Avery Dennison (AVY) FY2022 results: revenue $9.0 billion, up 7.5% on the year
Avery Dennison Corp. (AVY) reported revenue of $9.0 billion for fiscal 2022, the year ended 31 December 2022, up 7.5% on the year before. Net income was $757 million, up 2.3%, and diluted earnings per share $9.21. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2023.
Revenue
$9.0 billion
+7.5% on the year
FY2015FY2022
Operating margin
n/a
FY2015FY2022
Net income
$757 million
+2.3% on the year
FY2015FY2022
Diluted EPS
$9.21
+4.3% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
961
1,047
751
-8.2%
Capital expenditure
278
255
201
+9.1%
Free cash flow
683
792
550
-13.8%
Free cash flow margin
7.6%
9.4%
7.9%
Cash from investing
-333
-1,738
-554
Cash from financing
-615
604
-208
Depreciation and amortisation
291
244
205
+19.1%
Share-based compensation
47.4
37.2
24.0
+27.4%
Buybacks
380
181
104
+109.8%
Dividends paid
239
221
197
+8.3%
Dividend per share
$2.93
$2.66
$2.36
+10.2%
Diluted shares, weighted
82m
84m
84m
-1.9%
Shares outstanding at period end
81m
83m
83m
-2.2%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
2,032
1,924
1,485
+5.6%
Debt
3,102
3,105
2,117
-0.1%
Operating lease liabilities
114
135
116
-16.0%
Finance lease liabilities
8.2
11.7
22.9
-29.9%
Other liabilities
2,694
2,796
2,343
-3.6%
Total liabilities and equity
7,950
7,972
6,084
-0.3%
Fixed assets
1,540
1,478
1,344
+4.2%
Goodwill
1,862
1,882
1,136
-1.0%
Intangible assets
840
911
225
-7.8%
Cash and equivalents
167
163
252
+2.8%
Receivables
1,374
1,424
1,235
-3.5%
Inventory
1,010
907
717
+11.3%
Other assets
1,156
1,207
1,174
-4.2%
Total assets
7,950
7,972
6,084
-0.3%
10-K for the year ended 31 December 2022, filed 22 February 2023: the filing.