# Bentley Systems Incorporated (BSY) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Technology / Software. Price $33.71, market value $10.2 billion.

## Valuation
- **P/E (trailing): 37.5×** (5-yr avg 76.8×, 3-yr avg 53.5×). Bentley Systems Incorporated trades at 37.5× trailing earnings, well below its own five-year average of 76.8×: cheap by its own standards. The Technology median in the September 2026 study was 32.1×. Forward P/E is 21.5×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 1.19**. A PEG of 1.19 is in the range usually read as fairly priced for its growth.
- **Price / sales: 6.4×**. Each dollar of revenue is priced at 6.4×.
- **Price / book: 8.7×**. The shares trade at 8.7× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **Free-cash-flow yield: 4.9%** (5-yr avg 2.6%). Free cash flow equals 4.9% of the market value, above its five-year average of 2.6%, so the shares are cheaper on cash than they have usually been.
- **Earnings yield: 2.7%**. The inverse of the P/E: 2.7% of the price is earned each year.

## Profitability
- **Gross margin: 81.8%**. Bentley Systems Incorporated keeps 81.8% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 23.6%**. 23.6% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 18.5%**. 18.5% of each dollar of sales reaches the bottom line.
- **Return on equity: 23.4%**. 23.4% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on invested capital: 12.9%**. Return on all capital, debt included, is 12.9%.
- **Return on assets: 8.2%**. Each dollar of assets produces 8.2% of profit.

## Growth
- **Revenue growth (1 yr): 11.0%** (3-yr 11.0%/yr, 5-yr 13.4%/yr). Revenue grew 11.0% over the last year, against 13.4% a year compounded over five years.
- **EPS growth (1 yr): 18.1%** (3-yr 15.6%/yr, 5-yr 15.1%/yr). Earnings per share rose 18.1%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 26.7%/yr**. Free cash flow has compounded at 26.7% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 1.05**. Debt is 1.05 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Altman Z-score: 3.81**. A Z-score of 3.81 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 8/9**. 8 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend yield: 0.83%** ($0.28 per share, trailing). Bentley Systems Incorporated yields 0.83%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 31%** (17% of free cash flow). 31% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 6**. 6 straight years of increases.
- **Dividend growth (5 yr): 56.3%/yr** (1-yr 16.7%). The dividend has compounded at 56.3% a year over five years, doubling roughly every 1 years at that pace.

## Price and momentum
- **Total return (1 yr): -36.9%** (YTD -11.3%, 3-mo 2.4%). The shares are down 36.9% over twelve months including dividends.
- **From 52-week high: -41.1%** (20.1% above the low). Trading 41% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 41**. An RSI of 41 is neutral.
- **Beta (1 yr): 0.50** (volatility 41%). Beta of 0.50 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=BSY · Page: https://foliofundamentals.com/stocks/bsy

Not investment advice.