Bentley Systems (BSY) Financials

$44.00 +0.15 (+0.33%)

As of 03:00 PM Eastern

Annual Income Statements for Bentley Systems

This table shows Bentley Systems' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	142	103	126	93	175	327	235
Consolidated Net Income / (Loss)	142	103	127	93	175	327	234
Net Income / (Loss) Continuing Operations	142	103	127	93	175	327	234
Total Pre-Tax Income	113	128	168	93	198	184	293
Total Operating Income	121	142	150	95	209	231	302
Total Gross Profit	560	593	634	749	862	962	1,095
Total Revenue	692	737	802	965	1,099	1,228	1,353
Operating Revenue	692	737	802	965	1,099	1,228	1,353
Total Cost of Revenue	131	144	167	217	237	266	258
Operating Cost of Revenue	131	144	167	217	237	266	258
Total Operating Expenses	439	451	484	654	653	732	793
Selling, General & Admin Expense	89	97	139	150	175	181	210
Marketing Expense	161	155	144	162	196	224	255
Research & Development Expense	175	184	186	221	258	275	281
Amortization Expense	14	14	15	26	41	39	34
Other Operating Expenses / (Income)	-	0.41	0.18	95	-16	14	12
Total Other Income / (Expense), net	-8.53	-14	17	-1.26	-10	-47	-9.10
Interest & Investment Income	-8.77	-8.20	-6.78	-11	-35	-40	-22
Other Income / (Expense), net	0.24	-5.56	24	9.96	24	-7.22	13
Income Tax Expense	-29	24	39	-3.45	21	-143	59
Other Gains / (Losses), net	0.00	-1.28	-2.47	-3.59	-2.21	0.02	0.10
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	0.01	0.23	-	0.00	0.00	-0.35
Basic Earnings per Share	$0.50	$0.36	$0.44	$0.30	$0.57	$1.05	$0.75
Weighted Average Basic Shares Outstanding	285.81M	284.63M	289.86M	305.71M	309.23M	312.36M	314.89M
Diluted Earnings per Share	$0.49	$0.35	$0.42	$0.30	$0.55	$1.00	$0.72
Weighted Average Diluted Shares Outstanding	292.62M	293.80M	299.37M	314.61M	331.77M	332.50M	333.77M
Weighted Average Basic & Diluted Shares Outstanding	-	-	273.22M	283.89M	290.43M	297.33M	303.10M
Cash Dividends to Common per Share	$0.08	$0.10	$1.62	$0.12	$0.12	$0.20	$0.24

This table shows Bentley Systems' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	37	26	45	49	53	180	70	72	42	50
Consolidated Net Income / (Loss)	37	26	45	49	53	180	70	72	42	50
Net Income / (Loss) Continuing Operations	37	26	45	49	53	180	70	72	42	50
Total Pre-Tax Income	47	39	55	45	70	14	93	77	59	64
Total Operating Income	56	41	66	53	74	38	92	80	69	61
Total Gross Profit	209	225	247	230	242	243	276	267	270	282
Total Revenue	268	287	314	297	307	311	338	330	335	350
Operating Revenue	268	287	314	297	307	311	338	330	335	350
Total Cost of Revenue	59	62	67	66	65	68	62	63	65	68
Operating Cost of Revenue	59	62	67	66	65	68	62	63	65	68
Total Operating Expenses	154	184	181	177	168	205	184	187	202	220
Selling, General & Admin Expense	38	46	47	39	43	52	46	55	51	58
Marketing Expense	46	54	52	54	54	64	54	57	65	79
Research & Development Expense	64	68	68	70	65	71	68	66	70	77
Amortization Expense	10	10	11	9.50	9.52	8.95	8.96	8.39	8.36	8.28
Other Operating Expenses / (Income)	-4.58	6.09	4.15	3.78	-3.16	8.82	5.80	0.88	6.98	-1.28
Total Other Income / (Expense), net	-8.20	-1.61	-11	-8.52	-4.09	-24	0.62	-2.82	-9.76	2.86
Interest & Investment Income	-9.13	-11	-11	-9.48	-10	-9.17	-6.52	-5.10	-4.67	-5.76
Other Income / (Expense), net	0.93	9.51	0.29	0.97	5.95	-14	7.14	2.28	-5.09	8.62
Income Tax Expense	9.66	13	9.49	-3.90	17	-165	22	5.33	17	15
Other Gains / (Losses), net	-0.68	-0.37	0.00	0.00	-0.04	0.06	0.01	0.02	-0.01	0.09
Basic Earnings per Share	$0.12	$0.09	$0.15	$0.16	$0.17	$0.57	$0.22	$0.23	$0.13	$0.17
Weighted Average Basic Shares Outstanding	310.12M	309.23M	310.76M	311.91M	313.07M	312.36M	314.30M	314.98M	315.21M	314.89M
Diluted Earnings per Share	$0.12	$0.08	$0.14	$0.15	$0.16	$0.55	$0.22	$0.22	$0.13	$0.15
Weighted Average Diluted Shares Outstanding	325.17M	331.77M	331.25M	332.35M	332.83M	332.50M	333.62M	333.78M	333.79M	333.77M
Weighted Average Basic & Diluted Shares Outstanding	288.39M	290.43M	293.37M	294.97M	295.92M	297.33M	300.00M	302.16M	302.25M	303.10M

