olivLaw · US equity research
Dynatrace, Inc. DT
Services-Prepackaged Software · SIC 7372 · Vertical: Services-Prepackaged Software (SIC 7372)
Dynatrace (DT) is an observability and runtime security platform with total revenue of 2,018 million USD in fiscal 2026. In the first quarter of fiscal 2027 revenue reached 555 million USD, up 16%, and the company exceeded the high end of its guidance.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Dynatrace, Inc. (DT) stock was 46.78 USD (−0.53% on the day), with market capitalisation 13.4 bn USD, P/E 87.0 on diluted EPS of 0.54 USD over the last 12 months, beta 0.93, 52-week range 32.36–65.25 USD. Latest reported quarter (Q2 2027): revenue of 579.9 m USD (+17.4% YoY), net income of 67.8 m USD (+18.4% YoY), diluted EPS 0.23 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 23.0
- oversold (≤ 30)
- Bollinger (20, 2)
- 50.43 – 71.42
- below the lower band · %B -0.17 · band width 34.4%
- SMA 50 / 200
- 57.59 / 44.65
- mixed trend
- MACD (12, 26, 9)
- -1.60 / 0.60
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −22.3% | −1.1% | −21.2 pp | — |
| 3 months | −8.0% | −0.5% | −7.6 pp | — |
| 6 months | +22.4% | +4.4% | +18.0 pp | — |
| Year to date | +7.9% | +12.3% | −4.4 pp | — |
| 1 year | −5.7% | +13.5% | −19.3 pp | −0.7% |
| 3 years | −1.8% | +76.4% | −78.3 pp | +28.7% |
| 5 years | −38.7% | +63.7% | −102.4 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2027 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 | Q2 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 436.2 m | 445.2 m | 477.3 m | 493.8 m | 515.5 m | 531.7 m | 554.5 m | 579.9 m |
| Cost of revenue | 82.6 m | 85.1 m | 85.2 m | 89.8 m | 95.8 m | 101.4 m | 103.5 m | 112.8 m |
| Gross profit | 353.6 m | 360.1 m | 392.1 m | 404.1 m | 419.6 m | 430.3 m | 451.1 m | 467.2 m |
| Research & development | 98.3 m | 103.3 m | 108.2 m | 115.0 m | 120.6 m | 130.6 m | 136.0 m | 132.2 m |
| Operating income | 47.5 m | 42.9 m | 62.3 m | 73.0 m | 72.7 m | 37.3 m | 71.5 m | 95.6 m |
| Interest expense | 300.0 k | 200.0 k | 200.0 k | 200.0 k | 200.0 k | 100.0 k | 200.0 k | 700.0 k |
| Pre-tax income | 57.1 m | 55.7 m | 81.4 m | 87.1 m | 84.5 m | 46.8 m | 80.8 m | 107.0 m |
| Income tax | -304.6 m | 16.4 m | 33.4 m | 29.9 m | 44.4 m | 29.4 m | 44.2 m | 39.2 m |
| Net income | 361.8 m | 39.3 m | 48.0 m | 57.2 m | 40.1 m | 17.4 m | 36.7 m | 67.8 m |
| Diluted EPS | 1.19 | 0.13 ≈ | 0.16 | 0.19 | 0.13 | 0.06 ≈ | 0.12 | 0.23 |
| Operating cash flow | 42.2 m ≈ | 162.8 m | 269.7 m | 32.0 m ≈ | 33.8 m ≈ | 226.4 m | 306.2 m | 41.1 m ≈ |
| Capex | 4.7 m ≈ | 14.6 m | 7.5 m | 4.2 m ≈ | 6.5 m ≈ | 14.0 m | 3.2 m | 5.1 m ≈ |
| Share repurchases | — | — | 45.0 m | 50.0 m ≈ | — | — | 275.5 m | 247.4 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 36 percentile of its own 25-quarter history (min 29.0, median 104.4, max 371.1; quarters with earnings only).
