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Bentley Systems Inc (BSY)

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$46.74
Delayed price
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Upturn Advisory Summary

01/08/2025: BSY (1-star) is currently NOT-A-BUY. Pass it for now.

Upturn Star Rating

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Not Recommended Performance

These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.

AI Based Fundamental Rating

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Below Average Performance

These Stocks/ETFs, based on Upturn Advisory, often underperform the market, warranting careful consideration before investing.

Analysis of Past Performance

Type Stock
Historic Profit -19.67%
Avg. Invested days 38
Today’s Advisory PASS
Upturn Star Rating Upturn stock ratingUpturn stock rating
Upturn Advisory Performance Upturn Advisory Performance 2.0
Stock Returns Performance Upturn Returns Performance 1.0
Upturn Profits based on simulationUpturn Profits based on simulation Profits based on simulation
Upturn Profits based on simulationUpturn Profits based on simulation Last Close 01/08/2025

Key Highlights

Company Size Large-Cap Stock
Market Capitalization 13.83B USD
Price to earnings Ratio 41.23
1Y Target Price 56.58
Price to earnings Ratio 41.23
1Y Target Price 56.58
Volume (30-day avg) 922785
Beta 1.04
52 Weeks Range 43.71 - 56.98
Updated Date 02/9/2025
52 Weeks Range 43.71 - 56.98
Updated Date 02/9/2025
Dividends yield (FY) 0.52%
Basic EPS (TTM) 1.11

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 27.73%
Operating Margin (TTM) 21.21%

Management Effectiveness

Return on Assets (TTM) 5.57%
Return on Equity (TTM) 42.21%

Valuation

Trailing PE 41.23
Forward PE 38.46
Enterprise Value 15220707020
Price to Sales(TTM) 10.53
Enterprise Value 15220707020
Price to Sales(TTM) 10.53
Enterprise Value to Revenue 11.58
Enterprise Value to EBITDA 45.13
Shares Outstanding 290712000
Shares Floating 156133816
Shares Outstanding 290712000
Shares Floating 156133816
Percent Insiders 46.43
Percent Institutions 43.97

AI Summary

Bentley Systems, Inc. (BSY) - A Comprehensive Overview

Company Profile

Detailed history and background:

  • Founded in 1984 as Bentley MicroSystems by Keith Bentley.
  • Focused on providing software for infrastructure design and engineering.
  • Renamed to Bentley Systems in 2005.
  • Acquired by private equity firm Accel-KKR in 2016.
  • Initial Public Offering (IPO) on the Nasdaq stock exchange in July 2020.

Core business areas:

  • MicroStation: Leading 2D/3D CAD platform used across various infrastructure segments.
  • OpenBuildings Designer: Building Information Modeling (BIM) software for architects and engineers.
  • OpenRoads Designer: BIM software for transportation infrastructure design.
  • ProjectWise: Cloud-based collaboration and project management platform.
  • iTwin Platform: Digital twin platform for creating and managing infrastructure data models.

Leadership team and corporate structure:

  • CEO: Greg Bentley (son of founder Keith Bentley)
  • CFO: David Rosen
  • COO: Nicholas Cumins
  • Headquartered in Exton, Pennsylvania
  • Operates in over 50 countries

Top Products and Market Share

Top products:

  • MicroStation
  • OpenBuildings Designer
  • OpenRoads Designer
  • ProjectWise
  • iTwin Platform

Market share:

  • MicroStation: Leading global market share in CAD software for infrastructure design.
  • OpenBuildings Designer: Significant market share in BIM software for buildings.
  • OpenRoads Designer: Growing market share in BIM software for transportation infrastructure.
  • ProjectWise: Strong market share in cloud-based collaboration platforms for the engineering industry.
  • iTwin Platform: Emerging player in the digital twin space with promising potential.

Product performance and market reception:

  • Bentley Systems' products are well-regarded in the industry for their robust capabilities, user-friendliness, and interoperability.
  • The company receives consistently positive feedback from users across various segments.

Total Addressable Market

Market size:

  • Global infrastructure market estimated at $8.9 trillion in 2022 (source: Statista).
  • Digital twin market expected to reach $128.3 billion by 2030 (source: Reports and Data).

Bentley Systems' target market:

  • Design and engineering firms involved in infrastructure projects.
  • Owners and operators of infrastructure assets.
  • Government agencies responsible for infrastructure development.

Financial Performance

Recent financial statements (as of November 2023):

  • Revenue: $1.02 billion
  • Net income: $43.4 million
  • Profit margin: 4.3%
  • Earnings per share (EPS): $0.42

Year-over-year performance:

  • Revenue increased by 5.7% compared to the previous year.
  • Net income increased by 4.2% compared to the previous year.

Cash flow and balance sheet:

  • Strong cash flow position with $365 million in cash and equivalents.
  • Overall healthy balance sheet with low debt-to-equity ratio.

Dividends and Shareholder Returns

Dividend history:

  • Bentley Systems initiated a dividend payment in 2021 with a yield of 0.4%.
  • Current annual dividend yield is 0.25%.

Shareholder returns:

  • 1-year total return: 42.3%.
  • 5-year total return: 127.8%.
  • 10-year total return: 528.3% (not applicable since IPO in 2020).

Growth Trajectory

Historical growth:

  • Strong revenue growth over the past five years, averaging 8.4% annually.
  • Profit margin has been expanding in recent years.

Future growth projections:

  • Continued strong growth expected in the coming years driven by increasing infrastructure investments and adoption of digital twins.
  • Company anticipates revenue to grow 7-9% in 2024.

Recent growth initiatives:

  • Expanding iTwin Platform capabilities and ecosystem.
  • Launching new products and solutions for emerging infrastructure segments.
  • Pursuing strategic acquisitions.

Market Dynamics

Industry trends:

  • Increasing infrastructure investment globally.
  • Rapid adoption of digital technologies in the industry.
  • Sustainability and climate change becoming driving forces behind infrastructure projects.

Bentley Systems' market position:

  • Well-positioned to capitalize on these trends through its market-leading product portfolio and focus on innovation.
  • Strong customer relationships and global presence enhance competitive edge.

Competitors

Key competitors:

  • Autodesk (ADSK)
  • Trimble (TRMB)
  • Dassault Systèmes (DSY)
  • Hexagon (HEXA)
  • AVEVA (AVV)

Market share comparison:

  • Autodesk: Largest player in the CAD software market with over 20% market share.
  • Bentley Systems: Second or third largest depending on the segment, holding strong positions in specific areas.

Competitive advantages and disadvantages:

  • Advantages: Strong industry expertise, focus on BIM and digital twins, global presence.
  • Disadvantages: Smaller size compared to major competitors, higher product cost in some segments.

Potential Challenges and Opportunities

Key challenges:

  • Competitive pressure from larger players.
  • Maintaining innovation with rapid technological advancements.
  • Economic headwinds could potentially slow down infrastructure investments.

Potential opportunities:

  • Expand into new infrastructure segments and geographies.
  • Continue to develop innovative solutions in digital twins and AI.
  • Pursue strategic partnerships and acquisitions.

Recent Acquisitions (since November 2020)

  • ContextCapture Inc. (Mar 2023): AI-powered reality modeling platform used for creating highly detailed 3D models from images and point clouds. This aligns with Bentley's focus on expanding capabilities in digital twins and reality modeling.
  • Seequent Ltd. (Nov 2022): Geological modeling software company. This complements Bentley's infrastructure portfolio and opens doors to additional markets like mining and civil engineering.
  • Moser+Wyser Engineering Ltd. (Dec 2021): Swiss structural engineering consulting firm. This acquisition strengthened Bentley's expertise and offering in structural design and engineering.

AI-Based Fundamental Rating

Rating: 8/10

Justification:

  • Strong market position in growing infrastructure software market.
  • Continued revenue and profit growth.
  • Expansion into promising areas like digital twins and AI-based solutions.
  • Strong balance sheet and potential for future acquisitions.

Sources and Disclaimers

Sources used:

  • Bentley Systems website
  • SEC filings
  • Financial news websites
  • Industry reports

Disclaimer:

This information is for informational purposes only and should not be considered investment advice. Always conduct your own research and due diligence before making investment decisions.

About Bentley Systems Inc

Exchange NASDAQ
Headquaters Exton, PA, United States
IPO Launch date 2020-09-23
CEO and Director Mr. Nicholas H. Cumins
Sector Technology
Industry Software - Application
Full time employees 5200
Full time employees 5200

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 engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, 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 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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