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Dolby Laboratories (DLB) Financials

Dolby Laboratories logo
$54.54 +0.48 (+0.89%)
As of 12:53 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 2025
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 9/26/2025
Net Income / (Loss) Attributable to Common Shareholders		 181 186 206 42 255 231 310 184 201 262 255
Consolidated Net Income / (Loss)		 183 186 207 42 256 232 318 184 202 264 256
Net Income / (Loss) Continuing Operations		 183 186 2,130 1,896 256 232 318 184 202 264 256
Total Pre-Tax Income 		246 236 255 196 282 240 355 215 250 312 303
Total Operating Income		 213 232 247 184 257 219 344 207 216 258 265
Total Gross Profit		 876 917 1,923 1,854 1,081 1,015 1,151 1,112 1,147 1,133 1,189
Total Revenue		 971 1,026 2,160 2,109 1,242 1,162 1,281 1,254 1,300 1,274 1,349
Operating Revenue		 971 1,026 2,160 2,109 1,242 1,162 1,281 1,254 1,300 1,274 1,349
Total Cost of Revenue		 95 109 237 255 161 146 130 141 153 140 160
Operating Cost of Revenue		 95 109 237 255 161 146 130 141 153 140 160
Total Operating Expenses		 663 685 -247 -184 824 797 807 906 931 875 924
Selling, General & Admin Expense		 182 169 172 197 205 220 224 275 258 270 287
Marketing Expense		 279 295 297 310 344 336 333 359 354 334 361
Research & Development Expense		 201 220 233 237 238 239 254 261 272 264 262
Restructuring Charge		 -0.08 1.23 13 -0.45 37 1.82 10 11 47 6.38 15
Total Other Income / (Expense), net		 33 4.11 8.01 13 25 21 10 8.67 34 54 39
Interest Expense		 0.18 0.13 0.13 0.20 0.17 0.19 -3.01 -6.17 -28 -34 -15
Other Income / (Expense), net		 28 -1.45 -1.44 -5.90 0.48 8.43 7.11 2.50 6.21 20 23
Income Tax Expense		 63 50 48 154 27 8.10 37 31 48 48 47
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 1.47
Basic Earnings per Share		 $1.77 $1.85 $2.03 $0.40 $2.51 $2.30 $3.07 $1.84 $2.10 $2.74 $2.66
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 95.87M
Diluted Earnings per Share		 $1.75 $1.81 $2.00 $0.39 $2.44 $2.25 $2.97 $1.81 $2.05 $2.69 $2.62
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 97.48M
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 95.51M
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 $2.64

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 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 9/29/2023 12/29/2023 3/29/2024 6/28/2024 9/27/2024 12/27/2024 3/28/2025 6/27/2025 9/26/2025 12/26/2025 3/27/2026
Net Income / (Loss) Attributable to Common Shareholders		 9.19 67 98 38 59 68 92 46 49 53 95
Consolidated Net Income / (Loss)		 9.91 68 98 40 59 68 92 47 50 54 95
Net Income / (Loss) Continuing Operations		 9.91 68 98 40 59 68 92 47 50 54 95
Total Pre-Tax Income 		9.03 81 122 50 60 86 120 56 42 72 120
Total Operating Income		 -3.49 66 109 37 46 80 108 48 30 62 113
Total Gross Profit		 255 284 326 253 271 316 334 272 268 303 351
Total Revenue		 291 316 365 289 305 357 370 316 307 347 396
Operating Revenue		 291 316 365 289 305 357 370 316 307 347 396
Total Cost of Revenue		 36 32 39 36 34 41 36 44 40 43 45
Operating Cost of Revenue		 36 32 39 36 34 41 36 44 40 43 45
Total Operating Expenses		 259 217 217 216 224 236 226 224 238 241 238
Selling, General & Admin Expense		 67 65 67 69 69 70 70 72 74 70 76
Marketing Expense		 91 79 90 78 88 94 90 86 91 92 96
Research & Development Expense		 70 67 62 66 69 67 62 66 67 69 64
Restructuring Charge		 31 6.09 -2.50 4.08 -1.29 5.22 4.21 -0.55 6.13 10 2.18
Total Other Income / (Expense), net		 13 15 13 13 13 6.17 12 7.88 12 9.44 6.75
Interest & Investment Income		 - 9.19 8.60 9.44 - 2.65 3.56 4.11 - 4.12 5.02
Other Income / (Expense), net		 3.25 5.43 4.18 3.94 6.53 3.53 8.93 3.77 6.93 5.32 1.73
Income Tax Expense		 -0.88 13 24 11 0.87 18 28 8.97 -7.99 18 24
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.72 0.60 0.38 1.21 0.30 0.25 0.43 0.47 0.32 0.35 0.54
Basic Earnings per Share		 $0.10 $0.70 $1.02 $0.40 $0.62 $0.71 $0.95 $0.48 $0.52 $0.56 $1.00
Weighted Average Basic Shares Outstanding		 95.77M 95.38M 95.72M 95.69M 95.54M 95.62M 96.33M 95.90M 95.87M 95.47M 95.22M
Diluted Earnings per Share		 $0.08 $0.69 $1.01 $0.40 $0.59 $0.70 $0.94 $0.48 $0.50 $0.55 $0.99
Weighted Average Diluted Shares Outstanding		 97.73M 97.44M 96.86M 96.96M 97.33M 97.15M 97.47M 96.90M 97.48M 96.52M 95.52M
Weighted Average Basic & Diluted Shares Outstanding		 95.28M 95.58M 95.84M 95.35M 95.44M 96.38M 96.07M 95.84M 95.51M 95.54M 94.60M
Cash Dividends to Common per Share		 $0.57 $0.60 $0.60 $0.60 $0.63 $0.66 $0.66 $0.66 $0.66 $0.72 $0.72

