Avery Dennison Corporation (AVY) Key Metrics
AVY valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $13.29B
- Enterprise value
- $16.54B
- P/E (TTM)
- 19.2 10-yr median 22.4
- Forward P/E
- 15.3
- PEG ratio
- 1.76
- Price / sales
- 1.4 10-yr median 1.6
- Price / book
- 5.6 10-yr median 8.0
- EV / EBITDA
- 11.4 10-yr median 13.5
- Dividend yield
- 2.28% $4.00 a year
- Beta
- 0.80
AVY key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsAVY valuation Price multiples at each fiscal year-end price.
AVY returns How much profit the business earns on the capital it uses.
AVY per-share figures Results divided by the shares outstanding at year-end.
AVY financial health Debt, liquidity and how easily interest is covered.
AVY efficiency & capital use Working capital cycle and where the cash goes.
AVY valuation history
AVY returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
AVY debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
AVY cash returned to shareholders
AVY price vs earnings per share
AVY key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $14.08B | $15.10B | $16.40B | $14.88B | $18.15B | $13.04B | $11.12B | $7.96B | $10.35B | $6.37B |
| Enterprise value | $17.61B | $17.89B | $19.42B | $17.81B | $21.09B | $14.91B | $12.81B | $9.69B | $11.71B | $7.47B |
| P/E ratio | 20.5 | 21.4 | 32.6 | 19.7 | 24.5 | 23.5 | 36.6 | 17.0 | 36.7 | 19.9 |
| Price / sales | 1.6 | 1.7 | 2.0 | 1.6 | 2.2 | 1.9 | 1.6 | 1.1 | 1.6 | 1.0 |
| Price / book | 6.3 | 6.5 | 7.7 | 7.3 | 9.4 | 8.7 | 9.2 | 8.3 | 9.9 | 6.9 |
| Price / free cash flow | 19.8 | 20.7 | 30.3 | 22.5 | 23.4 | 24.5 | 22.7 | 39.5 | 24.4 | 16.8 |
| Price / operating cash flow | 16.0 | 16.1 | 19.8 | 15.5 | 17.3 | 17.4 | 14.9 | 17.4 | 15.9 | 10.9 |
| EV / sales | 2.0 | 2.0 | 2.3 | 2.0 | 2.5 | 2.1 | 1.8 | 1.4 | 1.8 | 1.2 |
| EV / EBITDA | 12.7 | 12.9 | 17.5 | 13.0 | 16.1 | 14.7 | 25.4 | 12.2 | 14.1 | 10.4 |
| EV / free cash flow | 24.7 | 24.5 | 35.9 | 26.9 | 27.2 | 28.0 | 26.2 | 48.2 | 27.6 | 19.7 |
| Earnings yield | 4.9% | 4.7% | 3.1% | 5.1% | 4.1% | 4.3% | 2.7% | 5.9% | 2.7% | 5.0% |
| Free cash flow yield | 5.1% | 4.8% | 3.3% | 4.5% | 4.3% | 4.1% | 4.4% | 2.5% | 4.1% | 5.9% |
| Dividend yield | 2.0% | 1.8% | 1.6% | 1.6% | 1.2% | 1.5% | 1.7% | 2.2% | 1.5% | 2.2% |
| Shareholder yield (dividends + buybacks) | 6.1% | 3.5% | 2.4% | 4.2% | 2.2% | 2.3% | 3.8% | 7.1% | 2.8% | 6.4% |
| Share price at fiscal year-end | $181.88 | $187.13 | $202.16 | $181.00 | $216.57 | $155.11 | $130.82 | $89.83 | $114.86 | $70.22 |
| Per share | ||||||||||
| Revenue per share | $114.41 | $108.50 | $103.14 | $109.97 | $100.34 | $82.90 | $83.18 | $80.80 | $73.41 | $67.11 |
| Earnings per share | $8.89 | $8.73 | $6.20 | $9.21 | $8.83 | $6.61 | $3.57 | $5.28 | $3.13 | $3.54 |
