Avery Dennison (AVY)

NYSE Materials Paper & Plastic Packaging Products & Materials S&P 500

$186.78

-2.92 (-1.54%)

Close of Nov 06, 2026 · end-of-day data

Source: Avery Dennison's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 04, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2021	FY2022	FY2022	FY2023	FY2024	FY2025
Revenue	$6.09B	$6.61B	$7.16B	$7.07B	$6.97B	$8.41B	$9.04B	$8.36B	$8.76B	$8.86B
Cost of revenue	$4.39B	$4.80B	$5.24B	$5.17B	$5.05B	$6.10B	$6.64B	$6.09B	$6.22B	$6.31B
Gross profit	$1.70B	$1.81B	$1.92B	$1.90B	$1.92B	$2.31B	$2.40B	$2.28B	$2.53B	$2.55B
Research & development	$89.70M	$93.40M	$98.20M	$92.60M	$112.80M	$136.60M	$136.10M	$135.80M	$137.80M	$136.60M
Selling, general & admin	$1.09B	$1.11B	$1.13B	$1.08B	$1.06B	$1.25B	$1.33B	$1.31B	$1.42B	$1.42B
Interest expense	$59.90M	$63.00M	$58.50M	$75.80M	$70.00M	$70.20M	$84.10M	$119.00M	$117.00M	$135.40M
Pre-tax income	$477.10M	$589.50M	$554.80M	$249.50M	$737.30M	$992.60M	$999.30M	$694.70M	$953.50M	$925.10M
Income tax	$156.40M	$307.70M	$85.40M	-$56.70M	$177.70M	$248.60M	$242.20M	$191.70M	$248.60M	$237.10M
Net income	$320.70M	$281.80M	$467.40M	$303.60M	$555.90M	$740.10M	$757.10M	$503.00M	$704.90M	$688.00M
EPS (basic)	$3.60	$3.19	$5.35	$3.61	$6.67	$8.93	$9.28	$6.23	$8.77	$8.81
EPS (diluted)	$3.54	$3.13	$5.28	$3.57	$6.61	$8.83	$9.21	$6.20	$8.73	$8.79
Diluted shares	90.70M	90.10M	88.60M	85.00M	84.10M	83.80M	82.20M	81.10M	80.70M	78.30M
Gross margin	27.9%	27.4%	26.8%	26.9%	27.6%	27.5%	26.6%	27.2%	28.9%	28.8%
Net margin	5.3%	4.3%	6.5%	4.3%	8.0%	8.8%	8.4%	6.0%	8.1%	7.8%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2021	FY2022	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$195.10M	$224.40M	$232.00M	$253.70M	$252.30M	$162.70M	$167.20M	$215.00M	$329.10M	$202.80M
Receivables	$1.00B	$1.18B	$1.19B	$1.21B	$1.24B	$1.42B	$1.37B	$1.41B	$1.47B	$1.50B
Inventory	$519.10M	$609.60M	$651.40M	$663.00M	$717.20M	$907.20M	$1.01B	$920.70M	$978.10M	$975.80M
Total current assets	$1.90B	$2.24B	$2.30B	$2.34B	$2.42B	$2.73B	$2.78B	$2.80B	$3.08B	$2.99B
Goodwill	$793.60M	$985.10M	$941.80M	$930.80M	$1.14B	$1.88B	$1.86B	$2.01B	$1.98B	$2.27B
Total assets	$4.40B	$5.14B	$5.18B	$5.49B	$6.08B	$7.97B	$7.95B	$8.21B	$8.40B	$8.80B
Total current liabilities	$2.00B	$1.97B	$1.99B	$2.25B	$1.93B	$2.55B	$2.80B	$2.70B	$2.86B	$2.65B
Short-term debt	$579.10M	$265.40M	$194.60M	$440.20M	$64.70M	$318.80M	$598.60M	$622.20M	$592.30M	$522.90M
Long-term debt	$713.40M	$1.32B	$1.75B	$1.48B	$2.03B	$2.77B	$2.50B	$2.62B	$2.55B	$3.20B
Total debt	$1.29B	$1.58B	$1.95B	$1.92B	$2.09B	$3.09B	$3.09B	$3.24B	$3.14B	$3.72B
Total liabilities	$3.47B	$4.10B	$4.22B	$4.28B	$4.60B	$6.05B	$5.92B	$6.08B	$6.09B	$6.56B
Shareholders' equity	$925.50M	$1.03B	$955.10M	$1.20B	$1.48B	$1.92B	$2.03B	$2.13B	$2.31B	$2.24B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2021	FY2022	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$582.10M	$645.70M	$457.90M	$746.50M	$751.30M	$1.05B	$961.00M	$826.00M	$938.80M	$881.40M
Capital expenditures	$176.90M	$190.50M	$226.70M	$219.40M	$201.40M	$255.00M	$278.10M	$265.30M	$208.80M	$169.00M
Free cash flow	$405.20M	$455.20M	$231.20M	$527.10M	$549.90M	$791.80M	$682.90M	$560.70M	$730.00M	$712.40M
Investing cash flow	-$432.20M	-$543.30M	-$232.50M	-$251.00M	-$554.20M	-$1.74B	-$332.70M	-$459.00M	-$243.10M	-$596.00M
Financing cash flow	-$106.20M	-$83.90M	-$208.10M	-$470.30M	-$207.70M	$604.30M	-$615.20M	-$317.20M	-$576.10M	-$414.90M
Dividends paid	$142.50M	$155.50M	$175.00M	$189.70M	$196.80M	$220.60M	$238.90M	$256.70M	$277.50M	$288.40M
Share buybacks	$262.40M	$129.70M	$392.90M	$237.70M	$104.30M	$180.90M	$379.50M	$137.50M	$247.50M	$572.30M
Stock-based compensation	$27.20M	$30.20M	$34.30M	$34.50M	$24.00M	$37.20M	$47.40M	$22.30M	$28.70M	$27.90M
Depreciation & amortization	$180.10M	$178.70M	$181.00M	$179.00M	$205.30M	$244.10M	$290.70M	$298.40M	$312.20M	$328.20M

