8 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 13.4% per year over the past 5 years.
Net income has grown faster than revenue (17.0% vs 13.4% per year).
Operating margin has expanded, at 24.1% in the latest year.
Free cash flow has grown 16.5% per year over the past 5 years.
Financial health
Total debt ($1.2B) exceeds cash ($123M); net debt is $1.1B.
Total debt has grown faster than revenue (38.4% vs 13.4% per year).
Total debt is 3.4× EBITDA.
Shareholder returns
Dividends have been paid for 8 consecutive years, consuming 30.6% of earnings and 16.3% of free cash flow.
The dividend has declined 27.4% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$1.5B
$278M
81.5%
24.1%
23.4%
7.8%
$520M
$1.2B
$123M
2024
$1.4B
$235M
80.9%
22.3%
22.6%
6.9%
$421M
$1.4B
$64M
2023
$1.2B
$327M
78.3%
18.8%
37.0%
9.8%
$392M
$1.5B
$68M
2022
$1.1B
$175M
78.4%
19.0%
—
5.5%
$256M
$1.8B
$72M
2021
$965M
$93M
77.6%
9.8%
22.8%
3.5%
$270M
$1.4B
$329M
2020
$802M
$127M
79.1%
18.7%
37.0%
11.2%
$242M
$246M
$122M
2019
$737M
$103M
80.4%
19.3%
30.8%
10.4%
$154M
$234M
$121M
2018
$692M
$142M
81.0%
17.5%
96.4%
—
$143M
—
—
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Jun '26
$411M
$79M
82.0%
21.6%
6.5%
2.2%
$64M
$1.2B
$147M
Mar '26
$424M
$95M
82.6%
29.8%
7.8%
2.7%
$188M
$1.1B
$105M
Dec '25
$392M
$59M
81.9%
20.0%
4.9%
1.6%
$136M
$1.2B
$123M
Sep '25
$376M
$57M
80.8%
22.5%
4.8%
1.7%
$111M
$1.2B
$165M
Jun '25
$364M
$70M
81.1%
23.2%
6.1%
2.1%
$57M
$1.2B
$90M
Mar '25
$371M
$91M
82.3%
31.1%
8.3%
2.7%
$216M
$1.2B
$84M
Dec '24
$350M
$50M
80.6%
17.6%
4.8%
1.5%
$76M
$1.4B
$64M
Sep '24
$335M
$42M
80.7%
20.5%
—
1.2%
$84M
$1.4B
$72M
Jun '24
$330M
$72M
80.9%
24.3%
—
2.2%
$59M
$1.3B
$51M
Mar '24
$338M
$70M
81.7%
27.2%
—
2.1%
$201M
$1.4B
$142M
Dec '23
$311M
$180M
78.2%
12.2%
20.3%
5.4%
$81M
$1.5B
$68M
Sep '23
$307M
$53M
78.9%
24.0%
—
1.7%
$65M
$1.6B
$67M
Jun '23
$297M
$49M
77.6%
18.0%
—
1.5%
$74M
$1.6B
$83M
Mar '23
$314M
$45M
78.6%
20.9%
—
1.4%
$172M
$1.7B
$94M
Dec '22
$287M
$26M
78.3%
14.2%
—
0.8%
$31M
$1.8B
$72M
Sep '22
$268M
$37M
77.9%
20.7%
7.1%
1.2%
$63M
$1.8B
$73M
Jun '22
$268M
$56M
77.7%
20.8%
11.2%
1.8%
$65M
$1.8B
$93M
Mar '22
$276M
$56M
79.8%
20.5%
12.3%
1.8%
$98M
$1.9B
$130M
Dec '21
$268M
$39M
77.8%
16.2%
9.4%
1.5%
$74M
$1.4B
$329M
Sep '21
$251M
-$48M
78.4%
-14.9%
-12.6%
-2.0%
$52M
$1.3B
$156M
Valuation over time
How the market has priced BSY against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 74.3× (Mar '23) to 45.8× (Nov '26).
The price-to-sales ratio has fallen from 11.8× (Mar '23) to 8.5× (Nov '26).
The dividend yield has risen from 0.3% (Mar '23) to 0.7% (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is BSY growing its revenue and profit?
Over the past 5 years, Bentley Systems Inc's revenue has grown 13.4% per year, and net income grown 17.0% per year. These are computed facts, not advice.
How much debt does BSY have?
As of FY2025, Bentley Systems Inc reported $1.2B of total debt against $123M of cash.
What is BSY's profit margin?
In FY2025, gross margin was 81.5%, operating margin 24.1%, and net margin 18.5%.
What is BSY's P/E ratio?
Bentley Systems Inc's P/E (TTM) is 43.89 as of the 2026-11-03 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the BSY stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 45.8× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.