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Dolby Laboratories (DLB) Financials

Dolby Laboratories logo
$73.25 -0.81 (-1.09%)
Closing price 06/18/2025 03:59 PM Eastern
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$73.34 +0.09 (+0.12%)
As of 06/18/2025 05:10 PM Eastern
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Annual Income Statements for Dolby Laboratories

Annual Income Statements for Dolby Laboratories

This table shows Dolby Laboratories' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 9/25/2015 9/30/2016 9/29/2017 9/28/2018 9/27/2019 9/25/2020 9/24/2021 9/30/2022 9/29/2023 9/27/2024
Net Income / (Loss) Attributable to Common Shareholders		 181 186 206 42 255 231 310 184 201 262
Consolidated Net Income / (Loss)		 183 186 207 42 256 232 318 184 202 264
Net Income / (Loss) Continuing Operations		 183 186 2,130 1,896 256 232 318 184 202 264
Total Pre-Tax Income 		246 236 255 196 282 240 355 215 250 312
Total Operating Income		 213 232 247 184 257 219 344 207 216 258
Total Gross Profit		 876 917 1,923 1,854 1,081 1,015 1,151 1,112 1,147 1,133
Total Revenue		 971 1,026 2,160 2,109 1,242 1,162 1,281 1,254 1,300 1,274
Operating Revenue		 971 1,026 2,160 2,109 1,242 1,162 1,281 1,254 1,300 1,274
Total Cost of Revenue		 95 109 237 255 161 146 130 141 153 140
Operating Cost of Revenue		 95 109 237 255 161 146 130 141 153 140
Total Operating Expenses		 663 685 -247 -184 824 797 807 906 931 875
Selling, General & Admin Expense		 182 169 172 197 205 220 224 275 258 270
Marketing Expense		 279 295 297 310 344 336 333 359 354 334
Research & Development Expense		 201 220 233 237 238 239 254 261 272 264
Restructuring Charge		 -0.08 1.23 13 -0.45 37 1.82 10 11 47 6.38
Total Other Income / (Expense), net		 33 4.11 8.01 13 25 21 10 8.67 34 54
Interest Expense		 0.18 0.13 0.13 0.20 0.17 0.19 -3.01 -6.17 -28 -34
Other Income / (Expense), net		 28 -1.45 -1.44 -5.90 0.48 8.43 7.11 2.50 6.21 20
Income Tax Expense		 63 50 48 154 27 8.10 37 31 48 48
Net Income / (Loss) Attributable to Noncontrolling Interest		 1.85 0.54 0.63 0.56 0.35 0.26 7.60 -0.19 0.99 2.49
Basic Earnings per Share		 $1.77 $1.85 $2.03 $0.40 $2.51 $2.30 $3.07 $1.84 $2.10 $2.74
Weighted Average Basic Shares Outstanding		 102.35M 100.72M 101.78M 103.38M 101.63M 100.56M 101.19M 99.99M 95.77M 95.54M
Diluted Earnings per Share		 $1.75 $1.81 $2.00 $0.39 $2.44 $2.25 $2.97 $1.81 $2.05 $2.69
Weighted Average Diluted Shares Outstanding		 103.86M 102.42M 103.29M 106.98M 104.57M 102.94M 104.62M 101.98M 97.73M 97.33M
Weighted Average Basic & Diluted Shares Outstanding		 102.50M 100.50M 101.90M 104.40M 101.70M 100.35M 101.16M 95.96M 95.28M 95.44M
Cash Dividends to Common per Share		 $0.82 $0.98 $1.14 $1.31 $1.55 $0.88 $0.88 $2.02 $2.19 $2.43

Quarterly Income Statements for Dolby Laboratories

This table shows Dolby Laboratories' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 9/30/2022 12/30/2022 3/31/2023 6/30/2023 9/29/2023 12/29/2023 3/29/2024 6/28/2024 9/27/2024 12/27/2024 3/28/2025
Net Income / (Loss) Attributable to Common Shareholders		 28 79 96 16 9.19 67 98 38 59 68 92
Consolidated Net Income / (Loss)		 28 79 96 16 9.91 68 98 40 59 68 92
Net Income / (Loss) Continuing Operations		 28 79 96 16 9.91 68 98 40 59 68 92
Total Pre-Tax Income 		31 100 117 24 9.03 81 122 50 60 86 120
Total Operating Income		 27 94 109 16 -3.49 66 109 37 46 80 108
Total Gross Profit		 241 300 335 257 255 284 326 253 271 316 334
Total Revenue		 278 335 376 298 291 316 365 289 305 357 370
Operating Revenue		 278 335 376 298 291 316 365 289 305 357 370
Total Cost of Revenue		 37 34 41 42 36 32 39 36 34 41 36
Operating Cost of Revenue		 37 34 41 42 36 32 39 36 34 41 36
Total Operating Expenses		 214 206 226 241 259 217 217 216 224 236 226
Selling, General & Admin Expense		 57 60 62 70 67 65 67 69 69 70 70
Marketing Expense		 90 82 96 86 91 79 90 78 88 94 90
Research & Development Expense		 62 64 68 69 70 67 62 66 69 67 62
Restructuring Charge		 4.58 -0.24 0.03 17 31 6.09 -2.50 4.08 -1.29 5.22 4.21
Total Other Income / (Expense), net		 3.87 5.89 8.06 7.82 13 15 13 13 13 6.17 12
Interest & Investment Income		 - 4.80 6.81 7.20 - 9.19 8.60 9.44 - 2.65 3.56
Other Income / (Expense), net		 0.67 1.10 1.25 0.62 3.25 5.43 4.18 3.94 6.53 3.53 8.93
Income Tax Expense		 3.22 21 21 7.35 -0.88 13 24 11 0.87 18 28
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.00 0.07 0.19 0.01 0.72 0.60 0.38 1.21 0.30 0.25 0.43
Basic Earnings per Share		 $0.29 $0.83 $1.00 $0.17 $0.10 $0.70 $1.02 $0.40 $0.62 $0.71 $0.95
Weighted Average Basic Shares Outstanding		 99.99M 95.91M 95.82M 95.66M 95.77M 95.38M 95.72M 95.69M 95.54M 95.62M 96.33M
Diluted Earnings per Share		 $0.29 $0.82 $0.98 $0.17 $0.08 $0.69 $1.01 $0.40 $0.59 $0.70 $0.94
Weighted Average Diluted Shares Outstanding		 101.98M 97.05M 97.30M 97.46M 97.73M 97.44M 96.86M 96.96M 97.33M 97.15M 97.47M
Weighted Average Basic & Diluted Shares Outstanding		 95.96M 95.82M 95.51M 95.64M 95.28M 95.58M 95.84M 95.35M 95.44M 96.38M 96.07M
Cash Dividends to Common per Share		 $0.52 $0.54 $0.54 $0.54 $0.57 $0.60 $0.60 $0.60 $0.63 $0.66 $0.66

