Bentley Systems, Incorporated

BSY

BSYBentley Systems, Incorporated US flag

NASDAQ Global Select

31.90

USD

-0.82

- -

9.32BMarket Cap

Profitability (USD)

Profitability Ratios API ChatGPT

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	42.77	37.42	24.82	35.6	44.89	24.4	24.92
Return on Assets (%)	- -	10.75	11.93	4.92	6	10.08	6.99	7.99
Return on Capital (%)	- -	22.78	21.93	- -	9.6	- -	10.36	11.74
Return on Invested Capital (%)	- -	23.75	22.45	- -	8.65	- -	9.8	11.64
Gross Margin (%)	81.01	80.43	79.15	77.56	78.44	78.34	80.95	81.52
EBITDA Margin (%)	21.77	23.62	26.5	15.27	25.49	24.62	27.11	28.53
Operating Margin (%)	17.55	19.26	21.99	9.8	18.98	18.77	22.33	24.15
Incremental Operating Margin (%)	- -	45.55	53.04	-49.96	85.07	16.96	57.43	40.67
Pretax Margin (%)	16.32	17.39	20.91	9.67	18.04	14.94	21.66	23.35
Profit Margin (%)	20.55	14	15.78	9.66	15.9	26.6	17.35	18.5
Net Income to Common Margin (%)	20.55	14	15.78	9.66	15.9	26.6	17.35	18.5
Effective Tax Rate (%)	- -	18.53	23.04	- -	10.73	- -	20.04	20.81
Dvd Payout Ratio (%)	14.11	24.24	334.05	35.84	19.74	17.98	30.81	30.59
Sustainable Growth Rate (%)	- -	32.41	-87.58	15.93	28.57	36.82	16.88	17.29

Credit (USD)

Credit Ratios API ChatGPT

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	259	234	294	1,489	1,823	1,571	1,427	1,285
ST Debt	- -	- -	17	22	20	22	12	14
LT Debt	259	234	278	1,466	1,803	1,549	1,415	1,271
Total Debt/EBITDA	1.72	1.34	1.39	10.1	6.51	5.19	3.89	3
Net Debt/EBITDA	1.18	0.65	0.58	7.51	6.1	4.83	3.61	2.63
Total Debt/EBIT	2.13	1.65	1.67	15.74	8.74	6.81	4.72	3.54
Net Debt/EBIT	1.46	0.79	0.7	11.7	8.19	6.33	4.38	3.1
EBITDA to Interest Expense	15.68	17.88	29.43	12.79	7.99	7.32	14.8	27.97
EBITDA-CapEx/Interest Expense	13.74	16.17	27.15	11.26	7.46	6.71	14.24	26.77
EBIT to Interest Expense	12.64	14.58	24.43	8.21	5.95	5.58	12.2	23.67
Interest Expense	10	10	7	12	35	41	25	15
Common Equity/Total Assets	15.96	33.64	30.34	15.39	18.1	26.61	30.62	33.46
Long-Term Debt/Equity (%)	175.51	69.86	81.31	358.31	314.47	175.23	135.91	106.86
Long-Term Debt/Capital (%)	63.7	41.13	43.68	77.25	75.25	63.11	57.34	51.37
Long-Term Debt/Total Assets (%)	28.02	23.5	24.67	55.14	56.98	46.66	41.62	35.75
Total Debt/Equity (%)	175.51	69.86	86.18	363.8	317.9	177.68	137.03	108.01
Total Debt/Capital (%)	63.7	41.13	46.29	78.44	76.07	63.99	57.81	51.92
Total Debt/Total Assets (%)	28.02	23.5	26.14	55.98	57.6	47.31	41.96	36.14
Net Debt to Equity	120.44	33.66	36.3	270.43	298.02	165.16	127.18	94.63
Net Debt/Capital (%)	54.64	25.19	24.12	70.55	73.51	61.18	55.08	47.88
EBITDA	151	174	212	147	280	302	367	429
EBITDA-CapEx	132	157	196	130	262	277	353	410
Operating Income (Loss)	121	142	176	95	209	231	302	363