This table details how cash moves in and out of Bentley Systems' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-53	40	0.91	207	-258	-3.27	-4.40
Net Cash From Operating Activities	161	171	258	288	274	417	435
Net Cash From Continuing Operating Activities	161	171	258	288	274	417	435
Net Income / (Loss) Continuing Operations	142	103	127	93	175	327	234
Consolidated Net Income / (Loss)	142	103	127	93	175	327	234
Depreciation Expense	29	32	36	53	72	72	65
Amortization Expense	0.55	0.55	0.99	5.96	7.29	7.29	7.34
Non-Cash Adjustments To Reconcile Net Income	13	20	7.75	54	84	94	81
Changes in Operating Assets and Liabilities, net	-23	15	87	82	-63	-83	47
Net Cash From Investing Activities	-155	-54	-117	-1,057	-770	-61	-143
Net Cash From Continuing Investing Activities	-155	-54	-117	-1,057	-770	-61	-143
Purchase of Property, Plant & Equipment	-19	-17	-16	-18	-19	-25	-14
Acquisitions	-135	-34	-93	-1,035	-743	-26	-130
Purchase of Investments	-	-	-	-4.08	-11	-12	-1.44
Sale of Property, Plant & Equipment	-	-	0.00	0.00	2.38	0.00	0.00
Sale and/or Maturity of Investments	-	-	-	0.00	0.00	2.12	0.00
Other Investing Activities, net	0.00	-3.00	-7.85	-	0.00	0.00	2.62
Net Cash From Financing Activities	-59	-77	-137	983	243	-359	-290
Net Cash From Continuing Financing Activities	-59	-77	-137	983	243	-359	-290
Repayment of Debt	-160	-227	-668	-997	-494	-847	-671
Repurchase of Common Equity	-46	-24	-1.37	0.00	-28	0.00	-64
Payment of Dividends	-20	-25	-423	-33	-34	-59	-72
Issuance of Debt	148	191	676	2,178	833	588	518
Issuance of Common Equity	19	8.14	363	9.45	19	22	15
Other Financing Activities, net	0.01	0.00	-84	-175	-52	-63	-16
Effect of Exchange Rate Changes	-1.19	-0.11	-3.59	-6.67	-4.88	-0.39	-6.58
Cash Interest Paid	8.86	9.22	8.01	4.63	27	37	17
Cash Income Taxes Paid	26	28	29	40	29	44	60

This table details how cash moves in and out of Bentley Systems' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	-21	-1.17	22	-11	-16	1.45	73	-90	21	-8.17
Net Cash From Operating Activities	69	36	176	81	73	87	205	63	86	82
Net Cash From Continuing Operating Activities	69	36	176	81	73	87	205	63	86	82
Net Income / (Loss) Continuing Operations	37	26	45	49	53	180	70	72	42	50
Consolidated Net Income / (Loss)	37	26	45	49	53	180	70	72	42	50
Depreciation Expense	18	18	18	17	17	19	16	16	16	16
Amortization Expense	1.82	1.82	1.82	1.82	1.82	1.82	1.82	1.93	1.80	1.78
Non-Cash Adjustments To Reconcile Net Income	24	18	21	17	22	34	18	24	15	24
Changes in Operating Assets and Liabilities, net	-11	-27	90	-4.10	-21	-148	99	-52	10	-9.80
Net Cash From Investing Activities	-16	-30	-21	-8.99	-21	-9.26	-3.85	-7.10	-125	-7.59
Net Cash From Continuing Investing Activities	-16	-30	-21	-8.99	-21	-9.26	-3.85	-7.10	-125	-7.59
Purchase of Property, Plant & Equipment	-6.39	-5.56	-4.28	-6.97	-7.65	-6.10	-3.60	-3.09	-1.81	-5.55
Acquisitions	-5.34	-23	-10	-	-13	-2.91	0.00	-5.00	-124	-1.63
Purchase of Investments	-4.74	-0.65	-6.18	-2.02	-3.15	-0.25	-0.25	-0.31	-0.25	-0.63
Other Investing Activities, net	-	-	-	-	-	-	-	-	1.10	0.22
Net Cash From Financing Activities	-71	-12	-134	-82	-64	-79	-126	-145	58	-77
Net Cash From Continuing Financing Activities	-71	-12	-134	-82	-64	-79	-126	-145	58	-77
Repayment of Debt	-146	-82	-224	-211	-203	-208	-134	-114	-99	-323
Repurchase of Common Equity	-15	-	0.00	-	-	-	-15	-23	-8.25	-19
Payment of Dividends	-8.67	-8.67	-15	-15	-15	-15	-18	-18	-18	-18
Issuance of Debt	95	80	117	171	154	146	40	12	182	284
Other Financing Activities, net	-3.63	-2.81	-21	-33	-6.50	-2.70	-8.55	-1.53	-4.14	-1.31
Effect of Exchange Rate Changes	-2.46	4.04	0.66	-0.72	-3.04	2.71	-1.50	-1.25	1.75	-5.58
Cash Interest Paid	7.12	8.93	10	8.91	9.99	8.02	5.26	3.45	3.42	5.07
Cash Income Taxes Paid	9.09	8.78	6.10	12	11	14	12	12	10	26

This table presents Bentley Systems' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	995	1,126	2,659	3,165	3,320	3,400
Total Current Assets	354	340	616	416	420	442
Cash & Equivalents	121	122	329	72	68	64
Accounts Receivable	205	190	235	287	294	314
Prepaid Expenses	23	25	34	39	45	51
Current Deferred & Refundable Income Taxes	4.54	3.54	17	18	13	13
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	641	786	2,043	2,749	2,900	2,958
Goodwill	480	581	1,588	2,237	2,269	2,367
Intangible Assets	46	46	246	292	249	214
Noncurrent Deferred & Refundable Income Taxes	51	39	71	53	213	198
Other Noncurrent Operating Assets	64	120	138	167	169	178
Total Liabilities & Shareholders' Equity	995	1,126	2,659	3,165	3,320	3,400
Total Liabilities	660	784	2,250	2,592	2,436	2,359
Total Current Liabilities	392	466	594	628	760	814
Short-Term Debt	-	0.00	5.00	5.00	10	0.00
Accounts Payable	18	16	16	15	18	16
Accrued Expenses	168	227	324	362	457	536
Current Deferred Revenue	205	202	225	227	254	246
Current Deferred & Payable Income Tax Liabilities	2.24	3.37	6.70	4.51	9.49	4.05
Other Current Liabilities	0.00	17	17	15	12	12
Total Noncurrent Liabilities	268	319	1,656	1,963	1,676	1,544
Long-Term Debt	234	246	1,431	1,776	1,518	1,388
Noncurrent Deferred Revenue	16	15	16	24	23	20
Noncurrent Deferred & Payable Income Tax Liabilities	8.26	11	65	51	9.72	8.61
Noncurrent Employee Benefit Liabilities	-	2.42	95	77	88	97
Other Noncurrent Operating Liabilities	9.26	45	50	35	36	31
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	335	342	409	573	884	1,041
Total Preferred & Common Equity	335	342	409	573	883	1,041
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	335	342	409	573	883	1,041
Common Stock	411	744	941	1,033	1,130	1,221
Retained Earnings	-53	-376	-440	-371	-162	-76
Accumulated Other Comprehensive Income / (Loss)	-24	-26	-92	-90	-85	-104
Noncontrolling Interest	-	-	0.00	0.70	0.70	0.13

This table presents Bentley Systems' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024
Total Assets	3,041	3,188	3,164	3,135	3,354	3,257	3,396
Total Current Assets	326	432	391	374	474	387	404
Cash & Equivalents	73	94	83	67	142	51	72
Accounts Receivable	204	277	244	235	274	274	263
Prepaid Expenses	32	40	44	46	47	43	53
Current Deferred & Refundable Income Taxes	17	21	20	26	11	18	16
Plant, Property, & Equipment, net	0.00	33	0.00	0.00	39	0.00	0.00
Total Noncurrent Assets	2,715	2,723	2,772	2,761	2,842	2,870	2,993
Goodwill	2,193	2,248	2,253	2,251	2,261	2,265	2,390
Intangible Assets	301	284	272	260	236	226	226
Noncurrent Deferred & Refundable Income Taxes	53	52	69	62	208	206	208
Other Noncurrent Operating Assets	168	139	179	188	136	174	169
Total Liabilities & Shareholders' Equity	3,041	3,188	3,164	3,135	3,354	3,257	3,396
Total Liabilities	2,521	2,574	2,520	2,443	2,421	2,273	2,362
Total Current Liabilities	569	720	709	681	838	786	782
Short-Term Debt	5.00	6.25	7.50	8.75	10	0.00	0.00
Accounts Payable	17	29	37	26	24	24	31
Accrued Expenses	337	421	399	403	540	500	495
Current Deferred Revenue	186	235	231	212	242	237	225
Current Deferred & Payable Income Tax Liabilities	8.41	15	21	19	11	14	19
Other Current Liabilities	15	14	13	11	11	11	12
Total Noncurrent Liabilities	1,952	1,854	1,811	1,762	1,583	1,487	1,580
Long-Term Debt	1,777	1,669	1,629	1,581	1,425	1,335	1,419
Noncurrent Deferred Revenue	24	24	24	23	23	19	19
Noncurrent Deferred & Payable Income Tax Liabilities	44	47	38	44	10	12	12
Noncurrent Employee Benefit Liabilities	71	81	83	80	93	91	98
Other Noncurrent Operating Liabilities	37	34	37	36	32	30	32
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	520	614	644	692	933	985	1,034
Total Preferred & Common Equity	520	613	643	691	932	984	1,033
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	520	613	643	691	932	984	1,033
Common Stock	1,008	1,064	1,088	1,112	1,157	1,180	1,204
Retained Earnings	-386	-361	-357	-325	-133	-103	-88
Accumulated Other Comprehensive Income / (Loss)	-102	-89	-88	-95	-93	-93	-83
Noncontrolling Interest	-	0.70	0.70	0.70	0.70	0.70	0.70

This table displays calculated financial ratios and metrics derived from Bentley Systems' official financial filings.

Metric	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	6.50%	8.81%	20.40%	13.89%	11.77%	10.15%
EBITDA Growth	0.00%	11.65%	25.13%	-22.79%	90.90%	-2.97%	27.96%
EBIT Growth	0.00%	12.07%	27.95%	-40.05%	122.77%	-4.12%	41.10%
NOPAT Growth	0.00%	-24.39%	-0.02%	-15.12%	89.86%	120.43%	-41.14%
Net Income Growth	0.00%	-27.45%	22.72%	-26.34%	87.55%	86.97%	-28.26%
EPS Growth	0.00%	-28.57%	20.00%	-28.57%	83.33%	81.82%	-28.00%
Operating Cash Flow Growth	0.00%	5.76%	51.28%	11.49%	-4.76%	51.90%	4.46%
Free Cash Flow Firm Growth	0.00%	0.00%	129.31%	-1,079.37%	39.05%	160.13%	-36.85%
Invested Capital Growth	0.00%	0.00%	4.10%	225.58%	50.57%	2.69%	0.91%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	1.97%	2.98%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-7.84%	12.76%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-10.76%	17.39%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	111.44%	-42.13%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	88.98%	-35.64%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	88.68%	-35.71%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	13.03%	-0.59%	-13.95%	13.92%	-1.23%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-12.38%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	5.84%	-0.65%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	81.01%	80.43%	79.15%	77.56%	78.44%	78.34%	80.95%
EBITDA Margin	21.88%	22.94%	26.39%	16.92%	28.36%	24.62%	28.60%
Operating Margin	17.55%	19.26%	18.73%	9.80%	18.98%	18.77%	22.33%
EBIT Margin	17.58%	18.50%	21.76%	10.83%	21.19%	18.18%	23.29%
Profit (Net Income) Margin	20.55%	14.00%	15.78%	9.66%	15.90%	26.60%	17.33%
Tax Burden Percent	125.92%	80.48%	75.48%	99.85%	88.15%	178.06%	80.00%
Interest Burden Percent	92.79%	93.98%	96.11%	89.27%	85.13%	82.18%	93.00%
Effective Tax Rate	-25.92%	18.53%	23.04%	-3.69%	10.73%	-78.05%	20.04%
Return on Invested Capital (ROIC)	0.00%	51.68%	25.32%	9.90%	9.81%	17.74%	10.26%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	29.52%	34.59%	9.11%	8.99%	12.46%	9.75%
Return on Net Nonoperating Assets (RNNOA)	0.00%	9.94%	12.10%	14.92%	25.77%	27.10%	14.09%
Return on Equity (ROE)	0.00%	61.62%	37.42%	24.82%	35.57%	44.84%	24.36%
Cash Return on Invested Capital (CROIC)	0.00%	-148.32%	21.30%	-96.11%	-30.56%	15.09%	9.36%
Operating Return on Assets (OROA)	0.00%	13.70%	16.45%	5.52%	8.00%	6.89%	9.38%
Return on Assets (ROA)	0.00%	10.37%	11.93%	4.92%	6.00%	10.08%	6.98%
Return on Common Equity (ROCE)	0.00%	61.62%	37.42%	24.82%	35.55%	44.80%	24.34%
Return on Equity Simple (ROE_SIMPLE)	0.00%	30.81%	37.04%	22.77%	30.52%	37.00%	22.52%
Net Operating Profit after Tax (NOPAT)	153	116	116	98	186	410	242
NOPAT Margin	22.10%	15.69%	14.42%	10.16%	16.94%	33.42%	17.86%
Net Nonoperating Expense Percent (NNEP)	0.00%	22.16%	-9.27%	0.80%	0.81%	5.28%	0.52%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	7.91%	17.02%	9.95%
Cost of Revenue to Revenue	18.99%	19.57%	20.85%	22.44%	21.56%	21.66%	19.05%
SG&A Expenses to Revenue	12.91%	13.19%	17.39%	15.56%	15.89%	14.71%	15.55%
R&D to Revenue	25.30%	24.92%	23.14%	22.89%	23.46%	22.36%	20.79%
Operating Expenses to Revenue	63.47%	61.17%	60.41%	67.76%	59.45%	59.57%	58.62%
Earnings before Interest and Taxes (EBIT)	122	136	174	105	233	223	315
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	151	169	212	163	312	302	387
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.71	30.69	33.02	18.44	17.40	13.56
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.34	0.32	13.08	14.00	9.61	12.51	10.43
Price to Earnings (P/E)	1.66	2.29	83.02	144.98	60.43	47.02	60.12
Dividend Yield	0.00%	0.00%	0.08%	0.25%	0.41%	0.39%	0.51%
Earnings Yield	60.09%	43.59%	1.20%	0.69%	1.65%	2.13%	1.66%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.78	22.78	9.64	5.38	7.18	6.53
Enterprise Value to Revenue (EV/Rev)	0.00	0.47	13.23	15.15	11.17	13.70	11.41
Enterprise Value to EBITDA (EV/EBITDA)	0.00	2.07	50.15	89.51	39.37	55.63	39.89
Enterprise Value to EBIT (EV/EBIT)	0.00	2.56	60.82	139.81	52.69	75.35	49.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	3.02	91.80	149.03	65.90	40.99	63.90
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	2.04	41.06	50.75	44.74	40.38	35.47
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	109.11	0.00	0.00	48.22	70.06
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	0.70	0.72	3.51	3.11	1.73	1.33
Long-Term Debt to Equity	0.00	0.70	0.72	3.50	3.10	1.72	1.33
Financial Leverage	0.00	0.34	0.35	1.64	2.87	2.17	1.45
Leverage Ratio	0.00	2.97	3.14	5.04	5.93	4.45	3.49
Compound Leverage Factor	0.00	2.79	3.01	4.50	5.05	3.66	3.25
Debt to Total Capital	0.00%	41.13%	41.87%	77.82%	75.64%	63.36%	57.14%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.27%	0.21%	0.41%	0.00%
Long-Term Debt to Total Capital	0.00%	41.13%	41.87%	77.55%	75.43%	62.94%	57.14%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.03%	0.03%	0.01%
Common Equity to Total Capital	0.00%	58.87%	58.13%	22.18%	24.33%	36.61%	42.85%
Debt to EBITDA	0.00	1.38	1.16	8.79	5.71	5.05	3.59
Net Debt to EBITDA	0.00	0.67	0.59	6.78	5.48	4.83	3.42
Long-Term Debt to EBITDA	0.00	1.38	1.16	8.76	5.70	5.02	3.59
Debt to NOPAT	0.00	2.02	2.13	14.64	9.56	3.72	5.75
Net Debt to NOPAT	0.00	0.97	1.07	11.28	9.18	3.56	5.48
Long-Term Debt to NOPAT	0.00	2.02	2.13	14.59	9.54	3.70	5.75
Altman Z-Score	0.00	1.29	8.64	3.87	2.79	4.19	4.13
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.07%	0.10%	0.04%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	0.90	0.73	1.04	0.66	0.55	0.54
Quick Ratio	0.00	0.83	0.67	0.95	0.57	0.48	0.46
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-332	97	-952	-580	349	220
Operating Cash Flow to CapEx	828.32%	1,026.34%	1,570.74%	1,642.19%	1,696.92%	1,666.65%	3,099.05%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	0.74	0.76	0.51	0.38	0.38	0.40
Accounts Receivable Turnover	0.00	3.60	4.06	4.54	4.21	4.23	4.45
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	8.16	9.79	13.13	14.97	16.00	14.91
Days Sales Outstanding (DSO)	0.00	101.33	89.83	80.43	86.73	86.26	82.01
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	44.74	37.30	27.79	24.38	22.82	24.48
Cash Conversion Cycle (CCC)	0.00	56.59	52.53	52.64	62.36	63.44	57.53
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	447	466	1,516	2,282	2,344	2,365
Invested Capital Turnover	0.00	3.29	1.76	0.97	0.58	0.53	0.57
Increase / (Decrease) in Invested Capital	0.00	447	18	1,050	767	62	21
Enterprise Value (EV)	0.00	349	10,608	14,617	12,272	16,827	15,439
Market Capitalization	237	237	10,484	13,511	10,562	15,366	14,115
Book Value per Share	$0.00	$1.18	$1.30	$1.45	$1.99	$2.98	$3.44
Tangible Book Value per Share	$0.00	($0.67)	($1.09)	($5.05)	($6.78)	($5.52)	($5.10)
Total Capital	0.00	568	588	1,845	2,354	2,412	2,429
Total Debt	0.00	234	246	1,436	1,781	1,528	1,388
Total Long-Term Debt	0.00	234	246	1,431	1,776	1,518	1,388
Net Debt	0.00	113	124	1,107	1,709	1,460	1,324
Capital Expenditures (CapEx)	19	17	16	18	16	25	14
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-160	-247	-302	-279	-399	-436
Debt-free Net Working Capital (DFNWC)	0.00	-39	-125	27	-207	-331	-372
Net Working Capital (NWC)	0.00	-39	-125	22	-212	-341	-372
Net Nonoperating Expense (NNE)	11	12	-11	4.89	11	84	7.17
Net Nonoperating Obligations (NNO)	0.00	113	124	1,107	1,709	1,460	1,324
Total Depreciation and Amortization (D&A)	30	33	37	59	79	79	72
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-21.71%	-30.85%	-31.33%	-25.40%	-32.50%	-32.24%
Debt-free Net Working Capital to Revenue	0.00%	-5.27%	-15.63%	2.79%	-18.88%	-26.93%	-27.51%
Net Working Capital to Revenue	0.00%	-5.27%	-15.63%	2.28%	-19.33%	-27.74%	-27.51%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.44	$0.30	$0.57	$1.05	$0.75
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	289.86M	305.71M	309.23M	312.36M	314.89M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.42	$0.30	$0.55	$1.00	$0.72
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	299.37M	314.61M	331.77M	332.50M	333.77M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	273.22M	283.89M	290.43M	297.33M	303.10M
Normalized Net Operating Profit after Tax (NOPAT)	85	116	116	66	186	161	242
Normalized NOPAT Margin	12.28%	15.69%	14.42%	6.86%	16.94%	13.14%	17.86%
Pre Tax Income Margin	16.32%	17.39%	20.91%	9.67%	18.04%	14.94%	21.66%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	14.11%	24.24%	334.05%	35.84%	19.74%	17.98%	30.76%
Augmented Payout Ratio	46.80%	47.68%	335.14%	35.84%	35.90%	17.98%	58.21%

