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Bentley Systems Inc (BSY)



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Upturn Advisory Summary
09/17/2025: BSY (2-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $59.08
1 Year Target Price $59.08
7 | Strong Buy |
3 | Buy |
5 | Hold |
1 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 3.4% | Avg. Invested days 40 | 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 15.86B USD | Price to earnings Ratio 66.95 | 1Y Target Price 59.08 |
Price to earnings Ratio 66.95 | 1Y Target Price 59.08 | ||
Volume (30-day avg) 16 | Beta 1.1 | 52 Weeks Range 36.46 - 59.25 | Updated Date 09/17/2025 |
52 Weeks Range 36.46 - 59.25 | Updated Date 09/17/2025 | ||
Dividends yield (FY) 0.49% | Basic EPS (TTM) 0.78 |
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 17.91% | Operating Margin (TTM) 23.68% |
Management Effectiveness
Return on Assets (TTM) 6.34% | Return on Equity (TTM) 23.66% |
Valuation
Trailing PE 66.95 | Forward PE 38.31 | Enterprise Value 17048698320 | Price to Sales(TTM) 11.17 |
Enterprise Value 17048698320 | Price to Sales(TTM) 11.17 | ||
Enterprise Value to Revenue 12.01 | Enterprise Value to EBITDA 42.88 | Shares Outstanding 292092992 | Shares Floating 149281684 |
Shares Outstanding 292092992 | Shares Floating 149281684 | ||
Percent Insiders 44.98 | Percent Institutions 45.37 |
Upturn AI SWOT
Bentley Systems Inc

Company Overview
History and Background
Bentley Systems, founded in 1984, provides software solutions for infrastructure design, construction, and operations. It has grown through organic development and acquisitions, evolving into a leading provider of engineering software.
Core Business Areas
- Engineering Design: Software for 3D modeling, analysis, and simulation of infrastructure projects, including roads, bridges, buildings, and plants.
- Construction Management: Solutions for project management, scheduling, and cost control throughout the construction lifecycle.
- Asset and Network Performance: Software for managing and optimizing the performance of infrastructure assets, including asset information management and digital twins.
- Reality Modeling: Solutions for capturing and processing reality data, such as photogrammetry and laser scanning, to create 3D models of existing infrastructure.
Leadership and Structure
Greg Bentley serves as the Chairman and CEO. The company is structured around product and market segments, with a global sales and support network.
Top Products and Market Share
Key Offerings
- MicroStation: A CAD software platform used for 2D and 3D design and drafting. Competitors include Autodesk's AutoCAD and Nemetschek's Allplan. Market share is substantial within infrastructure projects, but difficult to pinpoint a precise percentage.
- OpenRoads: Software for civil engineering design, specifically for roads and highways. Competitors include Autodesk's Civil 3D and Trimble's Business Center - HCE. Used by many DOTs (Departments of Transportation), but precise revenue figures are not publicly disclosable.
- AssetWise: A platform for asset performance management, used for tracking and optimizing the performance of infrastructure assets. Competitors include IBM Maximo and Oracle EAM. Exact market share figures not publicly available.
- iTwin Platform: A cloud-based platform for digital twins, allowing users to visualize and analyze infrastructure assets in a virtual environment. Competitors include Autodesk Tandem and Siemens MindSphere. Usage growing significantly with the digital transformation of infrastructure.
Market Dynamics
Industry Overview
The engineering software market is growing, driven by increasing demand for infrastructure development, digital transformation, and sustainability. The trend towards BIM (Building Information Modeling) and digital twins is also a major driver.
Positioning
Bentley Systems is a leading provider of software solutions for infrastructure engineering. Its competitive advantages include its comprehensive product portfolio, its focus on infrastructure, and its strong relationships with infrastructure owners and operators.
Total Addressable Market (TAM)
The TAM for infrastructure engineering software is estimated to be in the tens of billions of dollars. Bentley Systems is well-positioned to capture a significant share of this market, leveraging its existing customer base and expanding into new geographies and application areas.
Upturn SWOT Analysis
Strengths
- Strong brand reputation
- Comprehensive product portfolio
- Focus on infrastructure
- Extensive industry knowledge
- Large user base
Weaknesses
- High software costs
- Complexity of software
- Integration challenges with other systems
- Dependence on large projects
Opportunities
- Growing demand for infrastructure development
- Increasing adoption of BIM and digital twins
- Expansion into new geographies
- Development of new software solutions
- Partnerships with other technology companies
Threats
- Competition from larger software companies
- Economic downturn
- Technological disruption
- Cybersecurity threats
- Changing regulatory requirements
Competitors and Market Share
Key Competitors
- Autodesk (ADSK)
- Trimble (TRMB)
- Nemetschek (NEM.DE)
Competitive Landscape
Bentley Systems differentiates itself through its focus on infrastructure and its comprehensive product portfolio. Autodesk is a larger company with a broader product range, while Trimble focuses on construction and surveying.
Major Acquisitions
Seequent
- Year: 2021
- Acquisition Price (USD millions): 900
- Strategic Rationale: Expanded Bentley's geotechnical capabilities and presence in the mining industry.
Growth Trajectory and Initiatives
Historical Growth: Bentley Systems has experienced steady growth over the past years, driven by organic development and acquisitions. Growth varies year to year based on economic factors and specific customer contracts.
Future Projections: Analyst estimates vary, but generally project continued growth for Bentley Systems, driven by the increasing demand for infrastructure development and digital transformation. Refer to analyst reports.
Recent Initiatives: Recent initiatives include investments in digital twins, cloud-based solutions, and strategic partnerships.
Summary
Bentley Systems is a strong player in the infrastructure engineering software market, benefiting from its focused approach and comprehensive product offerings. While the company faces competition from larger and more diversified players, its emphasis on digital twins and cloud solutions positions it well for future growth. Monitoring integration challenges and software costs will be important for sustained success.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company Website
- Company 10K Filings
- Analyst Reports
- Industry Research Reports
Disclaimers:
This analysis is for informational purposes only and should not be considered financial advice. Market share estimates are approximate and may vary. Financial data should be verified with official company filings.
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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