Tearsheet

Avery Dennison (AVY)

Market Price (10/21/2025): $160.25 | Market Cap: $12.5 Bil
Sector: Materials | Industry: Paper & Plastic Packaging Products & Materials

Avery Dennison (AVY)

Market Price (10/21/2025): $160.25
Market Cap: $12.5 Bil
Sector: Materials
Industry: Paper & Plastic Packaging Products & Materials

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.9%, Dividend Yield is 2.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.4%	Weak multi-year price returns 2Y Excs Rtn is -63%, 3Y Excs Rtn is -82%	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.8%, Rev Chg QQuarterly Revenue Change % is -0.7%
1	Low stock price volatility Vol 12M is 22%

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.9%, Dividend Yield is 2.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.4%
1	Low stock price volatility Vol 12M is 22%
2	Weak multi-year price returns 2Y Excs Rtn is -63%, 3Y Excs Rtn is -82%
3	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.8%, Rev Chg QQuarterly Revenue Change % is -0.7%

Market Valuation & Key Metrics

Valuation
Key Metrics

	10/21/25	2024	2023	2022	2021
Share Price CYE	$160.25	$184.22	$195.87	$172.33	$202.89
Market Cap CYE ($ Bil)	12.5	14.8	15.8	14.0	16.8
Total Debt ($ Bil)	3.6	3.2	3.2	3.1	3.1
Total Cash ($ Bil)	0.2	0.3	0.2	0.2	0.2
Enterprise Value ($ Bil)	15.9	18.0	19.0	17.1	19.9
Valuation Ratios
P/S TTM	1.4	1.7	1.9	1.6	2.1
P/EBIT TTM	11.5	14.1	20.1	13.6	16.9
P/E TTM	17.6	21.3	32.4	19.5	24.3
Sector Ratios
P/S TTM (Sector)	1.6	1.2	1.3	1.1	1.5
P/EBIT TTM (Sector)	6.8	6.3	6.6	4.8	5.7
P/E TTM (Sector)	4.7	5.5	7.5	4.6	7.1

	10/21/25	2024	2023
Share Price CYE	$160.25	$184.22	$195.87
Market Cap CYE ($ Bil)	12.5	14.8	15.8
Total Debt ($ Bil)	3.6	3.2	3.2
Total Cash ($ Bil)	0.2	0.3	0.2
Enterprise Value ($ Bil)	15.9	18.0	19.0
Valuation Ratios
P/S TTM	1.4	1.7	1.9
P/EBIT TTM	11.5	14.1	20.1
P/E TTM	17.6	21.3	32.4
Sector Ratios
P/S TTM (Sector)	1.6	1.2	1.3
P/EBIT TTM (Sector)	6.8	6.3	6.6
P/E TTM (Sector)	4.7	5.5	7.5

	AVY	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	8.7
Rev Chg Q	-0.7%	6.1%
Rev Chg LTM	1.7%	5.2%
Rev Chg 3Y Avg	-0.8%	5.4%
PROFITABILITY	POOR
Op Inc LTM ($ Bil)	1.1
Op Mgn LTM	12.8%	18.6%
CFO LTM ($ Bil)	0.8
CFO/Rev LTM	9.3%	20.4%
Net Inc LTM ($ Bil)	0.7
Net Inc Mgn	8.1%	12.7%
VALUATION	MODERATE
P/S	1.4	3.2
P/CFO	15.4	15.9
P/FCF	20.8	20.7
P/E	17.6	24.0
STABILITY	FAIR
Debt/Equity	0.28	0.22
Cash/Assets	0.03	0.07

AVY Stock

Return (1M):

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
AVY Return	21%	41%	-15%	14%	-6%	-13%	34%
Peers Return	21%	36%	-10%	-9%	31%	19%	111%
S&P 500 Return	16%	27%	-19%	24%	23%	15%	106%
Monthly Win Rates [3]
AVY Win Rate	75%	67%	33%	50%	33%	33%
Peers Win Rate	58%	58%	48%	48%	58%	53%
S&P 500 Win Rate	58%	75%	42%	67%	75%	67%
Max Drawdowns [4]
AVY Max Drawdown	-40%	-4%	-29%	-12%	-6%	-15%
Peers Max Drawdown	-41%	-5%	-33%	-30%	-11%	-21%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: JNJ, MMM, PI, SEE, IP. See AVY Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/20/2025 (YTD)

Downturns Compared

Unique Key	Event	AVY	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-32.6%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	48.3%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	693 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-43.8%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	77.9%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	212 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-31.7%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	46.4%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	303 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-75.2%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	303.7%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	2559 days	1480 days

How Low Can It Go?

