Avery Dennison debt and dilution41

Borrowings, liquidity, share count and stock-based dilution.

Total debt

USD millions

$3,678.2M

Cash & equivalents

USD millions

$227.3M

Net debt

USD millions

$3,450.9M

Debt / equity

1.58×

Debt / assets

39.93%

Net debt / EBITDA

× · TTM

—

Operating income is unavailable in the extracted statements for this period.

Debt / FCF

× · TTM

3.46×

Interest coverage

× · TTM

—

Operating income is unavailable in the extracted statements for this period.

Current ratio

1.13×

Diluted shares

Million shares

76.4M shares

Basic shares

Million shares

76.3M shares

Share count growth

-2.43%

Share repurchases

USD millions

$137.6M

Quarterly data

Avery Dennison capital history. Each metric has its own unit. A dash means inputs are missing or the calculation is undefined.
Fiscal period	Ended	Total debtUSD millions	Cash & equivalentsUSD millions	Net debtUSD millions	Debt / equity×	Debt / assets%	Net debt / EBITDA×	Debt / FCF×	Interest coverage×	Current ratio×	Diluted sharesMillion shares	Basic sharesMillion shares	Share count growth%	Share repurchasesUSD millions
FY 2026 Q2	Jun 30, 2026	3,678.2	227.3	3,450.9	1.58×	39.93%	—	3.46×	—	1.13×	76.4	76.3	-2.43%	137.6
FY 2026 Q1	Mar 31, 2026	3,790.1	255.1	3,535	1.65×	42.21%	—	4.34×	—	1.15×	77	76.8	-3.03%	60.6
FY 2025 Q4	Dec 31, 2025	3,732.9	202.8	3,530.1	1.66×	42.41%	—	5.24×	—	1.13×	77.44	76.95	-3.93%	118.7
FY 2025 Q3	Sep 27, 2025	3,781.1	536.3	3,244.8	1.71×	42.64%	—	5.52×	—	1.26×	78	77.9	-3.23%	93.6
FY 2025 Q2	Jun 28, 2025	3,550.2	215.9	3,334.3	1.61×	41.43%	—	5.59×	—	1.04×	78.3	78.2	-2.98%	98.4
FY 2025 Q1	Mar 29, 2025	3,459.1	195.9	3,263.2	1.59×	41.4%	—	5.7×	—	1.03×	79.4	79.2	-1.61%	261.6
FY 2024 Q4	Dec 28, 2024	3,152.2	329.1	2,823.1	1.36×	37.51%	—	4.32×	—	1.08×	80.1	80.1	-0.74%	140
FY 2024 Q3	Sep 28, 2024	3,158.9	212.7	2,946.2	1.32×	37.38%	—	4.73×	—	0.92×	80.8	80.5	-0.12%	66.8
FY 2024 Q2	Jun 29, 2024	3,218.8	208.8	3,010	1.41×	38.79%	—	4.56×	—	0.9×	81	80.6	-0.12%	25.1
FY 2024 Q1	Mar 30, 2024	3,240.4	185.7	3,054.7	1.47×	39.25%	—	4.67×	—	0.87×	81	80.5	-0.49%	15.6
FY 2023 Q4	Dec 30, 2023	3,244.3	215	3,029.3	1.52×	39.52%	—	5.79×	—	1.04×	80.8	80.7	-0.37%	20.4
FY 2023 Q3	Sep 30, 2023	3,313.6	209.9	3,103.7	1.61×	40.74%	—	5.6×	—	1.03×	81	80.6	-0.74%	27.6
FY 2023 Q2	Jul 1, 2023	3,545.5	217.1	3,328.4	1.76×	42.89%	—	7.53×	—	1.09×	81	80.7	-1.22%	38.8
