Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific.
FAIL · Does not pass the screen
39.70 USD
Price as of 23 Oct 2026Daily close, not a live quoteLast reviewed 5 days ago
Screened 2026-10-23 · the tape above runs as of 18:04 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Key facts today
Price39.70 USD at the 23 Oct 2026 close
Ethical screenDoes not pass
OptionsOpen interest leans slightly to calls (put/call 0.84)
Last reviewed23 Oct 2026 (5 days ago)
A summary of the dated readings below, not a live quote and not advice.
PRICE · FAIR-VALUE RANGE1M3M6MYTD1Y3Y5Y
What this means: price 39.70 against the desk's fair-value range, base estimate 42.03, over the last year.
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.84, read 2026-10-23
Ethical does not pass the values gate
Price39.70 USD
Fair value42.03
Ethical score70.0/100
Our investment reviews on this name
2026-10-11Read Markup35.15+12.9% to today ✓Distribution gives way to Markup after a 10% rise in 9 days
2026-10-02Read Distribution31.96+24.2% to today Markup gives way to Distribution after a 13% slide in 6 weeks
2026-08-24Read Markup36.56+8.6% to today ✓Distribution gives way to Markup after a 19% rise in 8 weeks
2026-07-02Read Distribution30.67+29.4% to today First review on file: Distribution
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Bentley Systems Inc holds its Markup at $39.70. Consolidating, no directional conviction, held for 59 days.
As held on the ledger · 2026-10-23
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 59 days
Price at the screen
$39.70
Valuation
43.63 trailing · 25.14 forward price to earnings
Values screen
FAIL· score 70.0
Beta
1.00
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
36.14%
Below 33%
Interest-bearing debt is 36.1% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
13.11%
Below 49%
Money owed to the company is 13.1% of assets, under the 49% limit.
Pass
Revenue purity
0.19%
Below 5%
Only 0.2% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Bentley Systems's business is in a permissible area, but its interest-bearing debt is about 36% of the company, just over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-10-27. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when BSY's ethical verdict changes
Today BSY does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Fair value range in USD, drawn from the 2026-10-23 screen. The gold marker is the market price at the same screen. A 5.9% margin of safety to the base estimate.
Third-party analyst targets: 15 covering, consensus Buy. The average target sits +8% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-23 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Infrastructure Software Trading Below Its Worth
Picture a team of engineers in Dubai or Sydney modelling a new metro line. They need software that handles complex structures without constant crashes or compatibility headaches. Bentley Systems supplies exactly those tools across continents and keeps winning repeat business from governments and contractors.
The company grows revenue at 14% a year while posting an 18% profit margin and 24% return on equity. It trades at 20.4 times forward earnings with a 32% gap between the current price and our fair value. The narrow moat and clean ethical screen support a steady business that analysts rate a buy with a 44 dollar median target.
Yet the opportunity rating sits at none. A narrow moat leaves room for stronger rivals and the valuation already prices in much of the visible growth. Currency swings and slower infrastructure spending remain real threats. Analysis, not advice.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
BSY trades on NASDAQ. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-25Markup$39.70+9.6%Entry 9
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 9.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are down 31%. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (15 analysts) rates it buy, with a mean price target of $45. Since the last review it its composite score eased.
2026-10-18Markup$36.23+3.1%Entry 8
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 3.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 31%. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (15 analysts) rates it buy, with a mean price target of $45.
2026-10-11Markup · changed$35.15+10.0%Entry 7
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 10.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 31%. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (15 analysts) rates it buy, with a mean price target of $45. Since the last review it its composite score eased.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 12.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 31%. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (15 analysts) rates it buy, with a mean price target of $45. Since the last review it its composite score rose.
2026-08-24Markup · changed$36.56+13.0%Entry 5
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 13.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 31%. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (15 analysts) rates it buy, with a mean price target of $45.
2026-07-23Distribution$32.34+5.4%Entry 4
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 5.4% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 31%. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (15 analysts) rates it buy, with a mean price target of $45.
2026-07-18Distribution$30.67+0.0%Entry 3
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 31%. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (15 analysts) rates it buy, with a mean price target of $45.
2026-07-03Distribution$30.67+0.0%Entry 2
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-02Distribution$30.67Entry 1
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows negative risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
