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Dolby Laboratories, Inc. DLB

NYSE · stock · Patent Owners & Lessors · website · IPO 2005-02-17

Dolby Laboratories, Inc. statistics & valuation

P / E19.8×
P / S3.8×
P / B1.9×
P / FCF11.6×
Net margin18.9%
FCF margin32.3%
Return on capital9.5%
Graham number -35%$39.90

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($39.90); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
18.10% 19.10% 4.00% 20.50% 19.90% 24.20% 14.70% 15.40% 20.60% 18.90% 2016201720182019202020212022202320242025
Gross margin (%)
89.40% 89.00% 87.90% 87.00% 87.40% 89.90% 88.70% 88.30% 89.00% 88.10% 2016201720182019202020212022202320242025
Operating margin (%)
22.60% 22.90% 17.40% 20.70% 18.80% 26.90% 16.50% 16.60% 20.30% 19.60% 2016201720182019202020212022202320242025
Return on equity (%)
8.30% 8.60% 1.80% 11.00% 9.50% 11.90% 8.20% 8.50% 10.50% 9.70% 2016201720182019202020212022202320242025
Shares outstanding
102.4M 103.3M 107.0M 104.6M 102.9M 104.6M 102.0M 97.7M 97.3M 97.5M 2016201720182019202020212022202320242025
Net debt ($)
2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
8.00% 8.10% 1.50% 9.00% 7.90% 10.00% 6.80% 6.70% 8.40% 7.90% 2016201720182019202020212022202320242025
Free cash flow margin (%)
25.30% 25.80% 26.50% 18.60% 23.90% 30.70% 21.60% 25.90% 23.30% 32.30% 2016201720182019202020212022202320242025
Debt / equity (×)
2016201720182019202020212022202320242025
EPS ($)
$1.81 $2.00 $0.39 $2.44 $2.25 $2.97 $1.81 $2.05 $2.69 $2.62 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Dolby Laboratories, Inc. trades at about 23.4× earnings — below its 10-year norm (10-year range 25.3×–176.4×, median 29.7×).

23.4× 176.4×

Shaded band = 10-year range (25.3×–176.4×); dot = today's 23.4×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin88.1%89.0%88.3%88.7%89.9%87.4%87.0%87.9%89.0%89.4%
Operating margin19.6%20.3%16.6%16.5%26.9%18.8%20.7%17.4%22.9%22.6%
Net margin18.9%20.6%15.4%14.7%24.2%19.9%20.5%4.0%19.1%18.1%
FCF margin32.3%23.3%25.9%21.6%30.7%23.9%18.6%26.5%25.8%25.3%
Return on assets7.9%8.4%6.7%6.8%10.0%7.9%9.0%1.5%8.1%8.0%
Return on equity9.7%10.5%8.5%8.2%11.9%9.5%11.0%1.8%8.6%8.3%
Current ratio3.172.863.524.725.585.794.505.254.123.57

Computed from company filings · US · as of 2025-09-26. Facts plus Stocktoria's own computed scores — not investment advice.