Avery Dennison's stock fell -32.6% during the 2022 Inflation Shock from a high on 9/2/2021. A -32.6% loss requires a 48.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Better Bets than Avery Dennison (AVY)

	AVY	Better Performance than AVY
Metric	Value	Industry (Paper & Plastic Packaging Prod)
Rev Chg LTM	1.7%	IP (18.1%), SW (163.8%), PKG (9.0%), AMCR (10.0%), CCK (2.2%)
Rev Chg 3Y Avg	-0.8%	IP (2.7%), SW (65.7%), PKG (1.0%), AMCR (1.3%), GPK (1.5%)
Op Mgn LTM	12.8%	PKG (14.9%), CCK (13.6%), SEE (14.9%)
CFO/Rev LTM	9.3%	PKG (14.9%), CCK (10.9%), SEE (11.0%), SON (9.6%)
FCF/Rev LTM	6.9%	PKG (7.2%), CCK (8.3%), SEE (7.2%)
Total Yield	7.9%	AMCR (8.2%), GPK (12.6%), SON (19.0%)

	AVY	Better Performance than AVY
Metric	Value	Sector (Materials)
Rev Chg LTM	1.7%	SCCO (23.2%), NEM (38.4%), AEM (28.5%), FCX (4.6%), B (16.9%)
Rev Chg 3Y Avg	-0.8%	LIN (0.6%), SCCO (3.3%), NEM (20.6%), AEM (28.4%), SHW (3.7%)
Op Mgn LTM	12.8%	LIN (26.9%), SCCO (49.4%), NEM (39.1%), AEM (41.8%), SHW (15.8%)
CFO/Rev LTM	9.3%	LIN (29.8%), SCCO (37.5%), NEM (41.7%), AEM (47.3%), SHW (13.3%)
FCF/Rev LTM	6.9%	LIN (15.2%), SCCO (28.0%), NEM (25.9%), AEM (26.1%), SHW (9.3%)
Total Yield	7.9%	VALE (10.7%), MT (8.5%), NTR (8.7%), AMCR (8.2%), LYB (13.7%)

	AVY	Better Performance than AVY
Metric	Value	All Other Sectors
Rev Chg LTM	1.7%	NVDA (71.6%), AAPL (6.0%), MSFT (14.9%), GOOGL (13.1%), AMZN (10.9%)
Rev Chg 3Y Avg	-0.8%	NVDA (92.0%), AAPL (1.8%), MSFT (12.5%), GOOGL (10.2%), AMZN (11.3%)
Op Mgn LTM	12.8%	NVDA (58.1%), AAPL (31.9%), MSFT (45.6%), GOOGL (32.7%), META (42.9%)
CFO/Rev LTM	9.3%	NVDA (46.6%), AAPL (26.6%), MSFT (48.3%), GOOGL (36.0%), AMZN (18.1%)
FCF/Rev LTM	6.9%	NVDA (43.6%), AAPL (23.5%), MSFT (25.4%), GOOGL (18.0%), META (30.7%)
Total Yield	7.9%	XOM (9.9%), BABA (36.3%), UNH (8.8%), WFC (9.3%), CVX (9.6%)

		Best Bets In Materials Sector
	AVY	USLM	SCCO	CF	EXP	BCPC	NEU	ESI	NEM	REYN	CBT
What You Pay
P/E	17.6	30.9	29.8	10.5	17.1	34.2	14.8	26.2	16.8	16.0	8.9
P/EBIT	11.5	26.8	17.7	6.7	12.5	24.6	10.7	16.6	11.7	9.5	5.7
What You Get
Rev Chg Q	-0.7%	19.6%	20.1%	20.2%	4.3%	9.1%	0.6%	2.0%	20.8%	0.9%	-9.2%
Rev Chg LTM	1.7%	22.0%	23.2%	9.5%	0.9%	5.7%	3.7%	5.4%	38.4%	-0.5%	-3.6%
Rev Chg 3Y Avg	-0.8%	19.1%	3.3%	-12.4%	5.6%	4.1%	4.7%	-1.5%	20.6%	0.0%	-2.5%
FCF/Rev 3Y Avg	6.7%	24.7%	23.7%	21.3%	17.5%	14.6%	14.0%	11.7%	11.0%	9.1%	8.9%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 11%, alpha of 1.8%, and sharpe of 0.46

