undamentalytics Newsletter
Sign in

Dynatrace, Inc. (DT) stock

Add to watchlist

Add holding +

NYSE: DT NYSE Application Software Next results ~November 3, 2026

C+ Fundamentals grade

Dynatrace supplies software that monitors and secures complex IT systems, combining observability, runtime application security and AI-driven automation in one platform. It gathers logs, traces, metrics and other telemetry into a data store it calls Grail, maps dependencies through its Smartscape technology, and automates operations using its Dynatrace Intelligence system. Its capabilities span infrastructure, application and cloud observability, digital experience monitoring, application security, log management and business analytics, with agents such as OneAgent and PurePath collecting data across hybrid, multicloud environments including AWS, Azure and Google Cloud.

The company sells chiefly by subscription. Most customers run Dynatrace as software-as-a-service, though a managed option lets them keep data on their own infrastructure. Under its platform subscription licensing, a customer commits to a minimum annual spend and then draws against it by usage.

By March 2026 it had about 4,100 customers in more than 110 countries, spanning banking, government, insurance, retail, transport and software. It reaches them through a direct sales force and partners including systems integrators and cloud providers. Based in Boston, Dynatrace employs around 5,600 people across some 40 countries, about 28% of them in Austria.

Based on Dynatrace, Inc.'s 10-K filed May 20, 2026.

Stock price today

Loading chart…

Third-party market data · may be delayed

Fair value per share

~$49

Cash-flow model

Base case. Range ~$38–$64 across our lower- and higher-growth cases (13.4%–23.4% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 12% above our base value.

Price used: $55.13, November 2, 2026

Dynatrace, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Dynatrace files

10-Q filed November 3: Dynatrace

Rating: Sell to Hold Model value +18.8%

Dynatrace's revenue reached $2.18bn over the twelve months to September 2026, climbing 17.8% year-on-year, a pace little changed from the prior quarter. Free-cash-flow margin stayed steady at 26.5%. The fundamentals grade edges up from C to C+. Our model value increases from $41.34 to $49.11 a share, while the stock trades at $55.13. As a result, the rating moves from Sell to Hold. At that price, the market appears to be pricing in cash-flow growth of around 22.0% a year over the next five years, outpacing the 18.6% annual revenue growth the company has actually delivered.

Source: 10-Q filed November 3, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Dynatrace stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $2.10bn, up 17.9% on a year earlier, slower than 18.8% a quarter earlier. Free-cash-flow margin held at 27.2%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 3 of our 3 financial-health checks. Our cash-flow model value is $42.00 a share, against a share price of $62.51. At that price, our model says the market is pricing in about 27.2% a year of cash-flow growth for five years, faster than the 17.7% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Dynatrace, Inc.'s trailing-twelve-month revenue grew 17.8% year on year, with a free-cash-flow margin of 26.5%. Where it stands out: gross margin of 81.0% ranks 30 of 160 application software companies we cover.

Our discounted-cash-flow model values the business at ~$49 per share in the base case (~$38–$64 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 22.4% while net income fell 68.0%: a 90pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 17.8% over the last 12 months, against a median of 12.0% for application software companies we cover.
  • Strong cash generation. 26.5% of revenue turned into free cash flow, against a median of 15.2% for application software companies we cover.
  • Shrinking share count. Diluted shares fell 1.5% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $2.1bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • High earnings multiple. The shares trade at 110 times the last 12 months' earnings, so expectations are demanding.
  • Short interest rising. Shares sold short rose 38% in a month to 7.0% of tradable shares.

Latest results: FY2027 Q2

Filed November 3, 2026
Earnings per share
$0.48 against an average estimate of $0.44: beat by 8.2%
Revenue
$580m, up 17.4% on a year earlier
Guidance given
ARR $2,359m to $2,379m (Fiscal 2027); ARR (As reported growth) growth 15% to 16% (Fiscal 2027)
Next report
November 3, 2026; average EPS estimate $0.49

Dynatrace's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-4.4%
  • 1 week-14.1%
  • 1 month-7.1%
  • This year+27.2%
  • 1 year+9.0%
  • 5 years-26.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$2.2B
Operating margin
12.7%
Net margin
7.4%
EPS (TTM, diluted)
$0.54

Growth

Revenue growth
+17.8%
Change in growth rate
−0.2 pts
Share count change
−1.5%

Cash

Free cash flow (TTM)
$579M
FCF margin
26.5%
Stock pay % of revenue
13.9%

Earnings

Last results
November 3, 2026
Next results (est.)
February 8, 2027

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results

    Dynatrace posts Q2 revenue rise and adds $1bn to buyback

    Dynatrace, Inc. said second quarter revenue rose 17% to $580 million, while annual recurring revenue grew 16% to $2.21 billion. The company reported non-GAAP operating margin of 32% and net income per share of $0.54. Dynatrace, Inc. also announced a new $1 billion share repurchase authorization, bringing total remaining capacity to approximately $1.3 billion.

