— Know what they know.
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Not Investment Advice

AVY

NYSE · USD
Avery Dennison Corporation
Consumer Cyclical · Packaging & Containers
CEO Deon Stander Employees 35,000 R&D / revenue 0.0%
Last price
$175.31−0.32%last session
Market cap
$13.3B
P/E (TTM)
19.2x
From 52w high
−12.1%
From 52w low
+15.0%
1-year return
+12.5%
RSI 14 · vs SMA200
60.5 · +2.8%
IS score
62.2/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

AVY   SPY   XLY (sector ETF) · weekly closes
100110120Jan 26Apr 26Jul 26Oct 26SPY 116AVY 113XLY 97

Score DNA

Each bar is a 0-100 score within the scored universe
51
Profitability
45
Growth
53
Value
73
Momentum
80
Risk (safety)
71
Quality
43
Balance sheet
69
Earnings quality

Flags

Strengths
✓ Piotroski 8+✓ FCF yield 5%+
Warnings
None of the computed warning flags fires for AVY (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Narrow, Efficient ScalePiotroski 8 / 9Altman Z 3.4Beta 0.812 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
2 open-market sales, $962,209
Form 144 notices (12m): 7, $11.7M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
0
No disclosed purchases
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
−7
101 new holders, 99 closed
787 filers hold 98.7% · 280 added, 277 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+56
611 funds adding shares
555 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
58.2%
20-day avg 49.0%, 50-day avg 52.3%
Latest 9.2 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$8.9B
Revenue growth YoY+1.1%
Gross margin28.8%
Operating income$1.1B
Operating margin12.5%
Net income$688.0M
Net margin7.8%
EPS (diluted)$8.78
Cash flow
Operating cash flow$881.4M
Capital expenditure$169.0M
Free cash flow$712.4M
FCF conversion (FCF / OCF)80.8%
Stock-based compensation$27.9M
FCF less SBC$684.5M
Buybacks$572.3M
Dividends$288.4M
Balance sheet & returns
Cash & short-term investments$202.8M
Total debt$3.7B
Net debt$3.5B
Shareholders' equity$2.2B
Goodwill & intangibles$3.1B
Debt / equity1.58
ROE (TTM)31.1%
ROIC (TTM)12.5%
Operating margin by fiscal year
12.7%FY202111.9%FY202211.4%FY202312.7%FY202412.5%FY2025
Revenue $8.4B (FY2021) to $8.9B (FY2025), a 1.3% CAGR.

Valuation

P/E (TTM)19.2x
EV / EBITDA11.5x
Price / sales1.44x
Price / FCF12.5x
FCF yield8.00%
Buyback yield4.31%
SBC / revenue0.3%
Price / book5.79x
Forward P/E FY202617.1x
Forward P/E FY202617.2x
Forward P/E FY202715.3x
Forward multiples divide today's price by Street EPS estimates. Street mean target $204.67 across 3 analysts last quarter is theirs, not ours.

AVY vs industry median

58 companies in Packaging & Containers
Gross margin 29.0% 20.4% Operating margin 12.4% 6.2% Net margin 7.6% 2.0% ROIC 12.5% 8.0%
AVY (TTM)Industry median Asset turnover 1.00 vs industry 0.79 · financial leverage 3.97

Earnings delivery

Next report 2026-10-29 · consensus EPS $2.32
67%
beat rate, 8 of 12 quarters
+1.5%
median EPS surprise
5
longest beat streak
+0+0+7+7+0-0-1+1+2+2+2+17
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-25 to 2026-07-30. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
AVY Avery Dennison Corporation $13.3B19.2x31.1%7.6%+1.1% +12.5%
CCK Crown Holdings, Inc. $12.4B16.4x27.2%6.7%+10.3% +23.9%
BALL Ball Corporation $16.7B17.9x17.3%5.5%+15.7% +33.3%
AMCR Amcor plc $20.3B16.5x9.4%6.1%+56.6% +14.3%
PKG Packaging Corporation of Ame $21.0B30.5x14.9%7.7%+10.3% +15.7%
SW Smurfit Westrock plc $21.6B43.3x2.7%1.1%+8.3% —
SEE Sealed Air Corporation $6.2B15.8x54.3%8.1%−0.6% —
SON Sonoco Products Company $4.9B7.7x18.9%5.6%+31.7% —
12-month window: SPY +15.9%, sector ETF XLY −3.2%. Past returns describe history only.