FY 2023 Q1	Apr 1, 2023	3,559.1	351.3	3,207.8	1.74×	43.29%	—	6.54×	—	1.13×	81.5	80.9	-1.82%	50.7
FY 2022 Q4	Dec 31, 2022	3,102.1	167.2	2,934.9	1.53×	39.02%	—	4.54×	—	0.99×	81.6	81	-1.94%	60.9
FY 2022 Q3	Oct 1, 2022	3,132.8	128.2	3,004.6	1.56×	38.95%	—	5.3×	—	1.01×	81.9	81.2	-2.05%	49.9
FY 2022 Q2	Jul 2, 2022	3,232	164.8	3,067.2	1.67×	39.94%	—	4.71×	—	0.98×	82.1	81.7	-1.57%	117.2
FY 2022 Q1	Apr 2, 2022	3,268.7	147.1	3,121.6	1.69×	40.16%	—	4.78×	—	1.06×	83	82.4	-0.84%	151.5
FY 2021 Q4	Jan 1, 2022	3,104.7	162.7	2,942	1.61×	38.95%	—	3.92×	—	1.07×	83.5	82.6	-0.96%	54.9
FY 2021 Q3	Oct 2, 2021	3,199	207.2	2,991.8	1.78×	40.15%	—	3.84×	—	1.06×	83.7	82.9	-0.72%	31
FY 2021 Q2	Jul 3, 2021	2,053.8	344.8	1,709	1.21×	31.98%	—	2.5×	—	1.32×	83.8	83	-0.48%	39.4
FY 2021 Q1	Apr 3, 2021	2,142.8	328	1,814.8	1.35×	34.16%	—	2.81×	—	1.28×	83.9	83.1	-0.24%	55.6
FY 2020 Q4	Jan 2, 2021	2,116.8	252.3	1,864.5	1.43×	34.79%	—	3.85×	—	1.25×	84.38	83.4	0%	52.1
FY 2020 Q3	Sep 26, 2020	2,144.1	284.7	1,859.4	1.61×	37.48%	—	3.95×	—	1.31×	84	83.5	-0.6%	7
FY 2020 Q2	Jun 27, 2020	2,266.2	262.6	2,003.6	1.87×	40.1%	—	4.64×	—	1.22×	83.8	83.4	-1.07%	0
FY 2020 Q1	Mar 28, 2020	2,820.3	742	2,078.3	2.4×	45.05%	—	5.59×	—	1.14×	84.1	83.3	-1.19%	45.2
FY 2019 Q4	Dec 28, 2019	1,939.5	253.7	1,685.8	1.61×	35.34%	—	3.68×	—	1.04×	84.7	83.4	-3.14%	33.4
FY 2019 Q3	Sep 28, 2019	1,997.9	224.2	1,773.7	1.89×	37.42%	—	3.92×	—	1.03×	84.8	84	-3.78%	87.7
FY 2019 Q2	Jun 29, 2019	2,061.8	247.3	1,814.5	1.94×	38.25%	—	7.92×	—	1.04×	85.1	84.3	-4.1%	27.9
FY 2019 Q1	Mar 30, 2019	2,110.2	225.7	1,884.5	2.13×	39.42%	—	8.63×	—	1.14×	84.3	84.3	-4.2%	88.7
FY 2018 Q4	Dec 29, 2018	1,966.2	232	1,734.2	2.06×	37.98%	—	8.5×	—	1.15×	87.1	86.1	-2.16%	217.8
FY 2018 Q3	Sep 29, 2018	1,867	217.6	1,649.4	1.78×	36.03%	—	8×	—	1×	88.5	87.3	-1.13%	72.2
FY 2018 Q2	Jun 30, 2018	1,674	215.8	1,458.2	1.64×	32.42%	—	3.5×	—	1.1×	89	87.9	-0.68%	51.3
FY 2018 Q1	Mar 31, 2018	1,713	187.5	1,525.5	1.57×	32.44%	—	3.76×	—	1.12×	89.6	88	-0.45%	51.6
FY 2017 Q4	Dec 30, 2017	1,581.7	224.4	1,357.3	1.51×	30.79%	—	3.44×	—	1.13×	90.1	88	-0.9%	24.9
FY 2017 Q3	Sep 30, 2017	1,681.4	232.3	1,449.1	1.48×	31.91%	—	3.92×	—	1.13×	89.9	88.3	-0.9%	34.5
FY 2017 Q2	Jul 1, 2017	1,720.3	209.4	1,510.9	1.61×	33.79%	—	4.71×	—	1.12×	89.9	88.5	-0.67%	35.7
FY 2017 Q1	Apr 1, 2017	1,583.4	294.9	1,288.5	1.56×	33.22%	—	3.73×	—	1.24×	90	88.4	-1.12%	34.6
FY 2016 Q4	Dec 31, 2016	1,292.5	195.1	1,097.4	1.4×	29.4%	—	3.16×	—	0.95×	90.1	88.8	-2.09%	80.9
