AVY · Avery Dennison Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.30B | - | $2.22B | $2.22B | $2.15B | - | $2.18B | $2.24B | $2.15B | - |
| Cost of Revenue | $1.63B | - | $1.58B | $1.58B | $1.53B | - | $1.56B | $1.57B | $1.52B | - |
| Gross Profit | $664.80M | - | $635.00M | $639.10M | $621.50M | - | $626.60M | $662.70M | $632.20M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $375.10M | - | $353.90M | $352.40M | $347.00M | - | $346.90M | $373.90M | $365.20M | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $86.80M | - | $84.00M | $80.80M | $77.30M | - | - | - | $49.00M | - |
| Operating Income | $240.40M | - | $234.80M | $255.50M | $227.00M | - | $239.30M | $238.40M | $234.40M | - |
| Interest Expense | $35.60M | - | $33.30M | $34.00M | $28.60M | - | $30.00M | $31.90M | $28.60M | - |
| Income Tax | $72.30M | - | $68.50M | $66.50M | $60.70M | - | $57.60M | $61.60M | $62.00M | - |
| Net Income | $168.10M | - | $166.30M | $189.00M | $166.30M | - | $181.70M | $176.80M | $172.40M | - |
| EPS - Basic | $2.19 | - | $2.13 | $2.42 | $2.10 | - | $2.26 | $2.19 | $2.14 | - |
| EPS - Diluted | $2.18 | - | $2.13 | $2.41 | $2.09 | - | $2.25 | $2.18 | $2.13 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $255.10M | $202.80M | $536.30M | $215.90M | $195.90M | $329.10M | $212.70M | $208.80M | $185.70M | $215.00M |
| Accounts Receivable | $1.65B | $1.50B | $1.63B | $1.63B | $1.52B | $1.47B | $1.57B | $1.53B | $1.48B | $1.41B |
| Inventory | $989.40M | $975.80M | $1.04B | $1.03B | $1.02B | $978.10M | $1.01B | $979.90M | $972.50M | $920.70M |
| Accounts Payable | $1.33B | $1.26B | $1.30B | $1.31B | $1.27B | $1.34B | $1.34B | $1.31B | $1.30B | $1.28B |
| Current Assets | $3.22B | $2.99B | $3.52B | $3.18B | $3.03B | $3.08B | $3.08B | $2.97B | $2.89B | $2.80B |
| Total Assets | $8.98B | $8.80B | $8.87B | $8.57B | $8.35B | $8.40B | $8.45B | $8.30B | $8.26B | $8.21B |
| Current Liabilities | $2.80B | $2.65B | $2.79B | $3.06B | $2.95B | $2.86B | $3.35B | $3.30B | $3.31B | $2.70B |
| Long-term Debt | - | $3.20B | - | - | - | $2.55B | - | - | - | $2.62B |
| Total Liabilities | - | - | - | - | - | - | - | - | - | - |
| Stockholders' Equity | $2.30B | $2.24B | $2.21B | $2.20B | $2.17B | $2.31B | $2.39B | $2.29B | $2.20B | $2.13B |
| Retained Earnings | $5.71B | $5.60B | $5.50B | $5.40B | $5.28B | $5.15B | $5.04B | $4.92B | $4.81B | $4.69B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $136.50M | - | - | - | ($16.30M) | - | - | - | $119.80M | - |
| Investing Cash Flow | ($32.60M) | - | - | - | ($33.20M) | - | - | - | ($62.00M) | - |
| Financing Cash Flow | ($50.60M) | - | - | - | ($84.90M) | - | - | - | ($85.00M) | - |
| CapEx | $28.30M | - | - | - | $36.00M | - | - | - | $48.80M | - |
| Free Cash Flow | $108.20M | - | - | - | ($52.30M) | - | - | - | $71.00M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 28.9% | - | 28.7% | 28.8% | 28.9% | - | 28.7% | 29.6% | 29.4% | - |
| Operating margin | 10.5% | - | 10.6% | 11.5% | 10.6% | - | 11.0% | 10.7% | 10.9% | - |
| EBITDA margin | 14.2% | - | 14.4% | 15.1% | 14.2% | - | - | - | 13.2% | - |
| Net margin | 7.3% | - | 7.5% | 8.5% | 7.7% | - | 8.3% | 7.9% | 8.0% | - |
| Free cash flow margin | 4.7% | - | - | - | -2.4% | - | - | - | 3.3% | - |
| FCF / Net income | 0.64 | - | - | - | -0.31 | - | - | - | 0.41 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 16.3% | - | 16.0% | 15.9% | 16.2% | - | 15.9% | 16.7% | 17.0% | - |
| Effective tax rate | 30.1% | - | 29.2% | 26.0% | 26.7% | - | 24.1% | 25.8% | 26.5% | - |
| Return on assets | 1.9% | - | 1.9% | 2.2% | 2.0% | - | 2.1% | 2.1% | 2.1% | - |
| Return on equity | 7.3% | - | 7.5% | 8.6% | 7.7% | - | 7.6% | 7.7% | 7.8% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 1.15 | 1.13 | 1.26 | 1.04 | 1.03 | 1.08 | 0.92 | 0.90 | 0.87 | 1.04 |
| Quick ratio | 0.80 | 0.76 | 0.89 | 0.70 | 0.68 | 0.73 | 0.62 | 0.60 | 0.58 | 0.69 |
| Cash ratio | 0.09 | 0.08 | 0.19 | 0.07 | 0.07 | 0.11 | 0.06 | 0.06 | 0.06 | 0.08 |
| Leverage | ||||||||||
| Debt / Equity | - | 1.43 | - | - | - | 1.10 | - | - | - | 1.23 |
| Debt / Assets | - | 0.36 | - | - | - | 0.30 | - | - | - | 0.32 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | 6.8x | - | 7.1x | 7.5x | 7.9x | - | 8.0x | 7.5x | 8.2x | - |
| Equity multiplier | 3.90 | 3.93 | 4.01 | 3.89 | 3.85 | 3.63 | 3.53 | 3.63 | 3.75 | 3.86 |
| Liabilities / Assets | - | - | - | - | - | - | - | - | - | - |
| Efficiency | ||||||||||
| Asset turnover | 0.26 | - | 0.25 | 0.26 | 0.26 | - | 0.26 | 0.27 | 0.26 | - |
| Inventory turnover | 1.65 | - | 1.52 | 1.54 | 1.50 | - | 1.54 | 1.60 | 1.56 | - |
| Days sales outstanding | 262d | - | 268d | 267d | 258d | - | 263d | 250d | 251d | - |
| Days inventory outstanding | 221d | - | 240d | 237d | 243d | - | 238d | 227d | 234d | - |
| Days payable outstanding | 297d | - | 301d | 302d | 304d | - | 315d | 305d | 313d | - |
| Cash conversion cycle | 186d | - | 207d | 203d | 197d | - | 186d | 172d | 172d | - |
| Valuation | ||||||||||
| P / E | 79.2x | - | 75.5x | 72.9x | 84.1x | - | 98.8x | 100.3x | 104.8x | - |
| P / B | 5.8x | - | 5.7x | 6.2x | 6.4x | - | 7.5x | 7.7x | 8.2x | - |
| P / S | 5.8x | - | 5.7x | 6.2x | 6.5x | - | 8.2x | 7.9x | 8.4x | - |
| EV / EBITDA | 39.9x | - | 37.6x | 40.2x | 45.2x | - | - | - | 63.2x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 7.0% | - | 1.5% | -0.7% | -0.1% | - | 4.1% | 6.9% | 4.2% | - |
| Revenue CAGR (3y) | 3.6% | - | -1.5% | -1.8% | -2.9% | - | 1.8% | 2.1% | 1.6% | - |
| Revenue CAGR (5y) | 2.3% | - | 5.1% | 7.8% | 4.5% | - | 4.4% | 4.5% | 4.3% | - |
| Gross profit growth (YoY) | 7.0% | - | 1.3% | -3.6% | -1.7% | - | 7.0% | 19.8% | 16.6% | - |
| Operating income growth (YoY) | 5.9% | - | -1.9% | 7.2% | -3.2% | - | 29.6% | 70.0% | 39.3% | - |
| Net income growth (YoY) | 1.1% | - | -8.5% | 6.9% | -3.5% | - | 31.4% | 76.1% | 42.2% | - |
| EPS growth (YoY) | 4.3% | - | -5.3% | 10.6% | -1.9% | - | 31.6% | 75.8% | 43.0% | - |
| EPS CAGR (3y) | 13.5% | - | -7.6% | -2.6% | -4.4% | - | 4.7% | -0.2% | -5.2% | - |
| EPS CAGR (5y) | -2.7% | - | 3.5% | 20.5% | 5.5% | - | 5.6% | 5.2% | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | -10.1% | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 6.0% | -3.0% | -7.6% | -3.7% | -1.5% | 8.7% | 16.0% | 13.5% | 7.9% | 4.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$8.86B totalMaterials Group Segment$6.09B · 68.8%
Solutions Group Segment$2.76B · 31.2%
Product / service
$8.86B totalLabels Graphics And Reflectives$5.33B · 60.2%
Apparel And Other$1.81B · 20.5%
Identification Solutions And Vestcom$950.40M · 10.7%
Performance Materials$547.20M · 6.2%
Other Material Group Products$213.90M · 2.4%
Geographic
$10.55B totalUS$2.75B · 26.1%
Europe The Middle East And North Africa$2.15B · 20.3%
North America$1.94B · 18.4%
Asia$1.53B · 14.5%
China Including Hong Kong$1.35B · 12.8%
Latin America$469.50M · 4.5%
Other International$353.30M · 3.3%
Peer comparison
Same SIC group: Converted Paper & Paperboard Prods (No Contaners/Boxes)
Comparing Avery Dennison Corp against the 3 most active filers in the same SIC group.
Dividends
$3.82/share trailing 12 months · +6.7% YoY
| Ex-date | Per share |
|---|---|
| Jun 3, 2026 | $1.0000 |
| Mar 4, 2026 | $0.9400 |
| Dec 3, 2025 | $0.9400 |
| Sep 3, 2025 | $0.9400 |
| Jun 4, 2025 | $0.9400 |
| Mar 5, 2025 | $0.8800 |
| Dec 4, 2024 | $0.8800 |
| Sep 4, 2024 | $0.8800 |
| Jun 5, 2024 | $0.8800 |
| Mar 5, 2024 | $0.8100 |
| Dec 5, 2023 | $0.8100 |
| Sep 5, 2023 | $0.8100 |
| Jun 6, 2023 | $0.8100 |
| Feb 28, 2023 | $0.7500 |
| Dec 6, 2022 | $0.7500 |
| Sep 6, 2022 | $0.7500 |
| May 31, 2022 | $0.7500 |
| Mar 1, 2022 | $0.6800 |
| Nov 30, 2021 | $0.6800 |
| Aug 31, 2021 | $0.6800 |
| Jun 1, 2021 | $0.6800 |
| Mar 2, 2021 | $0.6200 |
| Dec 1, 2020 | $0.6200 |
| Sep 1, 2020 | $0.5800 |