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	Avery Dennison Earnings Notes
2	How Low Can Avery Dennison Stock Really Go?	Return
3	Avery Dennison vs Merck: Which Is A Better Investment?	Counter-Intuitive Comparisons
4	Avery Dennison vs Newmont: Which Is A Better Investment?	Counter-Intuitive Comparisons
5	How Does Avery Dennison Stock Stack Up Against Its Peers?
6	Better Bet Than AVY Stock: Pay Less Than Avery Dennison To Get More From MRK, DUK
7	Better Bet Than AVY Stock: Pay Less Than Avery Dennison To Get More From AA, NEU
8	Day 7 of Loss Streak for Avery Dennison Stock with -7.7% Return (vs. -9.4% YTD) [7/31/2025]	Notification
9	AVY Dip Buy Analysis
10	Avery Dennison Total Shareholder Return (TSR): -3.1% in 2024 and -1.2% 3-yr compounded annual returns (below peer average)
11	ARTICLES
12	AVY Stock Down -7.7% after 7-Day Loss Streak		August 1st, 2025
13	While S&P Stays Flat, Avery Dennison Jumps 10% – Time To Buy?		September 16th, 2020
14	Avery Dennison Stock Looks Attractive At $116		September 11th, 2020
15	Avery Dennison Stock Could See Higher Levels		September 1st, 2020

	Title
0	DASHBOARDS
1	AVY Stock Down -7.7% after 7-Day Loss Streak
2	While S&P Stays Flat, Avery Dennison Jumps 10% – Time To Buy?
3	Avery Dennison Stock Looks Attractive At $116
4	Avery Dennison Stock Could See Higher Levels
5	ARTICLES
6	Avery Dennison Earnings Notes
7	How Low Can Avery Dennison Stock Really Go?
8	Avery Dennison vs Merck: Which Is A Better Investment?
9	Avery Dennison vs Newmont: Which Is A Better Investment?
10	How Does Avery Dennison Stock Stack Up Against Its Peers?
11	Better Bet Than AVY Stock: Pay Less Than Avery Dennison To Get More From MRK, DUK
12	Better Bet Than AVY Stock: Pay Less Than Avery Dennison To Get More From AA, NEU
13	Day 7 of Loss Streak for Avery Dennison Stock with -7.7% Return (vs. -9.4% YTD) [7/31/2025]
14	AVY Dip Buy Analysis
15	Avery Dennison Total Shareholder Return (TSR): -3.1% in 2024 and -1.2% 3-yr compounded annual returns (below peer average)

Trade Ideas

Select past ideas related to AVY. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
AXTA_9302025_Dip_Buyer_FCFYield	09302025	AXTA	Axalta Coating Systems	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-0.6%	-0.6%	-7.8%
GPK_9302025_Dip_Buyer_ValueBuy	09302025	GPK	Graphic Packaging	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-12.3%	-12.3%	-12.3%
FCX_9302025_Monopoly_xInd_xCD_Getting_Cheaper	09302025	FCX	Freeport-McMoRan	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	5.4%	5.4%	-0.9%
KWR_7312025_Dip_Buyer_FCFYield	07312025	KWR	Quaker Houghton	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	14.5%	14.5%	0.0%
TGLS_6302025_Quality_Momentum_RoomToRun_10%	06302025	TGLS	Tecnoglass	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	-18.9%	-18.9%	-19.6%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
AXTA_9302025_Dip_Buyer_FCFYield	09302025	AXTA	Axalta Coating Systems	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-0.6%	-0.6%	-7.8%
GPK_9302025_Dip_Buyer_ValueBuy	09302025	GPK	Graphic Packaging	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-12.3%	-12.3%	-12.3%
FCX_9302025_Monopoly_xInd_xCD_Getting_Cheaper	09302025	FCX	Freeport-McMoRan	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	5.4%	5.4%	-0.9%
KWR_7312025_Dip_Buyer_FCFYield	07312025	KWR	Quaker Houghton	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	14.5%	14.5%	0.0%
TGLS_6302025_Quality_Momentum_RoomToRun_10%	06302025	TGLS	Tecnoglass	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	-18.9%	-18.9%	-19.6%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	CELC	Celcuity	35.8%	439.2%
2	BETR	Better Home & Finance	28.5%	812.4%
3	KOD	Kodiak Sciences	25.5%	77.9%
4	CLF	Cleveland-Cliffs	21.5%	72.1%
5	UAMY	United States Antimony	20.0%	658.8%
6	CRMD	Cormedix	19.4%	50.1%
7	PMI	Picard Medical	19.2%	18312.7%
8	BEAM	Beam Therapeutics	17.9%	23.5%
9	GRAL	GRAIL	17.8%	414.6%
10	NUTX	Nutex Health	17.0%	250.3%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	OLMA	Olema Pharmaceuticals	-17.0%	33.3%
2	VSTM	Verastem	-13.0%	55.1%
3	EXEL	Exelixis	-12.0%	3.7%
4	BCAX	Bicara Therapeutics	-10.9%	-6.7%
5	QBTS	D-Wave Quantum	-10.3%	309.5%
6	GKOS	Glaukos	-8.8%	-47.0%
7	PRAX	Praxis Precision Medicines	-7.9%	127.5%
8	CBRL	Cracker Barrel Old Country Store	-7.5%	-29.2%
9	CRWV	CoreWeave	-7.2%
10	ELF	e.l.f. Beauty	-6.9%	1.5%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	PRAX	Praxis Precision Medicines	234.5%	127.5%
2	NVTS	Navitas Semiconductor	71.5%	379.0%
3	BETR	Better Home & Finance	60.2%	812.4%
4	KOD	Kodiak Sciences	52.6%	77.9%
5	CELC	Celcuity	48.9%	439.2%
6	SSII	SS Innovations International	47.6%	26.5%
7	CCO	Clear Channel Outdoor	44.6%	37.2%
8	GRAL	GRAIL	30.4%	414.6%
9	LBRT	Liberty Energy	28.9%	-18.7%
10	SANA	Sana Biotechnology	28.0%	241.1%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	SOC	Sable Offshore	-31.3%	-44.1%
2	ONDS	Ondas	-28.1%	203.5%
3	OLMA	Olema Pharmaceuticals	-27.7%	33.3%
4	IONQ	IonQ	-27.0%	43.5%
5	AIV	Apartment Investment & Management	-26.6%	-7.0%
6	RCAT	Red Cat	-24.8%	-10.0%
7	MNPR	Monopar Therapeutics	-24.4%	250.7%
8	LAR	Lithium Argentina	-23.1%
9	ASPI	ASP Isotopes	-23.0%	126.5%
10	ALAB	Astera Labs	-21.7%	18.0%

