Bentley Systems, Incorporated (BSY) Stock Analysis & Winston Score

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 and open simulation applications for infrastructure design integration, which include MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenFlows, STAAD and RAM, SACS, MOSES, AutoPIPE, SITEOPS, CUBE, DYNAMEQ, EMME, and LEGION; and geoprofession

Winston Score History

Politician Trades

3 trades / 12mo

2 Congressional buys and 1 sell on BSY in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+14.5% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+6.9% YoY

YoY Growth Rate

Slow EPS growth

Insider Activity

59.4%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Position

Cash flow positive

$105M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Bentley Systems, Incorporated is a rare growth stock that's already generating positive cash flow while growing at 14%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

82.6%

Premium pricing power — 82.6% gross margin

Operating Margin

29.8%

Excellent — 29.8% operating margin

ROCE

5.3%

Weak — 5.3% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+12.2%

Fast-growing sales (12.2% YoY)

EPS YoY

+8.5%

Earnings growing (8.5% YoY)

Single-digit earnings growth — steady but not exciting.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

182%

Turns 182% of profit into real cash

FCF Margin

31.6%

Converts sales into free cash efficiently (31.6%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

0.95

Moderate — manageable debt (0.95)

Interest Cover

10.83x

Comfortably covers interest (10.8x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

35.0x

no trend

Pricey — P/E 35.0

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

+11.9

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (35.0 → 23.1)

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Dividends

Dividend Yield

0.88%

no trend

Small dividend — 0.88% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+7.7%

no trend

Dividend growing modestly (7.7% YoY)

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