Dolby Laboratories, Inc. (DLB) [Rocket]

In millions, except per share items	Sep-30-22	Sep-24-21	Sep-25-20	Sep-27-19	Sep-28-18	Sep-29-17	Sep-30-16	Sep-25-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Non-US	785.5	861.4		792.4
Other	468.2	419.9		449.2
Revenues [+]	1,253.8	1,281.3	1,161.8	1,241.6	1,054.6	1,080.2	1,025.7	970.6
Licensing							917.0	868.1
Products							90.5	83.9
Services							18.2	18.6
Revenue growth [+]	-2.1%	10.3%	-6.4%	17.7%	-2.4%	5.3%	5.7%	1.1%
Non-US	-8.8%
Cost of goods sold [+]	141.4	130.0	146.5	160.9	127.6	118.5	109.0	94.8
Cost of product sales							64.9	70.5
Cost of services							15.8	13.4
Cost of licensing							28.3	10.9
Gross profit	1,112.4	1,151.2	1,015.3	1,080.8	927.0	961.6	916.8	875.8
Gross margin	88.7%	89.9%	87.4%	87.0%	87.9%	89.0%	89.4%	90.2%
Selling, general and administrative [+]	634.0	556.8	555.7	549.3	507.2	468.3	464.1	461.4
Sales and marketing	358.7	332.7	335.9	343.8	309.8	296.7	295.3	279.2
General and administrative	275.3	224.2	219.8	205.4	197.4	171.7	168.9	182.2
Research and development	261.2	253.6	239.0	237.9	236.8	233.3	219.6	201.3
Other operating expenses	21.2	6.6	3.6	73.1	-0.9	25.7	2.5
EBITDA [+]	284.4	430.0	307.8	305.6	265.2	318.6	315.7	282.3
EBITDA growth	-33.9%	39.7%	0.7%	15.2%	-16.7%	0.9%	11.8%	-14.3%
EBITDA margin	22.7%	33.6%	26.5%	24.6%	25.2%	29.5%	30.8%	29.1%
Depreciation	59.5	66.4	61.4	55.4	54.8	53.4	52.0	48.1
EBITA	225.0	363.7	246.4	250.2	210.5	265.2	263.8	234.1
EBITA margin	17.9%	28.4%	21.2%	20.2%	20.0%	24.5%	25.7%	24.1%
Amortization of intangibles	29.0	29.5	29.5	29.7	26.5	30.9	33.2	21.0
EBIT [+]	196.0	334.2	216.9	220.5	184.0	234.3	230.6	213.1
EBIT growth	-41.3%	54.0%	-1.6%	19.9%	-21.5%	1.6%	8.2%	-22.8%
EBIT margin	15.6%	26.1%	18.7%	17.8%	17.4%	21.7%	22.5%	22.0%
Non-recurring items	-10.6	-10.2	-1.8	-36.6	0.4	-12.9	-1.2	-0.1
Interest income, net [+]	6.2	3.0	12.5	24.7	18.8	9.5	5.6	4.4
Interest expense	0.4	0.5	0.2	0.2	0.2	0.1	0.1	0.2
Interest income	6.6	3.5	12.7	24.9	19.0	9.6	5.7	4.5
Other income (expense), net [+]	2.5	7.1	8.4	0.5	-5.9	-1.4	-1.4	28.2
Gain (loss) on sale of assets		-13.9
Other	2.5	7.1	8.4	0.5	-5.9	-1.4	-1.5	28.2
Pre-tax income	215.3	354.5	239.7	282.3	196.4	255.1	235.9	245.8
Income taxes	31.4	36.7	8.1	26.8	154.1	48.0	49.5	62.5
Tax rate	14.6%	10.3%	3.4%	9.5%	78.5%	18.8%	21.0%	25.4%
Minority interest	-0.2	7.6	0.3	0.4	0.6	0.6	0.5	1.9
Net income	184.1	310.2	231.4	255.2	41.7	206.5	185.9	181.4
Net margin	14.7%	24.2%	19.9%	20.5%	4.0%	19.1%	18.1%	18.7%

Basic EPS [+]	$1.84	$3.07	$2.30	$2.51	$0.40	$2.03	$1.85	$1.77
Growth	-39.9%	33.3%	-8.4%	521.7%	-80.1%	9.9%	4.1%	-12.2%
Diluted EPS [+]	$1.81	$2.97	$2.25	$2.44	$0.39	$2.00	$1.81	$1.75
Growth	-39.1%	31.9%	-7.9%	525.3%	-80.5%	10.2%	3.9%	-12.2%

Dividends per share [+]	$1.02	$0.91	$0.88	$0.79	$0.67	$0.58	$0.50	$0.42
Growth	12.1%	3.4%	11.4%	17.9%	15.5%	16.0%	19.0%

Shares outstanding (basic) [+]	100.0	101.2	100.6	101.6	103.4	101.8	100.7	102.4
Growth	-1.2%	0.6%	-1.0%	-1.7%	1.6%	1.1%	-1.6%	0.2%
Shares outstanding (diluted) [+]	102.0	104.6	102.9	104.6	107.0	103.3	102.4	103.9
Growth	-2.5%	1.6%	-1.6%	-2.2%	3.6%	0.8%	-1.4%	0.2%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.