Bentley Systems (BSY) Financials

$47.78 -0.20 (-0.42%)

Closing price 04:00 PM Eastern

Extended Trading

$47.88 +0.10 (+0.22%)

As of 04:45 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	2024	2023	2022	2021	2020	2019	2018
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Net Income / (Loss) Attributable to Common Shareholders	235	327	175	93	126	103	142
Consolidated Net Income / (Loss)	234	327	175	93	127	103	142
Net Income / (Loss) Continuing Operations	234	327	175	93	127	103	142
Total Pre-Tax Income	293	184	198	93	168	128	113
Total Operating Income	302	231	209	95	150	142	121
Total Gross Profit	1,095	962	862	749	634	593	560
Total Revenue	1,353	1,228	1,099	965	802	737	692
Operating Revenue	1,353	1,228	1,099	965	802	737	692
Total Cost of Revenue	258	266	237	217	167	144	131
Operating Cost of Revenue	258	266	237	217	167	144	131
Total Operating Expenses	793	732	653	654	484	451	439
Selling, General & Admin Expense	210	181	175	150	139	97	89
Marketing Expense	255	224	196	162	144	155	161
Research & Development Expense	281	275	258	221	186	184	175
Amortization Expense	34	39	41	26	15	14	14
Other Operating Expenses / (Income)	12	14	-16	95	0.18	0.41	-
Total Other Income / (Expense), net	-9.10	-47	-10	-1.26	17	-14	-8.53
Interest & Investment Income	-22	-40	-35	-11	-6.78	-8.20	-8.77
Other Income / (Expense), net	13	-7.22	24	9.96	24	-5.56	0.24
Income Tax Expense	59	-143	21	-3.45	39	24	-29
Other Gains / (Losses), net	0.10	0.02	-2.21	-3.59	-2.47	-1.28	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.35	0.00	0.00	-	0.23	0.01	0.00
Basic Earnings per Share	$0.75	$1.05	$0.57	$0.30	$0.44	$0.36	$0.50
Weighted Average Basic Shares Outstanding	314.89M	312.36M	309.23M	305.71M	289.86M	284.63M	285.81M
Diluted Earnings per Share	$0.72	$1.00	$0.55	$0.30	$0.42	$0.35	$0.49
Weighted Average Diluted Shares Outstanding	333.77M	332.50M	331.77M	314.61M	299.37M	293.80M	292.62M
Weighted Average Basic & Diluted Shares Outstanding	303.10M	297.33M	290.43M	283.89M	273.22M	-	-
Cash Dividends to Common per Share	$0.24	$0.20	$0.12	$0.12	$1.62	$0.10	$0.08

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	91	50	42	72	70	180	53	49	45	26	37
Consolidated Net Income / (Loss)	91	50	42	72	70	180	53	49	45	26	37
Net Income / (Loss) Continuing Operations	91	50	42	72	70	180	53	49	45	26	37
Total Pre-Tax Income	112	64	59	77	93	14	70	45	55	39	47
Total Operating Income	115	61	69	80	92	38	74	53	66	41	56
Total Gross Profit	305	282	270	267	276	243	242	230	247	225	209
Total Revenue	371	350	335	330	338	311	307	297	314	287	268
Operating Revenue	371	350	335	330	338	311	307	297	314	287	268
Total Cost of Revenue	66	68	65	63	62	68	65	66	67	62	59
Operating Cost of Revenue	66	68	65	63	62	68	65	66	67	62	59
Total Operating Expenses	190	220	202	187	184	205	168	177	181	184	154
Selling, General & Admin Expense	47	58	51	55	46	52	43	39	47	46	38
Marketing Expense	63	79	65	57	54	64	54	54	52	54	46
Research & Development Expense	72	77	70	66	68	71	65	70	68	68	64
Amortization Expense	8.21	8.28	8.36	8.39	8.96	8.95	9.52	9.50	11	10	10
Other Operating Expenses / (Income)	-1.25	-1.28	6.98	0.88	5.80	8.82	-3.16	3.78	4.15	6.09	-4.58
Total Other Income / (Expense), net	-3.36	2.86	-9.76	-2.82	0.62	-24	-4.09	-8.52	-11	-1.61	-8.20
Interest & Investment Income	-3.81	-5.76	-4.67	-5.10	-6.52	-9.17	-10	-9.48	-11	-11	-9.13
Other Income / (Expense), net	0.45	8.62	-5.09	2.28	7.14	-14	5.95	0.97	0.29	9.51	0.93
Income Tax Expense	20	15	17	5.33	22	-165	17	-3.90	9.49	13	9.66
Other Gains / (Losses), net	0.00	0.09	-0.01	0.02	0.01	0.06	-0.04	0.00	0.00	-0.37	-0.68
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.03	-	-	-	-	-	-	-	-	-	-
Basic Earnings per Share	$0.29	$0.17	$0.13	$0.23	$0.22	$0.57	$0.17	$0.16	$0.15	$0.09	$0.12
