Avery Dennison Corporation (AVY) Financial Ratios
30 years of historical data (1996–2025) · Industrials · Business Equipment & Supplies
EV/EBITDA
↓
11.62
↓-18% vs avg
5yr avg: 14.12
30Y Low6.6·High16.4
P/FCF
↓
17.00
↓-27% vs avg
5yr avg: 23.36
30Y Low8.1·High90.4
P/B Ratio
↓
5.44
↓-27% vs avg
5yr avg: 7.46
30Y Low1.8·High9.9
ROE
↓
30.2%
-10% vs avg
5yr avg: 33.5%
30Y Low-48%·High47%
Debt/EBITDA
↑
2.77
+13% vs avg
5yr avg: 2.45
30Y Low1.0·High3.0
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
AVY Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Avery Dennison Corporation trades at 17.9x earnings, 25% below its 5-year average of 23.8x, sitting at the 21st percentile of its historical range. Compared to the Industrials sector median P/E of 25.5x, the stock trades at a discount of 30%. On a free-cash-flow basis, the stock trades at 17.0x P/FCF, 27% below the 5-year average of 23.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $12.1B | $14.1B | $15.2B | $16.4B | $14.9B | $18.1B | $13.0B | $11.2B | $7.9B | $10.3B | $6.4B |
| Enterprise Value | $15.6B | $17.6B | $18.0B | $19.4B | $17.8B | $21.1B | $14.9B | $12.9B | $9.6B | $11.7B | $7.5B |
| P/E Ratio → | 17.94 | 20.72 | 21.59 | 32.61 | 19.65 | 24.53 | 23.47 | 36.87 | 16.82 | 36.70 | 19.84 |
| P/S Ratio | 1.37 | 1.59 | 1.74 | 1.96 | 1.65 | 2.16 | 1.87 | 1.58 | 1.10 | 1.56 | 1.05 |
| P/B Ratio | 5.44 | 6.28 | 6.58 | 7.70 | 7.32 | 9.43 | 8.70 | 9.29 | 8.24 | 9.89 | 6.88 |
| P/FCF | 17.00 | 19.76 | 20.84 | 30.31 | 22.46 | 23.43 | 24.49 | 22.86 | 39.10 | 24.41 | 16.82 |
| P/OCF | 13.74 | 15.97 | 16.20 | 19.85 | 15.48 | 17.34 | 17.36 | 14.99 | 17.19 | 15.92 | 10.88 |
P/E links to full P/E history page with 30-year chart
AVY EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Avery Dennison Corporation's enterprise value stands at 11.6x EBITDA, 18% below its 5-year average of 14.1x. The Industrials sector median is 13.8x, placing the stock at a 16% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.99 | 2.06 | 2.32 | 1.97 | 2.51 | 2.14 | 1.82 | 1.34 | 1.77 | 1.23 |
| EV / EBITDA | 11.62 | 13.08 | 12.53 | 15.50 | 13.07 | 16.43 | 13.80 | 12.89 | 9.70 | 12.60 | 9.58 |
| EV / EBIT | 14.17 | 16.60 | 16.85 | 23.87 | 16.44 | 19.84 | 18.47 | 39.57 | 15.66 | 17.99 | 13.91 |
| EV / FCF | — | 24.72 | 24.71 | 35.91 | 26.89 | 27.22 | 27.99 | 26.31 | 47.71 | 27.61 | 19.72 |
AVY Profitability
Margins and return-on-capital ratios measuring operating efficiency
Avery Dennison Corporation earns an operating margin of 12.5%, above the Industrials sector average of 4.3%. Operating margins have expanded from 11.4% to 12.5% over the past 3 years, signaling improving operational efficiency. Return on equity of 30.2% is exceptionally high — well above the sector median of 8.2%. ROIC of 15.2% represents solid returns on invested capital versus a sector median of 6.1%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 28.8% | 28.8% | 28.9% | 27.2% | 26.5% | 27.5% | 27.6% | 26.9% | 26.7% | 27.4% | 27.9% |
| Operating Margin | 12.5% | 12.5% | 12.9% | 11.4% | 11.9% | 12.4% | 12.6% | 11.6% | 11.3% | 11.4% | 9.8% |
| Net Profit Margin | 7.8% | 7.8% | 8.1% | 6.0% | 8.4% | 8.8% | 8.0% | 4.3% | 6.5% | 4.3% | 5.3% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 30.2% | 30.2% | 31.8% | 24.2% | 38.3% | 43.2% | 41.1% | 28.1% | 46.7% | 28.6% | 33.9% |
| ROA | 8.0% | 8.0% | 8.5% | 6.2% | 9.5% | 10.5% | 9.6% | 5.7% | 9.1% | 5.9% | 7.5% |
| ROIC | 15.2% | 15.2% | 16.4% | 14.1% | 16.4% | 18.9% | 21.0% | 22.0% | 23.8% | 25.4% | 23.1% |
| ROCE | 18.9% | 18.9% | 20.4% | 17.9% | 20.3% | 21.7% | 23.6% | 25.5% | 25.5% | 27.0% | 23.6% |
AVY Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Avery Dennison Corporation carries a Debt/EBITDA ratio of 2.8x, which is moderately leveraged (13% below the sector average of 3.2x). Net debt stands at $3.5B ($3.7B total debt minus $203M cash). Interest coverage of 7.8x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.66 | 1.66 | 1.36 | 1.52 | 1.53 | 1.61 | 1.41 | 1.61 | 2.06 | 1.51 | 1.40 |
| Debt / EBITDA | 2.77 | 2.77 | 2.19 | 2.59 | 2.28 | 2.42 | 1.96 | 1.94 | 1.99 | 1.70 | 1.66 |
| Net Debt / Equity | — | 1.57 | 1.22 | 1.42 | 1.44 | 1.53 | 1.24 | 1.40 | 1.82 | 1.30 | 1.19 |
| Net Debt / EBITDA | 2.62 | 2.62 | 1.96 | 2.42 | 2.15 | 2.29 | 1.73 | 1.69 | 1.75 | 1.46 | 1.41 |
| Debt / FCF | — | 4.96 | 3.87 | 5.60 | 4.43 | 3.80 | 3.50 | 3.45 | 8.62 | 3.20 | 2.90 |
| Interest Coverage | 7.83 | 7.83 | 9.15 | 6.84 | 12.88 | 15.14 | 11.53 | 4.29 | 10.48 | 10.33 | 8.96 |
AVY Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.13x means Avery Dennison Corporation can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 0.76x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 1.04x to 1.13x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.13 | 1.13 | 1.08 | 1.04 | 0.99 | 1.07 | 1.25 | 1.04 | 1.15 | 1.13 | 0.95 |
| Quick Ratio | 0.76 | 0.76 | 0.73 | 0.69 | 0.63 | 0.72 | 0.88 | 0.74 | 0.83 | 0.83 | 0.69 |
| Cash Ratio | 0.08 | 0.08 | 0.13 | 0.08 | 0.06 | 0.06 | 0.13 | 0.11 | 0.12 | 0.11 | 0.10 |
| Asset Turnover | — | 1.01 | 1.04 | 1.02 | 1.14 | 1.05 | 1.14 | 1.29 | 1.38 | 1.29 | 1.38 |
| Inventory Turnover | 6.47 | 6.47 | 6.37 | 6.61 | 6.58 | 6.72 | 7.04 | 7.79 | 8.06 | 7.88 | 8.45 |
| Days Sales Outstanding | — | 61.99 | 61.12 | 61.74 | 55.50 | 61.84 | 64.67 | 62.58 | 60.66 | 65.14 | 60.03 |
AVY Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Avery Dennison Corporation returns 7.1% to shareholders annually — split between a 2.4% dividend yield and 4.7% buyback yield. A payout ratio of 41.9% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 5.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.4% | 2.0% | 1.8% | 1.6% | 1.6% | 1.2% | 1.5% | 1.7% | 2.2% | 1.5% | 2.2% |
| Payout Ratio | 41.9% | 41.9% | 39.4% | 51.0% | 31.6% | 29.8% | 35.4% | 62.5% | 37.4% | 55.2% | 44.4% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.6% | 4.8% | 4.6% | 3.1% | 5.1% | 4.1% | 4.3% | 2.7% | 5.9% | 2.7% | 5.0% |
| FCF Yield | 5.9% | 5.1% | 4.8% | 3.3% | 4.5% | 4.3% | 4.1% | 4.4% | 2.6% | 4.1% | 5.9% |
| Buyback Yield | 4.7% | 4.1% | 1.7% | 0.8% | 2.6% | 1.0% | 0.8% | 2.1% | 5.0% | 1.3% | 4.1% |
| Total Shareholder Yield | 7.1% | 6.1% | 3.5% | 2.4% | 4.2% | 2.2% | 2.3% | 3.8% | 7.2% | 2.8% | 6.4% |
| Shares Outstanding | — | $77M | $81M | $81M | $82M | $84M | $84M | $85M | $89M | $90M | $91M |
Peer Comparison
Compare AVY with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 AVYYou | $12B | 17.9 | 11.6 | 17.0 | 28.8% | 12.5% | 30.2% | 15.2% | 2.8 |
 CCK | $12B | 16.2 | 8.1 | 10.6 | 18.3% | 13.2% | 21.9% | 14.1% | 3.0 |
 SEE | $6B | 12.3 | 14.3 | 13.5 | 29.8% | 13.5% | 54.3% | 11.2% | 5.9 |
 SON | $5B | 12.7 | 7.7 | 12.7 | 20.9% | 9.5% | 13.4% | 6.2% | 3.9 |
 SLGN | $4B | 15.4 | 8.1 | 10.4 | 17.7% | 10.2% | 13.5% | 8.7% | 4.7 |
 GPK | $3B | 6.8 | 5.9 | — | 18.7% | 10.1% | 14.0% | 7.7% | 4.0 |
 CCL | $37B | 14.9 | 8.7 | 14.3 | 29.6% | 16.8% | 25.6% | 8.9% | 3.8 |
 IPGP | $5B | 161.6 | 57.6 | — | 38.0% | 1.3% | 1.5% | 0.6% | — |
 BALL | $15B | 17.6 | 10.6 | 19.7 | 14.9% | 10.6% | 16.1% | 9.4% | 3.5 |
 PKG | $21B | 27.3 | 13.0 | 28.7 | 21.0% | 14.0% | 17.1% | 12.6% | 2.3 |
 OI | $1B | -10.9 | 5.0 | 8.3 | 17.3% | 9.9% | -9.7% | 8.4% | 4.5 |
| Industrials Median | — | 25.5 | 13.8 | 20.0 | 32.0% | 4.3% | 8.2% | 6.1% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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AVY — Frequently Asked Questions
Quick answers to the most common questions about buying AVY stock.
What is Avery Dennison Corporation's P/E ratio?
Avery Dennison Corporation's current P/E ratio is 17.9x. The historical average is 22.2x. This places it at the 21th percentile of its historical range.
What is Avery Dennison Corporation's EV/EBITDA?
Avery Dennison Corporation's current EV/EBITDA is 11.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.8x.
What is Avery Dennison Corporation's ROE?
Avery Dennison Corporation's return on equity (ROE) is 30.2%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 23.4%.
Is AVY stock overvalued?
Based on historical data, Avery Dennison Corporation is trading at a P/E of 17.9x. This is at the 21th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Avery Dennison Corporation's dividend yield?
Avery Dennison Corporation's current dividend yield is 2.37% with a payout ratio of 41.9%.
What are Avery Dennison Corporation's profit margins?
Avery Dennison Corporation has 28.8% gross margin and 12.5% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Avery Dennison Corporation have?
Avery Dennison Corporation's Debt/EBITDA ratio is 2.8x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.