BENTLEY SYSTEMS, INCORPORATED

EDGAR

Annual consolidated revenue for 2025: about USD 1.502B, using the latest reported figures. The previous period, 2024, was about USD 1.353B.

Watchlist

Latest quarter

Revenue

411 million USD

2026 Q2 · USD

Exact inputs and evidence

Operating margin

21.57%

2026 Q2 · %

Exact inputs and evidence
  • Operating Income: 88608000 USD Source
  • Revenue: 410727000 USD Source

Operating cash flow

71.5 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: 264921000 USD Source
  • Operating Cash Flow: 193408000 USD Source

Free cash flow

63.8 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: 264921000 USD Source
  • Operating Cash Flow: 193408000 USD Source
  • Capital Expenditure: 13266000 USD Source
  • Capital Expenditure: 5551000 USD Source
Cash and cash equivalents
147 million USD Source
Exact value

146981000 USD

Long-term debt including current maturities
1.22 billion USD Source
Exact value

1217180000 USD

Shares outstanding
Not available

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-08-06.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 8 of 11 periods available· newest 2025-12-31
  • Operating income: 8 of 11 periods available· newest 2025-12-31
  • Net income: 8 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 8 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 8 of 11 periods available· newest 2025-12-31
  • Total assets: 7 of 11 periods available· newest 2025-12-31
  • Total liabilities: 7 of 11 periods available· newest 2025-12-31
  • Current assets: 7 of 11 periods available· newest 2025-12-31
  • Current liabilities: 7 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 7 of 11 periods available· newest 2025-12-31
  • Long-term debt including current maturities: 7 of 11 periods available· newest 2025-12-31
  • shares outstanding: No compatible figures in this window

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +11%

    Prior period

    USD 1.35 billion

    –

    Current period

    USD 1.5 billion

    –

    Exact inputs and evidence

    1501779000 − 1353095000 = 148684000 USD

    1353095000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    1501779000 USD · 2025-01-01 – 2025-12-31

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  • Net income

    +18.3%

    Prior period

    USD 234.79 million

    –

    Current period

    USD 277.86 million

    –

    Exact inputs and evidence

    277861000 − 234787000 = 43074000 USD

    234787000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    277861000 USD · 2025-01-01 – 2025-12-31

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  • Operating cash flow

    +23.7%

    Prior period

    USD 435.29 million

    –

    Current period

    USD 538.46 million

    –

    Exact inputs and evidence

    538464000 − 435292000 = 103172000 USD

    435292000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    538464000 USD · 2025-01-01 – 2025-12-31

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  • Capital expenditure

    +30%

    Prior period

    USD 14.05 million

    –

    Current period

    USD 18.26 million

    –

    Exact inputs and evidence

    18255000 − 14046000 = 4209000 USD

    14046000 USD · 2024-01-01 – 2024-12-31

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    18255000 USD · 2025-01-01 – 2025-12-31

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Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 1.5 billion 100% of revenue
  • Cost of revenue USD 277.53 million 18% of revenue
  • Operating expenses USD 861.63 million 57% of revenue
  • Operating income USD 362.62 million 24% of revenue
  • Tax, interest and other Derived USD 84.76 million 5.6% of revenue
  • Net income USD 277.86 million 19% of revenue

Cash

  • Operating cash flow USD 538.46 million 36% of revenue
  • Capital expenditure USD 18.26 million 1.2% of revenue
  • Free cash flow Derived USD 520.21 million 35% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2018 Net income was higher than operating income, so the split is not drawn.
  • 2019 14%81%
  • 2020 16%81%
  • 2021 9.7%90%
  • 2022 16%81%
  • 2023 Net income was higher than operating income, so the split is not drawn.
  • 2024 17%78%
  • 2025 19%76%
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2018 2018-01-01 – 2018-12-31691710000 570319000 Derived 121391000 -20721000 Derived 142112000 142849000 Derived
Source
2019 2019-01-01 – 2019-12-31736654000 594789000 Derived 141865000 38769000 Derived 103096000 154134000 Derived
Source
2020 2020-01-01 – 2020-12-31801544000 651394000 Derived 150150000 23629000 Derived 126521000 241893000 Derived
Source
2021 2021-01-01 – 2021-12-31965046000 870457000 Derived 94589000 1397000 Derived 93192000 270485000 Derived
Source
2022 2022-01-01 – 2022-12-311099082000 890470000 Derived 208612000 33832000 Derived 174780000 255778000 Derived
Source
2023 2023-01-01 – 2023-12-311228413000 997871000 Derived 230542000 -96245000 Derived 326787000 391694000 Derived
Source
2024 2024-01-01 – 2024-12-311353095000 1050945000 Derived 302150000 67363000 Derived 234787000 421246000 Derived
Source
2025 2025-01-01 – 2025-12-311501779000 1139158000 Derived 362621000 84760000 Derived 277861000 520209000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 1.5B 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1.6B1.2B811.0M405.5M0.0201820222025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2018Revenue691710000
2019Revenue736654000
2020Revenue801544000
2021Revenue965046000
2022Revenue1099082000
2023Revenue1228413000
2024Revenue1353095000
2025Revenue1501779000

Revenue growth

Change in revenue from the same financial period one year earlier.

11% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.22.0%16.5%11.0%5.5%0.0%201820222025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2018Year over yearNo prior comparable period
2019Year over year6.5%
2020Year over year8.8%
2021Year over year20.4%
2022Year over year13.9%
2023Year over year11.8%
2024Year over year10.1%
2025Year over year11%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 24.1% 2025
Net margin 18.5% 2025
Free cash flow margin 34.6% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.37.4%28.1%18.7%9.4%0.0%201820222025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2018Operating margin17.5%
2019Operating margin19.3%
2020Operating margin18.7%
2021Operating margin9.8%
2022Operating margin19%
2023Operating margin18.8%
2024Operating margin22.3%
2025Operating margin24.1%
2018Net margin20.5%
2019Net margin14%
2020Net margin15.8%
2021Net margin9.7%
2022Net margin15.9%
2023Net margin26.6%
2024Net margin17.4%
2025Net margin18.5%
2018Free cash flow margin20.7%
2019Free cash flow margin20.9%
2020Free cash flow margin30.2%
2021Free cash flow margin28%
2022Free cash flow margin23.3%
2023Free cash flow margin31.9%
2024Free cash flow margin31.1%
2025Free cash flow margin34.6%

Operating cash flow

Cash generated by the company’s normal business operations.

USD 538.5M 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.581.5M436.2M290.8M145.4M0.0201820222025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2018Operating cash flow161465000
2019Operating cash flow170773000
2020Operating cash flow258340000
2021Operating cash flow288024000
2022Operating cash flow274324000
2023Operating cash flow416696000
2024Operating cash flow435292000
2025Operating cash flow538464000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 520.2M 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.561.8M421.4M280.9M140.5M0.0201820222025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2018Free cash flow142849000
2019Free cash flow154134000
2020Free cash flow241893000
2021Free cash flow270485000
2022Free cash flow255778000
2023Free cash flow391694000
2024Free cash flow421246000
2025Free cash flow520209000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

66.5% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.91%69%46%23%0%2018-12-3120222025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2018-12-31Liabilities / assetsNot reportedNo source recorded
2019Liabilities / assets66.4%
2020Liabilities / assets69.7%
2021Liabilities / assets84.6%
2022Liabilities / assets81.9%
2023Liabilities / assets73.4%
2024Liabilities / assets69.4%
2025Liabilities / assets66.5%

Current assets to current liabilities

Current assets divided by current liabilities.

0.56× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1.12×0.84×0.56×0.28×0.00×2018-12-3120222025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2018-12-31Current assets / current liabilitiesNot reportedNo source recorded
2019Current assets / current liabilities0.9×
2020Current assets / current liabilities0.73×
2021Current assets / current liabilities1.04×
2022Current assets / current liabilities0.66×
2023Current assets / current liabilities0.55×
2024Current assets / current liabilities0.54×
2025Current assets / current liabilities0.56×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2018 2018-01-01 – 2018-12-31
USD 142.11 million
Exact value

Exact value: 142112000 USD

2018-01-01 – 2018-12-31: 142112000 USD Inspect Net Income Open source
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USD 161.47 million
Exact value

Exact value: 161465000 USD

2018-01-01 – 2018-12-31: 161465000 USD Inspect Operating Cash Flow Open source
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USD 18.62 million
Exact value

Exact value: 18616000 USD

2018-01-01 – 2018-12-31: 18616000 USD Inspect Capital Expenditure Open source
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USD 142.85 million
Calculation and evidence

161465000 − 18616000 USD

Exact free cash flow: 142849000 USD

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2019 2019-01-01 – 2019-12-31
USD 103.1 million
Exact value

Exact value: 103096000 USD

2019-01-01 – 2019-12-31: 103096000 USD Inspect Net Income Open source
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USD 170.77 million
Exact value

Exact value: 170773000 USD

2019-01-01 – 2019-12-31: 170773000 USD Inspect Operating Cash Flow Open source
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USD 16.64 million
Exact value