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 431.0 m | 545.8 m | 703.5 m | 929.4 m | 1.2 bn | 1.4 bn | 1.7 bn | 2.0 bn |
| Revenue YoY | +8.3% | +26.6% | +28.9% | +32.1% | +24.6% | +23.5% | +18.7% | +18.8% |
| Net income | -116.2 m | -413.8 m | 75.7 m | 52.5 m | 108.0 m | 154.6 m | 483.7 m | 162.7 m |
| Net income YoY | −1,360.0% | unavailable | unavailable | −30.7% | +105.8% | +43.2% | +212.8% | −66.4% |
| Diluted EPS | unavailable | -1.56 | 0.26 | 0.18 | 0.37 | 0.52 | 1.59 | 0.54 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | −30.8% | +105.6% | +40.5% | +205.8% | −66.0% |
| net % | -27.0% | -75.8% | 10.8% | 5.6% | 9.3% | 10.8% | 28.5% | 8.1% |
| Free cash flow | 139.8 m | -162.2 m | 206.4 m | 233.2 m | 333.3 m | 351.7 m | 433.3 m | 529.7 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 31 Mar 2026
- Cash
- 1.1 bn USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 2.6 bn USD
- Total assets
- 4.4 bn USD
- Debt / equity
- unavailable
- Current ratio
- 1.35x
- ROE
- 6.2%
- ROA
- 3.8%
- FCF margin
- 26.2%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 703.5 m | 929.4 m | 1.2 bn | 1.4 bn | 1.7 bn | 2.0 bn | SEC (XBRL)· 20 May 2026verified |
| Cost of revenue | 127.7 m | 172.9 m | 222.9 m | 266.5 m | 320.2 m | 372.2 m | SEC (XBRL)· 20 May 2026verified |
| Gross profit | 575.8 m | 756.6 m | 935.6 m | 1.2 bn | 1.4 bn | 1.6 bn | SEC (XBRL)· 20 May 2026verified |
| Research & development | 111.4 m | 156.3 m | 218.3 m | 304.7 m | 384.6 m | 474.3 m | SEC (XBRL)· 20 May 2026verified |
| Operating income | 91.9 m | 81.3 m | 92.8 m | 128.4 m | 179.4 m | 245.4 m | SEC (XBRL)· 20 May 2026verified |
| Depreciation & amortisation | 9.0 m | 10.6 m | 12.5 m | — | — | — | SEC (XBRL)· 25 May 2023verified |
| EBITDA | 100.9 m ≈ | 91.9 m ≈ | 105.3 m ≈ | — | — | — | SEC (XBRL)· 25 May 2023derived |
| Interest expense | 14.2 m | 10.4 m | 8.6 m | 1.4 m | 1.0 m | 800.0 k | SEC (XBRL)· 20 May 2026verified |
| Pre-tax income | 77.9 m | 71.7 m | 90.0 m | 154.9 m | 223.4 m | 299.8 m | SEC (XBRL)· 20 May 2026verified |
| Income tax | 2.1 m | 19.2 m | -18.0 m | 283.0 k | -260.3 m | 137.1 m | SEC (XBRL)· 20 May 2026verified |
| Net income | 75.7 m | 52.5 m | 108.0 m | 154.6 m | 483.7 m | 162.7 m | SEC (XBRL)· 20 May 2026verified |
| Diluted EPS | 0.26 | 0.18 | 0.37 | 0.52 | 1.59 | 0.54 | SEC (XBRL)· 20 May 2026verified |
| Weighted average diluted shares | 286.5 m | 290.9 m | 291.6 m | 299.3 m | 303.6 m | 303.7 m | SEC (XBRL)· 20 May 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 325.0 m | 463.0 m | 555.3 m | 779.0 m | 1.0 bn | 1.1 bn | SEC (XBRL)· 20 May 2026verified |
| Receivables | 242.1 m | 350.7 m | 442.5 m | 602.7 m | 624.4 m | 710.2 m | SEC (XBRL)· 20 May 2026verified |
| Current assets | 680.3 m | 948.4 m | 1.1 bn | 1.6 bn | 1.9 bn | 2.1 bn | SEC (XBRL)· 20 May 2026verified |
