Avery Dennison's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Avery Dennison (AVY) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Avery Dennison vs Its Competitors
- TTM: Trailing 12-month revenue of 9,364M vs 175,888M combined for its competitors (5.1% combined share).
- Trending: Latest-quarter revenue run-rate is holding steady (-0.4% annualized vs trailing 12 months), vs holding steady (+1.1%) for its tracked peer group.
- Growth: Avery Dennison generated 5.2% revenue growth year over year in Q3 2026, vs -8.9% for its competitors combined.
- Profitability: Its 7.3% net margin compares with 9.6% for the peer group.
- Scale: Avery Dennison ranks #3 of 14 companies by market capitalization in the Paper & Paper Products industry, holding 18.6% of industry market cap.
- Peer revenue share: Avery Dennison accounted for 5.0% of combined revenue among its tracked peer group, up from 4.3% a year earlier.
- Peer differentiation: Revenue per employee of $0.27M compares with $0.47M for the peer group (0.6x).
- Structure: Avery Dennison operates in the following segments: Materials Group, Solutions Group.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
AVY Sales vs. its Competitors, Q3 2026
Avery Dennison reported revenue growth of 5.24 % year on year in Q3 2026, above its competitors' combined revenue change of -8.89 %.
With a net margin of 7.28 %, Avery Dennison reported lower profitability than its competitors (9.62 %).
Avery Dennison generated 4.98 % of the combined sales of its peer group, up from 4.34 % a year earlier.
API endpoints for this dataset
Avery Dennison vs. its Competitors, Q3 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Avery Dennison reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Avery Dennison and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Avery Dennison Corporation | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (2) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (6) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Avery Dennison's competitor groups requires a Commercial License.
For context: the Paper & Paper Products industry grew revenue 4.1% year over year, combined, vs 5.2% for Avery Dennison. Avery Dennison's share of combined industry revenue moved from 6.55% to 6.62%, a gain of 0.07 percentage points.
Avery Dennison's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Avery Dennison Corporation | Yes | Yes | Yes | No |
| Competitors combined (20) | ||||
| High-Confidence Competitors (4) | ||||
| Similar-Size Competitors (7) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
AVY Stock Performance relative to its Competitors
AVY Stock Performance relative to High-Confidence Competitors
AVY Stock Performance relative to Similar-Size Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Acme United Corp | 282.9% | Outperformed |
| 2 | Newell Brands Inc | 282.9% | Outperformed |
| 3 | Stepan Company | 282.9% | Outperformed |
| 4 | Dupont De Nemours Inc | 282.9% | Outperformed |
| 5 | Acco Brands Corporation | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Avery Dennison's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Avery Dennison's Comment on Competition and Industry Peers
Publicly Traded Peers of Avery Dennison Corporation
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Avery Dennison Corporation |
14,348.14 | 9,364.10 |
 3m Company |
98,964.76 | 25,247.00 |
 Illinois Tool Works Inc |
82,180.67 | 16,646.00 |
 Honeywell International Inc |
72,847.82 | 30,716.00 |
 Dow Inc |
22,898.55 | 40,494.00 |
 Dupont De Nemours Inc |
21,194.49 | 3,526.00 |
| SUBTOTAL | 369,855.56 | 202,507.66 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Avery Dennison Corporation versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Avery Dennison's Competitors Named by the Company
Competitive relationships identified from Avery Dennison reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Amcor Plc | Company report | 85% |
| Fedrigoni Group | Company report | 85% |
| Orafol Group | Company report | 85% |
| Tageos SAS | Company report | 85% |
| Transact Technologies Inc | Company report | 85% |
| Beiersdorf AG | Company report | 85% |
| Lintec Corporation | Company report | 85% |
| SML Group Limited | Company report | 85% |
| UPM Corporation | Company report | 85% |
| Fedrigoni Self-Adhesives | Company report | 85% |
| R-pac International Corporation | Company report | 85% |
| Tesa-SE | Company report | 85% |
| CCL Industries Inc. | Company report | 85% |