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.19	0.31	0.26	0.55	0.11	0.09	0.08	0.13
Current Ratio	0.65	0.9	0.73	1.04	0.66	0.55	0.54	0.56
Quick Ratio	0.61	0.83	0.67	0.95	0.57	0.48	0.46	0.49
CFO/Avg Current Liab	- -	0.41	0.6	0.54	0.45	0.6	0.55	0.61
Common Equity/Total Assets	15.96	33.64	30.34	15.39	18.1	26.61	30.62	33.46
Long-Term Debt/Equity (%)	175.51	69.86	81.31	358.31	314.47	175.23	135.91	106.86
Long-Term Debt/Capital (%)	63.7	41.13	43.68	77.25	75.25	63.11	57.34	51.37
Long-Term Debt/Total Assets (%)	28.02	23.5	24.67	55.14	56.98	46.66	41.62	35.75
Total Debt/Equity (%)	175.51	69.86	86.18	363.8	317.9	177.68	137.03	108.01
Total Debt/Capital (%)	63.7	41.13	46.29	78.44	76.07	63.99	57.81	51.92
Total Debt/Total Assets (%)	28.02	23.5	26.14	55.98	57.6	47.31	41.96	36.14
CFO/Total Liabilities	20.8	25.88	32.93	12.8	10.59	17.11	18.45	22.76
CFO/CapEx	8.67	10.26	15.71	16.42	14.79	16.67	30.99	29.5
Altman's Z-Score	1.43	2.32	9.85	4.48	4.07	5.5	5.78	5.36

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	3.79	4.06	4.54	4.21	4.23	4.45	4.57
Days Sales Outstanding	- -	96.39	89.83	80.43	86.73	86.26	82	79.86
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	10.99	9.79	13.13	14.97	16	14.91	12.78
Accounts Payable Turnover Days	- -	33.22	37.3	27.79	24.38	22.82	24.48	28.56
Cash Conversion Cycle	- -	63.17	52.53	52.63	62.36	63.44	57.53	51.3
Inventory to Cash Days	- -	96.39	89.83	80.43	86.73	86.26	82	79.86
Inventories	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	11,025	13,655	10,682	15,459	14,102	11,541
- Cash & Cash Equivalents	81	121	122	329	72	68	64	123
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	1	1	- -	- -
+ Total Debt	259	234	294	1,489	1,823	1,571	1,427	1,285
Enterprise Value	178	113	11,197	14,814	12,434	16,962	15,465	12,702
Total Capital	406	568	636	1,898	2,396	2,455	2,468	2,474
Total Debt/Capital (%)	63.7	41.13	46.29	78.44	76.07	63.99	57.81	51.92
Total Debt / EV	1.46	2.08	0.03	0.1	0.15	0.09	0.09	0.1
EV/Sales	0.26	0.15	13.97	15.35	11.31	13.81	11.43	8.46
EV/EBITDA	1.18	0.65	52.72	100.51	44.38	56.09	42.17	29.64
EV/EBIT	1.46	0.79	63.52	156.61	59.6	73.57	51.18	35.03
EV/Cash Flow to Firm	1.02	0.63	42.43	49.38	40.69	34.6	33.98	23.07
EV/Free Cash Flow to Firm	0.92	0.58	39.94	46.66	38.36	32.92	32.96	22.33
Diluted Market Cap	- -	- -	12,128	15,205	12,262	17,350	15,587	12,714
Diluted Enterprise Value	178	113	12,300	16,365	14,014	18,853	16,950	13,876
EV per Share	0.68	0.43	41.14	52.43	43.02	57.25	51.21	42.01
TTM Sales	692	737	802	965	1,099	1,228	1,353	1,502
TTM EBITDA	151	174	212	147	280	302	367	429
TTM Operating Income	121	142	176	95	209	231	302	363
TTM Cash Flow to Firm	174	179	264	300	306	490	455	551
TTM Free Cash Flow to Firm	192	195	280	318	324	515	469	569

Multiples (USD)

