DASTY vs PTC: Which Is the Better Buy in 2026?

Same yardstick, side by side (as of October 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

Reading it: DASTY is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. DASTY and PTC share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined DASTY and PTC exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

Dassault Systemes SE is a Paris-based software company, listed on Euronext Paris (ticker DSY) and available to US investors as the DASTY American Depositary Receipt. It sells the tools manufacturers and life-sciences companies use to design, simulate, build and manage products: CATIA for 3D design in aerospace and automotive, SIMULIA for simulation, DELMIA for manufacturing operations, ENOVIA for product lifecycle management, SOLIDWORKS for small and mid-sized engineering firms, and Medidata, acquired in 2019 for ~$5.8 billion, which runs clinical-trial data for drugmakers. These products increasingly sit on a common cloud platform the company calls 3DEXPERIENCE, which it frames as a "virtual twin" of a product, a factory or even a patient. Revenue in 2025 was ~EUR 6.24 billion (~$7.1 billion), up ~4% in constant currency, with non-IFRS operating margins around 32% and non-IFRS diluted EPS of ~EUR 1.31. Pascal Daloz has been chief executive since 2024, succeeding long-time leader Bernard Charles, who remains chairman.

Full DASTY guide

PTC Inc. is a Boston-based industrial-software company that builds the digital tools manufacturers use to design, engineer, and manage physical products. Its core franchises are Creo (parametric CAD for mechanical design), Windchill (enterprise PLM that manages product data across design, manufacturing, and service), and Onshape (browser-based cloud CAD acquired in 2019). Around those sit Arena (cloud PLM and quality management), Codebeamer (application lifecycle management for software-defined products), ThingWorx (industrial IoT), and ServiceMax (service lifecycle management). Nearly all of PTC's revenue is now subscription-based and recurring, which is why management steers the business by annual recurring revenue (ARR) rather than headline sales, and why the company earns software-like margins. It serves more than 30,000 customers.

Full PTC guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• DASTY drivers: Subscription and cloud transition; Industrial Innovation and aerospace demand.
• PTC drivers: The Schneider Electric deal and its timeline; Recurring-revenue ARR compounding (what Schneider is buying).

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Revenue growth has slowed to the low-to-mid single digits, and a further guidance cut would likely weigh on a stock that has already de-rated sharply. For PTC, the central risk is now deal risk: the merger needs approval from a majority of outstanding PTC shares and required regulatory approvals, and closing is not anticipated until Q3 2027, so a long review, a regulatory challenge, or a failure to close could send the shares back toward standalone value.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick DASTY if you believe its drivers more; PTC if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the DASTY and PTC guides.

DASTY. Figures are approximate and in euros, the company's reporting currency; USD conversions assume roughly 1.15 to 1.17 dollars per euro. Non-IFRS EPS excludes acquisition amortisation and share-based compensation, so IFRS EPS is materially lower (~EUR 0.90 in 2025), and the trailing multiple depends heavily on which basis a data provider uses. Third-quarter 2026 results are expected in late October 2026, with Q3 guidance of ~EUR 1.50B to 1.54B in revenue, and the ArisGlobal deal is excluded from the current outlook.

PTC. Figures are approximate and tied to the asOf date; verify live numbers before acting. With a signed cash offer, earnings multiples no longer set PTC's price: the stock trades as a merger-arbitrage situation, where the roughly $12 gap between the $193 share price and the $205 offer is compensation for waiting until an anticipated Q3 2027 close and for the risk that the deal fails. Schneider is paying about 21x 2027 estimated adjusted EBITA before synergies.

Headline figures (approximate, October 2026): DASTY shows revenue (fy2025) ~EUR 6.24B (~$7.1B), +4% cc, 2026 revenue guidance ~EUR 6.30B to 6.42B (+3% to 5% cc), non-ifrs operating margin ~32% (2026 guide 32.2% to 32.6%), non-ifrs diluted eps ~EUR 1.31 (2025); 2026 guide EUR 1.30 to 1.34; PTC shows deal price $205 per share in cash from Schneider Electric (~$22.6 billion equity, ~$23.7 billion EV), share price and spread ~$193.01 (Oct 16, 2026), ~6% below the offer, expected close By Q3 2027, subject to PTC shareholder and regulatory approvals, revenue (ttm) ~$2.95 billion (fiscal Q3 2026 ~$600 million).

DASTY and PTC are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined DASTY and PTC exposure against your real portfolio. It is not an investment adviser.