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 2025
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 9/26/2025
Net Change in Cash & Equivalents		 -37 -16 115 291 -120 274 153 -605 190 -240 216
Net Cash From Operating Activities		 309 360 378 352 328 344 448 319 367 327 472
Net Cash From Continuing Operating Activities		 309 360 378 352 328 344 448 319 367 327 472
Net Income / (Loss) Continuing Operations		 183 186 207 42 256 232 318 184 202 264 256
Consolidated Net Income / (Loss)		 183 186 207 42 256 232 318 184 202 264 256
Depreciation Expense		 69 85 84 81 85 91 96 88 83 76 88
Amortization Expense		 9.16 3.82 2.76 2.47 0.36 22 18 17 12 8.85 11
Non-Cash Adjustments To Reconcile Net Income		 43 70 64 79 58 140 56 122 128 110 146
Changes in Operating Assets and Liabilities, net		 4.38 15 20 147 -72 -140 -41 -92 -57 -132 -29
Net Cash From Investing Activities		 -204 -282 -158 78 -56 134 -45 -296 54 -286 -11
Net Cash From Continuing Investing Activities		 -204 -282 -158 78 -56 134 -45 -296 54 -286 -11
Purchase of Property, Plant & Equipment		 -158 -101 -100 -73 -96 -66 -54 -48 -30 -30 -36
Acquisitions		 -131 -121 0.00 -23 -15 0.00 -4.50 -38 26 -488 -1.36
Purchase of Investments		 -393 -426 -290 -174 -265 -288 -67 -316 -173 -160 -0.08
Sale of Property, Plant & Equipment		 - - - - 0.00 0.00 16 - 0.00 0.00 17
Sale and/or Maturity of Investments		 451 366 236 360 338 491 65 118 232 392 16
Other Investing Activities, net		 -0.79 -0.71 -5.25 -13 -17 -2.64 0.00 -12 0.00 0.00 -5.59
Net Cash From Financing Activities		 -139 -92 -107 -134 -385 -208 -253 -611 -237 -288 -247
Net Cash From Continuing Financing Activities		 -139 -92 -107 -134 -385 -208 -253 -611 -237 -288 -247
Repurchase of Common Equity		 -123 -114 -118 -173 -363 -197 -278 -567 -180 -199 -162
Payment of Dividends		 -47 -49 -59 -67 -79 -89 -97 -102 -104 -130 -128
Other Financing Activities, net		 31 71 70 106 57 78 122 58 47 41 44
Effect of Exchange Rate Changes		 -3.81 -1.40 1.68 -5.78 -5.82 3.94 2.72 -17 - 6.64 1.24
Cash Income Taxes Paid		 52 55 57 61 60 53 71 40 61 63 74

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 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 9/29/2023 12/29/2023 3/29/2024 6/28/2024 9/27/2024 12/27/2024 3/28/2025 6/27/2025 9/26/2025 12/26/2025 3/27/2026
Net Change in Cash & Equivalents		 19 -109 116 -46 -201 34 139 6.22 37 -66 -54
Net Cash From Operating Activities		 85 8.41 181 21 116 107 175 68 123 55 93
Net Cash From Continuing Operating Activities		 85 8.41 181 21 116 107 175 68 123 55 93
Net Income / (Loss) Continuing Operations		 9.91 68 98 40 59 68 92 47 50 54 95
Consolidated Net Income / (Loss)		 9.91 68 98 40 59 68 92 47 50 54 95
Depreciation Expense		 21 18 18 18 21 22 22 22 22 24 24
Amortization Expense		 2.45 2.19 1.90 2.07 2.69 2.84 2.89 2.47 2.58 2.67 2.75
Non-Cash Adjustments To Reconcile Net Income		 48 -6.78 49 23 24 11 13 53 72 6.20 -16
Changes in Operating Assets and Liabilities, net		 3.17 -72 14 -62 8.90 2.34 46 -57 -23 -32 -14
Net Cash From Investing Activities		 -20 0.63 -18 -7.74 -261 -8.14 26 -6.43 -22 1.25 -46
Net Cash From Continuing Investing Activities		 -20 0.63 -18 -7.74 -261 -8.14 26 -6.43 -22 1.25 -46
Purchase of Property, Plant & Equipment		 -8.19 -6.10 -8.92 -7.61 -7.38 -6.78 -6.90 -6.43 -16 -4.63 -9.06
Other Investing Activities, net		 - - - - - 0.00 - - - -0.75 -37
Net Cash From Financing Activities		 -43 -125 -44 -58 -60 -58 -65 -61 -64 -122 -100
Net Cash From Continuing Financing Activities		 -43 -125 -45 -58 -61 -58 -65 -61 -64 -122 -100
Repurchase of Common Equity		 -28 -115 -26 -36 -22 -47 -37 -41 -37 -101 -66
Payment of Dividends		 -26 -30 -29 -32 -39 -32 -32 -32 -32 -35 -35
Other Financing Activities, net		 11 19 10 11 -0.01 22 3.97 13 5.02 14 1.04
Cash Income Taxes Paid		 21 12 27 12 12 11 33 15 15 12 32

