Financials Bentley Systems, Incorporated

Equities

BSY

US08265T2087

Software

Market Closed - Nasdaq 04:00:00 2024-04-26 pm EDT 5-day change 1st Jan Change
53.99 USD -0.70% Intraday chart for Bentley Systems, Incorporated +2.92% +3.47%

Valuation

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 12,134 14,878 11,455 16,376 17,130 - -
Enterprise Value (EV) 1 12,258 15,985 13,164 16,376 18,365 18,074 17,827
P/E ratio 96.5 x 161 x 67.2 x 52.2 x 76.5 x 62.6 x 49.8 x
Yield 4% 0.25% 0.32% - 0.44% 0.47% 0.59%
Capitalization / Revenue 15.1 x 15.4 x 10.4 x 13.3 x 12.5 x 11.3 x 9.98 x
EV / Revenue 15.3 x 16.6 x 12 x 13.3 x 13.4 x 12 x 10.4 x
EV / EBITDA 46 x 49.2 x 35.9 x 39.3 x 38.8 x 33.4 x 28.6 x
EV / FCF 50.5 x 59.1 x 51.5 x - 50.7 x 42.7 x 30.5 x
FCF Yield 1.98% 1.69% 1.94% - 1.97% 2.34% 3.28%
Price to Book - 36.4 x 3.87 x - 5.24 x 4.99 x -
Nbr of stocks (in thousands) 299,521 307,849 309,928 313,834 317,281 - -
Reference price 2 40.51 48.33 36.96 52.18 53.99 53.99 53.99
Announcement Date 3/2/21 3/1/22 2/28/23 2/27/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 736.7 801.5 965 1,099 1,228 1,365 1,512 1,717
EBITDA 1 - 266.2 324.9 366.4 416.8 473.7 540.9 624.1
EBIT 1 - 250.8 306.2 348.5 396.1 450.7 521 598.9
Operating Margin - 31.29% 31.72% 31.71% 32.25% 33.01% 34.47% 34.88%
Earnings before Tax (EBT) 1 - 167.6 93.33 198.3 183.5 297.6 363.2 444.4
Net income 1 - 126.3 93.18 174.7 326.8 212.7 264.2 351.1
Net margin - 15.76% 9.66% 15.9% 26.6% 15.58% 17.48% 20.45%
EPS 2 0.3500 0.4200 0.3000 0.5500 1.000 0.7060 0.8620 1.085
Free Cash Flow 1 - 242.8 270.5 255.8 - 362.5 423.6 584
FCF margin - 30.3% 28.03% 23.27% - 26.55% 28.02% 34.01%
FCF Conversion (EBITDA) - 91.23% 83.24% 69.8% - 76.53% 78.3% 93.58%
FCF Conversion (Net income) - 192.3% 290.27% 146.38% - 170.42% 160.35% 166.33%
Dividend per Share 2 - 1.620 0.1200 0.1200 - 0.2390 0.2524 0.3200
Announcement Date 8/21/20 3/2/21 3/1/22 2/28/23 2/27/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 251.4 267.7 275.5 268.3 268.3 286.9 314.4 296.7 306.6 310.6 341.6 331.1 340.8 351.1 378
EBITDA 1 84.47 88.17 97.62 86.52 89.74 92.56 114 95.55 109.2 98.08 130.9 110.1 113.6 118.6 146.2
EBIT 1 79.34 83.32 93.33 81.67 85.4 88.09 109.7 90.93 104.4 91.19 118.7 105.3 114.6 112.1 134.1
Operating Margin 31.56% 31.12% 33.88% 30.44% 31.83% 30.7% 34.88% 30.64% 34.04% 29.36% 34.75% 31.81% 33.63% 31.92% 35.47%
Earnings before Tax (EBT) 1 -45.24 40.87 60.19 51.59 47.34 39.15 54.98 44.79 69.58 14.17 75.2 73 77.45 82.65 89.8
Net income 1 -50.13 38.58 56.38 55.66 36.99 25.71 45.49 48.68 53.03 179.6 55.77 48.33 54.48 54.18 65.53
Net margin -19.94% 14.41% 20.46% 20.75% 13.78% 8.96% 14.47% 16.41% 17.29% 57.81% 16.33% 14.59% 15.99% 15.43% 17.34%
EPS 2 -0.1600 0.1200 0.1800 0.1700 0.1200 0.0800 0.1400 0.1500 0.1600 0.5400 0.1800 0.1700 0.1800 0.1833 0.2200
Dividend per Share 2 - - - 0.0300 0.0300 0.0300 0.0500 0.0500 0.0500 - 0.0600 0.0600 0.0600 0.0600 -
Announcement Date 11/9/21 3/1/22 5/10/22 8/9/22 11/8/22 2/28/23 5/9/23 8/8/23 11/7/23 2/27/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - 124 1,107 1,709 - 1,235 944 697
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) - 0.4658 x 3.406 x 4.664 x - 2.607 x 1.745 x 1.117 x
Free Cash Flow 1 - 243 270 256 - 362 424 584
ROE (net income / shareholders' equity) - 56.4% 71.1% 55.9% - 30.3% 27.3% 23.8%
ROA (Net income/ Total Assets) - - - 9.43% - 52% 40.9% -
Assets 1 - - - 1,854 - 409.1 645.8 -
Book Value Per Share 2 - - 1.330 9.540 - 10.30 10.80 -
Cash Flow per Share 2 - 0.8600 0.9200 0.8300 - 1.160 1.320 -
Capex 1 - 15.5 17.5 18.5 - 21.8 25.2 26.3
Capex / Sales - 1.93% 1.82% 1.69% - 1.6% 1.67% 1.53%
Announcement Date 8/21/20 3/2/21 3/1/22 2/28/23 2/27/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
53.99 USD
Average target price
58.32 USD
Spread / Average Target
+8.01%
Consensus
  1. Stock Market
  2. Equities
  3. BSY Stock
  4. Financials Bentley Systems, Incorporated