BSY Class B Bentley Systems, Incorporated - Class B Common Stock
NASDAQ · Technology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 6, 2026
$32.23
· of 52w range
· above low
· to high
$28.0852w low
$57.2552w high
Market Cap (MRQ)
$9.73B
P/E (TTM)
35.8
EPS (TTM)
$0.90
Revenue (TTM)
$1.60B
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52W Range
$28–$57
Analyst Rating
BUY
Price Target
$44
P/E
35.8
ROE
24.5%
Net Profit Margin
18.1%
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BSY Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$32.23
Market Cap (MRQ)
$9.73B
P/E (TTM)
35.8
EPS (TTM)
$0.90
Revenue (TTM)
$1.60B
Div Yield
0.87%
ROE (TTM)
24.5%
Debt/Equity (MRQ)
1.0
52W Range
$28–$57
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$1.50B2018-12-31 → 2025-12-31
EPS$0.852018-12-31 → 2025-12-31
Free Cash Flow$520M2020-12-31 → 2025-12-31
Net margin18.1%2021-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | BSY | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 35.85Y avg ≈78.0 | ≈78.0 | 49.0 | Undervalued | |
| P/S (TTM) | 6.15Y avg ≈10.9 | ≈10.9 | 8.4 | Undervalued | |
| P/B (MRQ) | 8.15Y avg ≈18.5 | ≈18.5 | 7.0 | Fair value | |
| EV / EBITDA | 30.15Y avg ≈60.8 | ≈60.8 | · | · | |
| Price / FCF (TTM) | 19.55Y avg ≈37.5 | ≈37.5 | · | · | |
| Price / Cash Flow (TTM) | 18.65Y avg ≈35.5 | ≈35.5 | 32.2 | Undervalued | |
| EV / Revenue | 7.35Y avg ≈12.0 | ≈12.0 | · | · | |
| EV / FCF | 21.05Y avg ≈41.4 | ≈41.4 | · | · | |
| Price / Tangible Book (MRQ) | 9.4 | · | · | · | |
| PEG Ratio | ≈2.4 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | BSY | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Gross Margin (TTM) | 81.8%5Y avg ≈79.4% | ≈79.4% | 82.2% | In line | |
| Operating Margin (TTM) | 23.6%5Y avg ≈18.8% | ≈18.8% | 2.9% | Top tier | |
| EBITDA Margin | 24.1%5Y avg ≈21.2% | ≈21.2% | 2.9% | Top tier | |
| Pretax Margin (TTM) | 23.3%5Y avg ≈17.5% | ≈17.5% | 4.7% | Top tier | |
| Net Profit Margin (TTM) | 18.1%5Y avg ≈17.6% | ≈17.6% | 4.6% | Top tier | |
| ROA (TTM) | 8.3%5Y avg ≈7.1% | ≈7.1% | -1.7% | Top tier | |
| ROE (TTM) | 24.5%5Y avg ≈29.0% | ≈29.0% | -2.9% | Top tier | |
| ROIC | 11.8%5Y avg ≈10.4% | ≈10.4% | -2.8% | Top tier |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | BSY | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 1.05Y avg ≈2.1 | ≈2.1 | 0.3 | High debt | |
| Current Ratio (MRQ) | 0.65Y avg ≈0.7 | ≈0.7 | 1.6 | Low liquidity | |
| Quick Ratio | 0.15Y avg ≈0.2 | ≈0.2 | 0.9 | Low liquidity | |
| Long-Term Debt / Equity (MRQ) | 1.05Y avg ≈2.1 | ≈2.1 | 0.1 | High debt |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | BSY | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 11.0%5Y avg ≈13.4% | ≈13.4% | · | · | |
| Revenue CAGR 3Y | 11.0%5Y avg ≈12.7% | ≈12.7% | · | · | |
| Revenue CAGR 5Y | 13.4% | · | · | · | |
| EPS YoY | 18.1%5Y avg ≈25.3% | ≈25.3% | · | · | |
| Net Income YoY | 18.4%5Y avg ≈27.7% | ≈27.7% | · | · | |
| EPS CAGR 3Y | 15.6%5Y avg ≈27.7% | ≈27.7% | · | · | |
| EPS CAGR 5Y | 15.1% | · | · | · | |
| Net Income CAGR 3Y | 16.7%5Y avg ≈30.0% | ≈30.0% | · | · | |
| Net Income CAGR 5Y | 17.0% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | BSY | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.45Y avg ≈0.4 | ≈0.4 | 0.5 | In line | |
| Revenue / Employee | ≈$258.9K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield0.87%
Payout Ratio30.6%
Annualized Payout≈$0.28
Growth Streak≈3
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Sep 22, 2026 | $0.07 | USD | ≈0.88% |
| Jun 2, 2026 | $0.07 | USD | ≈0.82% |
| Mar 10, 2026 | $0.07 | USD | ≈0.72% |
| Dec 4, 2025 | $0.07 | USD | ≈0.66% |
| Sep 23, 2025 | $0.07 | USD | ≈0.51% |
| Jun 3, 2025 | $0.07 | USD | ≈0.55% |
| Mar 19, 2025 | $0.07 | USD | ≈0.60% |
| Dec 3, 2024 | $0.06 | USD | ≈0.49% |
| Sep 17, 2024 | $0.06 | USD | ≈0.46% |
| Jun 4, 2024 | $0.06 | USD | ≈0.44% |
| Mar 19, 2024 | $0.06 | USD | ≈0.42% |
| Dec 1, 2023 | $0.05 | USD | ≈0.38% |
| Aug 14, 2023 | $0.05 | USD | ≈0.45% |
| Jun 7, 2023 | $0.05 | USD | ≈0.32% |
| Feb 17, 2023 | $0.05 | USD | ≈0.34% |
| Nov 29, 2022 | $0.03 | USD | ≈0.32% |
| Sep 7, 2022 | $0.03 | USD | ≈0.32% |
| Jun 8, 2022 | $0.03 | USD | ≈0.34% |
| Mar 7, 2022 | $0.03 | USD | ≈0.33% |
| Dec 8, 2021 | $0.03 | USD | ≈0.24% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
6.8%
Next Report
Nov 03, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 4, 2026 | $0.35 | $0.32 | 9.6% |
| March 31, 2026 | May 7, 2026 | $0.38 | $0.36 | 5.9% |
| Dec. 31, 2025 | $0.27 | $0.26 | 2.5% | |
| Sept. 30, 2025 | $0.27 | $0.28 | -2.5% | |
| June 30, 2025 | $0.32 | $0.29 | 11.5% | |
| March 31, 2025 | $0.35 | $0.31 | 13.8% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.50B | $1.35B | $1.23B | $1.10B | $965M | $802M | $737M | $692M | |
| Cost of Revenue | $278M | $258M | $266M | $237M | $217M | $167M | $144M | $131M | |