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$2.11B	$2.15B	$2.24B	$2.18B	$2.19B	$2.15B	$2.22B	$2.22B	$2.27B	$2.30B	$2.46B	$2.33B
Cost of revenue	$1.51B	$1.52B	$1.57B	$1.56B	$1.58B	$1.53B	$1.58B	$1.58B	$1.62B	$1.63B	$1.73B	$1.68B
Gross profit	$596.00M	$632.20M	$662.70M	$626.60M	$609.20M	$621.50M	$639.10M	$635.00M	$650.70M	$664.80M	$729.40M	$654.80M
Selling, general & admin	$334.90M	$365.20M	$373.90M	$346.90M	$329.30M	$347.00M	$352.40M	$353.90M	$369.20M	$375.10M	$394.80M	$372.70M
Interest expense	$29.70M	$28.60M	$29.20M	$30.00M	$29.20M	$30.90M	$34.00M	$33.30M	$37.20M	$35.60M	$35.90M	$35.70M
Pre-tax income	$201.60M	$234.40M	$238.40M	$239.30M	$241.40M	$227.00M	$255.50M	$234.80M	$207.80M	$240.40M	$282.70M	$241.20M
Income tax	$58.50M	$62.00M	$61.60M	$57.60M	$67.40M	$60.70M	$66.50M	$68.50M	$41.40M	$72.30M	$78.60M	$71.50M
Net income	$143.10M	$172.40M	$176.80M	$181.70M	$174.00M	$166.30M	$189.00M	$166.30M	$166.40M	$168.10M	$204.10M	$169.70M
EPS (basic)	$1.77	$2.14	$2.19	$2.26	$2.17	$2.10	$2.42	$2.13	$2.17	$2.19	$2.67	$2.24
EPS (diluted)	$1.77	$2.13	$2.18	$2.25	$2.17	$2.09	$2.41	$2.13	$2.15	$2.18	$2.67	$2.24
Diluted shares	-100.00K	81.00M	81.00M	80.80M	-200.00K	79.40M	78.30M	78.00M	-300.00K	77.00M	76.40M	75.90M
Gross margin	28.2%	29.4%	29.6%	28.7%	27.9%	28.9%	28.8%	28.7%	28.7%	28.9%	29.6%	28.1%
Net margin	6.8%	8.0%	7.9%	8.3%	8.0%	7.7%	8.5%	7.5%	7.3%	7.3%	8.3%	7.3%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$215.00M	$185.70M	$208.80M	$212.70M	$329.10M	$195.90M	$215.90M	$536.30M	$202.80M	$255.10M	$227.30M	$271.40M
Receivables	$1.41B	$1.48B	$1.53B	$1.57B	$1.47B	$1.52B	$1.63B	$1.63B	$1.50B	$1.65B	$1.79B	$1.71B
Inventory	$920.70M	$972.50M	$979.90M	$1.01B	$978.10M	$1.02B	$1.03B	$1.04B	$975.80M	$989.40M	$1.03B	$1.05B
Total current assets	$2.80B	$2.89B	$2.97B	$3.08B	$3.08B	$3.03B	$3.18B	$3.52B	$2.99B	$3.22B	$3.40B	$3.38B
Goodwill	$2.01B	$1.99B	$1.99B	$2.01B	$1.98B	$1.99B	$2.03B	$2.03B	$2.27B	$2.26B	$2.26B	$2.26B
