Bentley Systems (BSY) FY2022 results: revenue $1.1 billion, up 13.9% on the year
Bentley Systems Inc. (BSY) reported revenue of $1.1 billion for fiscal 2022, the year ended 31 December 2022, up 13.9% on the year before. Net income was $175 million, up 87.5%, and diluted earnings per share $0.55. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2023.
Revenue
$1.1 billion
+13.9% on the year
FY2018FY2022
Operating margin
19.0%
9.8% a year earlier
FY2018FY2022
Net income
$175 million
+87.5% on the year
FY2018FY2022
Diluted EPS
$0.55
+83.3% on the year
FY2018FY2022
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
274
288
258
-4.8%
Capital expenditure
18.5
17.5
16.4
+5.7%
Free cash flow
256
270
242
-5.4%
Free cash flow margin
23.3%
28.0%
30.2%
Cash from investing
-770
-1,057
-117
Cash from financing
243
983
-137
-75.3%
Depreciation and amortisation
71.5
52.8
36.1
+35.5%
Share-based compensation
75.2
49.0
32.1
+53.3%
Buybacks
28.2
0.0
0.0
Dividends paid
34.5
33.4
423
+3.3%
Dividend per share
$0.12
$0.12
$1.62
0.0%
Diluted shares, weighted
332m
315m
299m
+5.5%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
573
409
342
+40.1%
Non-controlling interest
n/a
0.0
n/a
Debt
1,781
1,436
246
+24.0%
Operating lease liabilities
27.7
35.3
31.8
-21.6%
Finance lease liabilities
n/a
0.0
0.1
Other liabilities
783
779
507
+0.6%
Total liabilities and equity
3,165
2,659
1,126
+19.0%
Goodwill
2,237
1,588
581
+40.8%
Intangible assets
292
246
45.6
+18.9%
Cash and equivalents
71.7
329
122
-78.2%
Other assets
564
496
377
+13.8%
Total assets
3,165
2,659
1,126
+19.0%
10-K for the year ended 31 December 2022, filed 28 February 2023: the filing.