Dolby
DLB · Application Software
$62.85
0.7%Guidewire Software
GWRE · Application Software
$189.00
0.3%The short version
- Guidewire Software is the larger business, with $1.5B of revenue in fiscal 2026 against $1.3B for Dolby.
- Guidewire Software grew revenue faster (22.7%, against 5.9%).
- Dolby kept more of each dollar of sales as operating profit (19.6% operating margin, against 10.2% operating margin).
- Dolby turned more of its sales into free cash flow (32.3% FCF margin, against 25.6% FCF margin).
- Guidewire Software earned a higher return on the capital invested in it (12.1%, against 11.4%).
- Investors pay more for each dollar of Guidewire Software’s earnings: a P/E of 116.0x against 26.7x for Dolby.
| Latest fiscal year | DLB · FY25 | GWRE · FY26 |
|---|---|---|
| Size | ||
| Market cap | $5.9B | $16.1B |
| Revenue | $1.3B | $1.5B |
| Free cash flow | $436M | $378M |
| Net income | $255M | $139M |
| Growth | ||
| Revenue growth | 5.9% | 22.7% |
| 5-year growth | 3.0% | 14.7% |
| Share count change | 0.2% | −0.6% |
| Profitability | ||
| Gross margin | 88.1% | 64.2% |
| Operating margin | 19.6% | 10.2% |
| Net margin | 18.9% | 9.4% |
| FCF margin | 32.3% | 25.6% |
| Return on capital | 11.4% | 12.1% |
| Return on equity | 10.0% | 10.5% |
| Balance sheet | ||
| Net debt | −$703M | −$75.0M |
| Net debt / EBITDA | −2.0x | −0.4x |
| Dividends and buybacks | $252M | $606M |
| Valuation & quality | ||
| P/E | 26.7x | 116.0x |
| Piotroski F-score | 5 | 8 |
FY17
DLB $1.1B
GWRE $510M
FY18
DLB $1.1B
GWRE $653M
FY19
DLB $1.2B
GWRE $720M
FY20
DLB $1.2B
GWRE $742M
FY21
DLB $1.3B
GWRE $743M
FY22
DLB $1.3B
GWRE $813M
FY23
DLB $1.3B
GWRE $905M
FY24
DLB $1.3B
GWRE $981M
FY25
DLB $1.3B
GWRE $1.2B
FY26
DLB —
GWRE $1.5B
DLB
GWRE
FY17
DLB 22.9%
GWRE 4.3%
FY18
DLB 17.4%
GWRE −2.4%
FY19
DLB 20.7%
GWRE 0.2%
FY20
DLB 18.8%
GWRE −3.2%
FY21
DLB 26.9%
GWRE −14.2%
FY22
DLB 16.5%
GWRE −24.5%
FY23
DLB 16.6%
GWRE −16.5%
FY24
DLB 20.3%
GWRE −5.4%
FY25
DLB 19.6%
GWRE 3.4%
FY26
DLB —
GWRE 10.2%
DLB
GWRE
FY17
DLB $278M
GWRE $133M
FY18
DLB $279M
GWRE $131M
FY19
DLB $231M
GWRE $71.2M
FY20
DLB $278M
GWRE $91.7M
FY21
DLB $393M
GWRE $92.6M
FY22
DLB $271M
GWRE −$47.5M
FY23
DLB $337M
GWRE $32.6M
FY24
DLB $297M
GWRE $189M
FY25
DLB $436M
GWRE $295M
FY26
DLB —
GWRE $378M
DLB
GWRE
FY17
DLB 12.9%
GWRE —
FY18
DLB 6.6%
GWRE —
FY19
DLB 17.4%
GWRE 0.2%
FY20
DLB 15.6%
GWRE −2.3%
FY21
DLB 23.2%
GWRE −10.3%
FY22
DLB 12.7%
GWRE −19.7%
FY23
DLB 11.9%
GWRE −14.5%
FY24
DLB 12.5%
GWRE −5.4%
FY25
DLB 11.4%
GWRE 4.8%
FY26
DLB —
GWRE 12.1%
DLB
GWRE
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.