Dolby Laboratories (DLB)
Market Price (8/31/2026): $61.5 | Market Cap: $5.8 BilSector: Information Technology | Industry: Application Software
Dolby Laboratories (DLB)
Market Price (8/31/2026): $61.5Market Cap: $5.8 BilSector: Information TechnologyIndustry: Application Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.2%, Dividend Yield is 2.3%, FCF Yield is 5.9% Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -11% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 32%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 25% Low stock price volatilityVol 12M is 29% Megatrend and thematic driversMegatrends include Digital Content & Streaming. Themes include Video Streaming, Music Streaming, and Gaming Content & Platforms. | Weak multi-year price returns2Y Excs Rtn is -47%, 3Y Excs Rtn is -96% | Weak revenue growthRev Chg QQuarterly Revenue Change % is -3.3% Key risksDLB key risks include [1] its heavy reliance on the adoption and sales success of its licensing partners, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.2%, Dividend Yield is 2.3%, FCF Yield is 5.9% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -11% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 32%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 25% |
| Low stock price volatilityVol 12M is 29% |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming. Themes include Video Streaming, Music Streaming, and Gaming Content & Platforms. |
| Weak multi-year price returns2Y Excs Rtn is -47%, 3Y Excs Rtn is -96% |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -3.3% |
| Key risksDLB key risks include [1] its heavy reliance on the adoption and sales success of its licensing partners, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Dolby Laboratories (DLB) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Mixed Fiscal Q3 2026 Performance with Licensing Weakness.
Dolby Laboratories reported mixed financial results for its fiscal Q3 2026, which ended on June 26, 2026, and were announced on July 30, 2026. While non-GAAP diluted earnings per share (EPS) of $0.69 surpassed analysts' consensus estimates of $0.67, the company's revenue declined by 3.3% year-over-year to $305 million, missing analyst expectations of $311.96 million. This revenue shortfall was primarily driven by sluggishness in foundational device markets, specifically experiencing double-digit declines in PC and Mobile licensing revenue, with Mobile licensing revenue falling 9.4% year-over-year to $51 million. This contradicted management's prior narrative regarding pull-through demand from Dolby Vision integration in mobile platforms.
2. Optimistic Fiscal Q4 2026 Guidance and Expanded Share Repurchase Program.
Despite the softer fiscal Q3 2026 results, management provided robust guidance for fiscal Q4 2026, projecting revenue at a midpoint of $377 million, which implies a significant year-over-year acceleration of approximately 23%. Non-GAAP diluted EPS for fiscal Q4 2026 is anticipated to range from $1.13 to $1.28. Further bolstering investor confidence, the Board authorized a substantial $350 million expansion to its stock repurchase program, bringing the total available for buybacks to $427 million. This aggressive capital return strategy, allowing the company to reacquire up to 7% of its shares, often signals management's belief that the stock is undervalued and aims to manufacture shareholder yield.
Show more
Dolby Laboratories (DLB) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Mixed Fiscal Q3 2026 Performance with Licensing Weakness.
Dolby Laboratories reported mixed financial results for its fiscal Q3 2026, which ended on June 26, 2026, and were announced on July 30, 2026. While non-GAAP diluted earnings per share (EPS) of $0.69 surpassed analysts' consensus estimates of $0.67, the company's revenue declined by 3.3% year-over-year to $305 million, missing analyst expectations of $311.96 million. This revenue shortfall was primarily driven by sluggishness in foundational device markets, specifically experiencing double-digit declines in PC and Mobile licensing revenue, with Mobile licensing revenue falling 9.4% year-over-year to $51 million. This contradicted management's prior narrative regarding pull-through demand from Dolby Vision integration in mobile platforms.
2. Optimistic Fiscal Q4 2026 Guidance and Expanded Share Repurchase Program.
Despite the softer fiscal Q3 2026 results, management provided robust guidance for fiscal Q4 2026, projecting revenue at a midpoint of $377 million, which implies a significant year-over-year acceleration of approximately 23%. Non-GAAP diluted EPS for fiscal Q4 2026 is anticipated to range from $1.13 to $1.28. Further bolstering investor confidence, the Board authorized a substantial $350 million expansion to its stock repurchase program, bringing the total available for buybacks to $427 million. This aggressive capital return strategy, allowing the company to reacquire up to 7% of its shares, often signals management's belief that the stock is undervalued and aims to manufacture shareholder yield.
3. Significant Insider Selling Activity.
Over the past 12 months, Dolby Laboratories has seen substantial insider selling activity, totaling $17.2 million worth of shares with no corresponding insider buying. While individual transactions by executives such as John Couling (totaling $460,020 on August 3, 2026), Ryan Nicholson ($84,000 on August 10, 2026), and Shriram Revankar ($188,130 on August 14, 2026) were below the $5 million threshold individually, the aggregate amount of insider selling across 26 transactions over the past year highlights a consistent trend of executives reducing their holdings. This absence of insider buying combined with numerous sell transactions serves as a cautionary signal, potentially suggesting a lack of strong near-term confidence from within the company.
4. Leadership Transition and Perceived Undervaluation.
On August 27, 2026, Dolby Laboratories announced a leadership transition, with Kevin Yeaman retiring as CEO and Marc Whitten appointed as the new President, Chief Executive Officer, and director. This change, following a long-term succession process, could introduce a period of adjustment or a fresh strategic direction. Simultaneously, financial analysis from GuruFocus indicated that DLB shares, trading at $62.41 on August 27, 2026, were undervalued by 24.5% compared to its GF Value™ estimate of $82.61. The company's current P/E ratio of 26.6x is also notably below its 5-year median of 33.2x, further supporting the undervaluation thesis. Analyst ratings vary, with a consensus ranging from "Hold" to "Buy" and average price targets suggesting potential upside, although some recent EPS forecasts were lowered.