| Gross Profit | $1.22B | $1.10B | $962M | $862M | $749M | $634M | $593M | $560M | |
| R&D Expense | $308M | $281M | $275M | $258M | $221M | $186M | $184M | $175M | |
| SG&A Expense | $217M | $210M | $181M | $175M | $150M | $113M | $97M | $89M | |
| Operating Expenses | $862M | $793M | $732M | $653M | $654M | $484M | $451M | $439M | |
| Operating Income | $363M | $302M | $231M | $209M | $95M | $150M | $142M | $121M | |
| Interest Expense | · | · | · | $35M | $12M | $7M | $10M | $10M | |
| Interest Income | $3M | $3M | $2M | $421.0K | $306.0K | $437.0K | $2M | $842.0K | |
| Other Non-op | $547.0K | $13M | $-7M | $24M | $10M | $24M | $-6M | $236.0K | |
| Pretax Income | $351M | $293M | $184M | $198M | $93M | $168M | $128M | $113M | |
| Income Tax | $73M | $59M | $-143M | $21M | $-3M | $39M | $24M | $-29M | |
| Net Income | $278M | $235M | $327M | $175M | $93M | $127M | $103M | $142M | |
| EPS (Basic) | $0.88 | $0.75 | $1.05 | $0.57 | $0.30 | $0.44 | $0.36 | $0.50 | |
| EPS (Diluted) | $0.85 | $0.72 | $1.00 | $0.55 | $0.30 | $0.42 | $0.35 | $0.49 | |
| Shares (Basic) | 314,690,707 | 314,886,615 | 312,358,823 | 309,226,677 | 305,711,345 | 289,863,272 | 284,625,642 | 285,805,096 | |
| Shares (Diluted) | 333,089,213 | 333,774,167 | 332,503,633 | 331,765,158 | 314,610,814 | 299,371,129 | 293,796,707 | 292,624,496 | |
| EBITDA | $363M | $302M | $231M | $280M | $147M | $186M | · | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $123M | $64M | $68M | $72M | $329M | $122M | $121M | · | |
| Prepaid Expense | $53M | $51M | · | · | · | · | · | · | |
| Current Assets | $539M | $442M | $420M | $416M | $616M | $340M | $354M | · | |
| PP&E (Net) | $36M | · | · | · | · | · | · | · | |
| PP&E (Gross) | $113M | · | · | · | · | · | · | · | |
| Accum. Depreciation | $77M | · | · | · | · | · | · | · | |
| Goodwill | $2.48B | $2.37B | $2.27B | $2.24B | $1.59B | $581M | $480M | $446M | |
| Intangibles | $193M | $214M | $249M | $292M | $246M | $46M | $46M | · | |
| Other Non-current Assets | $76M | $86M | $67M | $72M | $49M | $40M | $32M | · | |
| Total Assets | $3.56B | $3.40B | $3.32B | $3.17B | $2.66B | $1.13B | $995M | · | |
| Accounts Payable | $27M | $16M | $18M | $15M | $16M | $16M | $18M | · | |
| Accrued Liabilities | $173M | $170M | $457M | $362M | $324M | $227M | $168M | · | |
| Current Liabilities | $960M | $814M | $760M | $628M | $594M | $466M | $392M | · | |
| Capital Leases | $22M | $27M | $31M | $28M | $35M | $32M | $0 | · | |
| Deferred Tax | $4M | $9M | $10M | $51M | $65M | $11M | $8M | · | |
| Other Non-current Liabilities | $5M | $4M | $5M | $7M | $14M | $13M | $9M | · | |
| Total Liabilities | $2.37B | $2.36B | $2.44B | $2.59B | $2.25B | $784M | $660M | · | |
| Long-term Debt | $1.25B | $1.39B | $1.53B | $1.78B | $1.44B | $246M | $234M | · | |
| Total Debt | $1.25B | $1.39B | $1.53B | $1.78B | $1.44B | $246M | · | · | |
| Common Stock | · | · | · | $3M | $3M | $3M | $3M | · | |
| Paid-in Capital | $1.30B | $1.22B | $1.13B | $1.03B | $938M | $741M | $409M | · | |
| Retained Earnings | $-40M | $-76M | $-162M | $-371M | $-440M | $-376M | $-53M | · | |
| AOCI | $-75M | $-104M | $-85M | $-90M | $-92M | $-26M | $-24M | · | |
| Stockholders' Equity | $1.19B | $1.04B | $883M | $573M | $409M | $342M | $335M | $147M | |
| Liabilities + Equity | $3.56B | $3.40B | $3.32B | $3.17B | $2.66B | $1.13B | $995M | · | |
| Shares Outstanding | 302,355,097 | 301,977,330 | 296,265,837 | 289,014,487 | 282,526,719 | 272,154,504 | 254,842,949 | 250,283,513 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | $72M | $53M | $36M | $32M | $29M | |
| Stock-based Comp | $73M | $74M | $73M | $75M | $49M | $32M | $8M | $8M | |
| Deferred Tax | $24M | $13M | $-199M | $-5M | $-20M | $16M | $732.0K | $-60M | |
| Amort. of Intangibles | $33M | $34M | $39M | $41M | $26M | $15M | $14M | $14M | |
| Restructuring | · | · | · | · | · | $10M | $-584.0K | $7M | |
| Other Non-cash | · | · | · | $-42M | $113M | $47M | · | · | |
| Operating Cash Flow | $538M | $435M | $417M | $274M | $288M | $258M | $171M | $161M | |
| CapEx | $18M | $14M | $25M | $19M | $18M | $16M | $17M | $19M | |
| Investing Cash Flow | $-112M | $-143M | $-61M | $-770M | $-1.06B | $-117M | $-54M | $-155M | |
| Stock Issued | · | · | · | $0 | $0 | $58M | $5M | · | |
| Stock Repurchased | $125M | $64M | $0 | $28M | $0 | $0 | $24M | $46M | |
| Net Stock Activity | $-125M | $-64M | $0 | $-28M | $-121M | $-84M | · | · | |
| Dividends Paid | $85M | $72M | $59M | $34M | $33M | $423M | $25M | $20M | |
| Financing Cash Flow | $-376M | $-290M | $-359M | $243M | $983M | $-137M | $-77M | $-59M | |
| Net Change in Cash | $59M | $-4M | $-3M | $-258M | $207M | $905.0K | $40M | $-53M | |
| Taxes Paid | $52M | · | · | · | · | · | · | · | |
| Free Cash Flow | $520M | $421M | $392M | $256M | $270M | $243M | · | · | |
| Levered FCF | · | · | · | $224M | $257M | $237M | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 81.5% | 81.0% | 78.3% | 78.4% | 77.6% | · | · | · | |
| Operating Margin | 24.1% | 22.3% | 18.8% | 19.0% | 9.8% | · | · | · | |
| Net Margin | 18.5% | 17.3% | 26.6% | 15.9% | 9.7% | · | · | · | |
| Pretax Margin | 23.4% | 21.7% | 14.9% | 18.0% | 9.7% | · | · | · | |
| EBITDA Margin | 24.1% | 22.3% | 18.8% | 25.5% | 15.3% | · | · | · | |
| ROA | 8.0% | 7.0% | 10.1% | 6.0% | 4.3% | 11.9% | · | · | |
| ROE | 24.9% | 23.2% | 41.5% | 32.0% | 23.6% | 72.5% | · | · | |
| ROIC | 11.8% | 10.0% | 17.0% | 7.9% | 5.3% | 19.7% | · | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.6 | 0.5 | 0.6 | 0.7 | 1.0 | 0.7 | · | · | |
| Quick Ratio | 0.1 | 0.1 | 0.1 | 0.1 | 0.6 | 0.3 | · | · | |
| Debt / Equity | 1.1 | 1.3 | 1.7 | 3.1 | 3.5 | 0.7 | · | · | |
| LT Debt / Equity | 1.1 | 1.3 | 1.7 | 3.1 | 3.5 | 0.7 | · | · | |
| Interest Coverage | · | · | · | 6.0 | 7.4 | 19.0 | · | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.4 | 0.4 | 0.4 | 0.5 | · | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $3.93 | $3.45 | $2.98 | $1.98 | $1.45 | $1.26 | · | · | |
| Revenue / Share | $4.51 | $4.05 | $3.69 | $3.31 | $3.07 | · | · | · | |
| Cash Flow / Share | $1.62 | $1.30 | $1.25 | $0.83 | $0.92 | $0.86 | · | · | |
| Cash / Share | $0.41 | $0.21 | $0.23 | $0.25 | $1.17 | $0.45 | · | · | |
| Dividend / Share | $0.28 | $0.24 | $0.20 | $0.12 | $0.12 | $1.62 | $0.10 | $0.08 | |
| EPS (TTM) | $0.85 | $0.72 | $1.00 | $0.55 | $0.30 | $0.42 | · | · |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 11.0% | 10.2% | 11.8% | 13.9% | 20.4% | · | · | · | |
| Revenue CAGR 3Y | 11.0% | 11.9% | 15.3% | · | · | · | · | · | |
| Revenue CAGR 5Y | 13.4% | · | · | · | · | · | · | · | |
| EPS YoY | 18.1% | -28.0% | 81.8% | 83.3% | -28.6% | · | · | · | |
| EPS CAGR 3Y | 15.6% | 33.9% | 33.5% | · | · | · | · | · | |
| EPS CAGR 5Y | 15.1% | · | · | · | · | · | · | · | |
| Net Income YoY | 18.4% | -28.1% | 87.0% | 87.5% | -26.3% | · | · | · | |
| Net Income CAGR 3Y | 16.7% | 36.1% | 37.2% | · | · | · | · | · | |
| Net Income CAGR 5Y | 17.0% | · | · | · | · | · | · | · | |
| Dividends Paid CAGR 5Y | -27.5% | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.50B | $1.35B | $1.23B | $1.10B | $965M | $802M | · | · | |
| Net Income TTM | $278M | $235M | $327M | $175M | $93M | $127M | · | · | |
| Market Cap | $11.54B | $14.10B | $15.46B | $10.68B | $13.65B | $11.02B | · | · | |
| Enterprise Value | $12.67B | $15.43B | $16.92B | $12.39B | $14.76B | $11.15B | · | · | |
| P/E | 44.9 | 64.9 | 52.2 | 67.2 | 161.1 | 96.5 | · | · | |
| P/S | 7.7 | 10.4 | 12.6 | 9.7 | 14.1 | 13.8 | · | · | |
| P/B | 9.7 | 13.5 | 17.5 | 18.6 | 33.4 | 32.3 | · | · | |
| P / Cash Flow | 21.4 | 32.4 | 37.1 | 38.9 | 47.4 | 42.7 | · | · | |
| P / FCF | 22.2 | 33.5 | 39.5 | 41.8 | 50.5 | 45.4 | · | · | |
| EV / EBITDA | 34.9 | 51.1 | 73.4 | 44.2 | 100.2 | 59.9 | · | · | |
| EV / FCF | 24.3 | 36.6 | 43.2 | 48.4 | 54.6 | 45.9 | · | · | |
| EV / Revenue | 8.4 | 11.4 | 13.8 | 11.3 | 15.3 | 13.9 | · | · | |
| Dividend Yield | 0.74% | 0.51% | 0.38% | 0.32% | 0.24% | 3.8% | · | · | |
| Earnings Yield | 2.2% | 1.5% | 1.9% | 1.5% | 0.62% | 1.0% | · | · | |
| Payout Ratio | 30.6% | 30.7% | 18.0% | 19.7% | 35.8% | 334.1% | · | · | |
| Annual Payout | $85M | $72M | $59M | $34M | $33M | $423M | · | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $411M | $424M | $392M | $376M | $364M | $371M | $350M | $335M | $330M | $338M | $311M | $307M | $297M | $314M | $287M | $268M | |
| Cost of Revenue | $74M | $74M | $71M | $72M | $69M | $66M | $68M | $65M | $63M | $62M | $68M | $65M | $66M | $67M | $62M | $59M | |
| Gross Profit | $337M | $350M | $321M | $303M | $295M | $305M | $282M | $270M | $267M | $276M | $243M | $242M | $230M | $247M | $225M | $209M | |
| R&D Expense | $82M | $83M | $81M | $79M | $75M | $72M | $77M | $70M | $66M | $68M | $71M | $65M | $70M | $68M | $68M | $64M | |
| SG&A Expense | $65M | $59M | $66M | $54M | $50M | $47M | $58M | $51M | $55M | $46M | $52M | $43M | $39M | $47M | $46M | $38M | |
| Operating Expenses | $248M | $224M | $242M | $219M | $211M | $190M | $220M | $202M | $187M | $184M | $205M | $168M | $177M | $181M | $184M | $154M | |
| Operating Income | $89M | $126M | $79M | $84M | $84M | $115M | $61M | $69M | $80M | $92M | $38M | $74M | $53M | $66M | $41M | $56M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $8M | |
| Interest Income | $457.0K | $489.0K | $1M | $845.0K | $337.0K | $600.0K | $610.0K | $436.0K | $901.0K | $783.0K | $298.0K | $501.0K | $510.0K | $229.0K | $148.0K | $109.0K | |
| Other Non-op | $16M | $497.0K | $-243.0K | $2M | $-2M | $449.0K | $9M | $-5M | $2M | $7M | $-14M | $6M | $965.0K | $289.0K | $10M | $932.0K | |
| Pretax Income | $95M | $119M | $76M | $84M | $79M | $112M | $64M | $59M | $77M | $93M | $14M | $70M | $45M | $55M | $39M | $47M | |
