BSYNasdaqServices-Prepackaged SoftwareFiscal year ends December 31
BENTLEY SYSTEMS INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$36.73+1.36 (+3.85%)
Close on Oct 19, 2026
- Market cap
- $11.72B
- P/E (TTM)
- 40.4
- Dividend yield
- 0.76%
Margins
Share of revenue, fiscal years 2017 to 2025
Gross margin
81.5%+2.4 pts over 5 years
Operating margin
24.1%+5.4 pts over 5 years
Net margin
18.5%+2.7 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +11.0% | +11.0% | +13.4% | – | |
| Gross profit | +11.8% | +12.4% | +14.1% | – | |
| Operating income | +20.0% | +20.2% | +19.3% | – | |
| Net income | +18.3% | +16.7% | +17.0% | – | |
| EPS, diluted | +18.1% | +15.6% | +15.1% | – | |
| Free cash flow | +23.5% | +26.7% | +16.5% | – | |
| Dividend per share | +16.7% | +32.6% | -29.6% | – |
Returns and balance sheet
9 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 37.4% | 24.9% | |
| Return on assets | – | 11.9% | 8.0% | |
| Current ratio | – | 0.73 | 0.56 | |
| Debt to equity | – | 0.72 | 1.05 | |
| Net debt to EBITDA | – | 0.67× | – | |
| Interest coverage | – | 20.8× | 47.8× | |
| Capex to revenue | – | 2.1% | 1.2% | |
| Diluted shares | – | 299M | 333M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Bentley Systems generated $1.95B from operations and spent $594.78M on capital expenditure, dividends and share buybacks. 16% of that went back into the business.
Generated
$1.95B
Used
$594.78M
Capital expenditure$93.39M16%Dividends$283.72M48%Share buybacks$217.67M37%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin18.5%
×Asset turnover0.43×
×Equity multiplier3.12×
=Return on equity, FY202524.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 18.5% | 0.43× | 3.12× | 24.9% |
| FY2024 | 17.4% | 0.40× | 3.49× | 24.4% |
| FY2021 | 9.7% | 0.51× | 5.04× | 24.8% |
| FY2020 | 15.8% | 0.76× | 3.14× | 37.4% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
9of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$277.86M
- Cash generatingOperating cash flow above zero$538.46M
- Return on assets improvedROA up on the prior year7.1% → 8.2%
- Earnings backed by cashOperating cash flow above net income$538.46M vs $277.86M
- Less leverageLong-term debt to assets fell40.8% → 35.1%
- Better liquidityCurrent ratio rose0.54 → 0.56
- No dilutionShare count did not rise334M → 333M
- Gross margin improvedGross margin up on the prior year80.95% → 81.52%
- More efficientAsset turnover rose0.41 → 0.44