Avery Dennison (AVY) 10-K Summary — Year Ended Dec 30, 2023
Avery Dennison reported a decline in annual revenue, with net income and operating cash flow both positive. The company faces material risks from macroeconomic conditions and supply chain disruptions.
Key takeaway
Year ended Dec 30, 2023 · FY2025 10-K
Avery Dennison reported a decline in annual revenue, with net income and operating cash flow both positive. The company faces material risks from macroeconomic conditions and supply chain disruptions.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$8.4B
Revenue reported for the fiscal year.
Operating income
n/a
Income from operations reported for the year.
Net income
$503M
Net income reported for the year.
Operating cash flow
$826M
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jan 1, 2022 | $8.4B | n/a |
| Dec 31, 2022 | $9B | +7.5% |
| Dec 30, 2023 | $8.4B | -7.5% |
Business overview
Avery Dennison provides labeling and packaging materials and solutions. The company operates through segments including materials and solutions, serving various industries such as retail, apparel, and logistics.
Financial performance
Annual revenue decreased compared to the prior year, while net income and operating cash flow remained positive. The trend shows a decline in revenue from the previous year's level.
Material risks
Material risks include adverse effects from global economic conditions, supply chain disruptions, and changes in customer demand. The company also faces risks related to cybersecurity and regulatory compliance.
Liquidity and capital
The company generated positive operating cash flow, which supports its liquidity and capital allocation activities. Specific capital allocation themes are not detailed in the provided context.
What to watch
Monitor the trend in revenue and operating cash flow in the next filing to assess the company's financial direction.