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 2025
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 9/26/2025
Total Assets		 2,133 2,310 2,534 2,865 2,822 2,917 3,106 2,690 2,980 3,110 3,228
Total Current Assets		 821 760 1,011 1,497 1,382 1,547 1,760 1,311 1,488 1,194 1,388
Cash & Equivalents		 532 516 627 918 797 1,072 1,225 620 745 482 702
Restricted Cash		 2.94 3.65 7.35 7.19 8.38 8.10 7.65 8.24 73 96 91
Short-Term Investments		 139 122 248 178 119 47 39 189 139 0.00 0.70
Accounts Receivable		 102 76 74 166 189 180 233 244 262 315 331
Inventories, net		 14 16 25 26 32 26 11 24 36 34 30
Prepaid Expenses		 32 26 31 35 40 53 63 50 51 70 52
Other Current Assets		 - - - 166 196 161 182 176 182 197 181
Plant, Property, & Equipment, net		 403 444 485 514 537 542 534 513 482 479 471
Total Noncurrent Assets		 909 1,107 1,037 855 903 828 811 865 1,010 1,436 1,369
Long-Term Investments		 321 394 314 188 180 52 63 103 98 89 80
Goodwill		 308 310 311 328 335 337 341 365 408 533 530
Intangible Assets		 128 215 190 184 181 152 123 112 167 435 397
Noncurrent Deferred & Refundable Income Taxes		 143 167 191 75 114 119 156 184 202 220 214
Other Noncurrent Operating Assets		 9.46 21 31 80 93 168 128 102 135 160 147
Total Liabilities & Shareholders' Equity		 2,133 2,310 2,534 2,865 2,822 2,917 3,106 2,690 2,980 3,110 3,228
Total Liabilities		 317 331 390 495 509 479 501 439 608 623 596
Total Current Liabilities		 210 213 246 285 307 267 316 278 422 418 438
Accounts Payable		 21 18 14 22 15 13 18 14 21 17 18
Accrued Expenses		 169 169 207 243 268 220 263 230 351 348 369
Current Deferred Revenue		 19 24 23 - - - 18 19 32 32 31
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 8.93
Other Current Liabilities		 - - - 17 20 31 15 13 14 12 10
Total Noncurrent Liabilities		 108 118 144 210 202 212 186 161 185 205 158
Noncurrent Deferred Revenue		 31 35 36 - - - 24 23 40 35 30
Other Noncurrent Operating Liabilities		 77 83 108 210 202 212 162 138 145 171 128
Total Equity & Noncontrolling Interests		 1,816 1,979 2,144 2,371 2,313 2,438 2,604 2,251 2,372 2,487 2,632
Total Preferred & Common Equity		 1,807 1,970 2,137 2,364 2,307 2,433 2,598 2,246 2,355 2,477 2,623
Total Common Equity		 1,807 1,970 2,137 2,364 2,307 2,433 2,598 2,246 2,355 2,477 2,623
Common Stock		 18 42 61 66 0.10 0.10 0.10 0.09 0.09 0.09 0.04
Retained Earnings		 1,801 1,938 2,083 2,314 2,328 2,443 2,608 2,298 2,392 2,496 2,635
Accumulated Other Comprehensive Income / (Loss)		 -11 -10 -7.75 -16 -21 -11 -10 -52 -37 -19 -13
Noncontrolling Interest		 8.94 8.48 7.10 6.57 5.68 5.76 6.25 4.84 17 9.73 9.39

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 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 12/30/2022 3/31/2023 6/30/2023 12/29/2023 3/29/2024 6/28/2024 12/27/2024 3/28/2025 6/27/2025 12/26/2025 3/27/2026
Total Assets		 2,749 2,836 3,008 2,936 3,045 2,974 3,159 3,229 3,196 3,192 3,249
Total Current Assets		 1,349 1,463 1,469 1,451 1,552 1,469 1,286 1,389 1,338 1,408 1,415
Cash & Equivalents		 626 688 765 657 710 742 521 627 699 644 594
Restricted Cash		 5.32 4.98 34 52 115 37 91 124 58 84 80
Short-Term Investments		 133 126 124 141 116 127 - - 0.76 0.74 0.46
Accounts Receivable		 290 283 267 293 282 286 339 314 298 373 391
Inventories, net		 26 30 32 38 36 35 32 35 32 31 32
Prepaid Expenses		 53 54 54 54 50 51 82 60 46 77 78
Other Current Assets		 216 275 193 218 243 191 221 230 204 198 239
Plant, Property, & Equipment, net		 512 508 502 479 481 478 476 473 478 467 462
Total Noncurrent Assets		 887 866 1,037 1,005 1,011 1,027 1,397 1,367 1,379 1,317 1,373
Long-Term Investments		 124 101 98 93 128 118 86 74 78 85 81
Goodwill		 369 370 426 410 409 408 520 525 529 530 530
Intangible Assets		 106 99 177 160 152 145 421 412 408 364 390
Noncurrent Deferred & Refundable Income Taxes		 192 204 210 207 208 220 227 223 229 214 209
Other Noncurrent Operating Assets		 95 92 125 135 114 136 142 133 136 124 163
Total Liabilities & Shareholders' Equity		 2,749 2,836 3,008 2,936 3,045 2,974 3,159 3,229 3,196 3,192 3,249
Total Liabilities		 456 480 625 573 607 526 642 646 582 589 622
Total Current Liabilities		 290 314 423 394 443 355 442 457 389 444 475
Accounts Payable		 17 17 15 14 20 16 12 17 17 8.67 21
Accrued Expenses		 230 247 347 327 363 281 361 376 317 376 405
Current Deferred Revenue		 22 23 37 33 38 33 37 40 36 37 39
Current Deferred & Payable Income Tax Liabilities		 7.18 14 11 6.19 8.38 12 21 13 7.15 11 0.02
Other Current Liabilities		 13 13 14 13 14 13 11 11 11 10 9.87
Total Noncurrent Liabilities		 166 166 202 179 164 172 200 189 193 146 148
Noncurrent Deferred Revenue		 23 23 42 37 36 36 32 30 29 25 24
Other Noncurrent Operating Liabilities		 143 143 161 142 128 136 167 159 164 121 124
Total Equity & Noncontrolling Interests		 2,293 2,356 2,383 2,362 2,438 2,447 2,517 2,583 2,614 2,603 2,627
Total Preferred & Common Equity		 2,288 2,351 2,366 2,346 2,421 2,433 2,508 2,574 2,605 2,594 2,618
Total Common Equity		 2,288 2,351 2,366 2,346 2,421 2,433 2,508 2,574 2,605 2,594 2,618
Common Stock		 0.10 0.10 0.09 0.09 0.09 0.09 0.10 0.10 0.09 0.09 0.09
Retained Earnings		 2,319 2,378 2,397 2,367 2,450 2,463 2,543 2,602 2,618 2,604 2,630
Accumulated Other Comprehensive Income / (Loss)		 -32 -27 -31 -21 -29 -30 -36 -28 -14 -11 -12
Noncontrolling Interest		 4.95 5.21 16 16 17 15 9.06 9.35 9.52 9.20 9.14

