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BSY vs. FTNT: Bentley Systems vs. Fortinet Stock Comparison

How do Bentley Systems (BSY) and Fortinet (FTNT) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Bentley Systems (BSY) and Fortinet (FTNT) both belong to the Software industry, though BSY is classified under Application Software while FTNT falls under Systems Software.

Company profile comparison for Bentley Systems (BSY) and Fortinet (FTNT)
Profile ItemBSYFTNT
NameBentley Systems, Incorporated Class B Common StockFortinet, Inc.
Country/RegionUnited StatesUnited States
GICS SectorInformation TechnologyInformation Technology
GICS Industry GroupSoftware & ServicesSoftware & Services
GICS IndustrySoftwareSoftware
GICS Sub-IndustryApplication SoftwareSystems Software
Market Capitalization13.50 billion USD87.31 billion USD
CurrencyUSDUSD
ExchangeNasdaqNasdaq
Listing DateSeptember 23, 2020November 18, 2009
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

BSY
FTNT
GSPC
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Bentley Systems (BSY) vs. Fortinet (FTNT), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Bentley Systems (BSY) and Fortinet (FTNT). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Bentley Systems (BSY) and Fortinet (FTNT). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Bentley Systems (BSY) and Fortinet (FTNT)
MetricBSYFTNT
Total Return (1Y)-2.57%49.91%
Total Return (3Y, Annualized)-3.01%35.15%
Total Return (5Y, Annualized)-5.13%11.92%

Risk Profile

Drawdown History

BSY
FTNT
GSPC
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Bentley Systems (BSY) vs. Fortinet (FTNT), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Bentley Systems (BSY) and Fortinet (FTNT). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Bentley Systems (BSY) and Fortinet (FTNT)
MetricBSYFTNT
Volatility (1Y, Annualized)41.49%49.03%
Beta (5Y)0.921.07
Max Drawdown (5Y)-53.94%-38.98%
Avg. Volume (3M)2.67M4.68M

Risk-Adjusted Performance

Risk-Return Positioning

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BSY and FTNT are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Bentley Systems (BSY) and Fortinet (FTNT)
MetricBSYFTNT
Sharpe Ratio (1Y)-0.170.93
Sortino Ratio (1Y)-0.251.37

Profitability

ROE (TTM)

Both companies show strong equity returns, but Fortinet (FTNT) at 153.08% is the standout with ROE above its industry range; Bentley Systems (BSY) at 26.03% also sits in the top quartile.

BSY

Software & Services industry group

26.03%

Max
53.85%
BSY
26.03%
Q3
17.90%
Median
6.59%
Q1
-9.59%
Min
-50.52%

FTNT

Software & Services industry group

153.08%

FTNT
153.08%
Max
53.85%
Q3
17.90%
Median
6.59%
Q1
-9.59%
Min
-50.52%
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Bentley Systems (BSY) vs. Fortinet (FTNT): A comparison of their ROE against the Software & Services industry group benchmark.

Net Margin (TTM)

For every dollar of sales, both Bentley Systems (BSY) at 19.57% and Fortinet (FTNT) at 28.96% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

BSY

Software & Services industry group

19.57%

Max
41.17%
BSY
19.57%
Q3
15.28%
Median
4.63%
Q1
-5.42%
Min
-33.17%

FTNT

Software & Services industry group

28.96%

Max
41.17%
FTNT
28.96%
Q3
15.28%
Median
4.63%
Q1
-5.42%
Min
-33.17%
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Bentley Systems (BSY) vs. Fortinet (FTNT): A comparison of their net margin against the Software & Services industry group benchmark.

Operating Margin (TTM)

Both Bentley Systems (BSY) at 29.81% and Fortinet (FTNT) at 33.82% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

BSY

Software & Services industry group

29.81%

Max
46.89%
BSY
29.81%
Q3
17.64%
Median
8.73%
Q1
-2.13%
Min
-30.45%

FTNT

Software & Services industry group

33.82%

Max
46.89%
FTNT
33.82%
Q3
17.64%
Median
8.73%
Q1
-2.13%
Min
-30.45%
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Bentley Systems (BSY) vs. Fortinet (FTNT): A comparison of their operating margin against the Software & Services industry group benchmark.

Profitability Metrics

Profitability metrics for Bentley Systems (BSY) and Fortinet (FTNT)
MetricBSYFTNT
ROE (TTM)26.03%153.08%
ROA (TTM)7.73%15.22%
Net Margin (TTM)19.57%28.96%
Operating Margin (TTM)29.81%33.82%
Gross Margin (TTM)82.37%79.75%

Growth

Revenue Growth

Both Bentley Systems (BSY) at 10.99% and Fortinet (FTNT) at 14.17% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

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Bentley Systems (BSY) vs. Fortinet (FTNT): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Bentley Systems (BSY) at 18.06% and Fortinet (FTNT) at 7.08% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

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Bentley Systems (BSY) vs. Fortinet (FTNT): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Bentley Systems (BSY) and Fortinet (FTNT)
MetricBSYFTNT
Revenue Growth (YoY)10.99%14.17%
Revenue Growth (3Y CAGR)10.97%15.46%
EPS Growth (YoY)18.06%7.08%
EPS Growth (3Y CAGR)15.62%31.68%

Financial Strength

Current Ratio (MRQ)

Fortinet (FTNT) at 1.40 keeps current ratio within its industry’s typical mid-range, while Bentley Systems (BSY) at 0.65 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for BSY.

