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 41 d ago 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 19.1× (Sep '26).
The price-to-sales ratio has fallen from 1.5× (Mar '23) to 1.5× (Sep '26).
The dividend yield has risen from 1.8% (Mar '23) to 2.2% (Sep '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?

As of Sep '26, Avery Dennison traded at a price-to-earnings ratio of about 19.1× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.