AbstractLet be a bounded linear operator between two real normed spaces. We characterize compactness of T in terms of differentiability of the Lipschitz functions defined on X with values in another normed space Z. Furthermore, using a similar technique we can also characterize finite rank operators in terms of differentiability of a wider class of functions but still with Lipschitz flavour. As an application we obtain a Banach–Stone‐like theorem. On the other hand, we give an extension of a result of Bourgain and Diestel related to limited operators and cosingularity.