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Makes pressure-sensitive adhesive materials, labels and RFID tags used on packaging, apparel and retail products.
Makes pressure-sensitive adhesive materials, labels and RFID tags used on packaging, apparel and retail products.
Makes rolls of adhesive-backed label material that converters print and apply to packaging, with prices tracking paper, film and chemical costs, so volume matters more than price. The RFID tags it supplies to apparel retailers are a smaller line, tied to retailers' inventory-tracking programs.
Moat: narrow (scale, switching costs, IP / patents). Global materials-science scale and embedded supply relationships with major brand-owners and retailers.
Headquarters: Mentor, Ohio, United States · Founded: 1935 · Employees: 35,000
Size Avery Dennison (AVY) is a United States Materials company (Pulp & Paper) with a market value of $14.1B, the 627th largest of 3,117 United States companies the cockpit tracks. Shares closed at $186.78 on 6 Nov 2026.
Performance Over six months the shares gained 14.2%, against +2.7% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd highest of 7 in its peer set.
Growth Revenue grew 6.8% over the last twelve months (peer median -1.1%); the operating margin is 13.1% (peer median 8.5%).
Valuation It trades at 17.4× forward earnings against a peer median of 17.5× (4th cheapest of 7).
Price implies For today's price to make sense, revenue must grow about 2% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 8.9 points above its cost of capital (8.1% WACC).
Credit Avery Dennison has 7 bonds outstanding ($3.16B), rated BBB by the agencies and trading like BBB at a weighted spread of 96 bp.
Short interest Short interest is 2.9% of the free float (15 Oct 2026).
Next results Next results expected around 3 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $9.36B | $8.86B | $8.76B | $8.36B | $9.04B |
| Revenue growth | — | +1% | +5% | -7% | — |
| Gross profit | $2.70B | $2.55B | $2.53B | $2.27B | $2.40B |
| EBITDA | $1.56B | $1.45B | $1.44B | $1.25B | $1.36B |
| Net income | $708M | $688M | $705M | $503M | $757M |
| Free cash flow | $1.04B | $712M | $730M | $561M | $683M |
| Capital expenditure | $211M | $200M | $240M | $285M | $298M |
| Total debt | $3.62B | $3.95B | $3.38B | $3.44B | $3.26B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Avery Dennison AVY | $14.1B | +14% | +7% | 13% | 17.4× | 1.9% |
| 3M MMM | $95.7B | +30% | +2% | 21% | 19.2× | 11.3% |
| CCL Industries CCL-B.TO | $11.8B | +17% | +5% | 15% | 18.7× | 1.3% |
| Lintec 7966.T | $1.87B | -14% | +3% | 8% | 12.2× | 1.5% |
| Brady BRC | $3.69B | 0% | +10% | 16% | 12.0× | 1.0% |
| Nitto Denko 6988.T | $13.2B | +10% | +7% | 18% | 15.1× | 2.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AVY | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +11.4% | +3.7% | 2nd highest of 7 |
| 6-month return | +14.2% | +2.7% | 2nd highest of 7 |
| Distance from 52-week high | -5.9% | -19.1% | 2nd highest of 7 |
| Revenue growth (TTM) | +6.8% | -1.1% | 2nd highest of 7 |
| Operating margin | 13.1% | 8.5% | 2nd highest of 7 |
| Forward P/E | 17.4× | 17.5× | 4th cheapest of 7 |
| Growth the price implies (Req g, 7 yrs) | 1.9% | 7.7% | least demanding of 6 |
| Growth delivered (Del g) | +4.9% | +6.1% | 3rd lowest of 6 |
| Hurdle (Req g minus delivered) | -3.0 pp | +3.8 pp | 2nd least demanding of 6 |
| ROIC minus cost of capital | +8.9 pp | -2.4 pp | highest of 7 |
| EV / EBITDA | 11.1× | 11.9× | 3rd cheapest of 6 |
| Net debt / EBITDA | 2.1× | 3.4× | 2nd least indebted of 6 |
| Bond spread | 96 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Avery Dennison AVY | United States | $14.1B | +14% | +7% | 13% | 17.4× | 1.9% | +4.9% |
| UPM-Kymmene UPM.HE | Finland | $13.3B | -11% | -6% | 8% | 18.2× | 6.1% | +2.3% |
| Suzano S.A. Sponsored ADR SUZ | United States | $12.0B | +9% | +1% | 19% | 16.9× | 3.2% | +8.7% |
| International Paper IP | United States | $18.3B | +6% | +3% | 3% | 15.8× | 26.4% | +6.1% |
| Svenska Cellulosa AB SCA SCA-A.ST | Sweden | $8.72B | +21% | -3% | 6% | 33.7× | 30.3% | +2.1% |
| Shandong Sunpaper 002078.SZ | China | $6.02B | -4% | +9% | 11% | 10.4× | n/a | n/a |
| Holmen HOLM-A.ST | Sweden | $4.73B | -1% | -5% | 9% | 22.2× | 7.7% | +6.2% |
Avery Dennison has 7 bonds outstanding with $3.16B face value. The agencies rate it BBB; its bonds trade like BBB. Weighted yield 5.07%, a spread of 96 bp over government bonds.