Stock DLB DOLBY LABORATORIES, INC.
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Financials Dolby Laboratories, Inc.

Equities

DLB

US25659T1079

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 02:56:02 2024-05-15 pm EDT 		5-day change 1st Jan Change
83.94 USD +1.65% Intraday chart for Dolby Laboratories, Inc. +1.68% -2.51%
May. 03 Dolby Laboratories Fiscal Q2 Adjusted Earnings Rise, Revenue Declines; Issues Fiscal Q3 Outlook MT
May. 02 Transcript : Dolby Laboratories, Inc., Q2 2024 Earnings Call, May 02, 2024

Valuation

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 6,428 6,646 8,996 6,416 7,581 7,913 - -
Enterprise Value (EV) 1 5,503 5,519 7,724 5,599 7,581 7,913 7,913 7,913
P/E ratio 26.1 x 29.4 x 29.9 x 36.3 x 38.7 x 32.6 x 29.3 x 25.8 x
Yield 1.24% 1.33% 1.03% 1.55% - 1.45% 1.45% 1.45%
Capitalization / Revenue 5.18 x 5.72 x 7.02 x 5.12 x 5.83 x 6.12 x 5.81 x 5.37 x
EV / Revenue 5.18 x 5.72 x 7.02 x 5.12 x 5.83 x 6.12 x 5.81 x 5.37 x
EV / EBITDA 14.1 x 16.8 x 16.4 x 15.3 x 16.3 x 17 x 16 x -
EV / FCF 27,780,189 x 23,950,482 x 22,873,461 x 23,707,449 x 22,511,374 x - - -
FCF Yield 0% 0% 0% 0% 0% - - -
Price to Book 2.88 x 2.72 x 3.45 x 2.8 x - - - -
Nbr of stocks (in thousands) 100,770 100,595 101,387 97,677 95,641 95,835 - -
Reference price 2 63.79 66.07 88.73 65.69 79.26 82.57 82.57 82.57
Announcement Date 11/14/19 11/12/20 11/16/21 11/17/22 11/16/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,242 1,162 1,281 1,254 1,300 1,293 1,363 1,475
EBITDA 1 455.3 394.5 550.2 420.6 463.9 466.1 493.1 -
EBIT 1 257.1 218.7 344.4 206.6 215.8 247.1 306.9 352.7
Operating Margin 20.7% 18.83% 26.88% 16.48% 16.6% 19.11% 22.52% 23.92%
Earnings before Tax (EBT) 1 282.3 239.7 354.5 215.3 250.1 290.4 339.4 385.8
Net income 1 255.2 231.4 310.2 184.1 200.7 234.7 270.2 307.1
Net margin 20.55% 19.91% 24.21% 14.68% 15.44% 18.16% 19.82% 20.83%
EPS 2 2.440 2.250 2.970 1.810 2.050 2.535 2.820 3.200
Free Cash Flow 231.4 277.5 393.3 270.6 336.7 - - -
FCF margin 18.64% 23.89% 30.7% 21.59% 25.91% - - -
FCF Conversion (EBITDA) 50.82% 70.34% 71.48% 64.35% 72.6% - - -
FCF Conversion (Net income) 90.69% 119.94% 126.78% 147.02% 167.82% - - -
Dividend per Share 2 0.7900 0.8800 0.9100 1.020 - 1.200 1.200 1.200
Announcement Date 11/14/19 11/12/20 11/16/21 11/17/22 11/16/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: September 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3
Net sales 1 351.6 334.4 289.6 278.2 334.9 375.9 298.4 290.6 315.6 364.5 286.2 326.6 339.6 380.8 300.6
EBITDA 1 146.6 133 97.69 77.73 144.2 160.3 66.2 76.43 122.1 153.4 78.8 111.8 134.8 144.9 93.2
EBIT 1 90.58 43.35 45.57 27.11 94.09 109.2 15.94 -3.494 66.22 109 26.83 45.08 100.5 118.7 37.32
Operating Margin 25.76% 12.96% 15.73% 9.74% 28.09% 29.06% 5.34% -1.2% 20.98% 29.89% 9.38% 13.8% 29.61% 31.17% 12.41%
Earnings before Tax (EBT) 1 91.44 43.45 49.41 30.97 99.98 117.3 23.76 9.033 80.83 121.7 35 52.84 108.5 126.8 45.47
Net income 1 80.01 36.72 39.6 27.76 79.38 95.7 16.4 9.186 66.98 97.83 27.86 42.06 86.4 100.9 36.2
Net margin 22.75% 10.98% 13.67% 9.98% 23.7% 25.46% 5.5% 3.16% 21.23% 26.84% 9.74% 12.88% 25.44% 26.5% 12.04%
EPS 2 0.7700 0.3600 0.3900 0.2800 0.8200 0.9800 0.1700 0.0900 0.6900 1.010 0.3050 0.5250 0.8500 0.9700 0.4150
Dividend per Share 0.2500 0.2500 0.2500 0.2700 - 0.2700 - - - - - - - - -
Announcement Date 2/3/22 5/5/22 8/9/22 11/17/22 2/2/23 5/4/23 8/3/23 11/16/23 2/1/24 5/2/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position 925 1,127 1,272 818 - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 231 278 393 271 337 - - -
ROE (net income / shareholders' equity) 14.3% 9.76% 12.3% 13.2% - - - -
ROA (Net income/ Total Assets) 11.8% 8.06% 10.3% 11% - - - -
Assets 1 2,168 2,870 3,012 1,667 - - - -
Book Value Per Share 22.10 24.30 25.70 23.40 - - - -
Cash Flow per Share - - - - - - - -
Capex 96.3 66.3 54.5 47.9 - - - -
Capex / Sales 7.75% 5.71% 4.25% 3.82% - - - -
Announcement Date 11/14/19 11/12/20 11/16/21 11/17/22 11/16/23 - - -
1USD in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Dolby Laboratories, Inc.

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
3
Last Close Price
82.57 USD
Average target price
98 USD
Spread / Average Target
+18.69%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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