    Company releaseRead source ↗SEC filing ↗
  2. Announcement

    Dynatrace and CrowdStrike launch three new integrations

    Dynatrace, Inc. said it has formed a partnership with CrowdStrike to connect their respective platforms. The company announced three new integrations available immediately, which enable federated search and flexible log routing. Dynatrace stated these tools aim to help customers reduce data costs and accelerate threat investigations without moving data.

    Company releaseRead source ↗
  3. Leadership
  4. Results

    Dynatrace sets date for Q2 fiscal 2027 earnings call

    Dynatrace, Inc. said it will report second quarter fiscal year 2027 results on November 3, 2026. The company will hold a conference call at 8:00 a.m. Eastern Time to discuss the figures and business outlook. An audio replay will be available until November 17, 2026.

    Company releaseRead source ↗
  5. Our research

    Datadog vs Dynatrace: what the filings show

    Datadog's revenue grew 31.5% on a trailing-twelve-month basis and is accelerating; Dynatrace's grew 17.9%, the slowest in its filed history. Yet Dynatrace runs a 12.1% operating margin to Datadog's 0.4%. A dimension-by-dimension read of two observability vendors' SEC filings.

    FundamentalyticsRead our research ↗
  6. Announcement
  7. Deal
  8. Agreement
  9. Insider trade
  10. Shareholder vote
  11. Announcement
  12. Agreement
  13. Financing
  14. Financing
  15. Deal
  16. Results
  17. Guidance
  18. Leadership
  19. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Dynatrace, Inc. valuation models and calculator

What the price is pricing in

The share price implies about 22.0% a year of cash-flow growth for five years.That is close to the 18.6% a year revenue growth Dynatrace has delivered.

  • Priced in22.0%
  • Last 12 months17.8%
  • 3 years a year18.9%
  • 5 years a year18.6%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($48.05, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$49
Price used
$48.05close November 3, 2026
Implied change
▲ +2%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Dynatrace, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($258M, FY2027 Q2 TTM), growing 16.5% and 17.8% in the next two years (forecasts, guidance and its record), then back to 18.4% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$38–~$64 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Dynatrace, Inc.'s free cash flow after stock-based pay ( $258M, FY2027 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Dynatrace, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.4%: the 10-year Treasury yield (4.9%) plus a beta of 1 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$49 ~$38–$64 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$31 ~$25–$53 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$8.1 ~$5.4–$12 Left out: out of range vs price (0.17x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$8.1 ~$7.0–$9.6 Left out: out of range vs price (0.17x)
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$43 ~$31–$49 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Dynatrace, Inc. with Application Software in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −23%
  • Revenue growth 5 points higher ▲ +30%
  • Free-cash-flow margin 1 point lower ▼ −4%
  • Last year's free-cash-flow margin change, if it persists ▲ +4%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $16$20$26$34$45$59
8.5% $12$16$20$26$34$43
10% $11$13$17$21$27$34

Valuation multiples over time Market data may be delayed

At fiscal year end 2020202120222023202420252026Now
Share price$23.84$48.24$47.10$42.30$46.44$47.15$36.98$55.13
Market value$6.3bn$13.8bn$13.7bn$12.3bn$13.9bn$14.3bn$11.2bn$16.6bn
+ Net debt (− = net cash)$308m$76m−$182m−$555m−$779m−$1.0bn−$1.1bn−$664m
Enterprise value$6.6bn$13.9bn$13.5bn$11.8bn$13.1bn$13.3bn$10.1bn$15.9bn
Multiples
Price / sales 11.6x19.6x14.7x10.6x9.7x8.4x5.6x7.6x
Price / earnings —182.5xn/m114.3x89.9x29.6x69.0x102.3x
Price / free cash flow —67.0x58.7x37.0x39.5x33.0x21.2x28.6x
EV / EBITDA —137.7x147.1x111.9x91.2x66.9x38.4x53.8x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

51 /100

Moderate moat

How hard Dynatrace's competitive advantage looks for rivals to wear away, judged from 8 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 16.7% of total assets over 7 years.

