DLB · Dolby Laboratories, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $1.35B | $1.27B | $1.30B | $1.25B | $1.28B | $1.16B |
| Cost of Revenue | $160.13M | $140.50M | $152.57M | $141.36M | $130.03M | $146.50M |
| Gross Profit | $1.19B | $1.13B | $1.15B | $1.11B | $1.15B | $1.02B |
| R&D | $261.79M | $263.66M | $271.52M | $261.17M | $253.64M | $239.04M |
| SG&A | $286.53M | $270.39M | $258.48M | $275.31M | $224.16M | $219.75M |
| Total Operating Expenses | $924.04M | $874.90M | $931.42M | $905.83M | $806.84M | $796.55M |
| D&A | $87.83M | $75.56M | $82.56M | $88.46M | $95.86M | $90.88M |
| Operating Income | $264.96M | $258.33M | $215.75M | $206.60M | $344.39M | $218.74M |
| Interest Expense | - | - | - | $394.0K | $479.0K | $186.0K |
| Income Tax | $46.99M | $48.16M | $48.41M | $31.38M | $36.69M | $8.10M |
| Net Income | $255.02M | $261.82M | $200.66M | $184.09M | $310.23M | $231.36M |
| EPS - Basic | $2.66 | $2.74 | $2.10 | $1.84 | $3.07 | $2.30 |
| EPS - Diluted | $2.62 | $2.69 | $2.05 | $1.81 | $2.97 | $2.25 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $701.89M | $482.05M | $745.36M | $620.13M | $1.23B | $1.07B |
| Accounts Receivable | $331.10M | $315.46M | $262.25M | $243.59M | $232.61M | $180.34M |
| Inventory | $30.42M | $33.73M | $35.62M | $23.55M | $10.96M | $25.55M |
| Accounts Payable | $17.84M | $17.38M | $20.93M | $14.17M | $17.78M | $12.62M |
| Current Assets | $1.39B | $1.19B | $1.49B | $1.31B | $1.76B | $1.55B |
| Total Assets | $3.23B | $3.11B | $2.98B | $2.69B | $3.11B | $2.92B |
| Current Liabilities | $437.79M | $417.84M | $422.23M | $277.52M | $315.72M | $267.11M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $595.81M | $623.03M | $607.58M | $438.53M | $501.45M | $478.92M |
| Stockholders' Equity | $2.62B | $2.48B | $2.36B | $2.25B | $2.60B | $2.43B |
| Retained Earnings | $2.63B | $2.50B | $2.39B | $2.30B | $2.61B | $2.44B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $472.20M | $327.25M | $367.08M | $318.58M | $447.75M | $343.85M |
| Investing Cash Flow | ($10.59M) | ($286.29M) | $54.21M | ($295.94M) | ($44.91M) | $134.37M |
| Financing Cash Flow | ($247.24M) | ($287.81M) | ($236.81M) | ($610.56M) | ($252.51M) | ($207.78M) |
| CapEx | $36.35M | $30.01M | $30.34M | $47.93M | $54.45M | $66.35M |
| Free Cash Flow | $435.85M | $297.25M | $336.74M | $270.65M | $393.30M | $277.50M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 88.1% | 89.0% | 88.3% | 88.7% | 89.9% | 87.4% |
| Operating margin | 19.6% | 20.3% | 16.6% | 16.5% | 26.9% | 18.8% |
| EBITDA margin | 26.1% | 26.2% | 23.0% | 23.5% | 34.4% | 26.7% |
| Net margin | 18.9% | 20.6% | 15.4% | 14.7% | 24.2% | 19.9% |
| Free cash flow margin | 32.3% | 23.3% | 25.9% | 21.6% | 30.7% | 23.9% |
| FCF / Net income | 1.71 | 1.14 | 1.68 | 1.47 | 1.27 | 1.20 |
| R&D / Revenue | 19.4% | 20.7% | 20.9% | 20.8% | 19.8% | 20.6% |
| SG&A / Revenue | 21.2% | 21.2% | 19.9% | 22.0% | 17.5% | 18.9% |
| Effective tax rate | 15.6% | 15.5% | 19.4% | 14.6% | 10.6% | 3.4% |
| Return on assets | 7.9% | 8.4% | 6.7% | 6.8% | 10.0% | 7.9% |
| Return on equity | 9.7% | 10.6% | 8.5% | 8.2% | 11.9% | 9.5% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 3.17 | 2.86 | 3.52 | 4.72 | 5.58 | 5.79 |
| Quick ratio | 3.10 | 2.78 | 3.44 | 4.64 | 5.54 | 5.70 |
| Cash ratio | 1.60 | 1.15 | 1.77 | 2.23 | 3.88 | 4.01 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | - | - | - | 524.4x | 719.0x | 1176.0x |
| Equity multiplier | 1.23 | 1.26 | 1.27 | 1.20 | 1.20 | 1.20 |
| Liabilities / Assets | 0.18 | 0.20 | 0.20 | 0.16 | 0.16 | 0.16 |
| Efficiency | ||||||
| Asset turnover | 0.42 | 0.41 | 0.44 | 0.47 | 0.41 | 0.40 |
| Inventory turnover | 5.26 | 4.17 | 4.28 | 6.00 | 11.86 | 5.73 |
| Days sales outstanding | 90d | 90d | 74d | 71d | 66d | 57d |
| Days inventory outstanding | 69d | 88d | 85d | 61d | 31d | 64d |
| Days payable outstanding | 41d | 45d | 50d | 37d | 50d | 31d |
| Cash conversion cycle | 118d | 133d | 109d | 95d | 47d | 89d |
| Valuation | ||||||
| P / E | 27.6x | 28.4x | 38.7x | 36.0x | 31.1x | 28.9x |
| P / B | 2.7x | 3.0x | 3.3x | 3.0x | 3.7x | 2.8x |
| P / S | 5.2x | 5.8x | 6.0x | 5.3x | 7.6x | 5.8x |
| EV / EBITDA | 18.0x | 20.9x | 23.5x | 20.4x | 19.2x | 18.1x |
| Growth | ||||||
| Revenue growth (YoY) | 5.9% | -2.0% | 3.7% | -2.1% | 10.3% | -6.4% |
| Revenue CAGR (3y) | 2.5% | -0.2% | 3.8% | 0.3% | 3.0% | 2.4% |
| Revenue CAGR (5y) | 3.0% | 0.5% | 2.1% | 3.0% | 4.5% | 3.7% |
| Gross profit growth (YoY) | 4.9% | -1.2% | 3.1% | -3.4% | 13.4% | -6.1% |
| Operating income growth (YoY) | 2.6% | 19.7% | 4.4% | -40.0% | 57.4% | -14.9% |
| Net income growth (YoY) | -2.6% | 30.5% | 9.0% | -40.7% | 34.1% | -9.3% |
| EPS growth (YoY) | -2.6% | 31.2% | 13.3% | -39.1% | 32.0% | -7.8% |
| EPS CAGR (3y) | 13.1% | -3.2% | -3.1% | -9.5% | 37.6% | 4.9% |
| EPS CAGR (5y) | 3.1% | 2.0% | 12.5% | -1.5% | 10.4% | 5.2% |
| FCF growth (YoY) | 46.6% | -11.7% | 24.4% | -31.2% | 41.7% | 19.9% |
| FCF CAGR (5y) | 9.4% | 5.1% | 3.8% | -0.1% | 9.0% | 12.8% |
| Book value growth (YoY) | 5.9% | 5.2% | 4.8% | -13.5% | 6.8% | 5.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-09-26.
Business segments
$1.35B totalReportable Segment$1.35B · 100.0%
Product / service
$2.60B totalTotal Licensing Revenue$1.25B · 48.1%
Licensing Brodcast Revenue$428.47M · 16.5%
Licensing Mobile Revenue$268.57M · 10.3%
Licensing Other Revenue$248.38M · 9.6%
Licensing PCRevenue$151.89M · 5.8%
Licensing CERevenue$150.70M · 5.8%
Products And Services$101.11M · 3.9%
Geographic
$1.35B totalNon Us$852.14M · 63.2%
US$496.99M · 36.8%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
3.42
Safe
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Patent Owners & Lessors
Comparing Dolby Laboratories against the 5 most active filers in the same SIC group.
Dividends
$1.41/share trailing 12 months · +9.3% YoY
| Ex-date | Per share |
|---|---|
| May 12, 2026 | $0.3600 |
| Feb 10, 2026 | $0.3600 |
| Dec 2, 2025 | $0.3600 |
| Aug 12, 2025 | $0.3300 |
| May 13, 2025 | $0.3300 |
| Feb 11, 2025 | $0.3300 |
| Dec 3, 2024 | $0.3300 |
| Aug 19, 2024 | $0.3000 |
| May 13, 2024 | $0.3000 |
| Feb 12, 2024 | $0.3000 |
| Nov 27, 2023 | $0.3000 |
| Aug 11, 2023 | $0.2700 |
| May 15, 2023 | $0.2700 |
| Feb 13, 2023 | $0.2700 |
| Nov 29, 2022 | $0.2700 |
| Aug 22, 2022 | $0.2500 |
| May 16, 2022 | $0.2500 |
| Feb 15, 2022 | $0.2500 |
| Nov 29, 2021 | $0.2500 |
| Aug 10, 2021 | $0.2200 |
| May 14, 2021 | $0.2200 |
| Feb 8, 2021 | $0.2200 |
| Nov 23, 2020 | $0.2200 |
| Aug 14, 2020 | $0.2200 |