1 Month Top Gainers

#	Ticker	Company	1M Rtn	YTD Rtn
1	WOLF	Wolfspeed	1245.3%	350.5%
2	QURE	uniQure	360.9%	261.9%
3	PRAX	Praxis Precision Medicines	314.7%	127.5%
4	NVTS	Navitas Semiconductor	143.9%	379.0%
5	CLPT	ClearPoint Neuro	143.9%	77.6%
6	BETR	Better Home & Finance	138.8%	812.4%
7	GRAL	GRAIL	120.5%	414.6%
8	LAC	Lithium Americas	114.8%	135.0%
9	SES	SES AI	107.0%	49.3%
10	UAMY	United States Antimony	106.9%	658.8%

1 Month Top Losers

#	Ticker	Company	1M Rtn	YTD Rtn
1	SOC	Sable Offshore	-45.7%	-44.1%
2	FLY	Firefly Aerospace	-40.0%
3	ALAB	Astera Labs	-36.3%	18.0%
4	UP	Wheels Up Experience	-36.0%	-3.0%
5	PGY	Pagaya Technologies	-31.7%	211.2%
6	KVYO	Klaviyo	-30.9%	-41.0%
7	USNA	Usana Health Sciences	-30.5%	-42.4%
8	VG	Venture Global	-29.9%
9	DOMO	Domo	-28.4%	82.6%
10	MGNI	Magnite	-28.0%	17.3%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	CELC	Celcuity	35.8%	439.2%
2	BETR	Better Home & Finance	28.5%	812.4%
3	KOD	Kodiak Sciences	25.5%	77.9%
4	CLF	Cleveland-Cliffs	21.5%	72.1%
5	UAMY	United States Antimony	20.0%	658.8%
6	CRMD	Cormedix	19.4%	50.1%
7	PMI	Picard Medical	19.2%	18312.7%
8	BEAM	Beam Therapeutics	17.9%	23.5%
9	GRAL	GRAIL	17.8%	414.6%
10	NUTX	Nutex Health	17.0%	250.3%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	OLMA	Olema Pharmaceuticals	-17.0%	33.3%
2	VSTM	Verastem	-13.0%	55.1%
3	EXEL	Exelixis	-12.0%	3.7%
4	BCAX	Bicara Therapeutics	-10.9%	-6.7%
5	QBTS	D-Wave Quantum	-10.3%	309.5%
6	GKOS	Glaukos	-8.8%	-47.0%
7	PRAX	Praxis Precision Medicines	-7.9%	127.5%
8	CBRL	Cracker Barrel Old Country Store	-7.5%	-29.2%
9	CRWV	CoreWeave	-7.2%
10	ELF	e.l.f. Beauty	-6.9%	1.5%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	PRAX	Praxis Precision Medicines	234.5%	127.5%
2	NVTS	Navitas Semiconductor	71.5%	379.0%
3	BETR	Better Home & Finance	60.2%	812.4%
4	KOD	Kodiak Sciences	52.6%	77.9%
5	CELC	Celcuity	48.9%	439.2%
6	SSII	SS Innovations International	47.6%	26.5%
7	CCO	Clear Channel Outdoor	44.6%	37.2%
8	GRAL	GRAIL	30.4%	414.6%
9	LBRT	Liberty Energy	28.9%	-18.7%
10	SANA	Sana Biotechnology	28.0%	241.1%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	SOC	Sable Offshore	-31.3%	-44.1%
2	ONDS	Ondas	-28.1%	203.5%
3	OLMA	Olema Pharmaceuticals	-27.7%	33.3%
4	IONQ	IonQ	-27.0%	43.5%
5	AIV	Apartment Investment & Management	-26.6%	-7.0%
6	RCAT	Red Cat	-24.8%	-10.0%
7	MNPR	Monopar Therapeutics	-24.4%	250.7%
8	LAR	Lithium Argentina	-23.1%
9	ASPI	ASP Isotopes	-23.0%	126.5%
10	ALAB	Astera Labs	-21.7%	18.0%

Peer Comparisons for Avery Dennison

Financials

	AVY	JNJ	MMM	PI	SEE	IP	Median
Name	Avery De.	Johnson .	3M	Impinj	Sealed A.	Internat.
Mkt Price	160.25	193.72	154.78	203.40	34.91	47.89	157.51
Mkt Cap	12.5	466.1	83.2	5.8	5.1	25.3	18.9
Rev LTM	8,738	90,627	24,602	364	5,325	21,934	15,336
Op Inc LTM	1,121	22,228	4,790	-5	793	274	957
FCF LTM	602	16,397	-1,983	44	382	-118	213
FCF 3Y Avg	579	16,926	2,246	12	381	507	543
CFO LTM	814	23,028	-1,002	57	583	1,106	698
CFO 3Y Avg	841	22,248	3,640	28	604	1,632	1,236

Growth & Margins

	AVY	JNJ	MMM	PI	SEE	IP	Median
Name	Avery De.	Johnson .	3M	Impinj	Sealed A.	Internat.
Rev Chg LTM	1.7%	4.7%	0.2%	21.8%	-2.0%	18.1%	3.2%
Rev Chg 3Y Avg	-0.8%	4.0%	-10.7%	23.7%	-2.7%	2.7%	1.0%
Rev Chg Q	-0.7%	5.8%	1.4%	-3.3%	-0.8%	42.9%	0.4%
QoQ Delta Rev Chg LTM	-0.2%	1.5%	0.4%	-0.7%	-0.2%	10.2%	0.1%
Op Mgn LTM	12.8%	24.5%	19.5%	-1.3%	14.9%	1.2%	13.9%
Op Mgn 3Y Avg	12.1%	26.3%	0.5%	-7.6%	15.2%	3.8%	7.9%
QoQ Delta Op Mgn LTM	-0.0%	-0.2%	-0.6%	0.1%	-0.0%	-0.3%	-0.1%
CFO/Rev LTM	9.3%	25.4%	-4.1%	15.7%	11.0%	5.0%	10.1%
CFO/Rev 3Y Avg	9.8%	25.7%	13.1%	8.1%	11.2%	8.2%	10.5%
FCF/Rev LTM	6.9%	18.1%	-8.1%	12.2%	7.2%	-0.5%	7.0%
FCF/Rev 3Y Avg	6.7%	19.6%	7.9%	3.1%	7.0%	2.6%	6.9%

Valuation

	AVY	JNJ	MMM	PI	SEE	IP	Median
Name	Avery De.	Johnson .	3M	Impinj	Sealed A.	Internat.
Mkt Cap	12.5	466.1	83.2	5.8	5.1	25.3	18.9
P/S	1.4	5.1	3.4	16.0	1.0	1.2	2.4
P/EBIT	11.5	16.5	14.3	2,704.4	7.0	77.3	15.4
P/E	17.6	20.6	21.1	-6,086.9	17.6	-936.3	17.6
P/CFO	15.4	20.2	-83.0	102.1	8.8	22.9	17.8
Total Yield	7.9%	7.5%	5.7%	-0.0%	6.8%	3.1%	6.2%
Dividend Yield	2.3%	2.6%	0.9%	0.0%	1.2%	3.2%	1.7%
FCF Yield 3Y Avg	3.8%	4.5%	4.9%	0.2%	7.7%	4.2%	4.4%
D/E	0.3	0.1	0.2	0.1	0.9	0.4	0.2
Net D/E	0.3	0.1	0.1	0.0	0.8	0.4	0.2

Returns

	AVY	JNJ	MMM	PI	SEE	IP	Median
Name	Avery De.	Johnson .	3M	Impinj	Sealed A.	Internat.
1M Rtn	-2.5%	9.9%	-1.2%	6.2%	2.4%	3.1%	2.8%
3M Rtn	-10.0%	18.7%	1.8%	74.6%	14.1%	-5.8%	7.9%
6M Rtn	-4.2%	25.4%	23.9%	191.9%	35.8%	8.4%	24.7%
12M Rtn	-24.8%	21.1%	16.8%	-6.8%	-3.6%	6.1%	1.2%
3Y Rtn	-1.2%	25.8%	78.3%	133.7%	-20.4%	66.0%	45.9%
1M Excs Rtn	-3.6%	8.9%	-2.2%	5.1%	1.3%	2.1%	1.7%
3M Excs Rtn	-18.0%	9.5%	-3.9%	72.9%	5.5%	-14.9%	0.8%
6M Excs Rtn	-34.7%	-5.1%	-6.6%	161.4%	5.2%	-22.2%	-5.9%
12M Excs Rtn	-39.2%	6.5%	0.5%	-28.2%	-13.9%	-11.8%	-12.9%
3Y Excs Rtn	-81.9%	-55.0%	-1.3%	70.8%	-102.4%	-16.0%	-35.5%

