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BSY (Bentley Systems) Operating Income : $325 Mil (TTM As of Mar. 2025)


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What is Bentley Systems Operating Income?

Bentley Systems's Operating Income for the three months ended in Mar. 2025 was $115 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2025 was $325 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Bentley Systems's Operating Income for the three months ended in Mar. 2025 was $115 Mil. Bentley Systems's Revenue for the three months ended in Mar. 2025 was $371 Mil. Therefore, Bentley Systems's Operating Margin % for the quarter that ended in Mar. 2025 was 31.09%.

Good Sign:

Bentley Systems Inc operating margin is expanding. Margin expansion is usually a good sign.

Bentley Systems's 5-Year average Growth Rate for Operating Margin % was 2.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Bentley Systems's annualized ROC % for the quarter that ended in Mar. 2025 was 10.09%. Bentley Systems's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2025 was 708.91%.


Bentley Systems Operating Income Historical Data

The historical data trend for Bentley Systems's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Bentley Systems Operating Income Chart

Bentley Systems Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Operating Income
Get a 7-Day Free Trial 176.28 94.59 208.61 230.54 302.15

Bentley Systems Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 91.93 80.18 68.63 61.41 115.18

Bentley Systems Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was $325 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Bentley Systems  (NAS:BSY) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Bentley Systems's annualized ROC % for the quarter that ended in Mar. 2025 is calculated as:

ROC % (Q: Mar. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2024 ) + Invested Capital (Q: Mar. 2025 ))/ count )
=460.736 * ( 1 - 18.32% )/( (3703.803 + 3755.581)/ 2 )
=376.3291648/3729.692
=10.09 %

where

Invested Capital(Q: Dec. 2024 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=3399.807 - 68.265 - ( 64.009 - max(0, 814.334 - 442.073+64.009))
=3703.803

Invested Capital(Q: Mar. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=3402.934 - 107.285 - ( 83.637 - max(0, 905.987 - 446.055+83.637))
=3755.581

Note: The Operating Income data used here is four times the quarterly (Mar. 2025) data.

2. Joel Greenblatt's definition of Return on Capital:

Bentley Systems's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2024  Q: Mar. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=464.932/( ( (66.101 + max(-424.614, 0)) + (65.067 + max(-531.825, 0)) )/ 2 )
=464.932/( ( 66.101 + 65.067 )/ 2 )
=464.932/65.584
=708.91 %

where Working Capital is:

Working Capital(Q: Dec. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(314.467 + 0 + 63.597) - (68.265 + 266.522 + 467.891)
=-424.614

Working Capital(Q: Mar. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(303.56 + 0 + 58.858) - (107.285 + 691.982 + 94.976)
=-531.825

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2025) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Bentley Systems's Operating Margin % for the quarter that ended in Mar. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2025 )/Revenue (Q: Mar. 2025 )
=115.184/370.542
=31.09 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Bentley Systems Operating Income Related Terms

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Bentley Systems Business Description

Traded in Other Exchanges
Address
685 Stockton Drive, Exton, PA, USA, 19341
Bentley Systems is a software vendor that caters to engineers, architects, constructors, and geospatial professionals by enabling design, modeling, simulation, project management, and data management of infrastructure assets. The firm delivers solutions via the cloud, desktop, and hybrid environments. While Bentley is relatively small in comparison with peers like Autodesk, it shines in core specialty areas, like bridge or rail design, as opposed to being more broad-based in its applications. Bentley's largest end market is the public works and utilities sector, which represents approximately two thirds of revenue.
Executives
Brock Ballard officer: Chief Revenue Officer C/O BENTLEY SYSTEMS, INCORPORATED, 685 STOCKTON DRIVE, EXTON PA 19341
Gregory S Bentley director, 10 percent owner, officer: Chairman, CEO & President C/O BENTLEY SYSTEMS INC, 685 STOCKTON RD, EXTON PA 19341
Keith A. Bentley director, 10 percent owner, officer: Chief Technology Officer C/O BENTLEY SYSTEMS, INCORPORATED, 685 STOCKTON DRIVE, EXTON PA 19341
Barry J. Bentley director, 10 percent owner C/O BENTLEY SYSTEMS, INCORPORATED, 685 STOCKTON DRIVE, EXTON PA 19341
Michael M Campbell officer: Chief Product Officer C/O BENTLEY SYSTEMS, INCORPORATED, 685 STOCKTON DRIVE, EXTON PA 19341
Raymond B. Bentley director, 10 percent owner, officer: Executive Vice President C/O BENTLEY SYSTEMS, INCORPORATED, 685 STOCKTON DRIVE, EXTON PA 19341
Kirk B. Griswold director 11 TROTTER WAY, COLLEGEVILLE PA 19426
Nicholas Cumins officer: Chief Product Officer C/O BENTLEY SYSTEMS, INCORPORATED, 685 STOCKTON DRIVE, EXTON PA 19341
David R. Shaman officer: Chief Legal Officer C/O BENTLEY SYSTEMS, INCORPORATED, 685 STOCKTON DRIVE, EXTON PA 19341
David J. Hollister officer: See Remarks C/O BENTLEY SYSTEMS, INCORPORATED, 685 STOCKTON DRIVE, EXTON PA 19341
Brian F. Hughes director 124 COLONIAL RIDGE DRIVE, HADDONFIELD NJ 08033
Gus Bergsma officer: Chief Revenue Officer C/O BENTLEY SYSTEMS, INCORPORATED, 685 STOCKTON DRIVE, EXTON PA 19341
Richard P. Bentley 10 percent owner C/O VIDEORAY LLC, 212 EAST HIGH STREET, POTTSTOWN PA 19464
Spt Invest Management Sarl 10 percent owner 21 RUE EDMOND REUTER, CONTERN N4 5326
Siemens International Holding B.v. 10 percent owner PRINSES BEATRIXLAAN 800, BN 'S-GRAVENHAGE P7 2595