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 9,248M vs 152,635M combined for tracked competitors (5.7% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+6.5% annualized vs trailing 12 months), vs accelerating (+6.1%) for its tracked peer group.
- Growth: Avery Dennison generated 10.9% revenue growth year over year in Q2 2026, vs -1.6% for its tracked competitors combined.
- Profitability: Its 8.3% net margin compares with 20.3% for the peer group.
- Scale: Avery Dennison ranks #3 of 14 companies by market capitalization in the Paper & Paper Products industry, holding 18.2% of industry market cap.
- Peer revenue share: Avery Dennison accounted for 5.7% of combined revenue among its tracked peer group, up from 5.1% a year earlier.
- Peer differentiation: Revenue per employee of $0.26M compares with $0.48M for the peer group (0.6x).
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, Q2 2026
Avery Dennison reported revenue growth of 10.92 % year on year in Q2 2026, above its competitors' combined revenue change of -1.56 %.
With a net margin of 8.29 %, Avery Dennison reported lower profitability than its competitors (20.30 %).
Avery Dennison generated 5.74 % of the combined sales of its peer group, up from 5.12 % a year earlier.
Avery Dennison vs. its Competitors, Q2 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 an SEC filing; 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 (3) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (7) | $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 4.3% year over year, combined, vs 10.9% for Avery Dennison. Avery Dennison's share of combined industry revenue moved from 6.40% to 6.80%, a gain of 0.40 percentage points.
Avery Dennison's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Avery Dennison Corporation | Yes | Yes | Yes | No |
| Competitors combined (20) | ||||
| High-Confidence Competitors (3) | ||||
| 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 | Dupont De Nemours Inc | 282.9% | Outperformed |
| 2 | Acme United Corp | 282.9% | Outperformed |
| 3 | Stepan Company | 282.9% | Outperformed |
| 4 | Dow Inc | 282.9% | Outperformed |
| 5 | Quaker Chemical Corporation | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Avery Dennison's best-performing tracked 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 | 13,132.40 | 9,248.10 |
| 3m Company | 88,536.35 | 25,180.00 |
| Illinois Tool Works Inc | 78,589.21 | 16,469.00 |
| Honeywell International Inc | 67,390.27 | 36,130.00 |
| Dow Inc | 20,114.27 | 39,331.00 |
| Dupont De Nemours Inc | 17,918.06 | 4,701.00 |
| SUBTOTAL | 342,453.65 | 206,907.56 |
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Sources: Avery Dennison Corporation's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
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 SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Beiersdorf AG | Named by the company | 85% |
| Lintec Corporation | Named by the company | 85% |
| SML Group Limited | Named by the company | 85% |
| UPM Corporation | Named by the company | 85% |
| Amcor Plc | Named by the company | 85% |
| Fedrigoni Self-Adhesives | Named by the company | 85% |
| R-pac International Corporation | Named by the company | 85% |
| Tesa-SE | Named by the company | 85% |
| CCL Industries Inc. | Named by the company | 85% |
| Nitto Denko Corporation | Named by the company | 85% |
| Tageos | Named by the company | 85% |
| UPM Raflatac | Named by the company | 85% |
| Arizon RFID Technology Cayman Co Ltd | Named by the company | 85% |
| Flexcon Corporation, Inc. | Named by the company | 85% |
| Ritrama SpA | Named by the company | 85% |
| UPM Adhesive Materials | Named by the company | 85% |
| Checkpoint Systems, Inc. | Named by the company | 85% |
| Fedrigoni Group | Named by the company | 85% |
| Orafol Group | Named by the company | 85% |
| Tageos SAS | Named by the company | 85% |
| Transact Technologies Inc | Named by the company | 85% |
| Mativ Holdings Inc | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Avery Dennison's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
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 69.81 % |
| 3m Company | Safety and Industrial 47.55 % |
| Illinois Tool Works Inc | Automotive OEM 20.42 % |
| Dupont De Nemours Inc | Diversified Industrials 52.94 % |
| Genuine Parts Co | North America Automotive 38.81 % |
| Rpm International Inc | Consumer Segment 35.10 % |
Source: operating segment revenue as reported in each company's SEC filings (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 | 13,132 | 264,231 | 20,140 |
| 3m Company | 88,536 | 416,198 | 49,785 |
| Illinois Tool Works Inc | 78,589 | 383,000 | 74,279 |
| Honeywell International Inc | 67,390 | 357,723 | 81,356 |
| Dow Inc | 20,114 | 1,136,734 | -75,116 |
| Dupont De Nemours Inc | 17,918 | 313,400 | 5,600 |
| PEERS TOTAL | 329,321 | 478,738 | 31,868 |
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Avery Dennison's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| 3m Company | Americas 54.09 % |
| Dupont De Nemours Inc | United States 44.47 % |
| Genuine Parts Co | United States 64.03 % |
| Rpm International Inc | US 68.55 % |
| Quaker Chemical Corporation | Americas 44.48 % |
Source: revenue geography as reported in each company's SEC filings (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 18.22 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 3,086, indicating a highly concentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Kimberly clark Corporation | 32,523 | 45.51 % |
| 2 | International Paper Company | 18,167 | 25.42 % |
| 3 | Avery Dennison Corporation | 13,024 | 18.22 % |
| 4 | Neptune Insurance Holdings Inc | 3,965 | 5.55 % |
| 5 | Sylvamo Corporation | 1,234 | 5.2% |
| 6 | Mativ Holdings Inc | 1,234 | 5.2% |
| 7 | Rayonier Advanced Materials Inc | 1,234 | 5.2% |
| 8 | Magnera Corporation | 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 2026-09-28.
