DLB Dolby Laboratories Common Stock

NYSE · Technology · View on SEC EDGAR ↗
$61.59
Price · Aug 18, 2026
Fundamentals as of Jul 30, 2026

About Dolby Laboratories Common Stock Company overview from Wikipedia

Dolby Laboratories, Inc. is an American technology corporation specializing in audio noise reduction, audio encoding/compression, spatial audio, and high-dynamic-range television (HDR) imaging. Dolby licenses its technologies to consumer electronics manufacturers. Dolby is best known for their audio encoding format, Dolby Digital, which popularized the use of surround sound in media.

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Dolby Laboratories, Inc. (Dolby Labs or simply Dolby) is an American technology corporation specializing in audio noise reduction, audio encoding/compression, spatial audio, and high-dynamic-range television (HDR) imaging. Dolby licenses its technologies to consumer electronics manufacturers. Dolby is best known for their audio encoding format, Dolby Digital, which popularized the use of surround sound in media.

History

Dolby Labs was founded by Ray Dolby (1933–2013) in London, England, in 1965. In the same year, he invented the Dolby Noise Reduction system, a form of audio signal processing for reducing the background hissing sound on cassette tape recordings. His first U.S. patent on the technology was filed in 1969, four years later. The method was first used by Decca Records in the UK. After this, other companies began purchasing Dolby's A301 technology, which was the professional noise reduction system used in recording, motion picture, broadcasting stations and communications networks. These companies include BBC, Pye, IBC, CBS Studios, RCA, and Granada.

He moved the company headquarters to the United States (San Francisco, California) in 1976. The first product Dolby Labs produced was the Dolby 301 unit which incorporated Type A Dolby Noise Reduction, a compander-based noise reduction system. These units were intended for use in professional recording studios.

Dolby was persuaded by Henry Kloss of KLH to manufacture a consumer version of his noise reduction. Dolby continued to work on companding systems and introduced Type B in 1968.

Dolby also sought to improve film sound. As the corporation's history explains:

Upon investigation, Dolby found that many of the limitations in optical sound stemmed directly from its significantly high background noise. To filter this noise, the high-frequency response of theatre playback systems was deliberately curtailed… To make matters worse, to increase dialogue intelligibility over such systems, sound mixers were recording soundtracks with so much high-frequency pre-emphasis that high distortion resulted.

The first film with Dolby sound was A Clockwork Orange (1971). The company was approached by Stanley Kubrick, who wanted to use Dolby's noise reduction system to facilitate the film's extensive mixing. The film went on to use Dolby noise reduction on all pre-mixes and masters, but a conventional optical soundtrack on release prints. Callan (1974) was the first film with a Dolby-encoded optical soundtrack. In 1975, Dolby released Dolby Stereo, which included a noise reduction system in addition to more audio channels (Dolby Stereo could actually contain additional center and surround channels matrixed from the left and right). The first film with a Dolby-encoded stereo optical soundtrack was Lisztomania (1975), although this only used an LCR (Left-Center-Right) encoding technique. The first true LCRS (Left-Center-Right-Surround) soundtrack was encoded on the movie A Star Is Born in 1976. In less than ten years, 6,000 cinemas worldwide were equipped to use Dolby Stereo sound. Dolby reworked the system slightly for home use and introduced Dolby Surround, which only extracted a surround channel, and the more impressive Dolby Pro Logic, which was the domestic equivalent of the theatrical Dolby Stereo. In 2005, Dolby's stereo 4-channel optical theater surround was inducted into the TECnology Hall of Fame, an honor given to "products and innovations that have had an enduring impact on the development of audio technology."

Dolby developed a digital surround sound compression scheme for the cinema. Dolby Stereo Digital (now called Dolby Digital) was first featured on the 1992 film Batman Returns. Introduced to the home theater market as Dolby AC-3 with the 1995 LaserDisc release of Clear and Present Danger, the format did not become widespread in the consumer market, partly because extra hardware was needed to make use of it, until it was adopted as part of the DVD specification. Dolby Digital is now found in the HDTV (ATSC) standard of the United States, DVD players, and many satellite-TV and cable-TV receivers. Dolby developed a digital surround sound compression scheme for the TV series The Simpsons.

On February 17, 2005, the company became public, offering its shares on the New York Stock Exchange, under the symbol DLB. On March 15, 2005, Dolby celebrated its 40th anniversary at the ShoWest 2005 Festival in San Francisco.

On January 8, 2007, Dolby announced the arrival of Dolby Volume at the International Consumer Electronics Show.

On June 18, 2010, Dolby introduced Dolby Surround 7.1, which added two rear surround channels to the 5.1 format. The first film to be released in this format was Pixar's Toy Story 3.

In April 2012, Dolby introduced Dolby Atmos, a new cinema technology adding overhead sound, first applied in Pixar's motion picture Brave. In the same year, Dolby bought the naming rights of Hollywood's Dolby Theatre, the venue of the annual Academy Awards ceremony. In July 2014, Dolby Laboratories announced plans to bring Atmos to home theater. The first television show to use the technology on disc was Game of Thrones.

On February 24, 2014, Dolby acquired Doremi Labs for $92.5 million in cash plus an additional $20 million in contingent consideration that may be earned over a four-year period.

In May 2015, Dolby reopened the Vine Theatre, Hollywood as a 70-seat showcase theater, known as Dolby @ Vine or Dolby Screening Room Hollywood Vine.

In May 2019, Dolby added Dolby Atmos to hundreds of newer songs in the music industry.

In May 2020, Dolby launched a developer platform, Dolby.io, aimed at providing developers self-service access to Dolby technologies through public APIs. It allows any person, organization, small and big, to integrate in their websites, apps, games, etc. features such as media enhancements and transcoding, spatial audio, high-quality video communication and low-latency streaming.

In May 2025, BBC Radio 4 broadcast Surrounded by Sound: Ray Dolby and the Art of Noise Reduction to mark Dolby Laboratories' 60th anniversary. This included interviews with his widow Dagmar and two of the first Dolby sound engineers, David Robinson and Ioan Allen (who still worked at the company), and Crimson Tide and Armageddon sound designer Midge Costin. A version of the programme was made in binaural sound.

Technologies

Analog audio noise reduction

Dolby A: professional noise reduction systems for analog reel-to-reel tape and cassettes.

Dolby NR/B/C/S: consumer noise reduction systems for tapes and analog cassettes.

Dolby SR (Spectral Recording): professional four-channel noise reduction system in use since 1986, which improves the dynamic range of analog recordings and transmissions by as much as 25 dB. Dolby SR is utilized by recording and post-production engineers, broadcasters, and other audio professionals. It is also the benchmark in analog film sound, being included today on nearly all 35 mm film prints. On films with digital soundtracks, the SR track is used in cinemas not equipped for digital playback, and it serves as a backup in case of problems with the digital track.

