Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.04, read 2026-11-05
Ethical passes the values gate
Price64.82 USD
Fair value88.30
Ethical score70.0/100
Value readUndervaluedas of 5 Nov 2026
Our investment reviews on this name
2026-11-04Read Markup63.32+2.4% to today ✓Accumulation gives way to Markup first Markup read since August
2026-10-21Read Accumulation62.31+4.0% to today ✓Markdown gives way to Accumulation after a 6% rise in 7 days
2026-10-14Read Markdown58.74+10.4% to today Distribution gives way to Markdown with results news in the headlines
2026-10-02Read Distribution59.06+9.8% to today Markup gives way to Distribution after an 11% slide in 5 weeks
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Dolby Laboratories, Inc. holds its Markup at $64.82. The statistical read favours the sellers, held for 26 days.
As held on the ledger · 2026-11-05
Phase
Markup
Quantitative state
The statistical read favours the sellers, held for 26 days
Price at the screen
$64.82
Valuation
27.67 trailing · 14.20 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.78
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
1.20%
Below 33%
Interest-bearing debt is just 1.2% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.02%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
32.00%
Below 49%
Money owed to the company is 32.0% of assets, under the 49% limit.
Pass
Revenue purity
1.14%
Below 5%
Only 1.1% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Dolby Laboratories, clears all five screens. Its business is in a permissible area, its debt is near-nil, and interest is about 1% of its income, under the ~5% line, so it passes.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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Today DLB passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 5 Nov 2026: it trades at roughly a 27% discount to our $88.30 fair value.
Fair value range in USD, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. A 26.6% discount to the base estimate.
Where our models see it going: fair-value estimate $88.30, with a range of $68.70 to $114.50, dated to the 2026-11-05 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Sound Tech Giant Sits Far Below Fair Value
Every time a blockbuster hits the cinema or a streaming show lands on your screen, Dolby's audio tech is probably doing the heavy lifting behind the scenes. At a forward P/E of 10.7x and an 80% margin of safety to our $88 fair value, the numbers look attractive next to 7% revenue growth and 18% profit margins. Yet the opportunity rating stays at none because the moat remains unclear and returns on equity sit at just 9%.
We pass because a low multiple on modest growth rarely signals a bargain when competitive edges are hard to pin down. Analyst targets cluster around $85 and the ethical screen clears, yet nothing here points to durable outperformance or a widening advantage in licensing and hardware.
Currency swings in international licensing, slow adoption cycles in entertainment hardware, and the risk that cheaper rivals erode pricing power all sit in the picture. Low ROE already hints at limited reinvestment punch. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
DLB trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-04Markup · changed$63.32+1.6%Entry 10
The framework has shifted from accumulation to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 1.6% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are down 29%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (3 analysts) rates it buy, with a mean price target of $78.
2026-10-28Accumulation$62.31+0.0%Entry 9
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are down 29%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (3 analysts) rates it buy, with a mean price target of $78.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 6.1% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are down 29%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (3 analysts) rates it buy, with a mean price target of $78.
2026-10-14Markdown · changed$58.74-0.5%Entry 7
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 29%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (3 analysts) rates it buy, with a mean price target of $78.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 10.7% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 29%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (3 analysts) rates it buy, with a mean price target of $78.
2026-08-27Markup · changed$66.12+34.7%Entry 5
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 34.7% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 29%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (3 analysts) rates it buy, with a mean price target of $78.
2026-07-26Distribution$49.07-6.6%Entry 4
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 6.6% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 29%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (3 analysts) rates it buy, with a mean price target of $78.
2026-07-18Distribution$52.52+0.0%Entry 3
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 29%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (3 analysts) rates it buy, with a mean price target of $78.
2026-07-03Distribution$52.52+0.0%Entry 2
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-02Distribution$52.52Entry 1
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows negative risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.