  • Pricing power 20 / 20

    Gross margin has been a median 81.2%, moving by 2.4 percentage points (standard deviation) across 8 years.

  • Durability 2 / 20

    Operating margin has been a median 9.8%; its worst year was -44.5%.

  • Cash conversion 19 / 20

    Free cash flow was positive in 7 of 8 years, at a median 26.0% of revenue.

  • Discipline 5 / 20

    The diluted share count rose 4.0% over five years; stock-based pay has been a median 13.7% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (66 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, before the open. Analysts expect revenue of $568m and EPS of $0.49 (range $0.48 to $0.51) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.91 +13% $2.3bn +16%
Next $2.27 +19% $2.7bn +17%

Next year's EPS estimate has moved +0.3% in 90 days, across 12 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −1.7% on 90 days ago. In the last 30 days, 2 analysts raised Dynatrace, Inc.'s forecast and 1 cut it.

Consensus EPS forecast Dynatrace, Inc., last 90 days
$1.90 $2.00 $2.10 $2.20 $2.30 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.95 Current fiscal year, 60 days ago: $1.98 Current fiscal year, 30 days ago: $1.98 Current fiscal year, 7 days ago: $1.91 Current fiscal year, Now: $1.91 $1.91 Next fiscal year, 90 days ago: $2.26 Next fiscal year, 60 days ago: $2.30 Next fiscal year, 30 days ago: $2.30 Next fiscal year, 7 days ago: $2.26 Next fiscal year, Now: $2.27 $2.27

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.95$2.26
60 days ago $1.98$2.30
30 days ago $1.98$2.30
7 days ago $1.91$2.26
Now $1.91$2.27

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.44 $0.48 +8.2%
Mar 2026 $0.39 $0.41 +5.4%
Dec 2025 $0.41 $0.44 +7.2%
Sept 2025 $0.41 $0.44 +7.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 5, 2026
  • Total revenue Fiscal 2027 $2,306m to $2,320m
    “Total revenue $2,306 - $2,320 $2,317 - $2,335 $(13)” source
  • Total revenue (As reported growth) Fiscal 2027 14% growth to 15% growth
    “As reported 14% - 15% 15% - 16% (100) bps” source
  • Total revenue (Constant currency growth) Fiscal 2027 14.5% growth to 15% growth
    “Constant currency 14.5% - 15% 14% - 15% 25 bps” source
  • Total revenue Q2 Fiscal 2027 $565m to $570m New
    “Total revenue $565 - $570” source
  • Total revenue (As reported growth) Q2 Fiscal 2027 14% growth to 15% growth New
    “As reported 14% - 15%” source
  • Total revenue (Constant currency growth) Q2 Fiscal 2027 15% growth to 16% growth New
    “Constant currency 15% - 16%” source
Show 20 more items
  • Non-GAAP net income per diluted share Fiscal 2027 $1.97 to $1.99 Non-GAAP
    “Non-GAAP net income per diluted share $1.97 - $1.99 $1.93 - $1.95 $0.04” source
  • Non-GAAP net income per diluted share Q2 Fiscal 2027 $0.48 to $0.49 Non-GAAP New
    “Non-GAAP net income per diluted share $0.48 - $0.49” source
  • Non-GAAP operating margin Fiscal 2027 29.5% to 29.75% Non-GAAP
    “Non-GAAP operating margin 29.5% - 29.75% 29.5% 13 bps” source
  • Non-GAAP operating margin Q2 Fiscal 2027 29.5% to 30% Non-GAAP New
    “Non-GAAP operating margin 29.5% - 30%” source
  • ARR Fiscal 2027 $2,359m to $2,379m
    “ARR $2,359 - $2,379 $2,382 - $2,402 $(23)” source
  • ARR (As reported growth) Fiscal 2027 15% growth to 16% growth
    “As reported 15% - 16% 16% - 17% (100) bps” source
  • ARR (Constant currency growth) Fiscal 2027 15.5% growth to 16.5% growth
    “Constant currency 15.5% - 16.5% 15.5% - 16.5% -” source
  • Subscription revenue Fiscal 2027 $2,206m to $2,220m
    “Subscription revenue $2,206 - $2,220 $2,217 - $2,235 $(13)” source
  • Subscription revenue (As reported growth) Fiscal 2027 14% growth to 15% growth
    “As reported 14% - 15% 15% - 16% (100) bps” source
  • Subscription revenue (Constant currency growth) Fiscal 2027 14.5% growth to 15% growth
    “Constant currency 14.5% - 15% 14% - 15% 25 bps” source
  • Non-GAAP income from operations Fiscal 2027 $682m to $690m Non-GAAP
    “Non-GAAP income from operations $682 - $690 $682 - $690 $-” source
  • Non-GAAP net income Fiscal 2027 $581m to $591m Non-GAAP
    “Non-GAAP net income $581 - $591 $584 - $594 $(3)” source
  • Diluted weighted average shares outstanding Fiscal 2027 295m to 297m
    “Diluted weighted average shares outstanding 295 - 297 302 - 304 (7)” source
  • Adjusted free cash flow margin Fiscal 2027 about 26.5% Non-GAAP
    “Adjusted free cash flow margin* 26.5% 26.5% -” source
  • Subscription revenue Q2 Fiscal 2027 $540m to $545m New
    “Subscription revenue $540 - $545” source
  • Subscription revenue (As reported growth) Q2 Fiscal 2027 14% growth to 15% growth New
    “As reported 14% - 15%” source
  • Subscription revenue (Constant currency growth) Q2 Fiscal 2027 15% growth to 16% growth New
    “Constant currency 15% - 16%” source
  • Non-GAAP income from operations Q2 Fiscal 2027 $166m to $170m Non-GAAP New
    “Non-GAAP income from operations $166 - $170” source
  • Non-GAAP net income Q2 Fiscal 2027 $141m to $145m Non-GAAP New
    “Non-GAAP net income $141 - $145” source
  • Diluted weighted average shares outstanding Q2 Fiscal 2027 293m to 294m New
    “Diluted weighted average shares outstanding 293 - 294” source

