Dolby Laboratories Inc Financials

DLB

Source SEC Filings (10-K/10-Q) Updated Dec 26, 2025 Currency USD FYE September

This page shows Dolby Laboratories Inc (DLB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Key Financial Metrics

Revenue

$1.3B

YoY+7.6%

5Y CAGR+5.0%

10Y CAGR+4.0%

Dolby Laboratories Inc generated $1.3B in revenue in fiscal year 2025. This represents an increase of 7.6% from the prior year.

EBITDA

$352.8M

YoY+19.6%

5Y CAGR+5.9%

10Y CAGR+1.7%

Dolby Laboratories Inc's EBITDA was $352.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 19.6% from the prior year.

Free Cash Flow

$435.9M

YoY+61.0%

5Y CAGR+9.3%

10Y CAGR+5.7%

Dolby Laboratories Inc generated $435.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 61.0% from the prior year.

Net Income

$255.0M

YoY+38.5%

5Y CAGR+43.6%

10Y CAGR+3.0%

Dolby Laboratories Inc reported $255.0M in net income in fiscal year 2025. This represents an increase of 38.5% from the prior year.

EPS (Diluted)

$2.62

YoY+44.8%

5Y CAGR+46.4%

10Y CAGR+3.6%

Dolby Laboratories Inc earned $2.62 per diluted share (EPS) in fiscal year 2025. This represents an increase of 44.8% from the prior year.

Cash & Debt

$701.9M

YoY+13.2%

5Y CAGR-5.2%

10Y CAGR+4.4%

Dolby Laboratories Inc held $701.9M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.32

YoY+29.4%

5Y CAGR+14.5%

10Y CAGR-10.5%

Dolby Laboratories Inc paid $1.32 per share in dividends in fiscal year 2025. This represents an increase of 29.4% from the prior year.

Shares Outstanding

N/A

Gross Margin

88.1%

YoY-0.6pp

5Y CAGR+0.2pp

10Y CAGR-1.2pp

Dolby Laboratories Inc's gross margin was 88.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.6 percentage points from the prior year.

Operating Margin

19.6%

YoY+3.2pp

5Y CAGR+2.2pp

10Y CAGR-7.3pp

Dolby Laboratories Inc's operating margin was 19.6% in fiscal year 2025, reflecting core business profitability. This is up 3.2 percentage points from the prior year.

Net Margin

18.9%

YoY+4.2pp

5Y CAGR+14.9pp

10Y CAGR-1.9pp

Dolby Laboratories Inc's net profit margin was 18.9% in fiscal year 2025, showing the share of revenue converted to profit. This is up 4.2 percentage points from the prior year.

Return on Equity

9.7%

YoY+1.5pp

5Y CAGR+8.0pp

10Y CAGR-2.9pp

Dolby Laboratories Inc's ROE was 9.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1.5 percentage points from the prior year.

R&D Spending

$261.8M

YoY+0.2%

5Y CAGR+2.0%

10Y CAGR+4.5%

Dolby Laboratories Inc invested $261.8M in research and development in fiscal year 2025. This represents an increase of 0.2% from the prior year.

Share Buybacks

$125.0M

YoY-76.4%

5Y CAGR-3.6%

10Y CAGR+4.3%

Dolby Laboratories Inc spent $125.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 76.4% from the prior year.

Capital Expenditures

$36.3M

YoY-24.2%

5Y CAGR-13.0%

10Y CAGR+3.1%

Dolby Laboratories Inc invested $36.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 24.2% from the prior year.

DLB Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.3B+7.6%	$1.3B-2.1%	$1.3B+10.3%	$1.2B-6.4%	$1.2B+17.7%	$1.1B
Cost of Revenue	$160.1M+13.3%	$141.4M+8.7%	$130.0M-11.2%	$146.5M-8.9%	$160.9M+26.1%	$127.6M
Gross Profit	$1.2B+6.9%	$1.1B-3.4%	$1.2B+13.4%	$1.0B-6.1%	$1.1B+16.6%	$927.0M
R&D Expenses	$261.8M+0.2%	$261.2M+3.0%	$253.6M+6.1%	$239.0M+0.5%	$237.9M+0.5%	$236.8M
SG&A Expenses	$286.5M+4.1%	$275.3M+22.8%	$224.2M+2.0%	$219.8M+7.0%	$205.4M+4.1%	$197.4M
Operating Income	$265.0M+28.2%	$206.6M-40.0%	$344.4M+57.4%	$218.7M-14.9%	$257.1M+40.1%	$183.5M
Interest Expense	$15.4M+149.0%	$6.2M+104.8%	$3.0M+1520.4%	$186K+9.4%	$170K-14.1%	$198K
Income Tax	$47.0M+49.7%	$31.4M-14.5%	$36.7M+353.2%	$8.1M-69.8%	$26.8M-82.6%	$154.1M
Net Income	$255.0M+38.5%	$184.1M-40.7%	$310.2M+34.1%	$231.4M-9.3%	$255.2M+511.2%	$41.7M
EPS (Diluted)	$2.62+44.8%	$1.81-39.1%	$2.97+32.0%	$2.25-7.8%	$2.44+525.6%	$0.39

Metric	Q1'26	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q3'23
Revenue	$346.7M+9.9%	$315.5M-14.6%	$369.6M+17.1%	$315.6M+5.8%	$298.4M-20.6%	$375.9M+12.2%	$334.9M+15.7%	$289.6M
Cost of Revenue	$43.2M-1.8%	$44.0M+22.8%	$35.8M+11.8%	$32.1M-22.8%	$41.5M+1.1%	$41.0M+19.2%	$34.5M-4.2%	$36.0M
Gross Profit	$303.5M+11.8%	$271.5M-18.6%	$333.7M+17.7%	$283.5M+10.4%	$256.9M-23.3%	$334.8M+11.4%	$300.5M+18.5%	$253.6M
R&D Expenses	$69.1M+4.7%	$66.0M+6.9%	$61.7M-7.9%	$67.0M-2.4%	$68.7M+1.1%	$68.0M+5.4%	$64.5M+2.5%	$62.9M
SG&A Expenses	$70.2M-2.9%	$72.3M+2.7%	$70.4M+8.1%	$65.2M-6.8%	$70.0M+12.9%	$61.9M+3.3%	$60.0M+5.0%	$57.1M
Operating Income	$62.2M+30.5%	$47.6M-55.8%	$107.8M+62.7%	$66.2M+315.6%	$15.9M-85.4%	$109.2M+16.1%	$94.1M+106.5%	$45.6M
Interest Expense	N/A	N/A	N/A	N/A	$114K+435.3%	-$34K-142.0%	$81K-3.6%	$84K
Income Tax	$17.9M+99.7%	$9.0M-68.0%	$28.0M+111.5%	$13.3M+80.3%	$7.4M-65.6%	$21.4M+4.2%	$20.5M+109.5%	$9.8M
Net Income	$53.3M+15.7%	$46.1M-49.8%	$91.8M+37.0%	$67.0M+308.4%	$16.4M-82.9%	$95.7M+20.6%	$79.4M+100.5%	$39.6M
EPS (Diluted)	$0.55+14.6%	$0.48-48.9%	$0.94+36.2%	$0.69+305.9%	$0.17-82.7%	$0.98+19.5%	$0.82+110.3%	$0.39

DLB Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$3.2B+20.0%	$2.7B-13.4%	$3.1B+6.5%	$2.9B+3.4%	$2.8B-1.5%	$2.9B
Current Assets	$1.4B+5.9%	$1.3B-25.5%	$1.8B+13.8%	$1.5B+12.0%	$1.4B-7.7%	$1.5B
Cash & Equivalents	$701.9M+13.2%	$620.1M-49.4%	$1.2B+14.3%	$1.1B+34.5%	$797.2M-13.2%	$918.1M
Inventory	$30.4M+29.2%	$23.5M+114.8%	$11.0M-57.1%	$25.6M-21.0%	$32.3M+23.4%	$26.2M
Accounts Receivable	$331.1M+35.9%	$243.6M+4.7%	$232.6M+29.0%	$180.3M-4.6%	$189.1M+13.8%	$166.1M
Goodwill	$529.9M+45.1%	$365.1M+7.2%	$340.7M+1.1%	$336.9M+0.6%	$334.8M+2.1%	$328.0M
Total Liabilities	$595.8M+35.9%	$438.5M-12.5%	$501.5M+4.7%	$478.9M-5.9%	$508.7M+2.8%	$494.9M
Current Liabilities	$437.8M+57.8%	$277.5M-12.1%	$315.7M+18.2%	$267.1M-13.0%	$306.9M+7.6%	$285.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$2.6B+16.5%	$2.3B-13.6%	$2.6B+6.8%	$2.4B+5.4%	$2.3B-2.4%	$2.4B
Retained Earnings	$2.6B+14.7%	$2.3B-11.9%	$2.6B+6.7%	$2.4B+5.0%	$2.3B+0.6%	$2.3B