Financials

Annual
Quarterly

$ Mil \| FY: 12/28	LTM	2024	2023	2022	2021	2020	2019
Period End	6/28/2025	12/28/2024	12/30/2023	12/31/2022	1/1/2022	1/2/2021	12/28/2019
Filing Date	7/29/2025	2/26/2025	2/21/2024	2/22/2023	2/23/2022	2/25/2021	2/26/2020
Key Financials
Total Revenue	8,738	8,756	8,364	9,039	8,408	6,972	7,070
EBITDA	1,402	1,383	1,112	1,374	1,307	1,013	504
Operating Income	1,121	1,115	964	1,073	1,064	863	824
Net Income	711	705	503	757	740	556	304
EPS	8.96	8.77	6.23	9.28	8.93	6.67	3.61
Growth Rates
Total Revenue Growth	1.7%	4.7%	-7.5%	7.5%	20.6%	-1.4%	-1.2%
EBITDA Growth	9.1%	24.3%	-19.1%	5.1%	29.1%	100.8%	-36.5%
Operating Income Growth	4.0%	15.7%	-10.2%	0.9%	23.4%	4.7%	4.5%
Net Income Growth	12.7%	40.1%	-33.6%	2.3%	33.1%	83.1%	-35.0%
Margins
EBITDA Margin	16.0%	15.8%	13.3%	15.2%	15.5%	14.5%	7.1%
Operating Income Margin	12.8%	12.7%	11.5%	11.9%	12.7%	12.4%	11.7%
Net Income Margin	8.1%	8.1%	6.0%	8.4%	8.8%	8.0%	4.3%
Cash & Debt
Total Cash	216	329	215	167	163	252	254
Total Debt	3,550	3,152	3,244	3,102	3,105	2,117	1,940
Net Debt / (Cash)	3,334	2,823	3,029	2,935	2,942	1,865	1,686
Cash Flows
Net Cash from Operations	814	939	826	961	1,047	751	746
Free Cash from Operations	602	699	541	662	775	533	489
Returns to Shareholders
Dividends	284	278	257	239	221	197	190
Share Repurchases	567	248	138	380	181	104	238

