Comprehensive Stock Comparison
Compare Bentley Systems, Incorporated (BSY) vs Autodesk, Inc. (ADSK) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | BSY | 11.0% revenue growth vs ADSK's 10.5% |
| Value | ADSK | Lower P/E (24.0x vs 26.9x) |
| Quality / Margins | BSY | 18.5% net margin vs ADSK's 16.6% |
| Stability / Safety | BSY | Beta 0.79 vs ADSK's 0.93 |
| Dividends | BSY | 0.7% yield; 3-year raise streak; ADSK pays no meaningful dividend |
| Momentum (1Y) | ADSK | -10.3% vs BSY's -16.1% |
| Efficiency (ROA) | ADSK | 9.0% ROA vs BSY's 7.8%, ROIC 33.3% vs 11.4% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Bentley Systems provides infrastructure engineering software solutions for designing, constructing, and operating infrastructure assets like roads, bridges, and utilities. It generates revenue primarily through recurring subscription fees — accounting for over 90% of total revenue — with the remainder from perpetual licenses and professional services. The company's moat lies in its deep domain expertise and comprehensive software ecosystem that creates high switching costs for engineering professionals in specialized infrastructure sectors.
Autodesk is a leading provider of 3D design, engineering, and entertainment software used by architects, engineers, and creative professionals worldwide. It generates revenue primarily through subscription-based software sales—with its Architecture, Engineering & Construction segment contributing about 45% of revenue and Manufacturing about 35%—plus maintenance and cloud services. The company's moat lies in its industry-standard software ecosystems—particularly AutoCAD—that create high switching costs and network effects across professional workflows.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
BSY leads in 3 of 6 categories (Financial Metrics, Valuation Metrics). ADSK leads in 2 (Profitability & Efficiency, Total Returns). 1 tied.
Financial Metrics (TTM)
ADSK is the larger business by revenue, generating $6.8B annually — 4.5x BSY's $1.5B. Profitability is closely matched — net margins range from 18.5% (BSY) to 16.6% (ADSK). On growth, BSY holds the edge at +11.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | BSYBentley Systems, … | ADSKAutodesk, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $1.5B | $6.8B |
| EBITDAEarnings before interest/tax | $459M | $1.7B |
| Net IncomeAfter-tax profit | $278M | $1.1B |
| Free Cash FlowCash after capex | $520M | $2.4B |
| Gross MarginGross profit ÷ Revenue | +81.5% | +96.8% |
| Operating MarginEBIT ÷ Revenue | +24.1% | +23.3% |
| Net MarginNet income ÷ Revenue | +18.5% | +16.6% |
| FCF MarginFCF ÷ Revenue | +34.6% | +35.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | +11.9% | -6.5% |
| EPS Growth (YoY)Latest quarter vs prior year | +12.5% | +6.0% |
Valuation Metrics
At 43.0x trailing earnings, BSY trades at a 9% valuation discount to ADSK's 47.0x P/E. On an enterprise value basis, ADSK's 33.7x EV/EBITDA is more attractive than BSY's 33.7x.
| Metric | BSYBentley Systems, … | ADSKAutodesk, Inc. |
|---|---|---|
| Market CapShares × price | $11.1B | $52.6B |
| Enterprise ValueMkt cap + debt − cash | $12.2B | $53.1B |
| Trailing P/EPrice ÷ TTM EPS | 43.00x | 47.01x |
| Forward P/EPrice ÷ next-FY EPS est. | 26.86x | 24.02x |
| PEG RatioP/E ÷ EPS growth rate | 2.84x | — |
| EV / EBITDAEnterprise value multiple | 33.68x | 33.65x |
| Price / SalesMarket cap ÷ Revenue | 7.36x | 7.77x |
| Price / BookPrice ÷ Book value/share | 10.23x | 17.36x |
| Price / FCFMarket cap ÷ FCF | 21.24x | 21.84x |
Profitability & Efficiency
ADSK delivers a 36.9% return on equity — every $100 of shareholder capital generates $37 in annual profit, vs $23 for BSY. ADSK carries lower financial leverage with a 0.90x debt-to-equity ratio, signaling a more conservative balance sheet compared to BSY's 1.08x. On the Piotroski fundamental quality scale (0–9), BSY scores 9/9 vs ADSK's 7/9, reflecting strong financial health.
