Avery Dennison Corp

Avery Dennison is a materials science and digital identification company built around pressure-sensitive labeling, graphics, tapes, RFID inlays and tags, and software that links physical products to digital data. The company serves brands, converters, retailers, logistics operators, and industrial customers that need packaging, labeling, traceability, and supply-chain efficiency solutions. Its business is organized into Materials Group and Solutions Group, with the former centered on label materials and functional materials and the latter on RFID and digital identification offerings. Avery Dennison operates globally, with most of its sales outside the United States and a large manufacturing and distribution footprint across more than 50 countries.

28,8 %

7,8 %

+1,1 %

1.13

0.76

— Avery Dennison Corp
%
Label Materials45% Pressure-sensitive label stocks and related materials used by converters and brands for packaging and product identification.
RFID and Digital Identification20% RFID inlays, tags, and software-enabled identification solutions that support traceability and automation.
Graphics Materials10% Vehicle wraps, architectural films, and other graphics products used for branding and visual communication.
Functional Bonding Materials15% Performance tapes and specialty bonding materials used in industrial and technical applications.
Reflective and Safety Materials10% Reflective products used in transportation, safety, and visibility applications.

Avery Dennison sells primarily to business customers rather than end consumers, and its demand is tied to packaging,...

  • Converters and label printersprimary

    Buy pressure-sensitive label materials and related substrates to convert into finished labels for brand owners and industrial users.

  • Brand owners and packaged goods companiesprimary

    Buy labeling and branding materials to improve shelf appeal, product information, and packaging functionality.

  • Apparel and footwear companiesprimary

    Buy RFID tags and digital identification solutions to improve inventory accuracy, omnichannel fulfillment, and loss prevention.

  • Retail, e-commerce, and logistics operatorssecondary

    Buy RFID and labeling solutions to automate tracking, reduce labor, and improve supply-chain efficiency.

  • Industrial and automotive customerssecondary

    Buy tapes, bonding materials, graphics, and reflective products for assembly, safety, and technical applications.

Avery Dennison is a highly international business, with approximately 69% of 2025 net sales originating outside the...

  • About 69% of 2025 net sales came from outside the United States
  • Roughly 40% of net sales came from emerging markets
  • About 58% of employees were in Asia Pacific at year-end 2025
  • The company operates over 200 manufacturing and distribution facilities
  • Presence in more than 50 countries supports local customer service and supply chains
  • International mix increases foreign exchange and trade policy exposure

Avery Dennison’s strategy centers on using materials science and process engineering to deepen adoption of intelligent...

01
Grow RFID and digital identification solutionsmedium-term

RFID and connected solutions are a higher-value growth engine that can deepen customer relationships and expand use cases beyond traditional labels.

02
Increase intelligent label adoptionmedium-term

Broader adoption of intelligent labels supports recurring demand for materials and helps customers improve traceability and supply-chain efficiency.

03
Drive productivity and working capital disciplineshort-term

Operational efficiency and lower working capital intensity improve cash conversion and resilience in a cyclical, globally exposed business.

04
Expand sustainability-oriented product valuelong-term

Customers increasingly want packaging and labeling solutions that support circularity, transparency, and waste reduction.

Avery Dennison’s business is exposed to global macroeconomic and geopolitical conditions because most sales are outside...

high

International macroeconomic and geopolitical exposure

A large share of sales and operations are outside the U.S., so regional recessions, trade restrictions, tariffs, and currency swings can directly affect demand and profitability.

Scope
Approximately 69% of net sales originated outside the U.S. in 2025.
Materiality
high
high

Customer consolidation and pricing pressure

If converters, distributors, or large customers consolidate, they can demand lower prices and stronger terms, reducing margins.

Scope
Materials Group converter channel and third-party distributor relationships.
Materiality
high
high

Cybersecurity and IT disruption

The company relies on digital systems, cloud services, and connected supply chains, making it vulnerable to intrusion, theft, and operational interruption.

Scope
Customer and employee data, manufacturing and business systems.
Materiality
high
medium

Input cost inflation and supply-chain disruption

Raw materials, energy, freight, and labor costs can rise faster than pricing, especially in a globally sourced manufacturing model.

Scope
Materials Group and manufacturing operations.
Materiality
high
medium

Product quality and regulatory liability

Defects, recalls, or regulatory actions could harm brand reputation and lead to claims or lost business.

Scope
Labeling, RFID, reflective, and industrial materials products.
Materiality
medium
Goodwill impairment
Could materially affect reported earnings and equity if impairment is recognized
Business combination purchase accounting
Can change future operating expense and reported asset values
Pension and postretirement benefits
Can affect operating results and balance sheet obligations
Taxes based on income
Can materially change net income and comparability across periods
Foreign currency translation
Can distort underlying operating trends in constant-currency terms

: 11/08/2026