BENTLEY SYSTEMS INC-CLASS B (BSY) Stock Fundamental Analysis
NASDAQ:BSY - US08265T2087 - Common Stock
53.06 USD
-0.35 (-0.66%)
We assign a fundamental rating of 5 out of 10 to BSY. BSY was compared to 280 industry peers in the Software industry. BSY scores excellent on profitability, but there are concerns on its financial health. While showing a medium growth rate, BSY is valued expensive at the moment.
1. Profitability
1.1 Basic Checks
In the past year BSY was profitable.
BSY had a positive operating cash flow in the past year.
BSY had positive earnings in each of the past 5 years.
Each year in the past 5 years BSY had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 7.43%, BSY is in the better half of the industry, outperforming 79.64% of the companies in the same industry.
BSY has a Return On Equity of 21.88%. This is amongst the best in the industry. BSY outperforms 88.21% of its industry peers.
With an excellent Return On Invested Capital value of 10.54%, BSY belongs to the best of the industry, outperforming 86.43% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for BSY is below the industry average of 12.00%.
The last Return On Invested Capital (10.54%) for BSY is above the 3 year average (8.00%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.43% | ||
| ROE | 21.88% | ||
| ROIC | 10.54% |
ROA(3y)7.42%
ROA(5y)7.4%
ROE(3y)30.01%
ROE(5y)29.96%
ROIC(3y)8%
ROIC(5y)10.54%
1.3 Margins
With an excellent Profit Margin value of 17.91%, BSY belongs to the best of the industry, outperforming 81.43% of the companies in the same industry.
BSY's Profit Margin has improved in the last couple of years.
BSY has a better Operating Margin (23.82%) than 89.29% of its industry peers.
BSY's Operating Margin has improved in the last couple of years.
BSY has a Gross Margin of 81.18%. This is amongst the best in the industry. BSY outperforms 84.29% of its industry peers.
In the last couple of years the Gross Margin of BSY has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 23.82% | ||
| PM (TTM) | 17.91% | ||
| GM | 81.18% |
OM growth 3Y5.52%
OM growth 5Y3.69%
PM growth 3Y21.55%
PM growth 5Y4.39%
GM growth 3Y1.43%
GM growth 5Y0.13%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so BSY is destroying value.
BSY has more shares outstanding than it did 1 year ago.
The number of shares outstanding for BSY has been increased compared to 5 years ago.
The debt/assets ratio for BSY has been reduced compared to a year ago.
2.2 Solvency
An Altman-Z score of 4.88 indicates that BSY is not in any danger for bankruptcy at the moment.
BSY has a Altman-Z score of 4.88. This is in the better half of the industry: BSY outperforms 68.93% of its industry peers.
BSY has a debt to FCF ratio of 2.87. This is a good value and a sign of high solvency as BSY would need 2.87 years to pay back of all of its debts.
BSY has a better Debt to FCF ratio (2.87) than 64.64% of its industry peers.
BSY has a Debt/Equity ratio of 1.07. This is a high value indicating a heavy dependency on external financing.
BSY has a worse Debt to Equity ratio (1.07) than 75.71% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.07 | ||
| Debt/FCF | 2.87 | ||
| Altman-Z | 4.88 |
ROIC/WACC0.97
WACC10.89%
2.3 Liquidity
A Current Ratio of 0.51 indicates that BSY may have some problems paying its short term obligations.
BSY has a worse Current ratio (0.51) than 89.29% of its industry peers.
A Quick Ratio of 0.51 indicates that BSY may have some problems paying its short term obligations.
With a Quick ratio value of 0.51, BSY is not doing good in the industry: 88.93% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.51 | ||
| Quick Ratio | 0.51 |
3. Growth
3.1 Past
The Earnings Per Share has been growing slightly by 7.69% over the past year.
The Earnings Per Share has been growing by 12.41% on average over the past years. This is quite good.
Looking at the last year, BSY shows a quite strong growth in Revenue. The Revenue has grown by 10.45% in the last year.
The Revenue has been growing by 12.93% on average over the past years. This is quite good.
EPS 1Y (TTM)7.69%
EPS 3Y8.4%
EPS 5Y12.41%
EPS Q2Q%3.23%
Revenue 1Y (TTM)10.45%
Revenue growth 3Y11.93%
Revenue growth 5Y12.93%
Sales Q2Q%10.22%
3.2 Future
BSY is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 14.99% yearly.
BSY is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.16% yearly.
EPS Next Y14%
EPS Next 2Y12.68%
EPS Next 3Y13.91%
EPS Next 5Y14.99%
Revenue Next Year9.95%
Revenue Next 2Y10.16%
Revenue Next 3Y10.37%
Revenue Next 5Y9.16%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 47.38 indicates a quite expensive valuation of BSY.
BSY's Price/Earnings ratio is in line with the industry average.
BSY's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 26.84.
With a Price/Forward Earnings ratio of 39.06, BSY can be considered very expensive at the moment.
The rest of the industry has a similar Price/Forward Earnings ratio as BSY.
The average S&P500 Price/Forward Earnings ratio is at 22.48. BSY is valued rather expensively when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 47.38 | ||
| Fwd PE | 39.06 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, BSY is valued a bit cheaper than the industry average as 66.07% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, BSY is valued a bit cheaper than the industry average as 67.50% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 37.14 | ||
| EV/EBITDA | 43.24 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates BSY does not grow enough to justify the current Price/Earnings ratio.
BSY has an outstanding profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as BSY's earnings are expected to grow with 13.91% in the coming years.
PEG (NY)3.38
PEG (5Y)3.82
EPS Next 2Y12.68%
EPS Next 3Y13.91%
5. Dividend
5.1 Amount
With a yearly dividend of 0.51%, BSY is not a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 57.16, BSY pays a better dividend. On top of this BSY pays more dividend than 89.64% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.32, BSY's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.51% |
5.2 History
BSY has been paying a dividend for over 5 years, so it has already some track record.
