Dolby Laboratories, Inc. DLB

Financials SIC 6794 - Patent Owners & Lessors NAICS Real Estate and Rental and Leasing › Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) derived NYSE

Founded in 1965, we are in the business of improving entertainment experiences by inventing and innovating technologies that advance audio and video capture, transmission, and playback. We enable highly compelling experiences in movies and TV shows, music, sports and more by meeting the needs of content creators, distributors, and consumer electronics manufacturers. We have been at the forefront of multiple audio and video revolutions over the last sixty years including the transitions from mono to stereo then surround, analog to digital, and terrestrial broadcasting to streaming. Our strength and durability stem from our ability to combine our expertise in signal processing with our close relationships with artists and other industry experts to continually bring to the creative community technology that allows them to express themselves in new and compelling ways.

Last close 62.85 2026-10-23
Market cap $5.92B estimated share count
52-week range 48.26 - 69.95

Valuation FY2025 figures against the last close

P/S4.4x
P/E24.0x
P/FCF13.6x
EV/EBITDA19.3x
Dividend yield2.1%
Diluted EPS2.62

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • International
  • United States
Revenue by geography, 2 categories over 2 years. The same figures are in the table below. FY2025 International, FY2025: 852.1M (63.2%) 63% International United States, FY2025: 497M (36.8%) 37% United States FY2024 International, FY2024: 823.5M (64.6%) 65% United States, FY2024: 450.3M (35.4%) 35%
Region FY2025FY2024
International $852.1M $823.5M
United States $497.0M $450.3M

As the company reported it, from the “Revenue Recognition (Schedule of Disaggregation of Revenue) (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $1.35B$1.27B$1.30B$1.25B$1.28B$1.16B$1.24B$1.05B$1.08B$1.03B
Cost of revenue $160.1M$140.5M$152.6M$141.4M$130.0M$146.5M$160.9M$127.6M$118.5M$109.0M
Gross profit $1.19B$1.13B$1.15B$1.11B$1.15B$1.02B$1.08B$927.0M$961.6M$916.8M
R&D $261.8M$263.7M$271.5M$261.2M$253.6M$239.0M$237.9M$236.8M$233.3M$219.6M
SG&A $286.5M$270.4M$258.5M$275.3M$224.2M$219.8M$205.4M$197.4M$171.7M$168.9M
Total operating expenses $924.0M$874.9M$931.4M$905.8M$806.8M$796.6M$823.7M$743.5M$714.5M$685.0M
Operating income $265.0M$258.3M$215.8M$206.6M$344.4M$218.7M$257.1M$183.5M$247.1M$231.8M
Interest expense $15.4M$34.1M$28.1M$6.2M$3.0M$186.0K$170.0K$198.0K$127.0K$125.0K
Pre-tax income $303.5M$312.5M$250.1M$215.3M$354.5M$239.7M$282.3M$196.4M$255.1M$235.9M
Income tax $47.0M$48.2M$48.4M$31.4M$36.7M$8.1M$26.8M$154.1M$48.0M$49.5M
Net income $255.0M$261.8M$200.7M$184.1M$310.2M$231.4M$255.2M$41.7M$206.5M$185.9M
EPS, basic 2.662.742.101.843.072.302.510.402.031.85
EPS, diluted 2.622.692.051.812.972.252.440.392.001.81
Shares, diluted (wtd. avg.) 97.5M97.3M97.7M102.0M104.6M102.9M104.6M107.0M103.3M102.4M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $701.9M$482.0M$818.0M$628.4M$1.23B$1.08B$805.6M$925.2M$634.4M$519.8M
Short-term investments $703.0K$0$139.1M$189.2M$38.8M$46.9M$119.1M$178.1M$247.8M$121.6M
Receivables $331.1M$315.5M$262.2M$243.6M$232.6M$180.3M$189.1M$166.1M$73.8M$75.7M
Inventory $30.4M$33.7M$35.6M$23.5M$11.0M$25.6M$32.3M$26.2M$25.1M$16.4M
Total current assets $1.39B$1.19B$1.49B$1.31B$1.76B$1.55B$1.38B$1.50B$1.01B$759.7M
Property, plant and equipment $470.6M$479.1M$481.6M$513.5M$534.4M$542.0M$537.4M$514.2M$485.3M$443.7M
Goodwill $529.9M$533.2M$408.4M$365.1M$340.7M$336.9M$334.8M$328.0M$311.1M$309.6M
Other intangibles $397.1M$434.5M$167.4M$112.3M$122.9M$152.4M$180.9M$184.0M$189.6M$215.3M
Total assets $3.23B$3.11B$2.98B$2.69B$3.11B$2.92B$2.82B$2.87B$2.53B$2.31B
Accounts payable $17.8M$17.4M$20.9M$14.2M$17.8M$12.6M$15.2M$21.9M$14.4M$17.5M
Total current liabilities $437.8M$417.8M$422.2M$277.5M$315.7M$267.1M$306.9M$285.2M$245.8M$213.1M
Total liabilities $595.8M$623.0M$607.6M$438.5M$501.5M$478.9M$508.7M$494.9M$389.7M$331.4M
Retained earnings $2.63B$2.50B$2.39B$2.30B$2.61B$2.44B$2.33B$2.31B$2.08B$1.94B
Total equity $2.62B$2.48B$2.37B$2.25B$2.60B$2.44B$2.31B$2.37B$2.40B$2.23B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $472.2M$327.3M$367.1M$318.6M$447.8M$343.8M$327.7M$352.2M$377.8M$360.1M
Depreciation and amortisation $42.5M$42.4M$54.0M$59.5M$66.4M$61.4M$55.5M$54.8M$53.4M$52.0M
Stock-based compensation $128.5M$119.8M$118.5M$114.9M$99.7M$86.6M$76.6M$71.2M$65.3M$67.0M
Capital expenditure $36.3M$30.0M$30.3M$47.9M$54.5M$66.3M$96.3M$72.8M$99.6M$100.8M
Investing cash flow -$10.6M-$286.3M$54.2M-$295.9M-$44.9M$134.4M-$56.2M$78.1M-$158.0M-$282.5M
Financing cash flow -$247.2M-$287.8M-$236.8M-$610.6M-$252.5M-$207.8M-$385.3M-$133.6M-$106.8M-$92.0M
Dividends paid $126.6M$114.6M$103.4M$100.1M$89.2M$88.6M$77.5M$66.2M$57.1M$48.4M
Buybacks $125.0M$160.0M$149.3M$530.5M$245.9M$173.7M$340.6M$150.5M$100.0M$100.9M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001308547-25-000007.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 500M 1B 1.5B Revenue, FY2016: 1B Gross profit, FY2016: 916.8M Net income, FY2016: 185.9M Revenue, FY2017: 1.1B Gross profit, FY2017: 961.6M Net income, FY2017: 206.5M Revenue, FY2018: 1.1B Gross profit, FY2018: 927M Net income, FY2018: 41.7M Revenue, FY2019: 1.2B Gross profit, FY2019: 1.1B Net income, FY2019: 255.2M Revenue, FY2020: 1.2B Gross profit, FY2020: 1B Net income, FY2020: 231.4M Revenue, FY2021: 1.3B Gross profit, FY2021: 1.2B Net income, FY2021: 310.2M Revenue, FY2022: 1.3B Gross profit, FY2022: 1.1B Net income, FY2022: 184.1M Revenue, FY2023: 1.3B Gross profit, FY2023: 1.1B Net income, FY2023: 200.7M Revenue, FY2024: 1.3B Gross profit, FY2024: 1.1B Net income, FY2024: 261.8M Revenue, FY2025: 1.3B Gross profit, FY2025: 1.2B Net income, FY2025: 255M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.03B $1.08B $1.05B $1.24B $1.16B $1.28B $1.25B $1.30B $1.27B $1.35B
Gross profit $916.8M $961.6M $927.0M $1.08B $1.02B $1.15B $1.11B $1.15B $1.13B $1.19B
Net income $185.9M $206.5M $41.7M $255.2M $231.4M $310.2M $184.1M $200.7M $261.8M $255.0M

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Other event Item 8.01
  • Results announced Item 2.02
  • Other event Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Other event Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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