How earlier guidance turned out

  • Total revenue, First Quarter Fiscal 2027 guided $547m to $551m Above range: $555m

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Dynatrace, Inc.'s revenue by +16.5% next year and +17.8% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+16.1%, weight 55%) , management guidance (+15.0%, weight 19%) and the company's own record (+18.4%, weight 26%) . How the weights are set.

Analyst recommendations

37 analysts, Oct 2026
Buy2876%
Hold822%
Sell13%

Monthly trend

  1. Oct 2026721837
  2. Sep 2026621937
  3. Aug 20265221037
  4. Jul 20264221137

Counts of recommendations published by analysts covering Dynatrace, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
7.0%
of tradable shares
Days to cover
2.39
at average volume
Short interest, 1 month
+38%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
0.6%
of shares
Employees
5,600
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +9.0%

$50.57 on October 31, 2025 to $55.13

ThenNowEffect
Revenue (last 12 months) $1.8bn $2.1bn +17.9%
Net margin 27.7% 7.2% −74.0%
P/E multiple 31.2x 109.7x +251.3%
Share count 304m 301m +1.1%

Biggest factor: net margin.

Last 3 years +15.7%

$47.66 on November 3, 2023 to $55.13

ThenNowEffect
Revenue (last 12 months) $1.2bn $2.1bn +71.2%
Net margin 11.8% 7.2% −38.6%
P/E multiple 97.0x 109.7x +13.0%
Share count 293m 301m −2.6%

Biggest factor: revenue.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
DT+40%−37%+43%−1%−20%+27%
Industry peers (median)−8%−50%+19%+2%−21%−14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
DT58%42%58%50%33%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
DT−28%−50%−21%−33%−34%−26%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since August 1, 2019: 62% from October 22, 2021 to May 11, 2022. Getting back needed a 162% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$32.36 – $65.25
From 52-week high
−15.5%
vs 50-day average
−4.5%
vs 200-day average
+23.7%
Volatility (1 year)
43%
Beta vs S&P 500
0.63

