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Bentley Systems Inc (BSY)



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Upturn Advisory Summary
04/01/2025: BSY (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit -19.67% | Avg. Invested days 38 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Large-Cap Stock | Market Capitalization 12.27B USD | Price to earnings Ratio 56.24 | 1Y Target Price 54.97 |
Price to earnings Ratio 56.24 | 1Y Target Price 54.97 | ||
Volume (30-day avg) 1562498 | Beta 1.04 | 52 Weeks Range 38.66 - 56.89 | Updated Date 04/2/2025 |
52 Weeks Range 38.66 - 56.89 | Updated Date 04/2/2025 | ||
Dividends yield (FY) 0.69% | Basic EPS (TTM) 0.72 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 17.35% | Operating Margin (TTM) 18.53% |
Management Effectiveness
Return on Assets (TTM) 5.83% | Return on Equity (TTM) 24.36% |
Valuation
Trailing PE 56.24 | Forward PE 33.9 | Enterprise Value 13286717699 | Price to Sales(TTM) 9.07 |
Enterprise Value 13286717699 | Price to Sales(TTM) 9.07 | ||
Enterprise Value to Revenue 9.82 | Enterprise Value to EBITDA 34.74 | Shares Outstanding 291566016 | Shares Floating 158358281 |
Shares Outstanding 291566016 | Shares Floating 158358281 | ||
Percent Insiders 45.81 | Percent Institutions 42.46 |
Analyst Ratings
Rating 4.07 | Target Price 57.19 | Buy 3 | Strong Buy 7 |
Buy 3 | Strong Buy 7 | ||
Hold 4 | Sell 1 | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
Bentley Systems Inc

Company Overview
History and Background
Bentley Systems, founded in 1984, provides software solutions for infrastructure engineering. It has grown through organic development and strategic acquisitions, becoming a leading player in its sector.
Core Business Areas
- Infrastructure Engineering Software: Provides software solutions for the design, construction, and operation of infrastructure assets, including buildings, roads, bridges, and utilities. This is the core business area.
- Cloud Services: Offers cloud-based services that enable collaboration, data management, and analytics for infrastructure projects.
- Project Delivery: Provides tools and services to manage projects from planning and design to construction and operations.
Leadership and Structure
The leadership team consists of senior executives with experience in software, engineering, and infrastructure. The organizational structure is designed to support innovation and customer focus.
Top Products and Market Share
Key Offerings
- MicroStation: A CAD software platform for 2D and 3D design and modeling. Competitors include Autodesk's AutoCAD and Nemetschek's Vectorworks. Market share is estimated at approximately 10% of CAD software (across all industries, not just infrastructure). Revenue is significant.
- OpenRoads: Software for road design and construction. Market share is considerable in the road and highway infrastructure sector. Competitors include Autodesk's Civil 3D and Trimble solutions. Revenue is significant.
- OpenBuildings: Software for building design and construction. Market share is considerable in the AEC infrastructure sector. Competitors include Autodesk's Revit and Nemetschek's Allplan. Revenue is significant.
- AssetWise: Asset lifecycle information management software, used by infrastructure asset owners. Competitors include IBM Maximo and AVEVA. Market Share in asset management varies by sector but is estimated in the 8-10% range. Revenue is significant.
Market Dynamics
Industry Overview
The infrastructure software industry is experiencing growth driven by urbanization, aging infrastructure, and increasing demand for sustainable and resilient infrastructure solutions. Digital twins are a key trend.
Positioning
Bentley Systems is a leader in providing comprehensive software solutions for the entire lifecycle of infrastructure assets. Its competitive advantages include deep domain expertise and a broad product portfolio.
Total Addressable Market (TAM)
The global infrastructure software market is estimated to be in the tens of billions of dollars. Bentley Systems is well-positioned to capture a significant share of this market.
Upturn SWOT Analysis
Strengths
- Comprehensive product portfolio
- Strong domain expertise
- Established customer base
- Recurring revenue model
- Strong partnerships
Weaknesses
- High software cost may deter some customers
- Integration complexity across different software products
- Limited market share in certain sectors
- Reliance on infrastructure spending
Opportunities
- Growing demand for digital twins
- Expansion into new geographies
- Increasing adoption of cloud-based solutions
- Strategic acquisitions
- Adoption of AI/ML technologies
Threats
- Competition from larger software companies
- Economic downturns impacting infrastructure spending
- Rapid technological changes
- Cybersecurity risks
- Open Source Alternatives
Competitors and Market Share
Key Competitors
- ADSK
- TRMB
- SNPS
- AVEVA.L
Competitive Landscape
Bentley Systems competes with larger software companies in certain sectors but has a strong focus on infrastructure engineering. It's advantages include its comprehensive product portfolio and domain expertise.
Major Acquisitions
Seequent
- Year: 2021
- Acquisition Price (USD millions): 900
- Strategic Rationale: Expanded Bentley Systems' solutions for subsurface digital twins and geological modeling.
Sensemetrics
- Year: 2021
- Acquisition Price (USD millions): 100
- Strategic Rationale: Adds leading solutions for IoT and sensor technology to infrastructure digital twins.
Growth Trajectory and Initiatives
Historical Growth: Bentley Systems has demonstrated steady growth driven by innovation and strategic acquisitions.
Future Projections: Analyst estimates suggest continued growth, driven by increasing demand for infrastructure software and digital twins.
Recent Initiatives: Recent strategic initiatives may include new product launches, partnerships, and acquisitions.
Summary
Bentley Systems is a strong player in the infrastructure engineering software market with a comprehensive product portfolio and established customer base. It benefits from the growing demand for digital twins and infrastructure modernization. However, it faces competition from larger software companies and economic sensitivities in infrastructure spending, which it should be mindful of.
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Sources and Disclaimers
Data Sources:
- Company Website
- SEC Filings
- Analyst Reports
- Industry Research
Disclaimers:
This analysis is based on available information and is not financial advice. Market conditions and company performance can change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Bentley Systems Inc
Exchange NASDAQ | Headquaters Exton, PA, United States | ||
IPO Launch date 2020-09-23 | CEO & Director Mr. Nicholas H. Cumins | ||
Sector Technology | Industry Software - Application | Full time employees 5500 | Website https://www.bentley.com |
Full time employees 5500 | Website https://www.bentley.com |
Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling applications, such as MicroStation, OpenBridge, OpenBuildings, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite and OpenSite+, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation applications, including ADINA, AutoPIPE, LEGION, OpenPaths, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS. It also provides infrastructure cloud applications, such as ProjectWise, SYNCHRO, and AssetWise, as well as Cesim and iTwin platform that enables users to create and curate cloud native 4D/5D digital representations of physical infrastructure assets consisting of iTwin Capture, iTwin Experience, and iTwin IoT platforms. The company serves civil, structural, geotechnical, subsurface, process engineers, architects, geospatial professionals, city and regional planners, contractors, fabricators, and operations and maintenance engineers. Bentley Systems, Incorporated was incorporated in 1984 and is headquartered in Exton, Pennsylvania.
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