Metric	Q1'26	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q3'23
Total Assets	$3.2B-0.1%	$3.2B-1.0%	$3.2B+10.0%	$2.9B-1.5%	$3.0B+5.1%	$2.8B+3.2%	$2.7B+2.2%	$2.7B
Current Assets	$1.4B+5.2%	$1.3B-3.7%	$1.4B-4.3%	$1.5B-2.4%	$1.5B+1.7%	$1.5B+8.4%	$1.3B+2.9%	$1.3B
Cash & Equivalents	$643.8M-7.8%	$698.6M+11.5%	$626.6M-4.6%	$656.8M-11.9%	$745.4M+8.3%	$688.4M+9.9%	$626.2M+1.0%	$620.1M
Inventory	$31.3M-3.6%	$32.4M-6.3%	$34.6M-7.9%	$37.6M+5.5%	$35.6M+17.4%	$30.4M+16.2%	$26.1M+10.9%	$23.5M
Accounts Receivable	$373.1M+25.4%	$297.6M-5.3%	$314.1M+7.1%	$293.2M+11.8%	$262.2M-7.4%	$283.3M-2.2%	$289.6M+18.9%	$243.6M
Goodwill	$530.3M+0.3%	$528.8M+0.7%	$525.0M+27.9%	$410.4M+0.5%	$408.4M+10.3%	$370.1M+0.2%	$369.4M+1.2%	$365.1M
Total Liabilities	$589.3M+1.3%	$581.8M-9.9%	$646.0M+12.7%	$573.2M-5.7%	$607.6M+26.5%	$480.1M+5.3%	$456.0M+4.0%	$438.5M
Current Liabilities	$443.5M+14.1%	$388.8M-15.0%	$457.5M+16.1%	$394.1M-6.7%	$422.2M+34.5%	$314.0M+8.1%	$290.4M+4.7%	$277.5M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$2.6B-0.4%	$2.6B+0.8%	$2.6B+9.3%	$2.4B-0.4%	$2.4B+0.7%	$2.4B+2.8%	$2.3B+1.8%	$2.3B
Retained Earnings	$2.6B-0.5%	$2.6B+0.6%	$2.6B+9.9%	$2.4B-1.0%	$2.4B+0.6%	$2.4B+2.5%	$2.3B+0.9%	$2.3B

DLB Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$472.2M+48.2%	$318.6M-28.9%	$447.8M+30.2%	$343.8M+4.9%	$327.7M-7.0%	$352.2M
Capital Expenditures	$36.3M-24.2%	$47.9M-12.0%	$54.5M-17.9%	$66.3M-31.1%	$96.3M+32.2%	$72.8M
Free Cash Flow	$435.9M+61.0%	$270.6M-31.2%	$393.3M+41.7%	$277.5M+19.9%	$231.4M-17.2%	$279.4M
Investing Cash Flow	-$10.6M+96.4%	-$295.9M-559.0%	-$44.9M-133.4%	$134.4M+339.0%	-$56.2M-172.0%	$78.1M
Financing Cash Flow	-$247.2M+59.5%	-$610.6M-141.8%	-$252.5M-21.5%	-$207.8M+46.1%	-$385.3M-188.3%	-$133.6M
Dividends Paid	$126.6M+26.5%	$100.1M+12.2%	$89.2M+0.7%	$88.6M+14.3%	$77.5M+17.1%	$66.2M
Share Buybacks	$125.0M-76.4%	$530.5M+115.8%	$245.9M+41.5%	$173.7M-49.0%	$340.6M+126.3%	$150.5M

Metric	Q1'26	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q3'23
Operating Cash Flow	$54.8M	N/A	N/A	$8.4M	N/A	N/A	$56.4M	N/A
Capital Expenditures	$4.6M	N/A	N/A	$6.1M	N/A	N/A	$7.2M	N/A
Free Cash Flow	$50.2M	N/A	N/A	$2.3M	N/A	N/A	$49.2M	N/A
Investing Cash Flow	$1.2M	N/A	N/A	$633K	N/A	N/A	$28.3M	N/A
Financing Cash Flow	-$121.8M	N/A	N/A	-$125.1M	N/A	N/A	-$90.1M	N/A
Dividends Paid	$34.3M+8.7%	$31.6M-0.6%	$31.8M+11.4%	$28.6M	N/A	N/A	$25.9M	N/A
Share Buybacks	$70.0M0.0%	$70.0M+100.0%	$35.0M-56.3%	$80.0M+220.0%	$25.0M-49.9%	$49.9M+0.9%	$49.4M-77.5%	$220.0M

DLB Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	88.1%-0.6pp	88.7%-1.1pp	89.8%+2.5pp	87.4%+0.4pp	87.0%-0.9pp	87.9%
Operating Margin	19.6%+3.2pp	16.5%-10.4pp	26.9%+8.0pp	18.8%-1.9pp	20.7%+3.3pp	17.4%
Net Margin	18.9%+4.2pp	14.7%-9.5pp	24.2%+4.3pp	19.9%-0.6pp	20.5%+16.6pp	4.0%
Return on Equity	9.7%+1.5pp	8.2%-3.7pp	11.9%+2.4pp	9.5%-1.5pp	11.0%+9.3pp	1.8%
Return on Assets	7.9%+1.1pp	6.8%-3.1pp	10.0%+2.1pp	7.9%-1.1pp	9.0%+7.6pp	1.5%
Current Ratio	3.17-1.6	4.72-0.9	5.58-0.2	5.79+1.3	4.50-0.7	5.25
Debt-to-Equity	0.23+0.0	0.190.0	0.190.0	0.20-0.0	0.22+0.0	0.21
FCF Margin	32.3%+10.7pp	21.6%-9.1pp	30.7%+6.8pp	23.9%+5.2pp	18.6%-7.9pp	26.5%

Metric	Q1'26	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q3'23
Gross Margin	87.5%+1.5pp	86.1%-4.2pp	90.3%+0.5pp	89.8%+3.7pp	86.1%-3.0pp	89.1%-0.6pp	89.7%+2.1pp	87.6%
Operating Margin	17.9%+2.8pp	15.1%-14.1pp	29.2%+8.2pp	21.0%+15.6pp	5.3%-23.7pp	29.1%+1.0pp	28.1%+12.4pp	15.7%
Net Margin	15.4%+0.8pp	14.6%-10.2pp	24.8%+3.6pp	21.2%+15.7pp	5.5%-20.0pp	25.5%+1.8pp	23.7%+10.0pp	13.7%
Return on Equity	2.1%+0.3pp	1.8%-1.8pp	3.5%+0.7pp	2.8%+2.2pp	0.7%-3.4pp	4.1%+0.6pp	3.5%+1.8pp	1.6%
Return on Assets	1.7%+0.2pp	1.4%-1.4pp	2.8%+0.6pp	2.3%+1.7pp	0.5%-2.8pp	3.4%+0.5pp	2.9%+1.5pp	1.4%
Current Ratio	3.17-0.3	3.44+0.4	3.04-0.6	3.68+0.2	3.52-1.1	4.66+0.0	4.65-0.1	4.72
Debt-to-Equity	0.230.0	0.22-0.0	0.250.0	0.24-0.0	0.26+0.1	0.200.0	0.200.0	0.19
FCF Margin	14.5%	N/A	N/A	0.7%	N/A	N/A	14.7%	N/A

Financial Health Signals

Financial Profile 81/100

Profitability

Growth

Leverage

100

Liquidity

100

Cash Flow

100

Returns

Based on FY2025 annual data. Scores normalized against common benchmarks.

Altman Z-Score Safe

8.59

Bankruptcy risk indicator. Above 2.99 = safe, below 1.81 = distress.

Piotroski F-Score Neutral

4/9

Financial strength trend (9 signals). 7-9 = strong, 0-3 = weak.

Earnings Quality Cash-Backed

1.85x

Operating cash flow vs net income. Above 1.0x = cash-backed earnings.

Interest Coverage Safe

17.2x

Operating income vs interest expense. Above 5x = safe, below 2x = risky.

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Frequently Asked Questions

What is Dolby Laboratories Inc's annual revenue?

Dolby Laboratories Inc (DLB) reported $1.3B in total revenue for fiscal year 2025. This represents a 7.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Dolby Laboratories Inc's revenue growing?

Dolby Laboratories Inc (DLB) revenue grew by 7.6% year-over-year, from $1.3B to $1.3B in fiscal year 2025.

Is Dolby Laboratories Inc profitable?

Yes, Dolby Laboratories Inc (DLB) reported a net income of $255.0M in fiscal year 2025, with a net profit margin of 18.9%.

What is Dolby Laboratories Inc's earnings per share (EPS)?

Dolby Laboratories Inc (DLB) reported diluted earnings per share of $2.62 for fiscal year 2025. This represents a 44.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Dolby Laboratories Inc's EBITDA?

Dolby Laboratories Inc (DLB) had EBITDA of $352.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Dolby Laboratories Inc's gross margin?

Dolby Laboratories Inc (DLB) had a gross margin of 88.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Dolby Laboratories Inc's operating margin?

Dolby Laboratories Inc (DLB) had an operating margin of 19.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Dolby Laboratories Inc's net profit margin?

Dolby Laboratories Inc (DLB) had a net profit margin of 18.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Dolby Laboratories Inc pay dividends?

Yes, Dolby Laboratories Inc (DLB) paid $1.32 per share in dividends during fiscal year 2025.

What is Dolby Laboratories Inc's return on equity (ROE)?

Dolby Laboratories Inc (DLB) has a return on equity of 9.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Dolby Laboratories Inc's free cash flow?

Dolby Laboratories Inc (DLB) generated $435.9M in free cash flow during fiscal year 2025. This represents a 61.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Dolby Laboratories Inc's operating cash flow?

Dolby Laboratories Inc (DLB) generated $472.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Dolby Laboratories Inc's total assets?

Dolby Laboratories Inc (DLB) had $3.2B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Dolby Laboratories Inc's capital expenditures?

Dolby Laboratories Inc (DLB) invested $36.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Dolby Laboratories Inc spend on research and development?

Dolby Laboratories Inc (DLB) invested $261.8M in research and development during fiscal year 2025.

Does Dolby Laboratories Inc buy back shares?

Yes, Dolby Laboratories Inc (DLB) spent $125.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is Dolby Laboratories Inc's current ratio?

Dolby Laboratories Inc (DLB) had a current ratio of 3.17 as of fiscal year 2025, which is generally considered healthy.

What is Dolby Laboratories Inc's debt-to-equity ratio?

Dolby Laboratories Inc (DLB) had a debt-to-equity ratio of 0.23 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Dolby Laboratories Inc's return on assets (ROA)?

Dolby Laboratories Inc (DLB) had a return on assets of 7.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Dolby Laboratories Inc's Altman Z-Score?

Dolby Laboratories Inc (DLB) has an Altman Z-Score of 8.59, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress.

What is Dolby Laboratories Inc's Piotroski F-Score?

Dolby Laboratories Inc (DLB) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals.

Are Dolby Laboratories Inc's earnings high quality?

Dolby Laboratories Inc (DLB) has an earnings quality ratio of 1.85x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation.

Can Dolby Laboratories Inc cover its interest payments?

Dolby Laboratories Inc (DLB) has an interest coverage ratio of 17.2x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline.

How financially healthy is Dolby Laboratories Inc?

Dolby Laboratories Inc (DLB) scores 81 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks.