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
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
FCF
Total debt
Cash
2025
$1.5B
$278M
81.5%
24.1%
$520M
$1.2B
$123M
2024
$1.4B
$235M
80.9%
22.3%
$421M
$1.4B
$64M
2023
$1.2B
$327M
78.3%
18.8%
$392M
$1.5B
$68M
2022
$1.1B
$175M
78.4%
19.0%
$256M
$1.8B
$72M
2021
$965M
$93M
77.6%
9.8%
$270M
$1.4B
$329M
2020
$802M
$127M
79.1%
18.7%
$242M
$246M
$122M
2019
$737M
$103M
80.4%
19.3%
$154M
$234M
$121M
2018
$692M
$142M
81.0%
17.5%
$143M
—
—
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
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
FCF
Total debt
Cash
Mar '26
$424M
$95M
82.6%
29.8%
$188M
$1.1B
$105M
Dec '25
$392M
$59M
81.9%
20.0%
$136M
$1.2B
$123M
Sep '25
$376M
$57M
80.8%
22.5%
$111M
$1.2B
$165M
Jun '25
$364M
$70M
81.1%
23.2%
$57M
$1.2B
$90M
Mar '25
$371M
$91M
82.3%
31.1%
$216M
$1.2B
$84M
Dec '24
$350M
$50M
80.6%
17.6%
$76M
$1.4B
$64M
Sep '24
$335M
$42M
80.7%
20.5%
$84M
$1.4B
$72M
Jun '24
$330M
$72M
80.9%
24.3%
$59M
$1.3B
$51M
Mar '24
$338M
$70M
81.7%
27.2%
$201M
$1.4B
$142M
Dec '23
$311M
$180M
78.2%
12.2%
$81M
$1.5B
$68M
Sep '23
$307M
$53M
78.9%
24.0%
$65M
$1.6B
$67M
Jun '23
$297M
$49M
77.6%
18.0%
$74M
$1.6B
$83M
Mar '23
$314M
$45M
78.6%
20.9%
$172M
$1.7B
$94M
Dec '22
$287M
$26M
78.3%
14.2%
$31M
$1.8B
$72M
Sep '22
$268M
$37M
77.9%
20.7%
$63M
$1.8B
$73M
Jun '22
$268M
$56M
77.7%
20.8%
$65M
$1.8B
$93M
Mar '22
$276M
$56M
79.8%
20.5%
$98M
$1.9B
$130M
Dec '21
$268M
$39M
77.8%
16.2%
$74M
$1.4B
$329M
Sep '21
$251M
-$48M
78.4%
-14.9%
$52M
$1.3B
$156M
Jun '21
$224M
$46M
76.1%
14.8%
$14M
$1.3B
$131M
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 76.9× (Mar '23) to 32.3× (Jun '26).
The price-to-sales ratio has fallen from 12.2× (Mar '23) to 6.0× (Jun '26).
The dividend yield has risen from 0.3% (Mar '23) to 0.9% (Jun '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?
As of Jun '26, Bentley Systems Inc traded at a price-to-earnings ratio of about 32.3× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.