Dolby Laboratories, Inc. (DLB) Financial Ratios
23 years of historical data (2003–2025) · Technology · Information Technology Services
EV/EBITDA
↓
11.93
↓-37% vs avg
5yr avg: 18.97
30Y Low5.6·High24.8
P/FCF
↓
11.62
↓-49% vs avg
5yr avg: 22.87
30Y Low8.7·High40.2
P/B Ratio
↓
1.94
↓-38% vs avg
5yr avg: 3.11
30Y Low1.8·High4.8
ROE
↓
10.0%
↓+1% vs avg
5yr avg: 9.9%
30Y Low2%·High29%
Debt/EBITDA
↓
0.11
↓-24% vs avg
5yr avg: 0.14
30Y Low0.0·High0.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
DLB Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Dolby Laboratories, Inc. trades at 20.0x earnings, 39% below its 5-year average of 32.7x, sitting at the 24th percentile of its historical range. Compared to the Technology sector median P/E of 29.0x, the stock trades at a discount of 31%. On a free-cash-flow basis, the stock trades at 11.6x P/FCF, 49% below the 5-year average of 22.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.0B | $7.1B | $7.4B | $7.7B | $6.6B | $9.7B | $6.7B | $6.7B | $7.5B | $5.9B | $5.6B |
| Enterprise Value | $4.3B | $6.4B | $6.8B | $7.0B | $6.1B | $8.5B | $5.7B | $5.9B | $6.6B | $5.3B | $5.0B |
| P/E Ratio → | 19.97 | 27.63 | 28.11 | 40.44 | 35.99 | 31.13 | 28.88 | 26.14 | 61.38 | 29.50 | 29.99 |
| P/S Ratio | 3.71 | 5.23 | 5.78 | 5.95 | 5.30 | 7.55 | 5.76 | 5.37 | 7.10 | 5.49 | 5.42 |
| P/B Ratio | 1.94 | 2.68 | 2.96 | 3.26 | 2.95 | 3.71 | 2.74 | 2.88 | 3.41 | 2.77 | 2.81 |
| P/FCF | 11.62 | 16.40 | 24.76 | 22.97 | 25.64 | 24.60 | 24.34 | 31.15 | 28.05 | 21.77 | 40.21 |
| P/OCF | 10.59 | 14.94 | 22.49 | 21.07 | 20.86 | 21.61 | 19.46 | 20.36 | 21.25 | 15.73 | 15.44 |
P/E links to full P/E history page with 30-year chart
DLB EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Dolby Laboratories, Inc.'s enterprise value stands at 11.9x EBITDA, 37% below its 5-year average of 19.0x. The Technology sector median is 16.7x, placing the stock at a 29% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.74 | 5.36 | 5.36 | 4.84 | 6.64 | 4.90 | 4.72 | 6.22 | 4.91 | 4.91 |
| EV / EBITDA | 11.93 | 17.59 | 19.40 | 19.44 | 18.91 | 19.50 | 18.27 | 15.48 | 24.82 | 15.35 | 15.84 |
| EV / EBIT | 16.37 | 22.84 | 21.85 | 27.86 | 28.18 | 24.01 | 23.74 | 20.78 | 33.41 | 20.68 | 21.37 |
| EV / FCF | — | 14.86 | 22.97 | 20.69 | 23.41 | 21.65 | 20.71 | 27.39 | 24.58 | 19.44 | 36.45 |
DLB Profitability
Margins and return-on-capital ratios measuring operating efficiency
Dolby Laboratories, Inc. earns an operating margin of 19.6%. ROE of 10.0% is modest. ROIC of 10.1% represents solid returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 88.1% | 88.1% | 89.0% | 88.3% | 88.7% | 89.9% | 87.4% | 87.0% | 87.9% | 89.1% | 89.4% |
| Operating Margin | 19.6% | 19.6% | 20.8% | 20.2% | 17.3% | 26.6% | 19.0% | 23.6% | 17.4% | 24.2% | 22.7% |
| Net Profit Margin | 18.9% | 18.9% | 20.6% | 15.4% | 14.7% | 24.2% | 19.9% | 20.5% | 4.0% | 18.7% | 18.1% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.0% | 10.0% | 10.8% | 8.7% | 7.6% | 12.3% | 9.7% | 11.3% | 1.9% | 9.8% | 9.8% |
| ROA | 8.0% | 8.0% | 8.5% | 7.0% | 6.3% | 10.2% | 8.0% | 9.0% | 1.5% | 8.3% | 8.4% |
| ROIC | 10.1% | 10.1% | 11.2% | 12.0% | 10.5% | 17.7% | 11.2% | 15.9% | 9.9% | 13.2% | 12.8% |
| ROCE | 9.6% | 9.6% | 10.0% | 10.5% | 8.3% | 12.4% | 8.5% | 11.5% | 7.5% | 11.9% | 11.6% |
DLB Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Dolby Laboratories, Inc. carries a Debt/EBITDA ratio of 0.1x, which is very conservative (96% below the sector average of 2.9x). The company holds a net cash position — cash of $702M exceeds total debt of $39M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.03 | 0.03 | — | — | — | — |
| Debt / EBITDA | 0.11 | 0.11 | 0.13 | 0.14 | 0.16 | 0.17 | 0.26 | — | — | — | — |
| Net Debt / Equity | — | -0.25 | -0.21 | -0.32 | -0.26 | -0.45 | -0.41 | -0.35 | -0.42 | -0.30 | -0.26 |
| Net Debt / EBITDA | -1.82 | -1.82 | -1.51 | -2.14 | -1.80 | -2.66 | -3.21 | -2.13 | -3.50 | -1.83 | -1.63 |
| Debt / FCF | — | -1.54 | -1.79 | -2.28 | -2.23 | -2.95 | -3.63 | -3.76 | -3.47 | -2.32 | -3.76 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($702M) exceeds total debt ($39M)
DLB Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Dolby Laboratories, Inc.'s current ratio of 3.17x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 3.52x to 3.17x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.17 | 3.17 | 2.86 | 3.52 | 4.72 | 5.58 | 5.79 | 4.50 | 4.78 | 4.12 | 3.57 |
| Quick Ratio | 3.10 | 3.10 | 2.78 | 3.44 | 4.64 | 5.54 | 5.70 | 4.40 | 4.69 | 4.01 | 3.49 |
| Cash Ratio | 1.60 | 1.60 | 1.38 | 2.27 | 2.95 | 4.03 | 4.22 | 3.01 | 4.05 | 3.59 | 3.01 |
| Asset Turnover | — | 0.42 | 0.41 | 0.43 | 0.46 | 0.41 | 0.40 | 0.44 | 0.37 | 0.43 | 0.44 |
| Inventory Turnover | 5.26 | 5.26 | 4.17 | 4.28 | 6.00 | 11.86 | 5.73 | 4.98 | 4.87 | 4.72 | 6.66 |
| Days Sales Outstanding | — | 138.49 | 146.99 | 124.79 | 122.18 | 118.20 | 107.35 | 113.34 | 115.78 | 25.72 | 27.39 |
DLB Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Dolby Laboratories, Inc. returns 5.7% to shareholders annually — split between a 2.5% dividend yield and 3.2% buyback yield. A payout ratio of 49.6% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 5.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.5% | 1.8% | 1.6% | 1.3% | 1.5% | 0.9% | 1.3% | 1.2% | 0.9% | 1.0% | 0.9% |
| Payout Ratio | 49.6% | 49.6% | 43.8% | 51.5% | 54.4% | 28.7% | 38.3% | 30.4% | 158.5% | 28.3% | 26.0% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.0% | 3.6% | 3.6% | 2.5% | 2.8% | 3.2% | 3.5% | 3.8% | 1.6% | 3.4% | 3.3% |
| FCF Yield | 8.6% | 6.1% | 4.0% | 4.4% | 3.9% | 4.1% | 4.1% | 3.2% | 3.6% | 4.6% | 2.5% |
| Buyback Yield | 3.2% | 2.3% | 2.7% | 2.3% | 8.5% | 2.9% | 2.9% | 5.4% | 2.3% | 2.0% | 2.1% |
| Total Shareholder Yield | 5.7% | 4.1% | 4.3% | 3.7% | 10.0% | 3.8% | 4.3% | 6.6% | 3.2% | 2.9% | 2.9% |
| Shares Outstanding | — | $97M | $97M | $98M | $102M | $105M | $103M | $105M | $107M | $103M | $102M |
Peer Comparison
Compare DLB with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 DLBYou | $5B | 20.0 | 11.9 | 11.6 | 88.1% | 19.6% | 10.0% | 10.1% | 0.1 |
 IRDM | $5B | 42.0 | 14.3 | 15.7 | 77.3% | 27.1% | 22.0% | 8.0% | 3.9 |
 IPGP | $5B | 161.7 | 57.6 | — | 38.0% | 1.3% | 1.5% | 0.6% | — |
 QCOM | $238B | 45.1 | 17.7 | 18.6 | 55.4% | 27.9% | 23.3% | 29.1% | 1.2 |
 IDCC | $8B | 25.1 | 13.7 | 14.4 | 80.3% | 55.3% | 41.5% | 40.9% | 0.9 |
 VIA | $1B | -12.7 | — | — | 39.6% | -17.6% | -15.4% | -23.1% | — |
 PLAB | $2B | 14.8 | 5.2 | 33.2 | 35.3% | 24.5% | 8.9% | 15.5% | 0.0 |
 SONO | $2B | -28.8 | 140.0 | 16.4 | 43.7% | -3.5% | -15.6% | -13.4% | 5.0 |
 LOGI | $15B | 22.4 | 17.7 | 15.8 | 43.2% | 16.0% | 32.7% | 97.8% | — |
 SLAB | $7B | -111.0 | — | 110.2 | 58.2% | -9.0% | -6.0% | -6.8% | — |
 AAPL | $4.4T | 39.9 | 30.8 | 44.3 | 46.9% | 32.0% | 171.4% | 67.4% | 0.8 |
| Technology Median | — | 29.0 | 16.7 | 19.2 | 48.8% | 0.2% | 1.6% | 2.7% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 23 years · Updated daily
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DLB — Frequently Asked Questions
Quick answers to the most common questions about buying DLB stock.
What is Dolby Laboratories, Inc.'s P/E ratio?
Dolby Laboratories, Inc.'s current P/E ratio is 20.0x. The historical average is 27.1x. This places it at the 24th percentile of its historical range.
What is Dolby Laboratories, Inc.'s EV/EBITDA?
Dolby Laboratories, Inc.'s current EV/EBITDA is 11.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.1x.
What is Dolby Laboratories, Inc.'s ROE?
Dolby Laboratories, Inc.'s return on equity (ROE) is 10.0%. The historical average is 14.5%.
Is DLB stock overvalued?
Based on historical data, Dolby Laboratories, Inc. is trading at a P/E of 20.0x. This is at the 24th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Dolby Laboratories, Inc.'s dividend yield?
Dolby Laboratories, Inc.'s current dividend yield is 2.48% with a payout ratio of 49.6%.
What are Dolby Laboratories, Inc.'s profit margins?
Dolby Laboratories, Inc. has 88.1% gross margin and 19.6% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Dolby Laboratories, Inc. have?
Dolby Laboratories, Inc.'s Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.