Today, contributors Austin Smith and Chris Bledsoe look at one stock with some great metrics: Dolby Laboratories. The company trades for about 8 times cash flow and has a strong balance sheet and remarkably large gross margins.

But for all of the great things you can say about Dolby Laboratories, there are big risks as well. The company needs to reinvent itself quite a bit for today's tech revolution, which is all mobile.

Austin Smith owns shares of Corning. Chris Bledsoe has no positions in the stocks mentioned above. The Motley Fool owns shares of Dolby Laboratories and Corning. Motley Fool newsletter services recommend Dolby Laboratories and Corning. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.