BSY
Bentley Systems, Incorporated

Bentley Systems, IncorporatedBSY

Technology · Software - Application
44.65USD
-0.65%
Nov 08, 2026
BSY overview ready
Engineering and asset-intelligence software for infrastructure owners and contractors
Bentley is an engineering-software enabler for infrastructure owners and their design and construction partners, including grid-related projects; it monetizes the workflow digitization and asset-management layer rather than supplying electrical equipment or construction labor.
Theme not measured
Engineering Design Software has no leadership state this session.
Advancing price action
Longer-term context reads early recovery, with a near-term setup of daily advance.
Fair valuation
The price broadly reflects the level and quality of its cash generation, with upside and risk reasonably balanced.
Unremarkable fundamentals
Primary risk
Dependence on infrastructure capital spending cycles.
Market Nov 6Filing Sep 30Price action Nov 7Research Jul 29

Conviction Level

Theme Momentum has no canonical measurement for this company — a research-profile dimension, not an input to this score.

PriceAction9.1BusinessPerformance7.0BusinessQuality8.1Valuation4.1ThemeMomentum—Improving — Revenue is growing at a steady pace (+12% year over year). Diluted EPS growth has strengthened to +61% year over year ($0.29), up from +7.1%. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
Engineering Design Software — Engineering Design Software is tracked (3–4 priced members) — too few for a leadership state
Its economic family, Software, reads Weakening (+6.0pp vs SPY) — the family’s reading, not this theme’s.
Price
Loading price history…

Price Action

Advancing price action
Longer-term context reads early recovery, with a near-term setup of daily advance.
EntryConstructive

Structure is constructive on both timeframes without excessive extension — a reasonable entry location.

Key Financials

Market Cap
$14.3B
Avg Volume (60D)
2.9M
60 sessions
Revenue Growth YoY
+11.0%
FY2025 vs FY2024
Gross Margin
+82.4%
Trailing twelve months
Operating Margin
+25.2%
Trailing twelve months
Free Cash Flow Yield
+3.4%
Distance from 200DMA
+30.0%
P/E
44.2x
EV / Sales
9.3x
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Improving

Revenue is growing at a steady pace (+12% year over year). Diluted EPS growth has strengthened to +61% year over year ($0.29), up from +7.1%.

Latest reported: Q3 FY2026, ended Sep 30
Revenue growthGrowing
+12%
$422M in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +12%
  2. +15%
  3. +13%
  4. +12%
Earnings growthAccelerating
+61%
Diluted EPS $0.29 vs $0.18 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. +13%
  2. +7.1%
  3. +14%
  4. +61%
Operating marginSwinging
29.1%
+6.6 pp YoY · gross margin 82.9% (+2.1 pp)

Business Quality

8.1 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

Two of the three valuation perspectives say fair; peers is the dissenting view.
Bentley Systems, Incorporated has a Fair valuation stance because the price broadly reflects the level and quality of its cash generation, with upside and risk reasonably balanced.

What changed

  • BENTLEY SYSTEMS INC — 8-K (items 2.02, 9.01)
    Reported on 8-K, dated 2026-11-05.
    2026-11-05 · source
  • Price structure improved
    BSY: behavior moved from damaged structure to strong advance, and weekly structure moved from downtrend to uptrend.
    2026-10-31

Company Research

Thesis
Bentley is an engineering-software enabler for infrastructure owners and their design and construction partners, including grid-related projects; it monetizes the workflow digitization and asset-management layer rather than supplying electrical equipment or construction labor.
Opportunity
Moderate opportunity
Utility, engineering-contractor, and asset-owner adoption of specialized design, modeling, simulation, digital-delivery, and asset-intelligence software to plan, build, interconnect, operate, and maintain expanding transmission and distribution networks.
Key risk
Dependence on infrastructure capital spending cycles.

Economic classification

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Business & Markets

Technology · Software - Application
What they do

Bentley Systems develops and licenses software solutions for infrastructure engineering, enabling design, modeling, simulation, and asset management for infrastructure projects worldwide.

How it earns

Primarily subscription-based licensing of software products and related services.

Products & services
MicroStation
OpenBridge
OpenBuildings
OpenFlows
OpenPlant
OpenRail
OpenRoads
OpenSite
ADINA
AutoPIPE
STAAD
Customers & end markets
Infrastructure owners
Engineering contractors
Utility companies
Market position

Leader in specialized infrastructure engineering software with a broad portfolio serving multiple infrastructure sectors.

Demand drivers
Medium cyclicality

Demand tied to infrastructure investment cycles and capital spending by utilities and engineering firms.