AVY Financials Avery Dennison

14 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Aug 9, 2026, 10:16 UTC Overview →

Growth & profitability

Revenue has grown 6.2% per year over the past 5 years.
Net income has grown slower than revenue (5.5% vs 6.2% per year).
Free cash flow has grown 6.7% per year over the past 5 years.

Financial health

Total debt ($3.2B) exceeds cash ($203M); net debt is $3.0B.
Total debt has grown faster than revenue (12.1% vs 6.2% per year).

Shareholder returns

Dividends have been paid for 14 consecutive years, consuming 41.9% of earnings and 40.5% of free cash flow.
The dividend has grown 10.0% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$8.9B	$688M	28.8%	0.0%	30.7%	7.8%	$712M	$3.2B	$203M
2024	$8.8B	$705M	28.9%	0.0%	30.5%	8.4%	$730M	$2.6B	$329M
2023	$8.4B	$503M	27.2%	0.0%	23.6%	6.1%	$561M	$2.6B	$215M
2022	$9.0B	$757M	26.6%	0.0%	37.3%	9.5%	$683M	$2.5B	$167M
2022	$8.4B	$740M	27.5%	0.0%	38.5%	9.3%	$792M	$2.8B	$163M
2021	$7.0B	$556M	27.6%	0.0%	37.4%	9.1%	$550M	$2.0B	$252M
2019	$7.1B	$304M	26.9%	0.0%	25.2%	5.5%	$527M	$1.5B	$254M
2018	$7.2B	$467M	26.8%	0.0%	48.9%	9.0%	$231M	$1.8B	$232M
2017	$6.6B	$282M	27.4%	0.0%	27.3%	5.5%	$455M	—	$224M
2016	$6.1B	$321M	27.9%	0.0%	34.7%	7.3%	$405M	—	$195M
2011	—	$190M	—	—	11.5%	3.8%	$313M	$956M	$178M
2011	—	$317M	—	—	19.3%	6.2%	$403M	$957M	$128M
2010	—	-$747M	—	—	-54.8%	-14.9%	$499M	—	$138M
2008	—	$266M	—	—	15.2%	—	$421M	—	$106M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jun '26	$2.5B	$204M	29.6%	0.0%	8.8%	2.2%	$369M	—	$227M
Mar '26	$2.3B	$168M	28.9%	0.0%	7.3%	1.9%	$108M	—	$255M
Dec '25	$2.3B	$166M	28.7%	0.0%	7.4%	1.9%	$310M	$3.2B	$203M
Sep '25	$2.2B	$166M	28.7%	0.0%	7.5%	1.9%	$276M	—	$536M
Jun '25	$2.2B	$189M	28.8%	0.0%	8.6%	2.2%	$179M	—	$216M
Mar '25	$2.1B	$166M	28.9%	0.0%	7.7%	2.0%	-$52M	—	$196M
Dec '24	$2.2B	$174M	27.9%	0.0%	7.5%	2.1%	$282M	$2.6B	$329M
Sep '24	$2.2B	$182M	28.7%	0.0%	7.6%	2.1%	$227M	—	$213M
Jun '24	$2.2B	$177M	29.6%	0.0%	7.7%	2.1%	$150M	—	$209M
Mar '24	$2.2B	$172M	29.4%	0.0%	7.8%	2.1%	$71M	—	$186M
Dec '23	$2.1B	$143M	28.2%	0.0%	6.7%	1.7%	$220M	$2.6B	$215M
Sep '23	$2.1B	$138M	27.9%	0.0%	6.7%	1.7%	$266M	—	$210M
Jul '23	$2.1B	$100M	26.5%	0.0%	5.0%	1.2%	$138M	—	$217M
Apr '23	$2.1B	$121M	26.3%	0.0%	5.9%	1.5%	-$63M	—	$351M
Dec '22	$2.0B	$123M	24.7%	0.0%	6.0%	1.5%	$251M	$2.5B	$167M
Oct '22	$2.3B	$222M	26.7%	0.0%	11.0%	2.8%	$144M	—	$128M
Jul '22	$2.3B	$215M	27.4%	0.0%	11.1%	2.7%	$211M	—	$165M
Apr '22	$2.3B	$198M	27.3%	0.0%	10.3%	2.4%	$77M	—	$147M
Jan '22	$2.2B	$183M	26.8%	0.0%	9.5%	2.3%	$160M	$2.8B	$163M
Oct '21	$2.1B	$164M	26.8%	0.0%	9.1%	2.1%	$239M	—	$207M

Valuation over time

How the market has priced AVY against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 17.9× (Mar '23) to 20.6× (Nov '26).
The price-to-sales ratio has risen from 1.5× (Mar '23) to 1.6× (Nov '26).
The dividend yield has risen from 1.8% (Mar '23) to 2.0% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is AVY growing its revenue and profit?

Over the past 5 years, Avery Dennison's revenue has grown 6.2% per year, and net income grown 5.5% per year. These are computed facts, not advice.

How much debt does AVY have?

As of FY2025, Avery Dennison reported $3.2B of total debt against $203M of cash.

What is AVY's profit margin?

In FY2025, gross margin was 28.8%, operating margin —, and net margin 7.8%.

What is AVY's P/E ratio?

Avery Dennison's P/E (TTM) is 20.10 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the AVY stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 20.6× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.