| Property, plant & equipment, net | 36.9 m | 45.3 m | 53.6 m | 53.3 m | 61.5 m | 73.0 m | SEC (XBRL)· 20 May 2026verified |
| Goodwill | 1.3 bn | 1.3 bn | 1.3 bn | 1.3 bn | 1.3 bn | 1.4 bn | SEC (XBRL)· 20 May 2026verified |
| Intangibles (excl. goodwill) | 149.5 m | 105.7 m | 63.6 m | 51.0 m | 25.5 m | 22.9 m | SEC (XBRL)· 20 May 2026verified |
| Total assets | 2.3 bn | 2.5 bn | 2.8 bn | 3.4 bn | 4.1 bn | 4.4 bn | SEC (XBRL)· 20 May 2026verified |
| Accounts payable | 9.6 m | 22.7 m | 22.0 m | 21.4 m | 27.3 m | 2.7 m | SEC (XBRL)· 20 May 2026verified |
| Short-term debt | 0 | 0 | — | — | — | — | SEC (XBRL)· 26 May 2022verified |
| Long-term debt | 391.9 m | 273.9 m | 0 | — | — | — | SEC (XBRL)· 25 May 2023verified |
| Current liabilities | 647.9 m | 865.6 m | 1.0 bn | 1.3 bn | 1.4 bn | 1.6 bn | SEC (XBRL)· 20 May 2026verified |
| Total liabilities | 1.1 bn | 1.2 bn | 1.2 bn | 1.4 bn | 1.5 bn | 1.8 bn | SEC (XBRL)· 20 May 2026verified |
| Equity | 1.1 bn † | 1.3 bn † | 1.6 bn † | 2.0 bn † | 2.6 bn † | 2.6 bn † | SEC (XBRL)· 20 May 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 220.4 m | 250.9 m | 354.9 m | 378.1 m | 459.4 m | 561.9 m | SEC (XBRL)· 20 May 2026verified |
| Capex | 14.1 m | 17.7 m | 21.5 m | 26.5 m | 26.1 m | 32.2 m | SEC (XBRL)· 20 May 2026verified |
| Free cash flow | 206.4 m ≈ | 233.2 m ≈ | 333.3 m ≈ | 351.7 m ≈ | 433.3 m ≈ | 529.7 m ≈ | SEC (XBRL)· 20 May 2026derived |
| Investing cash flow | -13.9 m | -30.9 m | -21.5 m | -193.0 m | -69.3 m | -15.7 m | SEC (XBRL)· 20 May 2026verified |
| Financing cash flow | -97.8 m | -80.7 m | -232.3 m | 50.7 m | -151.6 m | -474.1 m | SEC (XBRL)· 20 May 2026verified |
| Share repurchases | — | — | 0 | 0 | 172.6 m | 478.7 m | SEC (XBRL)· 20 May 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 13.4 bn USD
Key indicators
Coverage and freshness
Score by group
77% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/Salesunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 81.0% | 100 (on a fixed band) | 14% |
| EBIT margin · Quality | 12.7% | 56 (vs peers) | 11% |
| FCF margin · Quality | 26.5% | 100 (on a fixed band) | 11% |
| Revenue CAGR 3Y · Growth | 20.3% | 81 (on a fixed band) | 22% |
| Revenue growth (YoY) · Growth | 18.8% | 72 (vs peers) | 11% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 2.1x | 76 (on a fixed band) | 8% |
| EV/Sales · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 4.3% | 86 (on a fixed band) | 17% |
| Shareholder yield (distributions) · Returns | 6.8% | 100 (on a fixed band) | 6% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial76/100 · 1/2 factors with a value
- Growth78/100 · 2/2 factors with a value
- Quality86/100 · 3/3 factors with a value
- Returns100/100 · 1/1 factors with a value
- Valuation· partial86/100 · 1/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Dynatrace, Inc. (DT). Latest full fiscal year: 2026; data up to 2026-09-30.