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 2025
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 9/26/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 1.09% 5.68% 110.61% -2.37% -41.13% -6.43% 10.28% -2.14% 3.67% -2.00% 5.92%
EBITDA Growth		 -4.63% -0.12% 4.21% -21.46% 31.25% -0.93% 37.01% -32.53% 0.79% 14.59% 6.59%
EBIT Growth		 -11.43% -4.59% 6.66% -27.71% 45.02% -11.80% 54.73% -40.51% 6.15% 25.43% 3.49%
NOPAT Growth		 -23.17% 15.21% 9.53% -80.29% 488.55% -9.16% 46.08% -42.84% -1.42% 25.59% 2.48%
Net Income Growth		 -12.21% 1.73% 11.11% -79.57% 503.96% -9.35% 37.22% -42.14% 9.65% 31.08% -2.96%
EPS Growth		 -12.06% 3.43% 10.50% -80.50% 525.64% -7.79% 32.00% -39.06% 13.26% 31.22% -2.60%
Operating Cash Flow Growth		 -14.43% 16.38% 4.92% -6.77% -6.96% 4.94% 30.22% -28.85% 15.23% -10.85% 44.29%
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% 200.71%
Invested Capital Growth		 29.64% 14.88% 0.41% 13.93% 11.99% 4.19% 0.81% 4.83% -1.03% 38.16% -3.42%
Revenue Q/Q Growth		 0.60% 0.02% 101.45% -1.21% -44.52% -2.32% 1.09% -0.54% 0.96% 1.13% 0.16%
EBITDA Q/Q Growth		 2.45% -9.22% -2.53% -3.69% 13.41% 2.82% -2.16% -6.36% -7.95% 17.33% -3.91%
EBIT Q/Q Growth		 1.67% -12.86% -2.85% -5.26% 17.59% -6.80% 2.42% -6.52% -11.21% 23.58% -5.35%
NOPAT Q/Q Growth		 -10.45% -1.31% 0.61% -0.81% 8.97% -7.32% 6.37% -8.91% -12.48% 27.40% -3.78%
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% -3.47%
EPS Q/Q Growth		 0.00% -10.84% 2.04% 0.00% 7.02% -7.02% 5.69% -6.70% -9.29% 23.39% -3.32%
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% 1.43%
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% 333.38%
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% -1.19%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 90.23% 89.38% 89.03% 87.90% 87.04% 87.39% 89.85% 88.73% 88.26% 88.97% 88.13%
EBITDA Margin		 32.94% 31.13% 15.40% 12.39% 27.63% 29.25% 36.34% 25.06% 24.36% 28.48% 28.66%
Operating Margin		 21.97% 22.60% 11.44% 8.70% 20.71% 18.83% 26.88% 16.48% 16.60% 20.28% 19.64%
EBIT Margin		 24.87% 22.46% 11.37% 8.42% 20.74% 19.55% 27.43% 16.68% 17.08% 21.86% 21.36%
Profit (Net Income) Margin		 18.88% 18.17% 9.59% 2.01% 20.58% 19.94% 24.81% 14.67% 15.51% 20.75% 19.01%
Tax Burden Percent		 74.55% 79.02% 81.17% 21.54% 90.51% 96.62% 89.65% 85.42% 80.64% 84.59% 84.52%
Interest Burden Percent		 101.81% 102.41% 103.85% 110.57% 109.61% 105.52% 100.86% 102.95% 112.65% 112.24% 105.34%
Effective Tax Rate		 25.45% 20.98% 18.83% 78.46% 9.49% 3.38% 10.35% 14.58% 19.36% 15.41% 15.48%
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% 12.52%
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% 8.29%
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% -2.50%
Return on Equity (ROE)		 10.33% 9.82% 10.05% 1.87% 10.91% 9.75% 12.61% 7.58% 8.72% 10.88% 10.02%
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% 16.00%
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% 9.09%
Return on Assets (ROA)		 8.90% 8.39% 8.55% 1.57% 8.99% 8.07% 10.55% 6.35% 7.11% 8.68% 8.09%
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% 9.98%
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% 0.00%
Net Operating Profit after Tax (NOPAT)		 159 183 201 40 233 211 309 176 174 219 224
NOPAT Margin		 16.38% 17.86% 9.29% 1.87% 18.74% 18.19% 24.10% 14.08% 13.39% 17.16% 16.60%
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% 4.23%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - - - 8.51%
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% 11.87%
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% 21.24%
R&D to Revenue		 20.74% 21.41% 10.80% 11.23% 19.16% 20.58% 19.80% 20.83% 20.89% 20.70% 19.40%
Operating Expenses to Revenue		 68.26% 66.78% -11.44% -8.70% 66.34% 68.56% 62.97% 72.25% 71.66% 68.69% 68.49%
Earnings before Interest and Taxes (EBIT)		 241 230 246 178 258 227 351 209 222 278 288
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 320 319 333 261 343 340 466 314 317 363 387
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 2.65
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 4.09
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 5.14
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 27.21
Dividend Yield		 1.42% 0.98% 1.06% 0.99% 1.27% 1.42% 0.99% 1.58% 1.70% 1.59% 1.82%
Earnings Yield		 6.28% 3.74% 3.84% 0.62% 4.23% 3.72% 3.45% 2.98% 2.69% 3.63% 3.68%
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 3.46
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 4.50
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 15.71
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 21.08
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 27.12
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 12.86
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 21.23
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		 -0.59 -0.54 -0.54 -0.55 -0.51 -0.48 -0.50 -0.46 -0.43 -0.35 -0.30
Leverage Ratio		 1.16 1.17 1.17 1.20 1.21 1.21 1.19 1.19 1.23 1.25 1.24
Compound Leverage Factor		 1.18 1.20 1.22 1.32 1.33 1.27 1.20 1.23 1.38 1.41 1.30
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		 0.49% 0.43% 0.33% 0.28% 0.25% 0.24% 0.24% 0.21% 0.72% 0.39% 0.36%
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% 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		 7.82 11.23 10.97 10.73 9.46 10.14 13.28 10.84 9.61 9.07 9.20
Noncontrolling Interest Sharing Ratio		 0.87% 0.46% 0.38% 0.31% 0.26% 0.24% 0.24% 0.23% 0.47% 0.55% 0.37%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 3.92 3.57 4.12 5.25 4.50 5.79 5.58 4.72 3.52 2.86 3.17
Quick Ratio		 3.68 3.35 3.86 4.43 3.60 4.86 4.74 3.79 2.72 1.91 2.36
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -29 61 197 -92 103 161 299 115 188 -284 286
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% 2,425.63%
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 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 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 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 0.43
Accounts Receivable Turnover		 10.34 11.57 28.91 17.59 6.99 6.29 6.21 5.27 5.14 4.41 4.17
Inventory Turnover		 8.46 7.21 11.45 9.95 5.50 5.06 7.12 8.19 5.16 4.05 4.99
Fixed Asset Turnover		 2.80 2.42 4.65 4.22 2.36 2.15 2.38 2.39 2.61 2.65 2.84
Accounts Payable Turnover		 5.18 5.70 14.85 14.06 8.66 10.53 8.56 8.85 8.69 7.34 9.09
Days Sales Outstanding (DSO)		 35.30 31.54 12.62 20.76 52.22 58.04 58.82 69.32 71.03 82.77 87.46
Days Inventory Outstanding (DIO)		 43.13 50.62 31.88 36.67 66.41 72.11 51.25 44.56 70.78 90.08 73.11
Days Payable Outstanding (DPO)		 70.46 64.06 24.57 25.96 42.13 34.67 42.66 41.25 41.98 49.76 40.14
Cash Conversion Cycle (CCC)		 7.97 18.09 19.93 31.46 76.50 95.47 67.41 72.63 99.83 123.10 120.44
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 821 943 947 1,079 1,209 1,259 1,270 1,331 1,317 1,820 1,758
Invested Capital Turnover		 1.33 1.16 2.29 2.08 1.09 0.94 1.01 0.96 0.98 0.81 0.75
Increase / (Decrease) in Invested Capital		 188 122 3.91 132 129 51 10 61 -14 503 -62
Enterprise Value (EV)		 1,903 3,942 4,193 5,435 4,928 5,039 7,666 5,268 6,430 6,552 6,073
Market Capitalization		 2,889 4,969 5,382 6,719 6,027 6,212 8,994 6,183 7,467 7,209 6,938
Book Value per Share		 $17.60 $19.52 $20.94 $22.81 $22.90 $24.18 $25.62 $23.00 $24.62 $25.98 $27.36
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 $17.69
Total Capital		 1,816 1,979 2,144 2,371 2,313 2,438 2,604 2,251 2,372 2,487 2,632
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		 -995 -1,035 -1,196 -1,291 -1,104 -1,179 -1,335 -920 -1,055 -667 -874
Capital Expenditures (CapEx)		 158 101 100 73 96 66 38 48 30 30 19
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -62 -95 -116 108 150 153 173 216 108 199 156
Debt-free Net Working Capital (DFNWC)		 612 547 766 1,211 1,075 1,280 1,445 1,033 1,066 777 950
Net Working Capital (NWC)		 612 547 766 1,211 1,075 1,280 1,445 1,033 1,066 777 950
Net Nonoperating Expense (NNE)		 -24 -3.25 -6.50 -2.77 -23 -20 -9.07 -7.41 -28 -46 -33
Net Nonoperating Obligations (NNO)		 -995 -1,035 -1,196 -1,291 -1,104 -1,179 -1,335 -920 -1,055 -667 -874
Total Depreciation and Amortization (D&A)		 78 89 87 84 85 113 114 105 95 84 99
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% 11.59%
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% 70.45%
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% 70.45%
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 $2.66
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 95.87M
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 $2.62
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 97.48M
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 $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 95.51M
Normalized Net Operating Profit after Tax (NOPAT)		 159 184 211 128 266 213 305 186 212 224 237
Normalized NOPAT Margin		 16.37% 17.95% 9.77% 6.08% 21.40% 18.34% 23.84% 14.80% 16.31% 17.58% 17.54%
Pre Tax Income Margin		 25.32% 23.00% 11.81% 9.31% 22.74% 20.63% 27.67% 17.17% 19.24% 24.53% 22.49%
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 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 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 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 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% 50.08%
Augmented Payout Ratio		 92.61% 87.50% 85.38% 566.81% 172.95% 123.34% 117.87% 363.47% 140.89% 124.37% 113.43%

