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Earnings transcript
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AVY
Avery Dennison Corporation
$159.35
6.34
(4.14%)
| Exchange: | NYSE |
| Market Cap: | 12.189B |
| Shares Outstanding: | 79.388M |
Delayed data
About The Company
| Sector: | Consumer Cyclical | |||||
| Industry: | Packaging & Containers | |||||
| CEO: | Deon Stander | |||||
| Full Time Employees: | 35000 | |||||
| Address: |
| |||||
| Website: | https://www.averydennison.com |
Avery Dennison Corporation, headquartered in Glendale, California, is a global enterprise specializing in the manufacturing and distribution of innovative pressure-sensitive materials and related product solutions. Its extensive operations cover regions across the United States, Europe, Asia, and Latin America. The company’s business activities are structured into three main divisions: 1. Label and Graphic Materials: This segment provides a broad portfolio of pressure-sensitive label and packaging materials, alongside various graphic and reflective products. Prominent brands under this division include Fasson, JAC, Avery Dennison, and Mactac, offering durable cast and reflective films. These materials serve a wide array of industries, including home and personal care, food, beverages (including beer, wine, and spirits), durable goods, and pharmaceuticals. Additionally, they are crucial for architectural, commercial signage, digital printing, construction, automotive, and fleet transportation applications, as well as traffic and safety solutions, catering to sign shops, commercial printers, and designers. 2. Retail Branding and Information Solutions: This division focuses on designing, producing, and selling brand embellishments, graphic tickets, tags, labels, and sustainable packaging. It also offers creative services, advanced radio-frequency identification (RFID) products, visibility and loss prevention systems, price ticketing and marking solutions, and tools for ensuring compliance with care, content, and country of origin regulations. Furthermore, it provides robust brand protection and security solutions. Its customer base includes retailers, brand owners, apparel manufacturers, distributors, and various industrial clients. 3. Industrial and Healthcare Materials: Within this segment, Avery Dennison supplies an assortment of tapes, pressure-sensitive adhesive-based materials, converted products, medical fasteners, and high-performance polymers under brands like Fasson, Avery Dennison, and Yongle. These specialized offerings are vital to a range of sectors, including automotive, electronics, building and construction, general industrial applications, personal care, and medical markets. The company was founded in 1935 and was initially known as Avery International Corporation, before officially changing its name to Avery Dennison Corporation in 1990.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 8,364,299.999 | 8,755,700 | 8,855,500 |
| Gross Profit | 2,274,100 | 2,527,500 | 2,546,300 |
| EBITDA | 1,112,100 | 1,382,700 | 1,303,199.999 |
| Operating Income | 954,900 | 1,127,400 | 1,103,900 |
| Net Income | 503,000 | 704,900 | 688,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 8,209,800 | 8,404,200 | 8,801,700 |
| Total Liabilities | 6,081,900 | 6,086,200 | 6,559,600 |
| Total Stockholders Equity | 2,127,900 | 2,312,300 | 2,242,100 |
| Total Debt | 3,244,300 | 3,152,200 | 3,732,900 |
| Cash and Cash Equivalents | 215,000 | 329,100 | 202,800 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 826,000 | 938,800 | 881,400 |
| Capital Expenditure | -285,100 | -208,800 | -169,000 |
| Free Cash Flow | 540,900 | 730,000 | 712,400 |
| Net Income | 503,000 | 704,900 | 688,000 |
| Net Change in Cash | 47,800 | 114,100 | -126,300 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2028 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 10,028,175.066 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 10,058,298.678 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 10,043,236.872 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 1,495,169.673 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 1,499,661.009 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 1,497,415.341 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 914,710.889 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 1,043,624.461 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 979,167.675 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 1,433,949.906 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 1,438,257.345 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 1,436,103.625 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 12.420 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 13.480 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 11.820 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 7 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 5 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Solid Financial Performance: Avery Dennison reported a 2% year-over-year increase in earnings for Q3 2025, as highlighted in the earnings call transcript. Key metrics such as revenue, net income, and operating income reflect consistent operational efficiency, supported by positive free cash flow trends from the cash flow statements.
- Focus on High-Value Categories: The earnings call emphasized a strategic shift toward high-value product categories, driving margin improvements. This focus on innovation aligns with industry trends in the Materials Solutions sector, enhancing competitive positioning.
- Strong Balance Sheet Metrics: The balance sheet data indicates a healthy level of cash and cash equivalents relative to total current liabilities, with a manageable debt-to-equity ratio (per Key Metrics TTM). This financial stability supports sustained investment in growth initiatives.
- Operational Resilience: The earnings call summary underscores Avery Dennison’s ability to navigate market challenges through cost management and operational adjustments, maintaining profitability despite external pressures.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates AVY intrinsic value between $132.94 – $186.17 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
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Common questions about AVY valuation
Is Avery Dennison Corporation (AVY) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Avery Dennison Corporation (AVY) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is AVY a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether AVY trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is AVY’s P/E ratio?
You can see AVY’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for AVY?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is AVY a good long-term investment?
Whether AVY fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
AVY
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Daily snapshot
4.14
Trading Metrics:
| Open: | 154.26 | Previous Close: | 153.01 | |
| Day Low: | 153.71 | Day High: | 159.37 | |
| Year Low: | 152.42 | Year High: | 199.54 | |
| Price Avg 50: | 163.92 | Price Avg 200: | 173.18 | |
| Volume: | 895195 | Average Volume: | 671177 |
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Login — it's freeAVY full analysis
Welcome to MARKETSNAP’s SWOT analysis for Avery Dennison, a company that might not be a household name for everyone but plays a critical role in the world of materials and labeling solutions. If you’re a long-term investor looking to diversify your portfolio with a solid industrial player, stick around because we’re diving deep into what makes Avery Dennison tick, from their latest financials to market trends that could shape their future. Let’s break it down with a comprehensive SWOT analysis,…