Figures computed from the financial statements: revenue 2.0 bn USD in 2026; YoY growth 18.8%; net margin 7.4%; ROE 6.4%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Gross margin: 81.0%
- FCF margin: 26.5%
- Revenue CAGR 3Y: 20.3%
- Revenue growth (YoY): 18.8%
- Current ratio: 2.1x
- FCF yield: 4.3%
- Shareholder yield (distributions): 6.8%
What contradicts it
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, EV/Sales.
Versus the vertical median
Services-Prepackaged Software (SIC 7372) · same industry (4-digit SIC) · compared with 18 companies
Only companies with a capitalisation between 2.3 bn and 146.5 bn (within 8× of the company's); 203 of the vertical were left out.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| SNOWSnowflake Inc. | 102.5 bn | — | -48.2% | -20.1% | +29.2% | +16% / +55% |
| ADBEAdobe Inc. | 96.7 bn | 13.9 | 61.9% | 28.0% | +10.5% | −22% / −59% |
| INTUIntuit Inc. | 95.3 bn | 21.7 | 23.6% | 21.3% | +13.9% | −44% / −38% |
| CDNSCadence Design Systems, Inc. | 90.4 bn | 65.5 | 22.9% | 22.5% | +14.1% | +6% / +21% |
| SNPSSynopsys Inc | 88.7 bn | 81.8 | 3.7% | 11.4% | +15.1% | +11% / −15% |
| ADSKAutodesk, Inc. | 56.4 bn | 35.0 | 53.9% | 21.1% | +17.5% | −11% / +24% |
| VEEVVeeva Systems Inc. | 50.3 bn | 50.8 | 14.4% | 29.3% | +16.3% | +29% / +78% |
| TTWOTake-Two Interactive Software, Inc. | 39.1 bn | — | -9.0% | -4.8% | +18.2% | −15% / +32% |
| RBLXRoblox Corporation | 35.3 bn | — | -478.2% | -16.5% | +35.8% | −48% / +25% |
| TWLOTwilio Inc. | 33.0 bn | 26.8 | 14.9% | 21.8% | +13.7% | +65% / +230% |
| MDBMongodb, Inc. | 26.5 bn | 449.1 | 2.0% | 2.1% | +22.8% | −1% / −21% |
| PTCPTC Inc. | 21.2 bn | 19.0 | 35.1% | 41.4% | +19.2% | +11% / +24% |
| UUnity Software Inc. | 18.7 bn | — | -18.9% | -29.0% | +2.0% | −0% / +44% |
| SSNCSs&C Technologies Holdings, Inc. | 18.7 bn | 22.9 | 12.7% | 13.2% | +6.6% | −7% / +41% |
| NTNXNutanix, Inc. | 17.2 bn | 12.3 | 37,460.2% | 52.8% | +12.4% | +33% / +48% |
| TYLTyler Technologies, Inc. | 16.8 bn | 53.3 | 10.5% | 13.5% | +9.1% | −10% / +4% |
| DOCUDocusign, Inc. | 15.0 bn | 49.1 | 17.8% | 9.8% | +8.2% | +16% / +87% |
| GWREGuidewire Software, Inc. | 14.0 bn | 104.7 | 10.5% | 9.4% | +22.7% | −21% / +71% |
| DTDynatrace, Inc. | 13.4 bn | 87.0 | 6.4% | 7.4% | +18.8% | −6% / −2% |
1- and 3-year price returns: for DT from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 32.06 Total return -31% · Per year -31% | 56.42 Total return 21% · Per year 21% | 84.63 Total return 81% · Per year 81% |
| 3 years | 38.03 Total return -19% · Per year -7% | 74.62 Total return 60% · Per year 17% | 121.87 Total return 161% · Per year 38% |
| 5 years | 45.11 Total return -4% · Per year -1% | 98.68 Total return 111% · Per year 16% | 175.49 Total return 275% · Per year 30% |
- Exit P/E± 18.65
- Net margin± 13.06
- Annual revenue growth± 9.74
- Annual dilution± 1.10
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 8-K (03 Nov 2026 · results), 10-Q (03 Nov 2026).