Valuation Multiples API ChatGPT

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	44.13	49.76	41.87	39.28	34.69	22.84
EV/EBIT	1.46	0.79	63.52	156.61	59.6	73.57	51.18	35.03
Enterprise Value	178	113	11,197	14,814	12,434	16,962	15,465	12,702
Low Price	- -	- -	27	38.63	26.32	33.75	43.82	36.51
EV/Sales	0.26	0.15	13.97	15.35	11.31	13.81	11.43	8.46
EV/EBITDA	1.18	0.65	52.72	100.51	44.38	56.09	42.17	29.64
Price/Earnings	- -	- -	92.81	158.54	65.39	49.88	62.63	43.23
Price/Earnings Average	- -	- -	80.6	179.62	66.08	44.98	67.12	54.23
Price/Earnings High	- -	- -	94.32	235.93	86.53	52.93	76.7	67.1
Price/Earnings Low	- -	- -	61.86	126.72	46.57	32.26	58.77	41.35
Price/Book Value	- -	- -	32.27	33.37	18.65	17.5	13.55	9.7
Price/Book Value Average	- -	- -	28.03	37.8	18.85	15.78	14.52	12.17
Price/Book Value High	- -	- -	32.8	49.65	24.68	18.57	16.59	15.06
Price/Book Value Low	- -	- -	21.51	26.67	13.28	11.32	12.71	9.28
Price/Tangible Book Value	- -	- -	-38.66	-9.58	-5.46	-9.46	-9.16	-7.77
Price/Tangible Book Value Average	- -	- -	-33.57	-10.86	-5.52	-8.53	-9.81	-9.74
Price/Tangible Book Value High	- -	- -	-39.29	-14.26	-7.22	-10.03	-11.21	-12.06
Price/Tangible Book Value Low	- -	- -	-25.76	-7.66	-3.89	-6.12	-8.59	-7.43
Price/Sales	- -	- -	14.65	15.31	10.4	13.27	10.87	8
Price/Sales Average	- -	- -	12.72	17.35	10.51	11.96	11.65	10.03
Price/Sales High	- -	- -	14.89	22.78	13.76	14.08	13.31	12.42
Price/Sales Low	- -	- -	9.76	12.24	7.41	8.58	10.2	7.65
Price/Cash Flow	- -	- -	45.45	51.3	41.66	39.11	33.78	22.31
Price/Cash Flow Average	- -	- -	39.47	58.12	42.1	35.27	36.2	27.99
Price/Cash Flow High	- -	- -	46.19	76.34	55.13	41.51	41.37	34.63
Price/Cash Flow Low	- -	- -	30.29	41	29.67	25.3	31.7	21.34
Price/Free Cash Flow Average	- -	- -	38.33	56.38	42.31	35.42	37.18	28.65
Price/Free Cash Flow High	- -	- -	44.85	74.05	55.41	41.68	42.48	35.45
Price/Free Cash Flow Low	- -	- -	29.42	39.77	29.82	25.41	32.55	21.84
EV/Sales Average	0.26	0.15	12.16	17.23	11.41	12.57	12.18	10.41
EV/Sales High	0.26	0.15	14.19	22.26	14.46	14.58	13.77	12.7
EV/Sales Low	0.26	0.15	9.38	12.51	8.52	9.36	10.79	8.12
EV/EBITDA Average	1.18	0.65	45.89	112.83	44.78	51.07	44.92	36.5
EV/EBITDA High	1.18	0.65	53.56	145.74	56.71	59.22	50.8	44.52
EV/EBITDA Low	1.18	0.65	35.41	81.92	33.41	38.04	39.8	28.47
EV/EBIT Average	1.46	0.79	55.29	175.81	60.14	66.99	54.53	43.13
EV/EBIT High	1.46	0.79	64.54	227.07	76.16	77.67	61.67	52.61
EV/EBIT Low	1.46	0.79	42.66	127.64	44.86	49.89	48.31	33.65
Last Price	- -	- -	40.51	48.33	36.96	52.18	46.7	38.17
High Price	- -	- -	41.17	71.92	48.91	55.37	57.19	59.25
Enterprise Value Average	178	113	9,747	16,629	12,546	15,443	16,476	15,640
Enterprise Value High	178	113	11,377	21,479	15,888	17,907	18,633	19,076
Enterprise Value Low	178	113	7,521	12,073	9,359	11,502	14,595	12,201

Profitability (USD)

