InsiderClue
Stocks · Materials · Converted Paper & Paperboard Prods (No Contaners/Boxes)

Avery Dennison

AVY Clue Score36
United States Fiscal year ends December CIK 0000008818
$167.82 +0.12% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $167.82 −18.54% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueNet income
Fiscal year 2016Revenue6,086.5Net income320.7EPS, diluted3.54Fiscal year 2017Revenue6,613.8 +8.7%Net income281.8 −12.1%EPS, diluted3.13 −11.6%Fiscal year 2018Revenue7,159.0 +8.2%Net income467.4 +65.9%EPS, diluted5.28 +68.7%Fiscal year 2019Revenue7,070.1 −1.2%Net income303.6 −35.0%EPS, diluted3.57 −32.4%Fiscal year 2021Revenue6,971.5 −1.4%Net income555.9 +83.1%EPS, diluted6.61 +85.2%Fiscal year 2022Revenue8,408.3 +20.6%Net income740.1 +33.1%EPS, diluted8.83 +33.6%Fiscal year 2022Revenue9,039.3 +7.5%Net income757.1 +2.3%EPS, diluted9.21 +4.3%Fiscal year 2023Revenue8,364.3 −7.5%Net income503.0 −33.6%EPS, diluted6.20 −32.7%Fiscal year 2024Revenue8,755.7 +4.7%Net income704.9 +40.1%EPS, diluted8.73 +40.8%Fiscal year 2025Revenue8,855.5 +1.1%Net income688.0 −2.4%EPS, diluted8.79 +0.7%
FY2016FY2017FY2018FY2019FY2021FY2022FY2022FY2023FY2024FY2025
Revenue 6,086.5 6,613.8 7,159.0 7,070.1 6,971.5 8,408.3 9,039.3 8,364.3 8,755.7 8,855.5
Growth +8.7% +8.2% −1.2% −1.4% +20.6% +7.5% −7.5% +4.7% +1.1%
Net income 320.7 281.8 467.4 303.6 555.9 740.1 757.1 503.0 704.9 688.0
Growth −12.1% +65.9% −35.0% +83.1% +33.1% +2.3% −33.6% +40.1% −2.4%
EPS, diluted 3.54 3.13 5.28 3.57 6.61 8.83 9.21 6.20 8.73 8.79
Growth −11.6% +68.7% −32.4% +85.2% +33.6% +4.3% −32.7% +40.8% +0.7%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginNet margin
Fiscal year 2016Gross margin27.9%Net margin5.3%Free cash flow margin6.7%Fiscal year 2017Gross margin27.4%Net margin4.3%Free cash flow margin6.9%Fiscal year 2018Gross margin26.8%Net margin6.5%Free cash flow margin3.2%Fiscal year 2019Gross margin26.9%Net margin4.3%Free cash flow margin7.5%Fiscal year 2021Gross margin27.6%Net margin8.0%Free cash flow margin7.9%Fiscal year 2022Gross margin27.5%Net margin8.8%Free cash flow margin9.4%Fiscal year 2022Gross margin26.6%Net margin8.4%Free cash flow margin7.6%Fiscal year 2023Gross margin27.2%Net margin6.0%Free cash flow margin6.7%Fiscal year 2024Gross margin28.9%Net margin8.1%Free cash flow margin8.3%Fiscal year 2025Gross margin28.8%Net margin7.8%Free cash flow margin8.0%
FY2016FY2017FY2018FY2019FY2021FY2022FY2022FY2023FY2024FY2025
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%
Free cash flow margin 6.7% 6.9% 3.2% 7.5% 7.9% 9.4% 7.6% 6.7% 8.3% 8.0%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow582.1Capital expenditure−176.9Free cash flow405.2Buybacks−262.4Dividends paid−142.5Fiscal year 2017Operating cash flow645.7Capital expenditure−190.5Free cash flow455.2 +12.3%Buybacks−129.7Dividends paid−155.5Fiscal year 2018Operating cash flow457.9Capital expenditure−226.7Free cash flow231.2 −49.2%Buybacks−392.9Dividends paid−175.0Fiscal year 2019Operating cash flow746.5Capital expenditure−219.4Free cash flow527.1 +128.0%Buybacks−237.7Dividends paid−189.7Fiscal year 2021Operating cash flow751.3Capital expenditure−201.4Free cash flow549.9 +4.3%Buybacks−104.3Dividends paid−196.8Fiscal year 2022Operating cash flow1,046.8Capital expenditure−255.0Free cash flow791.8 +44.0%Buybacks−180.9Dividends paid−220.6Fiscal year 2022Operating cash flow961.0Capital expenditure−278.1Free cash flow682.9 −13.8%Buybacks−379.5Dividends paid−238.9Fiscal year 2023Operating cash flow826.0Capital expenditure−265.3Free cash flow560.7 −17.9%Buybacks−137.5Dividends paid−256.7Fiscal year 2024Operating cash flow938.8Capital expenditure−208.8Free cash flow730.0 +30.2%Buybacks−247.5Dividends paid−277.5Fiscal year 2025Operating cash flow881.4Capital expenditure−169.0Free cash flow712.4 −2.4%Buybacks−572.3Dividends paid−288.4
FY2016FY2017FY2018FY2019FY2021FY2022FY2022FY2023FY2024FY2025
Operating cash flow 582.1 645.7 457.9 746.5 751.3 1,046.8 961.0 826.0 938.8 881.4
Capital expenditure −176.9 −190.5 −226.7 −219.4 −201.4 −255.0 −278.1 −265.3 −208.8 −169.0
Free cash flow 405.2 455.2 231.2 527.1 549.9 791.8 682.9 560.7 730.0 712.4
Growth +12.3% −49.2% +128.0% +4.3% +44.0% −13.8% −17.9% +30.2% −2.4%
Buybacks −262.4 −129.7 −392.9 −237.7 −104.3 −180.9 −379.5 −137.5 −247.5 −572.3
Dividends paid −142.5 −155.5 −175.0 −189.7 −196.8 −220.6 −238.9 −256.7 −277.5 −288.4

