Bentley Systems Inc (BSY) - Net Assets
Based on the latest financial reports, Bentley Systems Inc (BSY) has net assets worth $1.19 Billion USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($3.56 Billion) and total liabilities ($2.37 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Bentley Systems Inc (BSY) asset resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.19 Billion |
| % of Total Assets | 33.46% |
| Annual Growth Rate | 34.75% |
| 5-Year Change | 190.67% |
| 10-Year Change | N/A |
| Growth Volatility | 39.21 |
Bentley Systems Inc - Net Assets Trend (2018–2025)
This chart illustrates how Bentley Systems Inc's net assets have evolved over time, based on quarterly financial data. Also explore Bentley Systems Inc total assets for the complete picture of this company's asset base.
Annual Net Assets for Bentley Systems Inc (2018–2025)
The table below shows the annual net assets of Bentley Systems Inc from 2018 to 2025. For live valuation and market cap data, see Bentley Systems Inc market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $1.19 Billion | +14.25% |
| 2024-12-31 | $1.04 Billion | +17.78% |
| 2023-12-31 | $883.98 Million | +54.15% |
| 2022-12-31 | $573.45 Million | +40.13% |
| 2021-12-31 | $409.22 Million | +19.80% |
| 2020-12-31 | $341.60 Million | +2.09% |
| 2019-12-31 | $334.62 Million | +126.97% |
| 2018-12-31 | $147.43 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Bentley Systems Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 17829500000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $3.02 Million | 0.25% |
| Other Comprehensive Income | $-74.56 Million | -6.27% |
| Other Components | $1.30 Billion | 109.40% |
| Total Equity | $1.19 Billion | 100.00% |
Bentley Systems Inc Competitors by Market Cap
The table below lists competitors of Bentley Systems Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
The Indian Hotels Company Limited
NSE:INDHOTEL
|
$9.79 Billion |
|
Aditya Birla Capital Limited
NSE:ABCAPITAL
|
$9.79 Billion |
|
CICT Mobile Communication Technology Co. Ltd. A
SHG:688387
|
$9.80 Billion |
|
Advantech Co Ltd
TW:2395
|
$9.80 Billion |
|
APA Group
AU:APA
|
$9.77 Billion |
|
Suzhou Maxwell Technologies Co Ltd Class A
SHE:300751
|
$9.77 Billion |
|
Loongson Technology Corp. Ltd. A
SHG:688047
|
$9.75 Billion |
|
Gotion High tech Co Ltd
SHE:002074
|
$9.75 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Bentley Systems Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,040,987,000 to 1,189,413,000, a change of 148,426,000 (14.3%).
- Net income of 277,861,000 contributed positively to equity growth.
- Dividend payments of 84,963,000 reduced retained earnings.
- Share repurchases of 157,244,000 reduced equity.
- Other comprehensive income increased equity by 29,520,000.
- Other factors increased equity by 83,252,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $277.86 Million | +23.36% |
| Dividends Paid | $84.96 Million | -7.14% |
| Share Repurchases | $157.24 Million | -13.22% |
| Other Comprehensive Income | $29.52 Million | +2.48% |
| Other Changes | $83.25 Million | +7.0% |
| Total Change | $- | 14.26% |
Book Value vs Market Value Analysis
This analysis compares Bentley Systems Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 9.40x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 59.47x to 9.40x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2018-12-31 | $0.56 | $33.56 | x |
| 2019-12-31 | $1.28 | $33.56 | x |
| 2020-12-31 | $1.14 | $33.56 | x |
| 2021-12-31 | $1.30 | $33.56 | x |
| 2022-12-31 | $1.73 | $33.56 | x |
| 2023-12-31 | $2.66 | $33.56 | x |
| 2024-12-31 | $3.12 | $33.56 | x |
| 2025-12-31 | $3.57 | $33.56 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Bentley Systems Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 23.36%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 18.50%
- • Asset Turnover: 0.42x
- • Equity Multiplier: 2.99x
- Recent ROE (23.36%) is below the historical average (37.56%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2018 | 96.39% | 20.55% | 0.75x | 6.26x | $127.37 Million |
| 2019 | 30.81% | 14.00% | 0.74x | 2.97x | $69.63 Million |
| 2020 | 37.04% | 15.78% | 0.71x | 3.30x | $92.36 Million |
| 2021 | 22.77% | 9.66% | 0.36x | 6.50x | $52.27 Million |
| 2022 | 30.52% | 15.90% | 0.35x | 5.53x | $117.50 Million |
| 2023 | 37.00% | 26.60% | 0.37x | 3.76x | $238.46 Million |
| 2024 | 22.55% | 17.35% | 0.40x | 3.27x | $130.69 Million |
| 2025 | 23.36% | 18.50% | 0.42x | 2.99x | $158.92 Million |
Industry Comparison
This section compares Bentley Systems Inc's net assets metrics with peer companies in the Software - Application industry.
Industry Context
- Industry: Software - Application
- Average net assets among peers: $1,232,448,014
- Average return on equity (ROE) among peers: 1.73%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Bentley Systems Inc (BSY) | $1.19 Billion | 96.39% | 1.99x | $9.78 Billion |
| Adobe Systems Incorporated (ADBE) | $9.36 Billion | 27.67% | 1.00x | $93.73 Billion |
| ADEIA CORP (ADEA) | $545.10 Million | -11.47% | 0.92x | $3.00 Billion |
| Automatic Data Processing Inc (ADP) | $949.50 Million | 19.76% | 0.77x | $76.36 Billion |
| Autodesk Inc (ADSK) | $267.30 Million | 21.62% | 0.23x | $48.93 Billion |
| AudioEye Inc (AEYE) | $9.44 Million | -45.08% | 2.15x | $71.03 Million |
| Agilysys Inc (AGYS) | $52.90 Million | 15.69% | 1.77x | $1.91 Billion |
| Firefly Neuroscience, Inc. (AIFF) | $-3.01 Million | 0.00% | 0.00x | $24.73 Million |
| XIAO-I Corporation American Depositary Shares (AIXI) | $-8.47 Million | 0.00% | 0.00x | $10.77 Million |
| Alight Inc (ALIT) | $805.00 Million | 2.73% | 7.18x | $408.81 Million |
| Alkami Technology Inc (ALKT) | $344.61 Million | -13.59% | 0.27x | $1.72 Billion |
About Bentley Systems Inc
Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling applications, such as MicroStation, OpenBridge, OpenBuildings, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite and OpenSite+, OpenTower, OpenTunnel, and OpenUtilities; and … Read more