| Metric | BSYBentley Systems, … | ADSKAutodesk, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +23.4% | +36.9% |
| ROA (TTM)Return on assets | +7.8% | +9.0% |
| ROICReturn on invested capital | +11.4% | +33.3% |
| ROCEReturn on capital employed | +14.0% | +25.6% |
| Piotroski ScoreFundamental quality 0–9 | 9 | 7 |
| Debt / EquityFinancial leverage | 1.08x | 0.90x |
| Net DebtTotal debt minus cash | $1.2B | $485M |
| Cash & Equiv.Liquid assets | $123M | $2.2B |
| Total DebtShort + long-term debt | $1.3B | $2.7B |
| Interest CoverageEBIT ÷ Interest expense | 9.01x | 289.00x |
Total Returns (with DRIP)
A $10,000 investment in ADSK five years ago would be worth $8,649 today (with dividends reinvested), compared to $8,429 for BSY. Over the past 12 months, ADSK leads with a -10.3% total return vs BSY's -16.1%. The 3-year compound annual growth rate (CAGR) favors ADSK at 7.4% vs BSY's -2.7% — a key indicator of consistent wealth creation.
| Metric | BSYBentley Systems, … | ADSKAutodesk, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | -4.2% | -14.3% |
| 1-Year ReturnPast 12 months | -16.1% | -10.3% |
| 3-Year ReturnCumulative with dividends | -8.0% | +23.7% |
| 5-Year ReturnCumulative with dividends | -15.7% | -13.5% |
| 10-Year ReturnCumulative with dividends | +12.1% | +375.2% |
| CAGR (3Y)Annualised 3-year return | -2.7% | +7.4% |
Risk & Volatility
BSY is the less volatile stock with a 0.79 beta — it tends to amplify market swings less than ADSK's 0.93 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. ADSK currently trades 74.7% from its 52-week high vs BSY's 61.7% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | BSYBentley Systems, … | ADSKAutodesk, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.79x | 0.93x |
| 52-Week HighHighest price in past year | $59.25 | $329.09 |
| 52-Week LowLowest price in past year | $30.96 | $215.01 |
| % of 52W HighCurrent price vs 52-week peak | +61.7% | +74.7% |
| RSI (14)Momentum oscillator 0–100 | 59.1 | 42.9 |
| Avg Volume (50D)Average daily shares traded | 2.1M | 1.7M |
Analyst Outlook
Wall Street rates BSY as "Buy" and ADSK as "Buy". Consensus price targets imply 44.6% upside for ADSK (target: $356) vs 31.3% for BSY (target: $48). BSY is the only dividend payer here at 0.70% yield — a key consideration for income-focused portfolios.
| Metric | BSYBentley Systems, … | ADSKAutodesk, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $48.00 | $355.61 |
| # AnalystsCovering analysts | 12 | 51 |
| Dividend YieldAnnual dividend ÷ price | +0.7% | — |
| Dividend StreakConsecutive years of raises | 3 | 0 |
| Dividend / ShareAnnual DPS | $0.26 | — |
| Buyback YieldShare repurchases ÷ mkt cap | +1.1% | +2.7% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Sep 20 | Feb 26 | Change |
|---|---|---|---|
| Bentley Systems, In… (BSY) | 100 | 102.24 | +2.2% |
| Autodesk, Inc. (ADSK) | 100 | 109.24 | +9.2% |
Autodesk, Inc. (ADSK) returned -14% over 5 years vs Bentley Systems, In… (BSY)'s -16%.