| Operating cash flow per share | $11.39 | $11.63 | $10.18 | $11.69 | $12.49 | $8.93 | $8.78 | $5.17 | $7.22 | $6.45 |
| Free cash flow per share | $9.20 | $9.05 | $6.67 | $8.06 | $9.24 | $6.33 | $5.76 | $2.27 | $4.71 | $4.18 |
| Cash per share | $2.62 | $4.55 | $2.65 | $2.03 | $1.94 | $3.00 | $2.98 | $2.62 | $2.49 | $2.15 |
| Book value per share | $28.97 | $28.65 | $26.24 | $24.72 | $22.96 | $17.83 | $14.16 | $10.78 | $11.61 | $10.20 |
| Tangible book value per share | −$11.08 | −$5.19 | −$9.06 | −$8.16 | −$10.36 | $1.65 | $1.73 | −$1.48 | −$1.17 | $0.72 |
| Dividends per share | $3.73 | $3.44 | $3.17 | $2.91 | $2.63 | $2.34 | $2.23 | $1.98 | $1.73 | $1.57 |
| Capex per share | $2.18 | $2.59 | $3.52 | $3.63 | $3.25 | $2.60 | $3.03 | $2.90 | $2.51 | $2.28 |
| Debt per share | $48.23 | $39.06 | $40.00 | $37.74 | $37.05 | $25.17 | $22.82 | $22.19 | $17.55 | $14.25 |
| Shares outstanding | 77.4M | 80.7M | 81.1M | 82.2M | 83.8M | 84.1M | 85.0M | 88.6M | 90.1M | 90.7M |
| Change in shares outstanding | −4.1% | −0.5% | −1.3% | −1.9% | −0.4% | −1.1% | −4.1% | −1.7% | −0.7% | −2.4% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 30.2% | 31.8% | 24.2% | 38.3% | 43.2% | 41.1% | 28.1% | 46.7% | 28.6% | 33.9% |
| Return on invested capital (ROIC) | 15.1% | 16.3% | 13.7% | 16.5% | 18.9% | 21.2% | 29.4% | 26.9% | 17.0% | 20.7% |
| Return on assets (ROA) | 8.0% | 8.5% | 6.2% | 9.5% | 10.5% | 9.6% | 5.7% | 9.1% | 5.9% | 7.5% |
| Return on tangible assets | 12.1% | 12.4% | 9.4% | 14.4% | 14.3% | 11.7% | 6.9% | 11.4% | 7.1% | 9.1% |
| Free cash flow margin | 8.0% | 8.3% | 6.5% | 7.3% | 9.2% | 7.6% | 6.9% | 2.8% | 6.4% | 6.2% |
| Income quality (OCF / net income) | 1.28 | 1.33 | 1.64 | 1.27 | 1.41 | 1.35 | 2.46 | 0.98 | 2.31 | 1.83 |
| Financial health | ||||||||||
| Total debt | $3.73B | $3.15B | $3.24B | $3.10B | $3.10B | $2.12B | $1.94B | $1.97B | $1.58B | $1.29B |
| Cash & short-term investments | $202.8M | $367.2M | $215.0M | $167.2M | $162.7M | $252.3M | $253.7M | $232.0M | $224.4M | $195.1M |
| Net debt | $3.53B | $2.79B | $3.03B | $2.93B | $2.94B | $1.86B | $1.69B | $1.73B | $1.36B | $1.10B |
| Debt / equity | 1.66 | 1.36 | 1.52 | 1.53 | 1.61 | 1.41 | 1.61 | 2.06 | 1.51 | 1.40 |
| Debt / assets | 0.42 | 0.38 | 0.40 | 0.39 | 0.39 | 0.35 | 0.35 | 0.38 | 0.31 | 0.29 |
| Net debt / EBITDA | 2.54 | 2.01 | 2.72 | 2.14 | 2.25 | 1.84 | 3.34 | 2.18 | 1.64 | 1.53 |
| Current ratio | 1.13 | 1.08 | 1.04 | 0.99 | 1.07 | 1.25 | 1.04 | 1.15 | 1.13 | 0.95 |
| Quick ratio | 0.76 | 0.73 | 0.69 | 0.63 | 0.72 | 0.88 | 0.74 | 0.83 | 0.83 | 0.69 |
| Interest coverage | 8.2 | 9.6 | 8.0 | 12.7 | 14.8 | 12.5 | 10.8 | 13.8 | 11.9 | 10.0 |
| Working capital | $336.7M | $216.1M | $96.5M | −$17.8M | $186.7M | $490.2M | $86.8M | $304.0M | $266.1M | −$99.5M |