Recent 8-K filings

2026-10-13Officer/Director Change; Exhibits
2026-10-05Officer/Director Change
2026-08-19Other Events
2026-07-30Earnings Release; Exhibits
2026-06-04Officer/Director Change; Exhibits
2026-05-01Shareholder Vote; Exhibits

Context

Shares outstanding75,813,945
Free float99.3%
Institutional ownership98.7%
Beta0.81
Dividend yield2.21%
Last dividend$1.00 on 2026-09-02
50 / 200-day average$173.84 / $172.20
Large-cap Consumer Cyclical median P/E24.3x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where AVY sits among 16 scored companies in Packaging & Containers (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureAVYIndustry medianIndustry percentileSector median
P/E (TTM) 18.9x 17.7x
64th		 17.7x
PEG (P/E ÷ 3-yr EPS CAGR) 1.97 0.74
100th		 0.96
Price / sales 1.4x 1.0x
73rd		 1.0x
Price / book 5.7x 1.7x
93rd		 2.4x
Price / tangible book —
Price / free cash flow 12.5x 12.5x
50th		 15.2x
Price / operating cash flow 10.8x 7.5x
69th		 10.2x
Enterprise value $16.7B $8.3B
67th		 $5.6B
EV / sales 1.8x 1.4x
80th		 1.4x
EV / EBITDA 11.5x 9.1x
87th		 11.4x
EV / EBIT 15.1x 15.6x
33rd		 16.0x
EV / free cash flow 15.7x 23.4x
17th		 21.0x
Earnings yield 5.3% 5.6%
40th		 4.8%
FCF yield 8.0% 7.6%
60th		 5.9%
Operating cash flow yield 9.3% 12.0%
40th		 9.3%
Graham number (per share) $79.13 $53.05
69th		 $33.39

Profitability (TTM)

MeasureAVYIndustry medianIndustry percentileSector median
Gross margin 29.0% 19.7%
87th		 34.2%
EBITDA margin 15.7% 15.3%
60th		 11.7%
Operating margin 12.4% 8.5%
73rd		 8.7%
EBIT margin 12.0% 9.1%
73rd		 8.2%
Net margin 7.6% 6.8%
67th		 4.9%
NOPAT margin 9.1% 7.0%
67th		 6.8%
FCF margin 11.5% 5.6%
87th		 6.5%
Operating cash flow margin 13.3% 9.8%
80th		 10.4%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 16.1% 9.7%
67th		 17.2%
Stock comp / revenue 0.3% 0.2%
60th		 0.6%
Effective tax rate 27.0% 23.6%
73rd		 22.4%

Returns on capital

MeasureAVYIndustry medianIndustry percentileSector median
ROE (on average equity) 31.2% 17.7%
79th		 12.8%
ROA 7.9% 5.5%
73rd		 4.4%
ROIC 14.5% 8.2%
87th		 9.3%
ROCE 17.8% 7.9%
93rd		 9.9%
Return on tangible assets 12.5% 5.7%
93rd		 7.4%
Cash ROIC (OCF / invested capital) 21.4% 10.9%
87th		 14.4%
Gross profitability (GP / assets) 29.1% 13.1%
87th		 31.6%
ROIC, 3-yr average 11.7% 6.2%
85th		 7.4%
ROIC, 5-yr average 15.5% 7.5%
92nd		 9.1%
ROE, 5-yr average 31.5% 18.5%
100th		 15.8%
Incremental ROIC 128.0% -37.1%
87th		 11.2%