Chart 2Revenue Growth — 10 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| Bentley Systems, In… (BSY) | $692M | $1.5B | +117.1% |
| Autodesk, Inc. (ADSK) | $2.0B | $6.8B | +235.1% |
Autodesk, Inc.'s revenue grew from $2.0B (2017) to $6.8B (2026) — a 14.4% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| Bentley Systems, In… (BSY) | 20.5% | 18.5% | -9.9% |
| Autodesk, Inc. (ADSK) | -28.6% | 16.6% | +157.9% |
Autodesk, Inc.'s net margin went from -29% (2017) to 17% (2026).
Chart 4P/E Ratio History — 7 Years
| Stock | 2020 | 2026 | Change |
|---|---|---|---|
| Bentley Systems, In… (BSY) | 96.5 | 44.9 | -53.5% |
| Autodesk, Inc. (ADSK) | 318.1 | 47 | -85.2% |
Bentley Systems, Incorporated has traded in a 45x–161x P/E range over 6 years; current trailing P/E is ~43x. Autodesk, Inc. has traded in a 47x–318x P/E range over 7 years; current trailing P/E is ~47x.
Chart 5EPS Growth — 10 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| Bentley Systems, In… (BSY) | 0.54 | 0.85 | +57.4% |
| Autodesk, Inc. (ADSK) | -2.6 | 5.23 | +301.2% |
Autodesk, Inc.'s EPS grew from $-2.60 (2017) to $5.23 (2026).
Chart 6Free Cash Flow — 5 Years
Bentley Systems, Incorporated generated $520M FCF in 2025 (+92% vs 2021). Autodesk, Inc. generated $2B FCF in 2026 (+80% vs 2021).
BSY vs ADSK: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is BSY or ADSK a better buy right now?
Bentley Systems, Incorporated (BSY) offers the better valuation at 43.0x trailing P/E (26.9x forward), making it the more compelling value choice. Analysts rate Bentley Systems, Incorporated (BSY) a "Buy" — based on 12 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — BSY or ADSK?
On trailing P/E, Bentley Systems, Incorporated (BSY) is the cheapest at 43.0x versus Autodesk, Inc. at 47.0x. On forward P/E, Autodesk, Inc. is actually cheaper at 24.0x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — BSY or ADSK?
Over the past 5 years, Autodesk, Inc. (ADSK) delivered a total return of -13.5%, compared to -15.7% for Bentley Systems, Incorporated (BSY). A $10,000 investment in ADSK five years ago would be worth approximately $9K today (assuming dividends reinvested). Over 10 years, the gap is even starker: ADSK returned +375.2% versus BSY's +12.1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — BSY or ADSK?
By beta (market sensitivity over 5 years), Bentley Systems, Incorporated (BSY) is the lower-risk stock at 0.79β versus Autodesk, Inc.'s 0.93β — meaning ADSK is approximately 17% more volatile than BSY relative to the S&P 500. On balance sheet safety, Autodesk, Inc. (ADSK) carries a lower debt/equity ratio of 90% versus 108% for Bentley Systems, Incorporated — giving it more financial flexibility in a downturn.
05Which has better profit margins — BSY or ADSK?
Bentley Systems, Incorporated (BSY) is the more profitable company, earning 18.5% net margin versus 16.6% for Autodesk, Inc. — meaning it keeps 18.5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BSY leads at 24.1% versus 23.3% for ADSK. At the gross margin level — before operating expenses — ADSK leads at 96.8%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is BSY or ADSK more undervalued right now?
On forward earnings alone, Autodesk, Inc. (ADSK) trades at 24.0x forward P/E versus 26.9x for Bentley Systems, Incorporated — 2.8x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for ADSK: 44.6% to $355.61.
07Which pays a better dividend — BSY or ADSK?
In this comparison, BSY (0.7% yield) pays a dividend. ADSK does not pay a meaningful dividend and should not be held primarily for income.
08Is BSY or ADSK better for a retirement portfolio?
For long-horizon retirement investors, Bentley Systems, Incorporated (BSY) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.79), 0.7% yield). Both have compounded well over 10 years (BSY: +12.1%, ADSK: +375.2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between BSY and ADSK?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. BSY pays a dividend while ADSK does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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