Avery Dennison (AVY) Financials

$172.35 +2.67 (+1.57%)

As of 04/14/2025 03:58 PM Eastern

Annual Income Statements for Avery Dennison

This table shows Avery Dennison's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	274	321	282	467	304	556	740	757	503	705
Consolidated Net Income / (Loss)	274	321	282	467	304	556	740	757	503	705
Net Income / (Loss) Continuing Operations	274	321	282	467	304	556	740	757	503	705
Total Pre-Tax Income	409	477	590	555	250	737	993	999	695	954
Total Operating Income	538	614	707	788	824	863	1,064	1,073	964	1,115
Total Gross Profit	1,646	1,700	1,812	1,916	1,904	1,923	2,313	2,404	2,278	2,531
Total Revenue	5,967	6,087	6,614	7,159	7,070	6,972	8,408	9,039	8,364	8,756
Operating Revenue	5,967	6,087	6,614	7,159	7,070	6,972	8,408	9,039	8,364	8,756
Total Cost of Revenue	4,321	4,387	4,802	5,244	5,166	5,048	6,096	6,635	6,087	6,225
Operating Cost of Revenue	4,321	4,387	4,802	5,244	5,166	5,048	6,096	6,635	6,087	6,225
Total Operating Expenses	1,108	1,086	1,105	1,128	1,080	1,061	1,249	1,331	1,314	1,415
Selling, General & Admin Expense	1,108	1,086	1,105	1,128	1,080	1,061	1,249	1,331	1,314	1,415
Total Other Income / (Expense), net	-129	-137	-118	-233	-574	-126	-72	-74	-269	-162
Interest Expense	61	60	63	59	76	70	70	84	119	117
Other Income / (Expense), net	-68	-77	-55	-175	-498	-56	-1.50	10	-150	-45
Income Tax Expense	135	156	308	85	-57	178	249	242	192	249
Basic Earnings per Share	$3.01	$3.60	$3.19	$5.35	$3.61	$6.67	$8.93	$9.28	$6.23	$8.77
Weighted Average Basic Shares Outstanding	91M	89.10M	88.30M	87.30M	84M	83.40M	82.90M	81.60M	80.70M	80.40M
Diluted Earnings per Share	$2.95	$3.54	$3.13	$5.28	$3.57	$6.61	$8.83	$9.21	$6.20	$8.73
Weighted Average Diluted Shares Outstanding	92.90M	90.70M	90.10M	88.60M	85M	84.10M	83.80M	82.20M	81.10M	80.70M
Weighted Average Basic & Diluted Shares Outstanding	91.10M	89.10M	88.30M	87.40M	83.30M	83.04M	82.46M	80.82M	80.51M	78.99M
Cash Dividends to Common per Share	$1.46	$1.60	$1.76	$2.01	$2.26	$2.36	$2.66	$2.93	$3.18	$3.45

This table shows Avery Dennison's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	222	123	121	100	138	143	172	177	182	174
Consolidated Net Income / (Loss)	222	123	121	100	138	143	172	177	182	174
Net Income / (Loss) Continuing Operations	222	123	121	100	138	143	172	177	182	174
Total Pre-Tax Income	273	169	168	140	185	202	234	238	239	241
Total Operating Income	288	188	208	234	261	261	267	289	280	280
Total Gross Profit	619	500	542	553	586	596	632	663	627	609
Total Revenue	2,317	2,026	2,065	2,091	2,098	2,111	2,151	2,235	2,183	2,186
Operating Revenue	2,317	2,026	2,065	2,091	2,098	2,111	2,151	2,235	2,183	2,186
Total Cost of Revenue	1,698	1,526	1,523	1,537	1,513	1,515	1,519	1,573	1,557	1,577
Operating Cost of Revenue	1,698	1,526	1,523	1,537	1,513	1,515	1,519	1,573	1,557	1,577
Total Operating Expenses	331	312	334	320	325	335	365	374	347	329
Selling, General & Admin Expense	331	312	334	320	325	335	365	374	347	329
Total Other Income / (Expense), net	-16	-19	-40	-94	-76	-60	-33	-50	-40	-39
Interest Expense	21	23	26	32	31	30	29	29	30	29
Other Income / (Expense), net	5.30	3.80	-13	-62	-45	-30	-4.00	-21	-10	-9.30
Income Tax Expense	51	46	47	40	46	59	62	62	58	67
Basic Earnings per Share	$2.73	$1.51	$1.50	$1.24	$1.72	$1.77	$2.14	$2.19	$2.26	$2.18
Weighted Average Basic Shares Outstanding	81.20M	81.60M	80.90M	80.70M	80.60M	80.70M	80.50M	80.60M	80.50M	80.40M
Diluted Earnings per Share	$2.70	$1.51	$1.49	$1.24	$1.71	$1.76	$2.13	$2.18	$2.25	$2.17
Weighted Average Diluted Shares Outstanding	81.90M	82.20M	81.50M	81M	81M	81.10M	81M	81M	80.80M	80.70M
Weighted Average Basic & Diluted Shares Outstanding	80.97M	80.82M	80.73M	80.58M	80.53M	80.51M	80.55M	80.52M	80.35M	78.99M

This table details how cash moves in and out of Avery Dennison's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-48	36	29	7.60	22	-1.40	-90	4.50	48	114
Net Cash From Operating Activities	474	582	646	458	747	751	1,047	961	826	939
Net Cash From Continuing Operating Activities	474	478	646	458	747	751	1,047	961	826	939
Net Income / (Loss) Continuing Operations	274	321	282	467	304	556	740	757	503	705
Consolidated Net Income / (Loss)	274	321	282	467	304	556	740	757	503	705
Depreciation Expense	125	118	127	142	140	154	167	177	187	197
Amortization Expense	63	63	52	40	39	51	77	113	111	115
Non-Cash Adjustments To Reconcile Net Income	135	169	121	234	566	133	85	121	109	143
Changes in Operating Assets and Liabilities, net	-124	-192	64	-425	-302	-143	-22	-208	-85	-222
Net Cash From Investing Activities	-143	-432	-543	-233	-251	-554	-1,738	-333	-459	-243
Net Cash From Continuing Investing Activities	-143	-432	-543	-233	-251	-554	-1,738	-335	-461	-243
Purchase of Property, Plant & Equipment	-136	-177	-191	-227	-219	-201	-255	-278	-265	-209
Acquisitions	0.00	-237	-319	-3.80	-6.50	-350	-1,478	-40	-225	-3.80
Purchase of Investments	-0.50	-	-3.90	-	-	-	-	0.00	0.00	-34
Sale of Property, Plant & Equipment	7.60	8.50	6.00	9.40	7.80	9.20	1.10	2.30	1.00	0.60
Divestitures	-	-	-	-	0.00	0.00	7.60	1.10	0.00	0.00
Sale and/or Maturity of Investments	-	3.10	-	19	4.90	5.60	3.10	0.00	0.00	34
Other Investing Activities, net	-14	-30	-36	-30	-38	-17	-17	-20	28	-31
Net Cash From Financing Activities	-367	-106	-84	-208	-470	-208	604	-615	-317	-576
Net Cash From Continuing Financing Activities	-367	-106	-84	-208	-470	-208	604	-615	-317	-576
Repayment of Debt	-106	-2.70	-343	-84	-20	-770	-20	-6.30	-258	-313
Repurchase of Common Equity	-232	-262	-130	-393	-238	-104	-181	-380	-138	-248
Payment of Dividends	-133	-143	-156	-175	-190	-197	-221	-239	-257	-278
Issuance of Debt	0.00	235	543	493	-5.30	883	1,051	35	358	270
Other Financing Activities, net	104	67	1.40	-50	-17	-20	-25	-25	-24	-8.40
Effect of Exchange Rate Changes	-12	-7.40	11	-9.70	-3.50	9.20	-2.80	-8.60	-2.00	-5.50

This table details how cash moves in and out of Avery Dennison's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-37	39	184	-134	-7.20	5.10	-29	23	3.90	116
Net Cash From Operating Activities	221	346	1.90	190	323	312	120	198	270	351
Net Cash From Continuing Operating Activities	221	346	1.90	190	323	312	120	198	270	351
Net Income / (Loss) Continuing Operations	222	123	121	100	138	143	172	177	182	174
Consolidated Net Income / (Loss)	222	123	121	100	138	143	172	177	182	174
Depreciation Expense	44	45	45	47	47	49	49	50	49	50
Amortization Expense	28	28	28	27	28	28	28	29	29	29
Non-Cash Adjustments To Reconcile Net Income	23	35	31	17	27	34	37	55	30	21
Changes in Operating Assets and Liabilities, net	-96	115	-223	-1.70	82	58	-167	-113	-20	78
Net Cash From Investing Activities	-80	-103	-117	-205	-22	-115	-62	-57	-51	-74
Net Cash From Continuing Investing Activities	-80	-105	-117	-204	-23	-118	-62	-57	-51	-74
Purchase of Property, Plant & Equipment	-76	-95	-65	-51	-57	-92	-49	-48	-43	-70
Acquisitions	-	-2.50	-44	-151	-9.60	-21	-0.30	-1.60	-	-1.90
Sale of Property, Plant & Equipment	0.10	0.10	0.20	0.10	0.40	0.30	0.10	0.20	0.10	0.20
Sale and/or Maturity of Investments	-0.10	-1.90	0.00	-	-	-	14	12	1.40	6.50
Other Investing Activities, net	-4.00	-6.50	-8.80	-2.20	44	-4.50	-6.90	-6.00	-9.20	-8.90
Net Cash From Financing Activities	-173	-205	300	-117	-306	-195	-85	-117	-218	-156
Net Cash From Continuing Financing Activities	-173	-205	300	-117	-306	-195	-85	-117	-218	-156
Repayment of Debt	-1.00	-1.90	40	-294	-1.60	-1.70	-1.70	-2.90	-301	-7.70
Repurchase of Common Equity	-50	-61	-51	-39	-28	-20	-16	-25	-67	-140
Payment of Dividends	-61	-61	-61	-65	-65	-65	-65	-71	-71	-70
Issuance of Debt	-61	-81	395	282	-211	-107	16	-18	210	62
Other Financing Activities, net	-	-	-24	-0.10	-0.10	-	-18	-0.10	10	-0.20
Effect of Exchange Rate Changes	-4.20	0.60	-	-	-1.70	2.50	-2.10	-0.70	2.20	-4.90

This table presents Avery Dennison's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	4,134	4,396	5,137	5,178	5,489	6,084	7,972	7,951	8,210	8,404
Total Current Assets	1,775	1,905	2,238	2,298	2,341	2,416	2,735	2,782	2,796	3,079
Cash & Equivalents	159	195	224	232	254	252	163	167	215	329
Accounts Receivable	965	1,001	1,180	1,190	1,212	1,235	1,425	1,374	1,415	1,466
Inventories, net	479	519	610	651	663	717	907	1,010	921	978
Other Current Assets	140	153	188	225	212	212	240	231	245	305
Plant, Property, & Equipment, net	848	915	1,098	1,137	1,211	1,344	1,478	1,540	1,626	1,587
Total Noncurrent Assets	1,510	1,576	1,801	1,742	1,938	2,324	3,759	3,628	3,788	3,739
Goodwill	686	794	985	942	931	1,136	1,882	1,862	2,014	1,976
Intangible Assets	46	67	166	144	127	225	911	840	849	755
Noncurrent Deferred & Refundable Income Taxes	372	313	196	205	225	198	130	115	116	110
Other Noncurrent Operating Assets	406	403	453	451	655	765	836	811	810	897
Total Liabilities & Shareholders' Equity	4,134	4,396	5,137	5,178	5,489	6,084	7,972	7,951	8,210	8,404
Total Liabilities	3,168	3,471	4,091	4,222	4,285	4,599	6,047	5,918	6,082	6,092
Total Current Liabilities	1,459	2,004	1,972	1,994	2,254	1,926	2,548	2,800	2,700	2,863
Short-Term Debt	95	579	265	195	440	65	319	599	622	592
Accounts Payable	815	842	1,007	1,031	1,066	1,051	1,299	1,339	1,277	1,341
Accrued Expenses	310	328	402	493	456	485	556	557	142	158
Current Deferred & Payable Income Tax Liabilities	45	38	49	58	71	86	75	76	58	75
Current Employee Benefit Liabilities	195	217	249	218	220	239	299	229	213	289
Other Current Liabilities	-	-	-	-	-	-	-	-	387	408
Total Noncurrent Liabilities	1,709	1,467	2,119	2,228	2,031	2,673	3,499	3,119	3,382	3,229
Long-Term Debt	964	713	1,316	1,772	1,499	2,052	2,786	2,504	2,622	2,560
Noncurrent Deferred & Payable Income Tax Liabilities	108	92	173	-	110	117	239	248	260	235
Noncurrent Employee Benefit Liabilities	637	661	629	335	421	504	475	367	500	435
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	966	926	1,046	955	1,204	1,485	1,924	2,032	2,128	2,312
Total Preferred & Common Equity	966	926	1,046	955	1,204	1,485	1,924	2,032	2,128	2,312
Total Common Equity	966	926	1,046	955	1,204	1,485	1,924	2,032	2,128	2,312
Common Stock	958	976	987	996	998	986	986	1,003	979	965
Retained Earnings	2,278	2,473	2,597	2,865	2,979	3,349	3,881	4,415	4,692	5,151
Treasury Stock	-1,587	-1,772	-1,857	-2,224	-2,425	-2,501	-2,660	-3,022	-3,134	-3,348
Accumulated Other Comprehensive Income / (Loss)	-683	-752	-681	-682	-348	-350	-283	-364	-408	-456

