NYSE · Financial Statements

Avery Dennison Corporation (AVY) Financial Statements

$181.83 NYSE: AVY Market Cap $13.78B

Avery Dennison Corporation most recently reported annual revenue of $8.9B, net profit of $688.0M. Revenue grew at an average annual rate of 4.9% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Avery Dennison Corporation: Revenue rose from $6.1B in 2016 to $8.9B in 2025, a change of +45.5% over 9 years; net profit was positive in all 10 reported years; operating margin moved from 9.8% to 12.5%, a shift of +2.6 percentage points; the most recent year shows net profit of $688.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$6.1B$6.6B$7.2B$7.1B$7.0B$8.4B$9.0B$8.4B$8.8B$8.9B
Operating Expenses$5.5B$5.9B$6.3B$6.3B$6.1B$7.4B$8.0B$7.4B$7.6B$7.8B
Operating Profit$599.0M$751.0M$809.0M$820.0M$875.0M$1.0B$1.1B$955.0M$1.1B$1.1B
Operating Margin9.8%11.3%11.3%11.6%12.6%12.4%11.9%11.4%12.9%12.5%
Other Income$-122.0M$-161.0M$-256.0M$-573.0M$-141.0M$-51.0M$-73.0M$-260.0M$-174.0M$-179.0M
Interest$60.0M$63.0M$59.0M$76.0M$70.0M$70.0M$84.0M$119.0M$117.0M$135.0M
Depreciation$180.0M$179.0M$181.0M$179.0M$205.0M$244.0M$291.0M$298.0M$312.0M$243.0M
Profit Before Tax$477.0M$590.0M$553.0M$247.0M$734.0M$989.0M$999.0M$695.0M$954.0M$925.0M
Tax$32.8M$52.2M$15.4M$-23.0M$24.2M$25.1M$24.2M$27.6M$26.1M$25.6M
Net Profit$321.0M$282.0M$467.0M$304.0M$556.0M$740.0M$757.0M$503.0M$705.0M$688.0M
EPS$3.54$3.13$5.28$3.57$6.61$8.83$9.21$6.20$8.73$8.78
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$2.1B$2.1B$2.2B$2.2B$2.2B$2.2B$2.1B$2.2B$2.2B$2.3B$2.3B$2.5B
Operating Expenses$1.8B$1.8B$1.9B$1.9B$1.9B$1.9B$1.9B$1.9B$1.9B$2.0B$2.0B$2.1B
Operating Profit$253.0M$261.0M$267.0M$289.0M$280.0M$280.0M$255.0M$287.0M$281.0M$282.0M$272.0M$314.0M
Operating Margin12.1%12.4%12.4%12.9%12.8%12.8%11.8%12.9%12.7%12.4%11.8%12.7%
Interest$31.0M$30.0M$29.0M$29.0M$30.0M$29.0M$31.0M$34.0M$33.0M$37.0M$36.0M$36.0M
Profit Before Tax$185.0M$202.0M$234.0M$238.0M$239.0M$241.0M$227.0M$256.0M$235.0M$208.0M$240.0M$283.0M
Tax$25.1M$29.0M$26.4M$25.8M$24.1M$27.9M$26.7M$26.0M$29.2M$19.9M$30.1M$27.8M
Net Profit$138.0M$143.0M$172.0M$177.0M$182.0M$174.0M$166.0M$189.0M$166.0M$166.0M$168.0M$204.0M
EPS$1.71$1.77$2.13$2.18$2.25$2.16$2.09$2.41$2.13$2.15$2.18$2.67

Over the 10 years reported for Avery Dennison Corporation, borrowings increased from $1.3B in 2016 to $3.7B in 2025, cash stood at $203.0M in the latest year, shareholders' equity was $124.0M, current assets covered current liabilities 1.13 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$4.4B$5.1B$5.2B$5.5B$6.1B$8.0B$8.0B$8.2B$8.4B$8.8B
Current Assets$1.9B$2.2B$2.3B$2.3B$2.4B$2.7B$2.8B$2.8B$3.1B$3.0B
Cash$195.0M$224.0M$232.0M$254.0M$252.0M$163.0M$167.0M$215.0M$329.0M$203.0M
Inventory$519.0M$610.0M$651.0M$663.0M$717.0M$907.0M$1.0B$921.0M$978.0M$976.0M
Receivables$1.0B$1.2B$1.2B$1.2B$1.2B$1.4B$1.4B$1.4B$1.5B$1.5B
Fixed Assets$915.0M$1.1B$1.1B$1.2B$1.3B$1.5B$1.5B$1.6B$1.6B$1.6B
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$0$0$0$0$0$0$0$0$96.0M$0
Other Assets$794.0M$985.0M$942.0M$931.0M$1.1B$1.9B$1.9B$2.0B$2.0B$2.3B
Total Liabilities$3.5B$4.1B$4.2B$4.3B$4.6B$6.0B$5.9B$6.1B$6.1B$6.6B
Current Liabilities$2.0B$2.0B$2.0B$2.3B$1.9B$2.5B$2.8B$2.7B$2.9B$2.7B
Borrowings$1.3B$1.6B$2.0B$1.9B$2.1B$3.1B$3.1B$3.2B$3.2B$3.7B
Other Liabilities$2.2B$2.5B$2.3B$2.3B$2.5B$2.9B$2.8B$2.8B$2.9B$2.8B
Equity$124.0M$124.0M$124.0M$124.0M$124.0M$124.0M$124.0M$124.0M$124.0M$124.0M
Reserves$926.0M$1.0B$955.0M$1.2B$1.5B$1.9B$2.0B$2.1B$2.3B$2.2B

For Avery Dennison Corporation, operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $712.0M; free cash flow was positive in 10 of 10 years; financing activities used $566.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$585.0M$650.0M$458.0M$747.0M$751.0M$1.0B$961.0M$826.0M$939.0M$881.0M
Investing Cash Flow$-639.0M$-769.0M$-489.0M$-508.0M$-773.0M$-2.0B$-631.0M$-744.0M$-452.0M$-765.0M
Financing Cash Flow$-196.0M$-128.0M$-442.0M$-257.0M$-124.0M$-213.0M$-405.0M$-163.0M$-269.0M$-566.0M
Net Cash Flow$36.0M$29.0M$8.0M$22.0M$-1.0M$-90.0M$5.0M$48.0M$114.0M$-126.0M
Free Cash Flow$379.0M$424.0M$201.0M$489.0M$533.0M$775.0M$663.0M$541.0M$730.0M$712.0M

Valuation & Return Ratios

MetricValue
PEG Ratio9.81
EV / EBITDA12.06
FCF Yield8.18%
Quick Ratio0.79
Interest Coverage8.08
Return 1Y8.07%
Return 3Y-2.72%
Return 5Y-10.61%

Avery Dennison Corporation (AVY) financials — frequently asked questions

What is Avery Dennison Corporation's annual revenue?

Avery Dennison Corporation (AVY) reported annual revenue of $8.9B in its most recent fiscal year.

What is Avery Dennison Corporation's net profit?

Avery Dennison Corporation (AVY) reported net profit of $688.0M in its most recent fiscal year.

What is AVY EV/EBITDA?

Avery Dennison Corporation's enterprise value to EBITDA (EV/EBITDA) ratio is 12.06.

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