Avery Dennison Corp (AVY)
Materials · Paper & Plastic Packaging Products & Materials · US stock · S&P 500 component
$175.31
▼ -0.57 (0.32%)
Fair valueFair
$209 +19.2% to fair value
$104fair band $146–$272$313
Day's range
$174.56 – $178.48
52-week range
$150.83 – $196.15
About Avery Dennison Corp
Avery Dennison is a materials science company that makes pressure-sensitive labels, packaging materials, graphics and tagging products. It supplies adhesive label stock used on consumer goods, as well as apparel branding, radio frequency identification tags and specialty tapes for industrial and medical uses. Customers include consumer brands, retailers and converters. Revenue comes from product sales, and results reflect raw material costs and consumer demand.
Over the past three years revenue moved by a decline of 0.7% a year, leaving the last twelve months at $9.2 billion. Operating margin is 12.0%. Return on invested capital comes to 14%. On leverage, net debt to EBITDA is 2.4 times. A dividend is paid, with a yield of 2.2%. This gives an X-Ray Score of 61 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $150.83 – $196.15Volume 563,400Daily, split-adjusted
Vitals
Market cap$13.4B
52-week range$150.83 – $196.15
Volume (last day)563,400
P/E (TTM)19.3
EBIT / EV yield6.6%
Free-cash-flow yield7.9%
Dividend yield2.2%
Revenue (TTM)$9.2B
Net income (TTM)$705M
Operating margin12.0%
Return on capital14.0%
Debt incl. leases$3.7B
Cash & securities$227M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$209model spread $196 – $222
Fair
+19.2% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is Medium, so the safety margin is 30%.
Multiples use through-the-cycle earnings (0.89x of the last twelve months)
Price $175
Undervalued < $146Fair $146 – $272Overvalued > $272
10-year DCF (market-scaled)
$185
Peer multiples
$195
Earnings power floor (not blended)
$74
Fundamentals-adjusted multiple
$247
Growth the price implies
9.6%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Average business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Materials peers. Open a lens to see the numbers behind it.
Valuation
Strong
74/100
Cheap against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield6.6%
Free-cash-flow yield7.9%
Fair value vs price1.2×
Growth
Weak
42/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)-0.7%
EPS growth (3y)-1.5%
Growth consistency80%
Profitability
Strong
75/100
Earns high returns on the capital it uses.
See the numbers →
Return on invested capital14.0%
Operating margin12.0%
Gross profitability29.1%
Financial health
Weak
43/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score5 / 9
Net debt / EBITDA2.4×
Interest cover7.8×
Dividends
Fair
65/100
Dividend is typical for its sector.
See the numbers →
Dividend yield2.2%
Dividends vs free cash flow28%
Dividend growth6.5%
Quarterly results: last 6 quarters
-0.1%
Mar '25
-0.7%
Jun '25
+1.5%
Sep '25
+3.9%
Dec '25
+7.0%
Mar '26
+10.9%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $2.5B, diluted EPS $2.67.
Compare with peers
PKG Packaging Corp Of Amer...56 AMCR Amcor plc55 SW Smurfit Westrock plc52 IP International Paper Co36Other Paper & Plastic Packaging Products & Materials companies by X-Ray Score.
Fundamentals checklist
● 5 Good · ● 8 Average · ● 3 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldGood
Risk models
Altman Z''Average
Piotroski F-ScoreBad
Growth
EPS growth (3y)Average
Free-cash-flow growth (3y)Bad
Revenue growth (3y)Average
Growth consistencyGood
Balance sheet
Current ratioBad
Net debt / EBITDAAverage
Interest coverAverage
Valuation
Fair value vs priceAverage
EBIT / EV yieldGood
Profitability
Return on invested capitalGood
Operating marginAverage
Gross profitabilityGood
Each check is graded against the company's sector, not a fixed number. Checklist score 60/100.
Financials
| FY22 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $8.4B | $9.0B | $8.4B | $8.8B | $8.9B |
| Operating income | $1.1B | $1.1B | $814M | $1.1B | $1.1B |
| Net income | $740M | $757M | $503M | $705M | $688M |
| Operating cash flow | $1.0B | $961M | $826M | $939M | $881M |
| Operating margin | 12.6% | 12.0% | 9.7% | 12.2% | 12.0% |
| Free cash flow | $792M | $683M | $561M | $730M | $712M |
| Diluted EPS | $8.83 | $9.21 | $6.20 | $8.73 | $8.79 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bullish
12 bullish · 3 neutral · 1 bearish
Weekly
Strongly bullish
10 bullish · 1 neutral · 1 bearish
Monthly
Bullish
5 bullish · 1 neutral · 2 bearish
Moving averages (daily)
| SMA 10 | 170.2 | Bullish |
| EMA 10 | 171.6 | Bullish |
| SMA 20 | 170.5 | Bullish |
| EMA 20 | 171.1 | Bullish |
| SMA 50 | 173.5 | Bullish |
| EMA 50 | 170.7 | Bullish |
| SMA 100 | 167.0 | Bullish |
| EMA 100 | 169.6 | Bullish |
| SMA 200 | 170.5 | Bullish |
| EMA 200 | 169.6 | Bullish |
Oscillators (daily)
| RSI (14) | 60.55 | Neutral |
| MACD (12, 26) | 0.22 | Bullish |
| Momentum (12) | 2.72 | Bullish |
| Stochastic %K (14) | 77.96 | Neutral |
| Williams %R (14) | -22.04 | Neutral |
| CCI (20) | 223.0 | Bearish |
Pivot points (classic, last session)
S3 169.8 | S2 172.2 | S1 173.8 | Pivot 176.1 | R1 177.7 | R2 180.0 | R3 181.6 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
3.88 USD
Yield on today's price
2.21%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 2 Sep 2026 | 1.0000 |
| 3 Jun 2026 | 1.0000 |
| 4 Mar 2026 | 0.9400 |
| 3 Dec 2025 | 0.9400 |
| 3 Sep 2025 | 0.9400 |
| 4 Jun 2025 | 0.9400 |
| 5 Mar 2025 | 0.8800 |
| 4 Dec 2024 | 0.8800 |
| 4 Sep 2024 | 0.8800 |
| 5 Jun 2024 | 0.8800 |
| 5 Mar 2024 | 0.8100 |
| 5 Dec 2023 | 0.8100 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
AVY SEC filings
13 Oct 2026
8-KSEC EDGAR
Director or officer change
5 Oct 2026
8-KSEC EDGAR
Director or officer change
19 Aug 2026
8-KSEC EDGAR
Other events
4 Aug 2026
10-QSEC EDGAR
Quarterly report
30 Jul 2026
8-KSEC EDGAR
Results of operations
4 Jun 2026
8-KSEC EDGAR
Director or officer change
5 May 2026
10-QSEC EDGAR
Quarterly report
1 May 2026
8-KSEC EDGAR
Shareholder vote results
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.