||
| Q2 24 | $2.2B | $729.9M |
| Q1 26 | $168.1M | $398.9M | ||
| Q4 25 | $166.4M | $257.2M | ||
| Q3 25 | $166.3M | $119.6M | ||
| Q2 25 | $189.0M | $78.4M | ||
| Q1 25 | $166.3M | $98.9M | ||
| Q4 24 | $174.0M | $146.3M | ||
| Q3 24 | $181.7M | $145.6M | ||
| Q2 24 | $176.8M | $186.3M |
| Q1 26 | 28.9% | 60.9% | ||
| Q4 25 | 28.7% | 57.2% | ||
| Q3 25 | 28.7% | 58.4% | ||
| Q2 25 | 28.8% | 57.2% | ||
| Q1 25 | 28.9% | 60.6% | ||
| Q4 24 | 27.9% | 59.4% | ||
| Q3 24 | 28.7% | 59.2% | ||
| Q2 24 | 29.6% | 58.3% |
| Q1 26 | 10.7% | 36.9% | ||
| Q4 25 | 9.1% | 27.1% | ||
| Q3 25 | 10.6% | 18.9% | ||
| Q2 25 | 11.5% | 13.9% | ||
| Q1 25 | 10.6% | 17.6% | ||
| Q4 24 | 11.0% | 20.4% | ||
| Q3 24 | 11.0% | 20.6% | ||
| Q2 24 | 10.7% | 28.8% |
| Q1 26 | 7.3% | 31.1% | ||
| Q4 25 | 7.3% | 23.7% | ||
| Q3 25 | 7.5% | 15.5% | ||
| Q2 25 | 8.5% | 12.0% | ||
| Q1 25 | 7.7% | 14.4% | ||
| Q4 24 | 8.0% | 19.4% | ||
| Q3 24 | 8.3% | 19.8% | ||
| Q2 24 | 7.9% | 25.5% |
| Q1 26 | — | $2.53 | ||
| Q4 25 | $2.16 | $1.62 | ||
| Q3 25 | $2.13 | $0.75 | ||
| Q2 25 | $2.41 | $0.49 | ||
| Q1 25 | $2.09 | $0.61 | ||
| Q4 24 | $2.17 | $0.89 | ||
| Q3 24 | $2.25 | $0.89 | ||
| Q2 24 | $2.18 | $1.14 |
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 | $241.9M |
| Total DebtLower is stronger | $3.2B | $0 |
| Stockholders' EquityBook value | $2.3B | — |
| Total Assets | $9.0B | $4.4B |
| Debt / EquityLower = less leverage | 1.38× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $255.1M | $241.9M | ||
| Q4 25 | $202.8M | $293.8M | ||
| Q3 25 | $536.3M | $272.7M | ||
| Q2 25 | $215.9M | $339.3M | ||
| Q1 25 | $195.9M | $475.6M | ||
| Q4 24 | $329.1M | $553.4M | ||
| Q3 24 | $212.7M | $510.0M | ||
| Q2 24 | $208.8M | $421.9M |
| Q1 26 | $3.2B | $0 | ||
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.2B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.6B | — | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.0B | — | ||
| Q2 24 | $2.0B | — |
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.2B | $2.8B | ||
| Q3 25 | $2.2B | $2.7B | ||
| Q2 25 | $2.2B | $2.8B | ||
| Q1 25 | $2.2B | $2.8B | ||
| Q4 24 | $2.3B | $2.8B | ||
| Q3 24 | $2.4B | $2.9B | ||
| Q2 24 | $2.3B | $2.7B |
| Q1 26 | $9.0B | $4.4B | ||
| Q4 25 | $8.8B | $4.2B | ||
| Q3 25 | $8.9B | $4.0B | ||
| Q2 25 | $8.6B | $3.8B | ||
| Q1 25 | $8.4B | $3.7B | ||
| Q4 24 | $8.4B | $3.7B | ||
| Q3 24 | $8.5B | $3.8B | ||
| Q2 24 | $8.3B | $3.6B |
| 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× | — | ||
| 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 | — | $265.1M |
| Free Cash FlowOCF − Capex | $104.4M | — |
| FCF MarginFCF / Revenue | 4.5% | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 0.66× |
| TTM Free Cash FlowTrailing 4 quarters | $869.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $265.1M | ||
| Q4 25 | $376.8M | $281.6M | ||
| Q3 25 | $312.1M | $49.0M | ||
| Q2 25 | $208.8M | $182.1M | ||
| Q1 25 | $-16.3M | $161.6M | ||
| Q4 24 | $351.2M | $282.6M | ||
| Q3 24 | $270.1M | $166.3M | ||
| Q2 24 | $197.7M | $216.1M |
| Q1 26 | $104.4M | — | ||
| Q4 25 | $309.7M | $218.8M | ||
| Q3 25 | $276.2M | $2.4M | ||
| Q2 25 | $178.8M | $131.7M | ||
| Q1 25 | $-52.3M | $97.6M | ||
| Q4 24 | $281.7M | $225.2M | ||
| Q3 24 | $227.1M | $114.4M | ||
| Q2 24 | $150.2M | $171.2M |
| Q1 26 | 4.5% | — | ||
| Q4 25 | 13.6% | 20.2% | ||
| Q3 25 | 12.5% | 0.3% | ||
| Q2 25 | 8.1% | 20.2% | ||
| Q1 25 | -2.4% | 14.2% | ||
| Q4 24 | 12.9% | 29.9% | ||
| Q3 24 | 10.4% | 15.5% | ||
| Q2 24 | 6.7% | 23.5% |
| Q1 26 | — | — | ||
| Q4 25 | 3.0% | 5.8% | ||
| Q3 25 | 1.6% | 6.1% | ||
| Q2 25 | 1.4% | 7.7% | ||
| Q1 25 | 1.7% | 9.3% | ||
| Q4 24 | 3.2% | 7.6% | ||
| Q3 24 | 2.0% | 7.0% | ||
| Q2 24 | 2.1% | 6.1% |
| Q1 26 | — | 0.66× | ||
| Q4 25 | 2.26× | 1.09× | ||
| Q3 25 | 1.88× | 0.41× | ||
| Q2 25 | 1.10× | 2.32× | ||
| Q1 25 | -0.10× | 1.63× | ||
| Q4 24 | 2.02× | 1.93× | ||
| Q3 24 | 1.49× | 1.14× | ||
| Q2 24 | 1.12× | 1.16× |
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% |
TER
Segment breakdown not available.
