Bentley Systems
BSY · Application Software
$39.70
0.7%Samsara
IOT · Application Software
$44.92
2.6%The short version
- Samsara is the larger business, with $1.6B of revenue in fiscal 2026 against $1.5B for Bentley Systems.
- Samsara grew revenue faster (29.6%, against 11.0%).
- Bentley Systems kept more of each dollar of sales as operating profit (24.2% operating margin, against −3.3% operating margin).
- Bentley Systems turned more of its sales into free cash flow (34.6% FCF margin, against 12.8% FCF margin).
| Latest fiscal year | BSY · FY25 | IOT · FY26 |
|---|---|---|
| Size | ||
| Market cap | $12.7B | $26.5B |
| Revenue | $1.5B | $1.6B |
| Free cash flow | $520M | $207M |
| Net income | $278M | −$9.1M |
| Growth | ||
| Revenue growth | 11.0% | 29.6% |
| 5-year growth | 13.4% | 45.3% |
| Share count change | −0.2% | 3.1% |
| Profitability | ||
| Gross margin | 81.5% | 76.7% |
| Operating margin | 24.2% | −3.3% |
| Net margin | 18.5% | −0.6% |
| FCF margin | 34.6% | 12.8% |
| Return on capital | 12.3% | — |
| Return on equity | 24.9% | −0.7% |
| Balance sheet | ||
| Net debt | $1.1B | — |
| Net debt / EBITDA | 2.8x | — |
| Dividends and buybacks | $210M | $0.0M |
| Valuation & quality | ||
| P/E | 43.6x | — |
| Piotroski F-score | 9 | — |
FY18
BSY $692M
IOT —
FY19
BSY $735M
IOT —
FY20
BSY $802M
IOT —
FY21
BSY $965M
IOT $250M
FY22
BSY $1.1B
IOT $428M
FY23
BSY $1.2B
IOT $653M
FY24
BSY $1.4B
IOT $937M
FY25
BSY $1.5B
IOT $1.2B
FY26
BSY —
IOT $1.6B
BSY
IOT
FY18
BSY 17.6%
IOT —
FY19
BSY 19.3%
IOT —
FY20
BSY 18.7%
IOT —
FY21
BSY 9.8%
IOT −83.8%
FY22
BSY 19.0%
IOT −82.6%
FY23
BSY 18.8%
IOT −39.8%
FY24
BSY 22.3%
IOT −34.5%
FY25
BSY 24.2%
IOT −15.2%
FY26
BSY —
IOT −3.3%
BSY
IOT
FY18
BSY $143M
IOT —
FY19
BSY $154M
IOT —
FY20
BSY $242M
IOT —
FY21
BSY $270M
IOT −$204M
FY22
BSY $256M
IOT −$191M
FY23
BSY $392M
IOT −$136M
FY24
BSY $421M
IOT −$22.8M
FY25
BSY $520M
IOT $111M
FY26
BSY —
IOT $207M
BSY
IOT
FY18
BSY —
IOT —
FY19
BSY —
IOT —
FY20
BSY 25.3%
IOT —
FY21
BSY 9.6%
IOT —
FY22
BSY 9.8%
IOT —
FY23
BSY 10.0%
IOT —
FY24
BSY 10.3%
IOT —
FY25
BSY 12.3%
IOT —
FY26
BSY —
IOT —
BSY
IOT
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.