This table presents Avery Dennison's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	8,042	7,951	8,222	8,266	8,133	8,210	8,255	8,298	8,452	8,404
Total Current Assets	2,962	2,782	2,989	2,851	2,814	2,796	2,887	2,968	3,085	3,079
Cash & Equivalents	128	167	351	217	210	215	186	209	213	329
Accounts Receivable	1,586	1,374	1,369	1,415	1,426	1,415	1,478	1,529	1,575	1,466
Inventories, net	1,014	1,010	1,051	991	936	921	973	980	1,014	978
Other Current Assets	234	231	218	228	242	245	251	251	284	305
Plant, Property, & Equipment, net	1,443	1,540	1,566	1,567	1,555	1,626	1,598	1,590	1,612	1,587
Total Noncurrent Assets	3,638	3,628	3,668	3,848	3,764	3,788	3,770	3,740	3,755	3,739
Goodwill	1,825	1,862	1,888	1,985	1,976	2,014	1,994	1,990	2,013	1,976
Intangible Assets	855	840	833	884	860	849	824	801	783	755
Noncurrent Deferred & Refundable Income Taxes	118	115	118	120	115	116	116	113	111	110
Other Noncurrent Operating Assets	840	811	829	860	812	810	837	837	848	897
Total Liabilities & Shareholders' Equity	8,042	7,951	8,222	8,266	8,133	8,210	8,255	8,298	8,452	8,404
Total Liabilities	6,035	5,918	6,179	6,251	6,070	6,082	6,051	6,011	6,058	6,092
Total Current Liabilities	2,939	2,800	2,644	2,609	2,744	2,700	3,308	3,300	3,349	2,863
Short-Term Debt	670	599	648	636	716	622	1,171	1,172	1,117	592
Accounts Payable	1,383	1,339	1,236	1,235	1,265	1,277	1,302	1,313	1,343	1,341
Accrued Expenses	650	557	571	559	561	142	633	579	614	158
Current Deferred & Payable Income Tax Liabilities	-	76	-	-	-	58	-	-	-	75
Current Employee Benefit Liabilities	237	229	188	179	202	213	203	235	275	289
Other Current Liabilities	-	-	-	-	-	387	-	-	-	408
Total Noncurrent Liabilities	3,096	3,119	3,536	3,642	3,325	3,382	2,743	2,711	2,709	3,229
Long-Term Debt	2,463	2,504	2,911	2,910	2,598	2,622	2,070	2,047	2,042	2,560
Noncurrent Deferred & Payable Income Tax Liabilities	218	248	257	258	253	260	255	249	251	235
Noncurrent Employee Benefit Liabilities	415	367	368	475	475	500	419	416	416	435
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,007	2,032	2,043	2,015	2,064	2,128	2,204	2,287	2,394	2,312
Total Preferred & Common Equity	2,007	2,032	2,043	2,015	2,064	2,128	2,204	2,287	2,394	2,312
Total Common Equity	2,007	2,032	2,043	2,015	2,064	2,128	2,204	2,287	2,394	2,312
Common Stock	991	1,003	975	975	977	979	958	957	964	965
Retained Earnings	4,347	4,415	4,486	4,527	4,608	4,692	4,809	4,922	5,043	5,151
Treasury Stock	-2,962	-3,022	-3,057	-3,094	-3,119	-3,134	-3,141	-3,155	-3,212	-3,348
Accumulated Other Comprehensive Income / (Loss)	-368	-364	-361	-393	-403	-408	-422	-438	-400	-456