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 5 down
typical move ±7.3%
After a week
7 up, 4 down
typical move ±7.4%
After a month
6 up, 5 down
typical move ±9.1%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 +6.9% −0.4% +8.4% +15.4%
May 13, 2026 −5.3% +1.4% +1.7% +3.9%
February 9, 2026 +9.2% +0.2% +8.7% +11.5%
November 5, 2025 −7.2% −0.7% −6.3% −10.4%
August 6, 2025 −7.2% +0.7% −5.4% −1.0%
May 14, 2025 +4.9% +0.6% +6.1% +4.9%
January 30, 2025 +0.7% 0.0% +4.8% −2.8%
November 7, 2024 −6.4% +1.2% −4.6% +1.6%
August 7, 2024 +16.8% +1.6% +18.3% +23.9%
May 15, 2024 +4.4% +1.0% +2.9% −1.1%
February 8, 2024 −11.3% +0.6% −14.1% −23.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Dynatrace, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C+ (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Dynatrace, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Dynatrace, Inc.
$1B $1.5B $2B $2.5B FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue (TTM), FY24 Q3: $1.4B Revenue (TTM), FY24 Q4: $1.4B Revenue (TTM), FY25 Q1: $1.5B Revenue (TTM), FY25 Q2: $1.6B Revenue (TTM), FY25 Q3: $1.6B Revenue (TTM), FY25 Q4: $1.7B Revenue (TTM), FY26 Q1: $1.8B Revenue (TTM), FY26 Q2: $1.9B Revenue (TTM), FY26 Q3: $1.9B Revenue (TTM), FY26 Q4: $2B Revenue (TTM), FY27 Q1: $2.1B Revenue (TTM), FY27 Q2: $2.2B $2.2B

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue (TTM)
FY24 Q3 $1.4B
FY24 Q4 $1.4B
FY25 Q1 $1.5B
FY25 Q2 $1.6B
FY25 Q3 $1.6B
FY25 Q4 $1.7B
FY26 Q1 $1.8B
FY26 Q2 $1.9B
FY26 Q3 $1.9B
FY26 Q4 $2B
FY27 Q1 $2.1B
FY27 Q2 $2.2B
Revenue growth, TTM YoY Dynatrace, Inc.
16% 18% 20% 22% 24% 26% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue growth, TTM YoY, FY24 Q3: 24.4% Revenue growth, TTM YoY, FY24 Q4: 23.5% Revenue growth, TTM YoY, FY25 Q1: 22.3% Revenue growth, TTM YoY, FY25 Q2: 20.6% Revenue growth, TTM YoY, FY25 Q3: 19.8% Revenue growth, TTM YoY, FY25 Q4: 18.7% Revenue growth, TTM YoY, FY26 Q1: 18.7% Revenue growth, TTM YoY, FY26 Q2: 18.5% Revenue growth, TTM YoY, FY26 Q3: 18.2% Revenue growth, TTM YoY, FY26 Q4: 18.8% Revenue growth, TTM YoY, FY27 Q1: 17.9% Revenue growth, TTM YoY, FY27 Q2: 17.8% 17.8%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q3 24.4%
FY24 Q4 23.5%
FY25 Q1 22.3%
FY25 Q2 20.6%
FY25 Q3 19.8%
FY25 Q4 18.7%
FY26 Q1 18.7%
FY26 Q2 18.5%
FY26 Q3 18.2%
FY26 Q4 18.8%
FY27 Q1 17.9%
FY27 Q2 17.8%
Operating margin (TTM) Dynatrace, Inc.
8% 10% 12% 14% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Operating margin (TTM), FY24 Q3: 9.1% Operating margin (TTM), FY24 Q4: 9.0% Operating margin (TTM), FY25 Q1: 9.1% Operating margin (TTM), FY25 Q2: 9.5% Operating margin (TTM), FY25 Q3: 9.8% Operating margin (TTM), FY25 Q4: 10.6% Operating margin (TTM), FY26 Q1: 11.2% Operating margin (TTM), FY26 Q2: 12.2% Operating margin (TTM), FY26 Q3: 13.0% Operating margin (TTM), FY26 Q4: 12.2% Operating margin (TTM), FY27 Q1: 12.1% Operating margin (TTM), FY27 Q2: 12.7% 12.7%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q3 9.1%
FY24 Q4 9.0%
FY25 Q1 9.1%
FY25 Q2 9.5%
FY25 Q3 9.8%
FY25 Q4 10.6%
FY26 Q1 11.2%
FY26 Q2 12.2%
FY26 Q3 13.0%
FY26 Q4 12.2%
FY27 Q1 12.1%
FY27 Q2 12.7%
FCF margin (TTM) Dynatrace, Inc.
22% 24% 26% 28% 30% 32% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 FCF margin (TTM), FY24 Q3: 25.2% FCF margin (TTM), FY24 Q4: 24.6% FCF margin (TTM), FY25 Q1: 30.4% FCF margin (TTM), FY25 Q2: 28.2% FCF margin (TTM), FY25 Q3: 24.9% FCF margin (TTM), FY25 Q4: 25.4% FCF margin (TTM), FY26 Q1: 26.2% FCF margin (TTM), FY26 Q2: 25.5% FCF margin (TTM), FY26 Q3: 23.9% FCF margin (TTM), FY26 Q4: 26.2% FCF margin (TTM), FY27 Q1: 27.2% FCF margin (TTM), FY27 Q2: 26.5% 26.5%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q3 25.2%
FY24 Q4 24.6%
FY25 Q1 30.4%
FY25 Q2 28.2%
FY25 Q3 24.9%
FY25 Q4 25.4%
FY26 Q1 26.2%
FY26 Q2 25.5%
FY26 Q3 23.9%
FY26 Q4 26.2%
FY27 Q1 27.2%
FY27 Q2 26.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Dynatrace took in during FY2026, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $2B
  2. Other income $54.4M · 2.7%
  3. Cost of revenue $372M · 18.4%
  4. Gross profit $1.6B · 81.6%
  5. Research and development $474M · 23.5%
  6. Selling, general and admin $908M · 45.0%
  7. Other operating costs $18.6M · 0.9%
  8. Operating income $245M · 12.2%
  9. Income tax $137M · 6.8%
  10. Net income $163M · 8.1%

