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Side-by-side financial comparison of Dolby Laboratories, Inc. (DLB) and PEGASYSTEMS INC (PEGA). Click either name above to swap in a different company.
PEGASYSTEMS INC is the larger business by last-quarter revenue ($430.0M vs $395.6M, roughly 1.1× Dolby Laboratories, Inc.). Dolby Laboratories, Inc. runs the higher net margin — 24.0% vs 7.6%, a 16.4% gap on every dollar of revenue. On growth, Dolby Laboratories, Inc. posted the faster year-over-year revenue change (7.1% vs -9.6%). Over the past eight quarters, Dolby Laboratories, Inc.'s revenue compounded faster (13.9% CAGR vs 10.7%).
Dolby Laboratories, Inc. is an American technology corporation specializing in audio noise reduction, audio encoding/compression, spatial audio, and high-dynamic-range television (HDR) imaging. Dolby licenses its technologies to consumer electronics manufacturers.
Pegasystems Inc. (Pega) is a global software company based in Waltham, Massachusetts, in the United States, and founded in 1983. The company has been publicly traded since 1996 as PEGA (NASDAQ). Pega is a low-code platform for workflow automation and generative AI-powered decision-making for businesses.
DLB vs PEGA — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $395.6M | $430.0M |
| Net Profit | $94.9M | $32.8M |
| Gross Margin | 88.7% | 75.2% |
| Operating Margin | 28.5% | 8.6% |
| Net Margin | 24.0% | 7.6% |
| Revenue YoY | 7.1% | -9.6% |
| Net Profit YoY | 3.4% | — |
| EPS (diluted) | $0.99 | $0.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q2 26 | $395.6M | — | ||
| Q1 26 | $346.7M | $430.0M | ||
| Q4 25 | $346.7M | $504.3M | ||
| Q3 25 | $307.0M | $381.4M | ||
| Q2 25 | $315.5M | $384.5M | ||
| Q1 25 | $369.6M | $475.6M | ||
| Q4 24 | $357.0M | $490.8M | ||
| Q3 24 | $304.8M | $325.1M |
| Q2 26 | $94.9M | — | ||
| Q1 26 | $53.3M | $32.8M | ||
| Q4 25 | $53.3M | $234.6M | ||
| Q3 25 | $49.3M | $43.4M | ||
| Q2 25 | $46.1M | $30.1M | ||
| Q1 25 | $91.8M | $85.4M | ||
| Q4 24 | $67.8M | $119.1M | ||
| Q3 24 | $58.6M | $-14.4M |
| Q2 26 | 88.7% | — | ||
| Q1 26 | 87.5% | 75.2% | ||
| Q4 25 | 87.5% | 79.5% | ||
| Q3 25 | 87.1% | 72.2% | ||
| Q2 25 | 86.1% | 71.5% | ||
| Q1 25 | 90.3% | 78.5% | ||
| Q4 24 | 88.6% | 79.1% | ||
| Q3 24 | 88.8% | 70.2% |
| Q2 26 | 28.5% | — | ||
| Q1 26 | 17.9% | 8.6% | ||
| Q4 25 | 17.9% | 20.7% | ||
| Q3 25 | 9.7% | 3.8% | ||
| Q2 25 | 15.1% | 4.5% | ||
| Q1 25 | 29.2% | 26.7% | ||
| Q4 24 | 22.4% | 29.1% | ||
| Q3 24 | 15.2% | -3.6% |
| Q2 26 | 24.0% | — | ||
| Q1 26 | 15.4% | 7.6% | ||
| Q4 25 | 15.4% | 46.5% | ||
| Q3 25 | 16.1% | 11.4% | ||
| Q2 25 | 14.6% | 7.8% | ||
| Q1 25 | 24.8% | 18.0% | ||
| Q4 24 | 19.0% | 24.3% | ||
| Q3 24 | 19.2% | -4.4% |
| Q2 26 | $0.99 | — | ||
| Q1 26 | $0.55 | $0.18 | ||
| Q4 25 | $0.55 | $0.81 | ||
| Q3 25 | $0.50 | $0.24 | ||
| Q2 25 | $0.48 | $0.17 | ||
| Q1 25 | $0.94 | $0.91 | ||
| Q4 24 | $0.70 | $1.35 | ||
| Q3 24 | $0.59 | $-0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $594.7M | $270.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.6B | $705.9M |
| Total Assets | $3.2B | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | $594.7M | — | ||
| Q1 26 | $644.6M | $270.0M | ||
| Q4 25 | $644.6M | $425.8M | ||
| Q3 25 | $702.6M | $351.4M | ||
| Q2 25 | $699.3M | $411.6M | ||
| Q1 25 | $626.6M | $371.7M | ||
| Q4 24 | $520.8M | $740.0M | ||
| Q3 24 | $482.0M | $703.0M |
| Q2 26 | $2.6B | — | ||
| Q1 26 | $2.6B | $705.9M | ||
| Q4 25 | $2.6B | $787.4M | ||
| Q3 25 | $2.6B | $596.8M | ||
| Q2 25 | $2.6B | $624.5M | ||
| Q1 25 | $2.6B | $611.3M | ||
| Q4 24 | $2.5B | $585.5M | ||
| Q3 24 | $2.5B | $473.0M |
| Q2 26 | $3.2B | — | ||
| Q1 26 | $3.2B | $1.6B | ||
| Q4 25 | $3.2B | $1.6B | ||
| Q3 25 | $3.2B | $1.3B | ||
| Q2 25 | $3.2B | $1.3B | ||
| Q1 25 | $3.2B | $1.3B | ||
| Q4 24 | $3.2B | $1.8B | ||
| Q3 24 | $3.1B | $1.6B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $147.3M | — |
| Free Cash FlowOCF − Capex | — | $206.5M |
| FCF MarginFCF / Revenue | — | 48.0% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 1.55× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $494.9M |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | $147.3M | — | ||
| Q1 26 | $54.8M | — | ||
| Q4 25 | $54.8M | $158.4M | ||
| Q3 25 | $472.2M | $56.3M | ||
| Q2 25 | $67.7M | $86.3M | ||
| Q1 25 | $174.9M | $204.2M | ||
| Q4 24 | $106.8M | $95.2M | ||
| Q3 24 | $327.3M | $30.5M |
| Q2 26 | — | — | ||
| Q1 26 | — | $206.5M | ||
| Q4 25 | $50.2M | $152.4M | ||
| Q3 25 | $435.9M | $51.8M | ||
| Q2 25 | $61.3M | $84.1M | ||
| Q1 25 | $168.0M | $202.3M | ||
| Q4 24 | $100.0M | $92.4M | ||
| Q3 24 | $297.2M | $27.4M |
| Q2 26 | — | — | ||
| Q1 26 | — | 48.0% | ||
| Q4 25 | 14.5% | 30.2% | ||
| Q3 25 | 142.0% | 13.6% | ||
| Q2 25 | 19.4% | 21.9% | ||
| Q1 25 | 45.5% | 42.5% | ||
| Q4 24 | 28.0% | 18.8% | ||
| Q3 24 | 97.5% | 8.4% |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | 1.2% | ||
| Q3 25 | 11.8% | 1.2% | ||
| Q2 25 | 2.0% | 0.6% | ||
| Q1 25 | 1.9% | 0.4% | ||
| Q4 24 | 1.9% | 0.6% | ||
| Q3 24 | 9.8% | 0.9% |
| Q2 26 | 1.55× | — | ||
| Q1 26 | 1.03× | — | ||
| Q4 25 | 1.03× | 0.68× | ||
| Q3 25 | 9.57× | 1.30× | ||
| Q2 25 | 1.47× | 2.87× | ||
| Q1 25 | 1.91× | 2.39× | ||
| Q4 24 | 1.57× | 0.80× | ||
| Q3 24 | 5.59× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DLB
| Licensing | $372.2M | 94% |
| Products and services | $23.4M | 6% |
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