BSY

Software & Services industry group

0.65

Max
5.11
Q3
2.77
Median
1.67
Q1
1.01
BSY
0.65
Min
0.03

FTNT

Software & Services industry group

1.40

Max
5.11
Q3
2.77
Median
1.67
FTNT
1.40
Q1
1.01
Min
0.03
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Bentley Systems (BSY) vs. Fortinet (FTNT): A comparison of their current ratio against the Software & Services industry group benchmark.

Debt / Equity (MRQ)

Both Bentley Systems (BSY) at 0.94 and Fortinet (FTNT) at 0.25 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

BSY

Software & Services industry group

0.94

Max
2.52
Q3
1.13
BSY
0.94
Median
0.40
Q1
0.07
Min
0.00

FTNT

Software & Services industry group

0.25

Max
2.52
Q3
1.13
Median
0.40
FTNT
0.25
Q1
0.07
Min
0.00
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Bentley Systems (BSY) vs. Fortinet (FTNT): A comparison of their debt-to-equity ratio against the Software & Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Bentley Systems (BSY) and Fortinet (FTNT)
MetricBSYFTNT
Current Ratio (MRQ)0.651.40
Debt / Equity (MRQ)0.940.25
Net Debt / EBITDA2.12-1.54

Dividends

Dividend Yield (TTM)

Fortinet (FTNT) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Bentley Systems (BSY) reports a yield of 0.62%, ranking against industry peers normally.

BSY

Software & Services industry group

0.62%

BSY
0.62%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%

FTNT

Software & Services industry group

0.00%

FTNT
0.00%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%
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Bentley Systems (BSY) vs. Fortinet (FTNT): A comparison of their dividend yield against the Software & Services industry group benchmark.

Dividend Payout Ratio (TTM)

Fortinet (FTNT) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Bentley Systems (BSY) reports a payout of 27.72%, ranking against industry peers normally.

BSY

Software & Services industry group

27.72%

BSY
27.72%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%

FTNT

Software & Services industry group

0.00%

FTNT
0.00%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%
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Bentley Systems (BSY) vs. Fortinet (FTNT): A comparison of their payout ratio against the Software & Services industry group benchmark.

Dividend Metrics

Dividend metrics for Bentley Systems (BSY) and Fortinet (FTNT)
MetricBSYFTNT
Dividend Yield (TTM)0.62%0.00%
Dividend Payout Ratio (TTM)27.72%0.00%

Valuation

P/E Ratio (TTM)

Both Bentley Systems (BSY) at 44.21 and Fortinet (FTNT) at 38.84 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

BSY

Software & Services industry group

44.21

Max
112.94
Q3
60.32
BSY
44.21
Median
32.91
Q1
18.77
Min
6.69

FTNT

Software & Services industry group

38.84

Max
112.94
Q3
60.32
FTNT
38.84
Median
32.91
Q1
18.77
Min
6.69
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Bentley Systems (BSY) vs. Fortinet (FTNT): A comparison of their P/E ratio against the Software & Services industry group benchmark.

P/S Ratio (TTM)

Bentley Systems (BSY) at 8.19 is priced about in line with its industry on P/S ratio, while Fortinet (FTNT) at 11.08 sits in the pricier quartile — FTNT costs more per dollar of sales.

BSY

Software & Services industry group

8.19

Max
17.91
Q3
8.78
BSY
8.19
Median
4.25
Q1
2.23
Min
0.02

FTNT

Software & Services industry group

11.08

Max
17.91
FTNT
11.08
Q3
8.78
Median
4.25
Q1
2.23
Min
0.02
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Bentley Systems (BSY) vs. Fortinet (FTNT): A comparison of their P/S ratio against the Software & Services industry group benchmark.

P/B Ratio (MRQ)

Both look rich against book: Bentley Systems (BSY) at 10.79 sits in the upper P/B ratio quartile, and Fortinet (FTNT) at 38.85 prices even higher, above its industry range.

BSY

Software & Services industry group

10.79

Max
16.63
BSY
10.79
Q3
8.50
Median
4.30
Q1
1.92
Min
-3.90

FTNT

Software & Services industry group

38.85

FTNT
38.85
Max
16.63
Q3
8.50
Median
4.30
Q1
1.92
Min
-3.90
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Bentley Systems (BSY) vs. Fortinet (FTNT): A comparison of their P/B ratio against the Software & Services industry group benchmark.

Valuation Metrics

Valuation metrics for Bentley Systems (BSY) and Fortinet (FTNT)
MetricBSYFTNT
P/E Ratio (TTM)44.2138.84
P/S Ratio (TTM)8.1911.08
P/B Ratio (MRQ)10.7938.85
Free Cash Flow Yield (TTM)2.74%2.85%