| Income Tax | $17M | $23M | $17M | $26M | $9M | $20M | $15M | $17M | $5M | $22M | $-165M | $17M | $-4M | $9M | $13M | $10M | |
| Net Income | $79M | $95M | $59M | $57M | $70M | $91M | $50M | $42M | $72M | $70M | $180M | $53M | $49M | $45M | $26M | $37M | |
| EPS (Basic) | $0.25 | $0.31 | $0.19 | $0.18 | $0.22 | $0.29 | $0.17 | $0.13 | $0.23 | $0.22 | $0.57 | $0.17 | $0.16 | $0.15 | $0.09 | $0.12 | |
| EPS (Diluted) | $0.25 | $0.30 | $0.17 | $0.18 | $0.22 | $0.28 | $0.15 | $0.13 | $0.22 | $0.22 | $0.55 | $0.16 | $0.15 | $0.14 | $0.08 | $0.12 | |
| Shares (Basic) | 311,784,740 | 312,593,358 | · | 314,626,191 | 314,622,491 | 315,130,071 | · | 315,207,216 | 314,980,580 | 314,295,102 | · | 313,069,132 | 311,914,602 | 310,758,802 | · | 310,116,104 | |
| Shares (Diluted) | 318,957,692 | 321,836,470 | · | 333,277,478 | 332,824,020 | 333,441,006 | · | 333,789,636 | 333,780,984 | 333,623,518 | · | 332,825,186 | 332,352,725 | 331,251,884 | · | 325,170,383 | |
| EBITDA | $89M | $142M | · | $84M | $84M | $131M | · | $69M | $80M | $108M | · | $74M | $53M | $84M | · | $56M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $147M | $105M | $123M | $165M | $90M | $84M | $64M | $72M | $51M | $142M | · | $67M | $83M | $94M | · | $73M | |
| Prepaid Expense | $57M | $60M | $53M | $58M | $50M | $50M | $51M | · | · | · | · | · | · | · | · | · | |
| Current Assets | $588M | $518M | $539M | $527M | $440M | $446M | $442M | $404M | $387M | $474M | · | $374M | $391M | $432M | · | $326M | |
| PP&E (Net) | $42M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| PP&E (Gross) | $125M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | $82M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Goodwill | $2.47B | $2.47B | $2.48B | $2.41B | $2.42B | $2.38B | $2.37B | $2.39B | $2.27B | $2.26B | $2.27B | $2.25B | $2.25B | $2.25B | $2.24B | $2.19B | |
| Intangibles | $169M | $181M | $193M | $181M | $193M | $203M | $214M | $226M | $226M | $236M | · | $260M | $272M | $284M | · | $301M | |
| Other Non-current Assets | $77M | $77M | $76M | $76M | $81M | $83M | $86M | $73M | $78M | $76M | · | $78M | $74M | $68M | · | $74M | |
| Total Assets | $3.58B | $3.52B | $3.56B | $3.46B | $3.42B | $3.40B | $3.40B | $3.40B | $3.26B | $3.35B | · | $3.13B | $3.16B | $3.19B | · | $3.04B | |
| Accounts Payable | $23M | $21M | $27M | $18M | $24M | $24M | $16M | $31M | $24M | $24M | · | $26M | $37M | $29M | · | $17M | |
| Accrued Liabilities | $182M | $171M | $173M | $158M | $154M | $164M | $170M | $495M | $500M | $540M | · | $403M | $399M | $421M | · | $337M | |
| Current Liabilities | $988M | $1.01B | $960M | $860M | $858M | $906M | $814M | $782M | $786M | $838M | · | $681M | $709M | $720M | · | $569M | |
| Capital Leases | $38M | $37M | $22M | $24M | $25M | $26M | $27M | $28M | $27M | $29M | · | $31M | $32M | $27M | · | $29M | |
| Deferred Tax | $5M | $5M | $4M | $9M | $9M | $8M | $9M | $12M | $12M | $10M | · | $44M | $38M | $47M | · | $44M | |
| Other Non-current Liabilities | $10M | $10M | $5M | $5M | $6M | $5M | $4M | $4M | $3M | $3M | · | $4M | $5M | $7M | · | $8M | |
| Total Liabilities | $2.38B | $2.30B | $2.37B | $2.27B | $2.26B | $2.31B | $2.36B | $2.36B | $2.27B | $2.42B | · | $2.44B | $2.52B | $2.57B | · | $2.52B | |
| Long-term Debt | $1.22B | $1.12B | $1.25B | $1.25B | $1.25B | $1.24B | $1.39B | $1.42B | $1.33B | $1.44B | · | $1.59B | $1.64B | $1.68B | · | $1.78B | |
| Total Debt | $1.22B | $1.12B | · | $1.25B | $1.25B | $1.24B | · | $1.42B | $1.33B | $1.44B | · | $1.59B | $1.64B | $1.68B | · | $1.78B | |
| Common Stock | · | · | · | · | · | · | · | · | · | · | · | $3M | $3M | $3M | · | $3M | |
| Paid-in Capital | $1.35B | $1.33B | $1.30B | $1.28B | $1.26B | $1.24B | $1.22B | $1.20B | $1.18B | $1.15B | · | $1.11B | $1.09B | $1.06B | · | $1.01B | |
| Retained Earnings | $-63M | $-22M | $-40M | $-14M | $-31M | $-48M | $-76M | $-88M | $-103M | $-133M | · | $-325M | $-357M | $-361M | · | $-386M | |
| AOCI | $-86M | $-81M | $-75M | $-77M | $-69M | $-98M | $-104M | $-83M | $-93M | $-93M | · | $-95M | $-88M | $-89M | · | $-102M | |
| Stockholders' Equity | $1.20B | $1.23B | $1.19B | $1.20B | $1.16B | $1.10B | $1.04B | $1.03B | $985M | $933M | · | $692M | $644M | $614M | · | $520M | |
| Liabilities + Equity | $3.58B | $3.52B | $3.56B | $3.46B | $3.42B | $3.40B | $3.40B | $3.40B | $3.26B | $3.35B | · | $3.13B | $3.16B | $3.19B | · | $3.04B | |
| Shares Outstanding | 301,777,599 | 303,604,683 | 302,355,097 | 303,457,906 | 303,438,072 | 302,909,806 | 301,977,330 | 302,042,802 | 299,747,133 | 298,014,682 | 296,265,837 | 295,244,206 | 294,712,983 | 291,501,271 | 289,014,487 | 288,417,765 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $16M | $16M | · | · | $16M | $16M | · | $16M | $16M | $16M | · | $17M | $17M | $18M | · | $18M | |
