Avery Dennison Corporation stock research
FY2026 Q1
Avery Dennison (AVY) Gross Margin — Quarter Ended Mar 31, 2026
Revenue was stable sequentially, while gross profit increased, resulting in a slightly improved gross margin. Compared to the same quarter last year, revenue and gross profit were higher, but gross margin remained unchanged.
Gross margin takeaway
Quarter ended Mar 31, 2026 · FY2026 Q1
Revenue was stable sequentially, while gross profit increased, resulting in a slightly improved gross margin. Compared to the same quarter last year, revenue and gross profit were higher, but gross margin remained unchanged.
- The sequential improvement in gross margin was driven by an increase in gross profit relative to stable revenue.
- Sequentially, gross margin improved slightly from the prior quarter. Year-over-year, gross margin was stable.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
28.9%
Gross profit
$664.8M
Revenue
$2.3B
Cost of revenue
$1.6B
Quarter-over-quarter change
+0.3 pts
Year-over-year change
-0.0 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 28, 2025 | $2.2B | $639.1M | $1.6B | 28.8% |
| Sep 27, 2025 | $2.2B | $635.0M | $1.6B | 28.7% |
| Dec 31, 2025 | $2.3B | $650.7M | $1.6B | 28.7% |
| Mar 31, 2026 | $2.3B | $664.8M | $1.6B | 28.9% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2025
+0.3 pts
Year-over-year change
Mar 29, 2025
-0.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The sequential improvement in gross margin was driven by an increase in gross profit relative to stable revenue.
Sequentially, gross margin improved slightly from the prior quarter. Year-over-year, gross margin was stable.
Monitor the trend in cost of revenue relative to revenue to assess whether gross margin can sustain its sequential improvement.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| Avery Dennison Corporation (AVY) | 28.9% |