Avery Dennison (AVY)

Materials · $14.2B market cap · SEC CIK 0000008818

Next reports on Feb 2, 2027, after the close, with analysts expecting $2.43 in earnings per share.

52-week range $152.42 to $199.54. 5% below its 52-week high and 24% above its low.

The case for AVY

• Earns 31% back on shareholder equity.
• Moves less than the market (beta 0.77).
• Pays a modest 1.7% dividend.

The case against

• Growth is weak (41/100): revenue +6.8%, +4.9% a year over five years.
• Long-term debt of $3.2B against $203M of cash.

What the score is made of

Each factor is half a curve over reported figures and half a rank among the other Materials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. The score is where that blend places it in the S&P 500. It describes the last filing and the current price. It is not a forecast.

• Its profits follow commodity prices, so its earnings and margin are read as half the latest year and half the average of the years on file (5), and last year's change in earnings per share is not counted as growth.
• Each factor except momentum is half fixed thresholds, half rank among the 26 Materials companies.

The financials

The financials, five years deep

Pulled from Avery Dennison's XBRL filings on SEC EDGAR. Italic rows are worked out from the others.

What Avery Dennison says it does

Company Background Avery Dennison Corporation (“Avery Dennison” or the “Company” and generally referred to as “we” or “us”) 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. In 1990, we merged one of our subsidiaries into Dennison Manufacturing Company (“Dennison”), as a result of which Dennison became our wholly-owned subsidiary and in connection with which we changed our name to Avery Dennison Corporation. You can learn more about us by visiting our website at www.averydennison.com. Our website is not intended to function as a hyperlink and the information on our website is not, nor should it be considered, part of this report or incorporated by reference into this report. Business Overview and Reportable Segments We are a global leader in materials science and digital identification solutions. We…

Risk factors AVY lists in its 10-K

• Foreign currency exchange rates, and fluctuations in those rates, affect our business
• Our operations and activities outside of the U.S. subject us to risks different from and potentially greater than those associated with our domestic operations
• Our strategy includes continuing to grow in emerging markets, which exposes us to less stable geopolitical conditions, civil unrest, economic volatility, and other risks applicable to operating in these regions
• We have recently acquired companies and are likely to acquire other companies. Acquisitions come with significant risks and uncertainties, including those related to integration, technology and employees
• A significant consolidation of our customer base could negatively impact our business
• Because some of our products are sold by third parties, our business depends in part on the financial condition of these parties and their customers
• Our ability to develop and successfully market new products and applications impacts our competitive position
• Our infrastructure needs impact our business and expenditures
• Difficulty in the collection of receivables as a result of economic conditions or other market factors could have a material adverse effect on our business
• There is a rapidly evolving awareness and focus from certain stakeholders, including our investors, customers and employees, with respect to our company’s sustainability and governance practices, which could affect our business
• Significant disruption to the information technology infrastructure that stores our information and runs our operations could materially adversely affect our business
• Cybersecurity or other security breaches could compromise our information and expose us to liability, which could have a material adverse effect on our business and reputation
• Changes in our tax rates affect our business
• Legislation implementing changes in taxation of business activities, adoption of other corporate tax policies, or other changes in tax legislation impact our business
• The amount of income taxes we pay is subject to ongoing compliance requirements and audits by federal, state and foreign tax authorities
• We have deferred tax assets that we may not be able to realize under certain circumstances
• We have various non-U.S. collective labor arrangements, which make us subject to potential work stoppages, as well as union and works council campaigns and other labor disputes, any of which could adversely impact our business
• If our indebtedness increases significantly or our credit ratings are downgraded, we may have difficulty obtaining short- and long-term financing on acceptable terms and conditions
• An increase in interest rates adversely affects our business
• Our current and future debt covenants may limit our flexibility
• Our stock price is subject to significant variability
• Infringing intellectual property rights of third parties or inadequately acquiring or protecting our intellectual property could harm our ability to compete or grow
• Unfavorable developments in legal proceedings, investigations and other legal and regulatory matters, could impact us in a materially adverse manner
• We are required to comply with environmental, health, and safety laws at our operations around the world. The costs of complying with these laws is significant and increasing
• We are subject to export and import control laws and regulations in the jurisdictions in which we do business that could subject us to liability or impair our ability to compete in these markets
• Our pension assets and liabilities are significant and subject to market, interest and credit risk that may reduce their asset values or increase their liability values, either of which could increase our net pension liability

Filings

Other Materials companies