
Bentley Systems, Incorporated
NASDAQ•BSY
CEO: Mr. Gregory S. Bentley
Sector: Technology
Industry: Software - Application
Listing Date: 2020-09-23
Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS. It also provides infrastructure cloud applications, such as ProjectWise, SYNCHRO, and AssetWise, as well as iTwin platform that enables users to create and curate cloud native 4D/5D digital representations of physical infrastructure assets consisting of iTwin Capture, iTwin Experience, and iTwin IoT platforms. The company serves civil, structural, geotechnical, subsurface, process engineers, architects, geospatial professionals, city and regional planners, contractors, fabricators, and operations and maintenance engineers. Bentley Systems, Incorporated was incorporated in 1984 and is headquartered in Exton, Pennsylvania.
Contact Information
Market Cap
$11.43B
P/E (TTM)
45.8
70.7
Dividend Yield
0.7%
52W High
$59.25
52W Low
$36.51
52W Range
Rank32Top 23.6%
4.9
F-Score
Modified Piotroski Analysis
Based on 7-year fundamentals
Average • 4.9 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2019-2025
Financial Dashboard
Q3 2025 Data
Revenue
$375.55M+12.05%
4-Quarter Trend
EPS
$0.18+28.57%
4-Quarter Trend
FCF
$110.68M+31.30%
4-Quarter Trend
2025 Q3 Earnings Highlights
Key Highlights
Total Revenue Growth Total revenues reached $1.110B USD for nine months, up 10.7% actual growth compared to prior year.
Subscription Revenue Strength Subscriptions revenue hit $1.020B USD, showing 12.4% growth for the nine months ended September 30, 2025.
Operating Income Improvement Operating income grew to $284.1M USD for nine months, up from $240.7M USD in the prior period.
Strong Cash Generation Operating cash flow provided $396.9M USD over nine months, an increase from $353.7M USD last year.
Risk Factors
China Market Uncertainty Future results in China remain uncertain due to geopolitical challenges and preference for license sales over subscriptions.
Debt Maturity Pressure $677.8M USD principal on 2026 Notes matures in January 2026, requiring refinancing via Credit Facility capacity.
Services Revenue Decline Services revenues decreased 8.8% USD for nine months, partially offsetting strong subscription revenue gains.
Climate Disclosure Status SEC climate disclosure rule implementation is currently stayed pending judicial review outcome status monitoring.
Outlook
ARR Growth Metric Focus Management focuses on 10.5% constant currency ARR growth rate to evaluate business scale and trends.
Repurchase Program Status $98.4M USD remains authorized for Class B stock/note repurchases through the program ending June 2026.
Future Liquidity Review Regularly reviewing capital structure for funding growth investments and acquisitions globally and domestically.
Executive Trading Plans New Rule 10b5-1 trading plans adopted by a director and the Chief Technology Officer for stock sales.
Peer Comparison
Revenue (TTM)
$7.02B
ZBRA$5.26B
QXO$4.66B
Gross Margin (Latest Quarter)
DT81.8%
BSY80.8%
DOCU79.2%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| U | $17.52B | -39.9 | -13.6% | 32.9% |
| QXO | $16.06B | -1.0 | -2.4% | 23.8% |
| OKTA | $15.18B | 80.5 | 2.9% | 4.6% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
2.4%
Moderate Growth
4Q Net Income CAGR
4.6%
Profitability Slowly Improving
Cash Flow Stability
100%
Strong Cash Flow
Research & Insights
Next earnings:Feb 25, 2026
EPS:$0.27
|Revenue:$381.97M
Reports
All Years
Form 10-Q - Q3 2025
Period End: Sep 30, 2025|Filed: Nov 5, 2025|Revenue: $375.55M+12.0%|EPS: $0.18+28.6%MissForm 10-Q - Q2 2025
Period End: Jun 30, 2025|Filed: Aug 6, 2025|Revenue: $364.11M+10.2%|EPS: $0.22-4.3%MissForm 10-Q - Q1 2025
Period End: Mar 31, 2025|Filed: May 7, 2025|Revenue: $370.54M+9.7%|EPS: $0.29+31.8%MissForm 10-K - FY 2024
Period End: Dec 31, 2024|Filed: Feb 26, 2025|Revenue: $1.35B+10.2%|EPS: $0.75-29.9%BeatForm 10-Q - Q3 2024
Period End: Sep 30, 2024|Filed: Nov 7, 2024|Revenue: $335.17M+9.3%|EPS: $0.14-17.6%MissForm 10-Q - Q2 2024
Period End: Jun 30, 2024|Filed: Aug 6, 2024|Revenue: $330.34M+11.3%|EPS: $0.23+43.8%MeetForm 10-Q - Q1 2024
Period End: Mar 31, 2024|Filed: May 7, 2024|Revenue: $337.76M+7.4%|EPS: $0.22+46.7%MissForm 10-K - FY 2023
Period End: Dec 31, 2023|Filed: Feb 27, 2024|Revenue: $1.23B+11.8%|EPS: $1.07+87.7%Beat