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Dynatrace

DT NYSE Application Software Financials FY2018–FY2026

Dynatrace's revenue rose 18.8% to $2.0 billion in fiscal 2026. Its operating margin was 12.2%, up from 10.6% a year earlier. Free cash flow was $530 million, up 22.2%. It paid out $479 million in dividends and buybacks, 90% of free cash flow.

Last close · Oct 23, 2026

$64.05

1.1%
Value it Compare
Revenue Total sales reported in the income statement.
$2.0B
18.8% vs prior year
Operating margin Operating income as a share of revenue.
12.2%
1.6 pts
Net income Profit after all expenses, interest and tax.
$163M
66.4%
Free cash flow Cash from operations minus capital spending.
$530M
22.2%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
9.0%
4.3 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$18.8B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
128.1x
On $0.50 EPS (TTM)

About these figures. Dynatrace's filings tag only its depreciation as its depreciation and amortization total for fiscal 2018 to 2023, leaving out its amortization of intangibles (US$42 million to US$73 million a year), so depreciation and amortization, EBITDA and the ratios built on it are left blank.

What Dynatrace does

No business description yet.

Legal name
Dynatrace, Inc.
Fiscal year ends
March 31, 2026
Latest annual report
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Accession · CIK
0001773383-26-000019
0001773383

Revenue and margins

Dynatrace had $2.0B of revenue in fiscal 2026, up 18.8% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $530M in fiscal 2026, 26.2% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Dynatrace returned $479M to shareholders in fiscal 2026, 90% of free cash flow. The diluted share count rose 0.0%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Dynatrace yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of $1.2B and divides by 303.7M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 128.1x · peers 23.6x · sector 33.0x.

Balance sheet

Cash, debt and the ratios that show how comfortably Dynatrace can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $463M$555M$837M$1.1B$1.2B
Debt incl. finance leases $274M$0.0M$0.0M$0.0M$0.0M
Debt / equity 0.2x0.0x0.0x0.0x0.0x
Interest coverage 7.8x10.8x91.7x179.4x306.7x
Current ratio 1.1x1.1x1.3x1.4x1.4x
Quick ratio 1.1x1.1x1.3x1.4x1.4x
Total assets $2.5B$2.8B$3.4B$4.1B$4.4B
Total liabilities $1.2B$1.2B$1.4B$1.5B$1.8B
Shareholders' equity $1.3B$1.6B$2.0B$2.6B$2.6B
Net debt (− = net cash) −$189M−$555M−$837M−$1.1B−$1.2B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.1M

1 insider

Sold, 12 months

$4.7M

5 insiders

Of sales under plans

100%

$4.7M

DateInsiderTradeSharesPriceValueFiling
Sep 18, 2026 Bernd GreifenederEVP, Chief Technology Officer Sold plan 50,000 $57.21 $2.9M Form 4
Sep 5, 2026 Bernd GreifenederEVP, Chief Technology Officer Sold 99 $51.90 $0.0M Form 4
Jun 5, 2026 Bernd GreifenederEVP, Chief Technology Officer Sold 247 $42.19 $0.0M Form 4
Mar 5, 2026 Bernd GreifenederEVP, Chief Technology Officer Sold 85 $39.21 $0.0M Form 4
Mar 3, 2026 Stephen A McMahonEVP, Chief Customer Officer Bought 3,000 $35.75 $0.1M Form 4
Dec 10, 2025 Dan ZugelderEVP, Chief Revenue Officer Sold plan 7,505 $45.27 $0.3M Form 4
Dec 5, 2025 Bernd GreifenederEVP, Chief Technology Officer Sold 85 $44.71 $0.0M Form 4
Dec 5, 2025 Lisa M CampbellDirector Sold plan 253 $44.24 $0.0M Form 4
Nov 17, 2025 Daniel S. YatesSVP, Chief Accounting Officer Sold plan 2,000 $46.69 $0.1M Form 4
Nov 11, 2025 Rick M McConnellChief Executive Officer, Director Sold plan 30,000 $46.61 $1.4M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY24FY25FY26
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✕
Cash from operations exceeds net income ✓ ✕ ✓
Debt fell relative to assets ✕ ✕ ✕
Current ratio rose ✓ ✓ ✕
Share count didn't rise ✕ ✕ ✕
Gross margin rose ✓ ✕ ✓
Revenue rose relative to assets ✓ ✕ ✕
F-score 7 / 94 / 94 / 9
Accruals ratio −7.2%0.6%−9.3%
Altman Z'' 2.253.203.05

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Dynatrace DT $18.8B 18.8% 12.2% 26.2% 9.0% 128.1x 4
Fair Isaac FICO $18.5B 15.9% 46.5% 38.7% 65.6% 23.6x 7 Compare →
Unity Software U $17.9B 2.0% −25.9% 21.8% −10.3% — 5 Compare →
Tyler Technologies TYL $16.3B 9.1% 15.3% 27.3% 9.0% 51.7x 6 Compare →
Pegasystems PEGA $6.1B 16.6% 15.1% 28.1% — 22.6x 6 Compare →