$ Mil \| FY: 12/28	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3
Period End	6/28/2025	3/29/2025	12/28/2024	9/28/2024	6/29/2024	3/30/2024	12/30/2023	9/30/2023	7/1/2023	4/1/2023	12/31/2022	10/1/2022
Filing Date	7/29/2025	4/29/2025	2/26/2025	10/29/2024	7/30/2024	4/30/2024	2/21/2024	10/31/2023	8/1/2023	5/2/2023	2/22/2023	11/1/2022
Key Financials Quarterly
Total Revenue	2,220	2,148	2,186	2,183	2,235	2,151	2,110	2,098	2,090	2,065	2,026	2,317
Ebitda	370	336	349	347	346	340	308	291	246	267	265	366
Operating Income	287	274	280	280	289	267	261	261	234	208	188	288
Net Income	189	166	174	182	177	172	143	138	100	121	123	222
EPS	2.42	2.10	2.18	2.26	2.19	2.14	1.78	1.72	1.24	1.50	1.52	2.73
Key Financials TTM
Total Revenue TTM	8,738	8,753	8,756	8,680	8,595	8,451	8,364	8,280	8,498	8,755	9,039	9,197
Ebitda TTM	1,402	1,378	1,383	1,342	1,286	1,185	1,112	1,069	1,144	1,280	1,374	1,446
Operating Income TTM	1,121	1,123	1,115	1,097	1,078	1,023	964	891	918	995	1,073	1,138
Net Income TTM	711	699	705	674	631	554	503	483	566	680	757	817
Growth Rates Quarterly
Total Revenue Growth	-0.7%	-0.1%	3.6%	4.1%	6.9%	4.2%	4.2%	-9.4%	-10.9%	-12.1%	-7.2%	11.8%
EBITDA Growth	7.0%	-1.3%	13.1%	19.5%	40.7%	27.5%	16.3%	-20.5%	-35.6%	-26.1%	-21.2%	20.2%
Operating Income Growth	-0.7%	2.8%	7.2%	7.2%	23.5%	28.4%	39.0%	-9.5%	-24.8%	-27.4%	-25.7%	12.0%
Net Income Growth	6.9%	-3.5%	21.6%	31.4%	76.1%	42.2%	16.4%	-37.6%	-53.2%	-38.8%	-32.7%	35.0%
Margins Quarterly
EBITDA Margin	16.7%	15.6%	16.0%	15.9%	15.5%	15.8%	14.6%	13.9%	11.8%	12.9%	13.1%	15.8%
Operating Income Margin	12.9%	12.8%	12.8%	12.8%	12.9%	12.4%	12.4%	12.4%	11.2%	10.1%	9.3%	12.4%
Net Income Margin	8.5%	7.7%	8.0%	8.3%	7.9%	8.0%	6.8%	6.6%	4.8%	5.9%	6.1%	9.6%
Cash & Debt
Total Cash	216	196	329	213	209	186	215	210	217	351	167	128
Total Debt	3,550	3,459	3,152	3,159	3,219	3,240	3,244	3,314	3,546	3,559	3,102	3,133
Net Debt / (Cash)	3,334	3,263	2,823	2,946	3,010	3,055	3,029	3,104	3,328	3,208	2,935	3,005
Cash Flows Quarterly
FCF from Operations	209	-16	351	270	198	120	312	323	190	2	346	221
Cash Flows TTM
FCF from Operations TTM	814	803	939	900	952	944	826	860	758	837	961	899
Returns to Shareholders Quarterly
Dividends	74	69	70	71	71	65	65	65	65	61	61	61
Share Repurchases	98	262	140	67	25	16	20	28	39	51	61	50
Return on Invested Capital (ROIC) Quarterly
ROIC	25.4%	24.7%	28.6%	28.8%	28.5%	25.7%	24.5%	25.2%	20.1%	18.7%	18.6%	31.2%
Return on Invested Capital (ROIC) TTM
ROIC TTM	24.8%	25.4%	29.2%	27.5%	26.3%	24.4%	23.0%	20.9%	20.8%	23.5%	27.7%	28.8%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Materials Group	5,968	6,632	6,312
Solutions Group	2,588	2,582	2,239
Intersegment sales	-193	-174	-143
Industrial and Healthcare Materials				626	674
Label and Graphic Materials				4,715	4,746
Retail Branding and Information Solutions				1,631	1,650
Total	8,364	9,039	8,408	6,972	7,070

Price Behavior

Price Behavior

Market Price	$160.25
Market Cap ($ Bil)	12.5
First Trading Date	12/29/1983
Distance from 52W High	-24.8%
	50 Days	200 Days
DMA Price	$166.43	$174.43
DMA Trend	down	down
Distance from DMA	-3.7%	-8.1%
	3M	1YR
Volatility	17.7%	22.0%
Downside Capture	102.39	79.96
Upside Capture	12.47	39.56
Correlation (SPY)	28.2%	51.0%

AVY Betas & Captures as of 9/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.02	0.67	0.79	0.68	0.58	0.79
Up Beta	2.49	1.39	0.97	0.71	0.69	0.90
Down Beta	0.82	0.37	0.59	0.45	0.36	0.59
Up Capture	-7%	25%	34%	55%	29%	39%
Bmk +ve Days	13	23	35	74	144	420
Stock +ve Days	9	22	31	59	116	391
Down Capture	194%	82%	134%	107%	89%	97%
Bmk -ve Days	8	19	29	52	107	330
Stock -ve Days	12	20	33	67	135	360

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date	9302025
Short Interest: Shares Quantity	1,853,095
Short Interest: % Change Since 9152025	6.2%
Average Daily Volume	673,739
Days-to-Cover Short Interest	2.75
Basic Shares Quantity	78,200,000
Short % of Basic Shares	2.4%

Returns Analyses

	Title
0	How Low Can Avery Dennison Stock Really Go?
1	AVY YTD Stock Return Of 7.2% Outperforms SEE by 9.3% and Underperforms PI by -135%
2	Avery Dennison Stock Return Comparison
3	Avery Dennison Total Shareholder Return (TSR): -15.1% in 2022 and 13.1% 3-yr returns (below peer average)

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
7/22/2025	1.5%	-2.6%	-2.1%
4/23/2025	-2.6%	-1.8%	3.0%
1/30/2025	-5.4%	-4.3%	-2.6%
10/23/2024	-2.2%	-2.9%	-6.9%
7/23/2024	-1.6%	-5.0%	-5.3%
4/24/2024	0.5%	2.8%	8.5%
1/31/2024	-0.9%	-1.4%	7.6%
10/25/2023	-2.7%	0.6%	9.7%
...
SUMMARY STATS
# Positive	10	13	12
# Negative	14	11	12
Median Positive	4.5%	4.4%	9.1%
Median Negative	-2.4%	-4.3%	-3.7%
Max Positive	7.2%	10.9%	12.8%
Max Negative	-7.8%	-10.7%	-16.7%

