Bentley Systems (BSY)

Nasdaq Information Technology Application Software S&P MidCap 400

$44.65

-0.29 (-0.65%)

Close of Nov 06, 2026 · end-of-day data

Source: Bentley Systems's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$691.71M	$736.65M	$801.54M	$965.05M	$1.10B	$1.23B	$1.35B	$1.50B
Cost of revenue	$131.32M	$144.15M	$167.16M	$216.54M	$237.01M	$266.08M	$257.77M	$277.53M
Gross profit	$560.39M	$592.50M	$634.39M	$748.51M	$862.07M	$962.33M	$1.10B	$1.22B
Research & development	$175.03M	$183.55M	$185.51M	$220.91M	$257.86M	$274.62M	$281.25M	$307.58M
Operating income	$121.39M	$141.87M	$150.15M	$94.59M	$208.61M	$230.54M	$302.15M	$362.62M
Interest expense	$9.61M	$9.73M	$7.22M	$11.53M	$35.06M	$34.97M	$16.97M	$7.58M
Pre-tax income	$112.86M	$128.11M	$167.62M	$93.33M	$198.28M	$183.53M	$293.06M	$350.73M
Income tax	-$29.25M	$23.74M	$38.62M	-$3.45M	$21.28M	-$143.24M	$58.73M	$72.98M
Net income	$142.11M	$103.10M	$126.52M	$93.19M	$174.78M	$326.79M	$234.79M	$277.86M
EBITDA	$150.59M	$174.03M	$186.27M	$147.38M	$280.15M	—	—	—
EPS (basic)	$0.50	$0.36	$0.44	$0.30	$0.57	$1.05	$0.75	$0.88
EPS (diluted)	$0.49	$0.35	$0.42	$0.30	$0.55	$1.00	$0.72	$0.85
Diluted shares	292.62M	293.80M	299.37M	314.61M	331.77M	332.50M	333.77M	333.09M
Gross margin	81.0%	80.4%	79.1%	77.6%	78.4%	78.3%	80.9%	81.5%
Operating margin	17.5%	19.3%	18.7%	9.8%	19.0%	18.8%	22.3%	24.1%
Net margin	20.5%	14.0%	15.8%	9.7%	15.9%	26.6%	17.4%	18.5%

Balance sheet

fiscal years · USD

Fiscal year	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$81.18M	$121.10M	$122.01M	$329.34M	$71.68M	$68.41M	$64.01M	$123.28M
Total current assets	—	$353.56M	$340.26M	$615.83M	$415.89M	$419.56M	$442.07M	$539.03M
Goodwill	$446.32M	$480.06M	$581.17M	$1.59B	$2.24B	$2.27B	$2.37B	$2.48B
Total assets	—	$994.60M	$1.13B	$2.66B	$3.17B	$3.32B	$3.40B	$3.56B
Total current liabilities	—	$392.41M	$465.56M	$593.87M	$628.36M	$760.36M	$814.33M	$960.21M
Short-term debt	—	—	$0	$5.00M	$5.00M	$10.00M	$0	$0
Long-term debt	—	$233.75M	$246.00M	$1.43B	$1.78B	$1.52B	$1.39B	$1.25B
Total debt	—	$233.75M	$246.00M	$1.44B	$1.78B	$1.53B	$1.39B	$1.25B
Total liabilities	—	$659.98M	$784.44M	$2.25B	$2.59B	$2.44B	$2.36B	$2.37B
Shareholders' equity	$147.43M	$334.62M	$341.60M	$409.22M	$573.45M	$883.28M	$1.04B	$1.19B

Cash flow

fiscal years · USD

Fiscal year	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$161.47M	$170.77M	$258.34M	$288.02M	$274.32M	$416.70M	$435.29M	$538.46M
Capital expenditures	$18.62M	$16.64M	$16.45M	$17.54M	$18.55M	$25.00M	$14.05M	$18.25M
Free cash flow	$142.85M	$154.13M	$241.89M	$270.49M	$255.78M	$391.69M	$421.25M	$520.21M
Investing cash flow	-$154.76M	-$53.69M	-$117.33M	-$1.06B	-$770.13M	-$60.50M	-$143.27M	-$112.31M
Financing cash flow	-$58.80M	-$77.05M	-$136.51M	$982.58M	$243.03M	-$359.07M	-$289.85M	-$376.30M
Dividends paid	$20.06M	$24.99M	$422.65M	$33.40M	$34.49M	$58.76M	$72.11M	$84.96M
Share buybacks	$46.45M	$24.17M	$0	$0	$28.25M	$0	$64.36M	$125.06M
Stock-based compensation	$7.88M	$8.09M	$32.11M	$49.05M	$75.21M	$72.97M	$74.42M	$72.58M
Depreciation & amortization	$29.20M	$32.16M	$36.12M	$52.79M	$71.54M	—	—	—

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$310.64M	$337.76M	$330.34M	$335.17M	$349.82M	$370.54M	$364.11M	$375.55M	$391.58M	$424.18M	$410.73M	$421.51M
Cost of revenue	$67.80M	$61.83M	$63.19M	$64.83M	$67.91M	$65.66M	$68.78M	$72.19M	$70.90M	$73.77M	$73.99M	$71.96M
Gross profit	$242.84M	$275.93M	$267.14M	$270.34M	$281.91M	$304.88M	$295.33M	$303.35M	$320.68M	$350.41M	$336.74M	$349.55M
Research & development	$71.24M	$68.37M	$65.71M	$70.07M	$77.10M	$72.45M	$75.39M	$78.75M	$80.99M	$83.00M	$82.09M	$81.47M
Operating income	$37.77M	$91.93M	$80.18M	$68.63M	$61.41M	$115.18M	$84.43M	$84.50M	$78.51M	$126.26M	$88.61M	$122.62M
Interest expense	$7.62M	$5.41M	$4.07M	$3.23M	$4.25M	$2.44M	$1.93M	$1.63M	$1.58M	$7.52M	$8.45M	$9.59M
Pre-tax income	$14.17M	$92.55M	$77.36M	$58.87M	$64.28M	$111.83M	$79.31M	$83.71M	$75.89M	$118.56M	$95.07M	$115.53M
Income tax	-$165.35M	$22.25M	$5.33M	$16.52M	$14.63M	$20.49M	$8.88M	$26.26M	$17.36M	$23.16M	$16.61M	$25.50M
Net income	$179.59M	$70.31M	$72.05M	$42.34M	$50.09M	$91.37M	$70.48M	$57.37M	$58.64M	$95.39M	$78.57M	$89.93M
EBITDA	—	$108.32M	$96.16M	$84.66M	—	$130.82M	$100.18M	—	—	$142.40M	$104.66M	—
EPS (basic)	$0.58	$0.22	$0.23	$0.13	$0.16	$0.29	$0.22	$0.18	$0.18	$0.31	$0.25	$0.29
EPS (diluted)	$0.54	$0.22	$0.22	$0.13	$0.15	$0.28	$0.22	$0.18	$0.18	$0.30	$0.25	$0.29
Diluted shares	358.74K	333.62M	333.78M	333.79M	49.74K	333.44M	332.82M	333.28M	-125.48K	321.84M	318.96M	317.69M
Gross margin	78.2%	81.7%	80.9%	80.7%	80.6%	82.3%	81.1%	80.8%	81.9%	82.6%	82.0%	82.9%
Operating margin	12.2%	27.2%	24.3%	20.5%	17.6%	31.1%	23.2%	22.5%	20.0%	29.8%	21.6%	29.1%
Net margin	57.8%	20.8%	21.8%	12.6%	14.3%	24.7%	19.4%	15.3%	15.0%	22.5%	19.1%	21.3%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$68.41M	$141.60M	$51.28M	$72.17M	$64.01M	$83.64M	$89.65M	$165.41M	$123.28M	$105.16M	$146.98M	$150.87M
Total current assets	$419.56M	$473.69M	$386.69M	$403.82M	$442.07M	$446.06M	$439.52M	$526.83M	$539.03M	$518.23M	$587.89M	$619.52M
Goodwill	$2.27B	$2.26B	$2.27B	$2.39B	$2.37B	$2.38B	$2.42B	$2.41B	$2.48B	$2.47B	$2.47B	$2.44B
Total assets	$3.32B	$3.35B	$3.26B	$3.40B	$3.40B	$3.40B	$3.42B	$3.46B	$3.56B	$3.52B	$3.58B	$3.57B
Total current liabilities	$760.36M	$837.83M	$785.78M	$782.23M	$814.33M	$905.99M	$858.36M	$860.46M	$960.21M	$1.01B	$988.14M	$959.82M
Short-term debt	$10.00M	$10.00M	$0	$0	$0	$0	$0	$0	$0	$0	$6.88M	$13.75M
Long-term debt	$1.52B	$1.43B	$1.33B	$1.42B	$1.39B	$1.24B	$1.25B	$1.25B	$1.25B	$1.12B	$1.21B	$1.15B
Total debt	$1.53B	$1.44B	$1.33B	$1.42B	$1.39B	$1.24B	$1.25B	$1.25B	$1.25B	$1.12B	$1.22B	$1.16B
Total liabilities	$2.44B	$2.42B	$2.27B	$2.36B	$2.36B	$2.31B	$2.26B	$2.27B	$2.37B	$2.30B	$2.38B	$2.29B
Shareholders' equity	$883.28M	$932.61M	$984.51M	$1.03B	$1.04B	$1.10B	$1.16B	$1.20B	$1.19B	$1.23B	$1.20B	$1.28B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$87.05M	$204.97M	$62.59M	$86.11M	$81.63M	$219.41M	$61.09M	$116.38M	$141.59M	$193.41M	$71.51M	$109.43M
Capital expenditures	$6.10M	$3.60M	$3.09M	$1.81M	$5.55M	$3.04M	$4.09M	$5.70M	$5.42M	$5.55M	$7.71M	$7.99M
Free cash flow	$80.96M	$201.37M	$59.50M	$84.30M	$76.08M	$216.37M	$56.99M	$110.67M	$136.17M	$187.86M	$63.80M	$101.44M
Investing cash flow	-$9.26M	-$3.85M	-$7.10M	-$124.73M	-$7.59M	-$3.04M	-$4.09M	-$6.64M	-$98.53M	-$5.55M	-$7.71M	-$8.36M
Financing cash flow	-$79.06M	-$126.44M	-$144.56M	$57.78M	-$76.63M	-$200.81M	-$56.70M	-$33.70M	-$85.09M	-$204.44M	-$20.50M	-$84.08M
Dividends paid	$14.76M	$17.87M	$17.98M	$18.13M	$18.13M	$21.20M	$21.30M	$21.26M	$21.21M	$21.23M	$21.22M	$21.13M
Share buybacks	$0	$15.01M	$22.51M	$8.25M	$18.59M	$30.01M	$20.01M	$15.01M	$60.03M	$40.02M	$85.05M	$10.01M
Stock-based compensation	$16.88M	$19.66M	$22.10M	$16.10M	$16.56M	$17.40M	$19.59M	$18.04M	$17.54M	$20.19M	$22.75M	$21.86M
Depreciation & amortization	—	$16.39M	$15.98M	$16.03M	—	$15.64M	$15.75M	—	—	$16.14M	$16.05M	—

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.