This table displays calculated financial ratios and metrics derived from Avery Dennison's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-5.74%	2.00%	8.66%	8.24%	-1.24%	-1.39%	20.61%	7.50%	-7.47%	4.68%
EBITDA Growth	5.11%	9.03%	15.91%	-4.44%	-36.51%	100.79%	29.06%	5.14%	-19.07%	24.33%
EBIT Growth	10.68%	14.40%	21.51%	-6.01%	-46.96%	148.17%	31.65%	1.94%	-24.89%	31.56%
NOPAT Growth	6.93%	14.38%	-18.11%	97.27%	51.63%	-35.22%	21.82%	1.94%	-14.19%	18.16%
Net Income Growth	11.91%	16.92%	-12.13%	65.86%	-35.04%	83.10%	33.14%	2.30%	-33.56%	40.14%
EPS Growth	15.23%	20.00%	-11.58%	68.69%	-32.39%	85.15%	33.59%	4.30%	-32.68%	40.81%
Operating Cash Flow Growth	33.47%	22.88%	10.93%	-29.08%	63.03%	0.64%	39.33%	-8.20%	-14.05%	13.66%
Free Cash Flow Firm Growth	-7.40%	-46.03%	-116.59%	968.52%	116.33%	-75.91%	-468.37%	199.07%	-28.74%	66.70%
Invested Capital Growth	-6.09%	8.20%	18.90%	12.19%	7.46%	15.90%	45.29%	2.07%	3.83%	-0.42%
Revenue Q/Q Growth	-2.45%	1.60%	2.87%	0.47%	0.06%	3.23%	2.34%	-1.71%	1.02%	0.87%
EBITDA Q/Q Growth	-2.17%	4.85%	3.63%	-7.61%	18.74%	10.68%	0.79%	-4.94%	4.03%	3.02%
EBIT Q/Q Growth	-1.47%	6.78%	4.79%	-9.78%	32.07%	12.20%	-0.65%	-6.26%	5.12%	3.81%
NOPAT Q/Q Growth	-4.00%	-0.59%	-31.18%	71.75%	-10.61%	0.84%	-2.75%	-6.11%	7.49%	1.94%
Net Income Q/Q Growth	-4.92%	1.58%	-30.14%	50.43%	27.46%	5.50%	-1.18%	-7.32%	4.18%	4.58%
EPS Q/Q Growth	-4.84%	2.61%	-30.29%	50.86%	28.42%	5.76%	-1.01%	-6.78%	4.20%	4.93%
Operating Cash Flow Q/Q Growth	8.42%	4.47%	6.50%	3.25%	1.26%	4.16%	-2.38%	6.87%	-3.94%	4.37%
Free Cash Flow Firm Q/Q Growth	-27.15%	26.99%	-170.03%	37.48%	-18.36%	-31.85%	7.39%	10.43%	2.82%	33.06%
Invested Capital Q/Q Growth	-3.81%	-6.13%	-6.98%	-0.13%	2.07%	4.87%	1.57%	-0.89%	-0.20%	-3.83%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	27.58%	27.93%	27.40%	26.76%	26.93%	27.59%	27.51%	26.60%	27.23%	28.90%
EBITDA Margin	11.02%	11.78%	12.57%	11.10%	7.13%	14.52%	15.54%	15.20%	13.30%	15.79%
Operating Margin	9.01%	10.09%	10.69%	11.01%	11.65%	12.38%	12.66%	11.87%	11.52%	12.74%
EBIT Margin	7.87%	8.82%	9.87%	8.57%	4.60%	11.58%	12.64%	11.99%	9.73%	12.23%
Profit (Net Income) Margin	4.60%	5.27%	4.26%	6.53%	4.29%	7.97%	8.80%	8.38%	6.01%	8.05%
Tax Burden Percent	67.08%	67.22%	47.80%	84.25%	121.68%	75.40%	74.56%	75.76%	72.41%	73.93%
Interest Burden Percent	87.11%	88.85%	90.34%	90.46%	76.70%	91.33%	93.39%	92.24%	85.38%	89.07%
Effective Tax Rate	32.89%	32.78%	52.20%	15.39%	-22.73%	24.10%	25.05%	24.24%	27.59%	26.07%
Return on Invested Capital (ROIC)	18.76%	21.28%	15.32%	26.21%	36.24%	20.99%	19.42%	16.54%	13.79%	16.02%
ROIC Less NNEP Spread (ROIC-NNEP)	9.32%	12.02%	10.71%	13.29%	-5.12%	15.42%	17.02%	14.63%	7.25%	11.93%
Return on Net Nonoperating Assets (RNNOA)	8.49%	12.64%	13.27%	20.50%	-8.12%	20.36%	24.00%	21.73%	10.40%	15.73%
Return on Equity (ROE)	27.25%	33.92%	28.58%	46.71%	28.12%	41.35%	43.42%	38.27%	24.18%	31.75%
Cash Return on Invested Capital (CROIC)	25.04%	13.40%	-1.95%	14.73%	29.05%	6.26%	-17.51%	14.49%	10.03%	16.45%
Operating Return on Assets (OROA)	11.06%	12.59%	13.69%	11.89%	6.10%	13.95%	15.12%	13.61%	10.07%	12.89%
Return on Assets (ROA)	6.46%	7.52%	5.91%	9.06%	5.69%	9.61%	10.53%	9.51%	6.23%	8.49%
Return on Common Equity (ROCE)	27.25%	33.92%	28.58%	46.71%	28.12%	41.35%	43.42%	38.27%	24.18%	31.75%
Return on Equity Simple (ROE_SIMPLE)	28.40%	34.65%	26.94%	48.94%	25.22%	37.44%	38.46%	37.26%	23.64%	30.48%
Net Operating Profit after Tax (NOPAT)	361	413	338	667	1,011	655	798	813	698	825
NOPAT Margin	6.05%	6.78%	5.11%	9.31%	14.30%	9.39%	9.49%	9.00%	8.34%	9.42%
Net Nonoperating Expense Percent (NNEP)	9.44%	9.26%	4.60%	12.92%	41.36%	5.57%	2.40%	1.91%	6.53%	4.09%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	15.84%	12.99%	15.09%
Cost of Revenue to Revenue	72.42%	72.07%	72.60%	73.24%	73.07%	72.41%	72.49%	73.40%	72.77%	71.10%
SG&A Expenses to Revenue	18.57%	17.84%	16.71%	15.75%	15.28%	15.21%	14.85%	14.72%	15.71%	16.16%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	18.57%	17.84%	16.71%	15.75%	15.28%	15.21%	14.85%	14.72%	15.71%	16.16%
Earnings before Interest and Taxes (EBIT)	469	537	653	613	325	807	1,063	1,083	814	1,071
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	658	717	831	794	504	1,013	1,307	1,374	1,112	1,383
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.07	5.92	8.64	7.35	8.48	8.26	8.94	6.97	7.53	6.55
Price to Tangible Book Value (P/TBV)	20.95	84.04	0.00	0.00	69.63	99.18	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.82	0.90	1.37	0.98	1.44	1.76	2.05	1.57	1.92	1.73
Price to Earnings (P/E)	17.85	17.09	32.07	15.02	33.64	22.05	23.25	18.72	31.85	21.49
Dividend Yield	2.72%	2.60%	1.71%	2.48%	1.85%	1.61%	1.28%	1.67%	1.60%	1.83%
Earnings Yield	5.60%	5.85%	3.12%	6.66%	2.97%	4.53%	4.30%	5.34%	3.14%	4.65%
Enterprise Value to Invested Capital (EV/IC)	3.11	3.26	4.34	3.25	4.12	4.22	4.14	3.44	3.69	3.50
Enterprise Value to Revenue (EV/Rev)	0.97	1.08	1.57	1.22	1.68	2.03	2.40	1.89	2.28	2.05
Enterprise Value to EBITDA (EV/EBITDA)	8.81	9.17	12.51	11.02	23.60	13.95	15.42	12.45	17.13	13.00
Enterprise Value to EBIT (EV/EBIT)	12.35	12.25	15.93	14.27	36.58	17.49	18.96	15.79	23.41	16.79
Enterprise Value to NOPAT (EV/NOPAT)	16.06	15.93	30.76	13.13	11.77	21.57	25.26	21.04	27.30	21.79
Enterprise Value to Operating Cash Flow (EV/OCF)	12.23	11.30	16.10	19.11	15.94	18.80	19.25	17.80	23.07	19.14
Enterprise Value to Free Cash Flow (EV/FCFF)	12.03	25.30	0.00	23.36	14.68	72.33	0.00	24.01	37.52	21.23
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.10	1.40	1.51	2.06	1.61	1.43	1.61	1.53	1.52	1.36
Long-Term Debt to Equity	1.00	0.77	1.26	1.85	1.25	1.38	1.45	1.23	1.23	1.11
