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Held by 397 of 5,944 reporting institutions (96th percentile) — extremely crowded.
Data as of Q1 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $57.47 today, the market must believe free cash flow compounds 2.3%/yr for a decade (off $357M normalized FCF).
The market's 2.3% is more conservative than its 9-yr track record.
2-stage DCF · 0.10B shares · net debt -$702M
mean 8.9% · volatility σ 27% · implied rate exceeded in 5/9 yrs
Central path = implied 2.3%/yr growth; shaded band = ±1σ (27%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
6/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Coverage data unavailable.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 29% of free cash flow, leaving room to grow it and fund buybacks. Last year: $127M dividends + $125M buybacks = $252M returned on $436M FCF.
4 consecutive years of dividend increases · 12%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Modest payoff on reinvested capital. Current ROIC on all capital: 10%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Interest last disclosed in FY2022 (no longer broken out).
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
EOD close · as of 2026-09-17
Nothing notable to watch.
No material risks flagged.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Returns are margin-driven, not leverage-driven — higher quality.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 12.1 | 13.0 | 12.6 | 10.1 | 11.3 | 11.7 | 11.0 | 11.9 |
| Gross Profit | 87.9 | 87.0 | 87.4 | 89.9 | 88.7 | 88.3 | 89.0 | 88.1 |
| R&D | 22.5 | 19.2 | 20.6 | 19.8 | 20.8 | 20.9 | 20.7 | 19.4 |
| SG&A | 18.7 | 16.5 | 18.9 | 17.5 | 22.0 | 19.9 | 21.2 | 21.2 |
| Operating Income | 17.4 | 20.7 | 18.8 | 26.9 | 16.5 | 16.6 | 20.3 | 19.6 |
| Income Tax | 14.6 | 2.2 | 0.7 | 2.9 | 2.5 | 3.7 | 3.8 | 3.5 |
| Net Income | 4.0 | 20.5 | 19.9 | 24.2 | 14.7 | 15.4 | 20.6 | 18.9 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on DLB: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.35B 100.0% | $1.27B 100.0% | $1.30B 100.0% | $1.25B 100.0% | $1.28B 100.0% | $1.16B 100.0% | $1.24B 100.0% | $1.05B 100.0% | $1.08B 100.0% | $1.03B 100.0% |
| Cost of Revenue | $160.1M 11.9% | $140.5M 11.0% | $152.6M 11.7% | $141.4M 11.3% | $130.0M 10.1% | $146.5M 12.6% | $160.9M 13.0% | $127.6M 12.1% | $118.5M 11.0% | $109.0M 10.6% |
| Cost of Products | — | — | — | — | — | — | — | $65.3M 6.2% | $61.3M 5.7% | $64.9M 6.3% |
| Cost of Services | — | — | — | — | — | — | — | $19.5M 1.8% | $17.8M 1.7% | $15.8M 1.5% |
| Gross Profit | $1.19B 88.1% | $1.13B 89.0% | $1.15B 88.3% | $1.11B 88.7% | $1.15B 89.9% | $1.02B 87.4% | $1.08B 87.0% | $927.0M 87.9% | $961.6M 89.0% | $916.8M 89.4% |
| Research & Development | $261.8M 19.4% | $263.7M 20.7% | $271.5M 20.9% | $261.2M 20.8% | $253.6M 19.8% | $239.0M 20.6% | $237.9M 19.2% | $236.8M 22.5% | $233.3M 21.6% | $219.6M 21.4% |
| Selling, General & Admin | $286.5M 21.2% | $270.4M 21.2% | $258.5M 19.9% | $275.3M 22.0% | $224.2M 17.5% | $219.8M 18.9% | $205.4M 16.5% | $197.4M 18.7% | $171.7M 15.9% | $168.9M 16.5% |
| Total Operating Expenses | $924.0M 68.5% | $874.9M 68.7% | $931.4M 71.7% | $905.8M 72.2% | $806.8M 63.0% | $796.6M 68.6% | $823.7M 66.3% | $743.5M 70.5% | $714.5M 66.1% | $685.0M 66.8% |
| Operating Income | $265.0M 19.6% | $258.3M 20.3% | $215.8M 16.6% | $206.6M 16.5% | $344.4M 26.9% | $218.7M 18.8% | $257.1M 20.7% | $183.5M 17.4% | $247.1M 22.9% | $231.8M 22.6% |
| Interest Expense | — | — | — | $394K 0.0% | $479K 0.0% | $186K 0.0% | $170K 0.0% | $198K 0.0% | $127K 0.0% | $125K 0.0% |
| Interest & Investment Income | — | — | — | $6.6M 0.5% | $3.5M 0.3% | $12.7M 1.1% | $24.9M 2.0% | $19.0M 1.8% | $9.6M 0.9% | $5.7M 0.6% |
| Other Income (Expense), net | $38.5M 2.9% | $54.2M 4.3% | $34.3M 2.6% | $8.7M 0.7% | $10.1M 0.8% | $21.0M 1.8% | $25.2M 2.0% | $12.9M 1.2% | $8.0M 0.7% | $4.1M 0.4% |
| Pretax Income | $303.5M 22.5% | $312.5M 24.5% | $250.1M 19.2% | $215.3M 17.2% | $354.5M 27.7% | $239.7M 20.6% | $282.3M 22.7% | $196.4M 18.6% | $255.1M 23.6% | $235.9M 23.0% |
| Income Tax Expense | $47.0M 3.5% | $48.2M 3.8% | $48.4M 3.7% | $31.4M 2.5% | $36.7M 2.9% | $8.1M 0.7% | $26.8M 2.2% | $154.1M 14.6% | $48.0M 4.4% | $49.5M 4.8% |
| Net Income | $255.0M 18.9% | $261.8M 20.6% | $200.7M 15.4% | $184.1M 14.7% | $310.2M 24.2% | $231.4M 19.9% | $255.2M 20.5% | $41.7M 4.0% | $206.5M 19.1% | $185.9M 18.1% |
| Per Share | ||||||||||
| EPS (Basic) | $2.66 | $2.74 | $2.10 | $1.84 | $3.07 | $2.30 | $2.51 | $0.40 | $2.03 | $1.85 |
| EPS (Diluted) | $2.62 | $2.69 | $2.05 | $1.81 | $2.97 | $2.25 | $2.44 | $0.39 | $2.00 | $1.81 |
| Weighted Avg Shares (Basic) | 95.9M | 95.5M | 95.8M | 100.0M | 101.2M | 100.6M | 101.6M | 103.4M | 101.8M | 100.7M |
| Weighted Avg Shares (Diluted) | 97.5M | 97.3M | 97.7M | 102.0M | 104.6M | 102.9M | 104.6M | 107.0M | 103.3M | 102.4M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Ranked against 743 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TSM | $11.16T | — | — | — | — | — | — | — | — | — | 3,121 |
| NVDA | $5.33T | 44.8× | 40.0× | 24.7× | 65.5% | 71.1% | 55.6% | 76.3% | 72.4% | 0.1× | 5,582 |
| AAPL | $4.98T | 45.2× | 34.8× | 12.0× | 6.4% | 46.9% | 26.9% | 152% | 68.1% | 0.6× | 5,858 |
| MSFT | $3.70T | 27.7× | 19.6× | 11.1× | 17.8% | 67.9% | 40.3% | 30.2% | 27.7% | 0.2× | 5,944 |
| AVGO | $1.65T | 72.8× | 65.1× | 25.8× | 23.9% | 67.8% | 36.2% | 28.4% | 15.8% | 2.5× | 4,442 |
| MU | $1.10T | 128.8× | 60.7× | 29.3× | 48.9% | 39.8% | 22.8% | 15.8% | 12.9% | 0.7× | 2,894 |
| AMD | $888.5B | 205.7× | 210.2× | 25.6× | 34.3% | 49.5% | 12.5% | 6.9% | 6.5% | 0.8× | 3,059 |
| INTC | $543.3B | — | 67.4× | 10.3× | -0.5% | 34.8% | -0.5% | -0.2% | -0.2% | 5.5× | 2,495 |
| CSCO | $436.6B | 43.2× | 36.6× | 7.7× | 5.3% | 64.9% | 18.0% | 21.7% | 13.6% | 2.3× | 3,560 |
| PLTR | $421.4B | 279.8× | 291.6× | 94.2× | 56.2% | 82.4% | 36.3% | 22.0% | 22.0% | — | 2,883 |
| DELL | $383.6B | 67.8× | 36.1× | 3.4× | 18.8% | 20.0% | 5.2% | -240% | 20.4% | 2.8× | 1,564 |
| LRCX | $341.7B | 64.9× | 54.5× | 18.5× | 23.7% | 48.7% | 29.1% | 54.3% | 37.4% | 0.7× | 2,500 |
| RPAY | $338.0B | — | — | 1092.8× | -1.2% | 75.0% | -83.0% | -53.0% | -28.2% | -1.7× | 142 |
| AMAT | $331.0B | 48.2× | 38.1× | 11.7× | 4.4% | 48.7% | 24.7% | 34.3% | 25.9% | 0.8× | 2,826 |
| UMC | $307.4B | — | — | — | — | — | — | — | — | — | 302 |
| ARM | $281.9B | 311.6× | 242.9× | 57.3× | 22.8% | 97.5% | 18.4% | 10.9% | 10.9% | — | 730 |
| SAP | $262.5B | — | — | — | — | — | — | — | — | — | 794 |
| ANET | $250.7B | 72.6× | 63.3× | 27.8× | 28.6% | 64.1% | 39.0% | 28.4% | 28.4% | — | 1,930 |
| PANW | $250.5B | 234.4× | 156.5× | 27.2× | 14.9% | 73.4% | 12.3% | 14.5% | 14.5% | — | 2,374 |
| SNDK | $235.7B | — | — | 32.0× | 10.4% | 30.1% | -22.3% | -17.8% | -14.8% | -1.5× | 1,127 |
| TXN | $234.6B | 47.4× | 30.9× | 13.3× | 13.0% | 57.0% | 28.3% | 30.7% | 16.5% | 1.8× | 2,345 |
| CRM | $225.6B | 31.1× | 24.4× | 5.4× | 9.6% | 77.7% | 18.0% | 12.6% | 10.1% | 1.5× | 2,547 |
| IBM | $222.8B | 21.3× | — | 3.3× | 7.6% | 58.2% | 15.7% | 32.4% | 11.3% | — | 3,351 |
| MRVL | $204.0B | 78.4× | 133.3× | 24.9× | 42.1% | 51.0% | 32.6% | 18.7% | 14.2% | 2.9× | 1,477 |
| QCOM | $202.7B | 37.7× | 15.2× | 4.6× | 13.7% | 55.4% | 12.5% | 26.1% | 15.4% | 1.1× | 2,611 |
| DLB | $5.5B | 21.9× | 15.6× | 4.1× | 5.9% | 88.1% | 18.9% | 9.7% | 9.7% | — | 397 |
Peers = companies sharing DLB's sector (Technology) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.