Bentley Systems, Incorporated (BSY) Financial Ratios
8 years of historical data (2018–2025) · Technology · Software - Application
EV/EBITDA
↓
22.75
↓-63% vs avg
5yr avg: 62.00
30Y Low32.4·High66.0
P/FCF
↓
16.51
↓-61% vs avg
5yr avg: 41.98
30Y Low24.4·High56.2
P/B Ratio
↓
8.23
↓-60% vs avg
5yr avg: 20.76
30Y Low10.7·High37.2
ROE
↑
24.9%
-19% vs avg
5yr avg: 30.9%
30Y Low24%·High96%
Debt/EBITDA
↓
3.00
↓-49% vs avg
5yr avg: 5.88
30Y Low1.3·High10.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
BSY Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Bentley Systems, Incorporated trades at 34.6x earnings, 56% below its 5-year average of 78.6x, sitting at the 0th percentile of its historical range. Compared to the Technology sector median P/E of 29.0x, the stock trades at a premium of 19%. On a free-cash-flow basis, the stock trades at 16.5x P/FCF, 61% below the 5-year average of 42.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $8.6B | $12.7B | $15.6B | $17.4B | $12.3B | $15.2B | $12.1B | — | — |
| Enterprise Value | $9.7B | $13.9B | $16.9B | $18.9B | $14.0B | $16.4B | $12.3B | — | — |
| P/E Ratio → | 34.56 | 44.90 | 64.86 | 52.18 | 69.74 | 161.10 | 96.45 | — | — |
| P/S Ratio | 5.72 | 8.46 | 11.52 | 14.12 | 11.16 | 15.76 | 15.13 | — | — |
| P/B Ratio | 8.23 | 10.69 | 14.97 | 19.63 | 21.38 | 37.16 | 35.50 | — | — |
| P/FCF | 16.51 | 24.44 | 37.00 | 44.29 | 47.94 | 56.21 | 50.14 | — | — |
| P/OCF | 15.95 | 23.61 | 35.81 | 41.64 | 44.70 | 52.79 | 46.94 | — | — |
P/E links to full P/E history page with 30-year chart
BSY EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Bentley Systems, Incorporated's enterprise value stands at 22.8x EBITDA, 63% below its 5-year average of 62.0x. The Technology sector median is 16.7x, placing the stock at a 36% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.24 | 12.53 | 15.35 | 12.75 | 16.96 | 15.35 | — | — |
| EV / EBITDA | 22.75 | 32.38 | 46.22 | 64.10 | 50.02 | 117.28 | 66.03 | — | — |
| EV / EBIT | 26.88 | 38.20 | 53.33 | 83.84 | 60.06 | 152.38 | 70.35 | — | — |
| EV / FCF | — | 26.67 | 40.24 | 48.13 | 54.79 | 60.50 | 50.85 | — | — |
BSY Profitability
Margins and return-on-capital ratios measuring operating efficiency
Bentley Systems, Incorporated earns an operating margin of 24.1%. Operating margins have expanded from 18.8% to 24.1% over the past 3 years, signaling improving operational efficiency. ROE of 24.9% indicates solid capital efficiency. ROIC of 11.4% represents solid returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 81.5% | 81.5% | 80.9% | 74.1% | 78.4% | 77.6% | 79.1% | 80.4% | 81.0% |
| Operating Margin | 24.1% | 24.1% | 22.3% | 18.8% | 19.0% | 9.8% | 18.7% | 19.3% | 17.5% |
| Net Profit Margin | 18.5% | 18.5% | 17.4% | 26.6% | 15.9% | 9.7% | 15.8% | 14.0% | 20.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | 24.9% | 24.9% | 24.4% | 44.8% | 35.6% | 24.8% | 37.4% | 42.8% | 96.4% |
| ROA | 8.0% | 8.0% | 7.0% | 10.1% | 6.0% | 4.9% | 11.9% | 10.7% | 15.4% |
| ROIC | 11.4% | 11.4% | 9.5% | 7.3% | 8.0% | 6.8% | 23.4% | 27.6% | 28.0% |
| ROCE | 14.0% | 14.0% | 11.7% | 9.0% | 9.1% | 6.9% | 23.8% | 26.0% | 24.9% |
BSY Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Bentley Systems, Incorporated carries a Debt/EBITDA ratio of 3.0x, which is moderately leveraged (roughly in line with the sector average of 2.9x). Net debt stands at $1.2B ($1.3B total debt minus $123M cash). Interest coverage of 29.2x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.08 | 1.08 | 1.37 | 1.78 | 3.18 | 3.64 | 0.86 | 0.70 | 1.76 |
| Debt / EBITDA | 3.00 | 3.00 | 3.89 | 5.34 | 6.51 | 10.67 | 1.58 | 1.34 | 1.75 |
| Net Debt / Equity | — | 0.98 | 1.31 | 1.70 | 3.05 | 2.83 | 0.50 | 0.34 | 1.20 |
| Net Debt / EBITDA | 2.71 | 2.71 | 3.72 | 5.11 | 6.25 | 8.31 | 0.93 | 0.65 | 1.20 |
| Debt / FCF | — | 2.23 | 3.23 | 3.84 | 6.85 | 4.29 | 0.71 | 0.73 | 1.25 |
| Interest Coverage | 29.21 | 29.21 | 12.83 | 5.44 | 6.66 | 9.32 | 22.09 | 14.17 | 12.75 |
BSY Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.56x is below 1.0, meaning current liabilities exceed current assets.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.56 | 0.56 | 0.54 | 0.55 | 0.66 | 1.04 | 0.73 | 0.90 | 0.65 |
| Quick Ratio | 0.56 | 0.56 | 0.54 | 0.55 | 0.66 | 1.04 | 0.73 | 0.90 | 0.65 |
| Cash Ratio | 0.13 | 0.13 | 0.08 | 0.09 | 0.11 | 0.55 | 0.26 | 0.31 | 0.19 |
| Asset Turnover | — | 0.42 | 0.40 | 0.37 | 0.35 | 0.36 | 0.71 | 0.74 | 0.75 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 85.14 | 84.83 | 87.22 | 95.34 | 88.98 | 86.53 | 101.33 | 97.39 |
BSY Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Bentley Systems, Incorporated returns 2.7% to shareholders annually — split between a 0.9% dividend yield and 1.8% buyback yield. The payout ratio of 30.6% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 2.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.9% | 0.7% | 0.5% | 0.3% | 0.3% | 0.2% | 3.5% | — | — |
| Payout Ratio | 30.6% | 30.6% | 30.7% | 18.0% | 19.7% | 35.8% | 334.1% | 24.2% | 14.1% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.9% | 2.2% | 1.5% | 1.9% | 1.4% | 0.6% | 1.0% | — | — |
| FCF Yield | 6.1% | 4.1% | 2.7% | 2.3% | 2.1% | 1.8% | 2.0% | — | — |
| Buyback Yield | 1.8% | 1.2% | 0.5% | 0.3% | 0.6% | 0.8% | 0.7% | — | — |
| Total Shareholder Yield | 2.7% | 1.9% | 1.0% | 0.7% | 0.9% | 1.0% | 4.2% | — | — |
| Shares Outstanding | — | $333M | $334M | $333M | $332M | $315M | $299M | $261M | $261M |
Peer Comparison
Compare BSY with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 BSYYou | $9B | 34.6 | 22.8 | 16.5 | 81.5% | 24.1% | 24.9% | 11.4% | 3.0 |
 ADSK | $41B | 37.1 | 20.8 | 17.0 | 91.0% | 24.9% | 39.7% | 37.8% | 1.4 |
 CDNS | $107B | 95.4 | 56.5 | 67.4 | 86.4% | 31.1% | 21.9% | 25.9% | 1.3 |
 PTC | $14B | 18.9 | 13.3 | 15.9 | 83.8% | 35.9% | 20.9% | 14.9% | 1.2 |
 TRMB | $12B | 28.1 | 16.2 | 87.4 | 68.3% | 16.9% | 7.3% | 6.8% | 1.8 |
 CAT | $459B | 52.4 | 36.5 | 44.6 | 32.3% | 16.6% | 43.5% | 15.9% | 3.2 |
 VMC | $39B | 37.3 | 19.1 | 34.6 | 27.3% | 20.1% | 13.0% | 8.8% | 2.3 |
 PWR | $105B | 103.3 | 42.8 | 65.0 | 13.0% | 5.8% | 12.6% | 11.8% | 0.5 |
 J | $14B | 50.8 | 14.3 | 23.5 | 24.8% | 7.2% | 5.8% | 9.9% | 2.5 |
 ACM | $9B | 16.3 | 8.8 | 12.9 | 7.5% | 6.4% | 22.2% | 18.6% | 2.8 |
 MSFT | $2.8T | 27.8 | 17.8 | 39.4 | 68.8% | 45.6% | 33.3% | 24.9% | 0.7 |
| Technology Median | — | 29.0 | 16.7 | 19.2 | 48.8% | 0.2% | 1.6% | 2.7% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 8 years · Updated daily
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BSY — Frequently Asked Questions
Quick answers to the most common questions about buying BSY stock.
What is Bentley Systems, Incorporated's P/E ratio?
Bentley Systems, Incorporated's current P/E ratio is 34.6x. The historical average is 81.5x.
What is Bentley Systems, Incorporated's EV/EBITDA?
Bentley Systems, Incorporated's current EV/EBITDA is 22.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 51.7x.
What is Bentley Systems, Incorporated's ROE?
Bentley Systems, Incorporated's return on equity (ROE) is 24.9%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 41.4%.
Is BSY stock overvalued?
Based on historical data, Bentley Systems, Incorporated is trading at a P/E of 34.6x. Compare with industry peers and growth rates for a complete picture.
What is Bentley Systems, Incorporated's dividend yield?
Bentley Systems, Incorporated's current dividend yield is 0.87% with a payout ratio of 30.6%.
What are Bentley Systems, Incorporated's profit margins?
Bentley Systems, Incorporated has 81.5% gross margin and 24.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Bentley Systems, Incorporated have?
Bentley Systems, Incorporated's Debt/EBITDA ratio is 3.0x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.