Avery Dennison
AVY · Paper & Plastic Packaging Products & Materials
$181.83
1.5%Graphic Packaging
GPK · Paper & Plastic Packaging Products & Materials
$8.77
3.0%The short version
- Avery Dennison is the larger business, with $8.9B of revenue in fiscal 2025 against $8.6B for Graphic Packaging.
- Avery Dennison grew revenue faster (1.1%, against −2.2%).
- Avery Dennison turned more of its sales into free cash flow (8.0% FCF margin, against −0.9% FCF margin).
- Avery Dennison earned a higher return on the capital invested in it (14.6%, against 7.3%).
- Investors pay more for each dollar of Avery Dennison’s earnings: a P/E of 19.9x against 13.3x for Graphic Packaging.
| Latest fiscal year | AVY · FY25 | GPK · FY25 |
|---|---|---|
| Size | ||
| Market cap | $13.9B | $2.6B |
| Revenue | $8.9B | $8.6B |
| Free cash flow | $712M | −$81.0M |
| Net income | $688M | $444M |
| Growth | ||
| Revenue growth | 1.1% | −2.2% |
| 5-year growth | 4.9% | 5.6% |
| Share count change | −3.0% | −1.7% |
| Profitability | ||
| Gross margin | 28.8% | 18.6% |
| Operating margin | — | 9.3% |
| Net margin | 7.8% | 5.2% |
| FCF margin | 8.0% | −0.9% |
| Return on capital | 14.6% | 7.3% |
| Return on equity | 30.2% | 14.0% |
| Balance sheet | ||
| Net debt | $3.5B | $5.3B |
| Net debt / EBITDA | 2.5x | 4.0x |
| Dividends and buybacks | $861M | $278M |
| Valuation & quality | ||
| P/E | 19.9x | 13.3x |
| Piotroski F-score | 5 | 4 |
FY16
AVY $6.1B
GPK $4.3B
FY17
AVY $6.6B
GPK $4.4B
FY18
AVY $7.2B
GPK $6.0B
FY19
AVY $7.1B
GPK $6.2B
FY20
AVY $7.0B
GPK $6.6B
FY21
AVY $8.4B
GPK $7.2B
FY22
AVY $9.0B
GPK $9.4B
FY23
AVY $8.4B
GPK $9.4B
FY24
AVY $8.8B
GPK $8.8B
FY25
AVY $8.9B
GPK $8.6B
AVY
GPK
FY16
AVY —
GPK 9.5%
FY17
AVY —
GPK 7.4%
FY18
AVY —
GPK 7.6%
FY19
AVY —
GPK 8.7%
FY20
AVY —
GPK 8.0%
FY21
AVY —
GPK 5.7%
FY22
AVY —
GPK 9.6%
FY23
AVY —
GPK 12.5%
FY24
AVY —
GPK 12.7%
FY25
AVY —
GPK 9.3%
AVY
GPK
FY16
AVY $405M
GPK −$205M
FY17
AVY $455M
GPK −$433M
FY18
AVY $231M
GPK −$753M
FY19
AVY $527M
GPK $335M
FY20
AVY $550M
GPK $209M
FY21
AVY $792M
GPK −$166M
FY22
AVY $683M
GPK $568M
FY23
AVY $561M
GPK $340M
FY24
AVY $730M
GPK −$363M
FY25
AVY $712M
GPK −$81.0M
AVY
GPK
FY16
AVY 18.6%
GPK 9.5%
FY17
AVY 14.8%
GPK 9.9%
FY18
AVY 20.4%
GPK 9.3%
FY19
AVY 11.7%
GPK 8.8%
FY20
AVY 19.6%
GPK 8.6%
FY21
AVY 19.4%
GPK 4.7%
FY22
AVY 16.7%
GPK 8.9%
FY23
AVY 11.6%
GPK 11.9%
FY24
AVY 15.5%
GPK 10.3%
FY25
AVY 14.6%
GPK 7.3%
AVY
GPK
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.