9 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $398M $431M $546M $704M $929M $1.2B $1.4B $1.7B $2.0B
Gross profit $302M $324M $417M $576M $757M $936M $1.2B $1.4B $1.6B
Research and development $58.3M $76.8M $119M $111M $156M $218M $305M $385M $474M
Operating income −$21.8M −$72.7M −$172M $91.9M $81.3M $92.8M $128M $179M $245M
Interest expense $35.2M $69.8M $45.4M $14.2M $10.4M $8.6M $1.4M $1.0M $0.8M
Pretax income −$51.8M −$140M −$219M $77.9M $71.7M $90.0M $155M $223M $300M
Income tax −$61.0M −$23.7M $195M $2.1M $19.2M −$18.0M $0.3M −$260M $137M
Net income $9.2M −$116M −$414M $75.7M $52.5M $108M $155M $484M $163M
Diluted EPS — — −$1.56 $0.26 $0.18 $0.37 $0.52 $1.59 $0.54
Diluted shares — — 0.26B 0.29B 0.29B 0.29B 0.30B 0.30B 0.30B
Cash flow
Cash from operations $119M $147M −$143M $220M $251M $355M $378M $459M $562M
Capital expenditure $11.6M $7.4M $19.7M $14.1M $17.7M $21.5M $26.5M $26.1M $32.2M
Free cash flow $107M $140M −$162M $206M $233M $333M $352M $433M $530M
Stock-based compensation $22.3M $71.2M $223M $57.8M $99.5M $147M $209M $272M $300M
Acquisitions $11.3M $0.0M $0.0M $0.0M $13.2M $0.0M $57.1M $0.1M $6.0M
Share buybacks $0.9M $0.6M $0.2M $0.0M $0.1M $0.0M $0.0M $173M $479M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $0.9M $0.7M $0.2M $0.1M $0.1M $0.0M $0.0M $173M $479M
Balance sheet
Cash and short-term investments $77.6M $51.3M $213M $325M $463M $555M $837M $1.1B $1.2B
Total debt — $1.0B $510M $392M $274M $0.0M $0.0M $0.0M $0.0M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets — $213M $488M $680M $948M $1.1B $1.6B $1.9B $2.1B
Current liabilities — $951M $490M $648M $866M $1.0B $1.3B $1.4B $1.6B
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net — $17.9M $31.5M $36.9M $45.3M $53.6M $53.3M $61.5M $73.0M
Total assets — $1.8B $2.0B $2.3B $2.5B $2.8B $3.4B $4.1B $4.4B
Total liabilities — $2.2B $1.1B $1.1B $1.2B $1.2B $1.4B $1.5B $1.8B
Shareholders' equity −$269M −$390M $966M $1.1B $1.3B $1.6B $2.0B $2.6B $2.6B
Margins
Gross margin 75.8% 75.2% 76.4% 81.9% 81.4% 80.8% 81.4% 81.2% 81.6%
Operating margin −5.5% −16.9% −31.5% 13.1% 8.8% 8.0% 9.0% 10.6% 12.2%
Net margin 2.3% −27.0% −75.8% 10.8% 5.6% 9.3% 10.8% 28.5% 8.1%
FCF margin 26.9% 32.4% −29.7% 29.3% 25.1% 28.8% 24.6% 25.5% 26.2%
Returns
Return on capital — — −14.8% 7.3% 5.2% 8.6% 11.5% 13.4% 9.0%
Return on capital employed — — −14.2% 5.8% 5.0% 5.5% 6.6% 7.3% 8.8%
Return on equity — — −143.8% 7.3% 4.3% 7.4% 8.5% 20.9% 6.2%
Return on assets — — −21.5% 3.5% 2.2% 4.1% 5.0% 12.8% 3.8%
Growth
Revenue growth — 8.3% 26.7% 28.9% 32.1% 24.7% 23.5% 18.8% 18.8%
Net income growth — −1,360.0% — — −30.7% 105.8% 43.2% 212.8% −66.4%
EPS growth — — — — −30.8% 105.6% 40.5% 205.8% −66.0%
FCF growth — 30.3% −216.0% — 13.0% 42.9% 5.5% 23.2% 22.2%
Share count change — — — 8.1% 1.5% 0.3% 2.6% 1.4% 0.0%
Financial health
Debt / equity — — 0.5x 0.4x 0.2x 0.0x 0.0x 0.0x 0.0x
Interest coverage −0.6x −1.0x −3.8x 6.5x 7.8x 10.8x 91.7x 179.4x 306.7x
Current ratio — 0.2x 1.0x 1.1x 1.1x 1.1x 1.3x 1.4x 1.4x
Quick ratio — 0.2x 1.0x 1.1x 1.1x 1.1x 1.3x 1.4x 1.4x
Capital allocation
Capex / revenue 2.9% 1.7% 3.6% 2.0% 1.9% 1.9% 1.9% 1.5% 1.6%
Stock comp / revenue 5.6% 16.5% 40.8% 8.2% 10.7% 12.7% 14.6% 16.0% 14.8%
Payouts / FCF 0.8% 0.5% — 0.0% 0.0% 0.0% 0.0% 39.8% 90.4%
Quality scores
Piotroski F-score — — — 8.0 6.0 6.0 7.0 4.0 4.0
Altman Z'' — −3.4 −0.6 0.7 0.9 1.5 2.3 3.2 3.1
Accruals ratio — — −14.1% −6.7% −8.3% −9.3% −7.2% 0.6% −9.3%

Source: SEC EDGAR XBRL filings (CIK 0001773383). Data updated October 16, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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