Weighted Average Basic Shares Outstanding	315.13M	314.89M	315.21M	314.98M	314.30M	312.36M	313.07M	311.91M	310.76M	309.23M	310.12M
Diluted Earnings per Share	$0.28	$0.15	$0.13	$0.22	$0.22	$0.55	$0.16	$0.15	$0.14	$0.08	$0.12
Weighted Average Diluted Shares Outstanding	333.44M	333.77M	333.79M	333.78M	333.62M	332.50M	332.83M	332.35M	331.25M	331.77M	325.17M
Weighted Average Basic & Diluted Shares Outstanding	303.38M	303.10M	302.25M	302.16M	300.00M	297.33M	295.92M	294.97M	293.37M	290.43M	288.39M
Cash Dividends to Common per Share	$0.07	-	$0.06	$0.06	$0.06	-	$0.05	$0.05	$0.05	-	$0.03

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

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	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	20	-8.17	21	-90	73	1.45	-16	-11	22	-1.17	-21
Net Cash From Operating Activities	219	82	86	63	205	87	73	81	176	36	69
Net Cash From Continuing Operating Activities	219	82	86	63	205	87	73	81	176	36	69
Net Income / (Loss) Continuing Operations	91	50	42	72	70	180	53	49	45	26	37
Consolidated Net Income / (Loss)	91	50	42	72	70	180	53	49	45	26	37
Depreciation Expense	16	16	16	16	16	19	17	17	18	18	18
Amortization Expense	1.89	1.78	1.80	1.93	1.82	1.82	1.82	1.82	1.82	1.82	1.82
Non-Cash Adjustments To Reconcile Net Income	18	24	15	24	18	34	22	17	21	18	24
Changes in Operating Assets and Liabilities, net	93	-9.80	10	-52	99	-148	-21	-4.10	90	-27	-11
Net Cash From Investing Activities	-3.04	-7.59	-125	-7.10	-3.85	-9.26	-21	-8.99	-21	-30	-16
Net Cash From Continuing Investing Activities	-3.04	-7.59	-125	-7.10	-3.85	-9.26	-21	-8.99	-21	-30	-16
Purchase of Property, Plant & Equipment	-3.04	-5.55	-1.81	-3.09	-3.60	-6.10	-7.65	-6.97	-4.28	-5.56	-6.39
Purchase of Investments	0.00	-0.63	-0.25	-0.31	-0.25	-0.25	-3.15	-2.02	-6.18	-0.65	-4.74
Net Cash From Financing Activities	-201	-77	58	-145	-126	-79	-64	-82	-134	-12	-71
Net Cash From Continuing Financing Activities	-201	-77	58	-145	-126	-79	-64	-82	-134	-12	-71
Repayment of Debt	-267	-323	-99	-114	-134	-208	-203	-211	-224	-82	-146
Repurchase of Common Equity	-30	-19	-8.25	-23	-15	-	-	-	0.00	-	-15
Payment of Dividends	-21	-18	-18	-18	-18	-15	-15	-15	-15	-8.67	-8.67
Issuance of Debt	122	284	182	12	40	146	154	171	117	80	95
Issuance of Common Equity	5.31	-	5.67	-	9.57	1.13	6.32	5.50	8.76	1.48	6.72
Other Financing Activities, net	-9.75	-1.31	-4.14	-1.53	-8.55	-2.70	-6.50	-33	-21	-2.81	-3.63
Effect of Exchange Rate Changes	4.07	-5.58	1.75	-1.25	-1.50	2.71	-3.04	-0.72	0.66	4.04	-2.46
Cash Interest Paid	2.15	5.07	3.42	3.45	5.26	8.02	9.99	8.91	10	8.93	7.12
Cash Income Taxes Paid	8.43	26	10	12	12	14	11	12	6.10	8.78	9.09

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

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	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	3,403	3,396	3,257	3,354	3,135	3,164	3,188	3,041
Total Current Assets	446	404	387	474	374	391	432	326
Cash & Equivalents	84	72	51	142	67	83	94	73
Accounts Receivable	304	263	274	274	235	244	277	204
Prepaid Expenses	50	53	43	47	46	44	40	32
Current Deferred & Refundable Income Taxes	8.80	16	18	11	26	20	21	17
Plant, Property, & Equipment, net	33	0.00	0.00	39	0.00	0.00	33	0.00
Total Noncurrent Assets	2,924	2,993	2,870	2,842	2,761	2,772	2,723	2,715
Goodwill	2,380	2,390	2,265	2,261	2,251	2,253	2,248	2,193
Intangible Assets	203	226	226	236	260	272	284	301
Noncurrent Deferred & Refundable Income Taxes	199	208	206	208	62	69	52	53
Other Noncurrent Operating Assets	141	169	174	136	188	179	139	168
Total Liabilities & Shareholders' Equity	3,403	3,396	3,257	3,354	3,135	3,164	3,188	3,041
Total Liabilities	2,305	2,362	2,273	2,421	2,443	2,520	2,574	2,521
