Bentley Systems (BSY) FY2024 results: revenue $1.4 billion, up 10.1% on the year
Bentley Systems Inc. (BSY) reported revenue of $1.4 billion for fiscal 2024, the year ended 31 December 2024, up 10.1% on the year before. Net income was $235 million, down 28.2%, and diluted earnings per share $0.72. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2025.
Revenue
$1.4 billion
+10.1% on the year
FY2018FY2024
Operating margin
22.3%
18.8% a year earlier
FY2018FY2024
Net income
$235 million
-28.2% on the year
FY2018FY2024
Diluted EPS
$0.72
-28.0% on the year
FY2018FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
435
417
274
+4.5%
Capital expenditure
14.0
25.0
18.5
-43.8%
Free cash flow
421
392
256
+7.5%
Free cash flow margin
31.1%
31.9%
23.3%
Cash from investing
-143
-60.5
-770
Cash from financing
-290
-359
243
Depreciation and amortisation
n/a
n/a
71.5
Share-based compensation
74.4
73.0
75.2
+2.0%
Buybacks
64.4
0.0
28.2
Dividends paid
72.1
58.8
34.5
+22.7%
Dividend per share
$0.24
$0.20
$0.12
+20.0%
Diluted shares, weighted
334m
333m
332m
+0.4%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
1,041
883
573
+17.9%
Non-controlling interest
0.1
0.7
n/a
-81.1%
Debt
1,388
1,528
1,781
-9.2%
Operating lease liabilities
26.9
30.6
27.7
-12.2%
Other liabilities
944
877
783
+7.6%
Total liabilities and equity
3,400
3,320
3,165
+2.4%
Goodwill
2,367
2,269
2,237
+4.3%
Intangible assets
214
249
292
-14.0%
Cash and equivalents
64.0
68.4
71.7
-6.4%
Other assets
755
733
564
+2.9%
Total assets
3,400
3,320
3,165
+2.4%
10-K for the year ended 31 December 2024, filed 26 February 2025: the filing.