Financial Leverage	0.91	1.05	1.24	1.54	1.58	1.32	1.41	1.49	1.43	1.32
Leverage Ratio	4.22	4.51	4.84	5.15	4.94	4.30	4.12	4.02	3.88	3.74
Compound Leverage Factor	3.67	4.01	4.37	4.66	3.79	3.93	3.85	3.71	3.32	3.33
Debt to Total Capital	52.30%	58.27%	60.19%	67.31%	61.70%	58.77%	61.73%	60.42%	60.39%	57.69%
Short-Term Debt to Total Capital	4.71%	26.11%	10.10%	6.66%	14.00%	1.80%	6.34%	11.66%	11.58%	10.84%
Long-Term Debt to Total Capital	47.59%	32.16%	50.09%	60.64%	47.70%	56.98%	55.40%	48.76%	48.81%	46.85%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	47.70%	41.73%	39.81%	32.69%	38.30%	41.23%	38.27%	39.58%	39.61%	42.31%
Debt to EBITDA	1.61	1.80	1.90	2.48	3.85	2.09	2.38	2.26	2.92	2.28
Net Debt to EBITDA	1.37	1.53	1.63	2.18	3.34	1.84	2.25	2.14	2.72	2.04
Long-Term Debt to EBITDA	1.47	0.99	1.58	2.23	2.97	2.03	2.13	1.82	2.36	1.85
Debt to NOPAT	2.93	3.13	4.68	2.95	1.92	3.23	3.89	3.81	4.65	3.82
Net Debt to NOPAT	2.49	2.66	4.02	2.60	1.67	2.85	3.69	3.61	4.34	3.42
Long-Term Debt to NOPAT	2.67	1.73	3.89	2.66	1.48	3.13	3.49	3.08	3.76	3.10
Altman Z-Score	3.61	3.50	3.80	3.62	3.69	4.05	3.91	3.80	3.74	3.84
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.22	0.95	1.14	1.15	1.04	1.25	1.07	0.99	1.04	1.08
Quick Ratio	0.77	0.60	0.71	0.71	0.65	0.77	0.62	0.55	0.60	0.63
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	482	260	-43	375	810	195	-719	713	508	846
Operating Cash Flow to CapEx	369.50%	345.67%	349.97%	210.72%	352.79%	390.89%	412.29%	348.44%	312.52%	450.91%
Free Cash Flow to Firm to Interest Expense	7.96	4.34	-0.68	6.40	10.69	2.79	-10.25	8.47	4.27	7.23
Operating Cash Flow to Interest Expense	7.83	9.72	10.25	7.83	9.85	10.73	14.91	11.43	6.94	8.02
Operating Cash Flow Less CapEx to Interest Expense	5.71	6.91	7.32	4.11	7.06	7.99	11.29	8.15	4.72	6.24
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.41	1.43	1.39	1.39	1.33	1.20	1.20	1.14	1.04	1.05
Accounts Receivable Turnover	6.21	6.19	6.06	6.04	5.89	5.70	6.32	6.46	6.00	6.08
Inventory Turnover	8.90	8.79	8.51	8.32	7.86	7.32	7.50	6.92	6.31	6.56
Fixed Asset Turnover	6.93	6.90	6.57	6.41	6.02	5.46	5.96	5.99	5.28	5.45
Accounts Payable Turnover	5.36	5.30	5.19	5.15	4.93	4.77	5.19	5.03	4.65	4.76
Days Sales Outstanding (DSO)	58.81	58.94	60.19	60.42	62.00	64.07	57.73	56.51	60.86	60.05
Days Inventory Outstanding (DIO)	40.99	41.51	42.90	43.89	46.43	49.90	48.63	52.73	57.89	55.67
Days Payable Outstanding (DPO)	68.10	68.91	70.28	70.92	74.07	76.53	70.35	72.56	78.45	76.75
Cash Conversion Cycle (CCC)	31.70	31.54	32.81	33.38	34.37	37.43	36.01	36.68	40.30	38.97
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,863	2,016	2,397	2,689	2,890	3,349	4,866	4,967	5,157	5,135
Invested Capital Turnover	3.10	3.14	3.00	2.81	2.53	2.23	2.05	1.84	1.65	1.70
Increase / (Decrease) in Invested Capital	-121	153	381	292	201	460	1,517	101	190	-22
Enterprise Value (EV)	5,796	6,577	10,396	8,753	11,900	14,123	20,148	17,109	19,052	17,969
Market Capitalization	4,896	5,479	9,039	7,018	10,214	12,259	17,206	14,174	16,023	15,146
Book Value per Share	$10.60	$10.40	$11.88	$11.01	$14.42	$17.80	$23.24	$25.10	$26.42	$28.78
Tangible Book Value per Share	$2.57	$0.73	($1.20)	($1.51)	$1.76	$1.48	($10.49)	($8.28)	($9.12)	($5.22)
Total Capital	2,025	2,218	2,628	2,921	3,144	3,602	5,029	5,134	5,372	5,465
Total Debt	1,059	1,293	1,582	1,966	1,940	2,117	3,105	3,102	3,244	3,152
Total Long-Term Debt	964	713	1,316	1,772	1,499	2,052	2,786	2,504	2,622	2,560
Net Debt	900	1,097	1,357	1,734	1,686	1,865	2,942	2,935	3,029	2,823
Capital Expenditures (CapEx)	128	168	185	217	212	192	254	276	264	208
Debt-free, Cash-free Net Working Capital (DFCFNWC)	253	285	307	267	273	303	343	414	504	479
Debt-free Net Working Capital (DFNWC)	412	480	532	499	527	555	506	581	719	808
Net Working Capital (NWC)	316	-100	266	304	87	490	187	-18	97	216
Net Nonoperating Expense (NNE)	87	92	56	199	707	99	58	56	195	120
Net Nonoperating Obligations (NNO)	898	1,091	1,351	1,734	1,686	1,865	2,942	2,935	3,029	2,823
Total Depreciation and Amortization (D&A)	188	180	179	181	179	205	244	291	298	312
Debt-free, Cash-free Net Working Capital to Revenue	4.24%	4.67%	4.64%	3.72%	3.87%	4.34%	4.08%	4.58%	6.02%	5.47%
Debt-free Net Working Capital to Revenue	6.90%	7.88%	8.04%	6.96%	7.45%	7.96%	6.01%	6.43%	8.59%	9.23%
Net Working Capital to Revenue	5.30%	-1.63%	4.02%	4.25%	1.23%	7.03%	2.22%	-0.20%	1.15%	2.47%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$5.35	$3.61	$6.67	$8.93	$9.28	$6.23	$8.77
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	87.30M	84M	83.40M	82.90M	81.60M	80.70M	80.40M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$5.28	$3.57	$6.61	$8.83	$9.21	$6.20	$8.73
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	88.60M	85M	84.10M	83.80M	82.20M	81.10M	80.70M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	83.98M	83.30M	83.04M	82.46M	80.82M	80.51M	78.99M
Normalized Net Operating Profit after Tax (NOPAT)	361	413	495	667	577	655	798	813	698	825
Normalized NOPAT Margin	6.05%	6.78%	7.48%	9.31%	8.16%	9.39%	9.49%	9.00%	8.34%	9.42%
Pre Tax Income Margin	6.85%	7.84%	8.91%	7.75%	3.53%	10.58%	11.81%	11.06%	8.31%	10.89%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.76	8.96	10.36	10.48	4.29	11.53	15.14	12.88	6.84	9.15
NOPAT to Interest Expense	5.96	6.89	5.36	11.40	13.34	9.36	11.36	9.67	5.86	7.05
EBIT Less CapEx to Interest Expense	5.64	6.15	7.43	6.77	1.50	8.79	11.52	9.60	4.62	7.37
NOPAT Less CapEx to Interest Expense	3.85	4.08	2.44	7.68	10.54	6.61	7.75	6.39	3.64	5.27
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	48.52%	44.43%	55.18%	37.44%	62.48%	35.40%	29.81%	31.55%	51.03%	39.37%
Augmented Payout Ratio	133.21%	126.26%	101.21%	121.50%	140.78%	54.16%	54.25%	81.68%	78.37%	74.48%

