Avery Dennison (Avery Dennison) EBIT : $882 Mil (TTM As of Mar. 2024)

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What is Avery Dennison EBIT?

Avery Dennison's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2024 was $263 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2024 was $882 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Avery Dennison's annualized ROC % for the quarter that ended in Mar. 2024 was 11.39%. Avery Dennison's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 49.03%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Avery Dennison's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 4.29%.

Avery Dennison EBIT Historical Data

The historical data trend for Avery Dennison's EBIT 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.

* Premium members only.

Avery Dennison EBIT Chart

Avery Dennison Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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325.30

807.30

1,062.80

1,083.40

813.70

Avery Dennison Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
EBIT	Get a 7-Day Free Trial															194.70	172.10	215.60	231.30	263.00

Competitive Comparison of Avery Dennison's EBIT

For the Packaging & Containers subindustry, Avery Dennison's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT 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's EV-to-EBIT Distribution in the Packaging & Containers Industry

For the Packaging & Containers industry and Consumer Cyclical sector, Avery Dennison's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Avery Dennison's EV-to-EBIT falls into.

Avery Dennison EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $882 Mil.

Avery Dennison (NYSE:AVY) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Avery Dennison's annualized ROC % for the quarter that ended in Mar. 2024 is calculated as:

	ROC % (Q: Mar. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2023 )	+	Invested Capital (Q: Mar. 2024 ))	/ count )
=	1068 * ( 1 - 26.45% )	/	( (6422.8	+	7375.1)	/ 2 )
=	785.514	/	6898.95
=	11.39 %

where

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	8209.8	-	1690.5	-	( 215	-	max(0, 2699.5	-	2796	+	215	))
=	6422.8

	Invested Capital		(Q: Mar. 2024 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	8255.2	-	1301.5	-	( 185.7	-	max(0, 3308.2	-	2886.8	+	185.7	))
=	7375.1

Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.

2. Joel Greenblatt's definition of Return on Capital:

Avery Dennison's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2023		Q: Mar. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	1052	/	( ( (1625.8 + max(503.7, 0))	+	(1598.2 + max(563.4, 0)) )	/	2 )
=	1052	/	( ( 2129.5	+	2161.6 )	/	2 )
=	1052	/	2145.55
=	49.03 %

where Working Capital is:

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1414.9	+	920.7	+	245.4)	-	(1690.5	+	0	+	386.8)
=	503.7

	Working Capital		(Q: Mar. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1478	+	972.5	+	250.6)	-	(1301.5	+	0	+	836.2)
=	563.4

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Avery Dennison's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2024 )
	=	882	/	20540.509
	=	4.29 %

Avery Dennison EBIT Related Terms

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Avery Dennison (Avery Dennison) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Packaging & Containers » Avery Dennison Corp (NYSE:AVY) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

AV3:Germany AVY:Argentina

Address

8080 Norton Parkway, Mentor, OH, USA, 44060

Website

https://www.averydennison.com

Avery Dennison manufactures pressure-sensitive materials, merchandise tags, and labels. The company also runs a specialty converting business that produces radio-frequency identification, or RFID, inlays and labels. Avery Dennison draws a significant amount of revenue from outside the United States, with international operations accounting for the majority of total sales.

Executives

Ignacio J Walker	officer: VP and Chief Legal Officer	207 GOODE AVE, GLENDALE CA 91203
Divina Fe Santiago	officer: VP Controller	8080 NORTON PARKWAY, MENTOR OH 44060
Julia A Stewart	director	4551 WEST 107TH STREET STE 100, C/O APPLEBEES INTERNATIONAL INC, OVERLAND PARK KS 66207
Francisco Melo	officer: President, Solutions Group	8080 NORTON PARKWAY, MENTOR OH 44060
Hassan Rmaile	officer: President, Materials Group	1200 WILLOW LAKE BLVD, P.O. BOX 64683, ST. PAUL MN 55110
Andres Alberto Lopez	director	ONE MICHAEL OWENS WAY, PERRYSBURG OH 43551
Francesca Reverberi	director	C/O TRINSEO S.A., 1000 CHESTERBROOK BLVD., SUITE 300, BERWYN PA 19312
Anthony Anderson	director	1100 N. WOOD DALE ROAD, WOOD DALE IL 60191
Martha N. Sullivan	director	529 PLEASANT STREET, MS B-7, ATTLEBORO MA 02703
William Raymond Wagner	director	C/O VOCUS, INC., 4296 FORBES BOULEVARD, LANHAM MD 20706
Bradley A Alford	director	150 N ORANGE GROVE BLVD, PASADENA CA 91103
Deena Baker-nel	officer: VP & Chief HR Officer	207 GOODE AVE, GLENDALE CA 91203
Gregory Lovins	officer: V.P. and Interim CFO	207 GOODE AVENUE, GLENDALE CA 91203
Ken C Hicks	director	150 N. ORANGE GROVE BLVD, PASADENA CA 91103
Nicholas Colisto	officer: VP & Chief Information Officer	C/O AVERY DENNISON CORPORATION, 207 GOODE AVE, GLENDALE CA 91203