Dynatrace, Inc. (DT) Stock

Dynatrace, Inc. (DT) is a Technology stock trading at $49.16 (as of 2026-08-20), with a market capitalization of $14.21B and a trailing P/E of 93.9. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

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Understand Dynatrace, Inc.: how it makes money

Dynatrace provides a software intelligence platform for dynamic multi-cloud environments, including application and microservices monitoring, runtime application security, infrastructure monitoring, digital experience monitoring, business analytics, and cloud automation, and it sells related implementation, consulting, and training services, earning revenue mainly from subscription.

Because subscription revenue is the core of the model, near-term results are driven by net new Annual Recurring Revenue and the size of Remaining Performance Obligations, which together shape how much recurring revenue the platform can deliver over time.

Revenue by segment (latest quarter)
Subscription$0.5B
On-demand consumption$0.0B
Services$0.0B

Business quality (Mixed): The profit model appears to be recurring and software-led, with strong gross margin and positive operating margin, and with operating momentum tied to net new Annual Recurring Revenue, net retention, and Remaining Performance Obligations.

Valuation: Trades at 75× trailing earnings · $12B market cap.

Bull case

  • Recurring revenue foundation: Subscription revenue is the largest component of revenue, supporting a software-led, recurring revenue profile.
  • Retention and forward coverage indicators: Operating KPIs include Net retention rate and Remaining Performance Obligations, which help indicate whether customers stay and how much contracted recurring revenue is likely to be recognized over time.
  • Platform breadth supports expansion: Dynatrace’s platform spans monitoring, runtime application security, infrastructure monitoring, digital experience monitoring, business analytics, and cloud automation, which can support customer adoption across multiple use cases.

Bear case

  • Growth sensitivity to ARR momentum: If Net new Annual Recurring Revenue added slows materially, it can pressure future subscription revenue growth, given the model’s reliance on recurring subscriptions.
  • Retention risk: If Net retention rate declines, revenue growth can weaken even if new logos are added, because existing customer spending would deteriorate.
  • Less recurring diversification: On-demand consumption and Service revenue are smaller components in the provided revenue mix, so swings in those lines may not fully offset weakness in subscription performance.
Valuation — source: SEC EDGAR (first-party)
Price$49.16
Market Cap$14.21B
P/E Ratio93.9
EV / EBITDA48.2
Price / Book5.80
Price / Sales6.78
FCF Yield4.0%
DCF Value (model)$60.75
DCF Upside vs Price23.6%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$2.02B
Net Margin8.1%
Return on Equity6.2%
Current Ratio1.21
Revenue Growth (YoY)16.2%
EPS Growth (YoY)-18.8%
FCF Growth (YoY)15.6%
Financial Health — source: SEC EDGAR
Altman Z-Score5.70 (safe)
Valuation vs Sector & Industry
Stock P/E93.9
Sector P/E (Technology)33.9
Industry P/E (Business Services)30.0
vs Sector176.6%
vs Industry213.4%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($1.39B)
Institutional Holders Tracked10
Congressional Trades (recent)6
Company
SectorTechnology
IndustryBusiness Services
CEORick McConnell
Employees4,700
CountryUS
IPO Date2019-08-01

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DT earnings history · DT institutional & insider holders · DT KPIs & operating metrics · DT financials · DT investor presentations & press releases · DT SEC filings · DT peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.