Shares of revenue. Source: Dynatrace's 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2018 Mar 2018 2019 Mar 2019 2020 Mar 2020 2021 Mar 2021 2022 Mar 2022 2023 Mar 2023 2024 Mar 2024 2025 Mar 2025 2026 Mar 2026 LTM Sept 2026
Income
Revenue 398 431 546 704 929 1,159 1,431 1,699 2,018 2,182
Gross profit 302 324 417 576 757 936 1,164 1,378 1,646 1,768
EBITDA −13 −65 −164 101 92 105 144 199 264 296
Operating income −22 −73 −172 92 81 93 128 179 245 277
Net income 9 −116 −414 76 52 108 155 484 163 162
Diluted EPS — — −$1.56 $0.26 $0.18 $0.37 $0.52 $1.59 $0.54 $0.54
Growth (year on year)
Revenue — +8.3% +26.6% +28.9% +32.1% +24.6% +23.5% +18.7% +18.8% +17.8%
EBITDA — — — — −8.9% +14.6% +36.6% +38.1% +32.8% +20.4%
Operating income — — — — −11.5% +14.1% +38.3% +39.7% +36.8% +22.8%
Net income — <−999% — — −30.7% +105.8% +43.2% +212.8% −66.4% −68.0%
Diluted EPS — — — — −30.8% +105.6% +40.5% +205.8% −66.0% −67.5%
Margins
Gross margin 75.7% 75.2% 76.4% 81.8% 81.4% 80.8% 81.4% 81.2% 81.6% 81.0%
EBITDA margin −3.3% −15.2% −30.1% 14.3% 9.9% 9.1% 10.1% 11.7% 13.1% 13.6%
Operating margin −5.5% −16.9% −31.5% 13.1% 8.7% 8.0% 9.0% 10.6% 12.2% 12.7%
Net margin 2.3% −27.0% −75.8% 10.8% 5.6% 9.3% 10.8% 28.5% 8.1% 7.4%
Free-cash-flow margin 26.9% 32.4% −29.7% 29.3% 25.1% 28.8% 24.6% 25.5% 26.2% 26.5%
Cash flow
Cash from operations 119 147 −142 220 251 355 378 459 562 607
Capital spending 12 7 20 14 18 22 26 26 32 29
Free cash flow 107 140 −162 206 233 333 352 433 530 579
Stock-based pay 22 71 222 58 100 147 209 272 300 303
Free cash flow after stock pay 85 69 −385 149 134 186 143 162 230 276
Balance sheet
Cash 78 51 213 325 463 555 779 1,017 1,097 2,076
Total debt 0 1,021 521 401 281 0 0 0 0 1,411
Net debt (negative = net cash) −78 970 308 76 −182 −555 −779 −1,017 −1,097 −664
Diluted shares — — 265m 287m 291m 292m 299m 304m 304m 300m
Returned to shareholders
Buybacks 1 1 0 0 0 0 0 173 479 907
Total returned 1 1 0 0 0 0 0 173 479 907

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 3 checks passed · September 30, 2026
What it owns · $5.3bn
Short-term assets $2.8bnLonger-term assets $2.5bn
What it owes, and who funded it · $5.3bn
Short-term liabilities $1.4bnLonger-term liabilities $1.7bnShareholders' equity $2.3bn
  • Short-term assets cover short-term liabilities $2.8bn of assets due within a year against $1.4bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $2.8bn short-term assets against $1.7bn of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of $277m against $1m of interest.

