Analysis of Profitability Ratios
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
Datadog Inc., profitability ratios
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
The profitability metrics demonstrate a significant improvement over the observed period, though with some fluctuation. Initial years show negative profitability, transitioning to positive values before experiencing a slight decline in the most recent year presented. This suggests a period of investment and scaling followed by increasing returns, and then potentially a reinvestment phase or external pressures impacting the final year.
- Gross Profit Margin
- The gross profit margin exhibits a generally positive trend, increasing from 77.23% in 2021 to 80.74% in 2023. It remains relatively stable at 80.79% in 2024 before decreasing slightly to 79.96% in 2025. This indicates consistent efficiency in managing the cost of goods sold, with a minor reduction in that efficiency in the final year.
- Operating Profit Margin
- The operating profit margin shows a marked improvement, moving from negative values of -1.86% and -3.50% in 2021 and 2022, respectively, to -1.57% in 2023. A substantial increase is then observed in 2024, reaching 2.02%, before declining to -1.29% in 2025. This suggests increasing operational efficiency and cost control, followed by a potential increase in operating expenses or a decrease in revenue in the final year.
- Net Profit Margin
- The net profit margin follows a similar pattern to the operating profit margin, transitioning from negative values of -2.02% and -2.99% in 2021 and 2022 to a positive 2.28% in 2023. It experiences significant growth in 2024, reaching 6.85%, before decreasing to 3.14% in 2025. This indicates improving overall profitability, impacted by factors beyond core operations in the final year.
- Return on Equity (ROE)
- Return on equity mirrors the trend of net profit margin, starting negative at -1.99% and -3.56% in 2021 and 2022, becoming positive at 2.40% in 2023, peaking at 6.77% in 2024, and then decreasing to 2.89% in 2025. This demonstrates increasing efficiency in generating profits from shareholder investments, with a recent moderation in that efficiency.
- Return on Assets (ROA)
- Return on assets exhibits a similar trajectory, moving from negative values of -0.87% and -1.67% in 2021 and 2022 to 1.23% in 2023, reaching 3.18% in 2024, and then declining to 1.62% in 2025. This indicates improving efficiency in utilizing assets to generate profits, with a recent decrease in asset utilization effectiveness.
The decline in operating profit margin, net profit margin, ROE, and ROA in 2025 warrants further investigation to determine the underlying causes and assess their potential impact on future performance.
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Return on Sales
Return on Investment
Gross Profit Margin
Datadog Inc., gross profit margin calculation, comparison to benchmarks
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Gross profit | 2,740,201) | 2,168,744) | 1,718,451) | 1,328,357) | 794,539) | |
| Revenue | 3,427,158) | 2,684,275) | 2,128,359) | 1,675,100) | 1,028,784) | |
| Profitability Ratio | ||||||
| Gross profit margin1 | 79.96% | 80.79% | 80.74% | 79.30% | 77.23% | |
| Benchmarks | ||||||
| Gross Profit Margin, Competitors2 | ||||||
| Accenture PLC | 31.91% | 32.61% | 32.34% | 31.99% | 32.38% | |
| Adobe Inc. | 89.27% | 89.04% | 87.87% | 87.70% | 88.18% | |
| AppLovin Corp. | 87.86% | 75.22% | 67.74% | 55.41% | 64.62% | |
| Cadence Design Systems Inc. | 86.36% | 86.05% | 89.36% | 89.57% | 89.73% | |
| CrowdStrike Holdings Inc. | 74.92% | 75.27% | 73.17% | 73.60% | 73.75% | |
| International Business Machines Corp. | 58.19% | 56.65% | 55.45% | 54.00% | 54.90% | |
| Intuit Inc. | 79.57% | 78.72% | 78.13% | 81.09% | 82.53% | |
| Microsoft Corp. | 68.82% | 69.76% | 68.92% | 68.40% | 68.93% | |
| Oracle Corp. | 70.51% | 71.41% | 72.85% | 79.08% | 80.59% | |
| Palantir Technologies Inc. | 82.37% | 80.25% | 80.62% | 78.56% | 77.99% | |
| Palo Alto Networks Inc. | 73.41% | 74.35% | 72.29% | 68.76% | 70.05% | |
| Salesforce Inc. | 77.19% | 75.50% | 73.34% | 73.48% | 74.41% | |
| ServiceNow Inc. | 77.53% | 79.18% | 78.59% | 78.29% | 77.05% | |
| Synopsys Inc. | 76.98% | 79.68% | 79.08% | 79.07% | 79.50% | |
| Workday Inc. | 75.50% | 75.60% | 72.41% | 72.21% | 72.25% | |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
1 2025 Calculation
Gross profit margin = 100 × Gross profit ÷ Revenue
= 100 × 2,740,201 ÷ 3,427,158 = 79.96%
2 Click competitor name to see calculations.
The gross profit margin demonstrates a generally positive trend over the observed period, with a slight decrease in the most recent year. Gross profit increased consistently from 2021 to 2025, rising from US$794,539 thousand to US$2,740,201 thousand. Revenue also exhibited consistent growth, increasing from US$1,028,784 thousand to US$3,427,158 thousand during the same timeframe.
- Gross Profit Margin Trend
- The gross profit margin began at 77.23% in 2021 and increased to 80.79% in 2024. This indicates improving efficiency in managing the cost of goods sold relative to revenue. However, the margin experienced a slight decline to 79.96% in 2025, suggesting a potential moderation in cost control or a shift in revenue mix.
- Year-over-Year Changes
- From 2021 to 2022, the gross profit margin increased by 2.07 percentage points. The increase from 2022 to 2023 was 1.44 percentage points, and from 2023 to 2024, it was 0.05 percentage points. The decrease from 2024 to 2025 was 0.83 percentage points. The rate of increase slowed over time before the final year’s decrease.
- Implications of Margin Stability
- The sustained high gross profit margin between 2022 and 2024 suggests a strong ability to maintain pricing power and/or control production costs. The slight decrease in 2025 warrants further investigation to determine the underlying cause and assess its potential impact on future profitability. Continued monitoring of both gross profit and revenue is recommended to understand the drivers behind this change.
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Operating Profit Margin
Datadog Inc., operating profit margin calculation, comparison to benchmarks
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Operating income (loss) | (44,373) | 54,284) | (33,464) | (58,695) | (19,156) | |
| Revenue | 3,427,158) | 2,684,275) | 2,128,359) | 1,675,100) | 1,028,784) | |
| Profitability Ratio | ||||||
| Operating profit margin1 | -1.29% | 2.02% | -1.57% | -3.50% | -1.86% | |
| Benchmarks | ||||||
| Operating Profit Margin, Competitors2 | ||||||
| Accenture PLC | 14.68% | 14.79% | 13.74% | 15.21% | 15.08% | |
| Adobe Inc. | 36.63% | 31.35% | 34.26% | 34.64% | 36.76% | |
| AppLovin Corp. | 75.75% | 39.78% | 19.74% | -1.70% | 5.37% | |
| Cadence Design Systems Inc. | 28.17% | 29.10% | 30.59% | 30.15% | 26.07% | |
| CrowdStrike Holdings Inc. | -3.05% | -0.07% | -8.48% | -9.82% | -10.58% | |
| International Business Machines Corp. | 17.50% | 14.95% | 15.17% | 13.50% | 11.97% | |
| Intuit Inc. | 26.14% | 22.29% | 21.86% | 20.20% | 25.95% | |
| Microsoft Corp. | 45.62% | 44.64% | 41.77% | 42.06% | 41.59% | |
| Oracle Corp. | 30.80% | 28.99% | 26.21% | 25.74% | 37.58% | |
| Palantir Technologies Inc. | 31.59% | 10.83% | 5.39% | -8.46% | -26.66% | |
| Palo Alto Networks Inc. | 13.48% | 8.52% | 5.62% | -3.43% | -7.15% | |
| Salesforce Inc. | 19.01% | 14.38% | 3.29% | 2.07% | 2.14% | |
| ServiceNow Inc. | 13.74% | 12.42% | 8.49% | 4.90% | 4.36% | |
| Synopsys Inc. | 12.97% | 22.13% | 21.72% | 22.87% | 17.48% | |
| Workday Inc. | 4.91% | 2.52% | -3.57% | -2.27% | -5.76% | |
| Operating Profit Margin, Sector | ||||||
| Software & Services | 32.45% | 30.31% | 27.20% | 27.08% | 27.93% | |
| Operating Profit Margin, Industry | ||||||
| Information Technology | 30.87% | 26.60% | 24.42% | 26.32% | 26.64% | |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
1 2025 Calculation
Operating profit margin = 100 × Operating income (loss) ÷ Revenue
= 100 × -44,373 ÷ 3,427,158 = -1.29%
2 Click competitor name to see calculations.
The operating profit margin exhibited significant fluctuation over the five-year period. Initially negative, it experienced a period of improvement before declining again.
