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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Avery Dennison
Avery Dennison (AVY) investor relations material
Avery Dennison Investor presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Investor presentation summary4 Nov, 2026
Business profile and strategy
Global materials science and digital identification solutions provider, with operations in 50+ countries, ~35,000 employees and 2025 net sales of $8.9B.
Portfolio spans diverse markets: ~60% of sales tied to staples, ~30% to emerging markets and ~45% in high-value categories, up ~10 pts. vs. 2020.
Five strategic priorities include growing high-value categories, profitable base-business growth, leading physical-digital convergence, productivity and responsible operations.
Growth and financial framework
High-value category exposure rose from ~28% of sales in 2015 to ~45% in 2025; adjusted EBITDA margin expanded from 12.5% to 16.4% over the same period.
Long-term annualized targets through 2028: 5%+ sales growth ex. currency, 17%+ adjusted EBITDA margin, 10% adjusted EPS growth and top-quartile ROTC.
High-value categories reached ~45% of 2025 sales, or ~$4.0B; the portfolio outperformed real GDP ~2.5x and global retail volumes ~3.5x.
Segment and Intelligent Labels profile
Materials Group 2025 snapshot: $6.1B net sales, 3.2% sales change ex. currency, 17.4% adjusted EBITDA margin and 38% high-value category mix.
Solutions Group 2025 snapshot: $2.8B net sales, 12.7% sales change ex. currency, 17.3% adjusted EBITDA margin and 60% high-value category mix.
Intelligent Labels has a 350B+ unit addressable opportunity across six markets; apparel is the most penetrated category at ~40%.
Intelligent Labels delivered ~12% organic sales CAGR from 2019–2025; long-term organic sales growth target is ~15%+ as RFID adoption expands.
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Latest events from Avery Dennison
- Acquisitions lifted sales, but lower margins and integration costs tempered FY02 gains.AVY
Q4 2002 - Sales grew 15%, but margin pressure tempered earnings; FY04 depends on recovery and savings.AVYQ4 2003
- Sales and EPS advanced in FY04, but margin pressure and legal risk cloud the growth outlook.AVYQ4 2004
- Sales grew 3%, but net income fell 19% amid volume pressure and major charges.AVYQ4 2005
- Sales and earnings advanced in 2006; 2007 guidance anticipated further growth and cash flow gains.AVYQ4 2006
- Paxar drove 13% sales growth, while debt and integration costs pressured FY07 earnings.AVYQ4 2007
- A steep impairment-driven FY loss contrasted with Q4 profit and stronger free cash flow.AVYQ4 2009
- Acquisitions lifted sales, but recession cut organic demand and earnings; major cost actions followed.AVYQ4 2008
- Demand recovery lifted FY2010 sales 9% and restored profitability; inflation clouds 2011 growth.AVYQ4 2010
- Organic growth and productivity lifted FY12 results as a major divestiture remained pending.AVYQ4 2012
Next Avery Dennison earnings date
Q4 20263 Feb, 2027
Avery Dennison
Next Avery Dennison earnings date
Q4 20263 Feb, 2027
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Frequently asked questions
Adhesives, Adhesives, Adhesives
Avery Dennison is an American company headquartered in Mentor, Ohio, and operating globally. The company produces a wide range of products with adhesive materials such as labels, brandings, RFID inlays, tags, and similar items. Its products are used in everything from retail sales to medical products, and Avery Dennison is one of the leaders in the materials science field. The company had its IPO in 1961, and today its shares trade on the NYSE.
R. Stanton Avery
Avery Dennison Corporation traces its roots back to 1935 when R. Stanton Avery invented the first self-adhesive label. The company quickly expanded from this point onward, creating a wide array of products utilizing Stanton Avery’s invention. An important milestone came in 1990 when the company merged with Dennison Manufacturing, a firm established in the 19th century that specialized in ticketing, tagging, and labeling systems. The combined entity, Avery Dennison, expanded its product range to include diverse offerings such as RFID-based solutions and packaging materials.
The Products
Over the years, the company's product portfolio has been used in various diverse sectors, from fashion and food to electronics and automotive. Avery Dennison Corporation produces a wide range of products primarily centered on adhesive materials, labels, and branding solutions. One of its core product lines is pressure-sensitive materials, which include self-adhesive labels used for product branding, barcoding, and tracking across various industries. The company also produces functional and decorative graphics solutions, suitable for vehicles, architectural design, and digital signages. Additionally, they provide tapes, fasteners, and adhesives designed for industrial, medical, and consumer applications. In the pursuit of greener business practices and sustainability, Avery Dennison has introduced environmentally friendly products, which focus on reducing waste and promoting recyclability.
Avery Dennison is one of the leaders in its field, but it’s not alone in producing these types of products. When looking at the company’s peers, one finds names like 3M and CCL among the competition.
RFID
Avery Dennison's RFID (Radio Frequency Identification) solutions represent a significant facet of its product portfolio, primarily designed to enhance supply chain visibility, inventory management, and loss prevention for retailers and other industries. These RFID tags and labels are embedded with tiny electronic devices that store and transmit information when activated by a radio frequency scanner.