| Invested capital | $5.77B | $5.10B | $5.16B | $4.97B | $4.87B | $3.36B | $2.89B | $2.69B | $2.40B | $2.02B |
| Tangible asset value | −$857.9M | −$413.5M | −$734.8M | −$670.5M | −$868.5M | $138.6M | $146.7M | −$130.7M | −$105.2M | $65.2M |
| Net current asset value | −$3.57B | −$3.01B | −$3.29B | −$3.14B | −$3.31B | −$2.18B | −$1.94B | −$1.92B | −$1.85B | −$1.57B |
| Graham number | $76.12 | $75.04 | $60.51 | $71.58 | $67.55 | $51.50 | $33.74 | $35.77 | $28.59 | $28.49 |
| Graham net-net per share | −$61.25 | −$51.18 | −$53.58 | −$51.28 | −$52.06 | −$36.41 | −$32.83 | −$31.29 | −$29.70 | −$24.98 |
| Capital allocation | ||||||||||
| Dividends paid | $288.4M | $277.5M | $256.7M | $238.9M | $220.6M | $196.8M | $189.7M | $175.0M | $155.5M | $142.5M |
| Share buybacks (net) | $572.3M | $255.9M | $137.5M | $379.5M | $180.9M | $104.3M | $237.7M | $392.9M | $129.7M | $262.4M |
| Dividend payout ratio | 41.9% | 39.4% | 51.0% | 31.6% | 29.8% | 35.4% | 62.5% | 37.4% | 55.2% | 44.4% |
| Dividends + buybacks / free cash flow | 120.8% | 73.1% | 72.9% | 93.3% | 51.8% | 56.5% | 87.3% | 282.1% | 67.3% | 106.9% |
| Capex / revenue | 1.9% | 2.4% | 3.4% | 3.3% | 3.2% | 3.1% | 3.6% | 3.6% | 3.4% | 3.4% |
| Capex / operating cash flow | 19.2% | 22.2% | 34.5% | 31.1% | 26.0% | 29.1% | 34.5% | 56.0% | 34.8% | 35.3% |
| Capex / depreciation | 0.51 | 0.67 | 0.96 | 1.03 | 1.11 | 1.06 | 1.44 | 1.42 | 1.27 | 1.15 |
| Stock-based compensation / revenue | 0.3% | 0.3% | 0.3% | 0.5% | 0.4% | 0.3% | 0.5% | 0.5% | 0.5% | 0.4% |
| R&D / revenue | 1.5% | 1.6% | 1.6% | 1.5% | 1.6% | 1.6% | 1.3% | 1.4% | 1.4% | 1.5% |
| SG&A / revenue | 16.1% | 14.6% | 14.1% | 13.2% | 13.2% | 15.2% | 13.9% | 14.8% | 17.0% | 18.0% |
| Efficiency | ||||||||||
| Days sales outstanding | 61.2 | 60.1 | 60.9 | 56.5 | 57.7 | 64.1 | 62.0 | 60.4 | 60.2 | 58.9 |
| Days of inventory on hand | 56.5 | 55.6 | 57.9 | 52.7 | 48.6 | 49.9 | 46.4 | 43.8 | 42.9 | 41.5 |
| Days payables outstanding | 75.3 | 76.7 | 78.4 | 72.5 | 70.3 | 73.9 | 71.5 | 70.8 | 70.3 | 68.9 |
| Cash conversion cycle (days) | 42.5 | 39.0 | 40.3 | 36.7 | 36.0 | 40.0 | 36.9 | 33.4 | 32.8 | 31.5 |
| Receivables turnover | 5.96 | 6.08 | 6.00 | 6.46 | 6.32 | 5.70 | 5.89 | 6.04 | 6.06 | 6.19 |
| Payables turnover | 4.85 | 4.76 | 4.66 | 5.03 | 5.19 | 4.94 | 5.10 | 5.15 | 5.19 | 5.30 |
| Inventory turnover | 6.46 | 6.56 | 6.31 | 6.93 | 7.51 | 7.32 | 7.86 | 8.33 | 8.51 | 8.79 |
| Asset turnover | 1.03 | 1.05 | 1.04 | 1.14 | 1.20 | 1.20 | 1.33 | 1.39 | 1.39 | 1.43 |
| Average receivables | $1.49B | $1.44B | $1.39B | $1.40B | $1.33B | $1.22B | $1.20B | $1.19B | $1.09B | $982.9M |
| Average payables | $1.30B | $1.31B | $1.31B | $1.32B | $1.17B | $1.02B | $1.01B | $1.02B | $924.5M | $828.2M |
| Average inventory | $977.0M | $949.4M | $965.3M | $958.5M | $812.2M | $690.1M | $657.2M | $630.5M | $564.4M | $498.9M |