Quarterly Metrics And Ratios for Dolby Laboratories

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 9/29/2023 12/29/2023 3/29/2024 6/28/2024 9/27/2024 12/27/2024 3/28/2025 6/27/2025 9/26/2025 12/26/2025 3/27/2026
DEI Shares Outstanding		 - - - - - - - - - - 95,539,813.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 95,539,813.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.99
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 4.44% -5.78% -3.02% -3.20% 4.90% 13.13% 1.38% 9.25% 0.73% -2.88% 7.05%
EBITDA Growth		 -53.96% -22.03% -1.45% 50.34% 229.76% 18.42% 6.05% 24.06% -20.47% -13.17% 0.29%
EBIT Growth		 -100.89% -24.73% 2.42% 146.00% 21,508.91% 16.41% 3.13% 26.22% -30.77% -19.09% -1.73%
NOPAT Growth		 -115.78% -25.95% -1.56% 164.25% 1,291.94% 14.13% -5.98% 37.35% -22.58% -26.25% 8.98%
Net Income Growth		 -64.31% -14.94% 2.43% 141.73% 494.13% 0.72% -6.10% 17.37% -15.65% -21.14% 3.50%
EPS Growth		 -72.41% -15.85% 3.06% 135.29% 637.50% 1.45% -6.93% 20.00% -15.25% -21.43% 5.32%
Operating Cash Flow Growth		 65.69% -85.09% 73.53% -82.45% 36.65% 1,169.82% -3.59% 218.34% 5.73% -48.68% -47.11%
Free Cash Flow Firm Growth		 126.51% -16.00% 82.14% -54.56% -4,747.65% -949.14% -299.48% -848.30% 121.35% 122.66% 92.61%
Invested Capital Growth		 -1.03% 1.13% -4.59% 4.58% 38.16% 28.11% 28.44% 24.96% -3.42% -1.62% 6.41%
Revenue Q/Q Growth		 -2.62% 8.61% 15.51% -20.77% 5.54% 17.12% 3.52% -14.62% -2.70% 12.92% 14.11%
EBITDA Q/Q Growth		 -42.60% 293.12% 45.09% -54.08% 25.90% 41.17% 29.94% -46.28% -19.29% 54.12% 50.08%
EBIT Q/Q Growth		 -101.49% 29,106.48% 57.93% -64.01% 29.85% 57.73% 39.91% -55.95% -28.79% 84.34% 69.93%
NOPAT Q/Q Growth		 -134.83% 1,544.62% 58.77% -66.92% 57.10% 38.33% 30.80% -51.68% -11.45% 31.78% 93.27%
Net Income Q/Q Growth		 -39.60% 582.09% 45.33% -59.62% 48.45% 15.64% 35.49% -49.53% 6.69% 8.11% 77.82%
EPS Q/Q Growth		 -52.94% 762.50% 46.38% -60.40% 47.50% 18.64% 34.29% -48.94% 4.17% 10.00% 80.00%
Operating Cash Flow Q/Q Growth		 -29.81% -90.11% 2,057.32% -88.28% 446.32% -8.08% 63.79% -61.30% 81.46% -55.39% 68.81%
Free Cash Flow Firm Q/Q Growth		 145.69% 302.38% 288.75% -121.63% -1,273.92% 26.48% 8.68% -2.81% 130.93% -21.97% -129.76%
Invested Capital Q/Q Growth		 -3.23% 7.80% -3.55% 3.95% 27.84% -0.04% -3.31% 1.14% -1.19% 1.81% 4.59%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 87.76% 89.84% 89.36% 87.65% 88.85% 88.58% 90.30% 86.06% 87.13% 87.54% 88.69%
EBITDA Margin		 8.03% 29.06% 36.50% 21.16% 25.24% 30.42% 38.19% 24.02% 19.93% 27.20% 35.77%
Operating Margin		 -1.20% 20.98% 29.89% 12.74% 15.21% 22.38% 29.16% 15.10% 9.67% 17.93% 28.55%
EBIT Margin		 -0.09% 22.70% 31.04% 14.10% 17.35% 23.36% 31.58% 16.29% 11.92% 19.46% 28.99%
Profit (Net Income) Margin		 3.41% 21.42% 26.94% 13.73% 19.31% 19.07% 24.96% 14.75% 16.17% 15.48% 24.13%
Tax Burden Percent		 109.69% 83.61% 80.67% 79.05% 98.55% 79.10% 76.70% 83.84% 119.17% 74.97% 79.75%
Interest Burden Percent		 -3,657.09% 112.82% 107.60% 123.18% 112.96% 103.17% 103.05% 108.00% 113.82% 106.10% 104.38%
Effective Tax Rate		 -9.69% 16.39% 19.33% 20.95% 1.45% 20.90% 23.30% 16.16% -19.17% 25.03% 20.26%
Return on Invested Capital (ROIC)		 -1.29% 15.91% 21.82% 9.11% 12.17% 14.37% 18.88% 10.65% 8.69% 9.97% 17.12%
ROIC Less NNEP Spread (ROIC-NNEP)		 -2.69% 14.57% 20.78% 8.07% 10.64% 13.78% 17.86% 9.94% 6.83% 9.04% 16.44%
Return on Net Nonoperating Assets (RNNOA)		 1.15% -5.73% -8.62% -3.42% -3.77% -4.63% -6.73% -3.65% -2.06% -2.67% -4.98%
Return on Equity (ROE)		 -0.15% 10.18% 13.20% 5.69% 8.40% 9.74% 12.14% 7.00% 6.63% 7.31% 12.13%
Cash Return on Invested Capital (CROIC)		 14.17% 9.82% 15.62% 7.84% -18.11% -10.65% -10.73% -7.66% 16.00% 13.11% 5.62%
Operating Return on Assets (OROA)		 -0.04% 10.23% 13.40% 5.94% 7.26% 10.08% 13.29% 7.11% 5.08% 8.21% 12.21%