Annual Cash Flow Statements for Dolby Laboratories

This table details how cash moves in and out of Dolby Laboratories' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 9/25/2015 9/30/2016 9/29/2017 9/28/2018 9/27/2019 9/25/2020 9/24/2021 9/30/2022 9/29/2023 9/27/2024
Net Change in Cash & Equivalents		 -37 -16 115 291 -120 274 153 -605 190 -240
Net Cash From Operating Activities		 309 360 378 352 328 344 448 319 367 327
Net Cash From Continuing Operating Activities		 309 360 378 352 328 344 448 319 367 327
Net Income / (Loss) Continuing Operations		 183 186 207 42 256 232 318 184 202 264
Consolidated Net Income / (Loss)		 183 186 207 42 256 232 318 184 202 264
Depreciation Expense		 69 85 84 81 85 91 96 88 83 76
Amortization Expense		 9.16 3.82 2.76 2.47 0.36 22 18 17 12 8.85
Non-Cash Adjustments To Reconcile Net Income		 43 70 64 79 58 140 56 122 123 90
Changes in Operating Assets and Liabilities, net		 4.38 15 20 147 -72 -140 -41 -92 -52 -111
Net Cash From Investing Activities		 -204 -282 -158 78 -56 134 -45 -296 54 -286
Net Cash From Continuing Investing Activities		 -204 -282 -158 78 -56 134 -45 -296 54 -286
Purchase of Property, Plant & Equipment		 -158 -101 -100 -73 -96 -66 -54 -48 -30 -30
Acquisitions		 -131 -121 0.00 -23 -15 0.00 -4.50 -38 26 -488
Purchase of Investments		 -393 -426 -290 -174 -265 -288 -67 -316 -173 -160
Sale and/or Maturity of Investments		 451 366 236 360 338 491 65 118 232 392
Other Investing Activities, net		 -0.79 -0.71 -5.25 -13 -17 -2.64 0.00 -12 0.00 0.00
Net Cash From Financing Activities		 -139 -92 -107 -134 -385 -208 -253 -611 -237 -288
Net Cash From Continuing Financing Activities		 -139 -92 -107 -134 -385 -208 -253 -611 -237 -289
Repurchase of Common Equity		 -123 -114 -118 -173 -363 -197 -278 -567 -180 -199
Payment of Dividends		 -47 -49 -59 -67 -79 -89 -97 -102 -104 -130
Other Financing Activities, net		 31 71 70 106 57 78 122 58 47 40
Effect of Exchange Rate Changes		 -3.81 -1.40 1.68 -5.78 -5.82 3.94 2.72 -17 5.12 6.64
Cash Income Taxes Paid		 52 55 57 61 60 53 71 40 61 63

Quarterly Cash Flow Statements for Dolby Laboratories

This table details how cash moves in and out of Dolby Laboratories' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 9/30/2022 12/30/2022 3/31/2023 6/30/2023 9/29/2023 12/29/2023 3/29/2024 6/28/2024 9/27/2024 12/27/2024 3/28/2025
Net Change in Cash & Equivalents		 -239 3.11 62 106 19 -109 116 -46 -201 34 139
Net Cash From Operating Activities		 51 56 105 121 85 8.41 181 21 116 107 175
Net Cash From Continuing Operating Activities		 51 56 105 121 85 8.41 181 21 116 107 175
Net Income / (Loss) Continuing Operations		 28 79 96 16 9.91 68 98 40 59 68 92
Consolidated Net Income / (Loss)		 28 79 96 16 9.91 68 98 40 59 68 92
Depreciation Expense		 19 19 21 21 21 18 18 18 21 22 22
Amortization Expense		 3.82 3.29 3.31 3.05 2.45 2.19 1.90 2.07 2.69 2.84 2.89
Non-Cash Adjustments To Reconcile Net Income		 23 -11 -36 122 48 -6.78 49 23 24 7.84 13
Changes in Operating Assets and Liabilities, net		 -22 -34 20 -41 3.17 -72 14 -62 8.90 5.67 46
Net Cash From Investing Activities		 -41 28 24 22 -20 0.63 -18 -7.74 -261 -8.14 26
Net Cash From Continuing Investing Activities		 -41 28 24 22 -20 0.63 -18 -7.74 -261 -8.14 26
Purchase of Property, Plant & Equipment		 -11 -7.22 -7.52 -7.41 -8.19 -6.10 -8.92 -7.61 -7.38 -6.78 -6.90
Sale and/or Maturity of Investments		 33 108 39 46 38 42 59 43 247 0.00 16
Net Cash From Financing Activities		 -242 -90 -67 -37 -43 -125 -44 -58 -60 -58 -65
Net Cash From Continuing Financing Activities		 -242 -90 -67 -37 -43 -125 -45 -58 -61 -58 -65
Repurchase of Common Equity		 -222 -74 -52 -27 -28 -115 -26 -36 -22 -47 -37
Payment of Dividends		 -24 -26 -26 -26 -26 -30 -29 -32 -39 -32 -32
Other Financing Activities, net		 4.25 10 10 16 11 19 10 11 -0.01 22 3.97
Cash Income Taxes Paid		 10 13 15 13 21 12 27 12 12 11 33

