Overview Dividends

(BSY) Bentley Systems - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US08265T2087

Software, Modeling, Simulation, Cloud, Geotechnical

BSY EPS (Earnings per Share)

EPS Growth (3Y CAGR): -54.87%
EPS Trend (3Y Correlation): -9.4%

BSY Revenue

Revenue Growth (3Y CAGR): 11.74%
Revenue Trend (3Y Correlation): 95.1%

Description: BSY Bentley Systems October 16, 2025

Bentley Systems Inc. (NASDAQ: BSY) develops and sells a broad suite of infrastructure-engineering software, ranging from open-modeling tools (e.g., MicroStation, OpenRoads, OpenRail) and simulation packages (e.g., STAAD, ADINA) to cloud-native platforms (ProjectWise, iTwin) that enable 4D/5D digital twins of civil, structural, geotechnical and utilities assets.

The firm’s customer base spans civil and structural engineers, geotechnical specialists, architects, city planners, contractors, fabricators, and O&M teams, reflecting a diversified demand across the global built-environment value chain.

Recent financials show FY 2024 revenue of roughly $262 million, with subscription-based Annual Recurring Revenue (ARR) now exceeding $1.2 billion and an operating margin around 15 %, indicating a successful transition toward higher-margin SaaS and cloud offerings.

Macro-level drivers remain strong: the World Bank projects cumulative global infrastructure spending of more than $15 trillion through 2030, while U.S. federal infrastructure legislation continues to fund large-scale transportation and water projects-both of which directly expand the addressable market for Bentley’s software.

For a deeper quantitative look at BSY’s valuation metrics and scenario analysis, you might explore the ValueRay platform.

BSY Stock Overview

Market Cap in USD	15,576m
Sub-Industry	Application Software
IPO / Inception	2020-09-23

BSY Stock Ratings

Growth Rating	53.1%
Fundamental	72.7%
Dividend Rating	65.1%
Return 12m vs S&P 500	-14.0%
Analyst Rating	4.0 of 5

BSY Dividends

Dividend Yield 12m	0.53%
Yield on Cost 5y	0.77%
Annual Growth 5y	68.18%
Payout Consistency	99.2%
Payout Ratio	24.1%

BSY Growth Ratios

Growth Correlation 3m	-66.7%
Growth Correlation 12m	60.4%
Growth Correlation 5y	23.1%
CAGR 5y	16.14%
CAGR/Max DD 3y (Calmar Ratio)	0.51
CAGR/Mean DD 3y (Pain Ratio)	1.65
Sharpe Ratio 12m	0.06
Alpha	-16.47
Beta	1.074
Volatility	30.01%
Current Volume	1646.8k
Average Volume 20d	1317.8k
Stop Loss	49.2 (-3.2%)
Signal	-0.07

Piotroski VR‑10 (Strict, 0-10) 6.0

Net Income (254.3m TTM) > 0 and > 6% of Revenue (6% = 85.2m TTM)

FCFTA 0.13 (>2.0%) and ΔFCFTA 0.18pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -29.50% (prev -31.05%; Δ 1.55pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.13 (>3.0%) and CFO 448.2m > Net Income 254.3m (YES >=105%, WARN >=100%)

Net Debt (1.19b) to EBITDA (401.1m) ratio: 2.97 <= 3.0 (WARN <= 3.5)

Current Ratio 0.51 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (332.8m) change vs 12m ago -0.29% (target <= -2.0% for YES)

Gross Margin 80.60% (prev 78.70%; Δ 1.90pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 42.50% (prev 39.46%; Δ 3.04pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 17.15 (EBITDA TTM 401.1m / Interest Expense TTM 19.7m) >= 6 (WARN >= 3)

Altman Z'' -0.20

(A) -0.12 = (Total Current Assets 439.5m - Total Current Liabilities 858.4m) / Total Assets 3.42b

(B) -0.01 = Retained Earnings (Balance) -31.4m / Total Assets 3.42b

(D) -0.04 = Book Value of Equity -97.4m / Total Liabilities 2.26b

Total Rating: -0.20 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 72.66

1. Piotroski 6.0pt = 1.0

2. FCF Yield 2.59% = 1.29

3. FCF Margin 30.55% = 7.50

4. Debt/Equity 1.10 = 1.92

5. Debt/Ebitda 2.97 = -1.73

6. ROIC - WACC (= 3.25)% = 4.06

7. RoE 23.47% = 1.96

8. Rev. Trend 95.10% = 7.13

9. EPS Trend -9.39% = -0.47

What is the price of BSY shares?