Dolby FM: noise reduction system for FM broadcast radio. Dolby FM was tried by a few radio stations starting with WFMT in 1971. It used Dolby B, combined with 25 microsecond pre-emphasis. A small number of models of tuners and receivers were offered with the necessary decoder built in. In addition, a few cassette deck models appeared that allowed the deck's internal Dolby B decoder to be put in the line level pass-through path, permitting its use with Dolby FM broadcasts. The system was not successful and was on the decline by 1974.

Dolby HX Pro: single-ended system used on high-end tape recorders to increase headroom. The recording bias is lowered as the high-frequency component of the signal being recorded increases, and vice versa. It does nothing to the actual audio that is being recorded, and it does not require a special decoder. Any HX Pro recorded tape will have, in theory, better sound on any deck.

Dolby Advanced Audio: Dolby surround sound, locking preferred volume level, optimizes audio performance for specific PC models and lets turning up the volume to the built-in speakers without distorting the sound.

Audio encoding/compression

Dolby Surround

Dolby Digital (also known as AC-3) is a lossy audio compression format. It supports channel configurations from mono up to six discrete channels (referred to as "5.1"). This format first allowed and popularized surround sound. It was first developed for movie theater sound and spread to LaserDisc and DVD. It has been adopted in many broadcast formats including all North American digital television (ATSC), DVB-T, direct broadcast satellite, cable television, DTMB, IPTV, and surround sound radio services. It is also part of both the Blu-ray and the now-defunct HD DVD standards. Dolby Digital is used to enable surround sound output by most video game consoles. Several personal computers support converting all audio to Dolby Digital for output.

Dolby Digital EX: introduces a matrix-encoded center rear surround channel to Dolby Digital for 6.1 channel output. This center-rear channel is often split to two rear back speakers for 7.1 channel output.

Dolby Digital Plus (also known as E-AC-3) is a lossy audio codec based on Dolby Digital that is backward compatible, but more advanced. The DVD Forum has selected Dolby Digital Plus as a standard audio format for HD DVD video. It supports data rates up to 6 Mbit/s, an increase from Dolby Digital's 640 kbit/s maximum. On Blu-ray, Dolby Digital Plus is implemented differently, as a legacy 640 kbit/s Dolby Digital stream plus an additional stream to expand the surround sound, with a total bandwidth of approximately 1.7 Mbit/s. Dolby Digital Plus is also optimized for limited data-rate environments such as Digital broadcasting.

Dolby Digital Live is a real-time hardware encoding technology for interactive media such as video games. It converts any audio signals on a PC or game console into the 5.1-channel Dolby Digital format and transports it via a single S/PDIF cable. A similar technology known as DTS Connect is available from competitor DTS.

Dolby E: professional coding system optimized for the distribution of surround and multichannel audio through digital two-channel post-production and broadcasting infrastructures, or for recording surround audio on two audio tracks of conventional digital video tapes, video servers, communication links, switchers, and routers. The Dolby E signal does not reach viewers at home. It is transcoded to Dolby Digital at a lower data rate for final DTV transmission.

Dolby Stereo (also known as Stereo A): original analog optical technology developed for 35 mm prints and is encoded with four sound channels: Left/Center/Right (which are located behind the screen) and Surround (which is heard over speakers on the sides and rear of the theatre) for ambient sound and special effects. This technology also employs A-type or SR-type noise reduction, listed above with regards to analog cassette tapes. See also Dolby Surround

Dolby TrueHD: Offers bit-for-bit sound reproduction identical to the studio master. Over seven full-range 24-bit/96 kHz discrete channels are supported (plus an LFE channel, making it 7.1 surround) along with the HDMI interface. Theoretically, Dolby TrueHD can support more channels, but this number has been limited to 8 for HD DVD and Blu-ray Disc.

Dolby Pulse: released in 2009, it is identical to the HE-AAC v2 codec except for the addition of Dolby metadata, which is common for Dolby's other digital audio codecs. This metadata "ensures consistency of broadcast quality."

Dolby AC-4 is a lossy audio compression format that can contain audio channels and/or audio objects.

Dolby Atmos is a suite of technologies for immersive audio having both horizontal and vertical sound placement, using a combination of channel and object-based mixing and delivery. It was first introduced in cinemas with Brave. The first game released with Dolby Atmos audio was Star Wars Battlefront. The means of delivering the channels and objects differ given the technical limitations across different media, and the target platform. Dolby Atmos is not a codec; on the consumer market, pre-recorded Dolby Atmos is delivered as an extension to a Dolby TrueHD, Dolby Digital Plus, or Dolby AC-4 stream.

Audio processing

Dolby Headphone: an implementation of virtual surround, simulating 5.1 surround sound in a standard pair of stereo headphones.

Dolby Virtual Speaker: simulates 5.1 surround sound in a setup of two standard stereo speakers.

Dolby Surround, Dolby Pro Logic, Dolby Pro Logic II, Dolby Pro Logic IIx, and Dolby Pro Logic IIz: these decoders expand sound to a greater number of channels. All can decode surround sound that has been matrixed into two channels; some can expand surround sound to a greater number of speakers than the original source material. See the referenced articles for more details on each decoder.

Audistry: sound enhancement technologies.

Dolby Volume: reduces volume level changes.

Dolby Mobile: A version of Dolby's surround sound technology specifically designed for mobile phones, notably the HTC Desire HD, LG Arena and LG Renoir.

Dolby Audio Plug-in for Android: An API packaged as a Java Library that allows Android Developers to take advantage of Dolby Digital Plus Technology embedded into mobile and tablet devices, notably the Fire HD, Fire HDX, and Samsung Galaxy Tab 3 series.

Dolby Voice: Hardware and software products for enterprise-level web conferencing.

Video processing

Dolby Contrast provides enhanced image contrast to LCD screens with LED backlight units by means of local dimming.

Perceptual Quantizer (PQ), published by SMPTE as SMPTE ST 2084, is a transfer function that allows for the display of high dynamic range (HDR) video with a luminance level of up to 10,000 cd/m2 and can be used with the Rec. 2020 color space. On August 27, 2015, the Consumer Electronics Association announced the HDR10 Media Profile which uses the Rec. 2020 color space, SMPTE ST 2084, and a bit depth of 10-bits. On August 2, 2016, Microsoft released the Windows 10 Anniversary Update, which supports the HDR10 format with PQ (ST 2084) transfer function and Rec.2020 color space.

Dolby Vision is a content mastering and delivery format similar to the HDR10 media profile. It supports both high dynamic range (HDR) and wide color gamut (ITU-R Rec. 2020 and 2100) at all stages from content creation and production to transmission and playback. Dolby Vision includes the Perceptual Quantizier (SMPTE ST-2084) electro-optical transfer function and supports displays with up to 10,000-nit maximum brightness (4,000-nit in practice). It also provides up to 8K resolution and color depth of up to 12-bits (backwards compatible with current 8-bit and 10-bit displays). Dolby Vision can encode mastering display colorimetry information using static metadata (SMPTE ST 2086) and dynamic metadata (SMPTE ST 2094–10, Dolby format) for each scene or frame of a video. Examples of Ultra HD (UHD) Dolby Vision are available in TV, monitor, mobile devices and theater. Dolby Vision content can be delivered on Ultra HD Blu-ray discs, over conventional broadcasting, OTT, and online streaming media services. Dolby Vision metadata can be carried via HDMI interface versions 1.4b and above. It also supports IPTPQc2 color space, that is similar to ICtCp. Dolby Vision IQ is an update designed to optimize Dolby Vision content according to the brightness of the room.