Annual Balance Sheets for Dolby Laboratories

This table presents Dolby Laboratories' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 9/25/2015 9/30/2016 9/29/2017 9/28/2018 9/27/2019 9/25/2020 9/24/2021 9/30/2022 9/29/2023 9/27/2024
Total Assets		 2,133 2,310 2,534 2,865 2,822 2,917 3,106 2,690 2,980 3,110
Total Current Assets		 821 760 1,011 1,497 1,382 1,547 1,760 1,311 1,488 1,194
Cash & Equivalents		 532 516 627 918 797 1,072 1,225 620 745 482
Restricted Cash		 2.94 3.65 7.35 7.19 8.38 8.10 7.65 8.24 73 96
Accounts Receivable		 102 76 74 166 189 180 233 244 262 315
Inventories, net		 14 16 25 26 32 26 11 24 36 34
Prepaid Expenses		 32 26 31 35 40 53 63 50 51 70
Other Current Assets		 - - - 166 196 161 182 176 182 197
Plant, Property, & Equipment, net		 403 444 485 514 537 542 534 513 482 479
Total Noncurrent Assets		 909 1,107 1,037 855 903 828 811 865 1,010 1,436
Long-Term Investments		 321 394 314 188 180 52 63 103 98 89
Goodwill		 308 310 311 328 335 337 341 365 408 533
Intangible Assets		 128 215 190 184 181 152 123 112 167 435
Noncurrent Deferred & Refundable Income Taxes		 143 167 191 75 114 119 156 184 202 220
Other Noncurrent Operating Assets		 9.46 21 31 80 93 168 128 102 135 160
Total Liabilities & Shareholders' Equity		 2,133 2,310 2,534 2,865 2,822 2,917 3,106 2,690 2,980 3,110
Total Liabilities		 317 331 390 495 509 479 501 439 608 623
Total Current Liabilities		 210 213 246 285 307 267 316 278 422 418
Accounts Payable		 21 18 14 22 15 13 18 14 21 17
Accrued Expenses		 169 169 207 243 268 220 263 230 351 348
Current Deferred Revenue		 19 24 23 - - - 18 19 32 32
Current Deferred & Payable Income Tax Liabilities		 0.75 2.30 1.22 2.68 3.51 3.26 1.33 1.27 4.77 9.05
Other Current Liabilities		 - - - 17 20 31 15 13 14 12
Total Noncurrent Liabilities		 108 118 144 210 202 212 186 161 185 205
Noncurrent Deferred Revenue		 31 35 36 - - - 24 23 40 35
Other Noncurrent Operating Liabilities		 77 83 108 210 202 212 162 138 145 171
Total Equity & Noncontrolling Interests		 1,816 1,979 2,144 2,371 2,313 2,438 2,604 2,251 2,372 2,487
Total Preferred & Common Equity		 1,807 1,970 2,137 2,364 2,307 2,433 2,598 2,246 2,355 2,477
Total Common Equity		 1,807 1,970 2,137 2,364 2,307 2,433 2,598 2,246 2,355 2,477
Common Stock		 18 42 61 66 0.10 0.10 0.10 0.09 0.09 0.09
Retained Earnings		 1,801 1,938 2,083 2,314 2,328 2,443 2,608 2,298 2,392 2,496
Accumulated Other Comprehensive Income / (Loss)		 -11 -10 -7.75 -16 -21 -11 -10 -52 -37 -19
Noncontrolling Interest		 8.94 8.48 7.10 6.57 5.68 5.76 6.25 4.84 17 9.73

Quarterly Balance Sheets for Dolby Laboratories

This table presents Dolby Laboratories' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025
Period end date 7/1/2022 12/30/2022 3/31/2023 6/30/2023 12/29/2023 3/29/2024 6/28/2024 12/27/2024 3/28/2025
Total Assets		 2,920 2,749 2,836 3,008 2,936 3,045 2,974 3,159 3,229
Total Current Assets		 1,505 1,349 1,463 1,469 1,451 1,552 1,469 1,286 1,389
Cash & Equivalents		 859 626 688 765 657 710 742 521 627
Restricted Cash		 8.35 5.32 4.98 34 52 115 37 91 124
Accounts Receivable		 236 290 283 267 293 282 286 339 314
Inventories, net		 24 26 30 32 38 36 35 32 35
Prepaid Expenses		 50 53 54 54 54 50 51 82 60
Other Current Assets		 170 216 275 193 218 243 191 221 230
Plant, Property, & Equipment, net		 518 512 508 502 479 481 478 476 473
Total Noncurrent Assets		 897 887 866 1,037 1,005 1,011 1,027 1,397 1,367
Long-Term Investments		 107 124 101 98 93 128 118 86 74
Goodwill		 368 369 370 426 410 409 408 520 525
Intangible Assets		 119 106 99 177 160 152 145 421 412
Noncurrent Deferred & Refundable Income Taxes		 184 192 204 210 207 208 220 227 223
Other Noncurrent Operating Assets		 120 95 92 125 135 114 136 142 133
Total Liabilities & Shareholders' Equity		 2,920 2,749 2,836 3,008 2,936 3,045 2,974 3,159 3,229
Total Liabilities		 460 456 480 625 573 607 526 642 646
Total Current Liabilities		 285 290 314 423 394 443 355 442 457
Accounts Payable		 17 17 17 15 14 20 16 12 17
Accrued Expenses		 229 230 247 347 327 363 281 361 376
Current Deferred Revenue		 21 22 23 37 33 38 33 37 40
Current Deferred & Payable Income Tax Liabilities		 3.85 7.18 14 11 6.19 8.38 12 21 13
Other Current Liabilities		 14 13 13 14 13 14 13 11 11
Total Noncurrent Liabilities		 175 166 166 202 179 164 172 200 189
Noncurrent Deferred Revenue		 24 23 23 42 37 36 36 32 30
Other Noncurrent Operating Liabilities		 151 143 143 161 142 128 136 167 159
Total Equity & Noncontrolling Interests		 2,460 2,293 2,356 2,383 2,362 2,438 2,447 2,517 2,583
Total Preferred & Common Equity		 2,454 2,288 2,351 2,366 2,346 2,421 2,433 2,508 2,574
Total Common Equity		 2,454 2,288 2,351 2,366 2,346 2,421 2,433 2,508 2,574
Common Stock		 0.10 0.10 0.10 0.09 0.09 0.09 0.09 0.10 0.10
Retained Earnings		 2,485 2,319 2,378 2,397 2,367 2,450 2,463 2,543 2,602
Accumulated Other Comprehensive Income / (Loss)		 -30 -32 -27 -31 -21 -29 -30 -36 -28
Noncontrolling Interest		 5.16 4.95 5.21 16 16 17 15 9.06 9.35

Annual Metrics And Ratios for Dolby Laboratories

This table displays calculated financial ratios and metrics derived from Dolby Laboratories' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 9/25/2015 9/30/2016 9/29/2017 9/28/2018 9/27/2019 9/25/2020 9/24/2021 9/30/2022 9/29/2023 9/27/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 1.09% 5.68% 110.61% -2.37% -41.13% -6.43% 10.28% -2.14% 3.67% -2.00%
EBITDA Growth		 -4.63% -0.12% 4.21% -21.46% 31.25% -0.93% 37.01% -32.53% 0.79% 14.59%
EBIT Growth		 -11.43% -4.59% 6.66% -27.71% 45.02% -11.80% 54.73% -40.51% 6.15% 25.43%
NOPAT Growth		 -23.17% 15.21% 9.53% -80.29% 488.55% -9.16% 46.08% -42.84% -1.42% 25.59%
Net Income Growth		 -12.21% 1.73% 11.11% -79.57% 503.96% -9.35% 37.22% -42.14% 9.65% 31.08%
EPS Growth		 -12.06% 3.43% 10.50% -80.50% 525.64% -7.79% 32.00% -39.06% 13.26% 31.22%
Operating Cash Flow Growth		 -14.43% 16.38% 4.92% -6.77% -6.96% 4.94% 30.22% -28.85% 15.23% -10.85%
Free Cash Flow Firm Growth		 -116.99% 311.83% 222.77% -147.00% 211.74% 55.60% 85.74% -61.44% 63.02% -251.40%
Invested Capital Growth		 29.64% 14.88% 0.41% 13.93% 11.99% 4.19% 0.81% 4.83% -1.03% 38.16%
Revenue Q/Q Growth		 0.60% 0.02% 101.45% -1.21% -44.52% -2.32% 1.09% -0.54% 0.96% 1.13%
EBITDA Q/Q Growth		 2.45% -9.22% -2.53% -3.69% 13.41% 2.82% -2.16% -6.36% -7.95% 17.33%
EBIT Q/Q Growth		 1.67% -12.86% -2.85% -5.26% 17.59% -6.80% 2.42% -6.52% -11.21% 23.58%
NOPAT Q/Q Growth		 -10.45% -1.31% 0.61% -0.81% 8.97% -7.32% 6.37% -8.91% -12.48% 27.40%
Net Income Q/Q Growth		 0.30% -10.91% 1.24% 0.56% 7.16% -6.82% 5.74% -8.22% -8.13% 22.73%
EPS Q/Q Growth		 0.00% -10.84% 2.04% 0.00% 7.02% -7.02% 5.69% -6.70% -9.29% 23.39%
Operating Cash Flow Q/Q Growth		 -2.00% -1.95% 1.16% 9.75% 6.07% -4.93% -0.64% -15.51% 10.11% 10.52%
Free Cash Flow Firm Q/Q Growth		 45.27% -4.78% 11.60% -192.03% 174.51% -12.09% -0.98% -29.45% 12.85% -360.23%
Invested Capital Q/Q Growth		 -0.80% -0.63% -2.59% 18.35% -4.39% -3.82% -2.20% 0.17% -3.23% 27.84%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 90.23% 89.38% 89.03% 87.90% 87.04% 87.39% 89.85% 88.73% 88.26% 88.97%
EBITDA Margin		 32.94% 31.13% 15.40% 12.39% 27.63% 29.25% 36.34% 25.06% 24.36% 28.48%
Operating Margin		 21.97% 22.60% 11.44% 8.70% 20.71% 18.83% 26.88% 16.48% 16.60% 20.28%
EBIT Margin		 24.87% 22.46% 11.37% 8.42% 20.74% 19.55% 27.43% 16.68% 17.08% 21.86%
Profit (Net Income) Margin		 18.88% 18.17% 9.59% 2.01% 20.58% 19.94% 24.81% 14.67% 15.51% 20.75%
Tax Burden Percent		 74.55% 79.02% 81.17% 21.54% 90.51% 96.62% 89.65% 85.42% 80.64% 84.59%
Interest Burden Percent		 101.81% 102.41% 103.85% 110.57% 109.61% 105.52% 100.86% 102.95% 112.65% 112.24%
Effective Tax Rate		 25.45% 20.98% 18.83% 78.46% 9.49% 3.38% 10.35% 14.58% 19.36% 15.41%
Return on Invested Capital (ROIC)		 21.86% 20.76% 21.22% 3.90% 20.34% 17.13% 24.42% 13.57% 13.14% 13.93%
ROIC Less NNEP Spread (ROIC-NNEP)		 19.54% 20.44% 20.64% 3.68% 18.43% 15.35% 23.70% 12.92% 10.34% 8.61%
Return on Net Nonoperating Assets (RNNOA)		 -11.53% -10.93% -11.17% -2.03% -9.43% -7.38% -11.81% -6.00% -4.42% -3.05%
Return on Equity (ROE)		 10.33% 9.82% 10.05% 1.87% 10.91% 9.75% 12.61% 7.58% 8.72% 10.88%
Cash Return on Invested Capital (CROIC)		 -3.96% 6.91% 20.81% -9.12% 9.03% 13.02% 23.61% 8.85% 14.17% -18.11%
Operating Return on Assets (OROA)		 11.73% 10.37% 10.15% 6.58% 9.06% 7.92% 11.67% 7.22% 7.83% 9.14%
Return on Assets (ROA)		 8.90% 8.39% 8.55% 1.57% 8.99% 8.07% 10.55% 6.35% 7.11% 8.68%
Return on Common Equity (ROCE)		 10.24% 9.78% 10.01% 1.87% 10.88% 9.73% 12.58% 7.56% 8.68% 10.82%
Return on Equity Simple (ROE_SIMPLE)		 10.14% 9.46% 9.69% 1.79% 11.07% 9.52% 12.23% 8.19% 8.56% 10.67%
Net Operating Profit after Tax (NOPAT)		 159 183 201 40 233 211 309 176 174 219
NOPAT Margin		 16.38% 17.86% 9.29% 1.87% 18.74% 18.19% 24.10% 14.08% 13.39% 17.16%
Net Nonoperating Expense Percent (NNEP)		 2.32% 0.32% 0.58% 0.22% 1.91% 1.78% 0.72% 0.66% 2.80% 5.32%
Cost of Revenue to Revenue		 9.77% 10.62% 10.97% 12.10% 12.96% 12.61% 10.15% 11.27% 11.74% 11.03%
SG&A Expenses to Revenue		 18.77% 16.46% 7.95% 9.36% 16.54% 18.92% 17.50% 21.96% 19.89% 21.23%
R&D to Revenue		 20.74% 21.41% 10.80% 11.23% 19.16% 20.58% 19.80% 20.83% 20.89% 20.70%
Operating Expenses to Revenue		 68.26% 66.78% -11.44% -8.70% 66.34% 68.56% 62.97% 72.25% 71.66% 68.69%
Earnings before Interest and Taxes (EBIT)		 241 230 246 178 258 227 351 209 222 278
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 320 319 333 261 343 340 466 314 317 363
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 1.60 2.52 2.52 2.84 2.61 2.55 3.46 2.75 3.17 2.91
Price to Tangible Book Value (P/TBV)		 2.11 3.44 3.29 3.63 3.36 3.20 4.21 3.50 4.20 4.78
Price to Revenue (P/Rev)		 2.98 4.84 2.49 3.19 4.85 5.35 7.02 4.93 5.75 5.66
Price to Earnings (P/E)		 15.93 26.74 26.07 160.96 23.62 26.85 28.99 33.59 37.22 27.53
Dividend Yield		 1.42% 0.98% 1.06% 0.99% 1.27% 1.42% 0.99% 1.58% 1.70% 1.59%
Earnings Yield		 6.28% 3.74% 3.84% 0.62% 4.23% 3.72% 3.45% 2.98% 2.69% 3.63%
Enterprise Value to Invested Capital (EV/IC)		 2.32 4.18 4.43 5.04 4.08 4.00 6.04 3.96 4.88 3.60
Enterprise Value to Revenue (EV/Rev)		 1.96 3.84 1.94 2.58 3.97 4.34 5.98 4.20 4.95 5.14
Enterprise Value to EBITDA (EV/EBITDA)		 5.95 12.35 12.60 20.79 14.37 14.83 16.46 16.77 20.31 18.06
Enterprise Value to EBIT (EV/EBIT)		 7.88 17.12 17.07 30.60 19.13 22.18 21.81 25.19 28.97 23.53
Enterprise Value to NOPAT (EV/NOPAT)		 11.97 21.52 20.90 137.48 21.18 23.84 24.83 29.85 36.96 29.98
Enterprise Value to Operating Cash Flow (EV/OCF)		 6.15 10.95 11.10 15.43 15.04 14.66 17.12 16.54 17.52 20.02
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 64.69 21.32 0.00 47.71 31.35 25.68 45.77 34.26 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.59 -0.54 -0.54 -0.55 -0.51 -0.48 -0.50 -0.46 -0.43 -0.35
Leverage Ratio		 1.16 1.17 1.17 1.20 1.21 1.21 1.19 1.19 1.23 1.25
Compound Leverage Factor		 1.18 1.20 1.22 1.32 1.33 1.27 1.20 1.23 1.38 1.41
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.49% 0.43% 0.33% 0.28% 0.25% 0.24% 0.24% 0.21% 0.72% 0.39%
Common Equity to Total Capital		 99.50% 99.57% 99.66% 99.72% 99.75% 99.76% 99.76% 99.79% 99.28% 99.61%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 7.82 11.23 10.97 10.73 9.46 10.14 13.28 10.84 9.61 9.07
Noncontrolling Interest Sharing Ratio		 0.87% 0.46% 0.38% 0.31% 0.26% 0.24% 0.24% 0.23% 0.47% 0.55%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 3.92 3.57 4.12 5.25 4.50 5.79 5.58 4.72 3.52 2.86
Quick Ratio		 3.68 3.35 3.86 4.43 3.60 4.86 4.74 3.79 2.72 1.91
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -29 61 197 -92 103 161 299 115 188 -284
Operating Cash Flow to CapEx		 196.40% 357.34% 379.25% 483.70% 340.33% 518.26% 1,175.54% 664.70% 1,209.93% 1,090.59%
Free Cash Flow to Firm to Interest Expense		 -157.20 487.51 1,548.78 -466.91 607.64 864.14 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 1,690.58 2,880.51 2,974.75 1,778.80 1,927.49 1,848.65 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 829.79 2,074.42 2,190.36 1,411.05 1,361.14 1,491.95 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.47 0.46 0.89 0.78 0.44 0.40 0.43 0.43 0.46 0.42
Accounts Receivable Turnover		 10.34 11.57 28.91 17.59 6.99 6.29 6.21 5.27 5.14 4.41
Inventory Turnover		 8.46 7.21 11.45 9.95 5.50 5.06 7.12 8.19 5.16 4.05
Fixed Asset Turnover		 2.80 2.42 4.65 4.22 2.36 2.15 2.38 2.39 2.61 2.65
Accounts Payable Turnover		 5.18 5.70 14.85 14.06 8.66 10.53 8.56 8.85 8.69 7.34
Days Sales Outstanding (DSO)		 35.30 31.54 12.62 20.76 52.22 58.04 58.82 69.32 71.03 82.77
Days Inventory Outstanding (DIO)		 43.13 50.62 31.88 36.67 66.41 72.11 51.25 44.56 70.78 90.08
Days Payable Outstanding (DPO)		 70.46 64.06 24.57 25.96 42.13 34.67 42.66 41.25 41.98 49.76
Cash Conversion Cycle (CCC)		 7.97 18.09 19.93 31.46 76.50 95.47 67.41 72.63 99.83 123.10
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 821 943 947 1,079 1,209 1,259 1,270 1,331 1,317 1,820
Invested Capital Turnover		 1.33 1.16 2.29 2.08 1.09 0.94 1.01 0.96 0.98 0.81
Increase / (Decrease) in Invested Capital		 188 122 3.91 132 129 51 10 61 -14 503
Enterprise Value (EV)		 1,903 3,942 4,193 5,435 4,928 5,039 7,666 5,268 6,430 6,552
Market Capitalization		 2,889 4,969 5,382 6,719 6,027 6,212 8,994 6,183 7,467 7,209
Book Value per Share		 $17.60 $19.52 $20.94 $22.81 $22.90 $24.18 $25.62 $23.00 $24.62 $25.98
Tangible Book Value per Share		 $13.36 $14.32 $16.03 $17.87 $17.78 $19.32 $21.05 $18.11 $18.60 $15.83
Total Capital		 1,816 1,979 2,144 2,371 2,313 2,438 2,604 2,251 2,372 2,487
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -995 -1,035 -1,196 -1,291 -1,104 -1,179 -1,335 -920 -1,055 -667
Capital Expenditures (CapEx)		 158 101 100 73 96 66 38 48 30 30
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -62 -95 -116 108 150 153 173 216 108 199
Debt-free Net Working Capital (DFNWC)		 612 547 766 1,211 1,075 1,280 1,445 1,033 1,066 777
Net Working Capital (NWC)		 612 547 766 1,211 1,075 1,280 1,445 1,033 1,066 777
Net Nonoperating Expense (NNE)		 -24 -3.25 -6.50 -2.77 -23 -20 -9.07 -7.41 -28 -46
Net Nonoperating Obligations (NNO)		 -995 -1,035 -1,196 -1,291 -1,104 -1,179 -1,335 -920 -1,055 -667
Total Depreciation and Amortization (D&A)		 78 89 87 84 85 113 114 105 95 84
Debt-free, Cash-free Net Working Capital to Revenue		 -6.41% -9.24% -5.39% 5.12% 12.08% 13.18% 13.50% 17.21% 8.35% 15.61%
Debt-free Net Working Capital to Revenue		 63.00% 53.29% 35.44% 57.43% 86.56% 110.18% 112.76% 82.42% 81.98% 60.97%
Net Working Capital to Revenue		 63.00% 53.29% 35.44% 57.43% 86.56% 110.18% 112.76% 82.42% 81.98% 60.97%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.77 $1.85 $1.98 $1.18 $2.51 $2.30 $3.07 $1.84 $2.10 $2.74
Adjusted Weighted Average Basic Shares Outstanding		 102.35M 100.72M 101.78M 103.38M 101.63M 100.56M 101.19M 99.99M 95.77M 95.54M
Adjusted Diluted Earnings per Share		 $1.75 $1.81 $1.95 $1.14 $2.44 $2.25 $2.97 $1.81 $2.05 $2.69
Adjusted Weighted Average Diluted Shares Outstanding		 103.86M 102.42M 103.29M 106.98M 104.57M 102.94M 104.62M 101.98M 97.73M 97.33M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $2.51 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 100.85M 101.48M 102.29M 103.26M 100.20M 100.35M 101.16M 95.96M 95.28M 95.44M
Normalized Net Operating Profit after Tax (NOPAT)		 159 184 211 128 266 213 305 186 212 224
Normalized NOPAT Margin		 16.37% 17.95% 9.77% 6.08% 21.40% 18.34% 23.84% 14.80% 16.31% 17.58%
Pre Tax Income Margin		 25.32% 23.00% 11.81% 9.31% 22.74% 20.63% 27.67% 17.17% 19.24% 24.53%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 1,319.24 1,842.76 1,934.61 896.98 1,515.05 1,221.38 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 868.69 1,465.24 1,579.55 199.66 1,368.65 1,136.31 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 458.44 1,036.66 1,150.22 529.23 948.69 864.67 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 7.89 659.15 795.16 -168.09 802.29 779.61 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 25.45% 26.08% 28.56% 158.79% 30.73% 38.37% 30.37% 55.19% 51.41% 49.06%
Augmented Payout Ratio		 92.61% 87.50% 85.38% 566.81% 172.95% 123.34% 117.87% 363.47% 140.89% 124.37%

Quarterly Metrics And Ratios for Dolby Laboratories

This table displays calculated financial ratios and metrics derived from Dolby Laboratories' official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 9/30/2022 12/30/2022 3/31/2023 6/30/2023 9/29/2023 12/29/2023 3/29/2024 6/28/2024 9/27/2024 12/27/2024 3/28/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -2.39% -4.75% 12.42% 3.03% 4.44% -5.78% -3.02% -3.20% 4.90% 13.13% 1.38%
EBITDA Growth		 -29.61% -0.77% 95.21% -46.36% -53.96% -22.03% -1.45% 50.34% 229.76% 18.42% 6.05%
EBIT Growth		 -34.43% 4.82% 160.31% -65.57% -100.89% -24.73% 2.42% 146.00% 21,508.91% 16.41% 3.13%
NOPAT Growth		 -41.41% -5.67% 145.09% -69.88% -115.78% -25.95% -1.56% 164.25% 1,291.94% 14.13% -5.98%
Net Income Growth		 -37.24% -0.70% 162.56% -58.58% -64.31% -14.94% 2.43% 141.73% 494.13% 0.72% -6.10%
EPS Growth		 -30.95% 6.49% 172.22% -56.41% -72.41% -15.85% 3.06% 135.29% 637.50% 1.45% -6.93%
Operating Cash Flow Growth		 -53.26% 78.13% 65.94% -29.82% 65.69% -85.09% 73.53% -82.45% 36.65% 1,169.82% -3.59%
Free Cash Flow Firm Growth		 -218.68% -11.08% 697.47% -463.04% 126.51% -16.00% 82.14% -54.56% -4,747.65% -949.14% -299.48%
Invested Capital Growth		 4.83% 2.01% 0.34% 2.45% -1.03% 1.13% -4.59% 4.58% 38.16% 28.11% 28.44%
Revenue Q/Q Growth		 -3.93% 20.39% 12.23% -20.62% -2.62% 8.61% 15.51% -20.77% 5.54% 17.12% 3.52%
EBITDA Q/Q Growth		 -33.12% 132.12% 14.79% -69.90% -42.60% 293.12% 45.09% -54.08% 25.90% 41.17% 29.94%
EBIT Q/Q Growth		 -42.23% 242.70% 16.06% -85.01% -101.49% 29,106.48% 57.93% -64.01% 29.85% 57.73% 39.91%
NOPAT Q/Q Growth		 -33.49% 207.75% 19.44% -87.68% -134.83% 1,544.62% 58.77% -66.92% 57.10% 38.33% 30.80%
Net Income Q/Q Growth		 -29.92% 186.21% 20.69% -82.89% -39.60% 582.09% 45.33% -59.62% 48.45% 15.64% 35.49%
EPS Q/Q Growth		 -25.64% 182.76% 19.51% -82.65% -52.94% 762.50% 46.38% -60.40% 47.50% 18.64% 34.29%
Operating Cash Flow Q/Q Growth		 -70.27% 9.91% 85.37% 15.87% -29.81% -90.11% 2,057.32% -88.28% 446.32% -8.08% 63.79%
Free Cash Flow Firm Q/Q Growth		 -725.71% 227.00% 79.27% -125.48% 145.69% 302.38% 288.75% -121.63% -1,273.92% 26.48% 8.68%
Invested Capital Q/Q Growth		 0.17% 5.50% 2.22% -5.16% -3.23% 7.80% -3.55% 3.95% 27.84% -0.04% -3.31%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 86.64% 89.71% 89.08% 86.09% 87.76% 89.84% 89.36% 87.65% 88.85% 88.58% 90.30%
EBITDA Margin		 18.22% 35.12% 35.92% 13.62% 8.03% 29.06% 36.50% 21.16% 25.24% 30.42% 38.19%
Operating Margin		 9.74% 28.09% 29.06% 5.34% -1.20% 20.98% 29.89% 12.74% 15.21% 22.38% 29.16%
EBIT Margin		 9.98% 28.42% 29.39% 5.55% -0.09% 22.70% 31.04% 14.10% 17.35% 23.36% 31.58%
Profit (Net Income) Margin		 9.98% 23.72% 25.51% 5.50% 3.41% 21.42% 26.94% 13.73% 19.31% 19.07% 24.96%
Tax Burden Percent		 89.62% 79.46% 81.75% 69.05% 109.69% 83.61% 80.67% 79.05% 98.55% 79.10% 76.70%
Interest Burden Percent		 111.52% 105.04% 106.16% 143.50% -3,657.09% 112.82% 107.60% 123.18% 112.96% 103.17% 103.05%
Effective Tax Rate		 10.38% 20.54% 18.25% 30.95% -9.69% 16.39% 19.33% 20.95% 1.45% 20.90% 23.30%
Return on Invested Capital (ROIC)		 8.42% 19.86% 21.20% 3.53% -1.29% 15.91% 21.82% 9.11% 12.17% 14.37% 18.88%
ROIC Less NNEP Spread (ROIC-NNEP)		 8.11% 19.43% 20.57% 3.03% -2.69% 14.57% 20.78% 8.07% 10.64% 13.78% 17.86%
Return on Net Nonoperating Assets (RNNOA)		 -3.77% -8.48% -8.69% -1.35% 1.15% -5.73% -8.62% -3.42% -3.77% -4.63% -6.73%
Return on Equity (ROE)		 4.65% 11.38% 12.51% 2.18% -0.15% 10.18% 13.20% 5.69% 8.40% 9.74% 12.14%
Cash Return on Invested Capital (CROIC)		 8.85% 10.39% 15.37% 12.36% 14.17% 9.82% 15.62% 7.84% -18.11% -10.65% -10.73%
Operating Return on Assets (OROA)		 4.32% 12.01% 12.74% 2.41% -0.04% 10.23% 13.40% 5.94% 7.26% 10.08% 13.29%
Return on Assets (ROA)		 4.32% 10.03% 11.06% 2.39% 1.56% 9.65% 11.63% 5.78% 8.08% 8.23% 10.50%
Return on Common Equity (ROCE)		 4.64% 11.36% 12.48% 2.17% -0.15% 10.13% 13.14% 5.65% 8.35% 9.69% 12.08%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 8.01% 10.32% 9.28% 0.00% 8.09% 7.94% 8.85% 0.00% 10.56% 10.06%
Net Operating Profit after Tax (NOPAT)		 24 75 89 11 -3.83 55 88 29 46 63 83
NOPAT Margin		 8.73% 22.32% 23.76% 3.69% -1.32% 17.54% 24.11% 10.07% 14.99% 17.70% 22.36%
Net Nonoperating Expense Percent (NNEP)		 0.31% 0.43% 0.63% 0.50% 1.39% 1.33% 1.04% 1.03% 1.53% 0.60% 1.01%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - 2.34% - - - 2.51% 3.20%
Cost of Revenue to Revenue		 13.36% 10.29% 10.92% 13.91% 12.24% 10.16% 10.64% 12.35% 11.15% 11.42% 9.70%
SG&A Expenses to Revenue		 20.51% 17.91% 16.48% 23.45% 22.93% 20.65% 18.31% 23.99% 22.71% 19.63% 19.05%
R&D to Revenue		 22.31% 19.24% 18.08% 23.02% 24.24% 21.24% 17.14% 22.68% 22.52% 18.67% 16.70%
Operating Expenses to Revenue		 76.89% 61.62% 60.02% 80.75% 88.97% 68.86% 59.47% 74.92% 73.64% 66.20% 61.14%
Earnings before Interest and Taxes (EBIT)		 28 95 110 17 -0.25 72 113 41 53 83 117
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 51 118 135 41 23 92 133 61 77 109 141
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.75 2.89 3.41 3.32 3.17 3.46 3.28 3.11 2.91 2.99 2.99
Price to Tangible Book Value (P/TBV)		 3.50 3.64 4.26 4.45 4.20 4.57 4.27 4.02 4.78 4.78 4.71
Price to Revenue (P/Rev)		 4.93 5.34 6.26 6.09 5.75 6.34 6.26 6.00 5.66 5.70 5.83
Price to Earnings (P/E)		 33.59 35.99 33.04 35.79 37.22 43.10 41.73 35.59 27.53 28.51 30.01
Dividend Yield		 1.58% 1.48% 1.24% 1.29% 1.70% 1.31% 1.37% 1.48% 1.59% 1.57% 1.58%
Earnings Yield		 2.98% 2.78% 3.03% 2.79% 2.69% 2.32% 2.40% 2.81% 3.63% 3.51% 3.33%
Enterprise Value to Invested Capital (EV/IC)		 3.96 4.07 4.94 5.02 4.88 5.06 5.03 4.60 3.60 3.74 3.92