Total Current Liabilities	906	782	786	838	681	709	720	569
Short-Term Debt	0.00	0.00	0.00	10	8.75	7.50	6.25	5.00
Accounts Payable	24	31	24	24	26	37	29	17
Accrued Expenses	164	495	500	540	403	399	421	337
Customer Deposits	448	-	-	-	-	-	-	-
Current Deferred Revenue	244	225	237	242	212	231	235	186
Current Deferred & Payable Income Tax Liabilities	14	19	14	11	19	21	15	8.41
Other Current Liabilities	12	12	11	11	11	13	14	15
Total Noncurrent Liabilities	1,399	1,580	1,487	1,583	1,762	1,811	1,854	1,952
Long-Term Debt	1,244	1,419	1,335	1,425	1,581	1,629	1,669	1,777
Noncurrent Deferred Revenue	20	19	19	23	23	24	24	24
Noncurrent Deferred & Payable Income Tax Liabilities	8.29	12	12	10	44	38	47	44
Noncurrent Employee Benefit Liabilities	95	98	91	93	80	83	81	71
Other Noncurrent Operating Liabilities	32	32	30	32	36	37	34	37
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,098	1,034	985	933	692	644	614	520
Total Preferred & Common Equity	1,098	1,033	984	932	691	643	613	520
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,098	1,033	984	932	691	643	613	520
Common Stock	1,243	1,204	1,180	1,157	1,112	1,088	1,064	1,008
Retained Earnings	-48	-88	-103	-133	-325	-357	-361	-386
Accumulated Other Comprehensive Income / (Loss)	-98	-83	-93	-93	-95	-88	-89	-102
Noncontrolling Interest	0.11	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	2024	2023	2022	2021	2020	2019	2018
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	10.15%	11.77%	13.89%	20.40%	8.81%	6.50%	0.00%
EBITDA Growth	27.96%	-2.97%	90.90%	-22.79%	25.13%	11.65%	0.00%
EBIT Growth	41.10%	-4.12%	122.77%	-40.05%	27.95%	12.07%	0.00%
NOPAT Growth	-41.14%	120.43%	89.86%	-15.12%	-0.02%	-24.39%	0.00%
Net Income Growth	-28.26%	86.97%	87.55%	-26.34%	22.72%	-27.45%	0.00%
EPS Growth	-28.00%	81.82%	83.33%	-28.57%	20.00%	-28.57%	0.00%
Operating Cash Flow Growth	4.46%	51.90%	-4.76%	11.49%	51.28%	5.76%	0.00%
Free Cash Flow Firm Growth	-36.85%	160.13%	39.05%	-1,079.37%	129.31%	0.00%	0.00%
Invested Capital Growth	0.91%	2.69%	50.57%	225.58%	4.10%	0.00%	0.00%
Revenue Q/Q Growth	2.98%	1.97%	0.00%	0.00%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	12.76%	-7.84%	0.00%	0.00%	0.00%	0.00%	0.00%
EBIT Q/Q Growth	17.39%	-10.76%	0.00%	0.00%	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	-42.13%	111.44%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Income Q/Q Growth	-35.64%	88.98%	0.00%	0.00%	0.00%	0.00%	0.00%
EPS Q/Q Growth	-35.71%	88.68%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-1.23%	13.92%	-13.95%	-0.59%	13.03%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	-12.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	-0.65%	5.84%	0.00%	0.00%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	80.95%	78.34%	78.44%	77.56%	79.15%	80.43%	81.01%
EBITDA Margin	28.60%	24.62%	28.36%	16.92%	26.39%	22.94%	21.88%
Operating Margin	22.33%	18.77%	18.98%	9.80%	18.73%	19.26%	17.55%
EBIT Margin	23.29%	18.18%	21.19%	10.83%	21.76%	18.50%	17.58%
Profit (Net Income) Margin	17.33%	26.60%	15.90%	9.66%	15.78%	14.00%	20.55%
Tax Burden Percent	80.00%	178.06%	88.15%	99.85%	75.48%	80.48%	125.92%
Interest Burden Percent	93.00%	82.18%	85.13%	89.27%	96.11%	93.98%	92.79%
Effective Tax Rate	20.04%	-78.05%	10.73%	-3.69%	23.04%	18.53%	-25.92%
Return on Invested Capital (ROIC)	10.26%	17.74%	9.81%	9.90%	25.32%	51.68%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	9.75%	12.46%	8.99%	9.11%	34.59%	29.52%	0.00%
Return on Net Nonoperating Assets (RNNOA)	14.09%	27.10%	25.77%	14.92%	12.10%	9.94%	0.00%
Return on Equity (ROE)	24.36%	44.84%	35.57%	24.82%	37.42%	61.62%	0.00%
Cash Return on Invested Capital (CROIC)	9.36%	15.09%	-30.56%	-96.11%	21.30%	-148.32%	0.00%
Operating Return on Assets (OROA)	9.38%	6.89%	8.00%	5.52%	16.45%	13.70%	0.00%
Return on Assets (ROA)	6.98%	10.08%	6.00%	4.92%	11.93%	10.37%	0.00%
Return on Common Equity (ROCE)	24.34%	44.80%	35.55%	24.82%	37.42%	61.62%	0.00%
Return on Equity Simple (ROE_SIMPLE)	22.52%	37.00%	30.52%	22.77%	37.04%	30.81%	0.00%
Net Operating Profit after Tax (NOPAT)	242	410	186	98	116	116	153
NOPAT Margin	17.86%	33.42%	16.94%	10.16%	14.42%	15.69%	22.10%
Net Nonoperating Expense Percent (NNEP)	0.52%	5.28%	0.81%	0.80%	-9.27%	22.16%	0.00%
Return On Investment Capital (ROIC_SIMPLE)	9.95%	17.02%	7.91%	-	-	-	-
Cost of Revenue to Revenue	19.05%	21.66%	21.56%	22.44%	20.85%	19.57%	18.99%
SG&A Expenses to Revenue	15.55%	14.71%	15.89%	15.56%	17.39%	13.19%	12.91%
R&D to Revenue	20.79%	22.36%	23.46%	22.89%	23.14%	24.92%	25.30%
Operating Expenses to Revenue	58.62%	59.57%	59.45%	67.76%	60.41%	61.17%	63.47%
Earnings before Interest and Taxes (EBIT)	315	223	233	105	174	136	122
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	387	302	312	163	212	169	151
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	13.56	17.40	18.44	33.02	30.69	0.71	0.00
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)	10.43	12.51	9.61	14.00	13.08	0.32	0.34
Price to Earnings (P/E)	60.12	47.02	60.43	144.98	83.02	2.29	1.66
Dividend Yield	0.51%	0.39%	0.41%	0.25%	0.08%	0.00%	0.00%
Earnings Yield	1.66%	2.13%	1.65%	0.69%	1.20%	43.59%	60.09%
Enterprise Value to Invested Capital (EV/IC)	6.53	7.18	5.38	9.64	22.78	0.78	0.00
Enterprise Value to Revenue (EV/Rev)	11.41	13.70	11.17	15.15	13.23	0.47	0.00
Enterprise Value to EBITDA (EV/EBITDA)	39.89	55.63	39.37	89.51	50.15	2.07	0.00
Enterprise Value to EBIT (EV/EBIT)	49.00	75.35	52.69	139.81	60.82	2.56	0.00
Enterprise Value to NOPAT (EV/NOPAT)	63.90	40.99	65.90	149.03	91.80	3.02	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	35.47	40.38	44.74	50.75	41.06	2.04	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	70.06	48.22	0.00	0.00	109.11	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	1.33	1.73	3.11	3.51	0.72	0.70	0.00
Long-Term Debt to Equity	1.33	1.72	3.10	3.50	0.72	0.70	0.00
Financial Leverage	1.45	2.17	2.87	1.64	0.35	0.34	0.00
Leverage Ratio	3.49	4.45	5.93	5.04	3.14	2.97	0.00
Compound Leverage Factor	3.25	3.66	5.05	4.50	3.01	2.79	0.00
Debt to Total Capital	57.14%	63.36%	75.64%	77.82%	41.87%	41.13%	0.00%
Short-Term Debt to Total Capital	0.00%	0.41%	0.21%	0.27%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	57.14%	62.94%	75.43%	77.55%	41.87%	41.13%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.01%	0.03%	0.03%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	42.85%	36.61%	24.33%	22.18%	58.13%	58.87%	0.00%
Debt to EBITDA	3.59	5.05	5.71	8.79	1.16	1.38	0.00
Net Debt to EBITDA	3.42	4.83	5.48	6.78	0.59	0.67	0.00
Long-Term Debt to EBITDA	3.59	5.02	5.70	8.76	1.16	1.38	0.00
Debt to NOPAT	5.75	3.72	9.56	14.64	2.13	2.02	0.00
Net Debt to NOPAT	5.48	3.56	9.18	11.28	1.07	0.97	0.00
Long-Term Debt to NOPAT	5.75	3.70	9.54	14.59	2.13	2.02	0.00
Altman Z-Score	4.13	4.19	2.79	3.87	8.64	1.29	0.00
Noncontrolling Interest Sharing Ratio	0.04%	0.10%	0.07%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.54	0.55	0.66	1.04	0.73	0.90	0.00
Quick Ratio	0.46	0.48	0.57	0.95	0.67	0.83	0.00
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	220	349	-580	-952	97	-332	0.00
Operating Cash Flow to CapEx	3,099.05%	1,666.65%	1,696.92%	1,642.19%	1,570.74%	1,026.34%	828.32%
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	0.40	0.38	0.38	0.51	0.76	0.74	0.00
Accounts Receivable Turnover	4.45	4.23	4.21	4.54	4.06	3.60	0.00
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	14.91	16.00	14.97	13.13	9.79	8.16	0.00
