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Dolby Laboratories vs Research Frontiers: revenue, profit, margins and growth compared

Dolby Laboratories brought in $1.3B of revenue in fiscal 2025, Research Frontiers $1.1M in fiscal 2025. Revenue changed by +5.9% at Dolby Laboratories and -16.0% at Research Frontiers on the year before, so Dolby Laboratories grew faster. Dolby Laboratories kept 18.9% of its revenue as net profit, Research Frontiers -182.4%. Free cash flow was $435.9M at Dolby Laboratories and -$1.3M at Research Frontiers.

Side by side, latest fiscal year

DLBREFR
Fiscal year endedFY2025 (September 26, 2025)FY2025 (December 31, 2025)
Revenue$1.3B$1.1M
Revenue growth+5.9%-16.0%
Net income$255M-$2M
Net margin18.9%-182.4%
Free cash flow$435.9M-$1.3M
Free cash flow margin32.3%-118.6%
Earnings per share (diluted)$2.62-$0.06
Cash$701.9M$664.3K
Debtn/an/a
Price to earnings22.4n/a
Market value$5.5B$27.6M
Dividend yield2.25%n/a
Rank by revenue in sector#11 of 49 · Other#45 of 49 · Other

Over the years

Revenue
DLB FY2018: $1.1BDLB FY2019: $1.2BDLB FY2020: $1.2BDLB FY2021: $1.3BDLB FY2022: $1.3BDLB FY2023: $1.3BDLB FY2024: $1.3BDLB FY2025: $1.3BREFR FY2018: $1.5MREFR FY2019: $1.6MREFR FY2020: $828.5KREFR FY2021: $1.3MREFR FY2022: $539.7KREFR FY2023: $909.6KREFR FY2024: $1.3MREFR FY2025: $1.1MFY18FY19FY20FY21FY22FY23FY24FY25
DLB $1.3BREFR $1.1M
Net income
DLB FY2018: $41.7MDLB FY2019: $255.2MDLB FY2020: $231.4MDLB FY2021: $310.2MDLB FY2022: $184.1MDLB FY2023: $200.7MDLB FY2024: $261.8MDLB FY2025: $255MREFR FY2018: -$2.7MREFR FY2019: -$3.8MREFR FY2020: -$2.3MREFR FY2021: -$1.8MREFR FY2022: -$2.7MREFR FY2023: -$1.9MREFR FY2024: -$1.3MREFR FY2025: -$2MFY18FY19FY20FY21FY22FY23FY24FY25
DLB $255MREFR -$2M
Net margin
DLB FY2018: 4.0%DLB FY2019: 20.5%DLB FY2020: 19.9%DLB FY2021: 24.2%DLB FY2022: 14.7%DLB FY2023: 15.4%DLB FY2024: 20.6%DLB FY2025: 18.9%REFR FY2018: -180.4%REFR FY2019: -243.5%REFR FY2020: -282.6%REFR FY2021: -146.2%REFR FY2022: -494.6%REFR FY2023: -209.8%REFR FY2024: -98.2%REFR FY2025: -182.4%FY18FY19FY20FY21FY22FY23FY24FY25
DLB 18.9%REFR -182.4%
Revenue growth
DLB FY2019: +17.7%DLB FY2020: -6.4%DLB FY2021: +10.3%DLB FY2022: -2.1%DLB FY2023: +3.7%DLB FY2024: -2.0%DLB FY2025: +5.9%REFR FY2019: +5.1%REFR FY2020: -47.0%REFR FY2021: +52.5%REFR FY2022: -57.3%REFR FY2023: +68.5%REFR FY2024: +46.8%REFR FY2025: -16.0%FY19FY20FY21FY22FY23FY24FY25
DLB +5.9%REFR -16.0%
Free cash flow
DLB FY2018: $279.4MDLB FY2019: $231.4MDLB FY2020: $277.5MDLB FY2021: $393.3MDLB FY2022: $270.6MDLB FY2023: $336.7MDLB FY2024: $297.2MDLB FY2025: $435.9MREFR FY2018: -$2.1MREFR FY2019: -$2.1MREFR FY2020: -$2.3MREFR FY2021: -$1.8MREFR FY2022: -$2.2MREFR FY2023: -$2.3MREFR FY2024: -$790.4KREFR FY2025: -$1.3MFY18FY19FY20FY21FY22FY23FY24FY25
DLB $435.9MREFR -$1.3M

Fiscal years as each company reports them; the two may end in different months.

Questions about Dolby Laboratories and Research Frontiers

Which is bigger by revenue, Dolby Laboratories or Research Frontiers?

Dolby Laboratories is bigger by revenue: $1.3B in fiscal 2025, against $1.1M for Research Frontiers in fiscal 2025.

Which keeps more of its revenue as profit, Dolby Laboratories or Research Frontiers?

Dolby Laboratories had a net margin of 18.9% in fiscal 2025; Research Frontiers had -182.4% in fiscal 2025.

Which grew revenue faster, Dolby Laboratories or Research Frontiers?

In their latest fiscal years revenue changed by +5.9% at Dolby Laboratories and -16.0% at Research Frontiers.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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