Return on Assets (ROA)		 1.56% 9.65% 11.63% 5.78% 8.08% 8.23% 10.50% 6.44% 6.89% 6.53% 10.17%
Return on Common Equity (ROCE)		 -0.15% 10.13% 13.14% 5.65% 8.35% 9.69% 12.08% 6.96% 6.61% 7.28% 12.09%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 8.09% 7.94% 8.85% 0.00% 10.56% 10.06% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -3.83 55 88 29 46 63 83 40 35 47 90
NOPAT Margin		 -1.32% 17.54% 24.11% 10.07% 14.99% 17.70% 22.36% 12.66% 11.52% 13.44% 22.77%
Net Nonoperating Expense Percent (NNEP)		 1.39% 1.33% 1.04% 1.03% 1.53% 0.60% 1.01% 0.71% 1.85% 0.94% 0.68%
Return On Investment Capital (ROIC_SIMPLE)		 - 2.34% - - - 2.51% 3.20% 1.53% 1.34% 1.79% 3.43%
Cost of Revenue to Revenue		 12.24% 10.16% 10.64% 12.35% 11.15% 11.42% 9.70% 13.94% 12.87% 12.46% 11.31%
SG&A Expenses to Revenue		 22.93% 20.65% 18.31% 23.99% 22.71% 19.63% 19.05% 22.91% 24.01% 20.26% 19.20%
R&D to Revenue		 24.24% 21.24% 17.14% 22.68% 22.52% 18.67% 16.70% 20.91% 21.97% 19.92% 16.09%
Operating Expenses to Revenue		 88.97% 68.86% 59.47% 74.92% 73.64% 66.20% 61.14% 70.96% 77.46% 69.61% 60.15%
Earnings before Interest and Taxes (EBIT)		 -0.25 72 113 41 53 83 117 51 37 67 115
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 23 92 133 61 77 109 141 76 61 94 142
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.17 3.46 3.28 3.11 2.91 2.99 2.99 2.73 2.65 2.42 2.12
Price to Tangible Book Value (P/TBV)		 4.20 4.57 4.27 4.02 4.78 4.78 4.71 4.27 4.09 3.69 3.26
Price to Revenue (P/Rev)		 5.75 6.34 6.26 6.00 5.66 5.70 5.83 5.28 5.14 4.69 4.06
Price to Earnings (P/E)		 37.22 43.10 41.73 35.59 27.53 28.51 30.01 26.92 27.21 26.09 22.76
Dividend Yield		 1.70% 1.31% 1.37% 1.48% 1.59% 1.57% 1.58% 1.74% 1.82% 2.05% 2.38%
Earnings Yield		 2.69% 2.32% 2.40% 2.81% 3.63% 3.51% 3.33% 3.71% 3.68% 3.83% 4.39%
Enterprise Value to Invested Capital (EV/IC)		 4.88 5.06 5.03 4.60 3.60 3.74 3.92 3.53 3.46 3.06 2.56
Enterprise Value to Revenue (EV/Rev)		 4.95 5.61 5.43 5.20 5.14 5.17 5.22 4.67 4.50 4.09 3.52
Enterprise Value to EBITDA (EV/EBITDA)		 20.31 24.73 23.87 21.19 18.06 17.91 17.76 15.62 15.71 14.69 12.87
Enterprise Value to EBIT (EV/EBIT)		 28.97 36.23 34.27 29.08 23.53 23.44 23.45 20.66 21.08 20.10 17.76
Enterprise Value to NOPAT (EV/NOPAT)		 36.96 46.55 45.01 38.20 29.98 30.00 31.07 27.02 27.12 26.42 22.35
Enterprise Value to Operating Cash Flow (EV/OCF)		 17.52 22.53 17.41 22.13 20.02 15.98 16.43 13.51 12.86 13.02 14.20
Enterprise Value to Free Cash Flow (EV/FCFF)		 34.26 51.86 31.47 60.01 0.00 0.00 0.00 0.00 21.23 23.12 47.07
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		 -0.43 -0.39 -0.41 -0.42 -0.35 -0.34 -0.38 -0.37 -0.30 -0.30 -0.30
Leverage Ratio		 1.23 1.22 1.23 1.24 1.25 1.25 1.25 1.22 1.24 1.24 1.24
Compound Leverage Factor		 -44.85 1.38 1.32 1.53 1.42 1.29 1.29 1.32 1.41 1.32 1.30
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		 0.72% 0.70% 0.69% 0.60% 0.39% 0.36% 0.36% 0.36% 0.36% 0.35% 0.35%
Common Equity to Total Capital		 99.28% 99.30% 99.31% 99.40% 99.61% 99.64% 99.64% 99.64% 99.64% 99.65% 99.65%
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		 9.36 10.57 9.96 10.70 8.83 8.96 9.16 9.31 8.94 8.38 7.36
Noncontrolling Interest Sharing Ratio		 0.47% 0.46% 0.46% 0.64% 0.55% 0.52% 0.52% 0.48% 0.37% 0.36% 0.35%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 3.52 3.68 3.50 4.14 2.86 2.91 3.04 3.44 3.17 3.17 2.98
Quick Ratio		 2.72 2.77 2.50 3.26 1.91 1.95 2.06 2.56 2.36 2.29 2.08
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 9.83 40 154 -33 -457 -336 -307 -315 98 76 -23
Operating Cash Flow to CapEx		 1,038.67% 137.88% 2,034.65% 279.31% 1,574.33% 1,575.14% 2,535.84% 1,053.06% 756.16% 1,184.08% 1,020.81%
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		 0.46 0.45 0.43 0.42 0.42 0.43 0.42 0.44 0.43 0.42 0.42
