Dolby Laboratories (DLB)
Return on total capital
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 203,700 | 237,435 | 272,005 | 297,573 | 224,252 | 215,794 | 227,817 | 237,665 | 279,332 | 347,417 | 338,718 | 319,320 | 344,535 | 239,640 | 261,524 | 263,396 | 262,647 | 282,119 | 243,597 | 195,930 |
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 2,345,850 | 2,355,100 | 2,366,240 | 2,350,780 | 2,287,580 | 2,246,180 | 2,454,360 | 2,599,770 | 2,637,750 | 2,597,980 | 2,621,520 | 2,587,930 | 2,565,160 | 2,432,640 | 2,431,370 | 2,364,060 | 2,333,290 | 2,307,350 | 2,314,520 | 2,347,020 |
| Return on total capital | 8.68% | 10.08% | 11.50% | 12.66% | 9.80% | 9.61% | 9.28% | 9.14% | 10.59% | 13.37% | 12.92% | 12.34% | 13.43% | 9.85% | 10.76% | 11.14% | 11.26% | 12.23% | 10.52% | 8.35% |
December 31, 2023 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $203,700K ÷ ($—K + $2,345,850K)
= 8.68%
The return on total capital for Dolby Laboratories has fluctuated over the past few quarters. It started at 8.35% in Q1 2019, increased to 12.66% in Q1 2023, and then decreased to 8.68% in Dec 2023. Despite these fluctuations, the return on total capital has generally been above 8% and has peaked at 13.43% in Q4 2020. This indicates that Dolby Laboratories has been generating a reasonable return on the total capital employed in its operations, with some variability in performance over the analyzed period.
Peer comparison
Dec 31, 2023
Company name
Symbol
Return on total capital
Dolby Laboratories
DLB
8.68%
InterDigital Inc
IDCC
46.26%
Marathon Digital Holdings Inc
MARA
23.83%