Dynatrace (DT) FY2025 results: revenue $1.7 billion, up 18.7% on the year

Dynatrace, Inc. (DT) reported revenue of $1.7 billion for fiscal 2025, the year ended 31 March 2025, up 18.7% on the year before. Net income was $484 million, up 212.8%, and diluted earnings per share $1.59. The figures are the company's own, from the 10-K it filed with the SEC on 22 May 2025.

Revenue

$1.7 billion

+18.7% on the year

FY2018FY2025

Operating margin

10.6%

9.0% a year earlier

FY2018FY2025

Net income

$484 million

+212.8% on the year

FY2018FY2025

Diluted EPS

$1.59

+205.8% on the year

FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025

Income statement (profit and loss)

$ million	FY2025	FY2024	FY2023	On the year
Revenue	1,699	1,431	1,159	+18.7%
Cost of revenue	320	266	223	+20.2%
Gross profit	1,378	1,164	936	+18.4%
Gross margin	81.2%	81.4%	80.8%
Research and development	385	305	218	+26.2%
Operating income	179	128	92.8	+39.7%
Operating margin	10.6%	9.0%	8.0%
Interest expense	1.0	1.4	8.6	-28.6%
Pre-tax income	223	155	90.0	+44.2%
Income tax	-260	0.3	-18.0
Effective tax rate	-116.5%	0.2%	-20.0%
Net income	484	155	108	+212.8%
Net margin	28.5%	10.8%	9.3%
Diluted EPS	$1.59	$0.52	$0.37	+205.8%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2025	FY2024	FY2023	On the year
Operating cash flow	459	378	355	+21.5%
Capital expenditure	26.1	26.5	21.5	-1.3%
Free cash flow	433	352	333	+23.2%
Free cash flow margin	25.5%	24.6%	28.8%
Cash from investing	-69.3	-193	-21.5
Cash from financing	-152	50.7	-232
Depreciation and amortisation	48.1	54.9	12.5	-12.3%
Share-based compensation	272	209	147	+30.1%
Buybacks	173	0.0	0.0
Diluted shares, weighted	304m	299m	292m	+1.4%
Shares outstanding at period end	300m	297m	290m	+1.0%

Balance sheet

$ million	FY2025	FY2024	FY2023	On the year
Shareholders' equity	2,621	2,015	1,605	+30.1%
Debt	0.0	0.0	0.0
Operating lease liabilities	61.4	54.0	59.5	+13.6%
Other liabilities	1,457	1,340	1,101	+8.7%
Total liabilities and equity	4,140	3,410	2,765	+21.4%
Fixed assets	61.5	53.3	53.6	+15.4%
Goodwill	1,336	1,335	1,282	+0.1%
Intangible assets	25.5	51.0	63.6	-49.9%
Investments	148	104	0.0	+41.8%
Cash and equivalents	1,017	779	555	+30.6%
Receivables	624	603	443	+3.6%
Other assets	927	484	368	+91.5%
Total assets	4,140	3,410	2,765	+21.4%

10-K for the year ended 31 March 2025, filed 22 May 2025: the filing.