Bentley Systems Inc
NASDAQ:BSY

Watchlist Manager
Bentley Systems Inc Logo
Bentley Systems Inc
NASDAQ:BSY
Watchlist
Price: 43.66 USD 1.91% Market Closed
Market Cap: 13.2B USD
Section:
Relative Value
Relative Value
Valuation Multiples
Multiples Across Competitors
See Also

Relative Value

The Relative Value of one BSY stock under the Base Case scenario is 46.28 USD. Compared to the current market price of 43.66 USD, Bentley Systems Inc is Undervalued by 6%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

BSY Relative Value
Base Case
46.28 USD
Undervaluation 6%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

9.7
P/S
P/S
Price to Sales
9.7
vs History
86
vs Industry
12
Median 3Y
11.1
Median 5Y
11.7
Industry
2.3
Forward
8.8
More Details
56.2
P/E
P/E
Price to Earnings
56.2
vs History
68
vs Industry
11
Median 3Y
60.1
Median 5Y
81.6
Industry
22.3
Forward
37.4
More Details
30.3
P/OCF
P/OCF
Price to OCF
30.3
vs History
91
vs Industry
20
Median 3Y
35.7
Median 5Y
36.7
Industry
16.8
More Details
51.2
P/FCFE
P/FCFE
Price to FCFE
51.2
vs History
41
vs Industry
14
Median 3Y
69.6
Median 5Y
45.6
Industry
21.1
More Details
12.7
P/B
P/B
Price to Book Value
12.7
vs History
93
vs Industry
9
Median 3Y
18.5
Median 5Y
20.9
Industry
2.8
More Details
10.7
EV/S
EV/S
Enterprise Value to Sales
10.7
vs History
91
vs Industry
10
Median 3Y
12.3
Median 5Y
12.9
Industry
2.3
Forward
9.7
More Details
13.2
EV/GP
EV/GP
Enterprise Value to Gross Profit
13.2
vs History
91
vs Industry
18
Median 3Y
15.5
Median 5Y
16.3
Industry
4.7
More Details
38.5
EV/EBITDA
EV/EBITDA
Enterprise Value to EBITDA
38.5
vs History
91
vs Industry
13
Median 3Y
47.6
Median 5Y
49.9
Industry
12.2
Forward
27
More Details
46.4
EV/EBIT
EV/EBIT
Enterprise Value to EBIT
46.4
vs History
93
vs Industry
11
Median 3Y
61.8
Median 5Y
63.4
Industry
16
Forward
28.9
More Details
33.3
EV/OCF
EV/OCF
Enterprise Value to OCF
33.3
vs History
89
vs Industry
17
Median 3Y
39.7
Median 5Y
41.1
Industry
15.2
More Details
34.4
EV/FCFF
EV/FCFF
Enterprise Value to FCFF
34.4
vs History
93
vs Industry
17
Median 3Y
42.2
Median 5Y
43.5
Industry
18.4
More Details
4.4
EV/IC
EV/IC
Enterprise Value to IC
4.4
vs History
81
vs Industry
25
Median 3Y
4.7
Median 5Y
5.1
Industry
2.3
More Details