ICtCp provides an improved color representation that is designed for high dynamic range (HDR) and wide color gamut (WCG). An improved constant luminance is an advantage for color processing operations such as chroma subsampling and gamut mapping where only color information is changed. ICtCp is based on a modification of IPT called ICaCb.

Digital cinema

Dolby Digital Cinema

Dolby Surround 7.1, first introduced theatrically with Toy Story 3, in 2010.

Dolby 3D

Dolby Atmos

Dolby Cinema, a premium cinema concept developed by Dolby Laboratories as a direct competitor to IMAX.

Live sound

Dolby Lake Processor - as of 2009, all Lake products are owned by Lab Gruppen.

Over the years Dolby has introduced several surround sound systems. Their differences are explained below.

Dolby matrix surround systems

Dolby discrete surround systems

ATSC controversy

Dolby Digital AC-3 is used as the audio codec for the ATSC standards, though it was standardized as A/52 by the ATSC. It allows the transport of up to five channels of sound with a sixth channel for low-frequency effects (the so-called "5.1" configuration). In contrast, Japanese ISDB HDTV broadcasts use MPEG's Advanced Audio Coding (AAC) as the audio codec, which also allows 5.1 audio output. DVB allows both.

MPEG-2 audio was a contender for the ATSC standard during the "Grand Alliance" shootout, but lost out to Dolby AC-3. The Grand Alliance issued a statement finding the MPEG-2 system to be "essentially equivalent" to Dolby, but only after the Dolby selection had been made. Later, a story emerged that MIT had entered into an agreement with Dolby whereupon the university would be awarded a large sum of money if the MPEG-2 system was rejected. Dolby also offered an incentive for Zenith to switch their vote (which they did); however, it is unknown whether they accepted the offer.

Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗

Wikidata ↗

DLB Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$61.59
Market Cap
P/E (TTM)
27.6
EPS (TTM)
$2.62
Revenue (TTM)
$1.35B
Div Yield
ROE
10.0%
Debt/Equity
52W Range
$48 – $76

DLB Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $1.35B
10-point trend, +31.5%
2016-09-30 2025-09-26
EPS $2.62
10-point trend, +44.8%
2016-09-30 2025-09-26
Free Cash Flow $436M
9-point trend, +70.2%
2016-09-30 2025-09-26
Margins 18.9%
9-point trend, -1.4%
2016-09-30 2025-09-26

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
DLB
Peer Median
P/E (TTM)
5-point trend, -11.3%
27.6
34.3

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
DLB
Peer Median
Gross Margin
5-point trend, -1.9%
88.1%
78.7%
Operating Margin
5-point trend, -26.9%
19.6%
Net Profit Margin
5-point trend, -21.9%
18.9%
11.8%
ROA
5-point trend, -21.8%
8.1%
6.6%
ROE
5-point trend, -18.9%
10.0%
19.5%
ROIC
5-point trend, -28.1%
8.5%

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
DLB
Peer Median
Current Ratio
5-point trend, -43.1%
3.2
1.6
Quick Ratio
5-point trend, -50.2%
2.4

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
DLB
Peer Median
Revenue YoY
5-point trend, +5.3%
5.9%
Revenue CAGR 3Y
5-point trend, +5.3%
2.5%
Revenue CAGR 5Y
5-point trend, +5.3%
3.0%
EPS YoY
5-point trend, -11.8%
-2.6%
Net Income YoY
5-point trend, -17.8%
-2.6%

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
DLB
Peer Median
EPS (Diluted)
5-point trend, -11.8%
$2.62

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
DLB
Peer Median
Payout Ratio
5-point trend, +72.7%
49.6%

Dividends Yield, payout ratio, dividend history, 5Y CAGR

Dividend Yield
Payout Ratio
49.6%
5Y Div CAGR
Ex-dateAmount
Aug. 11, 2026$0.3600
May 12, 2026$0.3600
Feb. 10, 2026$0.3600
Dec. 2, 2025$0.3600
Aug. 12, 2025$0.3300
May 13, 2025$0.3300
Feb. 11, 2025$0.3300
Dec. 3, 2024$0.3300
Aug. 19, 2024$0.3000
May 13, 2024$0.3000
Feb. 12, 2024$0.3000
Nov. 27, 2023$0.3000
Aug. 11, 2023$0.2700
May 15, 2023$0.2700
Feb. 13, 2023$0.2700
Nov. 29, 2022$0.2700
Aug. 22, 2022$0.2500
May 16, 2022$0.2500
Feb. 15, 2022$0.2500
Nov. 29, 2021$0.2500

DLB Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 10 analysts
  • Strong Buy 4 40.0%
  • Buy 3 30.0%
  • Hold 3 30.0%
  • Sell 0 0.0%
  • Strong Sell 0 0.0%

12-Month Price Target

3 analysts · 2026-08-14
Median target $85.00 +38.0%
Mean target $79.00 +28.3%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
0.02%
Period EPS Actual EPS Est Surprise
June 30, 2026 $0.69 $0.68 0.01%
March 31, 2026 $1.37 $1.35 0.02%
Dec. 31, 2025 $1.06 $1.35 -0.29%
Sept. 30, 2025 $0.99 $0.71 0.28%
June 30, 2025 $0.78 $0.72 0.06%
March 31, 2025 $1.34 $1.28 0.06%

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
DLB 27.6 5.9% 18.9% 10.0% 88.1%
GTLB -103.1 25.8% -5.9% -6.3% 87.4%
QLYS $4.75B 24.4 10.1% 29.6% 37.1% 82.8%
NTSK $0 -4.7 31.7% -95.8% 325.4% 68.1%
CVLT $3.21B 49.3 18.9% 6.0% 64.8% 81.2%
VRNS $3.86B -29.0 13.2% -20.7% -27.5% 78.8%
TENB -78.4 11.0% -3.6% -10.7% 78.1%
ADEA $1.88B 17.4 17.9% 25.1% 25.3%
TDC $2.82B 22.5 -5.0% 7.8% 64.0% 59.4%
APPN $2.62B 1771.0 17.8% 0.17% -2.5% 72.5%
MSFT $2.77T 20.8 17.8% 40.3% 34.0% 67.9%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 18
Annual Income Statement data for DLB
Metric Trend 202520242023202220212020201920182017201620152014
Revenue 11-point trend, +39.0% $1.35B $1.27B $1.30B $1.25B $1.28B $1.16B $1.24B $1.05B $1.08B $1.03B $971M ·
Cost of Revenue 11-point trend, +68.9% $160M $140M $153M $141M $130M $146M $161M $128M $119M $109M $95M ·
Gross Profit 11-point trend, +35.8% $1.19B $1.13B $1.15B $1.11B $1.15B $1.02B $1.08B $927M $962M $917M $876M ·
R&D Expense 11-point trend, +30.0% $262M $264M $272M $261M $254M $239M $238M $237M $233M $220M $201M ·
SG&A Expense 11-point trend, +57.3% $287M $270M $258M $275M $224M $220M $205M $197M $172M $169M $182M ·
Operating Expenses 11-point trend, +39.5% $924M $875M $931M $906M $807M $797M $824M $744M $715M $685M $663M ·
Operating Income 11-point trend, +24.3% $265M $258M $216M $207M $344M $219M $257M $184M $247M $232M $213M ·
Interest Expense 8-point trend, +115.3% · · · $394.0K $479.0K $186.0K $170.0K $198.0K $127.0K $125.0K $183.0K ·
Interest Income 8-point trend, +44.5% · · · $7M $3M $13M $25M $19M $10M $6M $5M ·
Other Non-op 11-point trend, -17.9% $23M $20M $6M $2M $7M $8M $481.0K $-6M $-1M $-1M $28M ·
Pretax Income 11-point trend, +23.5% $303M $312M $250M $215M $355M $240M $282M $196M $255M $236M $246M ·
Income Tax 11-point trend, -24.9% $47M $48M $48M $31M $37M $8M $27M $154M $48M $50M $63M ·
Net Income 11-point trend, +40.6% $255M $262M $201M $184M $310M $231M $255M $42M $206M $186M $181M ·
EPS (Basic) 11-point trend, +50.3% $2.66 $2.74 $2.10 $1.84 $3.07 $2.30 $2.51 $0.40 $2.03 $1.85 $1.77 ·
EPS (Diluted) 11-point trend, +49.7% $2.62 $2.69 $2.05 $1.81 $2.97 $2.25 $2.44 $0.39 $2.00 $1.81 $1.75 ·
Shares (Basic) 11-point trend, -6.3% 95,868,000 95,544,000 95,771,000 99,990,000 101,190,000 100,564,000 101,629,000 103,377,000 101,784,000 100,717,000 102,354,000 ·
Shares (Diluted) 11-point trend, -6.1% 97,479,000 97,325,000 97,733,000 101,983,000 104,622,000 102,944,000 104,572,000 106,978,000 103,286,000 102,424,000 103,862,000 ·
EBITDA 10-point trend, +24.3% $265M $258M $216M $207M $344M $219M $257M · $249M $232M $213M ·
Balance Sheet 24
Annual Balance Sheet data for DLB
Metric Trend 202520242023202220212020201920182017201620152014
Cash & Equivalents 11-point trend, +32.0% $702M $482M $745M $620M $1.23B $1.07B $797M $918M $634M $520M $532M ·
Short-term Investments 11-point trend, -99.5% $703.0K $0 $139M $189M $39M $47M $119M $178M $248M $122M $139M ·
Receivables 11-point trend, +226.0% $331M $315M $262M $244M $233M $180M $189M $166M $74M $76M $102M ·
Inventory 11-point trend, +119.3% $30M $34M $36M $24M $11M $26M $32M $26M $25M $16M $14M ·
Prepaid Expense 11-point trend, +61.9% $52M $70M $51M $50M $63M $53M $40M $35M $31M $26M $32M ·
Other Current Assets 11-point trend, +217.2% $24M $40M $26M $23M $33M $35M $22M $14M $11M $12M $8M ·
Current Assets 11-point trend, +69.0% $1.39B $1.19B $1.49B $1.31B $1.76B $1.55B $1.38B $1.50B $1.01B $760M $821M ·
PP&E (Net) 11-point trend, +16.7% $471M $479M $482M $513M $534M $542M $537M $514M $485M $444M $403M ·
PP&E (Gross) 11-point trend, +78.3% $1.08B $1.10B $1.06B $1.07B $1.07B $1.02B $955M $876M $791M $694M $605M ·
Accum. Depreciation 11-point trend, +201.4% $608M $619M $577M $558M $538M $476M $417M $362M $305M $251M $202M ·
Goodwill 11-point trend, +72.2% $530M $533M $408M $365M $341M $337M $335M $328M $311M $310M $308M ·
Intangibles 11-point trend, +211.4% $397M $435M $167M $112M $123M $152M $181M $184M $190M $215M $128M ·
Other Non-current Assets 11-point trend, +1106.3% $114M $121M $95M $55M $61M $91M $93M $80M $31M $21M $9M ·
Total Assets 11-point trend, +51.3% $3.23B $3.11B $2.98B $2.69B $3.11B $2.92B $2.82B $2.87B $2.53B $2.31B $2.13B ·
Accounts Payable 11-point trend, -13.9% $18M $17M $21M $14M $18M $13M $15M $22M $14M $18M $21M ·
Accrued Liabilities 11-point trend, +118.1% $369M $348M $351M $230M $263M $220M $268M $243M $207M $169M $169M ·
Current Liabilities 11-point trend, +108.8% $438M $418M $422M $278M $316M $267M $307M $285M $246M $213M $210M ·
Capital Leases 7-point trend, +28494000.00 $28M $35M $37M $38M $57M $65M $0 · · · · ·
Other Non-current Liabilities 11-point trend, +29.6% $100M $136M $108M $100M $105M $122M $177M $184M $108M $83M $77M ·
Total Liabilities 11-point trend, +87.8% $596M $623M $608M $439M $501M $479M $509M $495M $390M $331M $317M ·
Retained Earnings 11-point trend, +46.3% $2.63B $2.50B $2.39B $2.30B $2.61B $2.44B $2.33B $2.31B $2.08B $1.94B $1.80B ·
AOCI 11-point trend, -9.2% $-13M $-19M $-37M $-52M $-10M $-11M $-21M $-16M $-8M $-10M $-11M ·
Stockholders' Equity 11-point trend, +45.1% $2.62B $2.48B $2.36B $2.25B $2.60B $2.43B $2.31B $2.36B $2.14B $1.97B $1.81B ·
Liabilities + Equity 11-point trend, +51.3% $3.23B $3.11B $2.98B $2.69B $3.11B $2.92B $2.82B $2.87B $2.53B $2.31B $2.13B ·
Cash Flow 16
Annual Cash Flow data for DLB
Metric Trend 202520242023202220212020201920182017201620152014
D&A 11-point trend, +27.0% $88M $76M $83M $88M $96M $91M $85M $81M $84M $85M $69M ·
Stock-based Comp 11-point trend, +91.6% $129M $120M $118M $115M $100M $87M $77M $71M $65M $67M $67M ·
Deferred Tax 11-point trend, +134.4% $5M $-22M $-18M $-29M $-37M $-5M $-40M $61M $-35M $-23M $-14M ·
Amort. of Intangibles 11-point trend, +115.7% $45M $33M $29M $29M $30M $30M $30M $26M $31M $33M $21M ·
Restructuring 11-point trend, +18858.8% $15M $6M $47M $11M $10M $2M $37M $-446.0K $13M $1M $-80.0K ·
Operating Cash Flow 11-point trend, +52.6% $472M $327M $367M $319M $448M $344M $328M $352M $378M $360M $309M ·
CapEx 11-point trend, -76.9% $36M $30M $30M $48M $54M $66M $96M $73M $100M $101M $158M ·
Investing Cash Flow 11-point trend, +94.8% $-11M $-286M $54M $-296M $-45M $134M $-56M $78M $-158M $-282M $-204M ·
Net Debt Issued · · · · · · · · · · $0 ·
Stock Repurchased 11-point trend, +16.4% $125M $160M $149M $530M $246M $174M $341M $150M $100M $101M $107M ·
Net Stock Activity 10-point trend, -16.4% $-125M $-160M $-149M $-530M $-246M $-174M $-341M · $-100M $-101M $-107M ·
Dividends Paid 11-point trend, +208.6% $127M $115M $103M $100M $89M $89M $77M $66M $57M $48M $41M ·
Financing Cash Flow 11-point trend, -78.5% $-247M $-288M $-237M $-611M $-253M $-208M $-385M $-134M $-107M $-92M $-139M ·
Net Change in Cash 11-point trend, +690.0% $216M $-240M $190M $-605M $153M $274M $-120M $291M $111M $-16M $-37M ·
Free Cash Flow 10-point trend, +187.1% $436M $297M $337M $271M $393M $278M $231M · $271M $256M $152M ·
Levered FCF 7-point trend, +78.2% · · · $270M $393M $277M $231M · $271M $256M $152M ·
Profitability 8
Annual Profitability data for DLB
Metric Trend 202520242023202220212020201920182017201620152014
Gross Margin 10-point trend, -2.3% 88.1% 89.0% 88.3% 88.7% 89.8% 87.4% 87.0% · 89.1% 89.4% 90.2% ·
Operating Margin 10-point trend, -10.6% 19.6% 20.3% 16.6% 16.5% 26.9% 18.8% 20.7% · 23.0% 22.6% 22.0% ·
Net Margin 10-point trend, +1.1% 18.9% 20.6% 15.4% 14.7% 24.2% 19.9% 20.5% · 18.7% 18.1% 18.7% ·
Pretax Margin 10-point trend, -11.2% 22.5% 24.5% 19.2% 17.2% 27.7% 20.6% 22.7% · 23.7% 23.0% 25.3% ·
EBITDA Margin 10-point trend, -10.6% 19.6% 20.3% 16.6% 16.5% 26.9% 18.8% 20.7% · 23.0% 22.6% 22.0% ·
ROA 10-point trend, -8.6% 8.1% 8.6% 7.1% 6.3% 10.3% 8.1% 9.0% · 8.3% 8.4% 8.8% ·
ROE 10-point trend, -3.0% 10.0% 10.8% 8.7% 7.6% 12.3% 9.8% 10.9% · 9.8% 9.8% 10.3% ·
ROIC 10-point trend, -3.0% 8.5% 8.8% 7.4% 7.9% 11.9% 8.7% 10.1% · 9.2% 9.3% 8.8% ·
Liquidity & Solvency 3
Annual Liquidity & Solvency data for DLB
Metric Trend 202520242023202220212020201920182017201620152014
Current Ratio 10-point trend, -27.6% 3.2 2.9 3.5 4.7 5.6 5.8 4.5 · 4.1 3.6 4.4 ·
Quick Ratio 10-point trend, -35.9% 2.4 1.9 2.7 3.8 4.7 4.9 3.6 · 3.9 3.3 3.7 ·
Interest Coverage 7-point trend, -55.0% · · · 524.4 719.0 1176.0 1512.2 · 1957.7 1854.4 1165.2 ·
Efficiency 3
Annual Efficiency data for DLB
Metric Trend 202520242023202220212020201920182017201620152014
Asset Turnover 10-point trend, -9.7% 0.4 0.4 0.5 0.4 0.4 0.4 0.4 · 0.4 0.5 0.5 ·
Inventory Turnover 10-point trend, -41.0% 5.0 4.1 5.2 8.2 7.1 5.1 5.5 · 5.7 7.2 8.5 ·
Receivables Turnover 10-point trend, -59.6% 4.2 4.4 5.1 5.3 6.2 6.3 7.0 · 14.5 11.6 10.3 ·
Per Share 5
Annual Per Share data for DLB
Metric Trend 202520242023202220212020201920182017201620152014
Revenue / Share 10-point trend, +48.1% $13.84 $13.09 $13.30 $12.29 $12.25 $11.29 $11.87 · $10.47 $10.01 $9.35 ·
Cash Flow / Share 10-point trend, +62.6% $4.84 $3.36 $3.76 $3.12 $4.28 $3.34 $3.13 · $3.59 $3.48 $2.98 ·
Dividend / Share 11-point trend, +214.3% $1 $1 $1 $1 $1 $1 $1 $1 $1 $0 $0 ·
Dividend Paid / Share 11-point trend, +230.0% $1 $1 $1 $1 $1 $1 $1 $1 $1 $0 $0 ·
EPS (TTM) 12-point trend, +32.3% $2.62 $2.69 $2.05 $1.81 $2.97 $2.25 $2.44 $0.39 $2.00 $1.81 $1.75 $1.98
Growth Rates 10
Annual Growth Rates data for DLB
Metric Trend 202520242023202220212020201920182017201620152014
Revenue YoY 5-point trend, -42.4% 5.9% -2.0% 3.7% -2.1% 10.3% · · · · · · ·
Revenue CAGR 3Y 3-point trend, -35.2% 2.5% -0.20% 3.8% · · · · · · · · ·
Revenue CAGR 5Y 3.0% · · · · · · · · · · ·
EPS YoY 5-point trend, -108.1% -2.6% 31.2% 13.3% -39.1% 32.0% · · · · · · ·
EPS CAGR 3Y 3-point trend, +528.8% 13.1% -3.2% -3.1% · · · · · · · · ·
EPS CAGR 5Y 3.1% · · · · · · · · · · ·
Net Income YoY 5-point trend, -107.6% -2.6% 30.5% 9.0% -40.7% 34.1% · · · · · · ·
Net Income CAGR 3Y 3-point trend, +347.4% 11.5% -5.5% -4.6% · · · · · · · · ·
Net Income CAGR 5Y 2.0% · · · · · · · · · · ·
Dividend CAGR 5Y 7.4% · · · · · · · · · · ·
Valuation (TTM) 6
Annual Valuation (TTM) data for DLB
Metric Trend 202520242023202220212020201920182017201620152014
Revenue TTM 12-point trend, +40.5% $1.35B $1.27B $1.30B $1.25B $1.28B $1.16B $1.24B $1.05B $1.08B $1.03B $971M $960M
Net Income TTM 12-point trend, +23.7% $255M $262M $201M $184M $310M $231M $255M $42M $206M $186M $181M $206M
P/E 12-point trend, +26.4% 27.6 28.1 38.7 36.0 31.1 28.9 26.1 179.4 28.8 30.0 17.9 21.9
Earnings Yield 12-point trend, -20.8% 3.6% 3.6% 2.6% 2.8% 3.2% 3.5% 3.8% 0.56% 3.5% 3.3% 5.6% 4.6%
Payout Ratio 10-point trend, +119.5% 49.6% 43.8% 51.5% 54.4% 28.7% 38.3% 30.4% · 28.3% 26.0% 22.6% ·
Annual Payout 11-point trend, +208.6% $127M $115M $103M $100M $89M $89M $77M $66M $57M $48M $41M ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2025-09-262024-09-272023-09-292022-09-302021-09-24
Revenue $1.35B$1.27B$1.30B$1.25B$1.28B
Gross Margin % 88.1%89.0%88.3%88.7%89.8%
Operating Margin % 19.6%20.3%16.6%16.5%26.9%
Net Income $255M$262M$201M$184M$310M
Diluted EPS $2.62$2.69$2.05$1.81$2.97
Balance Sheet
2025-09-262024-09-272023-09-292022-09-302021-09-24
Current Ratio 3.22.93.54.75.6
Quick Ratio 2.41.92.73.84.7
Cash Flow
2025-09-262024-09-272023-09-292022-09-302021-09-24
Free Cash Flow $436M$297M$337M$271M$393M

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Institutional owners (13F) 419 filers · $2.3B total · As of June 30, 2026

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
54 (-20 vs prior Q) 71 (+28 vs prior Q) 129 (-23 vs prior Q) 146 (+22 vs prior Q) +8.3M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
VANGUARD GROUP INC $465,641,367 7,250,722 20.63% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $260,307,911 4,950,702 11.53% Shares
VANGUARD CAPITAL MANAGEMENT LLC $143,116,240 2,721,876 6.34% Shares
STATE STREET CORP $121,848,997 2,317,402 5.40% Shares
GEODE CAPITAL MANAGEMENT, LLC $84,360,725 1,604,137 3.74% Shares
FMR LLC $83,186,039 1,582,085 3.69% Shares
DIMENSIONAL FUND ADVISORS LP $75,115,319 1,428,591 3.33% Shares
SNYDER CAPITAL MANAGEMENT L P $69,650,833 1,324,664 3.09% Shares
DISCIPLINED GROWTH INVESTORS INC /MN $65,608,877 1,247,791 2.91% Shares
NORGES BANK $44,743,582 850,962 1.98% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $42,496,471 808,225 1.88% Shares
AMERIPRISE FINANCIAL INC $34,650,904 659,013 1.54% Shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP $27,717,968 527,158 1.23% Shares
Fiera Capital Corp $24,494,288 465,848 1.09% Shares
Robeco Institutional Asset Management B.V. $22,487,992 427,691 1.00% Shares
MILLENNIUM MANAGEMENT LLC $22,087,123 420,067 0.98% Shares
D. E. Shaw & Co., Inc. $21,820,963 415,005 0.97% Shares
MACKENZIE FINANCIAL CORP $21,737,413 413,416 0.96% Shares
Grantham, Mayo, Van Otterloo & Co. LLC $21,679,522 412,315 0.96% Shares
SHAPIRO CAPITAL MANAGEMENT LLC $20,383,426 387,665 0.90% Shares
VANGUARD FIDUCIARY TRUST CO $20,062,845 381,568 0.89% Shares
Gotham Asset Management, LLC $17,665,671 335,977 0.78% Shares
Squarepoint Ops LLC $17,612,880 334,973 0.78% Shares
Ninety One UK Ltd $17,382,836 330,598 0.77% Shares
LAZARD ASSET MANAGEMENT LLC $16,675,694 317,149 0.74% Shares
Boston Partners $16,133,950 309,992 0.71% Shares
VICTORY CAPITAL MANAGEMENT INC $15,349,942 291,935 0.68% Shares
RHUMBLINE ADVISERS $14,281,671 271,619 0.63% Shares
WELLINGTON MANAGEMENT GROUP LLP $14,135,187 268,832 0.63% Shares
ALPS ADVISORS INC $13,696,775 260,494 0.61% Shares
Boston Trust Walden Corp $12,637,813 240,354 0.56% Shares
MARSHALL WACE, LLP $12,393,422 235,706 0.55% Shares
Qube Research & Technologies Ltd $10,830,744 205,986 0.48% Shares
CITADEL ADVISORS LLC $10,819,860 205,779 0.48% Shares
Bank of New York Mellon Corp $10,384,971 197,508 0.46% Shares
NEW YORK STATE COMMON RETIREMENT FUND $10,361,204 197,056 0.46% Shares
Trexquant Investment LP $9,995,616 190,103 0.44% Shares
HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC $9,677,349 184,050 0.43% Shares
SEI INVESTMENTS CO $9,541,850 181,473 0.42% Shares
GOLDMAN SACHS GROUP INC $9,433,167 179,406 0.42% Shares
Aristotle Capital Boston, LLC $8,719,465 165,832 0.39% Shares
UBS Group AG $6,962,486 132,417 0.31% Shares
Vest Financial, LLC $6,518,816 123,979 0.29% Shares
Swiss National Bank $6,425,276 122,200 0.28% Shares
BANK OF AMERICA CORP /DE/ $6,397,777 121,677 0.28% Shares
CAPITAL FUND MANAGEMENT S.A. $6,100,489 116,023 0.27% Shares
California Public Employees Retirement System $5,956,420 113,283 0.26% Shares
BlackRock, Inc. $5,903,420 112,275 0.26% Shares
ProShare Advisors LLC $5,687,631 108,171 0.25% Shares
Campbell & CO Investment Adviser LLC $5,666,967 107,778 0.25% Shares
MARTINGALE ASSET MANAGEMENT L P $5,579,685 106,118 0.25% Shares
Assenagon Asset Management S.A. $5,478,941 104,202 0.24% Shares
FRONTIER CAPITAL MANAGEMENT CO LLC $5,268,689 100,203 0.23% Shares
VOLORIDGE INVESTMENT MANAGEMENT, LLC $4,811,333 91,505 0.21% Shares
Keeley-Teton Advisors, LLC $4,660,871 58,036 0.21% Shares
ALLIANCEBERNSTEIN L.P. $4,440,176 73,929 0.20% Shares
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM $4,355,431 72,518 0.19% Shares
Holocene Advisors, LP $4,317,291 82,109 0.19% Shares
Brevan Howard Capital Management LP $4,041,194 76,858 0.18% Shares
Summit Trail Advisors, LLC $4,033,254 76,707 0.18% Shares
ENVESTNET ASSET MANAGEMENT INC $3,976,178 75,621 0.18% Shares
Balyasny Asset Management L.P. $3,930,092 74,745 0.17% Shares
TD Asset Management Inc $3,796,276 72,200 0.17% Shares
Graham Capital Management, L.P. $3,585,535 68,192 0.16% Shares
WORLDQUANT MILLENNIUM ADVISORS LLC $3,453,454 65,680 0.15% Shares
Retirement Systems of Alabama $3,281,781 62,415 0.15% Shares
BNP PARIBAS FINANCIAL MARKETS $3,202,069 60,899 0.14% Shares
Bridgewater Associates, LP $3,169,259 60,275 0.14% Shares
Engineers Gate Manager LP $3,106,321 59,078 0.14% Shares
Diversified Investment Strategies, LLC $3,087,498 58,720 0.14% Shares
VANGUARD ASSET MANAGEMENT, Ltd $3,064,993 58,292 0.14% Shares
BARCLAYS PLC $3,054,898 58,100 0.14% Shares
WEDGE CAPITAL MANAGEMENT L L P/NC $3,034,231 50,520 0.13% Shares
STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM $2,938,696 55,890 0.13% Shares
Cardinal Capital Management $2,871,552 54,613 0.13% Shares
Illinois Municipal Retirement Fund $2,713,549 51,608 0.12% Shares
AlphaQuest LLC $2,636,809 41,059 0.12% Shares
Aquatic Capital Management LLC $2,552,075 48,537 0.11% Shares
Vanguard Global Advisers, LLC $2,547,816 48,456 0.11% Shares
GABELLI FUNDS LLC $2,488,138 47,321 0.11% Shares
CAMBIAR INVESTORS LLC $2,455,591 46,702 0.11% Shares
Schonfeld Strategic Advisors LLC $2,390,443 45,463 0.11% Shares
Baird Financial Group, Inc. $2,324,089 44,201 0.10% Shares
Partners Group Holding AG $2,305,686 43,851 0.10% Shares
MORGAN STANLEY $2,304,954 43,837 0.10% Shares
Quantinno Capital Management LP $2,263,606 43,050 0.10% Shares
Willis Investment Counsel $2,095,523 39,854 0.09% Shares
MANUFACTURERS LIFE INSURANCE COMPANY, THE $2,065,973 39,292 0.09% Shares
FIFTH THIRD BANCORP $1,977,221 37,604 0.09% Shares
BLAIR WILLIAM & CO/IL $1,898,854 36,114 0.08% Shares
BNP PARIBAS FINANCIAL MARKETS $1,892,880 360 0.08% Call option
BNP PARIBAS FINANCIAL MARKETS $1,892,880 360 0.08% Put option
Legal & General Group Plc $1,890,777 35,960 0.08% Shares
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC $1,879,157 31,288 0.08% Shares
KLP KAPITALFORVALTNING AS $1,808,752 34,400 0.08% Shares
Henshaw Capital LLC $1,800,287 34,239 0.08% Shares
Universal- Beteiligungs- und Servicegesellschaft mbH $1,797,551 34,187 0.08% Shares
Orion Portfolio Solutions, LLC $1,768,434 22,020 0.08% Shares
Elo Mutual Pension Insurance Co $1,739,504 33,083 0.08% Shares
TWO SIGMA INVESTMENTS, LP $1,734,036 32,979 0.08% Shares

Company insiders 36 insiders · 18 officers · 14 directors

Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Kevin J Yeaman President and CEO Feb. 5, 2026 G 98,377 0 10 $-10,514,591
Robert J Park SVP & Chief Financial Officer May 12, 2026 S 81,490 0 2 $-277,440
Lewis Chew EVP & Chief Financial Officer Aug. 17, 2021 M 105,598 0 0 $0
Murray J Demo EVP & Chief Financial Officer May 25, 2012 M 0 0 0 $0
Janet L Daly V.P. & Chief Financial Officer June 16, 2005 A 0 0 $0
Shriram Revankar SVP, Advanced Technology Group Aug. 14, 2026 S 73,274 0 5 $-1,272,340
Todd Pendleton SVP, Chief Marketing Officer May 22, 2026 S 41,480 0 1 $-647,836
Mark Andrew Sherman EVP, Gen. Counsel & Secretary Dec. 15, 2025 M 70,563 0 4 $-1,079,441
Steven E Forshay SVP, Advanced Technology Group Dec. 15, 2021 F 55,022 0 0 $0
Giles Baker SVP, Consumer Entertainment Dec. 23, 2020 M 32,376 0 0 $0
Bob Borchers SVP & Chief Marketing Officer Dec. 15, 2017 F 45,032 0 0 $0
Michael Bergeron SVP, WW Sales and Field Oper. Aug. 16, 2016 M 12,556 0 0 $0
Michael J Rockwell EVP, Advanced Technology Group Jan. 26, 2015 S 99,697 0 0 $0
Ramzi Haidamus EVP, Marketing and Bus. Dev. March 19, 2013 S 113,477 0 0 $0
Mark S Anderson EVP, Gen. Coun. & Secrty. Dec. 16, 2010 M 18,900 0 0 $0
Timothy A Partridge EVP, Products and Technologies March 3, 2009 C 15,463 0 0 $0
Martin A Jaffe Exec. V.P., Bus. Affairs Feb. 23, 2009 C 15,463 0 0 $0
Eduard A Schummer Sr. V.P. & GM, Consumer Div. Feb. 1, 2006 C 791 0 0 $0
Emily Rollins Director April 1, 2026 S 12,541 0 1 $-60,080
Anjali Sud Director Feb. 3, 2026 A 16,079 0 0 $0
Simon Segars Director Feb. 3, 2026 A 47,150 0 0 $0
Tony A Prophet Director Feb. 3, 2026 A 13,015 0 1 $-223,905
David E. Dolby Director Feb. 3, 2026 A 92,718 0 0 $0
Avadis Tevanian Director Feb. 3, 2026 A 3,908 0 0 $0
Peter C Gotcher Director Feb. 3, 2026 A 44,641 0 0 $0
Micheline Chau Director Feb. 7, 2023 A 66,882 0 0 $0
SIBONI ROGER S Director Feb. 8, 2022 A 37,554 0 0 $0
William N Jasper JR Director Feb. 2, 2021 S 7,000 0 0 $0
Nicholas Donatiello JR Director May 17, 2018 G 18,411 0 0 $0
Sanford Robertson Director July 31, 2014 M 4,324 0 0 $0
Ted W Hall Director Feb. 7, 2012 A 17,901 0 0 $0
Dagmar Dolby 10% owner May 31, 2018 C 0 0 0 $0
Ray Dolby 10% owner June 10, 2013 C 0 0 0 $0
Ryan Nicholson Aug. 10, 2026 S 35,636 0 3 $-282,310
John D Couling Aug. 3, 2026 M 118,727 0 11 $-3,349,815
David K Watts Nov. 14, 2006 A 0 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