| Stock-based Comp | $23M | $20M | $18M | $18M | $20M | $17M | $17M | $16M | $22M | $20M | $17M | $19M | $18M | $19M | $24M | $19M | |
| Deferred Tax | $10M | $8M | $994.0K | $26M | $-1M | $-1M | $6M | $-2M | $3M | $5M | $-184M | $14M | $-25M | $-4M | $9M | $3M | |
| Amort. of Intangibles | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $9M | $9M | $10M | $10M | $11M | $10M | $10M | |
| Other Non-cash | · | $53M | · | · | · | $96M | · | · | · | $93M | · | · | · | $97M | · | · | |
| Operating Cash Flow | $72M | $193M | $142M | $116M | $61M | $219M | $82M | $86M | $63M | $205M | $87M | $73M | $81M | $176M | $36M | $69M | |
| CapEx | $8M | $6M | $5M | $6M | $4M | $3M | $6M | $2M | $3M | $4M | $6M | $8M | $7M | $4M | $6M | $6M | |
| Investing Cash Flow | $-8M | $-6M | $-99M | $-7M | $-4M | $-3M | $-8M | $-125M | $-7M | $-4M | $-9M | $-21M | $-9M | $-21M | $-30M | $-16M | |
| Stock Repurchased | $85M | $40M | $60M | $15M | $20M | $30M | $19M | $8M | $23M | $15M | $0 | $0 | $0 | $0 | $0 | $15M | |
| Net Stock Activity | · | $-40M | · | · | · | $-30M | · | · | · | $-15M | · | · | · | · | · | · | |
| Dividends Paid | $21M | $21M | $21M | $21M | $21M | $21M | $18M | $18M | $18M | $18M | $15M | $15M | $15M | $15M | $9M | $9M | |
| Financing Cash Flow | $-20M | $-204M | $-85M | $-34M | $-57M | $-201M | $-77M | $58M | $-145M | $-126M | $-79M | $-64M | $-82M | $-134M | $-12M | $-71M | |
| Net Change in Cash | $42M | $-18M | $-42M | $76M | $6M | $20M | $-8M | $21M | $-90M | $73M | $1M | $-16M | $-11M | $22M | $-1M | $-21M | |
| Free Cash Flow | · | $188M | · | · | · | $216M | · | · | · | $201M | · | · | · | $172M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 82.0% | 82.6% | · | 80.8% | 81.1% | 82.3% | · | 80.7% | 80.9% | 81.7% | · | 78.9% | 77.6% | 78.6% | · | 77.9% | |
| Operating Margin | 21.6% | 29.8% | · | 22.5% | 23.2% | 31.1% | · | 20.5% | 24.3% | 27.2% | · | 24.0% | 18.0% | 20.9% | · | 20.7% | |
| Net Margin | 19.1% | 22.5% | · | 15.3% | 19.4% | 24.7% | · | 12.6% | 21.8% | 20.8% | · | 17.3% | 16.4% | 14.5% | · | 13.8% | |
| Pretax Margin | 23.2% | 28.0% | · | 22.3% | 21.8% | 30.2% | · | 17.6% | 23.4% | 27.4% | · | 22.7% | 15.1% | 17.5% | · | 17.6% | |
| EBITDA Margin | 21.6% | 33.6% | · | 22.5% | 23.2% | 35.3% | · | 20.5% | 24.3% | 32.1% | · | 24.0% | 18.0% | 26.7% | · | 20.7% | |
| ROA | 2.2% | 2.8% | · | 1.7% | 2.1% | 2.7% | · | 1.3% | 2.2% | 2.1% | · | 1.7% | 1.6% | 1.4% | · | 1.4% | |
| ROE | 6.7% | 8.2% | · | 5.1% | 6.6% | 9.0% | · | 4.9% | 8.8% | 9.1% | · | 8.8% | 8.5% | 8.5% | · | 8.2% | |
| ROIC | 3.0% | 4.3% | · | 2.4% | 3.1% | 4.0% | · | 2.0% | 3.2% | 2.9% | · | 2.5% | 2.5% | 2.4% | · | 1.9% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.6 | 0.5 | · | 0.6 | 0.5 | 0.5 | · | 0.5 | 0.5 | 0.6 | · | 0.5 | 0.6 | 0.6 | · | 0.6 | |
| Quick Ratio | 0.1 | 0.1 | · | 0.2 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.2 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Debt / Equity | 1.0 | 0.9 | · | 1.0 | 1.1 | 1.1 | · | 1.4 | 1.4 | 1.5 | · | 2.3 | 2.5 | 2.7 | · | 3.4 | |
| LT Debt / Equity | 1.0 | 0.9 | · | 1.0 | 1.1 | 1.1 | · | 1.4 | 1.4 | 1.5 | · | 2.3 | 2.5 | 2.7 | · | 3.4 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | 6.5 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $3.98 | $4.04 | · | $3.94 | $3.83 | $3.62 | · | $3.42 | $3.28 | $3.13 | · | $2.34 | $2.18 | $2.11 | · | $1.80 | |
| Revenue / Share | $1.29 | $1.32 | · | $1.13 | $1.09 | $1.11 | · | $1.00 | $0.99 | $1.01 | · | $0.92 | $0.89 | $0.95 | · | $0.83 | |
| Cash Flow / Share | · | $0.60 | · | · | · | $0.66 | · | · | · | $0.61 | · | · | · | $0.53 | · | · | |
| Cash / Share | $0.49 | $0.35 | · | $0.55 | $0.30 | $0.28 | · | $0.24 | $0.17 | $0.48 | · | $0.23 | $0.28 | $0.32 | · | $0.25 | |
| Dividend / Share | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.06 | $0.06 | $0.06 | $0.06 | $0.05 | $0.05 | $0.05 | $0.05 | $0.03 | $0.03 | |
| EPS (TTM) | $0.90 | $0.87 | · | $0.83 | $0.78 | $0.78 | · | $1.12 | $1.15 | $1.08 | · | $0.53 | $0.49 | $0.51 | · | $0.61 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.60B | $1.56B | · | $1.46B | $1.42B | $1.39B | · | $1.31B | $1.29B | $1.25B | · | $1.20B | $1.17B | $1.14B | · | $1.08B | |
| Net Income TTM | $290M | $282M | · | $269M | $254M | $256M | · | $364M | $375M | $352M | · | $173M | $157M | $164M | · | $188M | |
| Market Cap | $9.02B | $10.66B | · | $15.62B | $16.38B | $11.92B | · | $15.35B | $14.80B | $15.56B | · | $14.81B | $15.98B | $12.53B | · | $8.82B | |
| Enterprise Value | $10.09B | $11.67B | · | $16.70B | $17.53B | $13.08B | · | $16.69B | $16.08B | $16.86B | · | $16.33B | $17.54B | $14.11B | · | $10.53B | |
| P/E | 33.2 | 40.4 | · | 62.0 | 69.2 | 50.4 | · | 45.4 | 42.9 | 48.4 | · | 94.6 | 110.7 | 84.3 | · | 50.1 | |
| P/S | 5.6 | 6.9 | · | 10.7 | 11.5 | 8.6 | · | 11.7 | 11.5 | 12.4 | · | 12.3 | 13.7 | 11.0 | · | 8.2 | |
| P/B | 7.5 | 8.7 | · | 13.1 | 14.1 | 10.9 | · | 14.8 | 15.0 | 16.7 | · | 21.4 | 24.8 | 20.4 | · | 17.0 | |
| P / Cash Flow | · | 55.1 | · | · | · | 54.3 | · | · | · | 75.9 | · | · | · | 71.1 | · | · | |
| EV / Revenue | 6.3 | 7.5 | · | 11.4 | 12.4 | 9.4 | · | 12.7 | 12.5 | 13.5 | · | 13.6 | 15.0 | 12.4 | · | 9.8 | |
| Dividend Yield | 0.94% | 0.80% | · | 0.52% | 0.48% | 0.63% | · | 0.45% | 0.44% | 0.40% | · | 0.36% | 0.29% | 0.32% | · | 0.39% | |
| Earnings Yield | 3.0% | 2.5% | · | 1.6% | 1.5% | 2.0% | · | 2.2% | 2.3% | 2.1% | · | 1.1% | 0.90% | 1.2% | · | 2.0% | |
| Payout Ratio | · | 22.2% | · | · | · | 23.2% | · | · | · | 25.4% | · | · | · | 31.9% | · | · | |
| Annual Payout | $85M | $85M | · | $82M | $79M | $75M | · | $69M | $65M | $62M | · | $53M | $47M | $40M | · | $34M |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $1.50B | $1.35B | $1.23B | $1.10B | $965M |
| Gross Margin % | 81.5% | 81.0% | 78.3% | 78.4% | 77.6% |
| Operating Margin % | 24.1% | 22.3% | 18.8% | 19.0% | 9.8% |
| Net Income | $278M | $235M | $327M | $175M | $93M |
| Diluted EPS | $0.85 | $0.72 | $1.00 | $0.55 | $0.30 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 1.1 | 1.3 | 1.7 | 3.1 | 3.5 |
| Current Ratio | 0.6 | 0.5 | 0.6 | 0.7 | 1.0 |
| Quick Ratio | 0.1 | 0.1 | 0.1 | 0.1 | 0.6 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $520M | $421M | $392M | $256M | $270M |
Institutional owners (13F) 428 filers · $5.1B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
428
Value held
$5.1B
New positions
58
Exited positions
99
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 58 (-28 vs prior Q) | 99 (-11 vs prior Q) | 136 (-23 vs prior Q) | 161 (-4 vs prior Q) | +5.2M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $627,673,688 | 16,446,317 | 12.40% | Shares |
| BlackRock, Inc. | $480,269,101 | 16,067,886 | 9.49% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $284,008,653 | 9,501,795 | 5.61% | Shares |
| NORGES BANK | $283,363,567 | 9,480,213 | 5.60% | Shares |
| Swedbank AB | $269,010,000 | 9,000,000 | 5.31% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $212,703,816 | 7,116,220 | 4.20% | Shares |
| MORGAN STANLEY | $180,147,963 | 6,027,027 | 3.56% | Shares |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | $177,621,534 | 5,942,507 | 3.51% | Shares |
| STATE STREET CORP | $150,544,960 | 5,036,633 | 2.97% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $147,570,397 | 4,937,116 | 2.92% | Shares |
| Pictet Asset Management Holding SA | $130,543,135 | 4,367,486 | 2.58% | Shares |
| MILLENNIUM MANAGEMENT LLC | $105,148,686 | 3,517,855 | 2.08% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $101,886,044 | 3,408,034 | 2.01% | Shares |
| Bank of New York Mellon Corp | $78,737,970 | 2,634,258 | 1.56% | Shares |
| Invesco Ltd. | $78,071,962 | 2,611,976 | 1.54% | Shares |
| AXA Investment Managers S.A. | $75,160,491 | 1,459,994 | 1.48% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $59,840,642 | 2,002,104 | 1.18% | Shares |
| Allianz Asset Management GmbH | $54,323,461 | 1,817,446 | 1.07% | Shares |
| UBS Group AG | $54,198,521 | 1,813,266 | 1.07% | Shares |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC | $53,749,744 | 1,798,251 | 1.06% | Shares |
| GOLDMAN SACHS GROUP INC | $52,852,429 | 1,768,231 | 1.04% | Shares |
| MACKENZIE FINANCIAL CORP | $50,774,980 | 1,698,728 | 1.00% | Shares |
| Impax Asset Management Group plc | $49,539,596 | 1,657,397 | 0.98% | Shares |
| NORTHERN TRUST CORP | $43,699,659 | 1,462,016 | 0.86% | Shares |
| MIROVA | $41,039,090 | 1,373,004 | 0.81% | Shares |
| Madison Asset Management, LLC | $40,806,732 | 1,365,230 | 0.81% | Shares |
| Woodline Partners LP | $36,929,484 | 1,235,513 | 0.73% | Shares |
| CITIGROUP INC | $35,684,475 | 1,193,860 | 0.71% | Shares |
| JPMORGAN CHASE & CO | $33,809,157 | 1,132,466 | 0.67% | Shares |
| TimesSquare Capital Management, LLC | $32,590,622 | 927,979 | 0.64% | Shares |
| WELLS FARGO & COMPANY/MN | $32,206,181 | 1,077,490 | 0.64% | Shares |
| MAIRS & POWER INC | $28,996,707 | 970,114 | 0.57% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $28,984,632 | 969,710 | 0.57% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $28,673,597 | 959,304 | 0.57% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $28,137,161 | 941,357 | 0.56% | Shares |
| Thematics Asset Management | $27,360,745 | 531,483 | 0.54% | Shares |
| BANK OF AMERICA CORP /DE/ | $27,207,050 | 910,239 | 0.54% | Shares |
| Creative Planning | $27,199,715 | 909,994 | 0.54% | Shares |
| Point72 Asset Management, L.P. | $24,772,772 | 828,798 | 0.49% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $23,866,676 | 795,556 | 0.47% | Shares |
| Sone Capital Management, LLC | $23,509,621 | 786,538 | 0.46% | Shares |
| Legal & General Group Plc | $22,287,778 | 745,660 | 0.44% | Shares |
| Freestone Grove Partners LP | $20,552,215 | 687,595 | 0.41% | Shares |
