BENTLEY SYSTEMS INC BSY
Bentley Systems is the infrastructure engineering software company.
Our purpose is to advance the world's infrastructure for better quality of life. Our mission is to reshape how infrastructure systems and critical resources are delivered and optimized.
Our enduring commitment is to develop and support the most comprehensive portfolio of integrated software offerings across disciplines, sectors, geographies, and the infrastructure lifecycle, enabling digital workflows that improve project delivery and asset performance.
Our users design, build, and operate infrastructure assets for the following sectors:
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.50B | $1.35B | $1.23B | $1.10B | $965.0M | $801.5M | $736.7M | $691.7M | — |
| Cost of revenue | $277.5M | $257.8M | $266.1M | $237.0M | $216.5M | $167.2M | $144.2M | $131.3M | — |
| Gross profit | $1.22B | $1.10B | $962.3M | $862.1M | $748.5M | $634.4M | $592.5M | $560.4M | — |
| R&D | $307.6M | $281.2M | $274.6M | $257.9M | $220.9M | $185.5M | $183.6M | $175.0M | — |
| SG&A | $217.3M | $210.4M | $180.7M | $174.6M | $150.1M | $113.3M | $97.2M | $89.3M | — |
| Total operating expenses | $861.6M | $793.2M | $731.8M | $653.5M | $653.9M | $484.2M | $450.6M | $439.0M | — |
| Operating income | $362.6M | $302.1M | $230.5M | $208.6M | $94.6M | $150.2M | $141.9M | $121.4M | — |
| Interest expense | — | — | — | $35.1M | $11.5M | $7.2M | $9.7M | $9.6M | — |
| Pre-tax income | $350.7M | $293.1M | $183.5M | $198.3M | $93.3M | $167.6M | $128.1M | $112.9M | — |
| Income tax | $73.0M | $58.7M | $143.2M | $21.3M | $3.4M | $38.6M | $23.7M | $29.2M | — |
| Net income | $277.9M | $234.8M | $326.8M | $174.8M | $93.2M | $126.5M | $103.1M | $142.1M | — |
| EPS, basic | 0.88 | 0.75 | 1.05 | 0.57 | 0.30 | 0.44 | 0.36 | 0.50 | — |
| EPS, diluted | 0.85 | 0.72 | 1.00 | 0.55 | 0.30 | 0.42 | 0.35 | 0.49 | — |
| Shares, diluted (wtd. avg.) | $333.1M | $333.8M | $332.5M | $331.8M | $314.6M | $299.4M | $293.8M | $292.6M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $123.3M | $64.0M | $68.4M | $71.7M | $329.3M | $122.0M | $121.1M | $81.2M | $134.5M |
| Total current assets | $539.0M | $442.1M | $419.6M | $415.9M | $615.8M | $340.3M | $353.6M | — | — |
| Goodwill | $2.48B | $2.37B | $2.27B | $2.24B | $1.59B | $581.2M | $480.1M | $446.3M | — |
| Other intangibles | $193.0M | $214.0M | $248.8M | $292.3M | $245.8M | $45.6M | $46.3M | — | — |
| Total assets | $3.56B | $3.40B | $3.32B | $3.17B | $2.66B | $1.13B | $994.6M | — | — |
| Accounts payable | $27.0M | $16.5M | $18.1M | $15.2M | $16.5M | $16.5M | $17.7M | — | — |
| Short-term debt | $0 | $0 | $10.0M | $5.0M | $5.0M | $0 | — | — | — |
| Total current liabilities | $960.2M | $814.3M | $760.4M | $628.4M | $593.9M | $465.6M | $392.4M | — | — |
| Long-term debt | $1.25B | $1.39B | $1.52B | $1.78B | $1.43B | $246.0M | $233.8M | — | — |
| Total liabilities | $2.37B | $2.36B | $2.44B | $2.59B | $2.25B | $784.4M | $660.0M | — | — |
| Retained earnings | -$40.3M | -$75.9M | -$161.9M | -$370.9M | -$439.6M | -$376.0M | -$52.7M | — | — |
| Total equity | $1.19B | $1.04B | $884.0M | $573.5M | $409.2M | $341.6M | $334.6M | $147.4M | $52.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $538.5M | $435.3M | $416.7M | $274.3M | $288.0M | $258.3M | $170.8M | $161.5M | — |
| Depreciation and amortisation | — | — | — | $71.5M | $52.8M | $36.1M | $32.2M | $29.2M | — |
| Stock-based compensation | $72.6M | $74.4M | $73.0M | $75.2M | $49.0M | $32.1M | $8.1M | $7.9M | — |
| Capital expenditure | $18.3M | $14.0M | $25.0M | $18.5M | $17.5M | $16.4M | $16.6M | $18.6M | — |
| Investing cash flow | -$112.3M | -$143.3M | -$60.5M | -$770.1M | -$1.06B | -$117.3M | -$53.7M | -$154.8M | — |
| Financing cash flow | -$376.3M | -$289.9M | -$359.1M | $243.0M | $982.6M | -$136.5M | -$77.0M | -$58.8M | — |
| Dividends paid | $85.0M | $72.1M | $58.8M | $34.5M | $33.4M | $422.6M | $25.0M | $20.1M | — |
| Buybacks | $125.1M | $64.4M | $0 | $28.2M | $0 | $0 | $24.2M | $46.5M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-042019.
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