In brief
Dynatrace (DT) is an observability and runtime security platform with total revenue of 2,018 million USD in fiscal 2026 1. In the first quarter of fiscal 2027 revenue reached 555 million USD, up 16% 2, and the company exceeded the high end of its guidance 3.
SWOT
Strengths
- The unified platform with a common data layer and dependency mapping differentiates it from fragmented toolchains 1. The company delivered solid results in the latest quarter and exceeded guidance 3.
- Relationships with major cloud providers and global integrators extend commercial reach 1. The flexible subscription model can drive consumption within existing customers 1.
- Gartner has named the company a Leader for many consecutive years, supporting market credibility 3.
Weaknesses
- The company relies on a small number of channel partners, one of which accounted for a significant share of revenue 1. This concentration could create vulnerability if that relationship changes.
- Revenue growth has slowed compared with earlier periods, and currency effects have lowered recent guidance 23.
- GAAP results are well below non-GAAP results, reflecting high share-based compensation costs 1.
Opportunities
- AI adoption and agentic workloads could create new demand for observability and automation 1. Expansion into less penetrated international markets could grow the customer base 1.
- Log consumption is growing quickly and could become a major revenue driver if the trend holds 3.
- Deeper partnerships with cloud providers could bring digital transformation projects earlier in the buying cycle 1.
Threats
- Larger competitors with more resources could reduce market share or press prices 1. Recent industry deals could strengthen those rivals 1.
- Generic AI-based solutions could in some cases replace specialized platforms 1.
- An uncertain macroeconomic and currency environment could lengthen sales cycles and reduce contract sizes 2.
Risks
- Dependence on AI-driven observability demandhigh
If demand for AI-based observability and analytics does not grow as the company expects, revenue growth could slow 1.
- Competition from large platformshigh
Competitors with greater resources or bundled products could reduce market share and affect margins 1.
- Channel concentrationmedium
One channel partner accounted for a significant share of revenue, and changes in that relationship could affect sales 1.
- Currency exposuremedium
Currency fluctuations reduced ARR and revenue in the updated guidance, and the effect could continue 3.
- Change in finance leadershiplow
The chief financial officer will resign by the end of the current fiscal year and the company has started a search, which could create a transition period 3.
Investment thesis
What would need to be true (bull case)
- If ARR growth accelerates and log consumption keeps rising quickly, the company could return to a stronger growth trajectory 23.
- Non-GAAP margins and free cash flow are solid, and share repurchases signal confidence in the growth plan 23.
- Partnerships with cloud providers and integrators could widen access to large customers, and the AI platform could provide a competitive edge 1.
What would break the thesis
- If large competitors keep consolidating and offering bundled products, Dynatrace could lose market share or need to cut prices 1.
- If currency effects and macroeconomic uncertainty persist, guidance could be lowered again 3.
- Changing the finance chief during a growth phase could slow execution if the transition is poorly managed 3.
What to watch
- Evolution of ARR and net new organic ARR growthQ2 2027
- Revenue and ARR guidance for fiscal 2027Q2 2027
- Appointment of a new chief financial officer2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 8-K (03 Nov 2026 · results), 10-Q (03 Nov 2026).
The business
Dynatrace combines broad and deep observability, continuous runtime application security and agentic AI operations for IT operations, development, security and business teams 1. The Grail data lakehouse stores all observability data types, and the Smartscape technology maps dependencies across applications, infrastructure and services 1. The company had approximately 4,100 customers in over 110 countries as of March 31, 2026 1.
The Dynatrace Platform Subscription model requires a minimum annual spend commitment at platform level, consumed based on actual usage and a transparent rate card 1. Most customers use the SaaS solution, while some run the platform on their own infrastructure 1. Sales go through a global direct team targeting the largest 15,000 companies, and through a partner network including global system integrators and cloud providers 1.