Growth

MeasureAVYIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 5.8% 8.4%
40th		 6.0%
Revenue growth (QoQ) 7.2% 8.7%
27th		 6.6%
Revenue CAGR, 3 yr 2.9% 2.2%
71st		 3.0%
Revenue CAGR, 5 yr 3.3% 4.2%
38th		 5.9%
Gross profit CAGR, 3 yr 6.6% 1.6%
71st		 3.3%
Operating income CAGR, 3 yr 7.7% 3.5%
57th		 2.1%
Net income growth (TTM YoY) -0.9% 56.6%
21st		 4.7%
Net income CAGR, 3 yr 7.6% 6.7%
54th		 1.4%
EPS growth (TTM YoY) 1.2% 48.7%
21st		 7.6%
EPS CAGR, 3 yr 9.6% 11.0%
38th		 3.4%
EPS CAGR, 5 yr 0.9% 6.3%
20th		 2.9%
FCF growth (TTM YoY) 69.8% 65.3%
55th		 26.3%
FCF CAGR, 3 yr 33.2% 16.3%
62nd		 6.5%
Operating cash flow CAGR, 3 yr 17.6% 16.9%
58th		 6.7%
Book value CAGR, 3 yr 6.8% 11.5%
23rd		 8.1%
Dividend CAGR, 3 yr 3.0% 2.9%
62nd		 3.2%
Sustainable growth rate 18.2% 10.9%
69th		 12.2%

Margin history & stability

MeasureAVYIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 28.8% 20.9%
86th		 34.9%
Operating margin, 3-yr average 12.5% 8.8%
93rd		 8.0%
Net margin, 3-yr average 7.7% 7.7%
50th		 4.8%
FCF margin, 3-yr average 8.9% 5.5%
86th		 5.7%
Revenue stability (0-1) 0.95 0.68
100th		 0.80
Earnings stability (0-1) 0.03 0.16
43rd		 0.43
Margin stability (0-1) 0.96 0.95
79th		 0.92

Liquidity (latest quarter)

MeasureAVYIndustry medianIndustry percentileSector median
Cash & short-term investments $227.3M $313.8M
33rd		 $278.1M
Net cash (− = net debt) −$3.5B −$4.3B
67th		 −$1.2B
Working capital $395.5M $412.8M
47th		 $298.0M
Current ratio 1.13 1.28
27th		 1.49
Quick ratio 0.79 0.79
47th		 0.92
Cash ratio (cash + ST investments / current liabilities) 0.08 0.15
7th		 0.31
Defensive interval (days) 481 days 615 days
13th		 290 days

Leverage & solvency (latest quarter)

MeasureAVYIndustry medianIndustry percentileSector median
Total debt $3.7B $4.6B
33rd		 $1.8B
Debt / equity 1.58 1.26
71st		 1.04
Net debt / equity 1.49 1.17
71st		 0.78
Debt / assets 39.9% 40.0%
40th		 39.7%
Debt / capital 61.3% 55.7%
71st		 51.0%
Debt / EBITDA 2.54 3.20
27th		 3.26
Net debt / EBITDA 2.38 2.80
40th		 2.42
Interest coverage (EBIT / interest) 7.8x 3.3x
85th		 5.1x
Cash interest coverage 8.7x 3.8x
87th		 6.0x
Debt payback (years of OCF) 3.0 yrs 4.7 yrs
23rd		 3.8 yrs
Liabilities / assets 74.8% 67.7%
73rd		 68.1%
IS credit model rating A- — —
Implied credit spread (bps) 175 375
13th		 275

Efficiency

MeasureAVYIndustry medianIndustry percentileSector median
Asset turnover 1.04 0.74
87th		 1.00
Fixed asset turnover 5.91 2.51
100th		 3.73
Inventory turnover 6.4 5.6
67th		 5.3
Receivables turnover 5.4 6.6
27th		 19.9
Days sales outstanding 68 days 55 days
73rd		 18 days
Days inventory outstanding 57 days 65 days
33rd		 68 days
Days payables outstanding 79 days 69 days
67th		 42 days
Cash conversion cycle (days) 46 days 62 days
33rd		 44 days
Capex / revenue 1.8% 4.1%
7th		 3.1%
Capex / depreciation 0.50 0.72
33rd		 0.89
Operating expense ratio 16.9% 11.7%
80th		 24.8%

Cash flow & earnings quality

MeasureAVYIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.75 2.04
43rd		 1.76
FCF / net income 1.51 1.07
71st		 1.18
FCF / operating cash flow 86.2% 61.7%
92nd		 70.1%
Capex / operating cash flow 13.8% 38.3%
8th		 29.9%
Accruals ratio -5.9% -4.6%
40th		 -5.7%
Sloan accruals ratio -0.8% -5.5%
87th		 -3.6%
Earnings quality score (0-1) 0.75 0.75
21st		 0.75

Dividends & buybacks

MeasureAVYIndustry medianIndustry percentileSector median
Dividend yield 2.2% 2.6%
40th		 0.8%
Dividend per share (TTM) $3.88 $1.55
93rd		 $0.40
Payout ratio (dividends / net income) 41.7% 41.7%
50th		 17.8%
Dividends / FCF 27.7% 52.1%
33rd		 11.6%
Dividend growth (YoY) 5.6% 1.9%
57th		 4.8%
Buyback yield 3.1% 2.7%
60th		 1.6%
Shareholder yield (dividends + buybacks) 5.3% 4.8%
53rd		 3.7%
Share count change (YoY) -2.0% -0.9%
20th		 -0.9%
Buybacks, last 5 years $2.5B $232.2M
93rd		 $198.3M

Scores & forensic checks

MeasureAVYIndustry medianIndustry percentileSector median
IS score 62 52
93rd		 50
IS profitability 51 38
73rd		 38
IS growth 45 49
40th		 53
IS value 53 58
27th		 50
IS momentum 73 76
47th		 72
IS risk (safety) 80 58
87th		 65
IS quality 71 61
87th		 63
IS balance sheet 43 42
53rd		 48
IS earnings quality 69 71
40th		 77
IS cash flow 70 56
93rd		 56
Piotroski F-score (0-9) 8 6
80th		 6
Altman Z-score 3.4 2.4
87th		 2.8
Beneish M-score −2.64 −2.51
40th		 −2.69
Ohlson O-score −6.65 −7.00
73rd		 −6.83
IS credit score 69 51
80th		 58

Per share

MeasureAVYIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $9.19 $3.05
80th		 $2.05
Book value per share $30.28 $25.77
60th		 $14.46
Tangible book per share −$9.33 $0.06
13th		 $3.70
Revenue per share $120.57 $55.74
93rd		 $46.29
FCF per share $13.86 $2.81
100th		 $2.72
Operating cash flow per share $16.08 $5.10
93rd		 $4.86
Cash per share $2.96 $2.55
60th		 $3.59

Size (TTM)

MeasureAVYIndustry medianIndustry percentileSector median
Market cap $13.3B $3.9B
73rd		 $3.6B
Revenue $9.2B $7.1B
67th		 $3.9B
EBITDA $1.5B $996.4M
60th		 $442.3M
Net income $704.9M $668.9M
60th		 $178.6M
Free cash flow $1.1B $319.9M
87th		 $206.3M
Total assets $9.2B $9.4B
47th		 $4.4B
Shareholders' equity $2.3B $2.9B
33rd		 $957.6M
Employees 35,000 17,060
87th		 12,300

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-15Colisto Nicholas
SVP & CIO
 Open-market sale 3,886$170.68$663,2647,126
2026-09-01Wagner William Raymond
Director
 Award / grant 344——344
2026-09-01Allouche Danny Gilad
President, Materials Group
 Award / grant 351——351
2026-09-01Allouche Danny Gilad
President, Materials Group
 Award / grant 243——243
2026-09-01Allouche Danny Gilad
President, Materials Group
 Award / grant 2,866——2,866
2026-08-14Butier Mitchell R
Director
 Discretionary 2,185$178.93$390,8870
2026-08-13Butier Mitchell R
Director
 Discretionary 2,185$180.01$393,2462,185
2026-08-04Walker Ignacio J
SVP and Chief Legal Officer
 Open-market sale 1,742$171.61$298,9457,585
2026-07-23Flitman David E
Director
 Option exercise 765$156.11$119,424765
2026-07-23Flitman David E
Director
 Option exercise 765——0
2026-05-01Flitman David E
Director
 Award / grant 1,128——1,128
2026-05-01Alford Bradley A
Director
 Option exercise 1,087$164.01$178,27928,093