- Operating Profit Margin Trend
- In 2021, the operating profit margin was -1.86%. This metric deteriorated to -3.50% in 2022, indicating a widening loss relative to revenue. A moderate recovery was observed in 2023, with the margin improving to -1.57%. This positive trend continued into 2024, where the company achieved a positive operating profit margin of 2.02%, representing a substantial shift in profitability. However, this improvement proved unsustainable, as the margin decreased to -1.29% in 2025.
The volatility in the operating profit margin suggests potential challenges in maintaining consistent profitability. The substantial swing from a loss in 2022 to a profit in 2024, followed by a return to a loss in 2025, warrants further investigation into the underlying drivers of operating income and revenue.
- Relationship to Operating Income
- The operating profit margin’s movement closely mirrors the trend in operating income. Negative operating income in 2021, 2022, 2023, and 2025 directly resulted in negative operating profit margins. The positive margin in 2024 corresponds with the positive operating income reported for that year.
The increasing revenue throughout the period did not consistently translate into improved operating profitability, as evidenced by the fluctuating margin. This indicates that while the company is growing its top line, its ability to control operating costs and generate profit from its revenue is inconsistent.
- Magnitude of Change
- The largest single-year change in operating profit margin occurred between 2023 and 2024, with an increase of 3.59 percentage points. The most significant decline was observed between 2024 and 2025, with a decrease of 3.31 percentage points. These substantial shifts highlight the sensitivity of the operating profit margin to changes in operating income.
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Net Profit Margin
Datadog Inc., net profit margin calculation, comparison to benchmarks
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net income (loss) | 107,741) | 183,746) | 48,568) | (50,160) | (20,745) | |
| Revenue | 3,427,158) | 2,684,275) | 2,128,359) | 1,675,100) | 1,028,784) | |
| Profitability Ratio | ||||||
| Net profit margin1 | 3.14% | 6.85% | 2.28% | -2.99% | -2.02% | |
| Benchmarks | ||||||
| Net Profit Margin, Competitors2 | ||||||
| Accenture PLC | 11.02% | 11.19% | 10.72% | 11.17% | 11.69% | |
| Adobe Inc. | 30.00% | 25.85% | 27.97% | 27.01% | 30.55% | |
| AppLovin Corp. | 60.83% | 33.55% | 10.87% | -6.84% | 1.27% | |
| Cadence Design Systems Inc. | 20.94% | 22.74% | 25.46% | 23.84% | 23.29% | |
| CrowdStrike Holdings Inc. | -0.49% | 2.92% | -8.18% | -16.18% | -10.59% | |
| International Business Machines Corp. | 15.69% | 9.60% | 12.13% | 2.71% | 10.01% | |
| Intuit Inc. | 20.55% | 18.19% | 16.59% | 16.23% | 21.41% | |
| Microsoft Corp. | 36.15% | 35.96% | 34.15% | 36.69% | 36.45% | |
| Oracle Corp. | 21.68% | 19.76% | 17.02% | 15.83% | 33.96% | |
| Palantir Technologies Inc. | 36.31% | 16.13% | 9.43% | -19.61% | -33.75% | |
| Palo Alto Networks Inc. | 12.30% | 32.11% | 6.38% | -4.85% | -11.72% | |
| Salesforce Inc. | 16.35% | 11.87% | 0.66% | 5.45% | 19.16% | |
| ServiceNow Inc. | 13.16% | 12.97% | 19.30% | 4.49% | 3.90% | |
| Synopsys Inc. | 18.89% | 36.94% | 21.05% | 19.38% | 18.02% | |
| Workday Inc. | 6.23% | 19.02% | -5.90% | 0.57% | -6.54% | |
| Net Profit Margin, Sector | ||||||
| Software & Services | 26.02% | 24.71% | 21.78% | 21.43% | 25.04% | |
| Net Profit Margin, Industry | ||||||
| Information Technology | 25.77% | 20.64% | 20.33% | 22.35% | 23.54% | |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
1 2025 Calculation
Net profit margin = 100 × Net income (loss) ÷ Revenue
= 100 × 107,741 ÷ 3,427,158 = 3.14%
2 Click competitor name to see calculations.
The net profit margin exhibited significant fluctuations over the five-year period. Initially negative, it transitioned to positive values, peaking in 2024 before declining again in 2025. This suggests evolving profitability dynamics within the company.
- Net Profit Margin Trend
- In 2021 and 2022, the net profit margin was negative, registering at -2.02% and -2.99% respectively. This indicates that the company incurred net losses relative to its revenue during these years. The margin worsened from 2021 to 2022.
- A substantial improvement occurred in 2023, with the net profit margin turning positive at 2.28%. This signifies a shift towards profitability, although the margin remained relatively modest.