This table displays calculated financial ratios and metrics derived from Bentley Systems' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	6.74%	0.00%	14.12%	10.61%	14.27%	8.26%	7.43%	11.32%	9.32%	12.61%
EBITDA Growth	480.26%	0.00%	0.03%	-7.88%	29.82%	-36.78%	36.44%	36.85%	-17.75%	98.97%
EBIT Growth	246.70%	0.00%	-1.29%	-8.38%	41.00%	-53.56%	49.93%	51.94%	-20.20%	200.00%
NOPAT Growth	268.22%	0.00%	1.63%	-4.64%	27.12%	1,661.47%	28.30%	28.83%	-12.14%	-90.08%
Net Income Growth	177.04%	0.00%	-19.33%	-12.55%	43.33%	598.18%	54.56%	47.98%	-20.16%	-72.30%
EPS Growth	175.00%	0.00%	-22.22%	-11.76%	33.33%	587.50%	57.14%	46.67%	-18.75%	-72.73%
Operating Cash Flow Growth	18.96%	-55.18%	73.22%	20.29%	4.83%	140.97%	16.31%	-22.35%	18.24%	-6.23%
Free Cash Flow Firm Growth	39.75%	0.00%	0.00%	116.70%	110.70%	0.00%	-38.37%	-94.84%	-265.57%	-93.71%
Invested Capital Growth	46.06%	0.00%	-0.40%	-1.61%	-0.64%	2.69%	1.40%	3.18%	7.50%	0.91%
Revenue Q/Q Growth	0.02%	6.94%	9.57%	-5.62%	3.32%	1.31%	8.73%	-2.20%	1.46%	4.37%
EBITDA Q/Q Growth	-4.28%	-8.18%	22.83%	-14.68%	34.90%	-55.29%	165.09%	-14.42%	-18.92%	8.17%
EBIT Q/Q Growth	-4.65%	-11.00%	31.45%	-17.86%	46.73%	-70.69%	324.38%	-16.77%	-22.94%	10.21%
NOPAT Q/Q Growth	-27.25%	-38.56%	100.40%	6.46%	-3.02%	751.38%	-85.40%	6.90%	-33.87%	-3.92%
Net Income Q/Q Growth	-33.55%	-30.48%	76.85%	7.02%	8.92%	238.67%	-60.85%	2.47%	-41.23%	17.48%
EPS Q/Q Growth	-29.41%	-33.33%	75.00%	7.14%	6.67%	243.75%	-60.00%	0.00%	-40.91%	15.38%
Operating Cash Flow Q/Q Growth	3.69%	-48.00%	387.80%	-54.26%	-9.64%	19.54%	135.45%	-69.47%	37.58%	-5.19%
Free Cash Flow Firm Q/Q Growth	-17.03%	100.00%	0.00%	48.40%	-25.05%	491.81%	-90.64%	-87.59%	-2,506.98%	122.47%
Invested Capital Q/Q Growth	-0.23%	2.40%	-3.80%	0.11%	0.76%	5.84%	-5.01%	1.86%	4.98%	-0.65%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	77.94%	78.27%	78.63%	77.62%	78.91%	78.18%	81.69%	80.87%	80.66%	80.59%
EBITDA Margin	28.40%	24.39%	27.34%	24.71%	32.27%	14.24%	34.72%	30.38%	24.28%	25.16%
Operating Margin	20.70%	14.20%	20.92%	17.96%	24.03%	12.16%	27.22%	24.27%	20.48%	17.56%
EBIT Margin	21.05%	17.52%	21.02%	18.29%	25.97%	7.51%	29.33%	24.96%	18.96%	20.02%
Profit (Net Income) Margin	13.79%	8.96%	14.47%	16.41%	17.29%	57.81%	20.82%	21.81%	12.63%	14.22%
Tax Burden Percent	78.15%	65.70%	82.74%	108.71%	76.20%	1,267.00%	75.97%	93.13%	71.91%	77.38%
Interest Burden Percent	83.83%	77.89%	83.21%	82.52%	87.38%	60.72%	93.42%	93.82%	92.65%	91.78%
Effective Tax Rate	20.41%	33.36%	17.26%	-8.71%	23.73%	-1,166.56%	24.04%	6.89%	28.06%	22.76%
Return on Invested Capital (ROIC)	0.00%	4.56%	8.95%	10.28%	9.94%	81.79%	11.70%	13.01%	8.42%	7.79%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	4.47%	8.42%	9.72%	9.74%	62.93%	11.74%	12.83%	7.93%	7.96%
Return on Net Nonoperating Assets (RNNOA)	0.00%	13.33%	26.14%	28.03%	25.96%	136.82%	21.82%	22.35%	13.19%	11.51%
Return on Equity (ROE)	0.00%	17.89%	35.09%	38.31%	35.90%	218.61%	33.52%	35.36%	21.61%	19.30%
Cash Return on Invested Capital (CROIC)	0.00%	-25.43%	0.00%	0.00%	0.00%	15.09%	17.07%	15.64%	10.95%	9.36%
Operating Return on Assets (OROA)	0.00%	6.61%	7.54%	6.81%	10.13%	2.85%	11.22%	9.99%	7.63%	8.06%
Return on Assets (ROA)	0.00%	3.38%	5.19%	6.11%	6.75%	21.90%	7.97%	8.73%	5.08%	5.73%
Return on Common Equity (ROCE)	0.00%	17.88%	35.07%	38.29%	35.88%	218.40%	33.49%	35.33%	21.59%	19.29%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	26.71%	24.40%	25.01%	0.00%	37.73%	38.11%	35.25%	0.00%
Net Operating Profit after Tax (NOPAT)	44	27	54	58	56	478	70	75	49	47
NOPAT Margin	16.47%	9.47%	17.31%	19.53%	18.33%	154.01%	20.67%	22.60%	14.73%	13.56%
Net Nonoperating Expense Percent (NNEP)	0.50%	0.08%	0.54%	0.56%	0.20%	18.86%	-0.03%	0.18%	0.49%	-0.17%
Return On Investment Capital (ROIC_SIMPLE)	-	1.15%	-	-	-	19.83%	-	-	-	1.95%
Cost of Revenue to Revenue	22.06%	21.73%	21.37%	22.38%	21.09%	21.82%	18.31%	19.13%	19.34%	19.41%
SG&A Expenses to Revenue	14.08%	15.91%	14.89%	13.23%	13.92%	16.74%	13.76%	16.61%	15.32%	16.49%
R&D to Revenue	23.79%	23.66%	21.56%	23.63%	21.35%	22.93%	20.24%	19.89%	20.91%	22.04%
Operating Expenses to Revenue	57.24%	64.07%	57.71%	59.65%	54.88%	66.02%	54.48%	56.60%	60.18%	63.03%
Earnings before Interest and Taxes (EBIT)	56	50	66	54	80	23	99	82	64	70
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	76	70	86	73	99	44	117	100	81	88
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	16.83	18.44	20.24	24.63	21.30	17.40	16.56	15.05	14.86	13.56
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	9.61	10.91	13.58	12.22	12.51	12.33	11.52	11.68	10.43
Price to Earnings (P/E)	0.00	60.43	75.77	100.95	85.17	47.02	43.90	39.49	42.15	60.12
Dividend Yield	0.40%	0.41%	0.40%	0.30%	0.42%	0.39%	0.40%	0.45%	0.45%	0.51%
Earnings Yield	0.00%	1.65%	1.32%	0.99%	1.17%	2.13%	2.28%	2.53%	2.37%	1.66%
Enterprise Value to Invested Capital (EV/IC)	4.69	5.38	6.38	7.91	7.34	7.18	7.51	7.10	7.01	6.53
Enterprise Value to Revenue (EV/Rev)	0.00	11.17	12.30	14.91	13.49	13.70	13.36	12.52	12.71	11.41
Enterprise Value to EBITDA (EV/EBITDA)	0.00	39.37	44.91	56.94	49.51	55.63	50.12	44.60	48.65	39.89
Enterprise Value to EBIT (EV/EBIT)	0.00	52.69	60.33	76.60	64.94	75.35	65.27	56.56	62.22	49.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	65.90	74.97	95.23	83.71	40.99	40.98	38.40	40.00	63.90
Enterprise Value to Operating Cash Flow (EV/OCF)	32.82	44.74	40.14	47.99	44.43	40.38	37.56	37.65	37.89	35.47
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	48.22	44.33	46.07	66.40	70.06
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	3.42	3.11	2.73	2.54	2.30	1.73	1.54	1.36	1.37	1.33
Long-Term Debt to Equity	3.42	3.10	2.72	2.53	2.28	1.72	1.53	1.36	1.37	1.33
Financial Leverage	3.18	2.98	3.11	2.89	2.67	2.17	1.86	1.74	1.66	1.45
Leverage Ratio	6.11	5.93	5.92	5.49	5.09	4.45	4.23	3.94	3.78	3.49
Compound Leverage Factor	5.12	4.62	4.93	4.53	4.45	2.70	3.95	3.70	3.51	3.20
Debt to Total Capital	77.40%	75.64%	73.17%	71.77%	69.66%	63.36%	60.62%	57.55%	57.85%	57.14%
Short-Term Debt to Total Capital	0.22%	0.21%	0.27%	0.33%	0.38%	0.41%	0.42%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	77.18%	75.43%	72.90%	71.44%	69.28%	62.94%	60.19%	57.55%	57.85%	57.14%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.01%
Common Equity to Total Capital	22.60%	24.33%	26.80%	28.20%	30.31%	36.61%	39.35%	42.42%	42.13%	42.85%
Debt to EBITDA	0.00	5.71	5.37	5.36	4.84	5.05	4.30	3.70	4.13	3.59
Net Debt to EBITDA	0.00	5.48	5.07	5.09	4.64	4.83	3.88	3.56	3.92	3.42
Long-Term Debt to EBITDA	0.00	5.70	5.35	5.33	4.82	5.02	4.27	3.70	4.13	3.59
Debt to NOPAT	0.00	9.56	8.97	8.96	8.19	3.72	3.52	3.18	3.40	5.75
Net Debt to NOPAT	0.00	9.18	8.47	8.51	7.84	3.56	3.17	3.06	3.23	5.48
Long-Term Debt to NOPAT	0.00	9.54	8.94	8.92	8.14	3.70	3.49	3.18	3.40	5.75
Altman Z-Score	0.00	2.60	3.05	3.92	3.82	3.99	4.11	4.20	4.18	3.89
Noncontrolling Interest Sharing Ratio	0.00%	0.07%	0.07%	0.06%	0.06%	0.10%	0.09%	0.09%	0.08%	0.04%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.57	0.66	0.60	0.55	0.55	0.55	0.57	0.49	0.52	0.54
Quick Ratio	0.49	0.57	0.52	0.46	0.44	0.48	0.50	0.41	0.43	0.46
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-659	0.00	63	94	70	417	39	4.85	-117	26
Operating Cash Flow to CapEx	1,086.63%	649.28%	4,113.52%	1,156.49%	951.57%	1,428.03%	5,695.17%	2,025.44%	4,757.18%	1,471.64%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.38	0.36	0.37	0.39	0.38	0.38	0.40	0.40	0.40
