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MARKETS / NYSE / Materials / Paper and pulp / AVY
NYSE · CONVERTED PAPER & PAPERBOARD PRODS (NO CONTANERS/BOXES) · LARGE CAP

Avery Dennison Corp. AVY

18 fiscal years on record · USD · FY2025 reported · SEC filings only
15 YEARS OF DIVIDEND GROWTH
$8.9B
▲ 1.1% YoY
$688.0M
▼ 2.4% YoY
$712.4M
▼ 2.4% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

The company designs and develops labeling and functional materials, radio-frequency identification (RFID) inlays and tags, software applications that connect the physical and digital, and offerings that enhance branded packaging and carry or display information. As of December 31, 2025, it operated over 200 manufacturing and distribution facilities and had locations in more than 50 countries. Its reportable segments for fiscal year 2025 were Materials Group and Solutions Group, which comprised approximately 69% and 31%, respectively, of its total net sales. Solutions Group's information solutions include item-level RFID solutions, visibility and loss prevention solutions, price ticketing and marking, care, content and country of origin compliance solutions, brand protection and security solutions, and Vestcom-brand shelf-edge productivity and media solutions. Avery Dennison Corporation 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.

Written from the business description in Avery Dennison Corp's annual report to the U.S. Securities and Exchange Commission, filed 25 February 2026. Every sentence was checked against that document before publication.

Growth

USD 8.9B
Revenue, FY2025 · full 18-year series below
Revenue $B Net income $B
FY2025 · Revenue 8.9 · Net income 0.7
4B8B
2008201120142017202020232025
Compound annual growth
−0.7%
+4.9%
+4.0%
+2.9%
−3.1%
+4.4%
−1.5%
+5.9%
+11.5%
+7.5%
+8.1%
+9.4%
+9.7%
+10.7%
+11.7%
+23.5%
+12.7%
+10.4%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +4.9% a year over the five years to FY2025 — but profit grew slower: net income at +4.4%, earnings per share at +5.9%.

The share count fell from 0.08B to 0.08B — the buyback concentrates the same profit into fewer slices.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

8 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 10.4% · Net 7.8%
5%10%-5%-10%-15%
200820162025
ROE
FY2025 · ROE 30.2%
20%40%-20%-40%
200820162025
Three returns, three denominators.
Return on capital employedNot available: we don't have a clean operating profit figure for this period.
Gross margin28.8%
Operating margin10.4%
Net margin7.8%
EBITDAUSD 1.3B

Each USD of equity produced 30 cents of profit this year.

Cash & shareholders

USD 860.7M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 712.4
300M600M
200820162025
Net buybacks $M Dividends $M
FY2025 · Dividends 288.4 · Net buybacks 572.3
400M800MDividendsNet buybacks
2008201120142017202020232025
Dividends paidUSD 288.4M
Net buybacksUSD 572.3M
Share of profit125.1%
Consecutive raises15 years

USD 288.4M in dividends and USD 572.3M in buybacks — 125% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 8.8B
EquityUSD 2.2B
CashUSD 202.8M
Gross debtUSD 3.7B
Net debtUSD 3.5B
Current ratio1.13×

Net debt stands at 157% of equity.

The 18-year record

18 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
AVY, 18-year financial record
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue $B8.98.88.49.08.47.07.17.26.66.16.06.36.15.95.85.85.26.7
Operating income $B0.91.00.71.0◌◌◌◌◌0.50.40.40.40.20.20.2−0.9◌
EBITDA $B1.31.31.01.3◌◌◌◌◌0.70.60.60.60.40.40.4−0.7◌
Income tax $B0.20.20.20.20.20.2−0.10.10.30.20.10.10.10.10.1−0.0−0.10.0
Net income $B0.70.70.50.80.70.60.30.50.30.30.30.20.20.20.20.3−0.70.3
Free cash flow $B0.70.70.60.70.80.50.50.20.50.40.30.20.20.40.30.40.50.4
EPS, diluted $8.798.736.209.218.836.613.575.283.133.542.952.562.132.081.782.97−7.212.70
Dividend / sh $3.703.453.182.932.662.362.262.011.761.601.461.341.141.081.000.801.221.64
Payout %42395132303562375544495153515628−1866
ROE %30.231.824.238.343.441.328.147.028.833.927.219.514.213.511.521.1−48.015.2
Shares out B0.080.080.080.080.080.080.080.080.090.090.090.090.100.100.110.110.11◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Compare

This company against its peers

Avery Dennison Corp.vsSmurfit Westrock PLCSame industry: Converted Paper & Paperboard Prods (No Contaners/Boxes)Avery Dennison Corp.vsInternational Paper Co.Same industry: Converted Paper & Paperboard Prods (No Contaners/Boxes)Avery Dennison Corp.vsKimberly Clark Corp.Same industry: Converted Paper & Paperboard Prods (No Contaners/Boxes)Avery Dennison Corp.vsPackaging Corp. of AmericaSame industry: Converted Paper & Paperboard Prods (No Contaners/Boxes)Avery Dennison Corp.vsGraphic Packaging Holding Co.Same industry: Converted Paper & Paperboard Prods (No Contaners/Boxes)Avery Dennison Corp.vsSonoco Products Co.Same industry: Converted Paper & Paperboard Prods (No Contaners/Boxes)Avery Dennison Corp.vsReynolds Consumer Products Inc.Same industry: Converted Paper & Paperboard Prods (No Contaners/Boxes)
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Provenance

Company facts, as filed

How we verify · 0 failures in 88 reconciliationsAUDITED

Reconciled in 18 of the 18 fiscal years we could check. Four checks were skipped: the balance sheet is not tagged before 2009. One check was skipped: EPS is not tagged before 2008. One check was skipped: revenue is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityConverted Paper & Paperboard Prods (No Contaners/Boxes)
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2008

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