Total assets	$8.21B	$8.26B	$8.30B	$8.45B	$8.40B	$8.35B	$8.57B	$8.87B	$8.80B	$8.98B	$9.21B	$9.17B
Total current liabilities	$2.70B	$3.31B	$3.30B	$3.35B	$2.86B	$2.95B	$3.06B	$2.79B	$2.65B	$2.80B	$3.00B	$2.92B
Short-term debt	$622.20M	$1.17B	$1.17B	$1.12B	$592.30M	$877.50M	$922.00M	$578.80M	$522.90M	$605.00M	$500.50M	$440.80M
Long-term debt	$2.62B	$2.07B	$2.05B	$2.04B	$2.55B	$2.58B	$2.63B	$3.20B	$3.20B	$3.19B	$3.18B	$3.17B
Total debt	$3.24B	$3.24B	$3.22B	$3.16B	$3.14B	$3.46B	$3.55B	$3.78B	$3.72B	$3.79B	$3.68B	$3.62B
Total liabilities	$6.08B	$6.05B	$6.01B	$6.06B	$6.09B	$6.18B	$6.37B	$6.66B	$6.56B	$6.68B	$6.89B	$6.78B
Shareholders' equity	$2.13B	$2.20B	$2.29B	$2.39B	$2.31B	$2.17B	$2.20B	$2.21B	$2.24B	$2.30B	$2.32B	$2.39B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$311.90M	$119.80M	$197.70M	$270.10M	$351.20M	-$16.30M	$208.80M	$312.10M	$376.80M	$136.50M	$408.20M	$298.80M
Capital expenditures	$92.30M	$48.80M	$47.50M	$43.00M	$69.50M	$36.00M	$30.00M	$35.90M	$67.10M	$28.30M	$39.20M	$47.60M
Free cash flow	$219.60M	$71.00M	$150.20M	$227.10M	$281.70M	-$52.30M	$178.80M	$276.20M	$309.70M	$108.20M	$369.00M	$251.20M
Investing cash flow	-$114.80M	-$62.00M	-$56.80M	-$50.70M	-$73.60M	-$33.20M	-$28.00M	-$43.40M	-$491.40M	-$32.60M	-$117.80M	-$44.40M
Financing cash flow	-$194.50M	-$85.00M	-$117.10M	-$217.70M	-$156.30M	-$84.90M	-$163.60M	$52.90M	-$219.30M	-$50.60M	-$319.00M	-$210.70M
Dividends paid	$65.20M	$65.30M	$70.90M	$70.90M	$70.40M	$69.40M	$73.50M	$73.10M	$72.40M	$72.30M	$76.20M	$75.40M
Share buybacks	$20.40M	$15.60M	$25.10M	$66.80M	$140.00M	$261.60M	$98.40M	$93.60M	$118.70M	$60.60M	$137.60M	$59.00M
Stock-based compensation	$4.90M	$7.50M	$9.90M	$6.80M	$4.50M	$7.90M	$6.80M	$8.00M	$5.20M	$5.80M	$6.40M	$10.10M
Depreciation & amortization	$48.90M	$77.30M	$78.60M	$78.10M	$78.20M	$77.90M	$80.80M	$84.00M	$85.50M	$86.80M	$86.40M	$85.60M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.