Activists & 5%+ owners 2 positions

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
Dagmar Dolby, Dagmar Dolby, as Trustee of the Marital Trust under the Dolby Family Trust Instrument dated May 7, 1999, Dagmar Dolby, as Trustee of the Dagmar Dolby Trust under the Dolby Family Trust Instrument dated May 7, 1999, Dagmar Dolby, as Trustee of the Ray Dolby 2002 Trust A dated April 19, 2002, Dagmar Dolby, as Trustee of the Ray Dolby 2002 Trust B dated April 19, 2002, Dolby Holdings II LLC, Dolby Holdings III LLC, Dagmar Dolby, as Trustee of the Dagmar Dolby 2016 Trust B dated March 23, 2016, Thomas E. Dolby, David E. Dolby ×51 filings Feb. 13, 2026 36.00% Amendment SEC
Ray Dolby, Dagmar Dolby, Ray and Dagmar Dolby, as Trustees of the Ray Dolby Trust under the Dolby Family Trust Instrument dated May 7, 1999, Ray and Dagmar Dolby, as Trustees of the Ray Dolby 2002 Trust A dated April 19, 2002, Ray and Dagmar Dolby, as Trustees of the Ray Dolby 2002 Trust B dated April 19, 2002, Ray and Dagmar Dolby, as Trustees of the Ray Dolby 2011 Trust A dated December 14, 2011, Ray and Dagmar Dolby, as Trustees of the Ray Dolby 2011 Trust B dated December 14, 2011, Thomas E. Dolby, David E. Dolby, Dolby Holdings II LLC ×5 filings March 5, 2013 Initial filing SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

ETF ownership Held by 120 ETFs

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
TDV · ProShares Trust 2.07% 107,523 NS May 31, 2026 N-PORT
OUSM · ALPS ETF Trust 1.56% 245,360 NS May 31, 2026 N-PORT
RNIN · EA Series Trust 1.26% 30,041 NS April 30, 2026 N-PORT
XMLV · Invesco Exchange-Traded Fund Trust … 1.18% 143,670 SH Aug. 8, 2026 Daily
FXL · First Trust Exchange-Traded AlphaDE… 1.17% 270,132 NS April 30, 2026 N-PORT
HSMV · First Trust Exchange-Traded Fund III 1.04% 4,926 NS April 30, 2026 N-PORT
QLV · FlexShares Trust 0.75% 19,838 NS April 30, 2026 N-PORT
COWG · Pacer Funds Trust 0.75% 252,765 NS April 30, 2026 N-PORT
SDVD · First Trust Exchange-Traded Fund IV 0.73% 95,584 NS April 30, 2026 N-PORT
MUSQ · EXCHANGE TRADED CONCEPTS TRUST 0.71% 2,435 NS April 30, 2026 N-PORT
VFMV · VANGUARD WELLINGTON FUND 0.71% 56,424 SH Aug. 8, 2026 Daily
BKDV · BNY Mellon ETF Trust II 0.69% 149,541 NS April 30, 2026 N-PORT
MCOW · Pacer Funds Trust 0.66% 102 NS April 30, 2026 N-PORT
SMMV · iShares Trust 0.56% 26,625 SH Aug. 8, 2026 Daily
HAPS · Harbor ETF Trust 0.49% 12,041 NS April 30, 2026 N-PORT
AFMC · First Trust Exchange-Traded Fund VI… 0.47% 13,651 NS May 31, 2026 N-PORT
CALF · Pacer Funds Trust 0.46% 245,236 NS April 30, 2026 N-PORT
XMHQ · Invesco Exchange-Traded Fund Trust 0.43% 389,534 SH Aug. 8, 2026 Daily
ROSC · Lattice Strategies Trust 0.20% 1,748 NS April 30, 2026 N-PORT
GGME · Invesco Exchange-Traded Fund Trust 0.20% 1,518 SH Aug. 8, 2026 Daily
JVAL · J.P. Morgan Exchange-Traded Fund Tr… 0.19% 22,118 NS April 30, 2026 N-PORT
FLOW · Global X Funds 0.19% 981 NS May 31, 2026 N-PORT
IQSM · New York Life Investments ETF Trust 0.16% 7,784 NS April 30, 2026 N-PORT
JPME · J.P. Morgan Exchange-Traded Fund Tr… 0.16% 10,714 NS April 30, 2026 N-PORT
NUSC · Nushares ETF Trust 0.15% 30,851 NS April 30, 2026 N-PORT
MIDE · DBX ETF Trust 0.14% 83 NS May 29, 2026 N-PORT
JQUA · J.P. Morgan Exchange-Traded Fund Tr… 0.13% 156,686 NS April 30, 2026 N-PORT
IGV · iShares Trust 0.13% 294,503 SH Aug. 8, 2026 Daily
FYT · First Trust Exchange-Traded AlphaDE… 0.12% 3,545 NS April 30, 2026 N-PORT
FYX · First Trust Exchange-Traded AlphaDE… 0.12% 23,056 NS April 30, 2026 N-PORT
QVMM · Invesco Exchange-Traded Fund Trust … 0.12% 8,529 SH Aug. 8, 2026 Daily
XJH · iShares Trust 0.12% 8,197 SH Aug. 8, 2026 Daily
IJJ · iShares Trust 0.12% 169,117 SH Aug. 8, 2026 Daily
PTMC · Pacer Funds Trust 0.11% 6,983 NS April 30, 2026 N-PORT
FNDA · SCHWAB STRATEGIC TRUST 0.11% 179,398 NS May 31, 2026 N-PORT
FSMD · FIDELITY COVINGTON TRUST 0.11% 40,880 NS April 30, 2026 N-PORT
IJH · iShares Trust 0.10% 2,081,951 SH Aug. 8, 2026 Daily
IVOV · VANGUARD ADMIRAL FUNDS 0.10% 28,556 SH Aug. 8, 2026 Daily
TDVI · First Trust Exchange-Traded Fund IV 0.10% 6,505 NS April 30, 2026 N-PORT
DEUS · DBX ETF Trust 0.10% 4,733 NS May 29, 2026 N-PORT
BKMC · BNY Mellon ETF Trust 0.09% 8,891 NS April 30, 2026 N-PORT
IVOO · VANGUARD ADMIRAL FUNDS 0.09% 97,363 SH Aug. 8, 2026 Daily
IJK · iShares Trust 0.09% 158,117 SH Aug. 8, 2026 Daily
DFAS · Dimensional ETF Trust 0.09% 187,726 NS April 30, 2026 N-PORT
BBMC · J.P. Morgan Exchange-Traded Fund Tr… 0.08% 24,729 NS April 30, 2026 N-PORT
MIDU · Direxion Shares ETF Trust 0.08% 1,009 NS April 30, 2026 N-PORT
MVV · ProShares Trust 0.07% 2,105 NS May 31, 2026 N-PORT
SCHA · SCHWAB STRATEGIC TRUST 0.07% 293,231 NS May 31, 2026 N-PORT
EQAL · Invesco Exchange-Traded Fund Trust … 0.07% 9,701 SH Aug. 8, 2026 Daily
IVOG · VANGUARD ADMIRAL FUNDS 0.07% 26,795 SH Aug. 8, 2026 Daily