Avery Dennison Corporation (AVY) Stock Analysis & Winston Score

Avery Dennison makes the sticky labels and tags you see on almost everything — food packaging, clothing, bottles, and shipping boxes. Its two main businesses are pressure-sensitive materials (the adhesive label stock sold to printers and manufacturers) and intelligent labels, which includes the small RFID tags sewn into apparel that retailers use to track inventory. The company supplies brands, retailers, and packaging companies across dozens of industries worldwide. Avery Dennison earns money by selling rolls of label material and RFID inlays in large volumes to business customers, not directly to consumers. It operates globally, with significant revenue from Europe and Asia, and generates roughly $9 billion in annual sales. Its moat comes from deep customer relationships, proprietary adhesive technology, and a global manufacturing footprint that is hard for smaller competitors to replicate. The key growth driver is RFID adoption — more retailers are requiring suppliers to tag every item, which could meaningfully expand that higher-margin segment over the next several years.