This table displays calculated financial ratios and metrics derived from Avery Dennison's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	11.84%	-7.21%	-12.10%	-10.93%	-9.44%	4.18%	4.18%	6.93%	4.06%	3.56%
EBITDA Growth	20.18%	-21.21%	-26.10%	-35.56%	-20.51%	16.25%	27.45%	40.67%	19.50%	13.14%
EBIT Growth	21.16%	-27.39%	-32.70%	-44.25%	-26.59%	20.66%	35.08%	55.49%	24.91%	16.99%
NOPAT Growth	23.66%	-28.05%	-28.84%	-27.70%	-16.59%	35.79%	31.17%	27.92%	8.61%	8.86%
Net Income Growth	34.98%	-32.73%	-38.85%	-53.19%	-37.56%	16.44%	42.24%	76.10%	31.38%	21.59%
EPS Growth	37.76%	-30.73%	-37.66%	-52.49%	-36.67%	16.56%	42.95%	75.81%	31.58%	23.30%
Operating Cash Flow Growth	-22.80%	21.76%	-98.49%	-29.31%	46.11%	-9.80%	6,205.26%	4.27%	-16.27%	12.60%
Free Cash Flow Firm Growth	100.96%	102.70%	96.76%	87.35%	196.79%	-113.32%	501.81%	251.49%	-1.40%	4,790.90%
Invested Capital Growth	4.61%	2.07%	3.89%	6.78%	3.10%	3.83%	0.15%	-0.87%	3.34%	-0.42%
Revenue Q/Q Growth	-1.27%	-12.57%	1.93%	1.23%	0.37%	0.58%	1.93%	3.90%	-2.32%	0.11%
EBITDA Q/Q Growth	-4.24%	-27.48%	0.68%	-7.83%	18.12%	6.05%	10.38%	1.73%	0.35%	0.40%
EBIT Q/Q Growth	-4.86%	-34.73%	1.56%	-11.61%	25.28%	7.28%	13.71%	1.75%	0.64%	0.48%
NOPAT Q/Q Growth	1.24%	-41.78%	9.70%	11.83%	16.79%	-5.22%	2.88%	9.06%	-0.84%	-5.00%
Net Income Q/Q Growth	3.26%	-44.51%	-1.38%	-17.16%	37.75%	3.47%	20.48%	2.55%	2.77%	-4.24%
EPS Q/Q Growth	3.45%	-44.07%	-1.32%	-16.78%	37.90%	2.92%	21.02%	2.35%	3.21%	-3.56%
Operating Cash Flow Q/Q Growth	-17.67%	56.61%	-99.45%	9,878.95%	70.15%	-3.32%	-61.59%	65.03%	36.62%	30.03%
Free Cash Flow Firm Q/Q Growth	100.99%	164.58%	-231.02%	-267.03%	123.33%	-111.87%	24,333.40%	38.38%	-84.82%	464.87%
Invested Capital Q/Q Growth	0.16%	-0.89%	5.71%	1.77%	-3.30%	-0.20%	1.97%	0.73%	0.81%	-3.83%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	26.72%	24.69%	26.26%	26.47%	27.92%	28.24%	29.39%	29.65%	28.70%	27.87%
EBITDA Margin	15.78%	13.09%	12.93%	11.77%	13.85%	14.61%	15.82%	15.49%	15.91%	15.96%
Operating Margin	12.45%	9.27%	10.07%	11.18%	12.44%	12.37%	12.41%	12.92%	12.81%	12.81%
EBIT Margin	12.68%	9.46%	9.43%	8.23%	10.28%	10.96%	12.23%	11.97%	12.33%	12.38%
Profit (Net Income) Margin	9.56%	6.07%	5.87%	4.80%	6.59%	6.78%	8.01%	7.91%	8.32%	7.96%
Tax Burden Percent	81.28%	72.64%	72.01%	71.61%	74.92%	70.98%	73.55%	74.16%	75.93%	72.08%
Interest Burden Percent	92.78%	88.26%	86.44%	81.46%	85.62%	87.16%	89.13%	89.09%	88.86%	89.21%
Effective Tax Rate	18.72%	27.36%	27.99%	28.39%	25.08%	29.02%	26.45%	25.84%	24.07%	27.92%
Return on Invested Capital (ROIC)	18.98%	12.39%	12.32%	13.16%	15.16%	14.51%	14.68%	15.48%	16.07%	15.70%
ROIC Less NNEP Spread (ROIC-NNEP)	18.55%	11.92%	11.42%	11.06%	13.29%	13.09%	13.91%	14.30%	15.06%	14.76%
Return on Net Nonoperating Assets (RNNOA)	29.22%	17.71%	18.18%	17.90%	19.94%	18.77%	20.52%	21.07%	20.44%	19.45%
Return on Equity (ROE)	48.21%	30.10%	30.50%	31.05%	35.09%	33.28%	35.20%	36.55%	36.51%	35.15%
Cash Return on Invested Capital (CROIC)	13.16%	14.49%	10.81%	6.82%	9.70%	10.03%	14.03%	15.75%	12.11%	16.45%
Operating Return on Assets (OROA)	14.56%	10.74%	10.09%	8.55%	10.52%	11.34%	12.54%	12.42%	12.91%	13.05%
Return on Assets (ROA)	10.98%	6.89%	6.28%	4.99%	6.75%	7.02%	8.22%	8.21%	8.71%	8.39%
Return on Common Equity (ROCE)	48.21%	30.10%	30.50%	31.05%	35.09%	33.28%	35.20%	36.55%	36.51%	35.15%
Return on Equity Simple (ROE_SIMPLE)	40.70%	0.00%	33.29%	28.09%	23.40%	0.00%	25.15%	27.57%	28.15%	0.00%
Net Operating Profit after Tax (NOPAT)	234	136	150	167	196	185	196	214	212	202
NOPAT Margin	10.12%	6.74%	7.25%	8.01%	9.32%	8.78%	9.13%	9.58%	9.73%	9.23%
Net Nonoperating Expense Percent (NNEP)	0.43%	0.46%	0.90%	2.10%	1.87%	1.42%	0.77%	1.18%	1.01%	0.95%
Return On Investment Capital (ROIC_SIMPLE)	-	2.66%	-	-	-	3.45%	-	-	-	3.69%
Cost of Revenue to Revenue	73.28%	75.31%	73.74%	73.53%	72.08%	71.76%	70.61%	70.35%	71.30%	72.13%
SG&A Expenses to Revenue	14.28%	15.42%	16.19%	15.29%	15.48%	15.87%	16.98%	16.73%	15.89%	15.07%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	14.28%	15.42%	16.19%	15.29%	15.48%	15.87%	16.98%	16.73%	15.89%	15.07%
Earnings before Interest and Taxes (EBIT)	294	192	195	172	216	231	263	268	269	271
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	366	265	267	246	291	308	340	346	347	349
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.40	6.97	6.93	6.77	7.02	7.53	8.13	7.70	7.48	6.55
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.40	1.57	1.62	1.61	1.75	1.92	2.12	2.05	2.06	1.73
Price to Earnings (P/E)	15.72	18.72	20.82	24.11	30.01	31.85	32.32	27.93	26.56	21.49
Dividend Yield	1.81%	1.67%	1.71%	1.81%	1.74%	1.60%	1.46%	1.51%	1.52%	1.83%
Earnings Yield	6.36%	5.34%	4.80%	4.15%	3.33%	3.14%	3.09%	3.58%	3.76%	4.65%
Enterprise Value to Invested Capital (EV/IC)	3.16	3.44	3.31	3.18	3.40	3.69	3.99	3.89	3.90	3.50
Enterprise Value to Revenue (EV/Rev)	1.72	1.89	1.98	2.00	2.12	2.28	2.48	2.40	2.40	2.05
Enterprise Value to EBITDA (EV/EBITDA)	10.96	12.45	13.57	14.84	16.46	17.13	17.69	16.04	15.53	13.00
Enterprise Value to EBIT (EV/EBIT)	13.71	15.79	17.57	19.92	22.73	23.41	23.77	21.10	20.22	16.79
Enterprise Value to NOPAT (EV/NOPAT)	18.30	21.04	23.05	24.51	27.10	27.30	28.13	26.06	25.77	21.79
Enterprise Value to Operating Cash Flow (EV/OCF)	17.62	17.80	20.76	22.39	20.46	23.07	22.21	21.66	23.18	19.14
Enterprise Value to Free Cash Flow (EV/FCFF)	24.56	24.01	31.18	48.08	35.63	37.52	28.44	24.62	32.78	21.23
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.56	1.53	1.74	1.76	1.61	1.52	1.47	1.41	1.32	1.36
Long-Term Debt to Equity	1.23	1.23	1.42	1.44	1.26	1.23	0.94	0.89	0.85	1.11
Financial Leverage	1.58	1.49	1.59	1.62	1.50	1.43	1.47	1.47	1.36	1.32
