Avery Dennison

Materials Paper & Plastic Packaging Products & Materials Mentor, Ohio Last filing Feb 25, 2026 · FY2025

                    Revenue
                    FY2025
                
$8.9B
                    3y CAGR -0.7%
                    
                    P46
                    
                    +1.1%
                    
                    Net income
                    FY2025
                
$688.0M
                    Net margin +7.8%
                    
                    P62
                    
                    -2.4%
                    
                    Total assets
                    FY2025
                
$8.8B
                    ROA +7.8%
                    
                    P81
                    
                    +4.7%
                    
                    Operating cash flow
                    FY2025
                
$881.4M
                    FCF margin +8.0%
                    
                    P64
                    
                    -6.1%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Year-over-year change per cell; first column has no prior.

Balance Sheet

Assets, liabilities, and equity

29 accounts · 3 years

Total assets $8.8B

Total liabilities $2.7B

Shareholders equity $2.2B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	-38.4%	+53.1%	—
Accounts Receivable	+2.6%	+3.6%	—
Inventory	—	—	—
Prepaid Expenses	—	—	—
Other Current Assets	+0.8%	+24.4%	—
Total Current Assets	-2.9%	+10.1%	—
Property,Plant and Equipment	—	—	—
Goodwill	+15.0%	-1.9%	—
Intangible Assets	—	—	—
Deferred Tax Assets	-61.7%	+1.2%	—
Other Noncurrent Assets	+9.0%	+10.8%	—
Total Assets	+4.7%	+2.4%	—
Liabilities
Accounts Payable	-5.9%	+5.0%	—
Accrued Liabilities	+67.8%	-37.2%	—
Current Portion of Long Term Debt	-5.1%	+83.9%	—
Other Current Liabilities	—	—	—
Total Current Liabilities	-7.3%	+6.0%	—
Long Term Debt	+25.4%	-2.4%	—
Deferred Tax Liabilities	-105.3%	-2.8%	—
Other Noncurrent Liabilities	+284.2%	+12.2%	—
Total Liabilities	—	—	—
Equity
Preferred Stock	-100.0%	+0.0%	—
Common Stock	+0.0%	+0.0%	—
Additional Paid In Capital	-0.7%	-1.6%	—
Retained Earnings	+8.7%	+9.8%	—
Treasury Stock	+16.6%	+6.8%	—
Accumulated Other Comprehensive Income	+10.2%	-11.8%	—
Total Stockholders Equity	-3.0%	+8.7%	—
Total Liabilitiesand Equity	—	—	—

Income Statement

Revenue, expense, and profitability

19 accounts · 3 years

Revenue $8.9B

Operating income $925.1M

Net income $688.0M

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	—	—	—
Expenses Cost of Revenue	—	—	—
Expenses Research and Development	—	—	—
Expenses Selling,General and Administrative	—	—	—
Expenses Depreciation and Amortization	—	—	—
Expenses Share Based Compensation	—	—	—
Expenses Restructuring and Asset Impairment	—	—	—
Other Income Expense Gross Profit	—	—	—
Other Income Expense Operating Income	—	—	—
Other Income Expense Interest Expense	—	—	—
Other Income Expense Other Income/expense	—	—	—
Other Income Expense Income Before Tax	—	—	—
Income Tax Income Tax Expense	—	—	—
net Income net Income	—	—	—
net Income Comprehensive Income	—	—	—
Earnings Per Share Basic Eps	—	—	—
Earnings Per Share Diluted Eps	—	—	—
Earnings Per Share Weighted Average Shares Basic	-2.9%	-0.4%	—
Earnings Per Share Weighted Average Shares Diluted	-3.0%	-0.5%	—

Cash Flow Statement

Operating, investing, and financing flows

22 accounts · 3 years

Operating cash flow $881.4M

Investing cash flow $-596.0M

Financing cash flow $-414.9M

Account	2025	2024	2023
CashFlow
Operating Activities net Income	-2.4%	+40.1%	—
Operating Activities Depreciation and Amortization	+5.1%	+4.6%	—
Operating Activities Stock Based Compensation	-2.8%	+28.7%	—
Operating Activities Deferred Income Taxes	-94.6%	+37.4%	—
Operating Activities Changes In Operating Assets and Liabilities	-197.1%	+181.0%	—
Operating Activities Other Non Cash Items	—	—	—
Operating Activities net Cash From Operating Activities	-6.1%	+13.7%	—
Investing Activities Capital Expenditures	-19.1%	-21.3%	—
Investing Activities Purchases of Investments	—	—	—
Investing Activities Proceeds From Sale of Investments	—	—	—
Investing Activities Other Investing Activities	—	—	—
Investing Activities net Cash From Investing Activities	-145.2%	+47.0%	—
Financing Activities Repayment of Debt	+81.6%	+20.4%	—
Financing Activities Repurchase of Common Stock	—	—	—
Financing Activities Dividends Paid	+3.9%	+8.1%	—
Financing Activities Tax Withholding On Stock Based Compensation	—	—	—
Financing Activities Other Financing Activities	+93.8%	-200.0%	—
Financing Activities net Cash From Financing Activities	+28.0%	-81.6%	—
Cash Reconciliation Effect of Exchange Rate On Cash	+158.2%	-175.0%	—
Cash Reconciliation net Change In Cash	-210.7%	+138.7%	—
Cash Reconciliation Cash At Beginning of Period	—	—	—
Cash Reconciliation Cash At End of Period	—	—	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+28.8%	+28.9%	+27.2%
Operating margin	+10.4%	—	—
Net margin	+7.8%	+8.1%	+6.0%
FCF margin	+8.0%	+8.3%	+6.7%
Growth
Revenue CAGR (3y)	-0.7%	+1.4%	+6.3%
Returns
ROE	+30.7%	+30.5%	+23.6%
ROA	+7.8%	+8.4%	+6.1%
ROIC	+11.9%	—	—
Liquidity
Current ratio	1.13x	1.08x	1.04x
Quick ratio	0.64x	0.63x	0.60x
Leverage
D/E	1.18x	2.63x	2.86x
Interest coverage	6.83x	—	—
Efficiency
Asset turnover	1.01x	1.04x	1.02x
Cash conversion cycle	+45d	+40d	+40d

Valuation

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Avery Dennison

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