Multiples Across Competitors

BSY Competitors Multiples
Bentley Systems Inc Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
Market Cap P/S P/E EV/EBITDA EV/EBIT
US
Bentley Systems Inc
NASDAQ:BSY
13.2B USD 9.7 56.2 38.5 46.4
US
Ezenia! Inc
OTC:EZEN
567B USD 233 910.9 -180 630.8 -182 667.2 -177 298
DE
SAP SE
XETRA:SAP
310.7B EUR 8.8 54.2 29.3 33.5
US
Palantir Technologies Inc
NYSE:PLTR
283.1B USD 98.8 612.5 812.5 895.2
US
Salesforce Inc
NYSE:CRM
263.3B USD 6.9 42.5 23.1 33.6
US
Intuit Inc
NASDAQ:INTU
176.7B USD 10.3 58.2 37 44.4
US
Adobe Inc
NASDAQ:ADBE
167.7B USD 7.6 24.8 18.5 20.5
US
NCR Corp
LSE:0K45
117.6B USD 41.6 124.7 348.9 2 876.5
US
Applovin Corp
NASDAQ:APP
104.6B USD 22.2 66.3 46.2 57.3
US
Microstrategy Inc
NASDAQ:MSTR
96.9B USD 209.1 -83.1 -2 297.2 -1 649
US
Cadence Design Systems Inc
NASDAQ:CDNS
84.5B USD 17.3 78.2 49.5 56.5
P/S Multiple
Revenue Growth P/S to Growth
US
Bentley Systems Inc
NASDAQ:BSY
Average P/S: 21 303.9
9.7
10%
1
US
Ezenia! Inc
OTC:EZEN
233 910.9
N/A N/A
DE
SAP SE
XETRA:SAP
8.8
12%
0.7
US
Palantir Technologies Inc
NYSE:PLTR
98.8
32%
3.1
US
Salesforce Inc
NYSE:CRM
6.9
10%
0.7
US
Intuit Inc
NASDAQ:INTU
10.3
13%
0.8
US
Adobe Inc
NASDAQ:ADBE
7.6
10%
0.8
US
N
NCR Corp
LSE:0K45
41.6
-8%
N/A
US
Applovin Corp
NASDAQ:APP
22.2
20%
1.1
US
Microstrategy Inc
NASDAQ:MSTR
209.1
3%
69.7
US
Cadence Design Systems Inc
NASDAQ:CDNS
17.3
13%
1.3
P/E Multiple
Earnings Growth PEG
US
Bentley Systems Inc
NASDAQ:BSY
Average P/E: 124.2
56.2
26%
2.2
US
Ezenia! Inc
OTC:EZEN
Negative Multiple: -180 630.8 N/A N/A
DE
SAP SE
XETRA:SAP
54.2
50%
1.1
US
Palantir Technologies Inc
NYSE:PLTR
612.5
69%
8.9
US
Salesforce Inc
NYSE:CRM
42.5
32%
1.3
US
Intuit Inc
NASDAQ:INTU
58.2
34%
1.7
US
Adobe Inc
NASDAQ:ADBE
24.8
26%
1
US
N
NCR Corp
LSE:0K45
124.7
-52%
N/A
US
Applovin Corp
NASDAQ:APP
66.3
39%
1.7
US
Microstrategy Inc
NASDAQ:MSTR
Negative Multiple: -83.1 N/A N/A
US
Cadence Design Systems Inc
NASDAQ:CDNS
78.2
33%
2.4
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
US
Bentley Systems Inc
NASDAQ:BSY
Average EV/EBITDA: 156
38.5
23%
1.7
US
Ezenia! Inc
OTC:EZEN
Negative Multiple: -182 667.2 N/A N/A
DE
SAP SE
XETRA:SAP
29.3
19%
1.5
US
Palantir Technologies Inc
NYSE:PLTR
812.5
105%
7.7
US
Salesforce Inc
NYSE:CRM
23.1
21%
1.1
US
Intuit Inc
NASDAQ:INTU
37
29%
1.3
US
Adobe Inc
NASDAQ:ADBE
18.5
17%
1.1
US
N
NCR Corp
LSE:0K45
348.9
11%
31.7
US
Applovin Corp
NASDAQ:APP
46.2
38%
1.2
US
Microstrategy Inc
NASDAQ:MSTR
Negative Multiple: -2 297.2 N/A N/A
US
Cadence Design Systems Inc
NASDAQ:CDNS
49.5
25%
2
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
US
Bentley Systems Inc
NASDAQ:BSY
Average EV/EBIT: 451.6
46.4
28%
1.7
US
Ezenia! Inc
OTC:EZEN
Negative Multiple: -177 298 N/A N/A
DE
SAP SE
XETRA:SAP
33.5
21%
1.6
US
Palantir Technologies Inc
NYSE:PLTR
895.2
107%
8.4
US
Salesforce Inc
NYSE:CRM
33.6
32%
1.1
US
Intuit Inc
NASDAQ:INTU
44.4
35%
1.3
US
Adobe Inc
NASDAQ:ADBE
20.5
20%
1
US
N
NCR Corp
LSE:0K45
2 876.5
79%
36.4
US
Applovin Corp
NASDAQ:APP
57.3
38%
1.5
US
Microstrategy Inc
NASDAQ:MSTR
Negative Multiple: -1 649 N/A N/A
US
Cadence Design Systems Inc
NASDAQ:CDNS
56.5
28%
2

See Also

Summary
BSY intrinsic value, competitors valuation, and company profile.
DCF Valuation
BSY stock valuation using Discount Cash Flow valuation method.
Relative Valuation
BSY stock valuation using valuation multiples.
Wall Street Estimates
BSY price targets and financial estimates made by Wall st analysts.
Profitability Analysis
Detailed analysis of the company's profitability.
Solvency Analysis
Analysis of the financial position and solvency of the company.
Financials
Income Statement, Balance Sheet, Cash Flow Statement.
Discount Rate
BSY stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall Street Estimates
Profitability Analysis
Solvency Analysis
Financials
Discount Rate
Discover More
Back to Top
ALPHA SPREAD
Follow us
Join more than 252,300+ value investors using Alpha Spread
Create a free account
or see our plans & pricing

Company

About Us Careers Pricing Affiliate Program Terms of Service Privacy Policy

Help

What is Intrinsic Value? Help Center Contact Us

Tools

Stock Screener Intrinsic Value Calculator DCF Value Calculator Discount Rate Calculator

Stocks

Most Undervalued Stocks Wide Economic Moat Stocks High Profitability Stocks High Solvency Stocks Most Popular Stocks

© 2025 Alpha Spread Limited. All Rights Reserved.

www.alphaspread.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on www.alphaspread.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. In no event shall Alpha Spread Limited be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on www.alphaspread.com, or relating to the use of, or inability to use, www.alphaspread.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance.