Reading the annual reports…
First time this company is opened: we are analysing its official reports. This can take up to a minute; after that the page loads instantly.
First time this company is opened: we are analysing its official reports. This can take up to a minute; after that the page loads instantly.
BSY · Nasdaq · United States · Services-Prepackaged Software
In shortBENTLEY SYSTEMS INC is profitable, generates cash and carries moderate debt, with revenue growing (+11.0% last year).
Financial health
Strong
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 24.1% | 97/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 18.5% | 94/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 24.9% | 100/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 11.8% | 79/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 0.56× | 0/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 1.05× | 53/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | 3.10× | 26/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 47.83× | 100/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 0.40 | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 34.6% | 100/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 1.87× | 100/100 |
| Years with positive free cash flow (last 5) | 5 of 5 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 5 | 100/100 |
| Revenue growth volatility | 4.1% | 96/100 |
| Operating margin volatility | 5.5% | 59/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 11.0% | 78/100 |
|---|---|---|
| EPS growth, 3-year average | 15.6% | 100/100 |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
3 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 965 | 1,099 | 1,228 | 1,353 | 1,502 |
| Cost of revenue | 217 | 237 | 266 | 258 | 278 |
| Gross profit | 749 | 862 | 962 | 1,095 | 1,224 |
| Research & development | 221 | 258 | 275 | 281 | 308 |
| Operating income | 95 | 209 | 231 | 302 | 363 |
| Interest expense | 12 | 35 | 35 | 17 | 7.6 |
| Pre-tax income | 93 | 198 | 184 | 293 | 351 |
| Income tax | (3.4) | 21 | (143) | 59 | 73 |
| Net income | 93 | 175 | 327 | 235 | 278 |
| Diluted EPS | $0.30 | $0.55 | $1.00 | $0.72 | $0.85 |
| Diluted shares (millions) | 315 | 332 | 333 | 334 | 333 |
3 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 8 reported quarters (10-Q and 10-K filings), in USD millions. The fourth quarter is derived from the annual report.
The last 8 quarters of BENTLEY SYSTEMS INC are included in the Investor plan. Try free for 7 days →
0.40 Distress zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
9/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2026 · Data updated Aug 6, 2026