| Gotham Asset Management, LLC | $20,332,403 | 680,241 | 0.40% | Shares |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $18,027,555 | 603,130 | 0.36% | Shares |
| ROYAL BANK OF CANADA | $17,670,000 | 591,238 | 0.35% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $16,599,864 | 555,365 | 0.33% | Shares |
| Copeland Capital Management, LLC | $16,326,544 | 546,221 | 0.32% | Shares |
| NEEDHAM INVESTMENT MANAGEMENT LLC | $16,209,348 | 542,300 | 0.32% | Shares |
| RAYMOND JAMES FINANCIAL INC | $16,071,614 | 537,692 | 0.32% | Shares |
Activists & 5%+ owners 1 position
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Bentley Systems, Incorporated | Aug. 26, 2005 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 20 insiders · 12 officers · 8 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Nicholas Cumins | Chief Executive Officer | Sept. 29, 2026 A | 533,221 | 0 | 0 | $0 |
| Werner Andre | Chief Financial Officer | Sept. 29, 2026 A | 377,843 | 0 | 0 | $0 |
| Gregory S Bentley | Executive Chair & President | Sept. 29, 2026 A | 7,680,362 | 0 | 1 | $-4,001 |
| James K Lee | Chief Operating Officer | Sept. 29, 2026 A | 221,712 | 0 | 0 | $0 |
| Andrew Rahden | Chief Revenue Officer | Sept. 29, 2026 A | 88,319 | 0 | 0 | $0 |
| Julien Moutte | Chief Technology Officer | Sept. 29, 2026 A | 90,862 | 0 | 0 | $0 |
| Thomas F Trimback | Chief Accounting Officer | Sept. 29, 2026 A | 19,366 | 0 | 1 | $-24,091 |
| David R. Shaman | Chief Legal Officer | Sept. 29, 2026 A | 622,995 | 0 | 0 | $0 |
| Brock Ballard | Chief Revenue Officer | June 11, 2026 A | 94,037 | 0 | 0 | $0 |
| Michael M Campbell | Chief Product Officer | Dec. 12, 2024 A | 70,186 | 0 | 0 | $0 |
| David J. Hollister | Chief Investment Officer | March 7, 2023 A | 1,964,392 | 0 | 0 | $0 |
| Gus Bergsma | Mr. Bergsma is the Company's former Chief Revenue Officer. | Jan. 24, 2023 F | 874,899 | 0 | 0 | $0 |
| Kirk B. Griswold | Director | Sept. 29, 2026 A | 468,202 | 0 | 0 | $0 |
| Raymond B. Bentley | Director | Sept. 29, 2026 A | 14,816,404 | 0 | 0 | $0 |
| Barry J. Bentley | Director | Sept. 29, 2026 A | 11,837,896 | 0 | 0 | $0 |
| Keith A. Bentley | Director | Sept. 29, 2026 A | 3,845,254 | 0 | 0 | $0 |
| Brian F. Hughes | Director | May 21, 2026 A | 40,500 | 0 | 0 | $0 |
| Janet Brutschea Haugen | Director | May 21, 2026 A | 35,198 | 0 | 0 | $0 |
| Richard P. Bentley | 10% owner | June 15, 2021 S | 459,278 | 0 | 0 | $0 |
| Siemens International Holding B.V. | 10% owner | Nov. 11, 2020 J | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 74 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| BULD · Pacer Funds Trust | 2.58% | 10,808 NS | July 31, 2026 | N-PORT |
| PHO · Invesco Exchange-Traded Fund Trust | 2.02% | 1,166,883 SH | Oct. 2, 2026 | Daily |
| ABOT · Abacus FCF ETF Trust | 1.27% | 1,444 NS | July 31, 2026 | N-PORT |
| MCOW · Pacer Funds Trust | 1.02% | 305 NS | July 31, 2026 | N-PORT |
| XMHQ · Invesco Exchange-Traded Fund Trust | 0.66% | 1,082,183 SH | Oct. 2, 2026 | Daily |
| COWG · Pacer Funds Trust | 0.53% | 328,084 NS | July 31, 2026 | N-PORT |
| GGME · Invesco Exchange-Traded Fund Trust | 0.39% | 5,319 SH | Oct. 2, 2026 | Daily |
| QDEF · FlexShares Trust | 0.29% | 45,018 NS | July 31, 2026 | N-PORT |
| IQSM · New York Life Investments ETF Trust | 0.22% | 20,474 NS | July 31, 2026 | N-PORT |
| JQUA · J.P. Morgan Exchange-Traded Fund Tr… | 0.18% | 420,736 NS | July 31, 2026 | N-PORT |
| QVMM · Invesco Exchange-Traded Fund Trust … | 0.18% | 22,788 SH | Oct. 2, 2026 | Daily |
| IGV · iShares Trust | 0.16% | 681,591 SH | Sept. 11, 2026 | Daily |
| BKMC · BNY Mellon ETF Trust | 0.15% | 27,892 NS | July 31, 2026 | N-PORT |
| IVOG · VANGUARD ADMIRAL FUNDS | 0.15% | 92,663 SH | Aug. 19, 2026 | Daily |
| PTMC · Pacer Funds Trust | 0.15% | 16,512 NS | July 31, 2026 | N-PORT |
| TDVI · First Trust Exchange-Traded Fund IV | 0.14% | 20,675 NS | July 31, 2026 | N-PORT |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 0.13% | 30,685 NS | July 31, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.13% | 2,138,104 SH | Aug. 19, 2026 | Daily |
| IVOO · VANGUARD ADMIRAL FUNDS | 0.12% | 241,480 SH | Aug. 19, 2026 | Daily |
| ESSC · Strategy Shares | 0.12% | 1,206 NS | July 31, 2026 | N-PORT |
| MIDU · Direxion Shares ETF Trust | 0.11% | 2,189 NS | July 31, 2026 | N-PORT |
| ISCG · iShares Trust | 0.11% | 35,013 SH | Sept. 11, 2026 | Daily |
| ESML · iShares Trust | 0.10% | 94,191 SH | Sept. 11, 2026 | Daily |
| IGPT · Invesco Exchange-Traded Fund Trust | 0.09% | 41,709 SH | Oct. 2, 2026 | Daily |
| IVOV · VANGUARD ADMIRAL FUNDS | 0.09% | 47,483 SH | Aug. 19, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.09% | 71,095 SH | Oct. 2, 2026 | Daily |
| HDUS · Lattice Strategies Trust | 0.09% | 5,019 NS | July 31, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.08% | 48,259 NS | July 31, 2026 | N-PORT |