Show less
Stock Movement Drivers
Fundamental Drivers
The -3.0% change in DLB stock from 4/30/2026 to 8/30/2026 was primarily driven by a -6.4% change in the company's Net Income Margin (%).| (LTM values as of) | 4302026 | 8302026 | Change |
|---|---|---|---|
| Stock Price ($) | 63.37 | 61.50 | -3.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,365 | 1,354 | -0.8% |
| Net Income Margin (%) | 17.9% | 16.7% | -6.4% |
| P/E Multiple | 24.8 | 25.6 | 3.5% |
| Shares Outstanding (Mil) | 95 | 94 | 1.0% |
| Cumulative Contribution | -3.0% |
Market Drivers
4/30/2026 to 8/30/2026| Return | Correlation | |
|---|---|---|
| DLB | -3.0% | |
| Market (SPY) | 7.1% | 15.6% |
| Sector (XLK) | 16.4% | 3.7% |
Fundamental Drivers
The -2.5% change in DLB stock from 1/31/2026 to 8/30/2026 was primarily driven by a -7.0% change in the company's Net Income Margin (%).| (LTM values as of) | 1312026 | 8302026 | Change |
|---|---|---|---|
| Stock Price ($) | 63.08 | 61.50 | -2.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,339 | 1,354 | 1.2% |
| Net Income Margin (%) | 18.0% | 16.7% | -7.0% |
| P/E Multiple | 25.0 | 25.6 | 2.4% |
| Shares Outstanding (Mil) | 95 | 94 | 1.3% |
| Cumulative Contribution | -2.5% |
Market Drivers
1/31/2026 to 8/30/2026| Return | Correlation | |
|---|---|---|
| DLB | -2.5% | |
| Market (SPY) | 11.5% | 24.1% |
| Sector (XLK) | 29.2% | 13.6% |
Fundamental Drivers
The -16.1% change in DLB stock from 7/31/2025 to 8/30/2026 was primarily driven by a -14.9% change in the company's Net Income Margin (%).| (LTM values as of) | 7312025 | 8302026 | Change |
|---|---|---|---|
| Stock Price ($) | 73.30 | 61.50 | -16.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,347 | 1,354 | 0.6% |
| Net Income Margin (%) | 19.6% | 16.7% | -14.9% |
| P/E Multiple | 26.6 | 25.6 | -3.7% |
| Shares Outstanding (Mil) | 96 | 94 | 1.8% |
| Cumulative Contribution | -16.1% |
Market Drivers
7/31/2025 to 8/30/2026| Return | Correlation | |
|---|---|---|
| DLB | -16.1% | |
| Market (SPY) | 22.7% | 31.1% |
| Sector (XLK) | 41.9% | 18.2% |
Fundamental Drivers
The -26.4% change in DLB stock from 7/31/2023 to 8/30/2026 was primarily driven by a -22.4% change in the company's P/E Multiple.| (LTM values as of) | 7312023 | 8302026 | Change |
|---|---|---|---|
| Stock Price ($) | 83.59 | 61.50 | -26.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,279 | 1,354 | 5.9% |
| Net Income Margin (%) | 19.0% | 16.7% | -11.9% |
| P/E Multiple | 33.0 | 25.6 | -22.4% |
| Shares Outstanding (Mil) | 96 | 94 | 1.7% |
| Cumulative Contribution | -26.4% |
Market Drivers
7/31/2023 to 8/30/2026| Return | Correlation | |
|---|---|---|
| DLB | -26.4% | |
| Market (SPY) | 74.0% | 40.7% |
| Sector (XLK) | 112.1% | 31.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| DLB Return | -1% | -25% | 24% | -8% | -16% | -1% | -30% |
| Peers Return | 9% | -27% | 13% | 16% | 13% | 13% | 33% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| DLB Win Rate | 58% | 42% | 67% | 42% | 33% | 50% | |
| Peers Win Rate | 47% | 28% | 58% | 50% | 52% | 62% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| DLB Max Drawdown | -19% | -33% | -16% | -22% | -25% | -29% | |
| Peers Max Drawdown | -29% | -44% | -37% | -30% | -36% | -28% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: XPER, IMAX, SONO, CRUS, ADI. See DLB Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/28/2026 (YTD)
How Low Can It Go
| Event | DLB | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -15.5% | -7.8% |
| % Gain to Breakeven | 18.4% | 8.5% |
| Time to Breakeven | 100 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -14.5% | -9.5% |
| % Gain to Breakeven | 16.9% | 10.5% |
| Time to Breakeven | 114 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -35.7% | -33.7% |
| % Gain to Breakeven | 55.5% | 50.9% |
| Time to Breakeven | 225 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -16.4% | -19.2% |
| % Gain to Breakeven | 19.6% | 23.8% |
| Time to Breakeven | 326 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -16.9% | -3.7% |
| % Gain to Breakeven | 20.3% | 3.9% |
| Time to Breakeven | 208 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -10.7% | -12.2% |
| % Gain to Breakeven | 12.0% | 13.9% |
| Time to Breakeven | 7 days | 62 days |
In The Past
Dolby Laboratories's stock fell -15.5% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 18.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | DLB | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -35.7% | -33.7% |
| % Gain to Breakeven | 55.5% | 50.9% |
| Time to Breakeven | 225 days | 140 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -33.6% | -6.8% |
| % Gain to Breakeven | 50.6% | 7.3% |
| Time to Breakeven | 98 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -41.4% | -17.9% |
| % Gain to Breakeven | 70.7% | 21.8% |
| Time to Breakeven | 221 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -51.8% | -53.4% |
| % Gain to Breakeven | 107.6% | 114.4% |
| Time to Breakeven | 442 days | 1085 days |
In The Past
Dolby Laboratories's stock fell -15.5% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 18.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Dolby Laboratories (DLB)
Dolby Laboratories, Inc. (DLB) is a technology company specializing in creating and licensing advanced audio and imaging technologies that significantly enhance entertainment and communication experiences. At its core, Dolby develops groundbreaking digital codecs and immersive sound and visual technologies that are widely adopted across various industries to deliver high-fidelity and captivating media content.
The company's main products and services include a suite of audio technologies such as AAC, HE-AAC, Dolby Digital, Dolby Digital Plus, and the immersive Dolby Atmos, which provides multi-dimensional sound. For imaging, Dolby offers video codecs like AVC and HEVC, alongside Dolby Vision, an advanced HDR imaging technology. Beyond licensing these critical technologies, Dolby also designs and manufactures specialized hardware, including digital cinema servers, cinema processors, amplifiers, and video conferencing solutions, and provides support services for theatrical and television productions.
Dolby's technologies and hardware are integral to a broad spectrum of markets, including cinemas, digital television (DTV), mobile devices, over-the-top (OTT) video and music services, and home entertainment systems. Its diverse customer base includes major film studios, content creators, post-production facilities, cinema operators, broadcasters, and video game designers, ensuring that high-quality audio and visual experiences reach consumers globally.
AI Analysis | Feedback
1. The ARM Holdings for audio and video technology.
2. The 'Intel Inside' for superior sound and picture quality.
AI Analysis | Feedback
Dolby Laboratories' major products and services include:
- AAC & HE-AAC: Digital audio codec solutions used for a range of media applications.
- AVC: A digital video codec with high bandwidth efficiency used in various media devices.
- Dolby AC-4: A digital audio coding technology that delivers new audio experiences to playback devices.
- Dolby Atmos: Immersive audio technology for cinema and a range of media devices.
- Dolby Digital: A digital audio coding technology that provides multichannel sound.
- Dolby Digital Plus: A digital audio coding technology that offers audio transmission for media applications.
- Dolby TrueHD: A digital audio coding technology providing encoding for media applications.
- Dolby Vision: An imaging technology that enhances visual experiences for cinema and media devices.
- Dolby Voice: An audio conferencing technology designed to improve communication.
- HEVC: A digital video codec with high bandwidth efficiency to support for media devices.
- Digital Cinema Servers: Hardware designed for managing and playing digital cinematic content.
- Cinema Processors: Devices that process audio signals for cinematic environments.
- Amplifiers: Electronic devices used to increase the power of audio signals.
- Loudspeakers: Devices that convert electrical audio signals into sound waves.
- Video Conferencing Solutions: Integrated hardware and software for remote visual and audio communication.
- Production Support Services: Services offered to support theatrical and television production for cinema exhibition, broadcast, and home entertainment.
AI Analysis | Feedback
Dolby Laboratories (DLB) primarily sells its audio and imaging technologies, hardware components, and services to other companies rather than directly to individuals.
Based on the provided company description, its major customer categories include:
- Film studios
- Content creators
- Post-production facilities
- Cinema operators
- Broadcasters
- Video game designers
The provided background information specifies categories of customers rather than individual customer company names or their public symbols.
AI Analysis | Feedback
AI Analysis | Feedback
Kevin J. Yeaman, President, Chief Executive Officer and Director
Kevin J. Yeaman has served as the President, Chief Executive Officer, and a Director of Dolby Laboratories since March 2009. Prior to his appointment as CEO, he was Dolby's Chief Financial Officer, a role he took on in October 2005. Before joining Dolby, Mr. Yeaman was the Chief Financial Officer of Epiphany, Inc., and held the position of Vice President of Worldwide Field Operations at Informix Software, Inc.
Robert Park, Senior Vice President and Chief Financial Officer
Robert Park is the Senior Vice President and Chief Financial Officer at Dolby Laboratories, leading the company's global finance organization. With over 25 years of experience, he has held financial and strategic business leadership roles at companies such as PayPal and Chegg Inc. Most recently, he was involved with BlueJeans Network, which was acquired by Verizon in 2020. Robert began his finance career with Ernst & Young LLP.
Andy Sherman, Executive Vice President, General Counsel and Corporate Secretary
Andy Sherman serves as Executive Vice President, General Counsel, and Corporate Secretary at Dolby Laboratories. Before joining Dolby, Mr. Sherman was the Senior Vice President and General Counsel at CBS Interactive. He also served as Senior Vice President, General Counsel, and Secretary at CNET Networks, a company that was later acquired by CBS.
Linda Rogers, Senior Vice President, Chief People & Places Officer
Linda Rogers is the Senior Vice President and Chief People & Places Officer at Dolby Laboratories, where she leads all aspects of the global People group. She previously managed her own consultancy firm, Work Reimagined, assisting Silicon Valley technology organizations in adapting to changes in the global workforce. Her background also includes serving as Chief Human Resources Officer at eSilicon Corporation and various senior strategy and human resources roles at Sun Microsystems.
John Couling, Senior Vice President, Entertainment
John Couling is the Senior Vice President of Entertainment at Dolby Laboratories. During his tenure, his teams have established partnerships with leading content aggregators, distributors, and consumer device makers to integrate Dolby technology into their products. Prior to this role, he managed a global team responsible for all technology platforms, products, and worldwide business development. Mr. Couling initially joined Dolby in 1997 as an applications engineer focusing on the emerging DVD market.
AI Analysis | Feedback
Key Risks to Dolby Laboratories (DLB)
-
Risk of Intellectual Property Obsolescence and Competition in a Rapidly Evolving Technology Landscape: Dolby Laboratories' business model is fundamentally built upon its proprietary audio and imaging technologies and the associated intellectual property, including patents. The rapid pace of innovation within the entertainment and communications industries presents a continuous risk that Dolby's existing technologies could become obsolete. Furthermore, the company faces intense competition from new, potentially superior, more cost-effective, or open-source alternative technologies. If key patents expire without being replaced by new, widely adopted innovations, or if content creators, device manufacturers, and service providers increasingly opt for competing solutions, Dolby's licensing revenue, which is a primary source of income, could significantly decline.