BSY has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)N/A
Div Incr Years2
Div Non Decr Years4
5.3 Sustainability
30.98% of the earnings are spent on dividend by BSY. This is a low number and sustainable payout ratio.
DP30.98%
EPS Next 2Y12.68%
EPS Next 3Y13.91%
NASDAQ:BSY (9/4/2025, 10:09:06 AM)
53.06
-0.35 (-0.66%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)
Earnings (Next)
Inst Owners43.68%
Inst Owner Change3.87%
Ins Owners40.42%
Ins Owner Change-1.72%
Market Cap16.11B
Analysts77.89
Price Target60.57 (14.15%)
Short Float %4.54%
Short Ratio4.26
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.51% |
Yearly Dividend0.24
Dividend Growth(5Y)N/A
DP30.98%
Div Incr Years2
Div Non Decr Years4
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)12.63%
Min EPS beat(2)11.45%
Max EPS beat(2)13.82%
EPS beat(4)2
Avg EPS beat(4)4.8%
Min EPS beat(4)-4.04%
Max EPS beat(4)13.82%
EPS beat(8)6
Avg EPS beat(8)11.84%
EPS beat(12)10
Avg EPS beat(12)12.54%
EPS beat(16)14
Avg EPS beat(16)14.49%
Revenue beat(2)1
Avg Revenue beat(2)-0.42%
Min Revenue beat(2)-0.85%
Max Revenue beat(2)0.02%
Revenue beat(4)1
Avg Revenue beat(4)-1.15%
Min Revenue beat(4)-2.61%
Max Revenue beat(4)0.02%
Revenue beat(8)3
Avg Revenue beat(8)-0.77%
Revenue beat(12)5
Avg Revenue beat(12)-0.29%
Revenue beat(16)8
Avg Revenue beat(16)0.07%
PT rev (1m)13.18%
PT rev (3m)14.63%
EPS NQ rev (1m)-2.5%
EPS NQ rev (3m)-5.75%
EPS NY rev (1m)2.32%
EPS NY rev (3m)2.32%
Revenue NQ rev (1m)0.29%
Revenue NQ rev (3m)-0.51%
Revenue NY rev (1m)0.13%
Revenue NY rev (3m)0.13%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 47.38 | ||
| Fwd PE | 39.06 | ||
| P/S | 11.35 | ||
| P/FCF | 37.14 | ||
| P/OCF | 35.94 | ||
| P/B | 13.86 | ||
| P/tB | N/A | ||
| EV/EBITDA | 43.24 |
EPS(TTM)1.12
EY2.11%
EPS(NY)1.36
Fwd EY2.56%
FCF(TTM)1.43
FCFY2.69%
OCF(TTM)1.48
OCFY2.78%
SpS4.68
BVpS3.83
TBVpS-4.77
PEG (NY)3.38
PEG (5Y)3.82
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.43% | ||
| ROE | 21.88% | ||
| ROCE | 13.19% | ||
| ROIC | 10.54% | ||
| ROICexc | 10.92% | ||
| ROICexgc | N/A | ||
| OM | 23.82% | ||
| PM (TTM) | 17.91% | ||
| GM | 81.18% | ||
| FCFM | 30.55% |
ROA(3y)7.42%
ROA(5y)7.4%
ROE(3y)30.01%
ROE(5y)29.96%
ROIC(3y)8%
ROIC(5y)10.54%
ROICexc(3y)8.22%
ROICexc(5y)11.91%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)10%
ROCE(5y)13.18%
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3Y4.29%
ROICexc growth 5Y-15.93%
OM growth 3Y5.52%
OM growth 5Y3.69%
PM growth 3Y21.55%
PM growth 5Y4.39%
GM growth 3Y1.43%
GM growth 5Y0.13%
F-Score8
Asset Turnover0.41
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.07 | ||
| Debt/FCF | 2.87 | ||
| Debt/EBITDA | 3.1 | ||
| Cap/Depr | 22.78% | ||
| Cap/Sales | 1.02% | ||
| Interest Coverage | 28.61 | ||
| Cash Conversion | 111.55% | ||
| Profit Quality | 170.63% | ||
| Current Ratio | 0.51 | ||
| Quick Ratio | 0.51 | ||
| Altman-Z | 4.88 |
F-Score8
WACC10.89%
ROIC/WACC0.97
Cap/Depr(3y)27.47%
Cap/Depr(5y)32.2%
Cap/Sales(3y)1.59%
Cap/Sales(5y)1.72%
Profit Quality(3y)148.6%
Profit Quality(5y)185.51%
High Growth Momentum
Growth
EPS 1Y (TTM)7.69%
EPS 3Y8.4%
EPS 5Y12.41%
EPS Q2Q%3.23%
EPS Next Y14%
EPS Next 2Y12.68%
EPS Next 3Y13.91%
EPS Next 5Y14.99%
Revenue 1Y (TTM)10.45%
Revenue growth 3Y11.93%
Revenue growth 5Y12.93%
Sales Q2Q%10.22%
Revenue Next Year9.95%
Revenue Next 2Y10.16%
Revenue Next 3Y10.37%
Revenue Next 5Y9.16%
EBIT growth 1Y15.23%
EBIT growth 3Y18.11%
EBIT growth 5Y17.09%
EBIT Next Year16.45%
EBIT Next 3Y14.28%
EBIT Next 5Y10.9%
FCF growth 1Y27.87%
FCF growth 3Y15.91%
FCF growth 5Y22.26%
OCF growth 1Y23.69%
OCF growth 3Y14.76%
OCF growth 5Y20.58%