Enterprise Value to Revenue (EV/Rev)		 4.20 4.62 5.55 5.31 4.95 5.61 5.43 5.20 5.14 5.17 5.22
Enterprise Value to EBITDA (EV/EBITDA)		 16.77 18.26 18.71 19.89 20.31 24.73 23.87 21.19 18.06 17.91 17.76
Enterprise Value to EBIT (EV/EBIT)		 25.19 26.79 25.20 27.36 28.97 36.23 34.27 29.08 23.53 23.44 23.45
Enterprise Value to NOPAT (EV/NOPAT)		 29.85 33.23 31.52 34.41 36.96 46.55 45.01 38.20 29.98 30.00 31.07
Enterprise Value to Operating Cash Flow (EV/OCF)		 16.54 16.66 18.43 20.52 17.52 22.53 17.41 22.13 20.02 15.98 16.43
Enterprise Value to Free Cash Flow (EV/FCFF)		 45.77 39.59 32.22 41.14 34.26 51.86 31.47 60.01 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.46 -0.44 -0.42 -0.44 -0.43 -0.39 -0.41 -0.42 -0.35 -0.34 -0.38
Leverage Ratio		 1.19 1.19 1.19 1.22 1.23 1.22 1.23 1.24 1.25 1.25 1.25
Compound Leverage Factor		 1.33 1.25 1.26 1.76 -44.85 1.38 1.32 1.53 1.42 1.29 1.29
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.21% 0.22% 0.22% 0.69% 0.72% 0.70% 0.69% 0.60% 0.39% 0.36% 0.36%
Common Equity to Total Capital		 99.79% 99.78% 99.78% 99.31% 99.28% 99.30% 99.31% 99.40% 99.61% 99.64% 99.64%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 10.62 10.89 12.25 9.51 9.36 10.57 9.96 10.70 8.83 8.96 9.16
Noncontrolling Interest Sharing Ratio		 0.23% 0.20% 0.21% 0.45% 0.47% 0.46% 0.46% 0.64% 0.55% 0.52% 0.52%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 4.72 4.65 4.66 3.47 3.52 3.68 3.50 4.14 2.86 2.91 3.04
Quick Ratio		 3.79 3.61 3.50 2.73 2.72 2.77 2.50 3.26 1.91 1.95 2.06
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -37 47 84 -22 9.83 40 154 -33 -457 -336 -307
Operating Cash Flow to CapEx		 479.08% 781.42% 1,389.45% 1,634.01% 1,038.67% 137.88% 2,034.65% 279.31% 1,574.33% 1,575.14% 2,535.84%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.43 0.42 0.43 0.43 0.46 0.45 0.43 0.42 0.42 0.43 0.42
Accounts Receivable Turnover		 5.27 4.66 5.01 5.12 5.14 4.39 4.49 4.56 4.41 4.16 4.43
Inventory Turnover		 8.19 7.29 6.33 5.46 5.16 4.72 4.47 4.23 4.05 4.30 4.16
Fixed Asset Turnover		 2.39 2.37 2.47 2.53 2.61 2.58 2.57 2.57 2.65 2.75 2.77
Accounts Payable Turnover		 8.85 7.85 10.41 9.57 8.69 9.46 8.02 8.93 7.34 11.50 7.90
Days Sales Outstanding (DSO)		 69.32 78.34 72.88 71.32 71.03 83.07 81.32 80.09 82.77 87.78 82.42
Days Inventory Outstanding (DIO)		 44.56 50.06 57.68 66.87 70.78 77.39 81.62 86.22 90.08 84.88 87.83
Days Payable Outstanding (DPO)		 41.25 46.50 35.05 38.13 41.98 38.59 45.53 40.87 49.76 31.73 46.18
Cash Conversion Cycle (CCC)		 72.63 81.90 95.51 100.05 99.83 121.87 117.41 125.45 123.10 140.93 124.07
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,331 1,404 1,435 1,361 1,317 1,420 1,369 1,424 1,820 1,819 1,759
Invested Capital Turnover		 0.96 0.89 0.89 0.96 0.98 0.91 0.90 0.90 0.81 0.81 0.84
Increase / (Decrease) in Invested Capital		 61 28 4.86 33 -14 16 -66 62 503 399 389
Enterprise Value (EV)		 5,268 5,718 7,094 6,840 6,430 7,188 6,893 6,552 6,552 6,801 6,887
Market Capitalization		 6,183 6,602 8,009 7,845 7,467 8,114 7,944 7,561 7,209 7,490 7,701
Book Value per Share		 $23.00 $23.84 $24.53 $24.78 $24.62 $24.60 $25.33 $25.39 $25.98 $26.28 $26.70
Tangible Book Value per Share		 $18.11 $18.89 $19.64 $18.46 $18.60 $18.62 $19.46 $19.61 $15.83 $16.41 $16.98
Total Capital		 2,251 2,293 2,356 2,383 2,372 2,362 2,438 2,447 2,487 2,517 2,583
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -920 -888 -921 -1,021 -1,055 -942 -1,068 -1,024 -667 -698 -824
Capital Expenditures (CapEx)		 11 7.22 7.52 7.41 8.19 6.10 8.92 7.61 7.38 6.78 6.90
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 216 295 329 123 108 208 169 208 199 232 181
Debt-free Net Working Capital (DFNWC)		 1,033 1,059 1,149 1,046 1,066 1,057 1,109 1,114 777 844 932
Net Working Capital (NWC)		 1,033 1,059 1,149 1,046 1,066 1,057 1,109 1,114 777 844 932
Net Nonoperating Expense (NNE)		 -3.46 -4.68 -6.59 -5.40 -14 -12 -10 -11 -13 -4.88 -9.58
Net Nonoperating Obligations (NNO)		 -920 -888 -921 -1,021 -1,055 -942 -1,068 -1,024 -667 -698 -824
Total Depreciation and Amortization (D&A)		 23 22 25 24 24 20 20 20 24 25 24
Debt-free, Cash-free Net Working Capital to Revenue		 17.21% 23.82% 25.71% 9.55% 8.35% 16.23% 13.29% 16.53% 15.61% 17.66% 13.74%
Debt-free Net Working Capital to Revenue		 82.42% 85.60% 89.83% 81.28% 81.98% 82.57% 87.38% 88.46% 60.97% 64.17% 70.58%
Net Working Capital to Revenue		 82.42% 85.60% 89.83% 81.28% 81.98% 82.57% 87.38% 88.46% 60.97% 64.17% 70.58%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.29 $0.83 $1.00 $0.17 $0.10 $0.70 $1.02 $0.40 $0.62 $0.71 $0.95
Adjusted Weighted Average Basic Shares Outstanding		 99.99M 95.91M 95.82M 95.66M 95.77M 95.38M 95.72M 95.69M 95.54M 95.62M 96.33M
Adjusted Diluted Earnings per Share		 $0.29 $0.82 $0.98 $0.17 $0.08 $0.69 $1.01 $0.40 $0.59 $0.70 $0.94
Adjusted Weighted Average Diluted Shares Outstanding		 101.98M 97.05M 97.30M 97.46M 97.73M 97.44M 96.86M 96.96M 97.33M 97.15M 97.47M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 95.96M 95.82M 95.51M 95.64M 95.28M 95.58M 95.84M 95.35M 95.44M 96.38M 96.07M
Normalized Net Operating Profit after Tax (NOPAT)		 28 75 89 23 19 60 86 32 44 67 86
Normalized NOPAT Margin		 10.21% 22.27% 23.76% 7.55% 6.53% 19.16% 23.56% 11.18% 14.57% 18.86% 23.24%
Pre Tax Income Margin		 11.13% 29.85% 31.20% 7.96% 3.11% 25.61% 33.40% 17.37% 19.60% 24.10% 32.54%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 55.19% 55.05% 41.78% 46.52% 51.41% 56.45% 57.25% 54.00% 49.06% 49.98% 52.43%
Augmented Payout Ratio		 363.47% 368.04% 264.18% 217.51% 140.89% 172.68% 158.96% 149.17% 124.37% 99.81% 107.39%