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarMayJulAugSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired1314,657—
DiscretionaryDisposed24,369$784,133
Open-market saleDisposed25,628$962,209
Option exerciseAcquired910,137$1.7M
Option exerciseDisposed910,137—
Tax withholdingDisposed2654$107,263
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 7 notices · 64,673 shares · $11.7M
FiledFilerShares proposedEst. proceeds
2026-09-15Colisto Nicholas3,886$663,264
2026-08-04Walker Ignacio J1,742$298,945
2026-08-03Yost Ryan D4,889$842,179
2026-03-12Butier Mitchell R13,000$2.3M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 0 trades (0 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2025-09-29Ro KhannaHousePurchase$1,001 - $15,0002025-10-03
2025-04-08Rob BresnahanHouseSale (Full)$1,001 - $15,0002025-05-08
2025-04-07Robert P. BresnahanHouseSale (Full)$1,001 - $15,0002025-05-08
2025-02-25Rob BresnahanHouseSale$1,001 - $15,0002025-03-28
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.6,482,687$1.1B8.55%
WELLINGTON MANAGEMENT GROUP LLP5,788,479$939.8M7.64%
VANGUARD CAPITAL MANAGEMENT LLC5,004,194$812.4M6.60%
VANGUARD PORTFOLIO MANAGEMENT LLC4,865,518$789.9M6.42%
STATE STREET CORP4,044,695$656.7M5.34%
AMERIPRISE FINANCIAL INC2,294,307$372.5M3.03%
GEODE CAPITAL MANAGEMENT, LLC2,172,120$351.3M2.87%
Invesco Ltd.1,560,021$253.3M2.06%
PRICE T ROWE ASSOCIATES INC /MD/1,510,834$245.3M1.99%
T. Rowe Price Investment Management, Inc.1,389,142$225.5M1.83%
DIMENSIONAL FUND ADVISORS LP1,053,079$171.0M1.39%
MASSACHUSETTS FINANCIAL SERVICES CO /MA/1,045,156$169.7M1.38%
NORGES BANK981,301$159.3M1.29%
FIDUCIARY MANAGEMENT INC /WI/935,794$151.9M1.23%
BANK OF AMERICA CORP /DE/875,697$142.2M1.16%

Institutional ownership by quarter

2023-092026-0698.7%
% of shares held by 13F filers
2023-092026-06787
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-3078798.7%10128027799
2026-03-3179494.3%9724430486
2025-12-3180496.8%15226625673
2025-09-3073994.4%7023329189
2025-06-3077097.1%10224429298
2025-03-3177896.0%8027427891
2024-12-3179997.6%119265284104
2024-09-3080596.9%9827627783
2024-06-3079997.0%9428625860
2024-03-3178096.6%10123728253
2023-12-3173799.6%11423226260
2023-09-3069499.2%8621523653

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-08-07SCHEDULE 13GSTATE STREET CORPORATION5.3%4,048,625
2026-04-29SCHEDULE 13GVanguard Capital Management7.5%5,795,652
2026-04-28SCHEDULE 13GVanguard Portfolio Management6.3%4,873,512
2025-10-30SCHEDULE 13G/AThe Vanguard Group13.3%10,378,723
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VEIRX0.86%$566.6M
VEIPX0.86%$566.6M
VITSX0.02%$409.0M
VTI0.02%$409.0M
VSMPX0.02%$409.0M
VTSAX0.02%$409.0M