Accounts Receivable Turnover	0.00	4.21	4.53	5.14	5.49	4.23	4.54	4.96	5.28	4.45
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	34.97	0.00	0.00	0.00	34.97	0.00	0.00	0.00
Accounts Payable Turnover	0.00	14.97	10.39	9.48	12.05	16.00	9.96	8.40	9.06	14.91
Days Sales Outstanding (DSO)	0.00	86.73	80.62	71.02	66.48	86.26	80.42	73.55	69.17	82.01
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	24.38	35.15	38.50	30.28	22.82	36.64	43.46	40.31	24.48
Cash Conversion Cycle (CCC)	0.00	62.36	45.47	32.53	36.19	63.44	43.78	30.09	28.87	57.53
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,229	2,282	2,196	2,198	2,215	2,344	2,226	2,268	2,381	2,365
Invested Capital Turnover	0.00	0.48	0.52	0.53	0.54	0.53	0.57	0.58	0.57	0.57
Increase / (Decrease) in Invested Capital	703	0.00	-8.91	-36	-14	62	31	70	166	21
Enterprise Value (EV)	10,465	12,272	14,000	17,394	16,251	16,827	16,729	16,092	16,700	15,439
Market Capitalization	8,756	10,562	12,418	15,839	14,727	15,366	15,434	14,808	15,353	14,115
Book Value per Share	$1.80	$1.99	$2.11	$2.19	$2.34	$2.98	$2.97	$3.28	$3.42	$3.44
Tangible Book Value per Share	($6.85)	($6.78)	($6.60)	($6.41)	($6.17)	($5.52)	($4.98)	($5.02)	($5.24)	($5.10)
Total Capital	2,302	2,354	2,289	2,281	2,282	2,412	2,368	2,319	2,453	2,429
Total Debt	1,782	1,781	1,675	1,637	1,590	1,528	1,435	1,335	1,419	1,388
Total Long-Term Debt	1,777	1,776	1,669	1,629	1,581	1,518	1,425	1,335	1,419	1,388
Net Debt	1,709	1,709	1,581	1,554	1,523	1,460	1,294	1,283	1,347	1,324
Capital Expenditures (CapEx)	6.39	5.56	4.28	6.97	7.65	6.10	3.60	3.09	1.81	5.55
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-311	-279	-375	-393	-365	-399	-496	-450	-451	-436
Debt-free Net Working Capital (DFNWC)	-238	-207	-282	-310	-298	-331	-354	-399	-378	-372
Net Working Capital (NWC)	-243	-212	-288	-318	-306	-341	-364	-399	-378	-372
Net Nonoperating Expense (NNE)	7.21	1.44	8.94	9.26	3.17	299	-0.48	2.61	7.03	-2.30
Net Nonoperating Obligations (NNO)	1,709	1,709	1,581	1,554	1,523	1,460	1,294	1,283	1,347	1,324
Total Depreciation and Amortization (D&A)	20	20	20	19	19	21	18	18	18	18
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-25.40%	-32.98%	-33.69%	-30.27%	-32.50%	-39.60%	-35.04%	-34.29%	-32.24%
Debt-free Net Working Capital to Revenue	0.00%	-18.88%	-24.76%	-26.60%	-24.71%	-26.93%	-28.29%	-31.05%	-28.80%	-27.51%
Net Working Capital to Revenue	0.00%	-19.33%	-25.31%	-27.24%	-25.44%	-27.74%	-29.09%	-31.05%	-28.80%	-27.51%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.12	$0.09	$0.15	$0.16	$0.17	$0.57	$0.22	$0.23	$0.13	$0.17
Adjusted Weighted Average Basic Shares Outstanding	310.12M	309.23M	310.76M	311.91M	313.07M	312.36M	314.30M	314.98M	315.21M	314.89M
Adjusted Diluted Earnings per Share	$0.12	$0.08	$0.14	$0.15	$0.16	$0.55	$0.22	$0.22	$0.13	$0.15
Adjusted Weighted Average Diluted Shares Outstanding	325.17M	331.77M	331.25M	332.35M	332.83M	332.50M	333.62M	333.78M	333.79M	333.77M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	288.39M	290.43M	293.37M	294.97M	295.92M	297.33M	300.00M	302.16M	302.25M	303.10M
Normalized Net Operating Profit after Tax (NOPAT)	44	27	54	37	56	26	70	75	49	47
Normalized NOPAT Margin	16.47%	9.47%	17.31%	12.57%	18.33%	8.51%	20.67%	22.60%	14.73%	13.56%
Pre Tax Income Margin	17.64%	13.64%	17.49%	15.09%	22.69%	4.56%	27.40%	23.42%	17.57%	18.37%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	19.74%	24.71%	29.67%	30.45%	17.98%	17.66%	17.44%	18.87%	30.76%
Augmented Payout Ratio	0.00%	35.90%	24.71%	39.24%	30.45%	17.98%	21.93%	27.44%	31.44%	58.21%

