Avery Dennison Corporation AVY

Revenue Intelligence Report • 11 quarters of SEC filing data • Updated 2026-03-06

Avery Dennison Corporation's revenue is primarily driven by its SG&A spending, which generates a modest long-run revenue increase, while R&D spending has a negative impact on revenue. With a recent quarterly revenue of $1,552 million and a forecasted full-year revenue of $6 billion, reflecting a 2.9% decline year-over-year, the company faces challenges in maintaining growth. Despite a solid model accuracy of 1.7% MAPE, the holdout test indicated a 3.1% error in predictions, highlighting the need for careful monitoring of spending strategies. Investors should consider the implications of the company's spending efficiency and revenue outlook as they evaluate future performance.

Next FY Revenue

$5.81B

-2.9% YoY

R&D Multiplier

$-14.39 per $1

SG&A Multiplier

$0.03 per $1

Model Accuracy

1.7% MAPE

Holdout validation: The model predicted $2B vs the actual $2B — an error of 3.1%.

⚠ Model limitation: This company shows negative spending multipliers, meaning increases in spending have not directly translated into revenue growth. This typically occurs with commodity-driven companies or hypergrowth companies.

Revenue Forecast

Quarterly Detail

Quarter	Model Forecast	Actual	95% Range	YoY Growth	Status
Q2 2013	$2B	$2B	$1B – $2B	+4.2%	✓ In range
Q3 2013	$1B		$1B – $2B	-2.6%
Q4 2013	$1B		$1B – $2B	+1.0%
Q1 2014	$1B		$1B – $2B	-3.1%
Q2 2014	$1B		$1B – $2B	-6.7%

How Spending Drives Revenue

Reading this chart: Each line shows the cumulative revenue generated per $1 spent over subsequent quarters. The effect builds over 4-5 quarters as investments mature.

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