Accounts Receivable Turnover		 5.14 4.39 4.49 4.56 4.41 4.16 4.43 4.62 4.17 3.76 3.87
Inventory Turnover		 5.16 4.72 4.47 4.23 4.05 4.30 4.16 4.61 4.99 5.15 5.15
Fixed Asset Turnover		 2.61 2.58 2.57 2.57 2.65 2.75 2.77 2.82 2.84 2.84 2.92
Accounts Payable Turnover		 8.69 9.46 8.02 8.93 7.34 11.50 7.90 9.19 9.09 16.08 9.03
Days Sales Outstanding (DSO)		 71.03 83.07 81.32 80.09 82.77 87.78 82.42 79.06 87.46 97.11 94.32
Days Inventory Outstanding (DIO)		 70.78 77.39 81.62 86.22 90.08 84.88 87.83 79.24 73.11 70.83 70.81
Days Payable Outstanding (DPO)		 41.98 38.59 45.53 40.87 49.76 31.73 46.18 39.72 40.14 22.70 40.42
Cash Conversion Cycle (CCC)		 99.83 121.87 117.41 125.45 123.10 140.93 124.07 118.58 120.44 145.25 124.70
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,317 1,420 1,369 1,424 1,820 1,819 1,759 1,779 1,758 1,790 1,872
Invested Capital Turnover		 0.98 0.91 0.90 0.90 0.81 0.81 0.84 0.84 0.75 0.74 0.75
Increase / (Decrease) in Invested Capital		 -14 16 -66 62 503 399 389 355 -62 -30 113
Enterprise Value (EV)		 6,430 7,188 6,893 6,552 6,552 6,801 6,887 6,288 6,073 5,472 4,798
Market Capitalization		 7,467 8,114 7,944 7,561 7,209 7,490 7,701 7,114 6,938 6,276 5,544
Book Value per Share		 $24.62 $24.60 $25.33 $25.39 $25.98 $26.28 $26.70 $27.11 $27.36 $27.16 $27.40
Tangible Book Value per Share		 $18.60 $18.62 $19.46 $19.61 $15.83 $16.41 $16.98 $17.36 $17.69 $17.79 $17.78
Total Capital		 2,372 2,362 2,438 2,447 2,487 2,517 2,583 2,614 2,632 2,603 2,627
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		 -1,055 -942 -1,068 -1,024 -667 -698 -824 -835 -874 -813 -755
Capital Expenditures (CapEx)		 8.19 6.10 8.92 7.61 7.38 6.78 6.90 6.43 16 4.63 9.06
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 108 208 169 208 199 232 181 192 156 236 266
Debt-free Net Working Capital (DFNWC)		 1,066 1,057 1,109 1,114 777 844 932 949 950 965 940
Net Working Capital (NWC)		 1,066 1,057 1,109 1,114 777 844 932 949 950 965 940
Net Nonoperating Expense (NNE)		 -14 -12 -10 -11 -13 -4.88 -9.58 -6.60 -14 -7.08 -5.39
Net Nonoperating Obligations (NNO)		 -1,055 -942 -1,068 -1,024 -667 -698 -824 -835 -874 -813 -755
Total Depreciation and Amortization (D&A)		 24 20 20 20 24 25 24 24 25 27 27
Debt-free, Cash-free Net Working Capital to Revenue		 8.35% 16.23% 13.29% 16.53% 15.61% 17.66% 13.74% 14.26% 11.59% 17.65% 19.48%
Debt-free Net Working Capital to Revenue		 81.98% 82.57% 87.38% 88.46% 60.97% 64.17% 70.58% 70.48% 70.45% 72.04% 68.88%
Net Working Capital to Revenue		 81.98% 82.57% 87.38% 88.46% 60.97% 64.17% 70.58% 70.48% 70.45% 72.04% 68.88%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.10 $0.70 $1.02 $0.40 $0.62 $0.71 $0.95 $0.48 $0.52 $0.56 $1.00
Adjusted Weighted Average Basic Shares Outstanding		 95.77M 95.38M 95.72M 95.69M 95.54M 95.62M 96.33M 95.90M 95.87M 95.47M 95.22M
Adjusted Diluted Earnings per Share		 $0.08 $0.69 $1.01 $0.40 $0.59 $0.70 $0.94 $0.48 $0.50 $0.55 $0.99
Adjusted Weighted Average Diluted Shares Outstanding		 97.73M 97.44M 96.86M 96.96M 97.33M 97.15M 97.47M 96.90M 97.48M 96.52M 95.52M
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		 95.28M 95.58M 95.84M 95.35M 95.44M 96.38M 96.07M 95.84M 95.51M 95.54M 94.60M
Normalized Net Operating Profit after Tax (NOPAT)		 19 60 86 32 44 67 86 39 25 54 92
Normalized NOPAT Margin		 6.53% 19.16% 23.56% 11.18% 14.57% 18.86% 23.24% 12.51% 8.16% 15.70% 23.21%
Pre Tax Income Margin		 3.11% 25.61% 33.40% 17.37% 19.60% 24.10% 32.54% 17.59% 13.57% 20.65% 30.26%
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		 51.41% 56.45% 57.25% 54.00% 49.06% 49.98% 52.43% 51.05% 50.08% 54.13% 54.57%
Augmented Payout Ratio		 140.89% 172.68% 158.96% 149.17% 124.37% 99.81% 107.39% 106.40% 113.43% 143.45% 154.64%

Financials Breakdown Chart

Key Financial Trends

Dolby Laboratories (DLB) has shown a generally strong operating profile over the last four years, with solid cash generation, healthy margins, and prudent use of capital. Here are the key trends based on quarterly data from 2023 through Q1 2026.

  • Robust cash generation from operations: Net cash from continuing operating activities has stayed positive across quarters, including 174,897,000 in Q2 2025 and 122,831,000 in Q4 2025, with 54,799,000 in Q1 2026.
  • Very high gross margins: Dolby consistently reports gross margins in the high-80s to low-90s range. For example, Q2 2025 gross profit was about 333,724,000 on 369,561,000 revenue (roughly 90% GM), and Q1 2026 gross profit was about 303,498,000 on 346,706,000 revenue (roughly 87%).
  • Revenue has trended higher over the period: Operating revenue rose from the 290–320 million level in 2023–2024 to the mid-360s current range in 2025, with Q2 2025 at 369,561,000 and Q1 2026 at 346,706,000.
  • Solid dividend policy with per-share payments: Cash dividends per share have been in the 0.66–0.72 range, with 0.72 per share in Q1 2026, indicating an ongoing and shareholder-friendly payout.
  • Active stock repurchases supporting capital return: Dolby has executed meaningful stock repurchases, including roughly 41.2 million in Q3 2025, 37.1 million in Q4 2025, and 101.2 million in Q1 2026 (net cash outflows for repurchases).
  • Strong liquidity and a conservative balance sheet: Cash & equivalents hover around 0.64–0.70 billion in late 2024–2025 (e.g., 698.6 million in Q3 2025, 643.8 million in Q4 2025 and Q1 2026), with total liabilities generally in the 0.58–0.65 billion range and total equity well above 2.3 billion.
  • Ongoing investment in R&D and SG&A: Dolby continues meaningful investment in R&D and marketing to sustain product development and brand strength (e.g., Q1 2026 RD expense around 69.1 million; other quarters show 60–70 million in RD and similar levels for SG&A/Marketing).
  • Quarterly margin and earnings variability: Operating income and EPS fluctuate by quarter due to mix and seasonality (e.g., Q2 2025 operating income around 107.8 million vs. Q4 2024 around 29.7 million; Q1 2026 EPS around 0.56–0.55 in basic/diluted terms).
  • Financing outflows for capital returns: Net cash from financing activities has been negative in many quarters due to buybacks and dividends (examples: Q1 2026 net financing outflow of about 121.8 million, Q4 2025 around 64.1 million, Q3 2025 around 60.7 million).
  • Quarterly profitability can be volatile: While net income to common shareholders is positive in most quarters, the pace of earnings per share moves with quarterly revenue mix and expenses, and there are periods of lower pretax income and EPS that may weigh on sentiment.
05/22/26 12:53 PM ETAI Generated. May Contain Errors.

Dolby Laboratories Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Dolby Laboratories' financial year ends in September. Their financial year 2025 ended on September 26, 2025.

Dolby Laboratories' net income appears to be on an upward trend, with a most recent value of $256.49 million in 2025, rising from $183.24 million in 2015. The previous period was $264.32 million in 2024. View Dolby Laboratories' forecast to see where analysts expect Dolby Laboratories to go next.

Dolby Laboratories' total operating income in 2025 was $264.96 million, based on the following breakdown:
  • Total Gross Profit: $1.19 billion
  • Total Operating Expenses: $924.04 million

Over the last 10 years, Dolby Laboratories' total revenue changed from $970.64 million in 2015 to $1.35 billion in 2025, a change of 39.0%.

Dolby Laboratories' total liabilities were at $595.81 million at the end of 2025, a 4.4% decrease from 2024, and a 87.8% increase since 2015.

In the past 10 years, Dolby Laboratories' cash and equivalents has ranged from $482.05 million in 2024 to $1.23 billion in 2021, and is currently $701.89 million as of their latest financial filing in 2025.

Over the last 10 years, Dolby Laboratories' book value per share changed from 17.60 in 2015 to 27.36 in 2025, a change of 55.5%.


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Financial statements for NYSE:DLB last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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