Share structure

Shares outstanding75,813,945
Float75,297,903
Free float99.3%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$8.4B$9.0B$8.4B$8.8B$8.9B
Cost of revenue$6.1B$6.6B$6.1B$6.2B$6.3B
Gross profit$2.3B$2.4B$2.3B$2.5B$2.5B
R&D$136.6M$136.1M$135.8M$137.8M$0
SG&A$1.1B$1.2B$1.2B$1.3B$1.4B
Operating income$1.0B$1.1B$954.9M$1.1B$1.1B
EBITDA$1.3B$1.4B$1.1B$1.4B$1.3B
Pretax income$988.7M$999.3M$694.7M$953.5M$925.1M
Income tax$248.6M$242.2M$191.7M$248.6M$237.1M
Net income$740.1M$757.1M$503.0M$704.9M$688.0M
EPS, diluted$8.83$9.21$6.20$8.73$8.78
Diluted shares83.8M82.2M81.1M80.7M77.4M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$162.7M$167.2M$215.0M$367.2M$202.8M
Receivables$1.4B$1.4B$1.4B$1.5B$1.5B
Inventory$907.2M$1.0B$920.7M$978.1M$975.8M
Total current assets$2.7B$2.8B$2.8B$3.1B$3.0B
PP&E, net$1.5B$1.5B$1.6B$1.6B$1.6B
Goodwill & intangibles$2.8B$2.7B$2.9B$2.7B$3.1B
Total assets$8.0B$8.0B$8.2B$8.4B$8.8B
Accounts payable$1.3B$1.3B$1.3B$1.3B$1.3B
Total current liabilities$2.5B$2.8B$2.7B$2.9B$2.7B
Long-term debt$2.8B$2.5B$2.6B$2.6B$3.2B
Total liabilities$6.0B$5.9B$6.1B$6.1B$6.6B
Shareholders' equity$1.9B$2.0B$2.1B$2.3B$2.2B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$740.1M$757.1M$503.0M$704.9M$688.0M
Depreciation & amortization$244.1M$290.7M$298.4M$312.2M$206.4M
Stock-based compensation$37.2M$47.4M$22.3M$28.7M$27.9M
Change in working capital−$24.6M−$226.2M−$60.3M−$203.1M−$242.8M
Operating cash flow$1.0B$961.0M$826.0M$938.8M$881.4M
Capital expenditure−$272.1M−$298.5M−$285.1M−$208.8M−$169.0M
Free cash flow$774.7M$662.5M$540.9M$730.0M$712.4M
Investing cash flow−$1.7B−$332.7M−$459.0M−$243.1M−$596.0M
Net debt issued / repaid$1.0B$28.3M$102.4M−$37.9M$439.6M
Buybacks−$180.9M−$379.5M−$137.5M−$255.9M−$572.3M
Dividends paid−$220.6M−$238.9M−$256.7M−$277.5M−$288.4M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin27.5%26.6%27.2%28.9%28.8%
Operating margin12.7%11.9%11.4%12.7%12.5%
Net margin8.8%8.4%6.0%8.1%7.8%
FCF margin9.2%7.3%6.5%8.1%8.0%
ROE43.2%38.3%24.2%31.8%30.2%
ROIC16.4%16.4%13.4%16.2%14.2%
ROA10.5%9.5%6.2%8.5%8.0%
Debt / equity1.611.531.521.361.66
Interest coverage15.1x12.9x6.8x9.1x7.8x
Current ratio1.070.991.041.081.13
Revenue growth+20.6%+7.5%−7.5%+4.7%+1.1%
EPS growth+33.9%+4.8%−33.1%+41.2%+1.4%
P/E at year end22.8x18.5x31.4x21.1x20.5x
EV / EBITDA at year end15.2x12.3x16.9x12.7x12.7x
FCF yield at year end4.59%4.74%3.43%4.77%5.06%
Dividend payout29.8%31.6%51.0%39.4%41.9%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Label And Graphic Materials Segment$6.2B$6.5B$5.8B$6.0B−$174.0M
Retail Branding And Information Solutions Segment$2.2B$2.5B$2.6B$2.7B−$55.1M

Revenue by region · FY2025

UNITED STATES$2.8B · 31%
Asia$2.7B · 31%
Europe$2.5B · 28%
Latin America$567.3M · 6%
Other International$353.3M · 4%

