Avery DennisonBUE:AVY 76 Piotroski F-Score is 6 as of Jun. 27, 2026, which is at its 10-year median of 6.00. GuruFocus rates BUE:AVY with a GF Score™ of 76/100 and a GF Value™ of ARS17,199.92 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 389 Packaging & Containers companies, Avery Dennison ranks better than 76.86% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Avery Dennison has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Avery Dennison's Piotroski F-Score or its related term are showing as below:
BUE:AVY'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 6 Max: 9
Current: 6
During the past 13 years, the highest Piotroski F-Score of Avery Dennison was 9. The lowest was 4. And the median was 6.
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Avery Dennison Piotroski F-Score Related Terms
Avery Dennison Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Avery Dennison's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
BUE:AVY vs CCK, BALL, IP: Piotroski F-Score Comparison
For the Packaging & Containers subindustry, Avery Dennison's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Avery Dennison Piotroski F-Score vs Packaging & Containers Industry
For the Packaging & Containers industry and Consumer Cyclical sector, Avery Dennison's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Avery Dennison's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was 224387.076 + 225837.462 + 241527.768 + 235045 = ARS926,797 Mil. Cash Flow from Operations was 247894.294 + 423835.671 + 546921.051 + 190860.455 = ARS1,409,511 Mil. Revenue was 2636251.335 + 3008676.477 + 3296621.79 + 3213866.341 = ARS12,155,416 Mil. Gross Profit was 758760.742 + 862337.875 + 944483.885 + 929553.336 = ARS3,495,136 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(8906418.8 + 10172451.559 + 12041360.169 + 12775570.627 + 12554283.37) / 5 = ARS11290016.905 Mil. Total Assets at the begining of this year (Mar25) was ARS8,906,419 Mil. Long-Term Debt & Capital Lease Obligation was ARS4,453,550 Mil. Total Current Assets was ARS4,501,650 Mil. Total Current Liabilities was ARS3,914,667 Mil.
Net Income was 158324.398 + 172705.842 + 175740.002 + 177281.943 = ARS684,052 Mil.
Revenue was 2001711.121 + 2075321.609 + 2207557.022 + 2290167.152 = ARS8,574,757 Mil. Gross Profit was 593447.842 + 595583.274 + 615292.006 + 662541.957 = ARS2,466,865 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(6955006.118 + 7431037.994 + 8033530.597 + 8488242.085 + 8906418.8) / 5 = ARS7962847.1188 Mil. Total Assets at the begining of last year (Mar24) was ARS6,955,006 Mil. Long-Term Debt & Capital Lease Obligation was ARS2,752,081 Mil. Total Current Assets was ARS3,230,518 Mil. Total Current Liabilities was ARS3,147,794 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Avery Dennison's current Net Income (TTM) was 926,797.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Avery Dennison's return on assets of this year was 0.10405948. Avery Dennison's return on assets of last year was 0.09835393.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Avery Dennison's gearing of this year was 0.394468. Avery Dennison's gearing of last year was 0.34561519.
==> Last year is lower than this year ==> Score 0.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Avery Dennison's current ratio of this year was 1.14994464. Avery Dennison's current ratio of last year was 1.02628014.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Avery Dennison's number of shares in issue this year was 25.667. Avery Dennison's number of shares in issue last year was 26.467.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Avery Dennison's gross margin of this year was 0.28753733. Avery Dennison's gross margin of last year was 0.28768921.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Avery Dennison's asset turnover of this year was 1.36479277. Avery Dennison's asset turnover of last year was 1.23288992.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Avery Dennison has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Avery Dennison (BUE:AVY) has a Piotroski F-Score of 6 as of Jun. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Avery Dennison and its competitors. This is near median its historical median of 6.00. Over the past decade, Avery Dennison's Piotroski F-Score has ranged from 4.00 to 9.00. According to the industry distribution chart, Avery Dennison ranks #90 out of 389 companies in the Packaging & Containers industry, placing it in the top 23.1%.
Is Avery Dennison's Piotroski F-Score too high?
Avery Dennison's current Piotroski F-Score of 6 is near median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 9.00. The Packaging & Containers industry median Piotroski F-Score is 5.00. Avery Dennison's value of 6 is 20% above this industry median. Based on the distribution chart, Avery Dennison ranks #90 out of 389 companies in the Packaging & Containers industry, which is in the top quartile — a strong position relative to peers. Overall, Avery Dennison has a GF Score™ of 76/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Avery Dennison's Piotroski F-Score compare to CCK and BALL?
According to the Packaging & Containers industry distribution chart, Avery Dennison ranks #90 out of 389 companies for Piotroski F-Score. This places Avery Dennison in the top 23% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Avery Dennison's value of 6 is 20% above this benchmark. Historically, Avery Dennison's own Piotroski F-Score has ranged from 4.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Avery Dennison has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Packaging & Containers company?
The median Piotroski F-Score among Packaging & Containers companies is 5.00, based on 389 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Avery Dennison's current Piotroski F-Score of 6 is 20% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Avery Dennison and its competitors. For the Packaging & Containers industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Avery Dennison's current Piotroski F-Score is 6, which is near median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Avery Dennison stock overvalued right now?
Based on GuruFocus' analysis, Avery Dennison (BUE:AVY) is currently considered Modestly Undervalued. The stock's GF Value™ is ARS17,199.92, compared to a current price of ARS14,080.00 — trading 18.1% below its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 20% above the Packaging & Containers industry median of 5.00. Avery Dennison's overall GF Score™ is 76/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Avery Dennison (BUE:AVY), the current Piotroski F-Score is 6 as of Jun. 27, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Avery Dennison (BUE:AVY) Overvalued in 2026?
Based on GuruFocus' analysis, Avery Dennison stock appears to be undervalued.
The current stock price of ARS14,080.00 is trading 18.1% below its estimated GF Value™ of ARS17,199.92.
GuruFocus considers Avery Dennison to be Modestly Undervalued.
Key valuation signals for BUE:AVY:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: ARS17,199.92 vs. price of ARS14,080.00 (18.1% below fair value)
Industry Position: 20% above the Packaging & Containers median (#90 of 389)
No single metric tells the full story. See the BUE:AVY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Avery Dennison Corp provides materials science and digital identification solutions, offering labeling and functional materials, RFID inlays and tags, software connecting physical and digital, and products that enhance packaging and customer experience. Serving industries including retail, apparel, e-commerce, logistics, food, pharmaceuticals, and automotive it operates through two reportable segments: Materials Group, which manufactures and sells pressure-sensitive label materials, graphics, reflective products, performance tapes, and other adhesive solutions, and earns the majority of revenue; and Solutions Group, which provides brand and price tickets, tags, labels with RFID inlays, and related services, supplies, and equipment.
76GF Score
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