Leverage Ratio	4.21	4.02	4.12	4.14	3.97	3.88	3.88	3.85	3.72	3.74
Compound Leverage Factor	3.90	3.55	3.56	3.37	3.40	3.39	3.46	3.43	3.31	3.34
Debt to Total Capital	60.95%	60.42%	63.53%	63.76%	61.62%	60.39%	59.52%	58.46%	56.89%	57.69%
Short-Term Debt to Total Capital	13.03%	11.66%	11.57%	11.43%	13.32%	11.58%	21.50%	21.29%	20.11%	10.84%
Long-Term Debt to Total Capital	47.92%	48.76%	51.96%	52.33%	48.31%	48.81%	38.02%	37.17%	36.78%	46.85%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	39.05%	39.58%	36.47%	36.24%	38.38%	39.61%	40.48%	41.54%	43.11%	42.31%
Debt to EBITDA	2.17	2.26	2.78	3.10	3.10	2.92	2.73	2.50	2.35	2.28
Net Debt to EBITDA	2.08	2.14	2.51	2.91	2.90	2.72	2.58	2.34	2.20	2.04
Long-Term Debt to EBITDA	1.70	1.82	2.27	2.54	2.43	2.36	1.75	1.59	1.52	1.85
Debt to NOPAT	3.62	3.81	4.72	5.12	5.10	4.65	4.35	4.07	3.91	3.82
Net Debt to NOPAT	3.47	3.61	4.26	4.81	4.78	4.34	4.10	3.80	3.64	3.42
Long-Term Debt to NOPAT	2.84	3.08	3.86	4.20	4.00	3.76	2.78	2.59	2.52	3.10
Altman Z-Score	3.30	3.43	3.33	3.21	3.34	3.51	3.66	3.68	3.70	3.53
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.01	0.99	1.13	1.09	1.03	1.04	0.87	0.90	0.92	1.08
Quick Ratio	0.58	0.55	0.65	0.63	0.60	0.60	0.50	0.53	0.53	0.63
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	14	36	-47	-172	40	-4.77	188	261	40	224
Operating Cash Flow to CapEx	289.38%	364.77%	2.95%	369.59%	568.96%	339.02%	246.00%	417.97%	629.60%	506.78%
Free Cash Flow to Firm to Interest Expense	0.64	1.59	-1.78	-5.39	1.29	-0.16	6.59	8.93	1.32	7.66
Operating Cash Flow to Interest Expense	10.42	15.37	0.07	5.94	10.41	10.50	4.19	6.77	9.00	12.03
Operating Cash Flow Less CapEx to Interest Expense	6.82	11.16	-2.36	4.34	8.58	7.40	2.49	5.15	7.57	9.65
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.15	1.14	1.07	1.04	1.02	1.04	1.03	1.04	1.05	1.05
Accounts Receivable Turnover	6.08	6.46	6.00	5.70	5.50	6.00	5.94	5.84	5.79	6.08
Inventory Turnover	7.08	6.92	6.41	6.34	6.25	6.31	6.01	6.21	6.32	6.56
Fixed Asset Turnover	6.46	5.99	5.75	5.63	5.52	5.28	5.34	5.45	5.48	5.45
Accounts Payable Turnover	5.06	5.03	4.94	4.75	4.61	4.65	4.79	4.80	4.73	4.76
Days Sales Outstanding (DSO)	60.06	56.51	60.88	64.00	66.39	60.86	61.49	62.50	63.09	60.05
Days Inventory Outstanding (DIO)	51.52	52.73	56.92	57.53	58.37	57.89	60.69	58.77	57.73	55.67
Days Payable Outstanding (DPO)	72.14	72.56	73.81	76.84	79.26	78.45	76.13	76.00	77.24	76.75
Cash Conversion Cycle (CCC)	39.45	36.68	43.98	44.68	45.50	40.30	46.05	45.27	43.58	38.97
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,012	4,967	5,251	5,344	5,167	5,157	5,259	5,297	5,340	5,135
Invested Capital Turnover	1.88	1.84	1.70	1.64	1.63	1.65	1.61	1.62	1.65	1.70
Increase / (Decrease) in Invested Capital	221	101	197	340	155	190	8.00	-47	173	-22
Enterprise Value (EV)	15,847	17,109	17,370	16,976	17,593	19,052	20,964	20,623	20,849	17,969
Market Capitalization	12,842	14,174	14,162	13,648	14,489	16,023	17,909	17,613	17,903	15,146
Book Value per Share	$24.70	$25.10	$25.28	$24.96	$25.61	$26.42	$27.38	$28.39	$29.73	$28.78
Tangible Book Value per Share	($8.28)	($8.28)	($8.38)	($10.58)	($9.59)	($9.12)	($7.62)	($6.25)	($4.99)	($5.22)
Total Capital	5,140	5,134	5,602	5,561	5,377	5,372	5,444	5,506	5,553	5,465
Total Debt	3,133	3,102	3,559	3,546	3,314	3,244	3,240	3,219	3,159	3,152
Total Long-Term Debt	2,463	2,504	2,911	2,910	2,598	2,622	2,070	2,047	2,042	2,560
Net Debt	3,005	2,935	3,208	3,328	3,104	3,029	3,055	3,010	2,946	2,823
Capital Expenditures (CapEx)	76	95	64	51	57	92	49	47	43	69
Debt-free, Cash-free Net Working Capital (DFCFNWC)	564	414	643	661	576	504	563	631	640	479
Debt-free Net Working Capital (DFNWC)	692	581	994	878	786	719	749	840	853	808
Net Working Capital (NWC)	23	-18	346	242	70	97	-421	-332	-264	216
Net Nonoperating Expense (NNE)	13	14	29	67	57	42	24	37	31	28
Net Nonoperating Obligations (NNO)	3,005	2,935	3,208	3,328	3,104	3,029	3,055	3,010	2,946	2,823
Total Depreciation and Amortization (D&A)	72	74	72	74	75	77	77	79	78	78
Debt-free, Cash-free Net Working Capital to Revenue	6.13%	4.58%	7.34%	7.78%	6.96%	6.02%	6.67%	7.34%	7.37%	5.47%
Debt-free Net Working Capital to Revenue	7.53%	6.43%	11.35%	10.33%	9.49%	8.59%	8.86%	9.77%	9.82%	9.23%
Net Working Capital to Revenue	0.24%	-0.20%	3.95%	2.85%	0.85%	1.15%	-4.99%	-3.87%	-3.04%	2.47%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.73	$1.51	$1.50	$1.24	$1.72	$1.77	$2.14	$2.19	$2.26	$2.18
Adjusted Weighted Average Basic Shares Outstanding	81.20M	81.60M	80.90M	80.70M	80.60M	80.70M	80.50M	80.60M	80.50M	80.40M
Adjusted Diluted Earnings per Share	$2.70	$1.51	$1.49	$1.24	$1.71	$1.76	$2.13	$2.18	$2.25	$2.17
Adjusted Weighted Average Diluted Shares Outstanding	81.90M	82.20M	81.50M	81M	81M	81.10M	81M	81M	80.80M	80.70M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	80.97M	80.82M	80.73M	80.58M	80.53M	80.51M	80.55M	80.52M	80.35M	78.99M
Normalized Net Operating Profit after Tax (NOPAT)	234	136	150	167	196	185	196	214	212	202
Normalized NOPAT Margin	10.12%	6.74%	7.25%	8.01%	9.32%	8.78%	9.13%	9.58%	9.73%	9.23%
Pre Tax Income Margin	11.76%	8.35%	8.15%	6.71%	8.80%	9.55%	10.90%	10.67%	10.96%	11.04%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	13.85	8.52	7.38	5.40	6.95	7.79	9.20	9.16	8.98	9.27
NOPAT to Interest Expense	11.06	6.07	5.67	5.25	6.31	6.24	6.87	7.33	7.08	6.91
EBIT Less CapEx to Interest Expense	10.25	4.31	4.94	3.79	5.13	4.69	7.49	7.54	7.55	6.89
NOPAT Less CapEx to Interest Expense	7.46	1.85	3.24	3.64	4.48	3.14	5.16	5.72	5.65	4.54
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	28.72%	31.55%	35.80%	43.76%	52.22%	51.03%	47.13%	42.29%	40.40%	39.37%
Augmented Payout Ratio	74.44%	81.68%	76.78%	79.15%	89.08%	78.37%	65.61%	56.36%	59.38%	74.48%