| SMMD · iShares Trust | 0.07% | 87,660 SH | Sept. 11, 2026 | Daily |
| RWK · Invesco Exchange-Traded Fund Trust … | 0.07% | 26,334 SH | Oct. 2, 2026 | Daily |
| FTEC · FIDELITY COVINGTON TRUST | 0.07% | 375,472 NS | July 31, 2026 | N-PORT |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.07% | 16,311 SH | Oct. 2, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.07% | 281,401 NS | July 31, 2026 | N-PORT |
| VB · VANGUARD INDEX FUNDS | 0.06% | 3,693,573 SH | Aug. 19, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.05% | 1,711,723 SH | Aug. 19, 2026 | Daily |
| VGT · VANGUARD WORLD FUND | 0.05% | 3,117,855 SH | Aug. 19, 2026 | Daily |
| RILA · Spinnaker ETF Series | 0.05% | 574 NS | July 31, 2026 | N-PORT |
| LRND · New York Life Investments ETF Trust | 0.05% | 5,248 NS | July 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.05% | 9,889 SH | Sept. 11, 2026 | Daily |
| IWS · iShares Trust | 0.04% | 193,443 SH | Sept. 11, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.04% | 6,066 NS | July 31, 2026 | N-PORT |
| TECB · iShares Trust | 0.04% | 6,050 SH | Sept. 11, 2026 | Daily |
| IWR · iShares Trust | 0.04% | 670,945 SH | Sept. 11, 2026 | Daily |
| IWP · iShares Trust | 0.03% | 185,535 SH | Sept. 11, 2026 | Daily |
| DFSU · Dimensional ETF Trust | 0.03% | 17,776 NS | July 31, 2026 | N-PORT |
| IYW · iShares Trust | 0.03% | 202,001 SH | Sept. 11, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.02% | 293,127 NS | July 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.02% | 20,065 NS | July 31, 2026 | N-PORT |
| IGM · iShares Trust | 0.02% | 70,062 SH | Sept. 11, 2026 | Daily |
| IWD · iShares Trust | 0.01% | 288,976 SH | Sept. 11, 2026 | Daily |
| DFAU · Dimensional ETF Trust | 0.01% | 36,337 NS | July 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.01% | 5,107,582 SH | Aug. 19, 2026 | Daily |
| VONE · VANGUARD SCOTTSDALE FUNDS | 0.01% | 26,595 SH | Aug. 19, 2026 | Daily |
| VONV · VANGUARD SCOTTSDALE FUNDS | 0.01% | 78,560 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.01% | 13,500 SH | Aug. 19, 2026 | Daily |
| DFUS · Dimensional ETF Trust | 0.01% | 49,749 NS | July 31, 2026 | N-PORT |
| IUSG · iShares Trust | 0.01% | 80,000 SH | Sept. 11, 2026 | Daily |
| IWB · iShares Trust | 0.01% | 109,076 SH | Sept. 11, 2026 | Daily |
| IYY · iShares Trust | 0.01% | 6,577 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.01% | 43,171 SH | Sept. 11, 2026 | Daily |
| DGRO · iShares Trust | 0.01% | 91,044 SH | Sept. 11, 2026 | Daily |
| ITOT · iShares Trust | 0.01% | 194,443 SH | Sept. 11, 2026 | Daily |
| IUSV · iShares Trust | 0.01% | 49,459 SH | Sept. 11, 2026 | Daily |
| IWF · iShares Trust | 0.00% | 121,299 SH | Sept. 11, 2026 | Daily |
| TILT · FlexShares Trust | 0.00% | 948 NS | July 31, 2026 | N-PORT |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.00% | 124,927 SH | Aug. 19, 2026 | Daily |
| VONG · VANGUARD SCOTTSDALE FUNDS | 0.00% | 51,982 SH | Aug. 19, 2026 | Daily |
| IJH · iShares Trust | · | 5,230,271 SH | Sept. 11, 2026 | Daily |
| IJK · iShares Trust | · | 543,767 SH | Sept. 11, 2026 | Daily |
| IJJ · iShares Trust | · | 282,476 SH | Aug. 21, 2026 | Daily |
| XJH · iShares Trust | · | 20,366 SH | Sept. 8, 2026 | Daily |
| ISCB · iShares Trust | · | 4,956 SH | Sept. 11, 2026 | Daily |
| SMLF · iShares Trust | · | 81,639 SH | Sept. 11, 2026 | Daily |
| SMMV · iShares Trust | · | 27,268 SH | Aug. 19, 2026 | Daily |
BSY Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 21 analysts
BUY
Median target
$43.00
+33.4%
6 28.6%
Strong Buy
10 47.6%
Buy
5 23.8%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
15 analysts · 2026-10-02Mean target $43.93 +36.3%
← Below all targets
Current price $32.23
Low$37.00
Mean$43.93
High$59.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| BSY | $11.54B | 44.9 | 11.0% | 18.5% | 24.9% | 81.5% |
| FIG | $19.17B | -10.1 | 41.0% | -118.4% | -85.1% | 82.4% |
| HUT | $5.06B | -21.5 | 44.8% | -96.2% | -18.9% | · |
| AUR | · | · | · | · | · | · |
| HUBS | $21.09B | 466.6 | 19.2% | 1.5% | 2.2% | 83.8% |
| IDCC | $8.18B | 27.0 | -4.0% | 48.8% | 37.2% | · |
| WULF | $4.83B | -6.9 | 20.3% | -392.6% | -420.2% | 39.2% |
| PCOR | $11.04B | -108.6 | 14.8% | -7.6% | -8.1% | 79.5% |
| RIOT | $4.71B | -6.5 | 71.9% | -102.4% | -21.6% | · |
| PLTR | $425.03B | 282.1 | 56.2% | 36.3% | 26.2% | 82.4% |
Latest News Recent headlines mentioning this company
Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
RANGE
Stopped out
risk 1
reward 4.16
entry
$35.38
R:R 4.16
BOUNCE_UP
Stopped out
risk 1
reward 1.50
entry
$47.38
R:R 1.50
BOUNCE_UP
Stopped out
risk 1
reward 1.50
entry
$51.51
R:R 1.50
No open signal right now — no card is filled, and that's honest.
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Source: SEC 10-Q filed Aug 6, 2026