Dolby vs Samsara
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The short version
- Samsara is the larger business, with $1.6B of revenue in fiscal 2026 against $1.3B for Dolby.
- Samsara grew revenue faster (29.6%, against 5.9%).
- Dolby kept more of each dollar of sales as operating profit (19.6% operating margin, against β3.3%).
- Dolby turned more of its sales into free cash flow (32.3% FCF margin, against 12.8%).
| Latest fiscal year | DLB Β· FY25 | IOT Β· FY26 |
|---|---|---|
| Size | ||
| Market cap | $5.9B | $26.5B |
| Revenue | $1.3B | $1.6B |
| Free cash flow | $436M | $207M |
| Net income | $255M | β$9.1M |
| Growth | ||
| Revenue growth | 5.9% | 29.6% |
| 5-year growth | 3.0% | 45.3% |
| Share count change | 0.2% | 3.1% |
| Profitability | ||
| Gross margin | 88.1% | 76.7% |
| Operating margin | 19.6% | β3.3% |
| Net margin | 18.9% | β0.6% |
| FCF margin | 32.3% | 12.8% |
| Return on capital | 11.4% | β |
| Return on equity | 10.0% | β0.7% |
| Balance sheet | ||
| Net debt | β$703M | β |
| Net debt / EBITDA | β2.0x | β |
| Dividends and buybacks | $252M | $0.0M |
| Valuation & quality | ||
| P/E | 26.7x | β |
| Piotroski F-score | 5 | β |
Revenue
FY17
DLB $1.1B
IOT β
FY18
DLB $1.1B
IOT β
FY19
DLB $1.2B
IOT β
FY20
DLB $1.2B
IOT β
FY21
DLB $1.3B
IOT $250M
FY22
DLB $1.3B
IOT $428M
FY23
DLB $1.3B
IOT $653M
FY24
DLB $1.3B
IOT $937M
FY25
DLB $1.3B
IOT $1.2B
FY26
DLB β
IOT $1.6B
DLB
IOT
Operating margin
FY17
DLB 22.9%
IOT β
FY18
DLB 17.4%
IOT β
FY19
DLB 20.7%
IOT β
FY20
DLB 18.8%
IOT β
FY21
DLB 26.9%
IOT β83.8%
FY22
DLB 16.5%
IOT β82.6%
FY23
DLB 16.6%
IOT β39.8%
FY24
DLB 20.3%
IOT β34.5%
FY25
DLB 19.6%
IOT β15.2%
FY26
DLB β
IOT β3.3%
DLB
IOT
Free cash flow
FY17
DLB $278M
IOT β
FY18
DLB $279M
IOT β
FY19
DLB $231M
IOT β
FY20
DLB $278M
IOT β
FY21
DLB $393M
IOT β$204M
FY22
DLB $271M
IOT β$191M
FY23
DLB $337M
IOT β$136M
FY24
DLB $297M
IOT β$22.8M
FY25
DLB $436M
IOT $111M
FY26
DLB β
IOT $207M
DLB
IOT
Return on capital
FY17
DLB 12.9%
IOT β
FY18
DLB 6.6%
IOT β
FY19
DLB 17.4%
IOT β
FY20
DLB 15.6%
IOT β
FY21
DLB 23.2%
IOT β
FY22
DLB 12.7%
IOT β
FY23
DLB 11.9%
IOT β
FY24
DLB 12.5%
IOT β
FY25
DLB 11.4%
IOT β
FY26
DLB β
IOT β
DLB
IOT
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.