📊 BSY Key Takeaways
Is Bentley Systems Inc. (BSY) a Good Investment?
Bentley Systems demonstrates strong software fundamentals with 82.6% gross margins, 11% revenue growth, and exceptional 44.3% FCF margins indicating high-quality cash generation. However, the current ratio of 0.51x raises significant liquidity concerns, and flat net income growth despite revenue expansion suggests margin compression that requires monitoring.
Bentley Systems shows strong software fundamentals with high gross margins, solid operating profitability, and exceptional free cash flow generation. Revenue growth of 11.0% and a 34.6% FCF margin indicate durable business quality, though flat net income and a weak current ratio suggest some caution around earnings conversion and balance sheet flexibility.
Bentley Systems Inc. Key Strengths (BSY)
- Exceptional free cash flow generation at 44.3% margin ($187.9M FCF) with minimal capital intensity
- High gross margins (82.6%) and strong operating margins (29.8%) demonstrating pricing power and software quality
- Solid revenue growth at 11% YoY with strong interest coverage ratio of 16.8x indicating financial stability
- High-margin software model with 81.5% gross margin and 24.1% operating margin
- Strong cash generation with $538.46M operating cash flow and $520.21M free cash flow
- Healthy profitability profile with 23.4% ROE and very strong 47.8x interest coverage
BSY Stock Risks: Bentley Systems Inc. Investment Risks
- Critical liquidity concern with current ratio of 0.51x indicating current liabilities exceed current assets
- Net income flat YoY despite 11% revenue growth signals margin compression or rising operational costs
- Leverage of 0.91x debt-to-equity combined with low ROE (7.8%) and ROA (2.7%) suggests capital efficiency issues
- Net income was flat year over year despite revenue growth, which may signal margin or cost pressure below the operating line
- Low current and quick ratios of 0.56x indicate limited short-term liquidity cushion
- Leverage remains meaningful with $1.25B long-term debt and debt-to-equity of 1.05x
Key Metrics to Watch
- Quarterly current ratio trend and working capital management
- Net income growth acceleration relative to revenue growth - margin recovery essential
- Operating cash flow sustainability and percentage of revenue conversion
- Net income growth relative to revenue growth
- Current ratio and debt reduction trend
Bentley Systems Inc. (BSY) Financial Metrics & Key Ratios
💡 AI Analyst Insight
The 44.3% free cash flow margin provides substantial flexibility for dividends, buybacks, and strategic investments. The current ratio below 1.0x warrants monitoring of short-term liquidity.
BSY Profit Margin, ROE & Profitability Analysis
BSY vs Technology Sector: How Bentley Systems Inc. Compares
How Bentley Systems Inc. compares to Technology sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is Bentley Systems Inc. Stock Overvalued? BSY Valuation Analysis 2026
Based on fundamental analysis, Bentley Systems Inc. has mixed fundamental signals relative to the Technology sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
Bentley Systems Inc. Balance Sheet: BSY Debt, Cash & Liquidity
BSY Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: Bentley Systems Inc.'s revenue has grown significantly by 56% over the 5-year period, indicating strong business expansion. The most recent EPS of $1.00 reflects profitable operations.
BSY Revenue Growth, EPS Growth & YoY Performance
BSY Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2026 | $370.5M | $91.4M | $0.28 |
| Q3 2025 | $335.2M | $42.3M | $0.13 |
| Q2 2025 | $330.3M | $70.5M | $0.22 |
| Q1 2025 | $337.8M | $70.3M | $0.22 |
| Q3 2024 | $306.6M | $42.3M | $0.13 |
| Q2 2024 | $296.7M | $48.7M | $0.15 |
| Q1 2024 | $314.4M | $45.5M | $0.14 |
| Q3 2023 | $268.3M | $37.0M | $0.12 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
Bentley Systems Inc. Dividends, Buybacks & Capital Allocation
BSY SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for Bentley Systems Inc. (CIK: 0001031308)
📋 Recent SEC Filings
❓ Frequently Asked Questions about BSY
What is the AI rating for BSY?
Bentley Systems Inc. (BSY) has a Combined AI Grade of A from Claude (B) and ChatGPT (A) with 74% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are BSY's key strengths?
Claude: Exceptional free cash flow generation at 44.3% margin ($187.9M FCF) with minimal capital intensity. High gross margins (82.6%) and strong operating margins (29.8%) demonstrating pricing power and software quality. ChatGPT: High-margin software model with 81.5% gross margin and 24.1% operating margin. Strong cash generation with $538.46M operating cash flow and $520.21M free cash flow.
What are the risks of investing in BSY?
Claude: Critical liquidity concern with current ratio of 0.51x indicating current liabilities exceed current assets. Net income flat YoY despite 11% revenue growth signals margin compression or rising operational costs. ChatGPT: Net income was flat year over year despite revenue growth, which may signal margin or cost pressure below the operating line. Low current and quick ratios of 0.56x indicate limited short-term liquidity cushion.
What is BSY's revenue and growth?
Bentley Systems Inc. reported revenue of $424.2M.
Does BSY pay dividends?
Bentley Systems Inc. pays dividends, with $21.2M distributed to shareholders in the trailing twelve months.
Where can I find BSY SEC filings?
Official SEC filings for Bentley Systems Inc. (CIK: 0001031308) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is BSY's EPS?
Bentley Systems Inc. has a diluted EPS of $0.30.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined grade reflects both perspectives for balanced insights.
What is BSY's fundamental grade?
Based on our AI fundamental analysis in June 2026, Bentley Systems Inc. has a A grade with 74% confidence. The AI analysis suggests favorable fundamentals based on SEC filings. This is not investment advice.
Is BSY stock overvalued or undervalued?
Valuation metrics for BSY: ROE of 7.8% (sector avg: 22%), net margin of 22.5% (sector avg: 18%). Compare these metrics with sector averages to assess valuation.
What is BSY's AI grade for 2026?
Our dual AI analysis gives Bentley Systems Inc. a combined A grade for 2026. Revenue is data pending, with profitability above sector average. Always conduct your own research.
What is BSY's free cash flow?
Bentley Systems Inc.'s operating cash flow is $193.4M, with capital expenditures of $5.6M. FCF margin is 44.3%.
How does BSY compare to other Technology stocks?
Vs Technology sector averages: Net margin 22.5% (avg: 18%), ROE 7.8% (avg: 22%), current ratio 0.51 (avg: 2.5).