Avery Dennison (AVY) FY2021 results: revenue $8.4 billion, up 20.6% on the year
Avery Dennison Corp. (AVY) reported revenue of $8.4 billion for fiscal 2021, the year ended 1 January 2022, up 20.6% on the year before. Net income was $740 million, up 33.1%, and diluted earnings per share $8.83. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2022.
Revenue
$8.4 billion
+20.6% on the year
FY2014FY2021
Operating margin
n/a
FY2014FY2021
Net income
$740 million
+33.1% on the year
FY2014FY2021
Diluted EPS
$8.83
+33.6% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
1,047
751
746
+39.3%
Capital expenditure
255
201
219
+26.6%
Free cash flow
792
550
527
+44.0%
Free cash flow margin
9.4%
7.9%
7.5%
Cash from investing
-1,738
-554
-251
Cash from financing
604
-208
-470
Depreciation and amortisation
244
205
179
+18.9%
Share-based compensation
37.2
24.0
34.5
+55.0%
Buybacks
181
104
238
+73.4%
Dividends paid
221
197
190
+12.1%
Dividend per share
$2.66
$2.36
$2.26
+12.7%
Diluted shares, weighted
84m
84m
85m
-0.4%
Shares outstanding at period end
83m
83m
83m
-0.7%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
1,924
1,485
1,204
+29.6%
Debt
3,105
2,117
1,940
+46.7%
Operating lease liabilities
135
116
98.9
+16.6%
Finance lease liabilities
11.7
22.9
24.0
-48.9%
Other liabilities
2,796
2,343
2,222
+19.3%
Total liabilities and equity
7,972
6,084
5,489
+31.0%
Fixed assets
1,478
1,344
1,211
+10.0%
Goodwill
1,882
1,136
931
+65.6%
Intangible assets
911
225
126
+305.2%
Cash and equivalents
163
252
254
-35.5%
Receivables
1,424
1,235
1,212
+15.3%
Inventory
907
717
663
+26.5%
Other assets
1,207
1,174
1,092
+2.8%
Total assets
7,972
6,084
5,489
+31.0%
10-K for the year ended 1 January 2022, filed 23 February 2022: the filing.