AVY · 10-Q · 2026Q3 · Full report

Liquidity and Debt Position

Avery Dennison Corp · 2026-11-03 · Importance 42 · Surprise 14

Cash and cash equivalents were $271.4 million at September 30, 2026, and the $1.20 billion revolving credit facility had no outstanding balance. Carrying-value debt declined approximately $118 million during the first nine months of 2026 to $3.62 billion, primarily due to lower commercial-paper borrowings and revaluation of euro-denominated debt. Operating cash flow was $843.5 million for the nine-month period, and the company reported that its Revolver and other credit facilities were available to meet short-term funding needs if commercial-paper access became limited. Most cash was held by foreign subsidiaries, primarily in Asia Pacific.

Key facts

• Avery Dennison issued €500 million of senior notes in September 2025, due September 11, 2035, bearing interest at 4.000% per year, payable annually in arrears. source
• Avery Dennison had $271.4 million of cash and cash equivalents as of September 30, 2026, with the majority held by foreign subsidiaries, primarily in Asia Pacific. source
• Avery Dennison's carrying value of total debt decreased by approximately $118 million in the first nine months of 2026 to $3.62 billion, primarily due to lower commercial paper borrowings and revaluation of euro-denominated debt. source
• Avery Dennison had no balance outstanding under its $1.20 billion revolving credit facility as of September 30, 2026 or December 31, 2025. source
• Avery Dennison's net proceeds from its September 2025 senior-note issuance were approximately €494 million ($577 million), and were used for general corporate purposes, including financing the Taylor Adhesives acquisition and repaying commercial paper indebtedness. source