Profitability Ratios API ChatGPT

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	42.77	37.42	24.82	35.6	44.89	24.4	24.92
Return on Assets (%)	- -	10.75	11.93	4.92	6	10.08	6.99	7.99
Return on Capital (%)	- -	22.78	21.93	- -	9.6	- -	10.36	11.74
Return on Invested Capital (%)	- -	23.75	22.45	- -	8.65	- -	9.8	11.64
Gross Margin (%)	81.01	80.43	79.15	77.56	78.44	78.34	80.95	81.52
EBITDA Margin (%)	21.77	23.62	26.5	15.27	25.49	24.62	27.11	28.53
Operating Margin (%)	17.55	19.26	21.99	9.8	18.98	18.77	22.33	24.15
Incremental Operating Margin (%)	- -	45.55	53.04	-49.96	85.07	16.96	57.43	40.67
Pretax Margin (%)	16.32	17.39	20.91	9.67	18.04	14.94	21.66	23.35
Profit Margin (%)	20.55	14	15.78	9.66	15.9	26.6	17.35	18.5
Net Income to Common Margin (%)	20.55	14	15.78	9.66	15.9	26.6	17.35	18.5
Effective Tax Rate (%)	- -	18.53	23.04	- -	10.73	- -	20.04	20.81
Dvd Payout Ratio (%)	14.11	24.24	334.05	35.84	19.74	17.98	30.81	30.59
Sustainable Growth Rate (%)	- -	32.41	-87.58	15.93	28.57	36.82	16.88	17.29

Credit (USD)

Credit Ratios API ChatGPT

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	259	234	294	1,489	1,823	1,571	1,427	1,285
ST Debt	- -	- -	17	22	20	22	12	14
LT Debt	259	234	278	1,466	1,803	1,549	1,415	1,271
Total Debt/EBITDA	1.72	1.34	1.39	10.1	6.51	5.19	3.89	3
Net Debt/EBITDA	1.18	0.65	0.58	7.51	6.1	4.83	3.61	2.63
Total Debt/EBIT	2.13	1.65	1.67	15.74	8.74	6.81	4.72	3.54
Net Debt/EBIT	1.46	0.79	0.7	11.7	8.19	6.33	4.38	3.1
EBITDA to Interest Expense	15.68	17.88	29.43	12.79	7.99	7.32	14.8	27.97
EBITDA-CapEx/Interest Expense	13.74	16.17	27.15	11.26	7.46	6.71	14.24	26.77
EBIT to Interest Expense	12.64	14.58	24.43	8.21	5.95	5.58	12.2	23.67
Interest Expense	10	10	7	12	35	41	25	15
Common Equity/Total Assets	15.96	33.64	30.34	15.39	18.1	26.61	30.62	33.46
Long-Term Debt/Equity (%)	175.51	69.86	81.31	358.31	314.47	175.23	135.91	106.86
Long-Term Debt/Capital (%)	63.7	41.13	43.68	77.25	75.25	63.11	57.34	51.37
Long-Term Debt/Total Assets (%)	28.02	23.5	24.67	55.14	56.98	46.66	41.62	35.75
Total Debt/Equity (%)	175.51	69.86	86.18	363.8	317.9	177.68	137.03	108.01
Total Debt/Capital (%)	63.7	41.13	46.29	78.44	76.07	63.99	57.81	51.92
Total Debt/Total Assets (%)	28.02	23.5	26.14	55.98	57.6	47.31	41.96	36.14
Net Debt to Equity	120.44	33.66	36.3	270.43	298.02	165.16	127.18	94.63
Net Debt/Capital (%)	54.64	25.19	24.12	70.55	73.51	61.18	55.08	47.88
EBITDA	151	174	212	147	280	302	367	429
EBITDA-CapEx	132	157	196	130	262	277	353	410
Operating Income (Loss)	121	142	176	95	209	231	302	363

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.19	0.31	0.26	0.55	0.11	0.09	0.08	0.13
Current Ratio	0.65	0.9	0.73	1.04	0.66	0.55	0.54	0.56
Quick Ratio	0.61	0.83	0.67	0.95	0.57	0.48	0.46	0.49
CFO/Avg Current Liab	- -	0.41	0.6	0.54	0.45	0.6	0.55	0.61
Common Equity/Total Assets	15.96	33.64	30.34	15.39	18.1	26.61	30.62	33.46
Long-Term Debt/Equity (%)	175.51	69.86	81.31	358.31	314.47	175.23	135.91	106.86
Long-Term Debt/Capital (%)	63.7	41.13	43.68	77.25	75.25	63.11	57.34	51.37
Long-Term Debt/Total Assets (%)	28.02	23.5	24.67	55.14	56.98	46.66	41.62	35.75
Total Debt/Equity (%)	175.51	69.86	86.18	363.8	317.9	177.68	137.03	108.01
Total Debt/Capital (%)	63.7	41.13	46.29	78.44	76.07	63.99	57.81	51.92
Total Debt/Total Assets (%)	28.02	23.5	26.14	55.98	57.6	47.31	41.96	36.14
CFO/Total Liabilities	20.8	25.88	32.93	12.8	10.59	17.11	18.45	22.76
CFO/CapEx	8.67	10.26	15.71	16.42	14.79	16.67	30.99	29.5
Altman's Z-Score	1.43	2.32	9.85	4.48	4.07	5.5	5.78	5.36

