| Stage | AVY | % of rev | KMB | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $2.3B | 100.00% | $4.2B | 100.00% | KMB ×1.80 |
| Gross profit | $655M | 28.08% | $1.6B | 38.27% | KMB +10.2pp |
| Operating income | $282M | 12.10% | $633M | 15.11% | KMB +3.0pp |
| Pre-tax income | $241M | 10.35% | $572M | 13.65% | KMB +3.3pp |
| Net income | $170M | 7.28% | $350M | 8.36% | KMB +1.1pp |
| Stage | AVY | KMB | Gap · A − B |
|---|---|---|---|
| Revenue | $2.3B100.00% | $4.2B100.00% | KMB ×1.80 |
| Gross profit | 28.08%$655M | 38.27%$1.6B | KMB +10.2pp |
| Operating income | 12.10%$282M | 15.11%$633M | KMB +3.0pp |
| Pre-tax income | 10.35%$241M | 13.65%$572M | KMB +3.3pp |
| Net income |
| 7.28%$170M |
| 8.36%$350M |
| KMB +1.1pp |