Segments
Market context
The company targets markets such as AI observability, log management and analytics, cloud observability, application security and business analytics 1. Demand could grow if enterprises expand cloud workloads and AI adoption, but demand dynamics are hard to predict 1. Competitive pressure is high, with a relatively low barrier to entry in some segments 1.
Macroeconomic conditions, tariffs, currency fluctuations and customer spending cycles can affect transaction sizes and sales cycle length 2. The company has seen resilience in its industry, but an uncertain environment could slow new purchases 2. ARR is also sensitive to exchange rates, with guidance including a currency headwind 3.
Trends
- AI adoption and agentic workloadstailwind
Growing AI adoption and agentic workloads could create demand for observability and automation, and Dynatrace has launched Dynatrace Intelligence 1. The company has also extended its offering for AI-first teams 3.
- Competitive pressure from generic AIheadwind
Generic LLM-based solutions and platforms where large vendors bundle monitoring products could reduce demand or pricing 1. Recent industry deals show large players consolidating the market 1.
- Macroeconomic and currency environmentmixed
Tariffs, trade policies and currency fluctuations can affect customer budgets and reported results 2. ARR guidance was reduced for currency effects, so reported growth could come in below constant currency growth 3.
Competitive position
Competition comes from infrastructure monitoring, APM, log management, digital experience, security vendors and cloud providers 1. Many competitors have stronger brands, bigger budgets or can bundle products 1. Some large companies may build in-house solutions, sometimes based on open source 1.
Cisco acquired Splunk in 2024 and Palo Alto Networks acquired Chronosphere in 2026, showing market consolidation 1. If a competitor strengthens its ties with major cloud providers, Dynatrace's position could be affected 1.
- Splunk (Cisco)CSCO
Acquired by Cisco in 2024 and competes in log management and observability 1.
- Chronosphere (Palo Alto Networks)PANW
Acquired by Palo Alto Networks in 2026, a competitor in cloud-native observability 1.
- Cloud providers with native monitoring tools
Point solutions from major cloud providers compete with Dynatrace on some capabilities 1.
- In-house built solutions
Large customers can build their own solutions, sometimes free, based on AI and open source 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- AI Agents Create Their Own Monitoring Problem. Datadog and Dynatrace Are Racing to Own ItYahoo Finance — News · 12 Sept 2026 · EN
- Xerox, Dynatrace, and 2 More Stocks See Action From Activist InvestorsYahoo Finance — News · 11 Sept 2026 · EN
- Dynatrace Stock Rapidly Approaches Buy Point After Earnings Gap-UpYahoo Finance — News · 04 Sept 2026 · EN
- Dynatrace Gaining on Strong Earnings, Raised GuidanceYahoo Finance — News · 04 Sept 2026 · EN
- Here Are Tuesday’s Top Wall Street Analyst Research Calls: Advanced Micro Devices, Dynatrace, Five Below, Fortune Brands, Klarna Group, Jersey Mike’s Subs, Moderna, Sherwin-Williams, and MoreYahoo Finance — News · 25 Aug 2026 · EN
The latest news item in our archive is from 12 Sept 2026; the newest SEC filing is from 03 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report03 Nov 2026
- Current report03 Nov 2026Results of operations · Other events · Financial statements and exhibits
- Current report25 Sept 2026Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Current report27 Aug 2026Shareholder vote · Financial statements and exhibits
- Current report20 Aug 2026Material agreement · Termination of a material agreement · Creation of a direct financial obligation · Item 3.02 · Other events · Financial statements and exhibits
- Quarterly report05 Aug 2026
- Current report05 Aug 2026Results of operations · Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report29 Jul 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Proxy statement10 Jul 2026
- Current report01 Jul 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2026-03-31 · SEC / Dynatrace, Inc. · 20 May 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Dynatrace, Inc. · 05 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Dynatrace, Inc. · 05 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.