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	3.79	4.06	4.54	4.21	4.23	4.45	4.57
Days Sales Outstanding	- -	96.39	89.83	80.43	86.73	86.26	82	79.86
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	10.99	9.79	13.13	14.97	16	14.91	12.78
Accounts Payable Turnover Days	- -	33.22	37.3	27.79	24.38	22.82	24.48	28.56
Cash Conversion Cycle	- -	63.17	52.53	52.63	62.36	63.44	57.53	51.3
Inventory to Cash Days	- -	96.39	89.83	80.43	86.73	86.26	82	79.86
Inventories	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	11,025	13,655	10,682	15,459	14,102	11,541
- Cash & Cash Equivalents	81	121	122	329	72	68	64	123
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	1	1	- -	- -
+ Total Debt	259	234	294	1,489	1,823	1,571	1,427	1,285
Enterprise Value	178	113	11,197	14,814	12,434	16,962	15,465	12,702
Total Capital	406	568	636	1,898	2,396	2,455	2,468	2,474
Total Debt/Capital (%)	63.7	41.13	46.29	78.44	76.07	63.99	57.81	51.92
Total Debt / EV	1.46	2.08	0.03	0.1	0.15	0.09	0.09	0.1
EV/Sales	0.26	0.15	13.97	15.35	11.31	13.81	11.43	8.46
EV/EBITDA	1.18	0.65	52.72	100.51	44.38	56.09	42.17	29.64
EV/EBIT	1.46	0.79	63.52	156.61	59.6	73.57	51.18	35.03
EV/Cash Flow to Firm	1.02	0.63	42.43	49.38	40.69	34.6	33.98	23.07
EV/Free Cash Flow to Firm	0.92	0.58	39.94	46.66	38.36	32.92	32.96	22.33
Diluted Market Cap	- -	- -	12,128	15,205	12,262	17,350	15,587	12,714
Diluted Enterprise Value	178	113	12,300	16,365	14,014	18,853	16,950	13,876
EV per Share	0.68	0.43	41.14	52.43	43.02	57.25	51.21	42.01
TTM Sales	692	737	802	965	1,099	1,228	1,353	1,502
TTM EBITDA	151	174	212	147	280	302	367	429
TTM Operating Income	121	142	176	95	209	231	302	363
TTM Cash Flow to Firm	174	179	264	300	306	490	455	551
TTM Free Cash Flow to Firm	192	195	280	318	324	515	469	569

Multiples (USD)

Valuation Multiples API ChatGPT

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	44.13	49.76	41.87	39.28	34.69	22.84
EV/EBIT	1.46	0.79	63.52	156.61	59.6	73.57	51.18	35.03
Enterprise Value	178	113	11,197	14,814	12,434	16,962	15,465	12,702
Low Price	- -	- -	27	38.63	26.32	33.75	43.82	36.51
EV/Sales	0.26	0.15	13.97	15.35	11.31	13.81	11.43	8.46
EV/EBITDA	1.18	0.65	52.72	100.51	44.38	56.09	42.17	29.64
Price/Earnings	- -	- -	92.81	158.54	65.39	49.88	62.63	43.23
Price/Earnings Average	- -	- -	80.6	179.62	66.08	44.98	67.12	54.23
Price/Earnings High	- -	- -	94.32	235.93	86.53	52.93	76.7	67.1
Price/Earnings Low	- -	- -	61.86	126.72	46.57	32.26	58.77	41.35
Price/Book Value	- -	- -	32.27	33.37	18.65	17.5	13.55	9.7
Price/Book Value Average	- -	- -	28.03	37.8	18.85	15.78	14.52	12.17
Price/Book Value High	- -	- -	32.8	49.65	24.68	18.57	16.59	15.06
Price/Book Value Low	- -	- -	21.51	26.67	13.28	11.32	12.71	9.28
Price/Tangible Book Value	- -	- -	-38.66	-9.58	-5.46	-9.46	-9.16	-7.77
Price/Tangible Book Value Average	- -	- -	-33.57	-10.86	-5.52	-8.53	-9.81	-9.74
Price/Tangible Book Value High	- -	- -	-39.29	-14.26	-7.22	-10.03	-11.21	-12.06
Price/Tangible Book Value Low	- -	- -	-25.76	-7.66	-3.89	-6.12	-8.59	-7.43
Price/Sales	- -	- -	14.65	15.31	10.4	13.27	10.87	8
Price/Sales Average	- -	- -	12.72	17.35	10.51	11.96	11.65	10.03
Price/Sales High	- -	- -	14.89	22.78	13.76	14.08	13.31	12.42
Price/Sales Low	- -	- -	9.76	12.24	7.41	8.58	10.2	7.65
Price/Cash Flow	- -	- -	45.45	51.3	41.66	39.11	33.78	22.31
Price/Cash Flow Average	- -	- -	39.47	58.12	42.1	35.27	36.2	27.99
Price/Cash Flow High	- -	- -	46.19	76.34	55.13	41.51	41.37	34.63
Price/Cash Flow Low	- -	- -	30.29	41	29.67	25.3	31.7	21.34
Price/Free Cash Flow Average	- -	- -	38.33	56.38	42.31	35.42	37.18	28.65
Price/Free Cash Flow High	- -	- -	44.85	74.05	55.41	41.68	42.48	35.45
Price/Free Cash Flow Low	- -	- -	29.42	39.77	29.82	25.41	32.55	21.84
EV/Sales Average	0.26	0.15	12.16	17.23	11.41	12.57	12.18	10.41
EV/Sales High	0.26	0.15	14.19	22.26	14.46	14.58	13.77	12.7
EV/Sales Low	0.26	0.15	9.38	12.51	8.52	9.36	10.79	8.12
EV/EBITDA Average	1.18	0.65	45.89	112.83	44.78	51.07	44.92	36.5
EV/EBITDA High	1.18	0.65	53.56	145.74	56.71	59.22	50.8	44.52
EV/EBITDA Low	1.18	0.65	35.41	81.92	33.41	38.04	39.8	28.47
EV/EBIT Average	1.46	0.79	55.29	175.81	60.14	66.99	54.53	43.13
EV/EBIT High	1.46	0.79	64.54	227.07	76.16	77.67	61.67	52.61
EV/EBIT Low	1.46	0.79	42.66	127.64	44.86	49.89	48.31	33.65
Last Price	- -	- -	40.51	48.33	36.96	52.18	46.7	38.17
High Price	- -	- -	41.17	71.92	48.91	55.37	57.19	59.25
Enterprise Value Average	178	113	9,747	16,629	12,546	15,443	16,476	15,640
Enterprise Value High	178	113	11,377	21,479	15,888	17,907	18,633	19,076
Enterprise Value Low	178	113	7,521	12,073	9,359	11,502	14,595	12,201

Shares Outstanding	261	261	272	283	289	296	302	302
Diluted Weighted Avg Shares	261	261	299	315	332	333	334	333
Basic Weighted Avg Shares	261	261	290	306	309	312	315	315
Revenue per Share	2.65	2.82	2.77	3.16	3.55	3.93	4.3	4.77
EBITDA per Share	0.58	0.67	0.73	0.48	0.91	0.97	1.16	1.36
Operating Income per Share	0.46	0.54	0.61	0.31	0.67	0.74	0.96	1.15
Basic EPS, GAAP	0.54	0.39	0.44	0.3	0.57	1.05	0.75	0.88
Basic EPS from Cont Ops	0.54	0.39	0.44	0.3	0.57	1.05	0.74	0.88
Diluted EPS, GAAP	0.54	0.39	0.42	0.3	0.53	0.98	0.7	0.83
Diluted EPS from Cont Ops	0.54	0.39	0.42	0.3	0.53	0.98	0.7	0.83
Dividend per Share	0.08	0.1	1.46	0.11	0.11	0.19	0.23	0.27
Cash Flow per Share	0.62	0.65	0.89	0.94	0.89	1.33	1.38	1.71
Free Cash Flow per Basic Share	0.55	0.59	0.83	0.88	0.83	1.25	1.34	1.65
Cash & Equivalents per Share	0.31	0.46	0.45	1.17	0.25	0.23	0.21	0.41
Book Value per Share	0.56	1.28	1.26	1.45	1.98	2.98	3.45	3.93
Tangible Book Value per Share	-1.35	-0.73	-1.05	-5.04	-6.77	-5.52	-5.1	-4.91

Bentley Systems, Incorporated

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)