| Nitto Denko Corporation | Company report | 85% |
| Nitto Denko Corporation | Company report | 85% |
| Arizon RFID Technology Cayman Co Ltd | Company report | 85% |
| Flexcon Corporation, Inc. | Company report | 85% |
| UPM Adhesive Materials | Company report | 85% |
| Checkpoint Systems, Inc. | Company report | 85% |
| Tageos | Company report | 85% |
| UPM Raflatac | Company report | 85% |
| Ritrama SpA | Company report | 85% |
| Mativ Holdings Inc | Company report | 85% |
| Dupont De Nemours Inc | Company report | 85% |
| Acco Brands Corporation | Company report | 85% |
| Newell Brands Inc | Company report | 85% |
| 3m Company | Company report | 85% |
| Rr Donnelley and Sons Co | Company report | 85% |
| Illinois Tool Works Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Avery Dennison's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Avery Dennison's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Avery Dennison Corporation | Materials Group 70.53 % |
| 3m Company | Safety and Industrial 48.33 % |
| Illinois Tool Works Inc | Test and Measurement and Electronics 19.33 % |
| Honeywell International Inc | Building Automation 40.45 % |
| Dow Inc | Operating Segment Total 98.39 % |
| Dupont De Nemours Inc | Diversified Industrials 52.87 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Avery Dennison's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Avery Dennison Corporation | 14,348 | 267,546 | 20,237 |
| 3m Company | 98,965 | 417,306 | 58,579 |
| Illinois Tool Works Inc | 82,181 | 387,116 | 75,070 |
| Honeywell International Inc | 72,848 | 304,119 | 69,525 |
| Dow Inc | 22,899 | 1,170,347 | -38,728 |
| Dupont De Nemours Inc | 21,194 | 235,067 | 20,933 |
| PEERS TOTAL | 355,507 | 467,800 | 33,123 |
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Avery Dennison's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| 3m Company | United States 46.28 % |
| Dow Inc | U.S.& Canada 40.37 % |
| Dupont De Nemours Inc | Asia Pacific 23.77 % |
| Genuine Parts Co | United States 64.75 % |
| Rpm International Inc | US 70.18 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
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Avery Dennison's Position in Industry Market Structure
Market-capitalization share and concentration across all 13 companies in Avery Dennison's industry classification, broader than the peer set above. Market cap in millions of $.Avery Dennison ranks #3 of 13 companies by market capitalization in its industry, holding 18.59 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 3,211, indicating a highly concentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Kimberly clark Corporation | 36,916 | 47.52 % |
| 2 | International Paper Company | 18,601 | 23.95 % |
| 3 | Avery Dennison Corporation | 14,443 | 18.59 % |
| 4 | Neptune Insurance Holdings Inc | 4,126 | 5.31 % |
| 5 | Sylvamo Corporation | 1,234 | 5.2% |
| 6 | Mativ Holdings Inc | 1,234 | 5.2% |
| 7 | Magnera Corporation | 1,234 | 5.2% |
| 8 | Rayonier Advanced Materials Inc | 1,234 | 5.2% |
| 9 | Ranpak Holdings Corp | 1,234 | 5.2% |
| 10 | Clearwater Paper Corporation | 1,234 | 5.2% |
Market cap and industry share for the rest of Avery Dennison's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-10.
Avery Dennison's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Kimberly clark Corporation | 36,916 | 6.83 % |
| 2 | International Paper Company | 18,601 | -8.12 % |
| 3 | Avery Dennison Corporation | 14,443 | 7.56 % |
| 4 | Neptune Insurance Holdings Inc | 1,234 | 12.3% |
| 5 | Sylvamo Corporation | 1,234 | 12.3% |
| 6 | Mativ Holdings Inc | 1,234 | 12.3% |
| 7 | Magnera Corporation | 1,234 | 12.3% |
| 8 | Rayonier Advanced Materials Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Avery Dennison's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-10. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Avery Dennison's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Paper & Paper Products industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (26 companies). See the full Paper & Paper Products industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 28.83 % | 17.56 % (avg) | +11.3 pp |
| Operating Margin | - | industry median | - |
| EBITDA Margin | 15.91 % | 10.68 % (avg) | +5.2 pp |
| Capital Intensity (Capex / Revenue) | 1.95 % | 5.22 % (avg) | -3.3 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Avery Dennison's Valuation vs Competitive Position