Days Sales Outstanding (DSO)	82.01	86.26	86.73	80.43	89.83	101.33	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	24.48	22.82	24.38	27.79	37.30	44.74	0.00
Cash Conversion Cycle (CCC)	57.53	63.44	62.36	52.64	52.53	56.59	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	2,365	2,344	2,282	1,516	466	447	0.00
Invested Capital Turnover	0.57	0.53	0.58	0.97	1.76	3.29	0.00
Increase / (Decrease) in Invested Capital	21	62	767	1,050	18	447	0.00
Enterprise Value (EV)	15,439	16,827	12,272	14,617	10,608	349	0.00
Market Capitalization	14,115	15,366	10,562	13,511	10,484	237	237
Book Value per Share	$3.44	$2.98	$1.99	$1.45	$1.30	$1.18	$0.00
Tangible Book Value per Share	($5.10)	($5.52)	($6.78)	($5.05)	($1.09)	($0.67)	$0.00
Total Capital	2,429	2,412	2,354	1,845	588	568	0.00
Total Debt	1,388	1,528	1,781	1,436	246	234	0.00
Total Long-Term Debt	1,388	1,518	1,776	1,431	246	234	0.00
Net Debt	1,324	1,460	1,709	1,107	124	113	0.00
Capital Expenditures (CapEx)	14	25	16	18	16	17	19
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-436	-399	-279	-302	-247	-160	0.00
Debt-free Net Working Capital (DFNWC)	-372	-331	-207	27	-125	-39	0.00
Net Working Capital (NWC)	-372	-341	-212	22	-125	-39	0.00
Net Nonoperating Expense (NNE)	7.17	84	11	4.89	-11	12	11
Net Nonoperating Obligations (NNO)	1,324	1,460	1,709	1,107	124	113	0.00
Total Depreciation and Amortization (D&A)	72	79	79	59	37	33	30
Debt-free, Cash-free Net Working Capital to Revenue	-32.24%	-32.50%	-25.40%	-31.33%	-30.85%	-21.71%	0.00%
Debt-free Net Working Capital to Revenue	-27.51%	-26.93%	-18.88%	2.79%	-15.63%	-5.27%	0.00%
Net Working Capital to Revenue	-27.51%	-27.74%	-19.33%	2.28%	-15.63%	-5.27%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.75	$1.05	$0.57	$0.30	$0.44	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	314.89M	312.36M	309.23M	305.71M	289.86M	0.00	0.00
Adjusted Diluted Earnings per Share	$0.72	$1.00	$0.55	$0.30	$0.42	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	333.77M	332.50M	331.77M	314.61M	299.37M	0.00	0.00
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	303.10M	297.33M	290.43M	283.89M	273.22M	0.00	0.00
Normalized Net Operating Profit after Tax (NOPAT)	242	161	186	66	116	116	85
Normalized NOPAT Margin	17.86%	13.14%	16.94%	6.86%	14.42%	15.69%	12.28%
Pre Tax Income Margin	21.66%	14.94%	18.04%	9.67%	20.91%	17.39%	16.32%
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	30.76%	17.98%	19.74%	35.84%	334.05%	24.24%	14.11%
Augmented Payout Ratio	58.21%	17.98%	35.90%	35.84%	335.14%	47.68%	46.80%

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	9.70%	12.61%	9.32%	11.32%	7.43%	8.26%	14.27%	10.61%	14.12%	0.00%	6.74%
EBITDA Growth	13.55%	98.97%	-17.75%	36.85%	36.44%	-36.78%	29.82%	-7.88%	0.03%	0.00%	480.26%
EBIT Growth	16.72%	200.00%	-20.20%	51.94%	49.93%	-53.56%	41.00%	-8.38%	-1.29%	0.00%	246.70%
NOPAT Growth	34.72%	-90.08%	-12.14%	28.83%	28.30%	1,661.47%	27.12%	-4.64%	1.63%	0.00%	268.22%
Net Income Growth	29.91%	-72.30%	-20.16%	47.98%	54.56%	598.18%	43.33%	-12.55%	-19.33%	0.00%	177.04%
EPS Growth	27.27%	-72.73%	-18.75%	46.67%	57.14%	587.50%	33.33%	-11.76%	-22.22%	0.00%	175.00%
Operating Cash Flow Growth	7.05%	-6.23%	18.24%	-22.35%	16.31%	140.97%	4.83%	20.29%	73.22%	-55.18%	18.96%
Free Cash Flow Firm Growth	59.27%	-93.71%	-265.57%	-94.84%	-38.37%	0.00%	110.70%	116.70%	0.00%	0.00%	39.75%
Invested Capital Growth	1.43%	0.91%	7.50%	3.18%	1.40%	2.69%	-0.64%	-1.61%	-0.40%	0.00%	46.06%
Revenue Q/Q Growth	5.92%	4.37%	1.46%	-2.20%	8.73%	1.31%	3.32%	-5.62%	9.57%	6.94%	0.02%
EBITDA Q/Q Growth	51.28%	8.17%	-18.92%	-14.42%	165.09%	-55.29%	34.90%	-14.68%	22.83%	-8.18%	-4.28%
EBIT Q/Q Growth	65.12%	10.21%	-22.94%	-16.77%	324.38%	-70.69%	46.73%	-17.86%	31.45%	-11.00%	-4.65%
NOPAT Q/Q Growth	98.33%	-3.92%	-33.87%	6.90%	-85.40%	751.38%	-3.02%	6.46%	100.40%	-38.56%	-27.25%
Net Income Q/Q Growth	83.63%	17.48%	-41.23%	2.47%	-60.85%	238.67%	8.92%	7.02%	76.85%	-30.48%	-33.55%
EPS Q/Q Growth	86.67%	15.38%	-40.91%	0.00%	-60.00%	243.75%	6.67%	7.14%	75.00%	-33.33%	-29.41%
Operating Cash Flow Q/Q Growth	168.79%	-5.19%	37.58%	-69.47%	135.45%	19.54%	-9.64%	-54.26%	387.80%	-48.00%	3.69%
Free Cash Flow Firm Q/Q Growth	137.20%	122.47%	-2,506.98%	-87.59%	-90.64%	491.81%	-25.05%	48.40%	0.00%	100.00%	-17.03%
Invested Capital Q/Q Growth	-4.52%	-0.65%	4.98%	1.86%	-5.01%	5.84%	0.76%	0.11%	-3.80%	2.40%	-0.23%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	82.28%	80.59%	80.66%	80.87%	81.69%	78.18%	78.91%	77.62%	78.63%	78.27%	77.94%
EBITDA Margin	35.94%	25.16%	24.28%	30.38%	34.72%	14.24%	32.27%	24.71%	27.34%	24.39%	28.40%
Operating Margin	31.09%	17.56%	20.48%	24.27%	27.22%	12.16%	24.03%	17.96%	20.92%	14.20%	20.70%
EBIT Margin	31.21%	20.02%	18.96%	24.96%	29.33%	7.51%	25.97%	18.29%	21.02%	17.52%	21.05%
Profit (Net Income) Margin	24.65%	14.22%	12.63%	21.81%	20.82%	57.81%	17.29%	16.41%	14.47%	8.96%	13.79%
Tax Burden Percent	81.68%	77.38%	71.91%	93.13%	75.97%	1,267.00%	76.20%	108.71%	82.74%	65.70%	78.15%
Interest Burden Percent	96.71%	91.78%	92.65%	93.82%	93.42%	60.72%	87.38%	82.52%	83.21%	77.89%	83.83%
Effective Tax Rate	18.32%	22.76%	28.06%	6.89%	24.04%	-1,166.56%	23.73%	-8.71%	17.26%	33.36%	20.41%
Return on Invested Capital (ROIC)	15.69%	7.79%	8.42%	13.01%	11.70%	81.79%	9.94%	10.28%	8.95%	4.56%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	15.47%	7.96%	7.93%	12.83%	11.74%	62.93%	9.74%	9.72%	8.42%	4.47%	0.00%
Return on Net Nonoperating Assets (RNNOA)	18.70%	11.51%	13.19%	22.35%	21.82%	136.82%	25.96%	28.03%	26.14%	13.33%	0.00%
Return on Equity (ROE)	34.39%	19.30%	21.61%	35.36%	33.52%	218.61%	35.90%	38.31%	35.09%	17.89%	0.00%
Cash Return on Invested Capital (CROIC)	10.44%	9.36%	10.95%	15.64%	17.07%	15.09%	0.00%	0.00%	0.00%	-25.43%	0.00%
Operating Return on Assets (OROA)	12.80%	8.06%	7.63%	9.99%	11.22%	2.85%	10.13%	6.81%	7.54%	6.61%	0.00%
Return on Assets (ROA)	10.11%	5.73%	5.08%	8.73%	7.97%	21.90%	6.75%	6.11%	5.19%	3.38%	0.00%
Return on Common Equity (ROCE)	34.38%	19.29%	21.59%	35.33%	33.49%	218.40%	35.88%	38.29%	35.07%	17.88%	0.00%
Return on Equity Simple (ROE_SIMPLE)	23.27%	0.00%	35.25%	38.11%	37.73%	0.00%	25.01%	24.40%	26.71%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	94	47	49	75	70	478	56	58	54	27	44
NOPAT Margin	25.39%	13.56%	14.73%	22.60%	20.67%	154.01%	18.33%	19.53%	17.31%	9.47%	16.47%
Net Nonoperating Expense Percent (NNEP)	0.22%	-0.17%	0.49%	0.18%	-0.03%	18.86%	0.20%	0.56%	0.54%	0.08%	0.50%
Return On Investment Capital (ROIC_SIMPLE)	4.02%	1.95%	-	-	-	19.83%	-	-	-	1.15%	-
Cost of Revenue to Revenue	17.72%	19.41%	19.34%	19.13%	18.31%	21.82%	21.09%	22.38%	21.37%	21.73%	22.06%
SG&A Expenses to Revenue	12.75%	16.49%	15.32%	16.61%	13.76%	16.74%	13.92%	13.23%	14.89%	15.91%	14.08%
R&D to Revenue	19.55%	22.04%	20.91%	19.89%	20.24%	22.93%	21.35%	23.63%	21.56%	23.66%	23.79%
Operating Expenses to Revenue	51.20%	63.03%	60.18%	56.60%	54.48%	66.02%	54.88%	59.65%	57.71%	64.07%	57.24%
Earnings before Interest and Taxes (EBIT)	116	70	64	82	99	23	80	54	66	50	56
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	133	88	81	100	117	44	99	73	86	70	76
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	10.86	13.56	14.86	15.05	16.56	17.40	21.30	24.63	20.24	18.44	16.83
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	0.00
Price to Revenue (P/Rev)	8.60	10.43	11.68	11.52	12.33	12.51	12.22	13.58	10.91	9.61	0.00
Price to Earnings (P/E)	46.61	60.12	42.15	39.49	43.90	47.02	85.17	100.95	75.77	60.43	0.00
Dividend Yield	0.64%	0.51%	0.45%	0.45%	0.40%	0.39%	0.42%	0.30%	0.40%	0.41%	0.40%
Earnings Yield	2.15%	1.66%	2.37%	2.53%	2.28%	2.13%	1.17%	0.99%	1.32%	1.65%	0.00%
Enterprise Value to Invested Capital (EV/IC)	5.79	6.53	7.01	7.10	7.51	7.18	7.34	7.91	6.38	5.38	4.69
Enterprise Value to Revenue (EV/Rev)	9.44	11.41	12.71	12.52	13.36	13.70	13.49	14.91	12.30	11.17	0.00
Enterprise Value to EBITDA (EV/EBITDA)	32.47	39.89	48.65	44.60	50.12	55.63	49.51	56.94	44.91	39.37	0.00
Enterprise Value to EBIT (EV/EBIT)	39.45	49.00	62.22	56.56	65.27	75.35	64.94	76.60	60.33	52.69	0.00
Enterprise Value to NOPAT (EV/NOPAT)	49.18	63.90	40.00	38.40	40.98	40.99	83.71	95.23	74.97	65.90	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	29.09	35.47	37.89	37.65	37.56	40.38	44.43	47.99	40.14	44.74	32.82
Enterprise Value to Free Cash Flow (EV/FCFF)	55.88	70.06	66.40	46.07	44.33	48.22	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.13	1.33	1.37	1.36	1.54	1.73	2.30	2.54	2.73	3.11	3.42
Long-Term Debt to Equity	1.13	1.33	1.37	1.36	1.53	1.72	2.28	2.53	2.72	3.10	3.42
Financial Leverage	1.21	1.45	1.66	1.74	1.86	2.17	2.67	2.89	3.11	2.98	3.18
Leverage Ratio	3.33	3.49	3.78	3.94	4.23	4.45	5.09	5.49	5.92	5.93	6.11
Compound Leverage Factor	3.22	3.20	3.51	3.70	3.95	2.70	4.45	4.53	4.93	4.62	5.12
Debt to Total Capital	53.13%	57.14%	57.85%	57.55%	60.62%	63.36%	69.66%	71.77%	73.17%	75.64%	77.40%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.42%	0.41%	0.38%	0.33%	0.27%	0.21%	0.22%
Long-Term Debt to Total Capital	53.13%	57.14%	57.85%	57.55%	60.19%	62.94%	69.28%	71.44%	72.90%	75.43%	77.18%
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%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.01%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.00%
Common Equity to Total Capital	46.87%	42.85%	42.13%	42.42%	39.35%	36.61%	30.31%	28.20%	26.80%	24.33%	22.60%
Debt to EBITDA	3.09	3.59	4.13	3.70	4.30	5.05	4.84	5.36	5.37	5.71	0.00
Net Debt to EBITDA	2.88	3.42	3.92	3.56	3.88	4.83	4.64	5.09	5.07	5.48	0.00
Long-Term Debt to EBITDA	3.09	3.59	4.13	3.70	4.27	5.02	4.82	5.33	5.35	5.70	0.00
Debt to NOPAT	4.68	5.75	3.40	3.18	3.52	3.72	8.19	8.96	8.97	9.56	0.00
Net Debt to NOPAT	4.36	5.48	3.23	3.06	3.17	3.56	7.84	8.51	8.47	9.18	0.00
Long-Term Debt to NOPAT	4.68	5.75	3.40	3.18	3.49	3.70	8.14	8.92	8.94	9.54	0.00
Altman Z-Score	3.44	3.89	4.18	4.20	4.11	3.99	3.82	3.92	3.05	2.60	0.00
Noncontrolling Interest Sharing Ratio	0.04%	0.04%	0.08%	0.09%	0.09%	0.10%	0.06%	0.06%	0.07%	0.07%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.49	0.54	0.52	0.49	0.57	0.55	0.55	0.55	0.60	0.66	0.57
Quick Ratio	0.43	0.46	0.43	0.41	0.50	0.48	0.44	0.46	0.52	0.57	0.49
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	62	26	-117	4.85	39	417	70	94	63	0.00	-659
Operating Cash Flow to CapEx	7,208.11%	1,471.64%	4,757.18%	2,025.44%	5,695.17%	1,428.03%	951.57%	1,156.49%	4,113.52%	649.28%	1,086.63%
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	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	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	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.41	0.40	0.40	0.40	0.38	0.38	0.39	0.37	0.36	0.38	0.00
Accounts Receivable Turnover	4.80	4.45	5.28	4.96	4.54	4.23	5.49	5.14	4.53	4.21	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	38.57	0.00	0.00	0.00	34.97	0.00	0.00	0.00	34.97	0.00	0.00
Accounts Payable Turnover	10.88	14.91	9.06	8.40	9.96	16.00	12.05	9.48	10.39	14.97	0.00
Days Sales Outstanding (DSO)	76.12	82.01	69.17	73.55	80.42	86.26	66.48	71.02	80.62	86.73	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	33.53	24.48	40.31	43.46	36.64	22.82	30.28	38.50	35.15	24.38	0.00
Cash Conversion Cycle (CCC)	42.59	57.53	28.87	30.09	43.78	63.44	36.19	32.53	45.47	62.36	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,258	2,365	2,381	2,268	2,226	2,344	2,215	2,198	2,196	2,282	2,229
Invested Capital Turnover	0.62	0.57	0.57	0.58	0.57	0.53	0.54	0.53	0.52	0.48	0.00
Increase / (Decrease) in Invested Capital	32	21	166	70	31	62	-14	-36	-8.91	0.00	703
Enterprise Value (EV)	13,085	15,439	16,700	16,092	16,729	16,827	16,251	17,394	14,000	12,272	10,465
Market Capitalization	11,924	14,115	15,353	14,808	15,434	15,366	14,727	15,839	12,418	10,562	8,756
Book Value per Share	$3.62	$3.44	$3.42	$3.28	$2.97	$2.98	$2.34	$2.19	$2.11	$1.99	$1.80
Tangible Book Value per Share	($4.90)	($5.10)	($5.24)	($5.02)	($4.98)	($5.52)	($6.17)	($6.41)	($6.60)	($6.78)	($6.85)
Total Capital	2,342	2,429	2,453	2,319	2,368	2,412	2,282	2,281	2,289	2,354	2,302
Total Debt	1,244	1,388	1,419	1,335	1,435	1,528	1,590	1,637	1,675	1,781	1,782
Total Long-Term Debt	1,244	1,388	1,419	1,335	1,425	1,518	1,581	1,629	1,669	1,776	1,777
Net Debt	1,161	1,324	1,347	1,283	1,294	1,460	1,523	1,554	1,581	1,709	1,709
Capital Expenditures (CapEx)	3.04	5.55	1.81	3.09	3.60	6.10	7.65	6.97	4.28	5.56	6.39
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-544	-436	-451	-450	-496	-399	-365	-393	-375	-279	-311
Debt-free Net Working Capital (DFNWC)	-460	-372	-378	-399	-354	-331	-298	-310	-282	-207	-238
Net Working Capital (NWC)	-460	-372	-378	-399	-364	-341	-306	-318	-288	-212	-243
Net Nonoperating Expense (NNE)	2.74	-2.30	7.03	2.61	-0.48	299	3.17	9.26	8.94	1.44	7.21
Net Nonoperating Obligations (NNO)	1,161	1,324	1,347	1,283	1,294	1,460	1,523	1,554	1,581	1,709	1,709
Total Depreciation and Amortization (D&A)	18	18	18	18	18	21	19	19	20	20	20
Debt-free, Cash-free Net Working Capital to Revenue	-39.22%	-32.24%	-34.29%	-35.04%	-39.60%	-32.50%	-30.27%	-33.69%	-32.98%	-25.40%	0.00%
Debt-free Net Working Capital to Revenue	-33.19%	-27.51%	-28.80%	-31.05%	-28.29%	-26.93%	-24.71%	-26.60%	-24.76%	-18.88%	0.00%
Net Working Capital to Revenue	-33.19%	-27.51%	-28.80%	-31.05%	-29.09%	-27.74%	-25.44%	-27.24%	-25.31%	-19.33%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.29	$0.17	$0.13	$0.23	$0.22	$0.57	$0.17	$0.16	$0.15	$0.09	$0.12
Adjusted Weighted Average Basic Shares Outstanding	315.13M	314.89M	315.21M	314.98M	314.30M	312.36M	313.07M	311.91M	310.76M	309.23M	310.12M
Adjusted Diluted Earnings per Share	$0.28	$0.15	$0.13	$0.22	$0.22	$0.55	$0.16	$0.15	$0.14	$0.08	$0.12
Adjusted Weighted Average Diluted Shares Outstanding	333.44M	333.77M	333.79M	333.78M	333.62M	332.50M	332.83M	332.35M	331.25M	331.77M	325.17M
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	303.38M	303.10M	302.25M	302.16M	300.00M	297.33M	295.92M	294.97M	293.37M	290.43M	288.39M
Normalized Net Operating Profit after Tax (NOPAT)	94	47	49	75	70	26	56	37	54	27	44
Normalized NOPAT Margin	25.39%	13.56%	14.73%	22.60%	20.67%	8.51%	18.33%	12.57%	17.31%	9.47%	16.47%
Pre Tax Income Margin	30.18%	18.37%	17.57%	23.42%	27.40%	4.56%	22.69%	15.09%	17.49%	13.64%	17.64%
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	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	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	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	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	29.53%	30.76%	18.87%	17.44%	17.66%	17.98%	30.45%	29.67%	24.71%	19.74%	0.00%
Augmented Payout Ratio	60.60%	58.21%	31.44%	27.44%	21.93%	17.98%	30.45%	39.24%	24.71%	35.90%	0.00%

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 5/30/2025 by MarketBeat.com Staff

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Bentley Systems (BSY) Financials

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