Bentley Systems (BSY)
NASDAQInformation TechnologySoftware - ApplicationSnapshot 2026-09-04
$33.71-5.28%
Close 2026-09-04 · 1-day change
NASDAQInformation TechnologySoftware - ApplicationSnapshot 2026-09-04
QuarterlyIQ Insights · BSY
What must go right, what could break, what the price assumes, and what evidence comes next.
The current health of the standing investment case.
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
One-year growth currently built into the price, compared with our model's estimate.
| Measure | Marker shape | Value |
|---|---|---|
| Growth built into the price | circle | 32.3% |
| Our one-year growth estimate | diamond | 12.5% |
For each item: what to watch, what would become a concern, and what would make it less concerning.
A reporting-risk estimate, not a forecast of the stock-price response.
Historical relationships that met the evidence threshold. They do not prove cause or forecast a move.
Usually moved in the same direction.
Price observations: 365 days
Most sensitive to the broad stock market.
Based on historical daily prices through 2026-09-04.
Past price behavior in dollars on a $10,000 position. This does not measure permanent business risk.
How much price usually moves either way.
Use the underlying financial and sector pages to investigate the cause.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Growth built into the price is above our model estimate.
The price assumes 19.8 percentage points more one-year growth.
The one-year revenue growth assumption on Valuation.
Model as of 2026-09-04 · Compared with 119 industry peers · Company calendar date is not available
BSY — earnings in line
Dated 2026-08-06
Results of Operations and Financial Condition. On August 6, 2026 , Bentley Systems, Incorporated (the “Company”) issued a press release announcing its financial results for the three and six months ended June 30, 2026. A copy of the release is furnished as Exhibit 99.1 and incorporated by reference herein. Exhibit 99.2 sets forth the reasons the Company believes that presentation of the non-GAAP financial measures contained in the press release provides useful information to investors regardi…
Why it matters: If revenue growth is low, it may mean less demand or problems in execution.
Worry ifQ2 2026 total revenue growth reported below 11% year over year.
Less concerning ifQ2 2026 total revenue growth reported at or above 11% year over year.
Why it matters: Good feedback on AI use could help future sales and market position.
Supportive ifManagement says many clients are using AI in their projects.
Worry ifLack of updates or negative feedback from clients on AI integration efforts.
Why it matters: Updates on AI projects may change future growth and competition.
Watch forManagement shares good news about AI projects and how they help revenue.
Also watch forManagement talks about delays in AI projects that hurt revenue growth.
Why it matters: Sustaining ARR growth above 10.5% shows strong demand for Bentley's software. A drop could signal weakening market position.
Supportive ifAnnualized Recurring Revenue (ARR) growth exceeds 10.5% in Q2 2026.
Worry ifARR growth falls below 10.5% in Q2 2026.
We watch for confirming and disproving signals on each item. Resolutions are found automatically where possible and checked by hand for unclear cases. Last 90 days shown.
A larger daily loss that occurred about once in every 20 trading days.
Deepest peak-to-trough drop in the last year.
| Measure | Value | Meaning |
|---|---|---|
| Typical day | ±$136 on $10,000 · ±1.4% | How much price usually moves either way. |
| Bad day | $438 loss on $10,000 · 4.4% | A larger daily loss that occurred about once in every 20 trading days. |
| Largest peak-to-trough drop in the past year | $4,978 loss on $10,000 · 49.8% | Deepest peak-to-trough drop in the last year. |
Past year. 1.00 means similar movement; 1.20 means about 20% more.
Past year. 1.00 means similar movement to the sector. This is secondary context.
Latest 30 trading days, shown as an annual percentage.
Latest 252 trading days, shown as an annual percentage.
20-trading-day average in US dollars.
Trading days used by the source risk snapshot.
Past results, not a forecast. Not investment advice.
Why it matters: A steady operating income margin means good cost control. A drop may worry investors.
Supportive ifOperating income margin stays above 29% in Q2 2026.
Worry ifOperating income margin drops below 29% in Q2 2026.
Why it matters: A drop might show customers leaving or spending less. This can hurt future growth.
Worry ifThe dollar-based net retention rate reported below 109% for the last twelve months.
Less concerning ifThe dollar-based net retention rate reported at or above 109% for the last twelve months.
Why it matters: Meeting or exceeding the revenue guidance supports the growth narrative. Missing it could raise concerns.
Supportive ifTotal revenues for Q2 2026 meet or exceed the guidance range of $1,685 million to $1,715 million.
Worry ifTotal revenues for Q2 2026 fall below the guidance range of $1,685 million.
Why it matters: A steady dividend shows the company is strong and values its shareholders.
Supportive ifManagement declares a dividend of at least $0.07 per share in Q3.
Worry ifNo dividend is declared in Q3.
Why it matters: Cash flow from operations shows the company's ability to generate cash. A drop could raise concerns about liquidity.
Worry ifCash flow from operations for Q2 2026 is less than $193.4 million.
Less concerning ifCash flow from operations for Q2 2026 is at or above $193.4 million.
Why it matters: More net debt could show financial trouble and affect spending decisions.
Worry ifNet debt leverage reported above 2x in Q3.
Less concerning ifNet debt leverage remains at or below 1.9x in Q3.
Why it matters: This would indicate a slowdown in Bentley's key revenue stream and could affect overall growth.
Worry ifQ3 subscription revenue growth reported below 12% year over year.
Less concerning ifQ3 subscription revenue growth remains at or above 12% year over year.
Why it matters: A decline may show cash problems. This can affect spending and returns for shareholders.
Worry ifFree cash flow reported below $60 million.
Less concerning ifFree cash flow remains at or above $60 million.