15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 3.0% per year over the past 5 years.
Net income has grown slower than revenue (2.0% vs 3.0% per year).
Operating margin has been roughly flat, at 19.6% in the latest year.
Free cash flow has grown 9.4% per year over the past 5 years.
Shareholder returns
Dividends have been paid for 8 consecutive years, consuming 49.6% of earnings and 29.0% of free cash flow.
The dividend has grown 7.4% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$1.3B
$255M
88.1%
19.6%
9.7%
7.9%
$436M
—
$702M
2024
$1.3B
$262M
89.0%
20.3%
10.6%
8.4%
$297M
—
$482M
2023
$1.3B
$201M
88.3%
16.6%
8.5%
6.7%
$337M
—
$745M
2022
$1.3B
$184M
88.7%
16.5%
8.2%
6.8%
$271M
—
$620M
2021
$1.3B
$310M
89.9%
26.9%
11.9%
10.0%
$393M
—
$1.2B
2020
$1.2B
$231M
87.4%
18.8%
9.5%
7.9%
$278M
—
$1.1B
2019
$1.2B
$255M
87.0%
20.7%
11.1%
9.0%
$231M
—
$797M
2018
$1.1B
$42M
87.9%
17.4%
1.8%
1.5%
$279M
—
$918M
2017
—
$206M
—
—
9.7%
8.1%
$278M
—
$634M
2016
—
$186M
—
—
9.4%
8.0%
$259M
—
$520M
2015
—
$181M
—
—
10.0%
8.5%
$152M
—
$532M
2014
—
$206M
—
—
12.1%
10.4%
$286M
—
$568M
2013
—
$189M
—
—
12.8%
10.9%
$250M
—
$454M
2012
—
$264M
—
—
15.4%
13.5%
$223M
—
$493M
2011
—
$309M
—
—
18.6%
16.4%
$356M
—
$552M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Jun '26
$305M
$29M
86.8%
11.3%
1.1%
0.9%
$152M
—
$669M
Mar '26
$396M
$95M
88.7%
28.5%
3.6%
2.9%
$83M
—
$594M
Dec '25
$347M
$53M
87.5%
17.9%
2.1%
1.7%
$50M
—
$644M
Sep '25
$307M
$49M
87.1%
9.7%
1.9%
1.5%
$107M
—
$702M
Jun '25
$316M
$46M
86.1%
15.1%
1.8%
1.4%
$61M
—
$699M
Mar '25
$370M
$92M
90.3%
29.2%
3.6%
2.8%
$168M
—
$627M
Dec '24
$357M
$68M
88.6%
22.4%
2.7%
2.1%
$100M
—
$521M
Sep '24
$305M
$59M
88.8%
15.2%
2.4%
1.9%
$109M
—
$482M
Jun '24
$289M
$38M
87.7%
12.7%
1.6%
1.3%
$14M
—
$742M
Mar '24
$365M
$98M
89.4%
29.9%
4.0%
3.2%
$172M
—
$710M
Dec '23
$316M
$67M
89.8%
21.0%
2.9%
2.3%
$2M
—
$657M
Sep '23
$291M
$9M
87.8%
-1.2%
0.4%
0.3%
$77M
—
$745M
Jun '23
$298M
$16M
86.1%
5.3%
0.7%
0.5%
$114M
—
$765M
Mar '23
$376M
$96M
89.1%
29.1%
4.1%
3.4%
$97M
—
$688M
Dec '22
$335M
$79M
89.7%
28.1%
3.5%
2.9%
$49M
—
$626M
Sep '22
$278M
$28M
86.6%
9.7%
1.2%
1.0%
$41M
—
$620M
Jul '22
$290M
$40M
87.6%
15.7%
1.6%
1.4%
$161M
—
$859M
Apr '22
$334M
$37M
89.4%
13.0%
1.4%
1.2%
$51M
—
$900M
Dec '21
$352M
$80M
90.7%
25.8%
3.0%
2.6%
$17M
—
$1.1B
Sep '21
$285M
$44M
89.2%
14.2%
1.7%
1.4%
$98M
—
$1.2B
Valuation over time
How the market has priced DLB against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 43.5× (Mar '23) to 23.3× (Nov '26).
The price-to-sales ratio has fallen from 6.4× (Mar '23) to 4.4× (Nov '26).
The dividend yield has risen from 1.3% (Mar '23) to 2.1% (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is DLB growing its revenue and profit?
Over the past 5 years, Dolby Laboratories, Inc.'s revenue has grown 3.0% per year, and net income grown 2.0% per year. These are computed facts, not advice.
How much debt does DLB have?
As of FY2025, Dolby Laboratories, Inc. reported — of total debt against $702M of cash.
What is DLB's profit margin?
In FY2025, gross margin was 88.1%, operating margin 19.6%, and net margin 18.9%.
What is DLB's P/E ratio?
Dolby Laboratories, Inc.'s P/E (TTM) is 26.25 as of the 2026-11-03 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the DLB stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 23.3× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.