Avery Dennison Corporation (AVY)

Avery Dennison Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 28, 2024	Dec 30, 2023	Dec 31, 2022	Jan 1, 2022
Net Income	708.3	688	704.9	503	757.1	740.1
Depreciation & Amortization	304.1	288	279.1	270.5	261.2	214
Other Amortization	40.2	40.2	33.1	27.9	29.5	30.1
Loss (Gain) From Sale of Assets	-12.9	-12.9	-	0.5	-1.4	-3.7
Asset Writedown & Restructuring Costs	47.2	47.2	41.9	79.4	7.7	13.6
Loss (Gain) From Sale of Investments	23.3	23.3	19.2	1.5	-13.5	-23
Stock-Based Compensation	27.5	27.9	28.7	22.3	47.4	37.2
Provision & Write-off of Bad Debts	47.5	51.2	47.4	49.9	50.1	35.7
Other Operating Activities	-33.7	-28.7	-12.4	-68.7	49.1	27.4
Change in Accounts Receivable	44	44	-107.3	-16.7	-22.1	-113.2
Change in Inventory	53.2	53.2	-90.7	111.7	-140.7	-182.7
Change in Accounts Payable	-144.4	-144.4	106.7	-87.6	68.2	255.2
Change in Income Taxes	-5.1	-5.1	40.2	-18.7	18.9	-7.3
Change in Other Net Operating Assets	121.1	-190.5	-152	-49	-150.5	23.4
Operating Cash Flow	1,220	881.4	938.8	826	961	1,047
Operating Cash Flow Growth	42.59%	-6.11%	13.66%	-14.05%	-8.20%	39.33%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 28, 2024	Dec 30, 2023	Dec 31, 2022	Jan 1, 2022
Capital Expenditures	-182.2	-169	-208.8	-265.3	-278.1	-255
Sale of Property, Plant & Equipment	4.3	22.6	0.6	1	2.3	1.1
Cash Acquisitions	-472.6	-401.8	-3.8	-224.9	-39.5	-1,478
Divestitures	-	-	-	-	1.1	7.6
Sale (Purchase) of Intangibles	-29	-31.4	-31	-19.8	-20.4	-17.1
Other Investing Activities	-6.7	-16.4	-0.1	50	1.9	3.1
Investing Cash Flow	-686.2	-596	-243.1	-459	-332.7	-1,738

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 28, 2024	Dec 30, 2023	Dec 31, 2022	Jan 1, 2022
Short-Term Debt Issued	-	422.5	-	-	34.6	259.2
Long-Term Debt Issued	-	576.5	539.2	394.9	-	791.7
Total Debt Issued	-59.8	999	539.2	394.9	34.6	1,051
Short-Term Debt Repaid	-	-	-269	-36.6	-	-
Long-Term Debt Repaid	-	-559.4	-308.1	-255.9	-6.3	-13.4
Total Debt Repaid	-75.8	-559.4	-577.1	-292.5	-6.3	-13.4
Net Debt Issued (Repaid)	-135.6	439.6	-37.9	102.4	28.3	1,038
Repurchase of Common Stock	-385.6	-585.1	-255.9	-161.3	-404.6	-206.3
Common Dividends Paid	-296.3	-288.4	-277.5	-256.7	-238.9	-220.6
Other Financing Activities	17.9	19	-4.8	-1.6	-	-6.3
Financing Cash Flow	-799.6	-414.9	-576.1	-317.2	-615.2	604.3

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 28, 2024	Dec 30, 2023	Dec 31, 2022	Jan 1, 2022
Foreign Exchange Rate Adjustments	0.6	3.2	-5.5	-2	-8.6	-2.8
Net Cash Flow	-264.9	-126.3	114.1	47.8	4.5	-89.6

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 28, 2024	Dec 30, 2023	Dec 31, 2022	Jan 1, 2022
Free Cash Flow	1,038	712.4	730	560.7	682.9	791.8
Free Cash Flow Growth	51.68%	-2.41%	30.19%	-17.89%	-13.75%	43.99%
Free Cash Flow Margin	11.09%	8.04%	8.34%	6.70%	7.56%	9.42%
Free Cash Flow Per Share	13.54	9.10	9.05	6.91	8.31	9.45
Levered Free Cash Flow	926.13	618.59	781.08	494.74	609.96	599.1
Unlevered Free Cash Flow	1,016	703.21	854.2	569.11	662.53	642.98

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 28, 2024	Dec 30, 2023	Dec 31, 2022	Jan 1, 2022
Cash Interest Paid	131.3	131.3	111.8	109.9	80.9	62.8
Cash Income Tax Paid	265	265	226.8	234.9	204.8	253.4
Change in Working Capital	68.8	-242.8	-203.1	-60.3	-226.2	-24.6

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Oct 29, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Oct 29, 2026

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