	Forward Returns
7/22/2025	1.5%	-2.6%	-2.1%
4/23/2025	-2.6%	-1.8%	3.0%
1/30/2025	-5.4%	-4.3%	-2.6%
10/23/2024	-2.2%	-2.9%	-6.9%
7/23/2024	-1.6%	-5.0%	-5.3%
4/24/2024	0.5%	2.8%	8.5%
1/31/2024	-0.9%	-1.4%	7.6%
10/25/2023	-2.7%	0.6%	9.7%
7/25/2023	-1.7%	3.6%	-0.6%
4/26/2023	-3.3%	1.5%	-3.5%
2/2/2023	-1.6%	-4.3%	-4.0%
10/26/2022	-7.8%	-4.6%	9.0%
7/27/2022	7.2%	10.9%	12.8%
4/26/2022	3.3%	6.3%	-3.5%
2/2/2022	-2.8%	-10.7%	-16.7%
10/27/2021	-1.8%	2.0%	3.3%
7/28/2021	2.4%	4.4%	9.2%
4/28/2021	3.5%	5.1%	6.1%
2/3/2021	6.7%	10.6%	10.8%
10/21/2020	6.1%	2.8%	9.7%
7/27/2020	-3.8%	-5.9%	-4.2%
4/29/2020	-0.5%	-7.1%	-2.2%
1/29/2020	5.4%	5.9%	-10.9%
10/23/2019	6.5%	9.1%	11.3%
SUMMARY STATS
# Positive	10	13	12
# Negative	14	11	12
Median Positive	4.5%	4.4%	9.1%
Median Negative	-2.4%	-4.3%	-3.7%
Max Positive	7.2%	10.9%	12.8%
Max Negative	-7.8%	-10.7%	-16.7%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
6302025	7292025	10-Q 6/28/2025
3312025	4292025	10-Q 3/29/2025
12312024	2262025	10-K 12/28/2024
9302024	10292024	10-Q 9/28/2024
6302024	7302024	10-Q 6/29/2024
3312024	4302024	10-Q 3/30/2024
12312023	2212024	10-K 12/30/2023
9302023	10312023	10-Q 9/30/2023
6302023	8012023	10-Q 7/1/2023
3312023	5022023	10-Q 4/1/2023
12312022	2222023	10-K 12/31/2022
9302022	11012022	10-Q 10/1/2022
6302022	8022022	10-Q 7/2/2022
3312022	5032022	10-Q 4/2/2022
12312021	2232022	10-K 1/1/2022
9302021	11022021	10-Q 10/2/2021

Insider Activity

Expand for More

	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	Butier Mitchell R	Executive Chairman	3072025	Sell	181.22	5,651	1,024,064	56,295,253	Form
1	Butier Mitchell R	Executive Chairman	3062025	Sell	186.19	8,068	1,502,199	58,892,624	Form
2	Colisto Nicholas	SVP & CIO	11272024	Sell	206.00	3,679	757,856	1,467,920	Form

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

Avery Dennison (AVY)

Market Price (10/21/2025): $160.25 | Market Cap: $12.5 BilSector: Materials | Industry: Paper & Plastic Packaging Products & Materials

Avery Dennison (AVY)

Market Price (10/21/2025): $160.25Market Cap: $12.5 BilSector: MaterialsIndustry: Paper & Plastic Packaging Products & Materials

Market Valuation & Key Metrics

AVY Stock

Return vs. Risk

Price Returns Compared

Downturns Compared

How Low Can It Go?

Preserve Wealth

Asset Allocation

Interactive Breakdown

Better Bets than Avery Dennison (AVY)

Latest Trefis Analyses

Trade Ideas

Recent Active Movers

1 Day Top Gainers

1 Day Top Losers

1 Week Top Gainers

1 Week Top Losers

1 Month Top Gainers

1 Month Top Losers

Recent Active Movers

1 Day Top Gainers

1 Day Top Losers

1 Week Top Gainers

1 Week Top Losers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Avery Dennison

Financials

Growth & Margins

Valuation

Returns

Comparison Analyses

FDIC Bank Data

Bank Capital

Bank Deposits

Bank Assets

Bank Loans

Financials

Segment Financials

Price Behavior

Short Interest

Returns Analyses

Earnings Returns History

SEC Filings

Insider Activity

Industry Resources

External Quote Links

Market Price (10/21/2025): $160.25 | Market Cap: $12.5 Bil
Sector: Materials | Industry: Paper & Plastic Packaging Products & Materials

Market Price (10/21/2025): $160.25
Market Cap: $12.5 Bil
Sector: Materials
Industry: Paper & Plastic Packaging Products & Materials