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Bentley SystemsBSY +0.67%77 Debt-to-EBITDA is 2.05 as of Mar. 2026, which is 39% below its 10-year median of 3.35. GuruFocus rates BSY with a GF Score™ of 77/100 and a GF Value™ of $63.98 (Significantly Undervalued). The stock has 1 warning sign investors should review. Among 1,725 Software companies, Bentley Systems ranks worse than 71.77% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Bentley Systems's Debt-to-EBITDA or its related term are showing as below:
BSY'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 1.38 Med: 3.35 Max: 9.44
Current: 2.62
During the past 8 years, the highest Debt-to-EBITDA Ratio of Bentley Systems was 9.44. The lowest was 1.38. And the median was 3.35.
BSY's Debt-to-EBITDA is ranked worse than 71.77% of 1725
companies
in the Software industry
Industry Median: 1.09
vs BSY: 2.62
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Bentley Systems Debt-to-EBITDA Related Terms
Bentley Systems Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Bentley Systems's Debt-to-EBITDA 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.
BSY vs DOCU, FROG, MANH: Debt-to-EBITDA Comparison
For the Software - Application subindustry, Bentley Systems's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Bentley Systems Debt-to-EBITDA vs Software Industry
For the Software industry and Technology sector, Bentley Systems's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Bentley Systems's Debt-to-EBITDA falls into.
* 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.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Mar. 2026) EBITDA data.
Bentley Systems (BSY) has a Debt-to-EBITDA of 2.05 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Bentley Systems. This is 39% below median its historical median of 3.35. Over the past decade, Bentley Systems' Debt-to-EBITDA has ranged from 1.38 to 9.44. According to the industry distribution chart, Bentley Systems ranks #1238 out of 1725 companies in the Software industry, placing it in the top 71.8%.
Is Bentley Systems' Debt-to-EBITDA too high?
Bentley Systems' current Debt-to-EBITDA of 2.05 is 39% below median its 10-year median of 3.35. Over the past 10 years, this metric has ranged from a low of 1.38 to a high of 9.44. The Software industry median Debt-to-EBITDA is 1.09. Bentley Systems' value of 2.05 is 88.1% above this industry median. Based on the distribution chart, Bentley Systems ranks #1238 out of 1725 companies in the Software industry, which is below the industry midpoint. Overall, Bentley Systems has a GF Score™ of 77/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Bentley Systems' Debt-to-EBITDA compare to DOCU and FROG?
According to the Software industry distribution chart, Bentley Systems ranks #1238 out of 1725 companies for Debt-to-EBITDA. This places Bentley Systems in the lower half of its industry. The industry median Debt-to-EBITDA is 1.09. Bentley Systems' value of 2.05 is 88.1% above this benchmark. Historically, Bentley Systems' own Debt-to-EBITDA has ranged from 1.38 to 9.44 over the past decade. While the company's 10-year median is 3.35 vs. the industry median of 1.09, Bentley Systems has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for a Software company?
The median Debt-to-EBITDA among Software companies is 1.09, based on 1,725 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Bentley Systems's current Debt-to-EBITDA of 2.05 is 88.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Bentley Systems. For the Software industry, the median Debt-to-EBITDA is 1.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bentley Systems's current Debt-to-EBITDA is 2.05, which is 39% below median its own 10-year median of 3.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bentley Systems stock overvalued right now?
Based on GuruFocus' analysis, Bentley Systems (BSY) is currently considered Significantly Undervalued. The stock's GF Value™ is $63.98, compared to a current price of $35.44 — trading 44.6% below its estimated fair value. The current Debt-to-EBITDA is 2.05, which is 39% below median its 10-year median of 3.35 and 88.1% above the Software industry median of 1.09. Bentley Systems' overall GF Score™ is 77/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Bentley Systems (BSY), the current Debt-to-EBITDA is 2.05 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Bentley Systems (BSY) Overvalued in 2026?
Based on GuruFocus' analysis, Bentley Systems stock appears to be undervalued.
The current stock price of $35.44 is trading 44.6% below its estimated GF Value™ of $63.98.
GuruFocus considers Bentley Systems to be Significantly Undervalued.
Key valuation signals for BSY:
Debt-to-EBITDA: 2.05 (39% below median its 10-year median of 3.35)
GF Value™: $63.98 vs. price of $35.44 (44.6% below fair value)
Industry Position: 88.1% above the Software median (#1238 of 1725)
No single metric tells the full story. See the BSY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bentley Systems is a software vendor that caters to civil engineers, constructors, and geospatial professionals by enabling design, simulation, and data management of infrastructure assets such as roads and bridges. While Bentley is smaller than many other design software companies, it is a market leader across a handful of specialty areas, including public works, electricity grids, and transit.
77GF Score
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