FY 2016 Q3	Oct 1, 2016	1,300.6	189.4	1,111.2	1.25×	28.27%	—	3.27×	—	0.98×	90.6	89.1	-2.62%	21.4
FY 2016 Q2	Jul 2, 2016	1,161.9	216.1	945.8	1.21×	27.05%	—	3.07×	—	1.22×	90.7	89.1	-2.3%	64.5
FY 2016 Q1	Apr 2, 2016	1,228.2	169.6	1,058.6	1.27×	28.9%	—	3.8×	—	1.18×	91.1	89.4	-1.32%	95.6
FY 2015 Q4	Jan 2, 2016	1,058.9	158.8	900.1	1.1×	25.62%	—	3.13×	—	1.22×	92.9	90.7	-0.65%	123.8
FY 2015 Q3	Oct 3, 2015	1,053.6	171.7	881.9	1×	24.8%	—	3.22×	—	1.3×	93.2	91.5	-1.93%	47
FY 2015 Q2	Jul 4, 2015	1,151.7	246	905.7	1.05×	26.45%	—	2.89×	—	1.29×	93	91.2	-3.9%	27.7
FY 2015 Q1	Apr 4, 2015	1,211	212.5	998.5	1.18×	28.08%	—	3.4×	—	1.22×	92.4	90.6	-5.72%	33.8
FY 2014 Q4	Jan 3, 2015	1,149.6	227	922.6	1.08×	26.37%	—	5.08×	—	1.2×	93.19	91.29	-5.2%	108.2
FY 2014 Q3	Sep 27, 2014	1,112.2	195.6	916.6	0.85×	24.75%	—	4.06×	—	1.27×	95.2	93.3	-4.7%	93.9
FY 2014 Q2	Jun 28, 2014	1,172.7	221.9	950.8	0.82×	25.4%	—	8.6×	—	1.31×	96.7	94.9	-4.43%	94.2
FY 2014 Q1	Mar 29, 2014	1,118.3	205.1	913.2	0.75×	24.36%	—	8.54×	—	1.35×	98	96.1	-4%	59.2
FY 2013 Q4	Dec 28, 2013	1,027.5	351.6	675.9	0.69×	22.29%	—	5.38×	—	1.35×	98.3	96.3	-3.89%	59.7
FY 2013 Q3	Sep 28, 2013	1,065.7	309.6	756.1	0.68×	22.52%	—	3.84×	—	1.38×	99.6	97.9	-3.17%	74.9
FY 2013 Q2	Jun 29, 2013	1,389.6	211.6	1,178	0.92×	26.77%	—	3.36×	—	1.3×	100.8	99.3	-3.97%	87.1
FY 2013 Q1	Mar 30, 2013	1,357.4	207.7	1,149.7	0.86×	26.42%	—	3.94×	—	1.18×	101.5	100.1	-5.3%	61.8
FY 2012 Q4	Dec 29, 2012	954.1	235.4	718.7	0.6×	18.69%	—	2.28×	—	1.16×	101.4	100.2	-5.56%	7
FY 2012 Q3	Sep 29, 2012	1,377.1	190.7	1,186.4	0.87×	26.99%	—	3.2×	—	1.14×	102.2	101.1	-4.62%	86
FY 2012 Q2	Jun 30, 2012	1,374.7	161.4	1,213.3	0.88×	27.18%	—	2.94×	—	1.13×	104.3	103.4	-2.18%	70
FY 2012 Q1	Mar 31, 2012	1,316.9	190.7	1,126.2	0.79×	25.97%	—	2.93×	—	1.15×	106.2	105.7	0.28%	72.2
FY 2011 Q4	Dec 31, 2011	1,181.3	178	1,003.3	0.71×	23.76%	—	3.72×	—	1.35×	107.1	106.1	-0.28%	0
FY 2011 Q3	Oct 1, 2011	1,387.7	119.7	1,268	0.79×	27.42%	—	6.5×	—	1.17×	106.6	106	0.19%	0
FY 2011 Q2	Jul 2, 2011	1,566.6	125.4	1,441.2	0.87×	29.23%	—	11.25×	—	1.14×	106.9	105.7	0.09%	0
FY 2011 Q1	Apr 2, 2011	1,523	120.4	1,402.6	0.88×	28.66%	—	5.09×	—	1.11×	107	105.4	—	13.5
FY 2010 Q4	Jan 1, 2011	1,337.2	127.5	1,209.7	0.81×	26.22%	—	3.32×	—	1.07×	107.1	106.4	—	—
FY 2010 Q3	Oct 2, 2010	1,509.3	157.8	1,351.5	0.99×	28.95%	—	—	—	1.13×	107.1	105.8	—	—
FY 2010 Q2	Jul 3, 2010	1,587.2	148.9	1,438.3	1.13×	31.51%	—	—	—	1.04×	106.8	105.6	—	—