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 | 32,523 | -19.83 % |
| 2 | International Paper Company | 18,167 | -24.29 % |
| 3 | Avery Dennison Corporation | 13,024 | 7.41 % |
| 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 | Rayonier Advanced Materials Inc | 1,234 | 12.3% |
| 8 | Magnera Corporation | 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 2026-09-28. 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 (22 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 28.98 % | 20.15 % (avg) | +8.8 pp |
| Operating Margin | - | industry median | - |
| EBITDA Margin | 14.87 % | 7.74 % (avg) | +7.1 pp |
| Capital Intensity (Capex / Revenue) | 1.84 % | 4.30 % (avg) | -2.5 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 (22 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.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 17.6x | 11.8x | +5.8x |
| EV / EBITDA | 11.4x | 7.1x | +4.3x |
| P/B | 5.4x | 2.4x | +3.0x |
| Return on Equity | 31.07 % | industry aggregate | 38.79 % |
| Return on Invested Capital | - | 1.45 % (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 SEC filings.| 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 % | 15.40 % | 14.30 % |
| P/E | 17.6x | 36.6x | 23.1x | 24.1x | 20.0x | 31.1x | 22.4x | 20.5x |
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
Relative market share (vs Avery Dennison's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Avery Dennison falls in the Dog quadrant: relative market share of 0.40x vs its largest competitor, in an industry growing revenue -2.1% (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 46% 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 3,086 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 1.84 % vs industry average 4.30 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Avery Dennison's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Avery Dennison's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Avery Dennison's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
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 38.8 points above the industry aggregate.
- Latest-quarter revenue run-rate is accelerating (+6.5% annualized vs trailing 12 months).
Weaknesses
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.40x).
Opportunities
No rule matched.
Threats
- Industry dominated by Kimberly clark Corporation, holding 45.51 % of industry market cap.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
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 | 0.11 | 1.17 | 1.65 |
| 3m Company | - | 1.57 | 3.20 |
| Illinois Tool Works Inc | 0.17 | 1.24 | 2.93 |
| Honeywell International Inc | 0.51 | 1.31 | 2.10 |
| Dow Inc | 0.37 | 1.86 | 0.99 |
| Dupont De Nemours Inc | 0.62 | 2.29 | 0.28 |
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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 | Q2 2026 | +10.9 % | +8.0 % |
| 3m Company | Q2 2026 | +2.5 % | +29.4 % |
| Illinois Tool Works Inc | Q2 2026 | +6.1 % | +7.9 % |
| Honeywell International Inc | Q2 2026 | -6.1 % | +262.4 % |
| Dow Inc | Q1 2026 | -6.1 % | - |
| Dupont De Nemours Inc | Q2 2026 | -44.2 % | +110.0 % |
| PEERS TOTAL | -1.9 % | +136.2 % |
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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 | Q2 2026 | +9.6 % | +30.7 % |
| 3m Company | Q2 2026 | +4.7 % | +7.2 % |
| Illinois Tool Works Inc | Q2 2026 | -10.5 % | -8.9 % |
| Honeywell International Inc | Q2 2026 | +7.2 % | +39.4 % |
| Dow Inc | Q1 2026 | -6.2 % | -26.7 % |
| Dupont De Nemours Inc | Q2 2026 | +3.2 % | +52.0 % |
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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 | 7.86% | 12.50% | 31.07% |
| 3m Company | 8.27% | 11.16% | 76.55% |
| Illinois Tool Works Inc | 19.64% | 26.49% | 101.72% |
| Honeywell International Inc | 10.74% | 17.01% | 49.57% |
| Dow Inc | - | - | - |
| Dupont De Nemours Inc | 0.33% | 0.36% | 0.51% |
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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 | 18.87 | 1.42 |
| 3m Company | 30.10 | 3.52 |
| Illinois Tool Works Inc | 36.46 | 4.77 |
| Honeywell International Inc | 8.31 | 1.87 |
| Dow Inc | - | 0.51 |
| Dupont De Nemours Inc | 291.07 | 3.81 |
| PEERS AVERAGE | 24.70 | 1.66 |
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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.