As of November 04, 2025, the stock is trading at USD 50.83 with a total of 1,646,836 shares traded.
Over the past week, the price has changed by -2.62%, over one month by -9.15%, over three months by -12.10% and over the past year by +4.22%.

Is Bentley Systems a good stock to buy?

Partly, yes. Based on ValueRay´s Fundamental Analyses, Bentley Systems (NASDAQ:BSY) is currently (November 2025) ok to buy, but has to be watched. It has a ValueRay Fundamental Rating of 72.66 and therefor a somewhat positive outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of BSY is around 44.01 USD . This means that BSY is currently overvalued and has a potential downside of -13.42%.

Is BSY a buy, sell or hold?

Bentley Systems has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy BSY.

Strong Buy: 7
Buy: 3
Hold: 5
Sell: 1
Strong Sell: 0

What are the forecasts/targets for the BSY price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	58.9	15.9%
Analysts Target Price	58.9	15.9%
ValueRay Target Price	49.4	-2.8%

BSY Fundamental Data Overview October 20, 2025

Market Cap USD = 15.58b (15.58b USD * 1.0 USD.USD)
P/E Trailing = 65.7692
P/E Forward = 40.9836
P/S = 10.972
P/B = 14.6192
P/EG = 2.6108
Beta = 1.074
Revenue TTM = 1.42b USD
EBIT TTM = 338.4m USD
EBITDA TTM = 401.1m USD
Long Term Debt = 1.25b USD (from longTermDebt, last quarter)
Short Term Debt = 11.9m USD (from shortTermDebt, last quarter)
Debt = 1.28b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.19b USD (from netDebt column, last quarter)
Enterprise Value = 16.77b USD (15.58b + Debt 1.28b - CCE 89.6m)
Interest Coverage Ratio = 17.15 (Ebit TTM 338.4m / Interest Expense TTM 19.7m)
FCF Yield = 2.59% (FCF TTM 433.7m / Enterprise Value 16.77b)
FCF Margin = 30.55% (FCF TTM 433.7m / Revenue TTM 1.42b)
Net Margin = 17.91% (Net Income TTM 254.3m / Revenue TTM 1.42b)
Gross Margin = 80.60% ((Revenue TTM 1.42b - Cost of Revenue TTM 275.4m) / Revenue TTM)
Gross Margin QoQ = 78.86% (prev 82.28%)
Tobins Q-Ratio = 4.90 (Enterprise Value 16.77b / Total Assets 3.42b)
Interest Expense / Debt = 0.30% (Interest Expense 3.86m / Debt 1.28b)
Taxrate = 11.18% (8.88m / 79.4m)
NOPAT = 300.5m (EBIT 338.4m * (1 - 11.18%))
Current Ratio = 0.51 (Total Current Assets 439.5m / Total Current Liabilities 858.4m)
Debt / Equity = 1.10 (Debt 1.28b / totalStockholderEquity, last quarter 1.16b)
Debt / EBITDA = 2.97 (Net Debt 1.19b / EBITDA 401.1m)
Debt / FCF = 2.75 (Net Debt 1.19b / FCF TTM 433.7m)
Total Stockholder Equity = 1.08b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.43% (Net Income 254.3m / Total Assets 3.42b)
RoE = 23.47% (Net Income TTM 254.3m / Total Stockholder Equity 1.08b)
RoCE = 14.53% (EBIT 338.4m / Capital Employed (Equity 1.08b + L.T.Debt 1.25b))
RoIC = 12.48% (NOPAT 300.5m / Invested Capital 2.41b)
WACC = 9.23% (E(15.58b)/V(16.86b) * Re(9.97%) + D(1.28b)/V(16.86b) * Rd(0.30%) * (1-Tc(0.11)))
Discount Rate = 9.97% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -0.09%
[DCF Debug] Terminal Value 73.70% ; FCFE base≈423.0m ; Y1≈480.4m ; Y5≈657.4m
Fair Price DCF = 28.06 (DCF Value 8.20b / Shares Outstanding 292.1m; 5y FCF grow 15.81% → 3.0% )
EPS Correlation: -9.39 | EPS CAGR: -54.87% | SUE: -4.0 | # QB: 0
Revenue Correlation: 95.10 | Revenue CAGR: 11.74% | SUE: 0.11 | # QB: 0

Additional Sources for BSY Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle