DT vs PTC: Dynatrace Holdings LLC and PTC compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- PTC is the larger company, worth $23.6B, close to Dynatrace Holdings LLC's $20.7B.
- Dynatrace Holdings LLC grew revenue faster over the last year (+16.2% vs -6.8%).
- PTC keeps more of each dollar of revenue as operating profit (37.8% vs 12.2%).
- On earnings, PTC is the cheaper stock (19.6x vs 129.9x).
- Dynatrace Holdings LLC's price assumes faster free cash flow growth: about 14% a year, against 9% for PTC (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | DT | PTC |
|---|---|---|
| Market cap | $20.7B | $23.6B |
| Share price | $63.50 | $194.45 |
| Revenue (last fiscal year) | $2.0B | $2.7B |
| Free cash flow (last fiscal year) | $529M | $857M |
| Revenue growth, last year | +16.2% | -6.8% |
| Revenue growth per year, last 5 fiscal years | +21.4% | +11.0% |
| Operating margin | 12.2% | 37.8% |
| Net margin | 7.2% | 41.4% |
| Return on equity | 6.2% | 35.3% |
| P/E (trailing) | 129.9x | 19.6x |
| Price / free cash flow | 39.2x | 27.5x |
| EV / EBITDA | 62.8x | 14.5x |
| FCF growth the price implies | 13.7% | 9.2% |
| Dividend yield | — | — |
| Debt / equity | 0.68x | 0.88x |
| Fundamental grade | D | C |
| Superinvestors holding it | 5 | 3 |
| Insider purchases, last 12 months | 1 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Dynatrace Holdings LLC
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $929M | $233M | 8.7% |
| 2023 | $1.2B | $333M | 8.0% |
| 2024 | $1.4B | $346M | 9.0% |
| 2025 | $1.7B | $431M | 10.6% |
| 2026 | $2.0B | $529M | 12.2% |
PTC
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.8B | $344M | 21.1% |
| 2022 | $1.9B | $416M | 23.1% |
| 2023 | $2.1B | $587M | 21.9% |
| 2024 | $2.3B | $736M | 25.6% |
| 2025 | $2.7B | $857M | 35.9% |
Where the revenue comes from
Dynatrace Holdings LLC · by products, 2026
Subscription$1.9B96%
Service$89M4%
PTC · by segments, 2022
Software Products$1.8B92%
Professional Services$163M8%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open DT in InvestinglyQuestions
Which is bigger, Dynatrace Holdings LLC or PTC?
PTC (PTC), at $23.6B against $20.7B.
Is DT or PTC cheaper?
By trailing P/E, PTC (19.6x) is cheaper than Dynatrace Holdings LLC (129.9x). A lower multiple can also mean the market expects less growth.
Which grows faster, DT or PTC?
Dynatrace Holdings LLC: revenue grew +16.2% over the last year, against -6.8%.
More comparisons
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.