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash195.1Total debt250.0Net cash (debt)−54.9Shareholders’ equity925.5Debt to equity0.27Fiscal year 2017Cash224.4Shareholders’ equity1,032.4Fiscal year 2018Cash232.0Total debt1,750.9Net cash (debt)−1,518.9Shareholders’ equity955.1Debt to equity1.83Fiscal year 2019Cash253.7Total debt1,475.3Net cash (debt)−1,221.6Shareholders’ equity1,204.0Debt to equity1.23Fiscal year 2021Cash252.3Total debt2,029.2Net cash (debt)−1,776.9Shareholders’ equity1,484.9Debt to equity1.37Fiscal year 2022Cash162.7Total debt2,774.2Net cash (debt)−2,611.5Shareholders’ equity1,924.4Debt to equity1.44Fiscal year 2022Cash167.2Total debt2,495.4Net cash (debt)−2,328.2Shareholders’ equity2,032.2Debt to equity1.23Fiscal year 2023Cash215.0Total debt2,615.0Net cash (debt)−2,400.0Shareholders’ equity2,127.9Debt to equity1.23Fiscal year 2024Cash329.1Total debt2,550.8Net cash (debt)−2,221.7Shareholders’ equity2,312.3Debt to equity1.10Fiscal year 2025Cash202.8Total debt3,199.0Net cash (debt)−2,996.2Shareholders’ equity2,242.1Debt to equity1.43
FY2016FY2017FY2018FY2019FY2021FY2022FY2022FY2023FY2024FY2025
Cash 195.1 224.4 232.0 253.7 252.3 162.7 167.2 215.0 329.1 202.8
Total debt 250.0 n/a 1,750.9 1,475.3 2,029.2 2,774.2 2,495.4 2,615.0 2,550.8 3,199.0
Net cash (debt) −54.9 n/a −1,518.9 −1,221.6 −1,776.9 −2,611.5 −2,328.2 −2,400.0 −2,221.7 −2,996.2
Shareholders’ equity 925.5 1,032.4 955.1 1,204.0 1,484.9 1,924.4 2,032.2 2,127.9 2,312.3 2,242.1
Debt to equity 0.27 n/a 1.83 1.23 1.37 1.44 1.23 1.23 1.10 1.43

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 30 Dec 2017 FY2018 29 Dec 2018 FY2019 28 Dec 2019 FY2021 2 Jan 2021 FY2022 1 Jan 2022 FY2022 31 Dec 2022 FY2023 30 Dec 2023 FY2024 28 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
6,086.5 6,613.8 7,159.0 7,070.1 6,971.5 8,408.3 9,039.3 8,364.3 8,755.7 8,855.5
Growth +8.7% +8.2% −1.2% −1.4% +20.6% +7.5% −7.5% +4.7% +1.1%
4,386.8 4,801.6 5,243.5 5,166.0 5,048.2 6,095.5 6,635.1 6,086.8 6,225.0 6,309.2
1,699.7 1,812.2 1,915.5 1,904.1 1,923.3 2,312.8 2,404.2 2,277.5 2,530.7 2,546.3
Growth +6.6% +5.7% −0.6% +1.0% +20.3% +4.0% −5.3% +11.1% +0.6%
89.7 93.4 98.2 92.6 112.8 136.6 136.1 135.8 137.8 136.6
1,085.7 1,105.2 1,127.5 1,080.4 1,060.5 1,248.5 1,330.8 1,313.7 1,415.3 1,422.5
477.1 589.5 554.8 249.5 737.3 992.6 999.3 694.7 953.5 925.1
156.4 307.7 85.4 −56.7 177.7 248.6 242.2 191.7 248.6 237.1
320.7 281.8 467.4 303.6 555.9 740.1 757.1 503.0 704.9 688.0
Growth −12.1% +65.9% −35.0% +83.1% +33.1% +2.3% −33.6% +40.1% −2.4%
Per share
3.60 3.19 5.35 3.61 6.67 8.93 9.28 6.23 8.77 8.81
3.54 3.13 5.28 3.57 6.61 8.83 9.21 6.20 8.73 8.79
Growth −11.6% +68.7% −32.4% +85.2% +33.6% +4.3% −32.7% +40.8% +0.7%
89.1 88.3 87.3 84.0 83.4 82.9 81.6 80.7 80.4 78.1
90.7 90.1 88.6 85.0 84.1 83.8 82.2 81.1 80.7 78.3
Growth −0.7% −1.7% −4.1% −1.1% −0.4% −1.9% −1.3% −0.5% −3.0%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 4.9% a year over five years, and earnings per share grew 5.9% a year.
  • The diluted share count fell 6.9% in five years, so buybacks did some of the work per share.
  • Gross margin is up 1.2 points on five years ago, at 28.8%.
  • Profitable in every one of the 10 years on file.