Frequently Asked Questions About Avery Dennison's Financials

When does Avery Dennison's financial year end?

According to the most recent income statement we have on file, Avery Dennison's fiscal year ends in December. Their fiscal year 2024 ended on December 28, 2024.

How has Avery Dennison's net income changed over the last 9 years?

Avery Dennison's net income appears to be on an upward trend, with a most recent value of $704.90 million in 2024, rising from $274.30 million in 2015. The previous period was $503 million in 2023.

What is Avery Dennison's operating income?

Avery Dennison's total operating income in 2024 was $1.12 billion, based on the following breakdown:

Total Gross Profit: $2.53 billion
Total Operating Expenses: $1.42 billion

How has Avery Dennison revenue changed over the last 9 years?

Over the last 9 years, Avery Dennison's total revenue changed from $5.97 billion in 2015 to $8.76 billion in 2024, a change of 46.7%.

How much debt does Avery Dennison have?

Avery Dennison's total liabilities were at $6.09 billion at the end of 2024, a 0.2% increase from 2023, and a 92.3% increase since 2015.

How much cash does Avery Dennison have?

In the past 9 years, Avery Dennison's cash and equivalents has ranged from $158.80 million in 2015 to $329.10 million in 2024, and is currently $329.10 million as of their latest financial filing in 2024.

How has Avery Dennison's book value per share changed over the last 9 years?

Over the last 9 years, Avery Dennison's book value per share changed from 10.60 in 2015 to 28.78 in 2024, a change of 171.5%.

Remove Ads

Related Companies

This page (NYSE:AVY) was last updated on 4/15/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Avery Dennison (AVY) Financials

Frequently Asked Questions About Avery Dennison's Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Avery Dennison (AVY) Financials

Annual Income Statements for Avery Dennison

Quarterly Income Statements for Avery Dennison

Annual Cash Flow Statements for Avery Dennison

Quarterly Cash Flow Statements for Avery Dennison

Annual Balance Sheets for Avery Dennison

Quarterly Balance Sheets for Avery Dennison

Annual Metrics and Ratios for Avery Dennison

Quarterly Metrics and Ratios for Avery Dennison

Frequently Asked Questions About Avery Dennison's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools