- Name: Dolby
- Ticker: DLB
- Sector: Technology
- Market Cap: [Market Cap]
1. Financial Health Check
- Revenue: [Revenue]
- Net Income: [Net Income]
- Net Margin: [Net Margin]
- Revenue Growth (3yr CAGR): [Revenue Growth (3yr CAGR)]
- ROE (Return on Equity): [ROE (Return on Equity)]
- ROIC (Return on Invested Capital): [ROIC (Return on Invested Capital)]
- Debt/Equity: [Debt/Equity]
- Free Cash Flow Yield: [Free Cash Flow Yield]
- Free Cash Flow Trend: [Free Cash Flow Trend]
2. Financial Trends
3. Historical Data
| Year | Revenue | Net Income | Gross Profit | Op. Cash Flow |
|---|---|---|---|---|
4. Competitive Advantage (Moat)
- Type of Moat: Intangible Assets
- Strength: Wide
- Description: Dolby's primary moat is its extensive portfolio of patents for audio and imaging technologies. The company's brand is also a significant asset, as it is synonymous with high-quality audio.
5. Management Quality
- CEO: Kevin Yeaman
- Capital Allocation History: [Track record of M&A, buybacks vs. dividends, reinvestment rates]
- Incentive Alignment: [How is management compensated? Stock options, performance targets?]
- Insider Ownership: [High/Low - Specific %]
6. Growth Prospects
- Total Addressable Market (TAM): [Size and Growth Rate]
- Market Share: [Current share and potential to gain]
- New Products/Services: [Pipeline]
7. Scuttlebutt & Soft Data
- Customer Reviews: [Trends in customer satisfaction]
- Employee Feedback: [Glassdoor ratings, turnover]
- Channel Checks: [Insights from suppliers or distributors]
8. Valuation
- P/E Ratio: [Current vs. Historical vs. Peers]
- EV/EBITDA: [Current vs. Historical vs. Peers]
- DCF Fair Value: [Estimate]
9. Risks
- [Risk 1]: The expiration of key patents could erode Dolby's competitive advantage.
- [Risk 2]: The rise of open-source and royalty-free audio and imaging technologies could reduce demand for Dolby's products.
- [Risk 3]: The company is dependent on a small number of large customers for a significant portion of its revenue.
10. Checklist
- Do I understand the business model?
- Is the balance sheet healthy?
- Is management aligned with shareholders?
- Is the valuation reasonable?
- Is there a clear catalyst?