Filing Flows › Dynatrace (DT) › Takeover & LBO
Is Dynatrace (DT) a takeover target?
A leveraged buyout at today's price plus 30% ($75.00 a share) would return a loss of about 0% a year to a private-equity buyer over 5 years; no price, however low, gets a buyer to 20%. Historically 1.9% of companies with its figures were bought within a year (0.38× the average). Latest signal (2026-11-03): Dynatrace Reports Second Quarter Fiscal Year 2027 Financial Results.
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $75.00 | today's $57.69 plus 30% |
| × shares | 301.7 million | |
| = Equity value | $22.6B | |
| + Debt refinanced | $303M | |
| − Cash | $2.1B | |
| = Enterprise value | $20.8B | 68.3× EBITDA of $305M |
| Fees | $416M | 2% of the price |
| New debt | $1.7B | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $19.5B | 92% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $2.4B | $329M | $128M | $101M | $1.6B |
| Year 2 | $2.5B | $351M | $120M | $122M | $1.5B |
| Year 3 | $2.7B | $371M | $111M | $143M | $1.3B |
| Year 4 | $2.8B | $386M | $100M | $163M | $1.1B |
| Year 5 | $2.8B | $398M | $87.7M | $182M | $965M |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 51.1× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $20.3B | |
| − Debt left | $965M | |
| = Buyer's equity | $19.4B | |
| Money multiple | 0.99× | on $19.5B put in |
| Buyer's yearly return (IRR) | −0.2% |
Price against return
What the buyer makes at other premiums over today's $57.69.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $63.46 | 3.9% |
| 20% | $69.23 | 1.8% |
| 30% | $75.00 | −0.2% |
| 40% | $80.77 | −1.9% |
| 50% | $86.53 | −3.4% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $2.2B | |
| EBITDA, last 12 months | $305M | 14.0% of revenue |
| Depreciation and amortization | $27.5M | |
| Capital spending | $28.7M | |
| Debt | $303M | |
| Cash | $2.1B | |
| Share price | $57.69 | on Oct 30, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 8.0% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 30% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers in its sector paid a median premium of 30% over the share price before the deal (the middle half 12% to 31%), according to the 14 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Dynatrace would cost about $75.00 a share, $22.6B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 12% | $64.61 | $19.5B |
| Median | 30% | $75.00 | $22.6B |
| High end (a quarter paid more) | 31% | $75.57 | $22.8B |
The odds, from history
Historically 1.9% of companies with its figures were bought within a year (0.38× the average). Its figures put it in decile 1 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
Rumors and deal signals
- 2026-11-03 · 8-K deal · Dynatrace Reports Second Quarter Fiscal Year 2027 Financial Results
Dynatrace's latest quarter
Dynatrace, Q2 FY27: revenue $580M (+17% year over year), operating margin 16.5%, net earnings $67.8M, operating cash flow $41.1M. The chart follows the revenue to costs, profit and cash.
Questions
Is Dynatrace being acquired?
The latest signal on file is from 2026-11-03: Dynatrace Reports Second Quarter Fiscal Year 2027 Financial Results. A headline is not a deal; Filing Flows lists the news, 8-K filings and 13D filings about a sale.
Could private equity buy Dynatrace?
A leveraged buyout at today's price plus 30% ($75.00 a share) would return a loss of about 0% a year to a private-equity buyer over 5 years; no price, however low, gets a buyer to 20%.
What would a takeover of Dynatrace cost?
Takeovers in its sector paid a median premium of 30% over the share price before the deal (the middle half 12% to 31%), according to the 14 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Dynatrace would cost about $75.00 a share, $22.6B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.