| Stage | AVY | % of rev | MMM | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $2.3B | 100.00% | $6.6B | 100.00% | MMM ×2.82 |
| Gross profit | $655M | 28.08% | $2.8B | 42.27% | MMM +14.2pp |
| Operating income | $282M | 12.10% | $1.6B | 23.66% | MMM +11.6pp |
| Pre-tax income | $241M | 10.35% | $1.7B | 25.36% | MMM +15.0pp |
| Net income | $170M | 7.28% | $1.4B | 21.42% | MMM +14.1pp |
| Stage | AVY | MMM | Gap · A − B |
|---|---|---|---|
| Revenue | $2.3B100.00% | $6.6B100.00% | MMM ×2.82 |
| Gross profit | 28.08%$655M | 42.27%$2.8B | MMM +14.2pp |
| Operating income | 12.10%$282M | 23.66%$1.6B | MMM +11.6pp |
| Pre-tax income | 10.35%$241M | 25.36%$1.7B | MMM +15.0pp |
| Net income |
| 7.28%$170M |
| 21.42%$1.4B |
| MMM +14.1pp |