Valuation multiples vs the Paper & Paper Products industry average (26 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Paper & Paper Products industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 18.5x | 20.8x | -2.3x |
| EV / EBITDA | 11.0x | 9.6x | +1.4x |
| P/B | 5.6x | 2.3x | +3.3x |
| Return on Equity | 30.62 % | industry aggregate | 31.19 % |
| Return on Invested Capital | - | -0.58 % (avg) | - |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Avery Dennison's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 8.24 % | -1.24 % | -1.39 % | 20.61 % | 7.50 % | -7.48 % | 4.69 % | 1.14 % |
| Operating Margin | 11.01 % | 11.65 % | 11.61 % | 12.59 % | 11.88 % | 9.36 % | 11.92 % | 11.82 % |
| Return on Invested Capital | 19.11 % | 19.33 % | 15.37 % | 16.01 % | 15.67 % | 11.37 % | 15.39 % | 14.30 % |
| P/E | 17.6x | 36.6x | 23.1x | 24.1x | 20.0x | 30.1x | 23.4x | 19.7x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Avery Dennison's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Avery Dennison falls in the Dog quadrant: relative market share of 0.39x vs its largest competitor, in an industry growing revenue -1.3% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution. A caveat worth reading alongside this chart: Kimberly clark Corporation alone holds 48% of this industry's market cap. In an industry this dominated by one leader, the framework will place nearly every OTHER company in "Dog" or "Question Mark" purely because relative share is measured against that leader, regardless of how strong those other companies actually are on their own fundamentals. Check the Profitability, Valuation and Financial Strength sections above before treating this quadrant label as a verdict.
Avery Dennison's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Low | Industry HHI of 3,211 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 1.95 % vs industry average 5.22 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Avery Dennison's dedicated Suppliers and Customers pages, not here.
Avery Dennison's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Avery Dennison falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Avery Dennison's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Return on equity 31.2 points above the industry aggregate.
Weaknesses
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.39x).
Opportunities
No rule matched.
Threats
- Industry dominated by Kimberly clark Corporation, holding 47.52 % of industry market cap.
Methodology: see Methodology: SWOT Analysis.
Avery Dennison's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Avery Dennison Corporation | 0.08 | 1.14 | 1.60 |
| 3m Company | - | 1.47 | 3.62 |
| Illinois Tool Works Inc | 0.15 | 1.20 | 2.98 |
| Honeywell International Inc | 0.47 | 1.24 | 1.69 |
| Dow Inc | 0.40 | 1.87 | 1.01 |
| Dupont De Nemours Inc | 0.59 | 2.47 | 0.23 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Avery Dennison's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Avery Dennison Corporation | Q3 2026 | +5.2 % | +2.0 % |
| 3m Company | Q3 2026 | +1.0 % | +63.3 % |
| Illinois Tool Works Inc | Q3 2026 | +4.4 % | +4.1 % |
| Honeywell International Inc | Q3 2026 | -52.0 % | -64.3 % |
| Dow Inc | Q3 2026 | +11.5 % | - |
| Dupont De Nemours Inc | Q3 2026 | -38.2 % | - |
| PEERS TOTAL | -7.8 % | +16.1 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Avery Dennison's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Avery Dennison Corporation | Q3 2026 | +6.1 % | +32.6 % |
| 3m Company | Q3 2026 | +0.2 % | +17.4 % |
| Illinois Tool Works Inc | Q3 2026 | -12.8 % | -12.8 % |
| Honeywell International Inc | Q3 2026 | -5.7 % | - |
| Dow Inc | Q3 2026 | +3.9 % | +98.0 % |
| Dupont De Nemours Inc | Q3 2026 | +1.9 % | -4.1 % |
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Avery Dennison's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Avery Dennison Corporation | 7.83% | 12.11% | 30.62% |
| 3m Company | 9.60% | 13.24% | 93.07% |
| Illinois Tool Works Inc | 19.74% | 22.80% | 103.35% |
| Honeywell International Inc | 10.10% | 15.11% | 39.45% |
| Dow Inc | - | - | - |
| Dupont De Nemours Inc | 1.48% | 1.58% | 2.25% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Avery Dennison's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Avery Dennison Corporation | 20.50 | 1.53 |
| 3m Company | 28.22 | 3.92 |
| Illinois Tool Works Inc | 37.41 | 4.94 |
| Honeywell International Inc | 10.85 | 2.37 |
| Dow Inc | - | 0.57 |
| Dupont De Nemours Inc | 76.53 | 6.01 |
| PEERS AVERAGE | 25.71 | 1.83 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.