BENTLEY SYSTEMS INC
BSY· Nasdaq· Services-Prepackaged Software
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- 34.6%
- ROIC, 5 yr avg
- –
- Revenue, 5 yr CAGR
- +13.4%
We record prices for the companies we cover; BSY is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 333.1M
- Revenue
- $1.5B
- Free cash flow
- $520.2M
- Owner earnings
- $447.6M
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- 81.5%
- Operating
- 24.1%
- Net
- 18.5%
- Free cash flow
- 34.6%
- Owner earnings
- 29.8%
- Stock pay
- 4.8%
Returns
- ROIC, FY2025
- 12.4%
- ROIC, 5 yr avg
- –
- ROE, FY2025
- 23.4%
- ROE, 5 yr avg
- 27.2%
Growth (CAGR)
- Revenue, 3 yr
- 11.0%
- Revenue, 5 yr
- 13.4%
- Revenue, 7 yr
- 11.7%
- Diluted EPS, 3 yr
- 15.6%
- Diluted EPS, 5 yr
- 15.1%
- Diluted EPS, 7 yr
- 8.2%
- Free cash flow, 3 yr
- 26.7%
- Free cash flow, 5 yr
- 16.5%
- Free cash flow, 7 yr
- 20.3%
Financial health · FY2025
- Cash and investments
- $123.3M
- Total debt
- $1.2B
- Net debt
- $1.1B
- Debt/Equity
- 1.1x
- Debt/FCF
- 2.4x
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- 30.6%
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- 2.2%
Financials: ten years from the 10-Ks
Revenue
$1.5B
+11.7% a year over 7 years
FY2018FY2025
Margins
Gross81.5%Operating24.1%Net18.5%
FY2025
FY2018FY2025
Free cash flow and owner earnings
Free cash flow$520.2MOwner earnings$447.6M
Free cash flow +20.3% a year
FY2018FY2025
Diluted shares
333.1M
+13.8% over 7 years, net dilution
FY2018FY2025
Return on invested capital
12.4%
FY2025
FY2018FY2025
Net debt (below zero)
-$1.1B
$1.1B more debt than cash
FY2018FY2025
Every figure, year by year
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| The business | ||||||||
| Revenue | $691.7M | $736.7M | $801.5M | $965.0M | $1.1B | $1.2B | $1.4B | $1.5B |
| Revenue growth | – | 6.5% | 8.8% | 20.4% | 13.9% | 11.8% | 10.1% | 11.0% |
| Gross margin | 81.0% | 80.4% | 79.1% | 77.6% | 78.4% | 78.3% | 80.9% | 81.5% |
| Operating margin | 17.5% | 19.3% | 18.7% | 9.8% | 19.0% | 18.8% | 22.3% | 24.1% |
| Net income | $142.1M | $103.1M | $126.5M | $93.2M | $174.8M | $326.8M | $234.8M | $277.9M |
| Net margin | 20.5% | 14.0% | 15.8% | 9.7% | 15.9% | 26.6% | 17.4% | 18.5% |
| Diluted EPS | $0.49 | $0.35 | $0.42 | $0.30 | $0.55 | $1.00 | $0.72 | $0.85 |
| Return on invested capital? | – | 25.8% | 24.8% | – | 8.2% | – | 10.2% | 12.4% |
| Cash | ||||||||
| Operating cash flow | $161.5M | $170.8M | $258.3M | $288.0M | $274.3M | $416.7M | $435.3M | $538.5M |
| Capital expenditure | $18.6M | $16.6M | $16.4M | $17.5M | $18.5M | $25.0M | $14.0M | $18.3M |
| Free cash flow | $142.8M | $154.1M | $241.9M | $270.5M | $255.8M | $391.7M | $421.2M | $520.2M |
| Stock-based compensation | $7.9M | $8.1M | $32.1M | $49.0M | $75.2M | $73.0M | $74.4M | $72.6M |
| Owner earnings? | $135.0M | $146.0M | $209.8M | $221.4M | $180.6M | $318.7M | $346.8M | $447.6M |
| Free cash flow per share | $0.49 | $0.52 | $0.81 | $0.86 | $0.77 | $1.18 | $1.26 | $1.56 |
| Capital allocation | ||||||||
| Dividends paid | $20.1M | $25.0M | $422.6M | $33.4M | $34.5M | $58.8M | $72.1M | $85.0M |
| Share repurchases | $46.5M | $24.2M | $0 | $0 | $28.3M | $0 | $64.4M | $125.1M |
| Diluted shares | 292.6M | 293.8M | 299.4M | 314.6M | 331.8M | 332.5M | 333.8M | 333.1M |
| Share count change? | – | 0.4% | 1.9% | 5.1% | 5.5% | 0.2% | 0.4% | -0.2% |
| Balance sheet | ||||||||
| Cash and equivalents | $81.2M | $121.1M | $122.0M | $329.3M | $71.7M | $68.4M | $64.0M | $123.3M |
| Short-term investments | – | – | – | – | – | – | – | – |
| Total debt | – | $233.8M | $246.0M | $1.4B | $1.8B | $1.5B | $1.4B | $1.2B |
| Net debt | – | $112.6M | $124.0M | $1.1B | $1.7B | $1.5B | $1.3B | $1.1B |
| Shareholders' equity | $147.4M | $334.6M | $341.6M | $409.2M | $573.5M | $883.3M | $1.0B | $1.2B |
Latest filings
| 2026-08-06 | 10-Q | Quarterly report |
| 2026-08-06 | 8-K | Earnings release |
| 2026-05-07 | 10-Q | Quarterly report |
| 2026-05-07 | 8-K | Earnings release |
| 2026-04-10 | DEF 14A | Proxy statement |
| 2026-02-26 | 10-K | Annual report |
| 2026-02-26 | 8-K | Earnings release |
| 2025-11-05 | 10-Q | Quarterly report |
| 2025-11-05 | 8-K | Earnings release |
| 2025-08-06 | 10-Q | Quarterly report |
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