| Intangibles / total assets | 35.2% | 32.5% | 34.9% | 34.0% | 35.0% | 22.3% | 19.3% | 21.0% | 22.4% | 19.6% |
Computed from AVY's annual financial statements (latest annual report filed February 25, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
AVY valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Avery Dennison traded at 20.5 times earnings, against a 10-year median of 22.4. Based on the latest twelve months, the trailing P/E is 19.2 and the forward P/E is 15.3. Avery Dennison earned a return on equity of 30.2% and a return on invested capital of 15.1% in fiscal 2025. It ended the year with $3.7 billion of debt and $202.8 million in cash and short-term investments, net debt of $3.5 billion. It returned $860.7 million to shareholders: $288.4 million in dividends and $572.3 million in share buybacks, 121% of free cash flow. The share count fell 14.7% from 90.7M to 77.4M over 9 years.
See the AVY income statement, the AVY chart for price history, or the AVY stock overview for the latest quote and news.
AVY key metrics FAQ
What is Avery Dennison's P/E ratio?
Avery Dennison's trailing P/E ratio is 19.2 based on the last twelve months of earnings (as of October 17, 2026), and its forward P/E is 15.3. At the end of fiscal 2025 it was 20.5, compared with a 10-year median of 22.4.
What is Avery Dennison's EV/EBITDA?
Avery Dennison's enterprise value was 12.7 times EBITDA at the end of fiscal 2025 (enterprise value $17.6 billion, EBITDA $1.4 billion); the current EV/EBITDA is 11.4.
What is Avery Dennison's return on equity?
Avery Dennison's return on equity (ROE) was 30.2% in fiscal 2025: net income of $688.0 million on average shareholders' equity of $2.3 billion.
What is Avery Dennison's ROIC?
Avery Dennison's return on invested capital was 15.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Avery Dennison have?
Avery Dennison had total debt of $3.7 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.66 and $3.5 billion of net debt (2.54 times EBITDA).
What is Avery Dennison's dividend yield?
Avery Dennison's forward dividend yield is 2.28%. Avery Dennison paid $288.4 million in dividends in fiscal 2025 ($3.73 per share), a payout ratio of 41.9%.
Does Avery Dennison buy back its shares?
Yes. Avery Dennison spent $572.3 million on net share repurchases in fiscal 2025 Shares outstanding changed −4.1% over the year, to 77.4M..
What is Avery Dennison's free cash flow yield?
Avery Dennison generated $712.4 million of free cash flow in fiscal 2025, a free cash flow yield of 5.1% on its market value at year-end ($14.1 billion).
What is Avery Dennison's current ratio?
Avery Dennison's current ratio was 1.13 at the end of fiscal 2025: current assets were 1.13 times current liabilities.