Avery Dennison Corp AVY

Basic materials SIC 2670 - Converted Paper & Paperboard Prods (No Contaners/Boxes) NAICS Manufacturing › Paper Manufacturing › Converted Paper Product Manufacturing derived NYSE

Avery Dennison Corporation ("Avery Dennison" or the "Company" and generally referred to as "we" or "us") was founded in 1935 and incorporated in Delaware in 1977 as Avery International Corporation, the successor corporation to a California corporation of the same name incorporated in 1946. In 1990, we merged one of our subsidiaries into Dennison Manufacturing Company ("Dennison"), as a result of which Dennison became our wholly-owned subsidiary and in connection with which we changed our name to Avery Dennison Corporation. You can learn more about us by visiting our website at www.averydennison.com. Our website is not intended to function as a hyperlink and the information on our website is not, nor should it be considered, part of this report or incorporated by reference into this report.

Last close 181.83 2026-10-23
Market cap $13.78B 2026-06-30 share count
52-week range 152.42 - 199.54

Valuation FY2025 figures against the last close

P/S1.6x
P/E20.7x
P/FCF19.3x
EV/EBITDA—
Dividend yield2.1%
Diluted EPS8.79

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • U.S.
  • Asia
  • Europe, the Middle East and North Africa
  • Latin America
  • Other
Revenue by geography, 5 categories over 3 years. The same figures are in the table below. FY2025 U.S., FY2025: 2.8B (31.1%) 31% U.S. Asia, FY2025: 2.7B (30.8%) 31% Asia Europe, the Middle East and North Africa, FY2025: 2.5B (27.7%) 28% Europe, the Middle East and North Africa Latin America, FY2025: 567.3M (6.4%) 6% Other, FY2025: 353.3M (4.0%) 4% Other FY2024 U.S., FY2024: 2.6B (29.8%) 30% Asia, FY2024: 2.8B (31.6%) 32% Europe, the Middle East and North Africa, FY2024: 2.4B (27.6%) 28% Latin America, FY2024: 599.8M (6.9%) 7% Other, FY2024: 360.8M (4.1%) 4% FY2023 U.S., FY2023: 2.6B (30.8%) 31% Asia, FY2023: 2.5B (30.4%) 30% Europe, the Middle East and North Africa, FY2023: 2.3B (27.6%) 28% Latin America, FY2023: 582.3M (7.0%) 7% Other, FY2023: 351.8M (4.2%) 4%
Region FY2025FY2024FY2023
U.S. $2.75B $2.61B $2.58B
Asia $2.73B $2.76B $2.55B
Europe, the Middle East and North Africa $2.46B $2.42B $2.31B
Latin America $567.3M $599.8M $582.3M
Other $353.3M $360.8M $351.8M

