(BSY) Bentley Systems - Overview
Stock: Modeling, Simulation, Geoprofessional, Cloud, Digital-Twin
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 0.61% |
| Yield on Cost 5y | 0.62% |
| Yield CAGR 5y | 23.59% |
| Payout Consistency | 99.2% |
| Payout Ratio | 33.3% |
| Risk 5d forecast | |
|---|---|
| Volatility | 40.9% |
| Relative Tail Risk | -0.43% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -1.12 |
| Alpha | -42.49 |
| Character TTM | |
|---|---|
| Beta | 0.816 |
| Beta Downside | 0.587 |
| Drawdowns 3y | |
|---|---|
| Max DD | 45.70% |
| CAGR/Max DD | -0.11 |
Description: BSY Bentley Systems December 19, 2025
Bentley Systems (NASDAQ:BSY) develops and sells a broad portfolio of infrastructure engineering software used across the Americas, Europe, the Middle East, Africa, and Asia-Pacific. Its flagship desktop tools include MicroStation and a suite of “Open” applications that cover civil, structural, geotechnical, rail, road, plant, and utility design, while its simulation products (e.g., ADINA, STAAD, PLATT) support analysis of everything from fluid flow to structural dynamics.
The company’s cloud-based offerings-ProjectWise, SYNCHRO, AssetWise, and the iTwin platform (iTwin Capture, Experience, and IoT)-enable the creation of 4D/5D digital twins that integrate design, construction, and operations data in a single, searchable model. These solutions target a wide user base that includes engineers, architects, planners, contractors, fabricators, and O&M professionals.
From a financial standpoint, Bentley reported FY 2024 revenue of approximately $1.05 billion, with subscription-based recurring revenue (RR) growing at ~12% YoY, reflecting a broader industry shift toward SaaS licensing. The global market for infrastructure digital-twin and BIM software is projected to expand at a CAGR of 13% through 2030, driven by rising public-sector investment in resilient infrastructure and tighter regulatory demands for lifecycle asset management.
Key economic drivers for Bentley include: (1) the U.S. federal infrastructure bill, which is expected to inject $1.2 trillion into transportation and water projects over the next decade; (2) accelerating adoption of cloud-native engineering workflows that reduce on-premise IT costs; and (3) increasing demand for sustainability-focused design tools as ESG reporting becomes mandatory for large-scale projects.
For a deeper quantitative comparison of Bentley’s valuation metrics, you may find the ValueRay platform useful.
Piotroski VR‑10 (Strict, 0-10) 6.5
| Net Income: 269.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.13 > 0.02 and ΔFCF/TA 0.74 > 1.0 |
| NWC/Revenue: -22.85% < 20% (prev -28.80%; Δ 5.95% < -1%) |
| CFO/TA 0.14 > 3% & CFO 478.5m > Net Income 269.3m |
| Net Debt (1.12b) to EBITDA (425.3m): 2.63 < 3 |
| Current Ratio: 0.61 > 1.5 & < 3 |
| Outstanding Shares: last quarter (333.2m) vs 12m ago -0.17% < -2% |
| Gross Margin: 81.20% > 18% (prev 0.80%; Δ 8039 % > 0.5%) |
| Asset Turnover: 42.56% > 50% (prev 38.68%; Δ 3.88% > 0%) |
| Interest Coverage Ratio: 22.01 > 6 (EBITDA TTM 425.3m / Interest Expense TTM 16.3m) |
Altman Z'' 0.02
| A: -0.10 (Total Current Assets 526.8m - Total Current Liabilities 860.5m) / Total Assets 3.46b |
| B: -0.00 (Retained Earnings -13.9m / Total Assets 3.46b) |
| C: 0.10 (EBIT TTM 358.9m / Avg Total Assets 3.43b) |
| D: -0.04 (Book Value of Equity -88.3m / Total Liabilities 2.27b) |
| Altman-Z'' Score: 0.02 = B |
Beneish M -3.06
| DSRI: 0.98 (Receivables 286.2m/262.8m, Revenue 1.46b/1.31b) |
| GMI: 0.99 (GM 81.20% / 80.39%) |
| AQI: 0.96 (AQ_t 0.83 / AQ_t-1 0.86) |
| SGI: 1.11 (Revenue 1.46b / 1.31b) |
| TATA: -0.06 (NI 269.3m - CFO 478.5m) / TA 3.46b) |
| Beneish M-Score: -3.06 (Cap -4..+1) = AA |
What is the price of BSY shares?
