Short answer
Avery Dennison (AVY) filed its fiscal 2024 10-K annual report with the SEC on Feb 26, 2025. It reported revenue of $8.8B (+4.7% year over year) and net income of $705M.
- Top risk flagged: Regulatory risk from cybersecurity oversight by Audit Committee under SEC guidance on risk governance
FY2024 key financial metrics · XBRL
- Revenue
- $8.8B
- +4.7% YoY
- Net income
- $705M
- +40.1% YoY
- Gross margin
- 28.9%
- +1.7 pp YoY
- EPS (diluted)
- $8.73
- +40.8% YoY
- ROE
- 30.5%
- +6.8 pp YoY
- Operating cash flow
- $939M
- +13.7% YoY
Source: XBRL data from the Avery Dennison (AVY) FY2024 10-K on SEC EDGAR. USD.
Avery Dennison FY2024 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: global materials science and digital identification solutions serving diverse industries with labeling, branding, RFID, and supply chain optimization products
- New emphasis on sustainable innovation including circular economy products and RFID digital identity solutions expanding in retail and logistics sectors
- Strategic focus on connecting physical and digital worlds; integration of Solutions Group’s RFID and data management with Materials Group’s advanced materials
- Workforce expansion to ~35,000 employees with 58% in Asia Pacific, 70% of net sales international, 40% from emerging markets, highlighting global geographic reach
- 2023 acquisitions totaled $231 million enhancing sports apparel customization, brand embellishments, and labeling transfer capabilities
Management Discussion & Analysis
- Revenue $8.76B in 2024, up 5% YoY; organic sales up 5%, net sales ex. currency down 1%
- Gross profit margin 28.9% in 2024 vs 27.2% in 2023; driven by productivity initiatives and higher volume
- Best performing segment: Materials Group revenue $6.01B (+4% organic), adjusted operating income $924.7M; worst: Solutions Group revenue $2.74B (+6% organic), lower adjusted operating income $289.3M vs prior year
- Operating cash flow $939M in 2024, adjusted free cash flow $699.5M; capital expenditures $239.8M; dividends $277.5M; share repurchases $247.5M
- 2025 outlook: net sales growth expected, volume-driven; unfavorable FX impact anticipated; mid-20% effective tax rate; incremental restructuring savings planned
Risk Factors
- Regulatory risk from cybersecurity oversight by Audit Committee under SEC guidance on risk governance
- Geopolitical threat from cyber threats necessitating risk intelligence from governmental and private sector sources
- Operational risk from reliance on cybersecurity leadership team managing threat detection and incident response
- Competitive risk from potential cybersecurity incidents affecting product security and client trust in digital solutions
Generated from the filing text; verify against the original. How to read a 10-K
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