Exact value: 16639000 USD

2019-01-01 – 2019-12-31: 16639000 USD Inspect Capital Expenditure Open source
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USD 154.13 million
Calculation and evidence

170773000 − 16639000 USD

Exact free cash flow: 154134000 USD

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2020 2020-01-01 – 2020-12-31
USD 126.52 million
Exact value

Exact value: 126521000 USD

2020-01-01 – 2020-12-31: 126521000 USD Inspect Net Income Open source
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USD 258.34 million
Exact value

Exact value: 258340000 USD

2020-01-01 – 2020-12-31: 258340000 USD Inspect Operating Cash Flow Open source
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USD 16.45 million
Exact value

Exact value: 16447000 USD

2020-01-01 – 2020-12-31: 16447000 USD Inspect Capital Expenditure Open source
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USD 241.89 million
Calculation and evidence

258340000 − 16447000 USD

Exact free cash flow: 241893000 USD

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2021 2021-01-01 – 2021-12-31
USD 93.19 million
Exact value

Exact value: 93192000 USD

2021-01-01 – 2021-12-31: 93192000 USD Inspect Net Income Open source
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USD 288.02 million
Exact value

Exact value: 288024000 USD

2021-01-01 – 2021-12-31: 288024000 USD Inspect Operating Cash Flow Open source
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USD 17.54 million
Exact value

Exact value: 17539000 USD

2021-01-01 – 2021-12-31: 17539000 USD Inspect Capital Expenditure Open source
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USD 270.49 million
Calculation and evidence

288024000 − 17539000 USD

Exact free cash flow: 270485000 USD

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2022 2022-01-01 – 2022-12-31
USD 174.78 million
Exact value

Exact value: 174780000 USD

2022-01-01 – 2022-12-31: 174780000 USD Inspect Net Income Open source
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USD 274.32 million
Exact value

Exact value: 274324000 USD

2022-01-01 – 2022-12-31: 274324000 USD Inspect Operating Cash Flow Open source
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USD 18.55 million
Exact value

Exact value: 18546000 USD

2022-01-01 – 2022-12-31: 18546000 USD Inspect Capital Expenditure Open source
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USD 255.78 million
Calculation and evidence

274324000 − 18546000 USD

Exact free cash flow: 255778000 USD

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2023 2023-01-01 – 2023-12-31
USD 326.79 million
Exact value

Exact value: 326787000 USD

2023-01-01 – 2023-12-31: 326787000 USD Inspect Net Income Open source
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USD 416.7 million
Exact value

Exact value: 416696000 USD

2023-01-01 – 2023-12-31: 416696000 USD Inspect Operating Cash Flow Open source
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USD 25 million
Exact value

Exact value: 25002000 USD

2023-01-01 – 2023-12-31: 25002000 USD Inspect Capital Expenditure Open source
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USD 391.69 million
Calculation and evidence

416696000 − 25002000 USD

Exact free cash flow: 391694000 USD

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2024 2024-01-01 – 2024-12-31
USD 234.79 million
Exact value

Exact value: 234787000 USD

2024-01-01 – 2024-12-31: 234787000 USD Inspect Net Income Open source
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USD 435.29 million
Exact value

Exact value: 435292000 USD

2024-01-01 – 2024-12-31: 435292000 USD Inspect Operating Cash Flow Open source
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USD 14.05 million
Exact value

Exact value: 14046000 USD

2024-01-01 – 2024-12-31: 14046000 USD Inspect Capital Expenditure Open source
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USD 421.25 million
Calculation and evidence

435292000 − 14046000 USD

Exact free cash flow: 421246000 USD

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2025 2025-01-01 – 2025-12-31
USD 277.86 million
Exact value

Exact value: 277861000 USD

2025-01-01 – 2025-12-31: 277861000 USD Inspect Net Income Open source
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USD 538.46 million
Exact value

Exact value: 538464000 USD

2025-01-01 – 2025-12-31: 538464000 USD Inspect Operating Cash Flow Open source
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USD 18.26 million
Exact value

Exact value: 18255000 USD

2025-01-01 – 2025-12-31: 18255000 USD Inspect Capital Expenditure Open source
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USD 520.21 million
Calculation and evidence

538464000 − 18255000 USD

Exact free cash flow: 520209000 USD

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

27 filings · 2,632 latest values · 2,632 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001031308, 1031308, BSY, edgar:1031308

Also known as BENTLEY SYSTEMS INC, BENTLEY SYSTEMS, INCORPORATED