Over the past week, the price has changed by -5.55%, over one month by -15.85%, over three months by -28.44% and over the past year by -28.60%.
Is BSY a buy, sell or hold?
- StrongBuy: 7
- Buy: 3
- Hold: 5
- Sell: 1
- StrongSell: 0
What are the forecasts/targets for the BSY price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 53.7 | 61.9% |
| Analysts Target Price | 53.7 | 61.9% |
| ValueRay Target Price | 33.1 | -0.2% |
BSY Fundamental Data Overview February 03, 2026
P/E Forward = 26.1097
P/S = 7.3037
P/B = 8.919
P/EG = 1.5683
Revenue TTM = 1.46b USD
EBIT TTM = 358.9m USD
EBITDA TTM = 425.3m USD
Long Term Debt = 1.25b USD (from longTermDebt, last quarter)
Short Term Debt = 11.8m USD (from shortTermDebt, last quarter)
Debt = 1.28b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.12b USD (from netDebt column, last quarter)
Enterprise Value = 11.78b USD (10.66b + Debt 1.28b - CCE 165.4m)
Interest Coverage Ratio = 22.01 (Ebit TTM 358.9m / Interest Expense TTM 16.3m)
EV/FCF = 25.60x (Enterprise Value 11.78b / FCF TTM 460.1m)
FCF Yield = 3.91% (FCF TTM 460.1m / Enterprise Value 11.78b)
FCF Margin = 31.52% (FCF TTM 460.1m / Revenue TTM 1.46b)
Net Margin = 18.45% (Net Income TTM 269.3m / Revenue TTM 1.46b)
Gross Margin = 81.20% ((Revenue TTM 1.46b - Cost of Revenue TTM 274.5m) / Revenue TTM)
Gross Margin QoQ = 80.78% (prev 81.11%)
Tobins Q-Ratio = 3.40 (Enterprise Value 11.78b / Total Assets 3.46b)
Interest Expense / Debt = 0.13% (Interest Expense 1.68m / Debt 1.28b)
Taxrate = 31.43% (26.3m / 83.5m)
NOPAT = 246.1m (EBIT 358.9m * (1 - 31.43%))
Current Ratio = 0.61 (Total Current Assets 526.8m / Total Current Liabilities 860.5m)
Debt / Equity = 1.07 (Debt 1.28b / totalStockholderEquity, last quarter 1.20b)
Debt / EBITDA = 2.63 (Net Debt 1.12b / EBITDA 425.3m)
Debt / FCF = 2.43 (Net Debt 1.12b / FCF TTM 460.1m)
Total Stockholder Equity = 1.12b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.85% (Net Income 269.3m / Total Assets 3.46b)
RoE = 23.96% (Net Income TTM 269.3m / Total Stockholder Equity 1.12b)
RoCE = 15.14% (EBIT 358.9m / Capital Employed (Equity 1.12b + L.T.Debt 1.25b))
RoIC = 10.23% (NOPAT 246.1m / Invested Capital 2.41b)
WACC = 7.97% (E(10.66b)/V(11.95b) * Re(8.92%) + D(1.28b)/V(11.95b) * Rd(0.13%) * (1-Tc(0.31)))
Discount Rate = 8.92% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -0.03%
[DCF Debug] Terminal Value 79.95% ; FCFF base≈446.5m ; Y1≈507.0m ; Y5≈692.2m
Fair Price DCF = 37.17 (EV 11.97b - Net Debt 1.12b = Equity 10.85b / Shares 292.0m; r=7.97% [WACC]; 5y FCF grow 15.81% → 2.90% )
EPS Correlation: -10.56 | EPS CAGR: -47.78% | SUE: -4.0 | # QB: 0
Revenue Correlation: 96.82 | Revenue CAGR: 9.02% | SUE: 1.37 | # QB: 1
EPS next Quarter (2026-03-31): EPS=0.36 | Chg30d=-0.001 | Revisions Net=+1 | Analysts=12
EPS next Year (2026-12-31): EPS=1.34 | Chg30d=-0.002 | Revisions Net=-2 | Growth EPS=+13.8% | Growth Revenue=+10.5%