-
Dependence on Adoption within Dynamic Entertainment and Communications Ecosystems: Dolby's financial performance is heavily reliant on the widespread adoption and integration of its technologies across diverse industries, including film studios, content creators, post-production facilities, cinema operators, broadcasters, video game designers, and manufacturers of DTVs, mobile devices, and home entertainment systems. Shifts in industry standards, consolidation among key industry players, evolving consumer preferences (e.g., the continued shift towards streaming and new immersive experiences), or the failure of Dolby's technologies to be integrated into emerging platforms and devices could limit their market penetration and future revenue growth. The company must continuously innovate and secure widespread industry acceptance to maintain its market position.
AI Analysis | Feedback
AI Analysis | Feedback
The addressable markets for Dolby Laboratories' main products and services demonstrate significant global reach and growth:
- Dolby Atmos: The global Dolby Atmos Music market reached USD 1.32 billion in 2024 and is projected to grow to USD 12.52 billion by 2033. The global Dolby Atmos soundbar market was valued at USD 2.74 billion in 2025 and is projected to expand at a Compound Annual Growth Rate (CAGR) of 13.5% from 2025 to 2033. Another source indicates the global Dolby Atmos Soundbar Market size is valued at USD 2.69 billion in 2026, expected to reach USD 10.76 billion by 2035.
- Dolby Vision: The global market for Dolby Vision TVs is estimated at USD 5 billion in 2025 and is projected to reach approximately USD 15 billion by 2033. More broadly, the high dynamic range (HDR) market, which includes Dolby Vision, was valued at USD 41.79 billion globally in 2024 and is estimated to grow to USD 460.94 billion by 2034. Dolby Vision alone accounted for USD 15.1 billion of the HDR market in 2024.
- Digital Cinema (including digital cinema servers, cinema processors, amplifiers, loudspeakers): The global digital cinema market is predicted to reach USD 15.69 billion by 2035. The global digital cinema screen market size was USD 35.25 billion in 2024, with North America holding over 40% of the global revenue at USD 14.10 billion in 2024. The global movie theater market, which utilizes these technologies, was valued at USD 68.37 billion in 2025 and is projected to grow to USD 108.86 billion by 2034.
- Audio Technologies (such as AAC, HE-AAC, Dolby AC-4, Dolby Digital, Dolby Digital Plus, Dolby TrueHD): The global audio systems market was valued at USD 118 billion in 2025 and is projected to reach USD 185.18 billion by 2031. North America holds approximately 38% of this market. The global wireless audio device market is projected to grow from USD 75.84 billion in 2025 to USD 122.26 billion by 2034.
- Video Codecs (AVC, HEVC): The global video codec market size was estimated at USD 2.1 billion in 2023 and is projected to reach USD 4.5 billion by 2032. Another report states the global Video CODECs Market was valued at USD 2.21 billion in 2025 and is projected to grow to USD 3.43 billion by 2035. The next generation video codec market was valued at USD 5.21 billion in 2025 and is expected to reach USD 38.41 billion by 2035.
- Dolby Voice (audio conferencing technology): The global video conferencing market size was valued at USD 37.29 billion in 2025 and is projected to grow to USD 65.72 billion by 2034. North America dominated the global video conferencing market with a share of 30.40% in 2025. Other estimates for the global video conferencing market include USD 9.99 billion in 2025, projected to increase to USD 31.04 billion by 2035, and USD 13.8 billion in 2025, expected to reach USD 31.4 billion by 2034.
- Professional Audio Visual (Pro AV) (hardware components, video conferencing solutions, and services for various industries): The global Pro AV market was valued at USD 90 billion in 2024 and is expected to reach USD 127.31 billion by 2030. Another report indicates that Pro AV revenue will grow from USD 306.4 billion in 2023 to USD 325 billion in 2024, with a projection to reach USD 422 billion by 2029. North America's projected market size for Pro AV is USD 104 billion in 2024. The professional audio visual system market was valued at USD 295.18 billion in 2025 and is estimated to grow to USD 382.74 billion by 2031.
AI Analysis | Feedback
Dolby Laboratories (DLB) is anticipated to experience future revenue growth over the next 2-3 years driven by several key initiatives and market expansions:
- Accelerated Adoption and Licensing of Dolby Atmos, Dolby Vision, and Imaging Patents: Dolby expects to grow revenue from Dolby Atmos, Dolby Vision, and its broader imaging patent portfolio by 15% to 20% annually over the next few years. These premium immersive audio and imaging technologies are being increasingly integrated across various entertainment and communication platforms.
- Significant Expansion into the Automotive Industry: The company is experiencing rapid growth in the automotive sector, with Dolby Atmos being adopted by over 35 automotive Original Equipment Manufacturers (OEMs), a notable increase from 20 OEMs the previous year. This expansion is fueled by rising investments in in-car entertainment and growing consumer demand for immersive audio experiences during travel.
- Growth in Streaming and Broadcast Services and New Imaging Patent Programs: Dolby is actively broadening its reach within the streaming and broadcast sectors. This includes securing licensing agreements with content service providers such as Roku, Peacock, and Canal+. A key driver in this area is the new imaging patent program for content streamers, including Dolby OptiView, which aims to expand the addressable market. The company has a stated goal of 10% of its revenue coming from content service providers within three years. Additionally, Dolby Vision 2, a new generation of its HDR picture quality enhancement technology, is expected to enhance revenue opportunities from televisions.
- Expansion in Mobile Devices and New Consumption-Based Revenue Models: While some traditional markets like PC and certain consumer electronics segments are projected to decline, Dolby anticipates growth in other mobile markets, with mobile revenue growing over 20% year-over-year in the first quarter of fiscal year 2026. Furthermore, Dolby is shifting towards consumption-based revenue models, where earnings are tied to usage rather than just device sales. This strategy is exemplified by its new SaaS model, OptiView (under Dolby.io), which targets real-time interactive experiences such as sports and iGaming with ultra-low latency streaming.
AI Analysis | Feedback
Share Repurchases
- In fiscal year 2025, Dolby Laboratories repurchased approximately 479,000 shares of its common stock for approximately $35 million.
- As of the end of the fourth quarter of fiscal year 2025, Dolby had approximately $277 million of stock repurchase authorization available.
- During one quarter of fiscal year 2025, the company repurchased $15 million worth of common stock, with approximately $387 million remaining on its share repurchase plan authorization.
Share Issuance
- Proceeds from the issuance of common stock were $43.7 million in fiscal year 2025 and $40.2 million in fiscal year 2024.
- Dolby Laboratories' shares outstanding declined by 0.65% year-over-year for the quarter ending December 31, 2025.
- Shares outstanding saw a 0.16% increase in 2025 from 2024, following a 0.42% decline in 2024 from 2023.
Outbound Investments
- In 2024, Dolby Laboratories acquired over 5,000 GE Licensing patents, including key video compression technologies, which significantly bolstered its intellectual property portfolio.
Peer Outperformance in Application Software
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| DLB | Dolby Laboratories | 1.8% | 25.6x | -12.2% | -23.1% | -32.7% | — |
| MSTR | Strategy | 0.0% | -1.5x | -61.9% | 256.1% | 83.4% | +116pp |
| DBX | Dropbox | 1.5% | 18.1x | 22.8% | 28.5% | 12.6% | +45pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Electronic Manufacturing Services | 9 | 56.2% | 165.0% | 302.2% | TTMI 748% · FLEX 710% · JBL 395% |
| Semiconductor Materials & Equipment | 27 | 128.6% | 61.6% | 94.4% | AEHR 983% · AXTI 530% · KLAC 442% |
| Technology Distributors | 9 | 25.5% | 53.8% | 68.2% | CLMB 342% · AVT 148% · SNX 113% |
| Communications Equipment | 36 | 24.7% | 77.1% | 68.1% | AAOI 1349% · LITE 933% · ANET 746% |
| Electronic Components | 26 | 53.4% | 56.6% | 51.4% | CLS 3044% · BELFA 1257% · LPTH 393% |
| Semiconductors | 54 | 31.0% | 17.6% | 21.9% | POET 1741% · MU 1198% · NVDA 875% |
| Internet Services & Infrastructure | 6 | 15.6% | 38.9% | 14.1% | DOCN 80% · VRSN 37% · GDDY 33% |
| Technology Hardware, Storage & Peripherals | 21 | 26.8% | 72.5% | 7.8% | STX 1000% · DELL 923% · SMCI 915% |
| Electronic Equipment & Instruments | 27 | -7.5% | 5.2% | -8.5% | PI 192% · ACFN 120% · OSIS 109% |
| IT Consulting & Other Services | 28 | -23.6% | -10.8% | -20.6% | CHRN 493058% · APLD 1578% · TSSI 641% |
| Application Software ← | 122 | -18.6% | -13.6% | -41.5% | VIDA 269900% · INLX 5250% · PLTR 607% |
| Systems Software | 69 | -13.8% | 17.1% | -55.8% | QNC 540% · PAYS 418% · PANW 384% |
Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 55.94 |
| Mkt Cap | 4.1 |
| Rev LTM | 1,422 |
| Op Inc LTM | 213 |
| FCF LTM | 235 |
| FCF 3Y Avg | 238 |
| CFO LTM | 292 |
| CFO 3Y Avg | 282 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.9% |
| Rev Chg 3Y Avg | 2.9% |
| Rev Chg Q | 10.5% |
| QoQ Delta Rev Chg LTM | 2.4% |
| Op Inc Chg LTM | 64.1% |
| Op Inc Chg 3Y Avg | 17.2% |
| Op Mgn LTM | 21.1% |
| Op Mgn 3Y Avg | 18.8% |
| QoQ Delta Op Mgn LTM | 1.6% |
| CFO/Rev LTM | 30.6% |
| CFO/Rev 3Y Avg | 25.4% |
| FCF/Rev LTM | 24.7% |
| FCF/Rev 3Y Avg | 19.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 4.1 |
| P/S | 3.5 |
| P/Op Inc | 16.9 |
| P/EBIT | 23.8 |
| P/E | 28.8 |
| P/CFO | 17.0 |
| Total Yield | 3.3% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 4.2% |
| D/E | 0.0 |
| Net D/E | -0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 1.4% |
| 3M Rtn | -7.7% |
| 6M Rtn | -1.4% |
| 12M Rtn | 5.0% |
| 3Y Rtn | 21.6% |
| 1M Excs Rtn | -1.4% |
| 3M Excs Rtn | -9.4% |
| 6M Excs Rtn | -13.5% |
| 12M Excs Rtn | -14.8% |
| 3Y Excs Rtn | -50.5% |
Comparison Analyses
Price Behavior
| Market Price | $61.50 | |
| Market Cap ($ Bil) | 5.8 | |
| First Trading Date | 02/17/2005 | |
| Distance from 52W High | -14.1% | |
| 50 Days | 200 Days | |
| DMA Price | $55.48 | $59.81 |
| DMA Trend | down | up |
| Distance from DMA | 10.9% | 2.8% |
| 3M | 1YR | |
| Volatility | 37.4% | 29.2% |
| Downside Capture | 44.12 | 74.85 |
| Upside Capture | 89.15 | 43.46 |
| Correlation (SPY) | 18.1% | 26.9% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.56 | 0.45 | 0.42 | 0.59 | 0.72 | 0.73 |
| Up Beta | -1.61 | -0.71 | -0.08 | 0.52 | 0.79 | 0.61 |
| Down Beta | 0.18 | 0.64 | 0.42 | 0.81 | 0.82 | 0.77 |
| Up Capture | 219% | 89% | 27% | 37% | 34% | 32% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 12 | 21 | 30 | 64 | 122 | 364 |
| Down Capture | 39% | 52% | 80% | 70% | 91% | 98% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 10 | 22 | 33 | 62 | 129 | 387 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DLB | |
|---|---|---|---|---|
| DLB | -13.6% | 29.0% | -0.50 | - |
| Sector ETF (XLK) | 41.2% | 26.3% | 1.28 | 15.4% |
| Equity (SPY) | 20.1% | 12.8% | 1.16 | 27.0% |
| Gold (GLD) | 30.9% | 29.0% | 0.92 | 3.7% |
| Commodities (DBC) | 39.9% | 20.3% | 1.54 | -8.1% |
| Real Estate (VNQ) | 9.9% | 13.7% | 0.44 | 20.3% |
| Bitcoin (BTCUSD) | -30.1% | 43.7% | -0.70 | 3.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DLB | |
|---|---|---|---|---|
| DLB | -7.5% | 26.0% | -0.31 | - |
| Sector ETF (XLK) | 19.9% | 25.9% | 0.68 | 44.0% |
| Equity (SPY) | 13.1% | 17.2% | 0.59 | 50.5% |
| Gold (GLD) | 19.7% | 18.7% | 0.85 | 5.5% |
| Commodities (DBC) | 11.5% | 19.6% | 0.46 | 6.1% |
| Real Estate (VNQ) | 2.0% | 18.9% | 0.00 | 41.6% |
| Bitcoin (BTCUSD) | 9.6% | 52.7% | 0.37 | 17.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DLB | |
|---|---|---|---|---|
| DLB | 3.5% | 27.1% | 0.16 | - |
| Sector ETF (XLK) | 24.3% | 25.0% | 0.88 | 54.4% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 60.4% |
| Gold (GLD) | 12.2% | 16.3% | 0.61 | 5.9% |
| Commodities (DBC) | 7.3% | 18.0% | 0.33 | 16.9% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.20 | 48.2% |
| Bitcoin (BTCUSD) | 63.4% | 66.1% | 1.03 | 14.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/31/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | 13.6% | 17.7% | 19.5% |
| 4/30/2026 | -10.4% | -10.4% | -12.0% |
| 1/29/2026 | 1.8% | 1.5% | 3.9% |
| 11/18/2025 | 0.1% | 3.7% | 2.5% |
| 7/31/2025 | -7.0% | -4.5% | -4.4% |
| 5/1/2025 | -1.7% | -1.6% | -2.5% |
| 1/29/2025 | 8.3% | 4.7% | 1.6% |
| 11/19/2024 | 15.6% | 13.3% | 9.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 13 | 13 |
| # Negative | 13 | 12 | 12 |
| Median Positive | 4.0% | 3.7% | 3.7% |
| Median Negative | -6.3% | -4.4% | -2.7% |
| Max Positive | 15.6% | 17.7% | 19.5% |
| Max Negative | -11.1% | -12.5% | -16.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | 13.6% | 17.7% | 19.5% |
| 4/30/2026 | -10.4% | -10.4% | -12.0% |
| 1/29/2026 | 1.8% | 1.5% | 3.9% |
| 11/18/2025 | 0.1% | 3.7% | 2.5% |
| 7/31/2025 | -7.0% | -4.5% | -4.4% |
| 5/1/2025 | -1.7% | -1.6% | -2.5% |
| 1/29/2025 | 8.3% | 4.7% | 1.6% |
| 11/19/2024 | 15.6% | 13.3% | 9.7% |
| 8/7/2024 | -7.2% | -4.2% | -6.1% |
| 5/2/2024 | 3.0% | 3.9% | 1.7% |
| 2/1/2024 | -5.4% | -4.9% | -2.3% |
| 11/16/2023 | -7.1% | -1.5% | -1.8% |
| 8/3/2023 | -9.8% | -12.5% | -2.9% |
| 5/4/2023 | 3.5% | 2.9% | 1.4% |
| 2/2/2023 | 4.5% | 1.5% | -0.1% |
| 11/17/2022 | -1.0% | 3.3% | -1.3% |
| 8/9/2022 | 4.8% | 5.7% | -1.8% |
| 5/5/2022 | -5.2% | -2.7% | 3.6% |
| 2/3/2022 | -11.1% | -8.9% | -16.5% |
| 11/16/2021 | -1.5% | -2.8% | 3.7% |
| 7/29/2021 | 1.4% | 2.2% | 4.7% |
| 5/4/2021 | -6.3% | -8.6% | -7.6% |
| 1/28/2021 | -1.3% | 3.0% | 13.1% |
| 11/12/2020 | 6.7% | 7.5% | 11.4% |
| 8/3/2020 | 1.4% | -0.0% | 0.4% |
| SUMMARY STATS | |||
| # Positive | 12 | 13 | 13 |
| # Negative | 13 | 12 | 12 |
| Median Positive | 4.0% | 3.7% | 3.7% |
| Median Negative | -6.3% | -4.4% | -2.7% |
| Max Positive | 15.6% | 17.7% | 19.5% |
| Max Negative | -11.1% | -12.5% | -16.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/30/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 01/29/2026 | 10-Q |
| 09/30/2025 | 11/18/2025 | 10-K |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 01/30/2025 | 10-Q |
| 09/30/2024 | 11/19/2024 | 10-K |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/02/2024 | 10-Q |
| 09/30/2023 | 11/17/2023 | 10-K |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/02/2023 | 10-Q |
| 09/30/2022 | 11/18/2022 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/30/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 01/29/2026 | 10-Q |
| 09/30/2025 | 11/18/2025 | 10-K |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 01/30/2025 | 10-Q |
| 09/30/2024 | 11/19/2024 | 10-K |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/02/2024 | 10-Q |
| 09/30/2023 | 11/17/2023 | 10-K |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/02/2023 | 10-Q |
| 09/30/2022 | 11/18/2022 | 10-K |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 02/04/2022 | 10-Q |
| 09/30/2021 | 11/17/2021 | 10-K |
| 06/30/2021 | 07/29/2021 | 10-Q |
| 03/31/2021 | 05/04/2021 | 10-Q |
| 12/31/2020 | 01/29/2021 | 10-Q |
| 09/30/2020 | 11/16/2020 | 10-K |
| 06/30/2020 | 08/03/2020 | 10-Q |
| 03/31/2020 | 05/04/2020 | 10-Q |
| 12/31/2019 | 01/29/2020 | 10-Q |
| 09/30/2019 | 11/25/2019 | 10-K |
Recent Forward Guidance
Updated 7/31/2026Latest: Q3 2026 Earnings Reported 7/30/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 Total Revenue | 362.00 Mil | 377.00 Mil | 392.00 Mil | 21.6% | Higher New | Guidance: 310.00 Mil for Q3 2026 | |
| Q4 2026 Licensing Revenue | 335.00 Mil | 350.00 Mil | 365.00 Mil | 22.8% | Higher New | Guidance: 285.00 Mil for Q3 2026 | |
| 2026 Total Revenue | 1.41 Bil | 1.43 Bil | 1.44 Bil | 0 | Affirmed | Guidance: 1.43 Bil for 2026 | |
| 2026 Licensing Revenue | 1.31 Bil | 1.32 Bil | 1.34 Bil | 0.4% | Raised | Guidance: 1.32 Bil for 2026 | |
| 2026 Operating Margin | 21.0% | ||||||
Prior: Q2 2026 Earnings Reported 4/30/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Total Revenue | 295.00 Mil | 310.00 Mil | 325.00 Mil | -20.5% | Lower New | Guidance: 390.00 Mil for Q2 2026 | |
| Q3 2026 Licensing Revenue | 270.00 Mil | 285.00 Mil | 300.00 Mil | -21.9% | Lower New | Guidance: 365.00 Mil for Q2 2026 | |
| Q3 2026 GAAP Diluted EPS | 0.19 | 0.27 | 0.34 | -73.9% | Lower New | Guidance: 1.01 for Q2 2026 | |
| Q3 2026 Non-GAAP Diluted EPS | 0.56 | 0.64 | 0.71 | ||||
| 2026 Total Revenue | 1.40 Bil | 1.43 Bil | 1.45 Bil | 0 | Affirmed | Guidance: 1.43 Bil for 2026 | |
| 2026 Licensing Revenue | 1.29 Bil | 1.32 Bil | 1.34 Bil | 0 | Affirmed | Guidance: 1.32 Bil for 2026 | |
| 2026 GAAP Diluted EPS | 2.66 | 2.73 | 2.81 | -1.8% | Lowered | Guidance: 2.79 for 2026 | |
| 2026 Non-GAAP Diluted EPS | 4.3 | 4.38 | 4.45 | ||||
Q1 2026 Earnings Reported 1/29/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Total Revenue | 375.00 Mil | 390.00 Mil | 405.00 Mil | 18.2% | Higher New | Guidance: 330.00 Mil for Q1 2026 | |
| Q2 2026 Licensing Revenue | 350.00 Mil | 365.00 Mil | 380.00 Mil | 19.7% | Higher New | Guidance: 305.00 Mil for Q1 2026 | |
| Q2 2026 Diluted EPS | 0.94 | 1.01 | 1.09 | ||||
| 2026 Total Revenue | 1.40 Bil | 1.43 Bil | 1.45 Bil | 0.7% | Raised | Guidance: 1.42 Bil for 2026 | |
| 2026 Licensing Revenue | 1.29 Bil | 1.32 Bil | 1.34 Bil | 0.8% | Raised | Guidance: 1.31 Bil for 2026 | |
| 2026 Diluted EPS | 2.71 | 2.79 | 2.86 | ||||
Q4 2025 Earnings Reported 11/18/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Total Revenue | 315.00 Mil | 330.00 Mil | 345.00 Mil | 8.9% | Higher New | Actual: 303.00 Mil for Q4 2025 | |
| Q1 2026 Licensing Revenue | 290.00 Mil | 305.00 Mil | 320.00 Mil | 9.7% | Higher New | Actual: 278.00 Mil for Q4 2025 | |
| 2026 Total Revenue | 1.39 Bil | 1.42 Bil | 1.44 Bil | 5.2% | Higher New | Actual: 1.34 Bil for 2025 | |
| 2026 Licensing Revenue | 1.28 Bil | 1.31 Bil | 1.33 Bil | 5.2% | Higher New | Actual: 1.25 Bil for 2025 | |
| 2026 Operating Margin | 21.0% | ||||||
Insider Activity
Updated 8/28/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Nicholson, Ryan | VP, CAO and Corp. Controller | Direct | Sell | 8272026 | 65.28 | 1,183 | 77,223 | 2,248,999 | Form |
| 2 | Revankar, Shriram | SVP, Advanced Technology Group | Direct | Sell | 8182026 | 62.71 | 3,000 | 188,130 | 4,595,013 | Form |
| 3 | Nicholson, Ryan | VP, CAO and Corp. Controller | Direct | Sell | 8122026 | 62.04 | 1,348 | 83,630 | 2,210,857 | Form |
| 4 | Couling, John D | SVP, Entertainment | Direct | Sell | 8052026 | 60.00 | 7,667 | 460,004 | 7,123,370 | Form |
| 5 | Couling, John D | SVP, Entertainment | Direct | Sell | 7062026 | 53.20 | 7,667 | 407,894 | 6,316,431 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Nicholson, Ryan | VP, CAO and Corp. Controller | Direct | Sell | 8272026 | 65.28 | 1,183 | 77,223 | 2,248,999 | Form |
| 2 | Revankar, Shriram | SVP, Advanced Technology Group | Direct | Sell | 8182026 | 62.71 | 3,000 | 188,130 | 4,595,013 | Form |
| 3 | Nicholson, Ryan | VP, CAO and Corp. Controller | Direct | Sell | 8122026 | 62.04 | 1,348 | 83,630 | 2,210,857 | Form |
| 4 | Couling, John D | SVP, Entertainment | Direct | Sell | 8052026 | 60.00 | 7,667 | 460,004 | 7,123,370 | Form |
| 5 | Couling, John D | SVP, Entertainment | Direct | Sell | 7062026 | 53.20 | 7,667 | 407,894 | 6,316,431 | Form |
| 6 | Couling, John D | SVP, Entertainment | Direct | Sell | 6032026 | 55.62 | 7,666 | 426,420 | 6,604,164 | Form |
| 7 | Pendleton, Todd | SVP, Chief Marketing Officer | Direct | Sell | 5272026 | 54.55 | 11,876 | 647,857 | 2,262,809 | Form |
| 8 | Revankar, Shriram | SVP, Advanced Technology Group | Direct | Sell | 5192026 | 54.90 | 3,000 | 164,700 | 4,425,105 | Form |
| 9 | Park, Robert J | SVP & Chief Financial Officer | Direct | Sell | 5142026 | 56.68 | 4,895 | 277,425 | 4,618,453 | Form |
| 10 | Couling, John D | SVP, Entertainment | Direct | Sell | 5062026 | 57.55 | 7,666 | 441,209 | 6,811,693 | Form |
| 11 | Couling, John D | SVP, Entertainment | Direct | Sell | 5062026 | 58.47 | 4,688 | 274,084 | 6,919,508 | Form |
| 12 | Rollins, Emily | Direct | Sell | 4032026 | 60.08 | 1,000 | 60,080 | 753,463 | Form | |
| 13 | Revankar, Shriram | SVP, Advanced Technology Group | Direct | Sell | 2172026 | 66.14 | 3,000 | 198,420 | 5,504,039 | Form |
| 14 | Nicholson, Ryan | VP, CAO and Corp. Controller | Direct | Sell | 2172026 | 66.38 | 2,667 | 177,023 | 2,452,962 | Form |
| 15 | Couling, John D | SVP, Entertainment | Direct | Sell | 2042026 | 64.89 | 6,667 | 432,588 | 7,983,515 | Form |
| 16 | Yeaman, Kevin J | President and CEO | a trust | Sell | 12172025 | 67.24 | 6,751 | 453,929 | 6,614,743 | Form |
| 17 | Sherman, Mark Andrew | EVP, Gen. Counsel & Secretary | Direct | Sell | 12172025 | 67.26 | 2,491 | 167,554 | 4,746,328 | Form |
| 18 | Yeaman, Kevin J | President and CEO | a trust | Sell | 12172025 | 66.74 | 26,766 | 1,786,310 | 7,016,034 | Form |
| 19 | Sherman, Mark Andrew | EVP, Gen. Counsel & Secretary | Direct | Sell | 12172025 | 66.73 | 9,109 | 607,849 | 4,874,937 | Form |
| 20 | Couling, John D | SVP, Entertainment | Direct | Sell | 12152025 | 68.75 | 7,273 | 500,019 | 7,429,469 | Form |
| 21 | Yeaman, Kevin J | President and CEO | a trust | Sell | 12112025 | 67.08 | 34,367 | 2,305,493 | 6,599,571 | Form |
| 22 | Sherman, Mark Andrew | EVP, Gen. Counsel & Secretary | Direct | Sell | 12032025 | 67.56 | 4,500 | 304,036 | 4,215,760 | Form |
| 23 | Prophet, Tony A | Direct | Sell | 11262025 | 67.85 | 3,300 | 223,905 | 617,910 | Form | |
| 24 | Yeaman, Kevin J | President and CEO | a trust | Sell | 11262025 | 66.91 | 36,699 | 2,455,405 | 7,675,860 | Form |
| 25 | Revankar, Shriram | SVP, Advanced Technology Group | Direct | Sell | 11242025 | 65.55 | 3,000 | 196,650 | 4,420,364 | Form |
| 26 | Couling, John D | SVP, Entertainment | Direct | Sell | 11242025 | 66.12 | 6,164 | 407,564 | 7,626,149 | Form |
| 27 | Yeaman, Kevin J | President and CEO | a trust | Sell | 10162025 | 68.87 | 25,000 | 1,721,842 | 7,901,532 | Form |
| 28 | Yeaman, Kevin J | President and CEO | a trust | Sell | 9182025 | 71.66 | 25,000 | 1,791,490 | 8,221,148 | Form |
| 29 | Revankar, Shriram | SVP, Advanced Technology Group | Direct | Sell | 8262025 | 74.92 | 7,000 | 524,440 | 5,276,990 | Form |
| 30 | Yeaman, Kevin J | President and CEO | a trust | Sell | 8142025 | 72.31 | 25,000 | 1,807,828 | 8,296,120 | Form |
Investor Activity (13F)
Updated Aug 31, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Dolby Laboratories — Investor Video Playlist
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Application Software Resources |
| Capterra |
| Software Advice |
| InfoWorld |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.