Sources and calculations

Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.

Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.

The SBC option subtracts reported share-based compensation from FCF as an economic-cost scenario. Missing SBC never becomes zero.

Debt uses reported borrowings, with overlapping concepts treated as alternatives. Cash excludes restricted cash and short-term investments. Dilution compares split-normalized weighted average basic shares year over year. Share buyback spending does not by itself measure shares retired.

Market prices: Yahoo Finance · AVY, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.

Total debt: Reported borrowing balances. Uses an aggregate including current maturities, or current plus noncurrent debt. Adds separately disclosed short-term borrowings, with commercial paper as a fallback, unless the selected current/aggregate concept already includes them. Finance leases are included when part of the reported debt concept; undisclosed components are not estimated.
Cash & equivalents: Unrestricted reported cash and cash equivalents. Excludes short-term investments and restricted cash.
Net debt: Total debt − cash and equivalents. Negative means net cash.
Debt / equity: Total debt / equity including noncontrolling interests. Nonpositive equity yields unavailable.
Debt / assets: Total debt / total assets × 100.
Net debt / EBITDA: Period-end net debt / (TTM operating income + TTM depreciation and amortization). Negative net debt is retained.
Debt / FCF: Period-end reported debt / positive TTM free cash flow. Reflects the selected reported capex scope and SBC option.
Interest coverage: TTM operating income / positive TTM interest expense. IFRS finance costs can include more than interest.
Current ratio: Current assets / positive current liabilities.
Diluted shares: Reported weighted average diluted shares, normalized for subsequent recorded stock splits. Fourth-quarter counts use a day-weighted annual/nine-month reconstruction where possible.
Basic shares: Reported weighted average basic shares, normalized for subsequent recorded stock splits.
Share count growth: Year-over-year change in split-normalized weighted average basic shares × 100. A dilution proxy; negative means a lower share count.
Share repurchases: Reported cash payments for repurchase of common shares. This is spending, not a buyback yield.

SEC company facts · CIK 8818