TacticScaleWhat Avery Dennison Does & How It Makes Money (AVY)
Updated October 2026 · reflects Avery Dennison's latest reported financials
Maker of adhesive label materials, graphics films, and RFID tags. It sells pressure-sensitive materials, films, and tapes to label converters, printers, sign shops, and manufacturers.
How Avery Dennison makes money
It sells pressure-sensitive materials, films, and tapes to label converters, printers, sign shops, and manufacturers. It also sells branding, labeling, and RFID tracking solutions to apparel brands, retailers, and other consumer-goods and industrial customers.
What Avery Dennison does
Avery Dennison is a materials science and digital identification company founded in 1935 and headquartered in Mentor, Ohio. Its largest area is pressure-sensitive materials: label stock made of paper, film, and foil, along with performance tapes and fasteners, sold under the Fasson, JAC, and Avery Dennison brands. It also makes graphics and reflective films for signs, digital printing, vehicle fleets, construction, and traffic safety, including products sold under the Mactac brand. Its second area is solutions for apparel and retail. These include brand embellishments, tickets, tags, sustainable packaging, and care and country-of-origin compliance labels. It also offers item-level RFID, loss prevention, and brand protection, plus Vestcom shelf-edge solutions for stores. Customers include home and personal care, apparel, retail, e-commerce, logistics, food and grocery, pharmaceutical, and automotive businesses in North America, Europe, Asia, and Latin America.
Products & services
- Fasson pressure-sensitive label materials
- Mactac graphics and vinyl films
- Reflective films for traffic and safety
- Item-level RFID solutions
- Apparel tags, tickets and brand embellishments
- Vestcom shelf-edge solutions
What is Avery Dennison worth?
On an owner-earnings DCF, Avery Dennison's most-likely value is about $220 versus a recent price near $168 (31% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$125) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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