In the vibrant world of fresh produce, two names have carved distinct identities — Mission Produce, Inc. (AVO Quick QuoteAVO - Free Report) and Dole plc (DOLE Quick QuoteDOLE - Free Report) . While AVO dominates the avocado frontier with its vertically integrated, innovation-led model, DOLE commands a far broader territory as one of the world’s largest fruit and vegetable companies.

Both players thrive in a dynamic global food ecosystem where supply chains, sustainability and shifting consumer tastes are reshaping market positions. As AVO sharpens its niche focus and DOLE leverages its diversified portfolio, the race for market share in the fresh produce aisle is heating up, raising a crucial question: which model offers ripest growth ahead?

The Case for AVO

Mission Produce continues to reinforce its dominance in the global avocado market, delivering a 10% year-over-year revenue jump to $357.7 million in third-quarter fiscal 2025, a record quarterly performance. As one of the world’s largest suppliers of fresh Hass avocados, AVO commands a meaningful share of the $15-billion global avocado industry through its integrated network spanning more than 25 countries. The company’s avocado volumes rose 10%, supported by favorable Peruvian and Mexican harvests, while adjusted EBITDA rose to $32.6 million. This consistent performance underscores Mission’s strong foothold in the fresh produce landscape, powered by scale, efficiency and resilient demand trends.

AVO’s vertically integrated business model is its core differentiator. By managing every link of the value chain, from farming and sourcing to marketing and distribution, the company ensures year-round supply reliability and pricing agility. Its International Farming segment delivered a standout 79% year-over-year revenue surge, driven by record yields, while the Marketing & Distribution arm continued to expand its global reach. Mission Produce’s expanding blueberry and mango portfolio further diversifies its earnings base, positioning it as a premium, innovation-led produce supplier to retail, wholesale and foodservice channels worldwide.

Financially robust and operationally agile, AVO reported net income of $14.7 million (21 cents per share) and strong cash generation of $34 million from operations in the fiscal third quarter. With ongoing investments in digital traceability, advanced ripening technology and market expansion in Europe and Asia, Mission Produce is cultivating long-term shareholder value, solidifying its leadership as the go-to brand for fresh, high-quality avocados globally.

The Case for DOLE

Dole continues to assert its dominance as a global fresh produce powerhouse, commanding one of the largest shares of the more than $200-billion international fruit and vegetable market. In second-quarter 2025, the company delivered a robust 14.3% year-over-year revenue increase to $2.4 billion and a 9.3% rise in adjusted EBITDA to $137 million, underscoring its operational resilience and scale advantage.

With leading positions in bananas, pineapples and a broad array of diversified produce, Dole’s reach across North America, Europe and Latin America anchors its market leadership. Its extensive sourcing network and vertically integrated logistics enable unmatched consistency, a critical differentiator in a volatile global supply environment.

Dole’s divestiture of its Fresh Vegetables division marks a pivotal step in sharpening focus on its high-performing core segments, Fresh Fruit, Diversified EMEA and Diversified Americas. Dole’s premium portfolio of tropical and temperate fruits, supported by its strong distribution partnerships and regional brand equity, positions it to serve both retail and foodservice markets effectively. With expanding demand for health-focused produce, Dole’s diversified model provides both stability and growth optionality.

Dole’s consistent cash generation and strategic debt reduction signal prudent capital discipline. Backed by digital innovation in logistics, supply-chain traceability and consumer engagement, the company is fortifying its global brand relevance. With a refreshed strategic focus, steady dividend payouts and a raised EBITDA guidance of $380-$390 million for 2025, Dole stands out as a compelling investment case in the global fresh produce sector, blending scale, diversification and dependable long-term growth.

How Do Estimates Compare for AVO & DOLE?

The Zacks Consensus Estimate for Mission Produce’s fiscal 2025 sales implies year-over-year growth of 12.1%, while that for EPS indicates a decline of 9.5%. EPS estimates have been unchanged in the past 30 days. Mission Produce’s annual sales and earnings are slated to decline 9.7% and 28.4% year over year, respectively, in fiscal 2026.

AVO’s Estimate Revision Trend

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Dole’s 2025 sales suggests year-over-year growth of 7%, while that for EPS indicates a decline of 18.9%. EPS estimates have been unchanged in the past 30 days. Dole’s annual sales and earnings are slated to increase 3.1% and 43.3% year over year, respectively, in fiscal 2026.

DOLE’s Estimate Revision Trend

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Price Performance & Valuation of AVO & DOLE

In the past year, the Mission Produce stock had the edge in terms of performance. Despite recording a decline of 11.5%, the AVO stock has fared better than DOLE’s fall of 21.8%. However, both stocks have underperformed the benchmark S&P 500’s return of 15.7% in the past year.

AVO vs. DOLE: YTD Price Performance

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From a valuation perspective, Mission Produce trades at a forward price-to-earnings (P/E) multiple of 20.57X, which is below its 5-year median of 20.77X. Moreover, the AVO stock trades above Dole’s forward 12-month P/E multiple of 9.26X, with a 5-year median of 9.92X.

Image Source: Zacks Investment Research

At current levels, AVO is trading at a noticeable premium compared with Dole, suggesting that investors view Mission Produce as a higher-growth, more specialized business. AVO’s valuation is a sign that the market is rewarding its focused strategy in the avocado category, vertically integrated operations and global expansion efforts. In contrast, DOLE’s valuation reflects a more value-oriented, diversified produce business.

DOLE’s lower multiple may appear more attractive to value-focused investors, especially considering its broader revenue base, strong cash flow generation and global brand presence across multiple produce categories. However, its diversified nature can mean slower growth and greater exposure to commodity pressures.

In short, AVO is for investors seeking premium growth in a niche space, while DOLE appeals to those looking for stability, income and a relative bargain.

Verdict

Both Mission Produce and Dole demonstrate formidable strengths — Dole with its unparalleled scale and diversification across the global produce landscape, and Mission Produce with its razor-sharp focus and innovation in the high-growth avocado market. However, when it comes to momentum, investor confidence and growth potential, AVO steals the spotlight. 

Mission Produce’s strong stock resilience, record operational execution and expanding global footprint signal a company on the cusp of scaling its niche dominance into broader market leadership. While DOLE’s vast portfolio ensures stability and reliable income, AVO’s vertically integrated, technology-enabled model offers a fresher and faster growth trajectory.

In this battle for the top spot, Mission Produce emerges as the clear winner, cultivating both profitability and promise in the fertile field of global fresh produce. AVO currently has a Zacks Rank #2 (Buy) and Dole carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.