Frequently Asked Questions About Bentley Systems' Financials

When does Bentley Systems's fiscal year end?

According to the most recent income statement we have on file, Bentley Systems' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Bentley Systems' net income changed over the last 6 years?

Bentley Systems' net income appears to be on an upward trend, with a most recent value of $234.43 million in 2024, rising from $142.11 million in 2018. The previous period was $326.79 million in 2023. See Bentley Systems' forecast for analyst expectations on what’s next for the company.

What is Bentley Systems's operating income?

Bentley Systems's total operating income in 2024 was $302.15 million, based on the following breakdown:

Total Gross Profit: $1.10 billion
Total Operating Expenses: $793.18 million

How has Bentley Systems revenue changed over the last 6 years?

Over the last 6 years, Bentley Systems' total revenue changed from $691.71 million in 2018 to $1.35 billion in 2024, a change of 95.6%.

How much debt does Bentley Systems have?

Bentley Systems' total liabilities were at $2.36 billion at the end of 2024, a 3.2% decrease from 2023, and a 257.4% increase since 2019.

How much cash does Bentley Systems have?

In the past 5 years, Bentley Systems' cash and equivalents has ranged from $64.01 million in 2024 to $329.34 million in 2021, and is currently $64.01 million as of their latest financial filing in 2024.

How has Bentley Systems' book value per share changed over the last 6 years?

Over the last 6 years, Bentley Systems' book value per share changed from 0.00 in 2018 to 3.44 in 2024, a change of 344.4%.

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This page (NASDAQ:BSY) was last updated on 5/6/2025 by MarketBeat.com Staff

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Bentley Systems (BSY) Financials

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Bentley Systems (BSY) Financials

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