- The most significant increase in net profit margin was observed in 2024, reaching 6.85%. This represents a considerable enhancement in profitability, suggesting improved operational efficiency or pricing strategies.
- However, the net profit margin decreased in 2025 to 3.14%, despite continued revenue growth. This decline warrants further investigation to determine the underlying causes, such as increased costs or changes in revenue mix.
The progression from net losses to substantial profits, followed by a subsequent decline, highlights the dynamic nature of the company’s profitability. While revenue consistently increased throughout the period, the net profit margin’s performance indicates that revenue growth does not automatically translate into proportional profit gains. The decrease in the net profit margin in the most recent year, despite increased revenue, suggests potential challenges in maintaining profitability as the company scales.
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Return on Equity (ROE)
Datadog Inc., ROE calculation, comparison to benchmarks
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net income (loss) | 107,741) | 183,746) | 48,568) | (50,160) | (20,745) | |
| Stockholders’ equity | 3,732,206) | 2,714,363) | 2,025,354) | 1,410,505) | 1,041,203) | |
| Profitability Ratio | ||||||
| ROE1 | 2.89% | 6.77% | 2.40% | -3.56% | -1.99% | |
| Benchmarks | ||||||
| ROE, Competitors2 | ||||||
| Accenture PLC | 24.61% | 25.68% | 26.75% | 31.11% | 30.25% | |
| Adobe Inc. | 61.34% | 39.42% | 32.86% | 33.85% | 32.59% | |
| AppLovin Corp. | 156.17% | 144.96% | 28.39% | -10.13% | 1.66% | |
| Cadence Design Systems Inc. | 20.26% | 22.58% | 30.58% | 30.93% | 25.39% | |
| CrowdStrike Holdings Inc. | -0.59% | 3.88% | -12.52% | -22.89% | -10.64% | |
| International Business Machines Corp. | 32.45% | 22.06% | 33.29% | 7.47% | 30.38% | |
| Intuit Inc. | 19.63% | 16.07% | 13.81% | 12.57% | 20.89% | |
| Microsoft Corp. | 29.65% | 32.83% | 35.09% | 43.68% | 43.15% | |
| Oracle Corp. | 60.84% | 120.26% | 792.45% | — | 262.43% | |
| Palantir Technologies Inc. | 22.00% | 9.24% | 6.04% | -14.57% | -22.71% | |
| Palo Alto Networks Inc. | 14.49% | 49.86% | 25.15% | -127.14% | -78.63% | |
| Salesforce Inc. | 10.13% | 6.93% | 0.36% | 2.48% | 9.81% | |
| ServiceNow Inc. | 13.48% | 14.83% | 22.69% | 6.46% | 6.22% | |
| Synopsys Inc. | 4.70% | 25.17% | 20.01% | 17.85% | 14.31% | |
| Workday Inc. | 5.82% | 17.09% | -6.57% | 0.65% | -8.62% | |
| ROE, Sector | ||||||
| Software & Services | 26.75% | 28.69% | 28.33% | 30.61% | 35.77% | |
| ROE, Industry | ||||||
| Information Technology | 34.76% | 29.36% | 31.85% | 38.86% | 42.21% | |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
1 2025 Calculation
ROE = 100 × Net income (loss) ÷ Stockholders’ equity
= 100 × 107,741 ÷ 3,732,206 = 2.89%
2 Click competitor name to see calculations.
The Return on Equity (ROE) exhibited significant fluctuations over the five-year period. Initially negative, ROE transitioned to positive values, peaking in 2024 before declining again in 2025. This movement correlates with substantial changes in net income and stockholders’ equity.
- Net Income Trend
- Net income demonstrated a volatile pattern. Losses were recorded in both 2021 and 2022, with the loss in 2022 being considerably larger than in 2021. A substantial positive shift occurred in 2023, followed by a significant increase in net income in 2024. However, net income decreased in 2025, although remaining positive.
- Stockholders’ Equity Trend
- Stockholders’ equity consistently increased throughout the period. The rate of growth accelerated from 2022 to 2024, with the largest absolute increase occurring between 2023 and 2024. The growth rate slowed in 2025, but equity continued to rise.
- ROE Analysis
- In 2021, ROE was -1.99%, reflecting a net loss relative to stockholders’ equity. This negative value persisted in 2022, declining to -3.56% as the net loss increased and equity grew. The ROE became positive in 2023, reaching 2.40% as net income turned positive. A substantial improvement was observed in 2024, with ROE increasing to 6.77%, driven by a significant rise in net income and continued growth in equity. The ROE decreased to 2.89% in 2025, despite continued positive net income and equity growth, indicating that the rate of net income growth did not keep pace with the growth in equity.
