Bentley Systems
Software for designing, delivering, building, and operating infrastructure across its lifecycle.
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Profile
Sells infrastructure-engineering software spanning design, project delivery, construction, asset operations, and subsurface modeling. Revenue comes primarily from recurring software relationships, while iTwin and Bentley Infrastructure Cloud connect lifecycle workflows and the founding family retains concentrated voting control.
Develops infrastructure-engineering software for design, project delivery, construction, and asset operations. MicroStation and Bentley Open applications handle discipline-specific modeling and simulation, while Seequent covers subsurface and geoscience workflows.
Connects lifecycle data through iTwin and Bentley Infrastructure Cloud, whose ProjectWise, SYNCHRO, and AssetWise products span delivery, construction sequencing, and operations. Product continuity and targeted acquisitions have widened the portfolio into electric transmission, geospatial context, and asset analytics.
Earns primarily from recurring software relationships with engineering firms and infrastructure owner-operators across international markets. Demand depends on infrastructure activity, product quality, adaptation to rapid technology change, skilled personnel, and acquisition integration. Public shareholders own Class B stock, while the founding family retains concentrated voting control through super-voting Class A shares.
Company facts
Categories
Key statistics
Year to date −2.3% · Average volume (30d) 2.6M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 7, 2026 | BMO Capital | Reiterate | Outperform | $41 | $43 | |
| Jul 24, 2026 | BMO Capital | Target | $48 | $41 | ||
| Jun 18, 2026 | BNP Paribas | Target | $40 | |||
| May 8, 2026 | Piper Sandler | Upgrade | Neutral | Overweight | ||
| Mar 2, 2026 | Piper Sandler | Reiterate | Neutral | $45 | $42 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $0.32 | $0.35 | +10.7% | $412.1M | $410.7M | −0.3% | −1.89% |
| May 7, 2026Q1 FY26 | $0.36 | $0.38 | +7.0% | $419.8M | $424.2M | +1.0% | −2.56% |
| Feb 26, 2026Q4 FY25 | $0.26 | $0.27 | +3.9% | $381.8M | $391.6M | +2.6% | −1.32% |
| Nov 5, 2025Q3 FY25 | $0.27 | $0.27 | −1.7% | $369.8M | $375.5M | +1.6% | −4.23% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $370.5M | $364.1M | $375.5M | $391.6M | $424.2M | $410.7M | |
| Gross profit | $304.9M | $295.3M | $303.4M | $320.7M | $350.4M | $336.7M | |
| Operating income | $115.2M | $84.4M | $84.5M | $78.5M | $126.3M | $88.6M | |
| Net income | $91.4M | $70.5M | $57.4M | $58.6M | $95.4M | $78.6M | |
| Diluted EPS | $0.28 | $0.22 | $0.17 | $0.18 | $0.30 | $0.25 | |
| Gross margin | 82.3% | 81.1% | 80.8% | 81.9% | 82.6% | 82.0% | |
| Operating margin | 31.1% | 23.2% | 22.5% | 20.0% | 29.8% | 21.6% |
Fiscal years (4-quarter sums)FY21 $968.9M · FY22 $1.10B · FY23 $1.23B · FY24 $1.35B · FY25 $1.50B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $147.0M · Total debt $1.27B · Total assets $3.58B · Shareholders' equity $1.20B
Dividends
Raised for 4 straight years — most recently to $0.07 from $0.06 in Mar 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 2, 2026 | Jun 2 | Jun 11 | $0.07 | |
| Mar 10, 2026 | Mar 10 | Mar 19 | $0.07 | |
| Dec 4, 2025 | Dec 4 | Dec 11 | $0.07 | |
| Sep 23, 2025 | Sep 23 | Sep 30 | $0.07 | |
| Jun 3, 2025 | Jun 3 | Jun 12 | $0.07 | |
| Mar 19, 2025 | Mar 19 | Mar 27 | $0.07 | raised from $0.06 |
| Dec 3, 2024 | Dec 3 | Dec 12 | $0.06 | |
| Sep 17, 2024 | Sep 17 | Sep 26 | $0.06 |
Ownership
Shares outstanding 292.28M · Float 118.75M · 40.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Bentley Corinne Patricia | 38.62M | 13.20% | 13G | May 15, 2026 |
| BlackRock, Inc. | 16.07M | 5.50% | 13F | Aug 7, 2026 |
| Raymond B. Bentley · director, 10 percent owner: | 14.81M | 5.07% | Form 4 | Jun 15, 2026 |
| Barry J. Bentley · director, 10 percent owner: | 11.84M | 4.05% | Form 4 | Jun 15, 2026 |
| Vanguard Portfolio Management LLC | 9.50M | 3.25% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 10, 2026 | Gregory S. Bentley | director, 10 percent owner, officer: Executive Chair & President | −100 | $40.01 |
| Nov 17, 2025 | Thomas F. Trimback | officer: Chief Accounting Officer | −560 | $43.02 |
| Sep 2, 2025 | Gregory S. Bentley | director, 10 percent owner, officer: Executive Chair & President | −37,160 | $54.83 |
Peers
- Autodesk
Broad overlap in infrastructure CAD, BIM, and cloud project delivery
- Trimble
Civil and structural BIM rival with connected project workflows
- Oracle
Project delivery, scheduling, and capital-program software rival
- GE Vernova
Asset-performance software overlap focused on energy infrastructure
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Bentley Systems | $37.00 | −0.78% | $10.90B | 41.4 | 25.5 | 6.8 | +12.8% |
| Autodesk | $260.19 | −0.22% | $55.04B | 33.8 | 19.7 | 7.1 | +16.1% |
| Trimble | $61.01 | 0.00% | $14.22B | — | 15.8 | 3.8 | +11.0% |
| Oracle | $150.95 | +0.17% | $434.14B | 25.9 | 18.7 | 6.4 | +20.6% |
| GE Vernova | $914.10 | +0.30% | $242.88B | 26.2 | 43.5 | 5.9 | +21.9% |
| Median | 26.2 | 19.2 | 6.2 | +18.3% |