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BSY vs. SAP: Bentley Systems vs. SAP Stock Comparison

How do Bentley Systems (BSY) and SAP (SAP) 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 SAP (SAP) are both classified in the Application Software sub-industry within the broader Software industry, placing them in the closest GICS peer bucket.

SAP (SAP) has more than two decades of public-market history since September 18, 1995, whereas Bentley Systems (BSY) listed on September 23, 2020 and has a much shorter record to draw on.

Bentley Systems (BSY) trades as ordinary local shares, while SAP (SAP) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for Bentley Systems (BSY) and SAP (SAP)
Profile ItemBSYSAP
NameBentley Systems, Incorporated Class B Common StockSAP SE Sponsored ADR
Country/RegionUnited StatesGermany
GICS SectorInformation TechnologyInformation Technology
GICS Industry GroupSoftware & ServicesSoftware & Services
GICS IndustrySoftwareSoftware
GICS Sub-IndustryApplication SoftwareApplication Software
Market Capitalization13.50 billion USD269.45 billion USD
CurrencyUSDUSD
ExchangeNasdaqNYSE
Listing DateSeptember 23, 2020September 18, 1995
Security TypeCommon StockADR

Price Performance

Cumulative Growth

BSY
SAP
GSPC
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Bentley Systems (BSY) vs. SAP (SAP), 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 SAP (SAP). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Bentley Systems (BSY) and SAP (SAP)
MetricBSYSAP
Total Return (1Y)-2.57%-3.87%
Total Return (3Y, Annualized)-3.01%20.21%
Total Return (5Y, Annualized)-5.13%11.79%

Risk Profile

Drawdown History

BSY
SAP
GSPC
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Bentley Systems (BSY) vs. SAP (SAP), 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 SAP (SAP). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Bentley Systems (BSY) and SAP (SAP)
MetricBSYSAP
Volatility (1Y, Annualized)41.49%39.05%
Beta (5Y)0.921.09
Max Drawdown (5Y)-53.94%-52.26%
Avg. Volume (3M)2.67M2.27M

Risk-Adjusted Performance

Risk-Return Positioning

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BSY and SAP 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 SAP (SAP)
MetricBSYSAP
Sharpe Ratio (1Y)-0.17-0.21
Sortino Ratio (1Y)-0.25-0.29

Profitability

ROE (TTM)

Both Bentley Systems (BSY) at 26.03% and SAP (SAP) at 18.18% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.

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%

SAP

Software & Services industry group

18.18%

Max
53.85%
SAP
18.18%
Q3
17.90%
Median
6.59%
Q1
-9.59%
Min
-50.52%
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Bentley Systems (BSY) vs. SAP (SAP): 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 SAP (SAP) at 20.41% 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%

SAP

Software & Services industry group

20.41%

Max
41.17%
SAP
20.41%
Q3
15.28%
Median
4.63%
Q1
-5.42%
Min
-33.17%
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Bentley Systems (BSY) vs. SAP (SAP): A comparison of their net margin against the Software & Services industry group benchmark.

Operating Margin (TTM)

Both Bentley Systems (BSY) at 29.81% and SAP (SAP) at 29.50% 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%

SAP

Software & Services industry group

29.50%

Max
46.89%
SAP
29.50%
Q3
17.64%
Median
8.73%
Q1
-2.13%
Min
-30.45%
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Bentley Systems (BSY) vs. SAP (SAP): A comparison of their operating margin against the Software & Services industry group benchmark.

Profitability Metrics

Profitability metrics for Bentley Systems (BSY) and SAP (SAP)
MetricBSYSAP
ROE (TTM)26.03%18.18%
ROA (TTM)7.73%9.91%
Net Margin (TTM)19.57%20.41%
Operating Margin (TTM)29.81%29.50%
Gross Margin (TTM)82.37%73.58%

Growth

Revenue Growth

Both Bentley Systems (BSY) at 10.99% and SAP (SAP) at 7.68% 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. SAP (SAP): A comparison of their Revenue Growth across different time periods.