The observed fluctuations in ROE suggest a sensitivity to changes in net income. While stockholders’ equity consistently increased, the impact on ROE was heavily influenced by the profitability of the company, as demonstrated by the net income figures. The peak ROE in 2024 highlights a period of strong profitability relative to the equity base.
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Return on Assets (ROA)
Datadog Inc., ROA calculation, comparison to benchmarks
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net income (loss) | 107,741) | 183,746) | 48,568) | (50,160) | (20,745) | |
| Total assets | 6,643,844) | 5,785,339) | 3,936,072) | 3,004,852) | 2,380,794) | |
| Profitability Ratio | ||||||
| ROA1 | 1.62% | 3.18% | 1.23% | -1.67% | -0.87% | |
| Benchmarks | ||||||
| ROA, Competitors2 | ||||||
| Accenture PLC | 11.74% | 12.99% | 13.41% | 14.55% | 13.68% | |
| Adobe Inc. | 24.17% | 18.39% | 18.23% | 17.51% | 17.70% | |
| AppLovin Corp. | 45.92% | 26.92% | 6.66% | -3.30% | 0.58% | |
| Cadence Design Systems Inc. | 10.92% | 11.76% | 18.36% | 16.53% | 15.87% | |
| CrowdStrike Holdings Inc. | -0.22% | 1.34% | -3.65% | -6.49% | -3.39% | |
| International Business Machines Corp. | 6.97% | 4.39% | 5.55% | 1.29% | 4.35% | |
| Intuit Inc. | 10.47% | 9.22% | 8.58% | 7.45% | 13.29% | |
| Microsoft Corp. | 16.45% | 17.21% | 17.56% | 19.94% | 18.36% | |
| Oracle Corp. | 7.39% | 7.42% | 6.33% | 6.15% | 10.48% | |
| Palantir Technologies Inc. | 18.26% | 7.29% | 4.64% | -10.80% | -16.02% | |
| Palo Alto Networks Inc. | 4.81% | 12.89% | 3.03% | -2.18% | -4.87% | |
| Salesforce Inc. | 6.02% | 4.14% | 0.21% | 1.52% | 6.14% | |
| ServiceNow Inc. | 6.71% | 6.99% | 9.96% | 2.44% | 2.13% | |
| Synopsys Inc. | 2.76% | 17.31% | 11.90% | 10.45% | 8.66% | |
| Workday Inc. | 2.93% | 8.39% | -2.72% | 0.28% | -3.24% | |
| ROA, Sector | ||||||
| Software & Services | 12.06% | 12.19% | 11.12% | 11.25% | 12.14% | |
| ROA, Industry | ||||||
| Information Technology | 15.43% | 11.95% | 12.47% | 14.49% | 14.60% | |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
1 2025 Calculation
ROA = 100 × Net income (loss) ÷ Total assets
= 100 × 107,741 ÷ 6,643,844 = 1.62%
2 Click competitor name to see calculations.
The Return on Assets (ROA) exhibited a significant trajectory over the observed period. Initially negative, the ROA demonstrated substantial improvement, peaking in 2024 before experiencing a moderate decline.
- ROA Trend
- In 2021, the ROA stood at -0.87%, indicating a loss relative to the company’s assets. This negative value persisted in 2022, worsening to -1.67%. A positive shift occurred in 2023, with the ROA rising to 1.23%, signifying the company began generating profit from its assets. The most substantial increase was observed in 2024, where the ROA reached 3.18%, representing a considerable improvement in asset utilization and profitability. However, the ROA decreased to 1.62% in 2025, suggesting a moderation in the efficiency of asset usage, although remaining positive.
The movement in ROA closely mirrors the changes in net income. The initial losses in 2021 and 2022 contributed to the negative ROA values. The subsequent positive net income in 2023, 2024, and 2025 directly drove the improvement and eventual positive ROA figures. The decrease in ROA from 2024 to 2025, despite continued positive net income, suggests that asset growth outpaced income growth during that period.
- Asset Growth and ROA
- Total assets increased consistently throughout the period, from US$2,380,794 thousand in 2021 to US$6,643,844 thousand in 2025. While net income increased overall, the rate of asset growth was higher between 2024 and 2025, which contributed to the decline in ROA. This indicates that the company was investing in additional assets, but these assets did not immediately translate into a proportional increase in profitability.
The company’s ability to generate earnings from its asset base improved considerably during the period, but the efficiency of asset utilization experienced some fluctuation. The peak ROA in 2024 suggests effective asset management, while the subsequent decline warrants further investigation to determine the underlying causes and potential strategies for improvement.
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