Dynatrace, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data Dynatrace, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	398	431	546	704	929	1,159	1,431	1,699	2,018
Cost of revenue	96.5	107	129	128	173	223	266	320	372
Gross profit	302	324	417	576	757	936	1,164	1,378	1,646
Research and development	58.3	76.8	119	111	156	218	305	385	474
Selling and marketing	145	179	266	245	362	448	534	606	690
General and administrative	64.1	91.8	162	92.2	127	150	174	195	217
Operating expenses	323	397	589	484	675	843	1,036	1,199	1,401
Operating income	-21.8	-72.7	-172	91.9	81.3	92.8	128	179	245
Interest expense	35.2	69.8	45.4	14.2	10.4	8.6	1.4	1	0.8
Other non-operating income	5.2	2.64	-1.2	0.16	0.54	0.57	-10.8	-4.29	6.64
Pre-tax income	-51.8	-140	-219	77.9	71.7	90	155	223	300
Income tax	-61	-23.7	195	2.14	19.2	-18	0.28	-260	137
Net income	9.22	-116	-414	75.7	52.5	108	155	484	163
EBITDA	-13	-65.4	-164	101	91.9	105	144	199	264
EPS, basic			-1.56	0.27	0.18	0.38	0.53	1.62	0.54
EPS, diluted			-1.56	0.26	0.18	0.37	0.52	1.59	0.54
Shares, basic (weighted)			265	280	284	288	294	298	300
Shares, diluted (weighted)			265	287	291	292	299	304	304

Balance sheet

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	77.6	51.3	213	325	463	555	779	1,017	1,097
Short-term investments						0	57.9	96.2	74.9
Receivables		115	157	242	351	443	603	624	710
Other current assets		1.36	0.51	2.07	6.67	3.73	9.48	12.8	18.8
Total current assets		213	488	680	948	1,118	1,605	1,931	2,123
Property, plant and equipment		17.9	31.5	36.9	45.3	53.6	53.3	61.5	73
Lease right-of-use assets				43	58.8	68.1	61.4	67.5	139
Goodwill		1,270	1,271	1,271	1,282	1,282	1,335	1,336	1,350
Intangible assets		259	202	149	106	63.6	51	25.5	22.9
Long-term investments						0	46.4	51.6	51.9
Other non-current assets		8.76	8.13	9.93	9.62	14	24.8	40.8	33.1
Total assets		1,811	2,047	2,256	2,541	2,765	3,410	4,140	4,416
Accounts payable		6.56	11.1	9.62	22.7	22	21.4	27.3	2.73
Accrued liabilities		64.9	95	120	142	188	234	253	302
Deferred revenue		273	384	509	689	811	988	1,088	1,241
Short-term debt		9.5	0	0	0
Total current liabilities		951	490	648	866	1,037	1,259	1,381	1,569
Long-term debt		1,012	510	392	274	0
Lease liabilities				38.2	52.1	59.5	54	61.4	142
Total liabilities		2,202	1,081	1,143	1,237	1,160	1,394	1,519	1,804
Total debt		1,021	510	392	274	0
Paid-in capital		-185	1,573	1,653	1,792	1,990	2,249	2,371	2,199
Retained earnings		-176	-590	-514	-461	-353	-199	285	448
Other comprehensive income		-29.7	-18.1	-26.2	-26.7	-31.8	-35.4	-34.6	-36
Shareholders' equity	-269	-390	966	1,114	1,304	1,605	2,015	2,621	2,611
Total equity	-269	-390	966	1,114	1,304	1,605	2,015	2,621	2,611
Total liabilities and equity		1,811	2,047	2,256	2,541	2,765	3,410	4,140	4,416
Shares outstanding			281	283	286	290	297	300	295

