DLB vs. ON

Last updated Apr 1, 2026

Compare and contrast key facts about Dolby Laboratories, Inc. (DLB) and ON Semiconductor Corporation (ON).

Performance

DLB vs. ON - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dolby Laboratories, Inc. (DLB) and ON Semiconductor Corporation (ON). The values are adjusted to include any dividend payments, if applicable.

DLB vs. ON - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DLB Dolby Laboratories, Inc.	-5.97%	-16.27%	-7.95%	23.82%	-24.90%	-0.99%	42.99%	12.63%	0.78%	38.73%
ON ON Semiconductor Corporation	14.35%	-14.12%	-24.52%	33.93%	-8.17%	107.52%	34.25%	47.67%	-21.16%	64.11%

Fundamentals

Market Cap DLB : $5.80B ON : $24.91B
EPS DLB : $2.86 ON : $0.29
PE Ratio DLB : 21.00 ON : 210.64
PS Ratio DLB : 4.34 ON : 4.25
PB Ratio DLB : 2.24 ON : 3.25
Total Revenue (TTM) DLB : $1.34B ON : $6.00B
Gross Profit (TTM) DLB : $1.18B ON : $1.98B
EBITDA (TTM) DLB : $338.71M ON : $639.00M

Returns By Period

In the year-to-date period, DLB achieves a -5.97% return, which is significantly lower than ON's 14.35% return. Over the past 10 years, DLB has underperformed ON with an annualized return of 4.67%, while ON has yielded a comparatively higher 20.37% annualized return.

DLB

• 1D: 3.05%
• 1M: -9.78%
• YTD: -5.97%
• 6M: -16.11%
• 1Y: -23.73%
• 3Y*: -9.60%
• 5Y*: -8.71%
• 10Y*: 4.67%

ON

• 1D: 11.25%
• 1M: -6.86%
• YTD: 14.35%
• 6M: 25.57%
• 1Y: 52.17%
• 3Y*: -9.06%
• 5Y*: 7.62%
• 10Y*: 20.37%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

DLB vs. ON — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DLB

DLB Risk / Return Rank: 8
DLB Sharpe Ratio Rank: 6
DLB Sortino Ratio Rank: 8
DLB Omega Ratio Rank: 9
DLB Calmar Ratio Rank: 10
DLB Martin Ratio Rank: 8

ON

ON Risk / Return Rank: 72
ON Sharpe Ratio Rank: 73
ON Sortino Ratio Rank: 70
ON Omega Ratio Rank: 69
ON Calmar Ratio Rank: 76
ON Martin Ratio Rank: 71

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DLB vs. ON - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dolby Laboratories, Inc. (DLB) and ON Semiconductor Corporation (ON). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	DLB	ON	Difference
Sharpe ratio Return per unit of total volatility	-0.95	0.89	-1.83
Sortino ratio Return per unit of downside risk	-1.27	1.57	-2.84
Omega ratio Gain probability vs. loss probability	0.84	1.21	-0.36
Calmar ratio Return relative to maximum drawdown	-0.86	1.82	-2.68
Martin ratio Return relative to average drawdown	-1.60	3.61	-5.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DLB vs. ON - Sharpe Ratio Comparison

The current DLB Sharpe Ratio is -0.95, which is lower than the ON Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of DLB and ON, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DLB	ON	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.95	0.89	-1.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.36	0.15	-0.50
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	0.41	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.06	+0.11

Correlation

The correlation between DLB and ON is 0.42, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

DLB vs. ON - Dividend Comparison

DLB's dividend yield for the trailing twelve months is around 2.30%, while ON has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DLB Dolby Laboratories, Inc.	2.30%	2.10%	1.57%	1.29%	1.45%	0.96%	0.91%	1.15%	1.08%	0.94%	1.11%	1.25%
ON ON Semiconductor Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

DLB vs. ON - Drawdown Comparison

The maximum DLB drawdown since its inception was -62.19%, smaller than the maximum ON drawdown of -96.22%. Use the drawdown chart below to compare losses from any high point for DLB and ON.

Drawdown Indicators

	DLB	ON	Difference
Max Drawdown Largest peak-to-trough decline	-62.19%	-96.22%	+34.03%
Max Drawdown (1Y) Largest decline over 1 year	-27.12%	-28.10%	+0.98%
Max Drawdown (5Y) Largest decline over 5 years	-39.66%	-70.44%	+30.78%
Max Drawdown (10Y) Largest decline over 10 years	-39.66%	-70.44%	+30.78%
Current Drawdown Current decline from peak	-37.55%	-42.71%	+5.16%
Average Drawdown Average peak-to-trough decline	-22.22%	-53.49%	+31.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.60%	14.20%	+0.40%

Volatility

DLB vs. ON - Volatility Comparison

The current volatility for Dolby Laboratories, Inc. (DLB) is 6.60%, while ON Semiconductor Corporation (ON) has a volatility of 17.74%. This indicates that DLB experiences smaller price fluctuations and is considered to be less risky than ON based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DLB	ON	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.60%	17.74%	-11.14%
Volatility (6M) Calculated over the trailing 6-month period	17.13%	35.17%	-18.04%
Volatility (1Y) Calculated over the trailing 1-year period	25.20%	58.93%	-33.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.65%	51.92%	-27.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.65%	50.28%	-23.63%

Financials

DLB vs. ON - Profitability Comparison

The chart below illustrates the profitability comparison between Dolby Laboratories, Inc. and ON Semiconductor Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

DLB - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Dolby Laboratories, Inc. reported a gross profit of 303.50M and revenue of 346.71M. Therefore, the gross margin over that period was 87.5%.

ON - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, ON Semiconductor Corporation reported a gross profit of 551.00M and revenue of 1.53B. Therefore, the gross margin over that period was 36.0%.

DLB - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Dolby Laboratories, Inc. reported an operating income of 62.16M and revenue of 346.71M, resulting in an operating margin of 17.9%.

ON - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, ON Semiconductor Corporation reported an operating income of 200.10M and revenue of 1.53B, resulting in an operating margin of 13.1%.

DLB - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Dolby Laboratories, Inc. reported a net income of 89.52M and revenue of 346.71M, resulting in a net margin of 25.8%.

ON - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, ON Semiconductor Corporation reported a net income of 181.80M and revenue of 1.53B, resulting in a net margin of 11.9%.