Avery DennisonMEX:AVY 85 ROC (Joel Greenblatt) % is 47.96% as of Mar. 2026, which is 4% below its 10-year median of 50.01. GuruFocus rates MEX:AVY with a GF Score™ of 85/100 and a GF Value™ of MXN5,637.93. The stock has 2 warning signs investors should review. Among 399 Packaging & Containers companies, Avery Dennison ranks better than 95.99% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Avery Dennison's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 47.96%.
The historical rank and industry rank for Avery Dennison's ROC (Joel Greenblatt) % or its related term are showing as below:
MEX:AVY'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 22.53 Med: 50.01 Max: 61.31
Current: 45.93
During the past 13 years, Avery Dennison's highest ROC (Joel Greenblatt) % was 61.31%. The lowest was 22.53%. And the median was 50.01%.
MEX:AVY's ROC (Joel Greenblatt) % is ranked better than 95.99% of 399
companies
in the Packaging & Containers industry
Industry Median: 8.95
vs MEX:AVY: 45.93
Avery Dennison's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -3.30% per year.
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Avery Dennison ROC (Joel Greenblatt) % Related Terms
Avery Dennison ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Avery Dennison's ROC (Joel Greenblatt) % 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.
MEX:AVY vs CCK, BALL, REYN: ROC (Joel Greenblatt) % Comparison
For the Packaging & Containers subindustry, Avery Dennison's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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 ROC (Joel Greenblatt) % vs Packaging & Containers Industry
For the Packaging & Containers industry and Consumer Cyclical sector, Avery Dennison's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Avery Dennison's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* 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.
What does a ROC (Joel Greenblatt) % of 47.96% mean?
Avery Dennison (MEX:AVY) has a ROC (Joel Greenblatt) % of 47.96% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Avery Dennison and its competitors. This is near median its historical median of 50.01. Over the past decade, Avery Dennison's ROC (Joel Greenblatt) % has ranged from 22.53 to 61.31. According to the industry distribution chart, Avery Dennison ranks #16 out of 399 companies in the Packaging & Containers industry, placing it in the top 4%.
Is Avery Dennison's ROC (Joel Greenblatt) % too high?
Avery Dennison's current ROC (Joel Greenblatt) % of 47.96% is near median its 10-year median of 50.01. Over the past 10 years, this metric has ranged from a low of 22.53 to a high of 61.31. The Packaging & Containers industry median ROC (Joel Greenblatt) % is 8.95. Avery Dennison's value of 47.96% is 435.9% above this industry median. Based on the distribution chart, Avery Dennison ranks #16 out of 399 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 85/100, reflecting its overall financial health beyond just this single metric.
How does Avery Dennison's ROC (Joel Greenblatt) % compare to CCK and BALL?
According to the Packaging & Containers industry distribution chart, Avery Dennison ranks #16 out of 399 companies for ROC (Joel Greenblatt) %. This places Avery Dennison in the top 4% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 8.95. Avery Dennison's value of 47.96% is 435.9% above this benchmark. Historically, Avery Dennison's own ROC (Joel Greenblatt) % has ranged from 22.53 to 61.31 over the past decade. While the company's 10-year median is 50.01 vs. the industry median of 8.95, 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 ROC (Joel Greenblatt) % for a Packaging & Containers company?
The median ROC (Joel Greenblatt) % among Packaging & Containers companies is 8.95, based on 399 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Avery Dennison's current ROC (Joel Greenblatt) % of 47.96% is 435.9% 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 ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Avery Dennison and its competitors. For the Packaging & Containers industry, the median ROC (Joel Greenblatt) % is 8.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Avery Dennison's current ROC (Joel Greenblatt) % is 47.96%, which is near median its own 10-year median of 50.01. 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?
Avery Dennison (MEX:AVY) has a current ROC (Joel Greenblatt) % of 47.96%. The stock's GF Value™ is MXN5,637.93, compared to a current price of MXN4,390.00 — trading 22.1% below its estimated fair value. The current ROC (Joel Greenblatt) % is 47.96%, which is near median its 10-year median of 50.01 and 435.9% above the Packaging & Containers industry median of 8.95. Avery Dennison's overall GF Score™ is 85/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Avery Dennison (MEX:AVY), the current ROC (Joel Greenblatt) % is 47.96% as of Mar. 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 (MEX:AVY) Overvalued in 2026?
Based on GuruFocus' analysis, Avery Dennison stock appears to be undervalued.
The current stock price of MXN4,390.00 is trading 22.1% below its estimated GF Value™ of MXN5,637.93.
Key valuation signals for MEX:AVY:
ROC (Joel Greenblatt) %: 47.96% (near median its 10-year median of 50.01)
GF Value™: MXN5,637.93 vs. price of MXN4,390.00 (22.1% below fair value)
Industry Position: 435.9% above the Packaging & Containers median (#16 of 399)
No single metric tells the full story. See the MEX: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.
85GF Score
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