As the company reported it, from the “SEGMENT AND DISAGGREGATED REVENUE INFORMATION - Schedule of Revenue is Attributed to Geographic Areas Based on the Location (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $8.86B$8.76B$8.36B$9.04B$8.41B$6.97B$7.07B$7.16B$6.61B$6.09B
Cost of revenue $6.31B$6.22B$6.09B$6.64B$6.10B$5.05B$5.17B$5.24B$4.80B$4.39B
Gross profit $2.55B$2.53B$2.28B$2.40B$2.31B$1.92B$1.90B$1.92B$1.81B$1.70B
R&D $136.6M$137.8M$135.8M$136.1M$136.6M$112.8M$92.6M$98.2M$93.4M$89.7M
SG&A $1.42B$1.42B$1.31B$1.33B$1.25B$1.06B$1.08B$1.13B$1.11B$1.09B
Interest expense $135.4M$117.0M$119.0M$84.1M$70.2M$70.0M$75.8M$58.5M$63.0M$59.9M
Pre-tax income $925.1M$953.5M$694.7M$999.3M$992.6M$737.3M$249.5M$554.8M$589.5M$477.1M
Income tax $237.1M$248.6M$191.7M$242.2M$248.6M$177.7M$56.7M$85.4M$307.7M$156.4M
Net income $688.0M$704.9M$503.0M$757.1M$740.1M$555.9M$303.6M$467.4M$281.8M$320.7M
EPS, basic 8.818.776.239.288.936.673.615.353.193.60
EPS, diluted 8.798.736.209.218.836.613.575.283.133.54
Shares, diluted (wtd. avg.) 78.3M80.7M81.1M82.2M83.8M84.1M85.0M88.6M90.1M90.7M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $202.8M$329.1M$215.0M$167.2M$162.7M$252.3M$253.7M$232.0M$224.4M$195.1M
Receivables $1.50B$1.47B$1.41B$1.37B$1.42B$1.24B$1.21B$1.19B$1.18B$1.00B
Inventory $975.8M$978.1M$920.7M$1.01B$907.2M$717.2M$663.0M$651.4M$609.6M$519.1M
Total current assets $2.99B$3.08B$2.80B$2.78B$2.73B$2.42B$2.34B$2.30B$2.24B$1.90B
Property, plant and equipment ———$1.54B$1.48B$1.34B$1.21B$1.14B$1.10B$915.2M
Goodwill $2.27B$1.98B$2.01B$1.86B$1.88B$1.14B$930.8M$941.8M$985.1M$793.6M
Other intangibles $827.5M$755.3M$849.1M$840.3M$911.4M$224.9M$126.5M$144.0M$122.9M$66.7M
Total assets $8.80B$8.40B$8.21B$7.95B$7.97B$6.08B$5.49B$5.18B$5.14B$4.40B
Accounts payable $1.26B$1.34B$1.28B$1.34B$1.30B$1.05B$1.07B$1.03B$1.01B$841.9M
Short-term debt $522.9M$592.3M$622.2M$598.6M$318.8M$64.7M$440.2M$194.6M$265.4M$579.1M
Total current liabilities $2.65B$2.86B$2.70B$2.80B$2.55B$1.93B$2.25B$1.99B$1.97B$2.00B
Long-term debt $3.20B$2.55B$2.62B$2.50B$2.77B$2.03B$1.48B$1.75B——
Retained earnings $5.60B$5.15B$4.69B$4.41B$3.88B$3.35B$2.98B$2.86B$2.60B$2.47B
Total equity $2.24B$2.31B$2.13B$2.03B$1.92B$1.48B$1.20B$955.1M$1.03B$925.5M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $881.4M$938.8M$826.0M$961.0M$1.05B$751.3M$746.5M$457.9M$645.7M$582.1M
Depreciation and amortisation $328.2M$312.2M$298.4M$290.7M$244.1M$205.3M$179.0M$181.0M$178.7M$180.1M
Stock-based compensation $27.9M$28.7M$22.3M$47.4M$37.2M$24.0M$34.5M$34.3M$30.2M$27.2M
Capital expenditure $169.0M$208.8M$265.3M$278.1M$255.0M$201.4M$219.4M$226.7M$190.5M$176.9M
Investing cash flow -$596.0M-$243.1M-$459.0M-$332.7M-$1.74B-$554.2M-$251.0M-$232.5M-$543.3M-$432.2M
Financing cash flow -$414.9M-$576.1M-$317.2M-$615.2M$604.3M-$207.7M-$470.3M-$208.1M-$83.9M-$106.2M
Dividends paid $288.4M$277.5M$256.7M$238.9M$220.6M$196.8M$189.7M$175.0M$155.5M$142.5M
Buybacks $572.3M$247.5M$137.5M$379.5M$180.9M$104.3M$237.7M$392.9M$129.7M$262.4M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000008818-26-000015.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 2.5B 5B 7.5B 10B Revenue, FY2016: 6.1B Gross profit, FY2016: 1.7B Net income, FY2016: 320.7M Revenue, FY2017: 6.6B Gross profit, FY2017: 1.8B Net income, FY2017: 281.8M Revenue, FY2018: 7.2B Gross profit, FY2018: 1.9B Net income, FY2018: 467.4M Revenue, FY2019: 7.1B Gross profit, FY2019: 1.9B Net income, FY2019: 303.6M Revenue, FY2020: 7B Gross profit, FY2020: 1.9B Net income, FY2020: 555.9M Revenue, FY2021: 8.4B Gross profit, FY2021: 2.3B Net income, FY2021: 740.1M Revenue, FY2022: 9B Gross profit, FY2022: 2.4B Net income, FY2022: 757.1M Revenue, FY2023: 8.4B Gross profit, FY2023: 2.3B Net income, FY2023: 503M Revenue, FY2024: 8.8B Gross profit, FY2024: 2.5B Net income, FY2024: 704.9M Revenue, FY2025: 8.9B Gross profit, FY2025: 2.5B Net income, FY2025: 688M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $6.09B $6.61B $7.16B $7.07B $6.97B $8.41B $9.04B $8.36B $8.76B $8.86B
Gross profit $1.70B $1.81B $1.92B $1.90B $1.92B $2.31B $2.40B $2.28B $2.53B $2.55B
Net income $320.7M $281.8M $467.4M $303.6M $555.9M $740.1M $757.1M $503.0M $704.9M $688.0M

Recent filings and events

  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Other event Item 8.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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