Street estimates by fiscal year

Next report 2026-10-29 · consensus EPS $2.32 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$9.3B$9.2B – $9.3B$10.26$9.99 – $10.54517.1x
2026$9.3B$9.3B – $9.4B$10.18$10.11 – $10.28717.2x
2027$9.6B$9.6B – $9.7B$11.49$11.10 – $12.01315.3x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-30$2.47$2.89+17.0%$2.3B$2.5B+7.3%
2026-04-28$2.41$2.47+2.5%$2.3B$2.3B+1.7%
2026-02-04$2.40$2.45+2.1%$2.3B$2.3B−0.5%
2025-10-22$2.33$2.37+1.7%$2.2B$2.2B−0.1%
2025-07-22$2.39$2.42+1.3%$2.2B$2.2B−1.0%
2025-04-23$2.32$2.30−0.9%$2.2B$2.1B−0.1%
2025-01-30$2.39$2.38−0.4%$2.2B$2.2B−0.1%
2024-10-23$2.33$2.330.0%$2.2B$2.2B−0.8%
2024-07-23$2.26$2.42+7.1%$2.2B$2.2B+2.4%
2024-04-24$2.15$2.29+6.5%$2.2B$2.2B+0.0%
2024-01-31$2.15$2.16+0.5%$2.1B$2.1B+0.8%
2023-10-25$2.10$2.100.0%$2.2B$2.1B−3.4%
2023-07-25$2.01$1.92−4.5%$2.2B$2.1B−3.1%
2023-04-26$1.66$1.70+2.4%$2.2B$2.1B−5.1%
2023-02-02$2.02$1.65−18.3%$2.2B$2.0B−6.1%
2022-10-26$2.46$2.460.0%$2.3B$2.3B+0.5%
2022-07-27$2.36$2.64+11.9%$2.3B$2.3B+0.8%
2022-04-26$2.17$2.40+10.6%$2.3B$2.3B+3.1%
2022-02-02$2.12$2.13+0.5%$2.1B$2.2B+2.8%
2021-10-27$2.04$2.14+4.9%$2.1B$2.1B−2.5%
2021-07-28$2.06$2.25+9.2%$2.0B$2.1B+6.7%
2021-04-28$2.03$2.40+18.2%$1.9B$2.1B+8.6%
2021-02-03$2.09$2.27+8.6%$6.1B$2.0B−67.6%
2020-10-21$1.53$1.91+24.8%$1.4B$1.7B+24.8%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.106-150.206-220.106-290.207-060.207-130.107-200.307-270.208-030.208-100.108-170.208-240.208-31
Week ofNotionalSharesTrades
2026-08-31$225.1M1,290,51745,804
2026-08-24$187.9M1,040,30738,723
2026-08-17$147.1M814,87334,078
2026-08-10$201.2M1,123,63439,784
2026-08-03$224.9M1,296,49243,382
2026-07-27$346.1M2,014,91054,972

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1558.2%
DateShort shareShort volumeTotal volume
2026-10-1558.2%106,696183,438
2026-10-1461.3%143,070233,409
2026-10-1358.2%117,876202,367
2026-10-1259.2%70,792119,621
2026-10-0953.2%91,854172,503
2026-10-0854.0%101,800188,691
2026-10-0753.8%106,908198,666
2026-10-0655.0%127,707232,281
2026-10-0540.4%119,163294,627
2026-10-0256.0%101,004180,353
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
-0.4Jan-0.1Feb+0.9Mar+2.8Apr+0.1May-1.3Jun+1.6Jul+0.8Aug-0.2Sep+1.5Oct+2.5Nov+2.4Dec
MonthAvg returnUp yearsYears
Jan−0.4%55%20
Feb−0.1%55%20
Mar+0.9%52%21
Apr+2.8%50%20
May+0.1%60%20
Jun−1.3%40%20
Jul+1.6%65%20
Aug+0.8%60%20
Sep−0.2%55%20
Oct+1.5%65%20
Nov+2.5%75%20
Dec+2.4%70%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1460.5
MFI53.2
ADX12.8
Stochastic %K / %D82.0 / 73.5
Williams %R-22.0
CCI223
TSI / signal1.6 / -5.3
Chaikin money flow0.09
ATR$3.75
Bollinger width5.5%
Volume vs 20-day avg0.87x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$170.53 (+2.8%)
SMA 50$173.50 (+1.0%)
SMA 200$170.55 (+2.8%)
EMA 21$171.10 (+2.5%)
EMA 50$170.75 (+2.7%)
EMA 200$169.65 (+3.3%)
Bollinger upper$175.19 (+0.1%)
Bollinger lower$165.86 (+5.7%)
Parabolic SAR$164.78 (+6.4%)
Open the live chart, 110+ indicators

About Avery Dennison Corporation

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the North America, Europe, the Middle East, North Africa, Asia, and Latin America. It offers pressure-sensitive label materials, which consist of papers, plastic films, and metal foils; performance tapes products, including mechanical fasteners, which are precision-extruded and injection-molded plastic devices; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, and Avery Dennison brands. The company provides graphics and reflective products that include films and other products for the architectural, commercial sign, digital printing, and other related market segments; durable cast and reflective films to the construction, automotive, and fleet transportation markets; sign shops, commercial printers, and designers for pressure-sensitive materials; reflective films for traffic and safety applications; and pressure-sensitive vinyl and specialty materials for digital imaging, screen printing, and sign cutting applications under the Avery Dennison and Mactac brand names. In addition, it offers branding solutions, which include brand embellishments, graphic tickets, tags, labels, and sustainable packaging; information solutions, such as item-level RFID, visibility and loss prevention, price ticketing and marking, productivity and media, and brand protection and security solutions; and shelf-edge productivity and media solutions under the Vestcom brand names, as well as care, content, and country of origin compliance solutions. It serves home and personal care, apparel, general retail, e-commerce, logistics, food and grocery, pharmaceuticals, and automotive industries. The company was formerly known as Avery International Corporation and changed its name to Avery Dennison Corporation in 1990. The company was founded in 1935 and is headquartered in Mentor, Ohio.

https://www.averydennison.com

Key executives

NameTitlePayBorn
Deon StanderPresident, Chief Executive Officer & Director$1.9M1969
Gregory S. LovinsChief Financial Officer, Senior Vice President & Principal Financial Officer$1.2M1973
Danny AllouchePresident of Materials Group$1.1M1975
Deena Baker-NelSenior Vice President & Chief Human Resources Officer$847,0471971
Ignacio J. WalkerSenior Vice President & Chief Legal Officer$750,0421977
Francisco MeloPresident of Intelligent Labels Technologies and Digital Solutions$707,8851974
Nicholas R. ColistoSenior Vice President & Chief Information Officer$563,4401967
Mitchell R. ButierExecutive Chairman$232,5001971

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Deon M. Stander President & Chief Executive Officer2025$1.1M$7.6M$605,475$9.5M
Gregory S. Lovins SVP & Chief Financial Officer2025$810,867$2.0M$245,261$3.2M
Danny G. Allouche SVP & Chief Strategy and Corporate Development Officer; former Interim CFO2025$547,592$1.4M$137,467$2.5M
Deena Baker-Nel SVP & Chief Human Resources Officer2025$562,154$1.5M$133,380$2.3M
Ryan D. Yost President, Materials Group2025$555,692$1.1M$156,492$1.9M
Ignacio J. Walker SVP & Chief Legal Officer2025$548,300$659,934$109,601$1.4M

Employees

30k201830k201932k202136k202236k202235k202335k202435k2025

Dividends

Ex-dateAmountPaid
2026-09-02$12026-09-16
2026-06-03$12026-06-17
2026-03-04$0.942026-03-18
2025-12-03$0.942025-12-17
2025-09-03$0.942025-09-17
2025-06-04$0.942025-06-18
2025-03-05$0.882025-03-19
2024-12-04$0.882024-12-18

Moat model

Narrow · Efficient Scale · 2026-06-30
Cost advantage62
Intangibles59
Switching costs58
Network effect35
Efficient scale78
Our component scores (0-100) and overall 58.6; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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