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Side-by-side financial comparison of Avery Dennison (AVY) and XPO, Inc. (XPO). Click either name above to swap in a different company.
Avery Dennison is the larger business by last-quarter revenue ($2.3B vs $2.0B, roughly 1.1× XPO, Inc.). Avery Dennison runs the higher net margin — 7.3% vs 2.9%, a 4.4% gap on every dollar of revenue. On growth, Avery Dennison posted the faster year-over-year revenue change (7.0% vs 4.7%). Over the past eight quarters, Avery Dennison's revenue compounded faster (1.4% CAGR vs -0.1%).
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.
XPO, Inc., formerly XPO Logistics, is an American transportation company that conducts less-than-truckload shipping in North America. The company has headquarters in Greenwich, Connecticut, and has 592 locations globally. XPO is the second largest provider of less-than-truckload (LTL) services in North America, operating in 99 percent of all U.S. postal codes.
AVY vs XPO — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.3B | $2.0B |
| Net Profit | $168.1M | $59.0M |
| Gross Margin | 28.9% | — |
| Operating Margin | 10.7% | 7.1% |
| Net Margin | 7.3% | 2.9% |
| Revenue YoY | 7.0% | 4.7% |
| Net Profit YoY | 1.1% | -21.3% |
| EPS (diluted) | — | $0.49 |
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 | $2.0B | ||
| Q3 25 | $2.2B | $2.1B | ||
| Q2 25 | $2.2B | $2.1B | ||
| Q1 25 | $2.1B | $2.0B | ||
| Q4 24 | $2.2B | $1.9B | ||
| Q3 24 | $2.2B | $2.1B | ||
| Q2 24 | $2.2B | $2.1B |
| Q1 26 | $168.1M | — | ||
| Q4 25 | $166.4M | $59.0M | ||
| Q3 25 | $166.3M | $82.0M | ||
| Q2 25 | $189.0M | $106.0M | ||
| Q1 25 | $166.3M | $69.0M | ||
| Q4 24 | $174.0M | $75.0M | ||
| Q3 24 | $181.7M | $95.0M | ||
| Q2 24 | $176.8M | $150.0M |
| 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% | 7.1% | ||
| Q3 25 | 10.6% | 7.8% | ||
| Q2 25 | 11.5% | 9.5% | ||
| Q1 25 | 10.6% | 7.7% | ||
| Q4 24 | 11.0% | 7.8% | ||
| Q3 24 | 11.0% | 8.6% | ||
| Q2 24 | 10.7% | 9.5% |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 7.3% | 2.9% | ||
| Q3 25 | 7.5% | 3.9% | ||
| Q2 25 | 8.5% | 5.1% | ||
| Q1 25 | 7.7% | 3.5% | ||
| Q4 24 | 8.0% | 3.9% | ||
| Q3 24 | 8.3% | 4.6% | ||
| Q2 24 | 7.9% | 7.2% |
| Q1 26 | — | — | ||
| Q4 25 | $2.16 | $0.49 | ||
| Q3 25 | $2.13 | $0.68 | ||
| Q2 25 | $2.41 | $0.89 | ||
| Q1 25 | $2.09 | $0.58 | ||
| Q4 24 | $2.17 | $0.63 | ||
| Q3 24 | $2.25 | $0.79 | ||
| Q2 24 | $2.18 | $1.25 |
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 | $310.0M |
| Total DebtLower is stronger | $3.2B | — |
| Stockholders' EquityBook value | $2.3B | $1.9B |
| Total Assets | $9.0B | $8.2B |
| Debt / EquityLower = less leverage | 1.38× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $255.1M | — | ||
| Q4 25 | $202.8M | $310.0M | ||
| Q3 25 | $536.3M | $335.0M | ||
| Q2 25 | $215.9M | $225.0M | ||
| Q1 25 | $195.9M | $212.0M | ||
| Q4 24 | $329.1M | $246.0M | ||
| Q3 24 | $212.7M | $378.0M | ||
| Q2 24 | $208.8M | $250.0M |
| Q1 26 | $3.2B | — | ||
| 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 | $1.9B | ||
| Q3 25 | $2.2B | $1.8B | ||
| Q2 25 | $2.2B | $1.8B | ||
| Q1 25 | $2.2B | $1.6B | ||
| Q4 24 | $2.3B | $1.6B | ||
| Q3 24 | $2.4B | $1.6B | ||
| Q2 24 | $2.3B | $1.5B |
| Q1 26 | $9.0B | — | ||
| Q4 25 | $8.8B | $8.2B | ||
| Q3 25 | $8.9B | $8.2B | ||
| Q2 25 | $8.6B | $8.1B | ||
| Q1 25 | $8.4B | $7.9B | ||
| Q4 24 | $8.4B | $7.7B | ||
| Q3 24 | $8.5B | $7.9B | ||
| Q2 24 | $8.3B | $7.7B |
| 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 | — | — |
| Free Cash FlowOCF − Capex | $104.4M | — |
| FCF MarginFCF / Revenue | 4.5% | — |
| Capex IntensityCapex / Revenue | — | 5.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $869.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $376.8M | — | ||
| Q3 25 | $312.1M | $371.0M | ||
| Q2 25 | $208.8M | $247.0M | ||
| Q1 25 | $-16.3M | $142.0M | ||
| Q4 24 | $351.2M | $189.0M | ||
| Q3 24 | $270.1M | $264.0M | ||
| Q2 24 | $197.7M | $210.0M |
| Q1 26 | $104.4M | — | ||
| Q4 25 | $309.7M | — | ||
| Q3 25 | $276.2M | $215.0M | ||
| Q2 25 | $178.8M | $51.0M | ||
| Q1 25 | $-52.3M | $-57.0M | ||
| Q4 24 | $281.7M | $23.0M | ||
| Q3 24 | $227.1M | $137.0M | ||
| Q2 24 | $150.2M | $20.0M |
| Q1 26 | 4.5% | — | ||
| Q4 25 | 13.6% | — | ||
| Q3 25 | 12.5% | 10.2% | ||
| Q2 25 | 8.1% | 2.5% | ||
| Q1 25 | -2.4% | -2.9% | ||
| Q4 24 | 12.9% | 1.2% | ||
| Q3 24 | 10.4% | 6.7% | ||
| Q2 24 | 6.7% | 1.0% |
| Q1 26 | — | — | ||
| Q4 25 | 3.0% | 5.3% | ||
| Q3 25 | 1.6% | 7.4% | ||
| Q2 25 | 1.4% | 9.4% | ||
| Q1 25 | 1.7% | 10.2% | ||
| Q4 24 | 3.2% | 8.6% | ||
| Q3 24 | 2.0% | 6.2% | ||
| Q2 24 | 2.1% | 9.1% |
| Q1 26 | — | — | ||
| Q4 25 | 2.26× | — | ||
| Q3 25 | 1.88× | 4.52× | ||
| Q2 25 | 1.10× | 2.33× | ||
| Q1 25 | -0.10× | 2.06× | ||
| Q4 24 | 2.02× | 2.52× | ||
| Q3 24 | 1.49× | 2.78× | ||
| Q2 24 | 1.12× | 1.40× |
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% |
XPO
| North American LTL | $1.2B | 58% |
| European Transportation | $844.0M | 42% |