From Dynatrace, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2027 Q2 TTM
Buybacks (TTM)
$907M
Returned to shareholders
157%
of free cash flow
Buybacks, last 3 fiscal years
$651M
Diluted share count
−1.5%
year over year
Total shareholder yield
6.6%
dividends 0.0% + buybacks 6.6% of market value
R&D spending
23.8%
of revenue
Days sales outstanding
75 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in application software
Last 12 months unless stated DT PAYC U WIX FICO TYL Median
Revenue, last 12 months $2.2bn $2.1bn $2.0bn $2.0bn $2.4bn $2.5bn $482m
Revenue growth, last 12 months 17.8% 9.2% 14.0% 13.2% 24.1% 8.0% 12.0%
Revenue growth, 3-year average 18.9% 11.2% 3.9% 191.5% 17.6% 8.9% 11.1%
Revenue growth, latest quarter 17.4% 9.8% 23.9% — 25.7% 8.7% 11.9%
Gross margin 81.0% 83.7% 64.9% 68.1% 85.1% 47.7% 69.2%
Operating margin 12.7% 30.3% −30.4% 0.1% 51.7% 15.6% 1.1%
Operating margin, 3-year average 11.4% 30.4% −33.8% −12.4% 46.7% 14.8% −0.8%
Net margin 7.4% 22.8% −29.0% 2.5% 34.1% 13.5% 2.1%
Cash from operations / revenue 27.8% 37.4% 27.3% 29.2% 41.8% 30.5% 18.2%
Free-cash-flow margin 26.5% 26.9% 26.5% 27.9% 41.6% 29.9% 15.0%
Free-cash-flow margin, 3-year average 26.8% 20.9% 19.2% 16.2% 38.6% 27.3% 16.2%
Stock pay / revenue 13.9% 4.2% 16.9% 11.9% 7.3% 6.4% 9.3%
Change in share count −1.5% −7.1% 5.7% −3.7% −4.5% −3.6% 2.2%

Median of all 185 companies we cover in application software. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

185 application software companies
Measure Company Peer median Rank
Revenue growth Growth 17.8% 12.0% 66 of 184
Change in growth rate Growth -0.2pp +0.2pp 104 of 184
Gross margin Profitability 81.0% 69.8% 30 of 160
Operating margin Profitability 12.7% 1.1% 46 of 181
Net margin Profitability 7.4% 2.1% 72 of 185
Free-cash-flow margin Cash generation 26.5% 15.2% 45 of 180
Stock pay as % of revenue Cash generation 13.9% 9.3% 124 of 177
Change in share count Balance sheet -1.5% 1.7% 47 of 163
Days sales outstanding Balance sheet 75 days 57 days 112 of 162

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to March 31, 2026
Products and services
Line of business Revenue Share YoY
Subscriptions $1.9B 95.6% ▲ 19.0%
Services $88.7M 4.4% ▲ 15.9%
Geography
Region Revenue Share YoY
North America $1B 50.4% ▲ 16.0%
EMEA $649M 32.2% ▲ 23.3%
Asia Pacific $193M 9.6% ▲ 19.3%
Latin America $159M 7.9% ▲ 18.8%

From Dynatrace, Inc.'s 10-K filed May 20, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$13.3B
Institutions reporting
590
Shares held vs prior quarter
▲ 2.8%
Positions opened / closed
93 / 84