Cash flow statement

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	9.22	-116	-414	75.7	52.5	108	155	484	163
Depreciation and amortization	8.8	7.3	7.9	9	10.6	12.5	15.5	19.2	18.4
Stock-based compensation	22.3	71.2	222	57.8	99.5	147	209	272	300
Deferred income tax	-73.4	-33.4	-46.2	-7.07	-12.7	-53.3	-59.9	-393	25.1
Change in receivables	-14.7	18	-44	-82	-109	-94.9	-162	-24	-77.1
Change in payables	26.8	34.8	53	26.6	35.9	58.7	37.9	31.5	25.9
Cash from operations	119	147	-142	220	251	355	378	459	562
Capital expenditures	-11.6	-7.38	-19.7	-14.1	-17.7	-21.5	-26.5	-26.1	-32.2
Acquisitions	-11.3	0	0	0	-13.2	0	-57.1	-0.1	-6
Purchases of investments					0	0	-104	-146	-120
Sales and maturities of investments						0	0	105
Cash from investing	-26.5	-9.25	-20.6	-13.9	-30.9	-21.5	-193	-69.3	-15.7
Debt issued	0	1,120	0	0
Debt repaid			-515	-120	-120	-281	0	0
Stock issued		0	0	13.1	25.5	32.9	31.2	21	6.49
Share buybacks	-0.89	-0.65	-0.16	-0.05	-0.07	0	0	-173	-479
Cash from financing	-75.5	-161	329	-97.8	-80.7	-232	50.7	-152	-474
Exchange rate effect	2.83	-2.68	-4.47	3.04	-1.36	-8.62	-12.1	-0.42	8.12
Net change in cash	19.6	-26.3	162	112	138	92.4	224	238	80.2
Free cash flow	107	140	-162	206	233	333	352	433	530
Interest paid	0.04	41	39.6	12.5	8.38	7.11	0.85	0.75	0.75
Income taxes paid	12.9	5.93	267	-7.34	24.2	-14.3	81.4	118	118

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $57.95 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	81.4%	Gross profit / revenue.
Operating margin	12.1%	Operating income / revenue.
EBITDA margin	13.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	14.3%	Pre-tax income / revenue.
Net margin	7.2%	Net income / revenue.
FCF margin	27.2%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	28.6%	Cash from operations / revenue.
Effective tax rate	49.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	6.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	3.7%	Net income / average total assets.
Return on invested capital (ROIC)	9.2%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	24.0%	Research and development expense / revenue.
Stock-based pay / revenue	14.4%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.3%	Capital expenditures / revenue.
D&A / revenue	0.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	18.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	20.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	23.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	19.4%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	20.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	23.4%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	36.8%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	38.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	21.7%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	32.8%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	35.8%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	21.2%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-66.4%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	14.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	16.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-66.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	13.4%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	15.7%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	22.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	16.5%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	20.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	22.2%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	16.7%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	20.7%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-0.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	17.6%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	18.6%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	6.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	16.9%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	14.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	1.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	1.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.21x	Current assets / current liabilities.
Quick ratio	1.04x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.78x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	40.4%	Total liabilities / total assets.
Working capital	$296.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	36.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	$972.2M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.51x	Revenue / average total assets.
Fixed asset turnover	29.3x	Revenue / average property, plant and equipment.
Receivables turnover	5.52x	Revenue / average receivables.
Days sales outstanding	66 days	365 x average receivables / revenue.
Days payables	7 days	365 x average accounts payable / cost of revenue.
FCF conversion	376.9%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	4.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.52	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$7.13	Revenue / diluted weighted shares.
FCF per share	$1.94	Free cash flow / diluted weighted shares.
Operating cash flow per share	$2.04	Cash from operations / diluted weighted shares.
Book value per share	$8.44	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$3.35	Tangible book value / shares outstanding.
Cash per share	$3.82	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$16.75B	Share price x shares outstanding.
Enterprise value	$15.64B	Market cap + total debt - cash - short-term investments.
P/E	111x	Market cap / net income. Only when net income is positive.
P/S	7.99x	Market cap / revenue.
P/B	6.83x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	17.2x	Market cap / tangible book value, when positive.
P/FCF	29.4x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	28.0x	Market cap / cash from operations, when positive.
EV/Sales	7.46x	Enterprise value / revenue.
EV/EBIT	61.4x	Enterprise value / operating income, when both are positive.
EV/EBITDA	57.4x	Enterprise value / EBITDA, when both are positive.
EV/FCF	27.4x	Enterprise value / free cash flow, when both are positive.
FCF yield	3.4%	Free cash flow / market cap.
Earnings yield	0.9%	Net income / market cap (the inverse of P/E).
PEG	8.24x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Dynatrace, Inc.'s revenue in fiscal 2026?

Dynatrace, Inc. reported revenue of $2.02B for fiscal 2026, 18.8% higher than the year before.

Was Dynatrace, Inc. profitable in fiscal 2026?

Yes. Net income was $162.7M, a net margin of 8.1%.

How much free cash flow did Dynatrace, Inc. generate in fiscal 2026?

Cash from operations of $561.9M minus capital expenditures of $32.2M left free cash flow of $529.7M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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