EPS Growth

SAP (SAP) at 130.19% sits in the top EPS growth quartile, while Bentley Systems (BSY) at 18.06% is closer to the peer norm — faster per-share earnings growth for SAP.

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

Growth Metrics

Growth metrics for Bentley Systems (BSY) and SAP (SAP)
MetricBSYSAP
Revenue Growth (YoY)10.99%7.68%
Revenue Growth (3Y CAGR)10.97%7.63%
EPS Growth (YoY)18.06%130.19%
EPS Growth (3Y CAGR)15.62%46.25%

Financial Strength

Current Ratio (MRQ)

SAP (SAP) at 1.16 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

SAP

Software & Services industry group

1.16

Max
5.11
Q3
2.77
Median
1.67
SAP
1.16
Q1
1.01
Min
0.03
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Bentley Systems (BSY) vs. SAP (SAP): A comparison of their current ratio against the Software & Services industry group benchmark.

Debt / Equity (MRQ)

Both Bentley Systems (BSY) at 0.94 and SAP (SAP) at 0.23 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

SAP

Software & Services industry group

0.23

Max
2.52
Q3
1.13
Median
0.40
SAP
0.23
Q1
0.07
Min
0.00
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Bentley Systems (BSY) vs. SAP (SAP): 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 SAP (SAP)
MetricBSYSAP
Current Ratio (MRQ)0.651.16
Debt / Equity (MRQ)0.940.23
Net Debt / EBITDA2.12-0.03

Dividends

Dividend Yield (TTM)

Both Bentley Systems (BSY) at 0.62% and SAP (SAP) at 1.03% yield above their industries’ entire benchmark ranges — high enough that dividend safety, not income, becomes the first question.

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%

SAP

Software & Services industry group

1.03%

SAP
1.03%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%
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Bentley Systems (BSY) vs. SAP (SAP): A comparison of their dividend yield against the Software & Services industry group benchmark.

Dividend Payout Ratio (TTM)

Both Bentley Systems (BSY) at 27.72% and SAP (SAP) at 36.45% pay out more of their earnings than any of their industry peers — the thinnest cover in their groups, so dividend headroom deserves attention.

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%

SAP

Software & Services industry group

36.45%

SAP
36.45%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%
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Bentley Systems (BSY) vs. SAP (SAP): A comparison of their payout ratio against the Software & Services industry group benchmark.

Dividend Metrics

Dividend metrics for Bentley Systems (BSY) and SAP (SAP)
MetricBSYSAP
Dividend Yield (TTM)0.62%1.03%
Dividend Payout Ratio (TTM)27.72%36.45%

Valuation

P/E Ratio (TTM)

Both Bentley Systems (BSY) at 44.21 and SAP (SAP) at 29.07 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

SAP

Software & Services industry group

29.07

Max
112.94
Q3
60.32
Median
32.91
SAP
29.07
Q1
18.77
Min
6.69
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Bentley Systems (BSY) vs. SAP (SAP): A comparison of their P/E ratio against the Software & Services industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Bentley Systems (BSY) at 8.19 and SAP (SAP) at 6.84 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

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

SAP

Software & Services industry group

6.84

Max
17.91
Q3
8.78
SAP
6.84
Median
4.25
Q1
2.23
Min
0.02
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Bentley Systems (BSY) vs. SAP (SAP): 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 SAP (SAP) at 73.25 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

SAP

Software & Services industry group

73.25

SAP
73.25
Max
16.63
Q3
8.50
Median
4.30
Q1
1.92
Min
-3.90
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Bentley Systems (BSY) vs. SAP (SAP): A comparison of their P/B ratio against the Software & Services industry group benchmark.

Valuation Metrics

Valuation metrics for Bentley Systems (BSY) and SAP (SAP)
MetricBSYSAP
P/E Ratio (TTM)44.2129.07
P/S Ratio (TTM)8.196.84
P/B Ratio (MRQ)10.7973.25
Free Cash Flow Yield (TTM)2.74%3.73%