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Forensic Analysis · Software & SaaS · as of Nov 10, 2026

Dynatrace, Inc. (DT)

A forensic read on Dynatrace, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

C · Mixed — selective
Forensic grade
Safe
Financial health
3.0
Distress distance
Clean
Earnings quality
2
Forensic signals
6.2%
ROE
18.8%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Dynatrace, Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 3.0, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

9.1%
FY2026
Return on invested capital. Return on invested capital is 9.1% in the latest fiscal year, against 8.4% in FY2024, having run between 8.4% and 10.4% across FY2024–FY2026 with no direction held. After-tax operating profit was $116M in FY2024 and $160M in FY2026, with operating income at 9.0% of revenue in FY2024, 10.6% in FY2025 and 12.2% in FY2026. The capital base behind it grew +27% across FY2024–FY2026, from $1.4B to $1.7B, and the return did not fall doing it, so the dollars added over that window earned at least the 8.4% the older base was already earning.
90% of FCF
FY2026
Shareholder returns. Returned $479M to shareholders (buybacks + dividends) in FY2026 — 90% of free cash flow. Right at the limit of what free cash flow covers — little room before it's funded by debt or the balance sheet. That ratio has been CLIMBING toward the limit — 0% of free cash flow two years back — not just sitting there. Counting the $300M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 147%.

Key fundamentals

Latest Revenue$2.02B
Revenue Growth YoY+18.8%
Revenue CAGR (2yr)+18.8%
Net Margin8.1%
Free Cash Flow$529.5M
Return on Equity6.2%

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Data from SEC EDGAR public filings · metrics as of Nov 10, 2026. Forensic signals flag probability, not certainty.

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