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Dolby Laboratories Earnings Yield (Joel Greenblatt) %

: 3.43% (As of Mar. 2022)
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Dolby Laboratories's Enterprise Value for the quarter that ended in Mar. 2022 was $6,917 Mil. Dolby Laboratories's EBIT for the trailing twelve months (TTM) ended in Mar. 2022 was $237 Mil. Dolby Laboratories's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2022 was 3.43%.

The historical rank and industry rank for Dolby Laboratories's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:

DLB' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 2.78   Med: 5.78   Max: 20.48
Current: 3.42

During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Dolby Laboratories was 20.48%. The lowest was 2.78%. And the median was 5.78%.

DLB's Earnings Yield (Joel Greenblatt) % is ranked better than
61.96% of 2726 companies
in the Software industry
Industry Median: 1.32 vs DLB: 3.42

Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.

A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Dolby Laboratories's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2022 was 9.68%. The Forward Rate of Return uses the normalized Free Cash Flow of the past seven years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.


Dolby Laboratories Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for Dolby Laboratories's Earnings Yield (Joel Greenblatt) % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Dolby Laboratories Annual Data
Trend Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21
Earnings Yield (Joel Greenblatt) %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.08 3.20 5.08 4.27 4.61

Dolby Laboratories Quarterly Data
Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22
Earnings Yield (Joel Greenblatt) % Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.67 3.95 4.61 3.24 3.43

Competitive Comparison

For the Information Technology Services subindustry, Dolby Laboratories's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Dolby Laboratories Earnings Yield (Joel Greenblatt) % Distribution

For the Software industry and Technology sector, Dolby Laboratories's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Dolby Laboratories's Earnings Yield (Joel Greenblatt) % falls into.



Dolby Laboratories Earnings Yield (Joel Greenblatt) % Calculation

In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.

Dolby Laboratoriess Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Sep. 2021 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=354.991/7708.576
=4.61 %

Dolby Laboratories's EBIT for the trailing twelve months (TTM) ended in Mar. 2022 adds up the quarterly data reported by the company within the most recent 12 months, which was $237 Mil.



Dolby Laboratories  (NYSE:DLB) Earnings Yield (Joel Greenblatt) % Explanation

Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.

Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.


Be Aware

Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.

Forward Rate of Return (Yacktman) % based on Don Yacktman's definition is a better measure of the expected rate of return for a stock.


Dolby Laboratories Earnings Yield (Joel Greenblatt) % Related Terms

Thank you for viewing the detailed overview of Dolby Laboratories's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.


Dolby Laboratories Business Description

Dolby Laboratories logo
Industry
Traded in Other Exchanges
Address
1275 Market Street, San Francisco, CA, USA, 94103-1410
Dolby Laboratories Inc develops audio and surround sound for cinema, broadcast, home audio systems, in-car entertainment systems, DVD players, games, televisions, and personal computers. The company generates three fourths of its revenue from licensing its technology to consumer electronics manufacturers around the world. The rest of revenue comes from equipment sales to professional producers and audio engineering services.
Executives
Revankar Shriram officer: SVP, Advanced Technology Group C/O DOLBY LABORATORIES, INC. 1275 MARKET STREET SAN FRANCISCO CA 94103
Prophet Tony A director 9 BERNICE STREET SAN FRANCISCO CA 94103
Couling John D officer: SVP, Entertainment C/O DOLBY LABORATORIES, INC. 1275 MARKET STREET SAN FRANCISCO CA 94103
Park Robert J officer: SVP & Chief Financial Officer C/O DOLBY LABORATORIES, INC. 1275 MARKET STREET SAN FRANCISCO CA 94103
Rollins Emily director C/O DOLBY LABORATORIES, INC. 1275 MARKET STREET SAN FRANCISCO CA 94103
Dagmar Dolby 2019 Trust Bb,dated July 22, 2019 10 percent owner 2515 SCOTT STREET SAN FRANCISCO CA 94115
Sud Anjali director C/O VIMEO INC. 555 WEST 18TH STREET NEW YORK NY 10011
Dagmar Dolby 2018 Trust Bb, Dated June 20, 2018 10 percent owner 2515 SCOTT STREET SAN FRANCISCO CA 94115
Nicholson Ryan officer: VP, Corporate Controller C/O DOLBY LABORATORIES INC. 1275 MARKET STREET SAN FRANCISCO CA 94103
Pendleton Todd officer: SVP, Chief Marketing Officer 1275 MARKET STREET SAN FRANCISCO CA 94103
Baker Giles officer: SVP, Consumer Entertainment 1275 MARKET STREET SAN FRANCISCO CA 94103
Dagmar Dolby 2016 Trust Bb, Dated March 23, 2016 10 percent owner 2515 SCOTT STREET SAN FRANCISCO CA 94115
Segars Simon director C/O DOLBY LABORATORIES, INC. 1275 MARKET STREET SAN FRANCISCO CA 94103
Marital Trust Under Dolby Family Trust Dated May 7, 1999 10 percent owner 2515 SCOTT STREET SAN FRANCISCO CA 94115
Dagmar Dolby Trust Under Dolby Family Trust Instrument Dated May 7, 1999 10 percent owner 2515 SCOTT STREET SAN FRANCISCO CA 94115

Dolby Laboratories Headlines

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