BSYBentley Systems, Incorporated
Is it safe?
Strong, no red flags: a safe balance sheet and quality strong.
Financially healthy, low distress risk Altman Z-score, a bankruptcy-risk model from five balance-sheet ratios.
High fundamental quality Piotroski F-score, nine pass/fail tests of year-over-year financial health across profitability, balance sheet and efficiency. 7 to 9 is strong, 0 to 3 weak.
Investment-grade balance sheet. A rule of thumb on leverage, not a credit rating.
Moderate price swings, typical volatility. Worst drawdown -61% · now 38% below its 52-week high.
Unless marked, from SEC EDGAR, as of Dec 31, 2025.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can BSY take a bad year?
Bentley Systems, Incorporated carries $1.07B of net debt at 2.56× EBITDA: a load its earnings can carry.
Net debt · as at Q2 2026 · between two and four years of EBITDA, normal for a stable business
- Net debt / EBITDA
- 2.56×
Net debt / EBITDA
- Altman Z-score
- 2.81
Altman Z-score · grey zone, between 1.8 and 3
- Interest cover
- 19.7×
Interest cover · operating profit covers the interest bill several times over
Details›
- Total debtQ2 2026
- $1.22B
- Cash and short-term investments
- $147M
- Net debt
- $1.07B
- EBITDA, trailing twelve months
- $419M
- Operating profit, trailing twelve months
- $378M
- Debt / equity
- 1.01×
- Total debt / EBITDA
- 2.91×
- Annualised volatilitytwo years of daily moves
- 35%
- Worst drawdown on file
- −61%
- Below its 52-week high
- 38%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.
Software, Application
Ranks #27 of 96 by RyuScore