Bentley Systems Incorporated (BSY) exhibits 81.5% gross margins and 12.4% return on invested capital within Technology (Computer Software: Prepackaged Software), balanced against a 34.7x enterprise multiple and 4.8% implied options volatility.
Sustained 81.5% gross profitability converts into 24.1% operating margin and 12.4% ROIC, outpacing sector cost of capital.
ROIC: 12.4% // GM: 81.5%YoY revenue trajectory of +11.0% paired with 4.34% free cash flow yield supports self-funded R&D and capital return.
REV YOY: +11.0% // FCF YLD: 4.34%Altman Z-Score of 3.64 and Piotroski F-Score of 8/9 indicate low near-term refinancing stress.
ALTMAN Z: 3.64 // F-SCORE: 8/9Trading at 43.1x trailing P/E (40.1x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.
P/E: 43.1x // EV/EBITDA: 34.7xOptions market prices a ±5.2% implied move with a 0.85 put/call ratio around $42.40 max pain.
IMPL MOVE: ±5.2% // P/C: 0.85Elevated industry capital intensity and customer concentration in Computer Software: Prepackaged Software require continuous execution to defend 18.5% net margins.
NET MARGIN: 18.5% // D/E: 1.05x| FILER | SIDE | $ VALUE |
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| INSPECT FULL OWNERSHIP LEDGER IN OWN <GO> | ||
| STRIKE / EXP | TYPE | PREMIUM |
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| INSPECT GEX & CHAIN IN OPT <GO> | ||
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