Top buyers and sellers, Q2 2026: 309 institutions bought and 301 sold ; the biggest buyer was Starboard Value LP (+8.9M shares) and the biggest seller Bank Of America Corp (−5.5M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.5B 35.0M 11.5% ▲ 5.1%
Vanguard Portfolio Management LLC $694M 15.8M 5.2% ▼ 4.1%
Vanguard Capital Management LLC $580M 13.2M 4.3% ▼ 1.2%
Pictet Asset Management Holding SA $560M 12.8M 4.2% ▼ 19.3%
Wellington Management Group LLP $506M 11.5M 3.8% ▲ 23.5%
UBS Group AG $494M 11.2M 3.7% ▲ 1.1%
State Street Corp $410M 9.3M 3.1% ▲ 1.7%
Starboard Value LP $389M 8.9M 2.9% New
AQR Capital Management LLC $365M 8.3M 2.7% ▲ 345.4%
First Trust Advisors LP $338M 7.7M 2.5% ▲ 13.1%
Geode Capital Management, LLC $336M 7.6M 2.5% ▼ 1.5%
Amundi $289M 6.6M 2.2% ▲ 5.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Dynatrace, Inc.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $107,250 1 trade by 1 insider, last 12 months Insider sales History → $4.7M 17 trades by 5 insiders · 100% under pre-set plans
Net ▼ $4.6M net selling
Insider Date Trade Shares Price Value
Greifeneder Bernd EVP, Chief Technology Officer September 18, 2026 Sell pre-set plan 50,000 $57.21 $2.9M
Greifeneder Bernd EVP, Chief Technology Officer September 5, 2026 Sell 41 $51.90 $2,128
Greifeneder Bernd EVP, Chief Technology Officer September 5, 2026 Sell 58 $51.90 $3,010
Greifeneder Bernd EVP, Chief Technology Officer June 5, 2026 Sell 162 $42.19 $6,835
Greifeneder Bernd EVP, Chief Technology Officer June 5, 2026 Sell 59 $42.19 $2,489
Greifeneder Bernd EVP, Chief Technology Officer June 5, 2026 Sell 10 $42.19 $422
Greifeneder Bernd EVP, Chief Technology Officer June 5, 2026 Sell 16 $42.19 $675
Greifeneder Bernd EVP, Chief Technology Officer March 5, 2026 Sell 59 $39.21 $2,313
Greifeneder Bernd EVP, Chief Technology Officer March 5, 2026 Sell 10 $39.21 $392
Greifeneder Bernd EVP, Chief Technology Officer March 5, 2026 Sell 16 $39.21 $627
Mcmahon Stephen A EVP, Chief Customer Officer March 3, 2026 Buy 3,000 $35.75 $107,250
Zugelder Dan EVP, Chief Revenue Officer December 10, 2025 Sell pre-set plan 7,505 $45.27 $339,751

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 9 trades and filings

In the last 12 months, 1 member of Congress disclosed 0 purchases and 1 sale of Dynatrace, Inc. shares.

  • Michael Guest(R-MS 3):Sale (full), $1,001 - $15,000, traded January 9, 2026, filed February 17, 2026
  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded September 25, 2025, filed October 22, 2025
  • Lisa C. McClain(R-MI 9):Purchase, $1,001 - $15,000, traded September 11, 2025, filed October 22, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 8, 2027 estimated from the company's past filing pattern, not announced

  • November 3, 2026
  • August 5, 2026
  • May 13, 2026
  • February 9, 2026
  • November 5, 2025
  • August 6, 2025

Recent SEC filings

Data status

When each part of this page on Dynatrace, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Dynatrace, Inc. in brief

What does Dynatrace, Inc. do?
Dynatrace, Inc. is a US-listed company in the application software industry. Its financial year ends in March.
What is Dynatrace, Inc.'s stock ticker?
Dynatrace, Inc. trades under the ticker DT on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Dynatrace, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Dynatrace, Inc. reported revenue of $2.2B, 17.8% higher than a year earlier, according to its SEC filings.
What is Dynatrace, Inc.'s free cash flow?
Dynatrace, Inc.'s free-cash-flow margin is 26.5% of revenue over the trailing twelve months, ranking 45 of the 180 application software companies we cover.
What is Dynatrace, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Dynatrace, Inc.'s free cash flow after stock-based pay gives ~$49 per share in the base case, and ~$38–$64 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Dynatrace, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Dynatrace, Inc. buying back stock, and does it pay a dividend?
Dynatrace, Inc. spent $907M on share repurchases over the trailing twelve months, and its diluted share count fell 1.5% over the year.
What is Dynatrace, Inc.'s market cap?
On November 2, 2026, Dynatrace, Inc.'s market capitalisation was about $16.6B, with a price-to-earnings ratio of 102.3 and net debt of -$664M. Market figures come from third-party market data and may be delayed.
Who are Dynatrace, Inc.'s competitors?
In our Application Software peer group, the companies closest to Dynatrace, Inc. are Paycom Software, Inc., Unity Software Inc., Wix.com Ltd., Fair Isaac and Tyler Technologies Inc. The side-by-side comparison below sets their revenue, margins and growth against Dynatrace, Inc.'s.
Are insiders buying or selling Dynatrace, Inc. stock?
Over the last 12 months, Dynatrace, Inc.'s directors and officers reported 1 open-market purchases and 17 sales on Form 4. The insider trading page charts every trade.
When is Dynatrace, Inc.'s next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Dynatrace, Inc. announces its own schedule.