Key Financial Trends

Key trends for Dolby Laboratories (DLB) through Q2 2025:

  • Operating income jumped 35% q/q to $107.8 M in Q2 2025, driving significant margin expansion
  • Net cash from operating activities climbed to $174.9 M, funding dividends and ~$36.8 M of buybacks
  • Gross margin expanded to 90.3% (from 88.6% in Q1 2025), while SG&A and R&D costs as a % of revenue declined
  • Net debt remains deeply negative at –$824 M, with cash & equivalents of $626.6 M and zero borrowings
  • Revenue rose 1.38% q/q in Q2 2025, down from 13.1% in Q1 2025, reflecting seasonality
  • Free cash flow to the firm was –$307 M in Q2 2025, consistent with ongoing growth investments
  • Valuation remains mid-range with P/E ~30× and EV/EBITDA ~17.8×, in line with historical levels
  • Net income in Q2 2025 declined 6.1% y/y versus Q2 2024, as year-over-year growth cooled
  • Invested capital increased by $389 M in Q2 2025, diluting invested capital turnover
  • EPS fell ~6.9% y/y in Q2 2025 despite q/q strength, highlighting tougher comparison vs prior year
06/19/25 01:51 PMAI Generated. May Contain Errors.

Frequently Asked Questions About Dolby Laboratories' Financials

When does Dolby Laboratories' financial year end?

According to the most recent income statement we have on file, Dolby Laboratories' fiscal year ends in September. Their fiscal year 2024 ended on September 27, 2024.

How has Dolby Laboratories' net income changed over the last 9 years?

Dolby Laboratories' net income appears to be on an upward trend, with a most recent value of $264.32 million in 2024, rising from $183.24 million in 2015. The previous period was $201.64 million in 2023. View Dolby Laboratories' forecast to see where analysts expect Dolby Laboratories to go next.

What is Dolby Laboratories' operating income?
Dolby Laboratories' total operating income in 2024 was $258.33 million, based on the following breakdown:
  • Total Gross Profit: $1.13 billion
  • Total Operating Expenses: $874.90 million
How has Dolby Laboratories' revenue changed over the last 9 years?

Over the last 9 years, Dolby Laboratories' total revenue changed from $970.64 million in 2015 to $1.27 billion in 2024, a change of 31.2%.

How much debt does Dolby Laboratories have?

Dolby Laboratories' total liabilities were at $623.04 million at the end of 2024, a 2.5% increase from 2023, and a 96.4% increase since 2015.

How much cash does Dolby Laboratories have?

In the past 9 years, Dolby Laboratories' cash and equivalents has ranged from $482.05 million in 2024 to $1.23 billion in 2021, and is currently $482.05 million as of their latest financial filing in 2024.

How has Dolby Laboratories' book value per share changed over the last 9 years?

Over the last 9 years, Dolby Laboratories' book value per share changed from 17.60 in 2015 to 25.98 in 2024, a change of 47.6%.


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This page (NYSE:DLB) was last updated on 6/19/2025 by MarketBeat.com Staff
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