Bentley Systems, Incorporated (BSY) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 193.41M | 141.59M | 116.38M | 61.09M | 219.41M | 81.63M | 86.11M | 62.59M | 204.97M | 87.05M | 72.82M | 80.6M | 176.22M | 36.13M | 69.47M | 67M | 101.73M | 80.61M | 58.4M | 16.22M |
| Operating CF Margin % | 45.6% | 36.16% | 30.99% | 16.78% | 59.21% | 23.34% | 25.69% | 18.95% | 60.68% | 28.02% | 23.75% | 27.16% | 56.05% | 12.59% | 25.89% | 24.97% | 36.92% | 29.68% | 23.23% | 7.25% |
| Operating CF Growth % | -11.85% | 73.45% | 35.16% | -2.4% | 7.05% | -6.23% | 18.24% | -22.35% | 16.31% | 140.97% | 4.83% | 20.29% | 73.22% | -55.18% | 18.96% | 312.96% | -23.39% | -2.08% | 46.56% | -74.48% |
| Net Income | 95.31M | 58.64M | 57.29M | 70.47M | 91.34M | 49.74M | 42.32M | 72.03M | 70.31M | 179.59M | 53.03M | 48.69M | 45.49M | 25.72M | 37M | 55.67M | 56.39M | 41.4M | -48.02M | 45.63M |
| Depreciation & Amortization | 16.14M | 14.86M | 18.74M | 17.64M | 15.64M | 16.21M | 18.01M | 14.83M | 16.39M | 19.07M | 17.48M | 17.25M | 18.06M | 17.89M | 17.91M | 18.52M | 17.21M | 16.85M | 16.67M | 10.29M |
| Stock-Based Compensation | 0 | 17.54M | 18.04M | 27.18M | 17.4M | 16.56M | 16.1M | 22.1M | 19.66M | 16.88M | 18.5M | 18.1M | 19.48M | 23.85M | 18.79M | 17.47M | 15.1M | 16.19M | 12.26M | 11.69M |
| Deferred Taxes | 8.21M | 994K | 25.98M | -1.43M | -1.22M | 5.51M | -1.61M | 3.36M | 5.3M | -184.25M | 14.3M | -24.76M | -4.18M | 8.54M | 3.14M | -25.85M | 9.04M | -1.96M | -16.87M | -1.88M |
| Other Non-Cash Items | 21.06M | 12.09M | 7.41M | 5.36M | 5.17M | 3.46M | 46.84M | 3.84M | 4.19M | 34.71M | -3.83M | 8.55M | 7.07M | 104K | -3.01M | -10.2M | -13.88M | -83.49M | 91.11M | 7.49M |
| Working Capital Changes | 52.69M | 37.46M | -11.09M | -58.13M | 91.08M | -10.18M | -35.55M | -53.58M | 89.13M | 21.05M | -26.67M | 12.76M | 90.31M | -39.98M | -4.36M | 11.38M | 17.87M | 91.61M | 3.26M | -56.98M |
| Change in Receivables | 4.89M | -59.4M | 4.24M | 22.22M | 14.35M | -66.65M | 20.26M | -178K | 14.51M | -61.24M | 6.89M | 33.75M | 15.42M | -73.49M | -3.03M | 6.89M | 8.69M | -61.82M | 30.97M | -19.57M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -12.98M | 0 | 0 |
| Change in Payables | -11.06M | 18.54M | -7.59M | -21.04M | -8.36M | 38.6M | -5.27M | -43.45M | -874K | 35.3M | -8.53M | -11.16M | 53.13M | 416K | 3.08M | -1.11M | 26.79M | 18.31M | -8.58M | -17.35M |
| Cash from Investing | -5.55M | -98.53M | -6.64M | -4.09M | -3.04M | -7.59M | -124.73M | -7.1M | -3.85M | -9.26M | -21.49M | -8.99M | -20.76M | -29.68M | -16.48M | -23.39M | -700.58M | -8.76M | -39.85M | -947.37M |
| Capital Expenditures | -5.55M | -5.42M | -5.7M | -4.09M | -3.04M | -5.55M | -1.81M | -3.09M | -3.6M | -6.1M | -7.65M | -6.97M | -4.28M | -5.56M | -6.39M | -2.41M | -4.18M | -6.39M | -6.4M | -2.1M |
| CapEx % of Revenue | 1.31% | 1.38% | 1.52% | 1.12% | 0.82% | 1.59% | 0.54% | 0.94% | 1.07% | 1.96% | 2.5% | 2.35% | 1.36% | 1.94% | 2.38% | 0.9% | 1.52% | 2.35% | 2.55% | 0.94% |
| Acquisitions | 0 | -93.25M | 0 | 0 | 0 | -1.63M | -123.77M | -5M | 0 | -2.91M | -12.81M | 0 | -10.3M | -23.47M | -5.34M | -18.23M | -695.97M | -1.29M | -31.14M | -944.58M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 179K | 0 | 0 | 0 | 221K | 1.1M | 1.3M | 0 | 0 | 2.12M | 0 | 0 | -650K | 4.06M | 0 | 2.38M | -1.08M | -2.3M | -700K |
| Cash from Financing | -204.44M | -85.09M | -33.7M | -56.7M | -200.81M | -76.63M | 57.78M | -144.56M | -126.44M | -79.06M | -64.04M | -81.73M | -134.24M | -11.66M | -71.08M | -74.16M | 399.93M | 112.93M | 3.14M | 494.37M |
| Debt Issued (Net) | -134.42M | 0 | 0 | 1K | -145.11M | -32.39M | 82.7M | -102.5M | -94.53M | -62.67M | -49.05M | -39.62M | -107.23M | -3.65M | -50.46M | -47.59M | 438.97M | 129.23M | 30.88M | 595.74M |
| Equity Issued (Net) | -48.75M | -63.83M | -18.61M | -35.35M | -39.45M | -19.89M | -9.83M | -24.04M | -23.11M | -1.41M | -6.33M | -30.25M | -20.95M | -1.35M | -16.7M | -18.64M | -35.12M | -9.23M | -18.91M | -69.07M |
| Dividends Paid | -21.23M | -21.21M | -21.26M | -21.3M | -21.2M | -18.13M | -18.13M | -17.98M | -17.87M | -14.76M | -14.77M | -14.7M | -14.52M | -8.66M | -8.66M | -8.63M | -8.53M | -8.32M | -8.48M | -8.37M |
| Share Repurchases | -54.25M | -92.22M | -18.61M | -20.01M | -39.45M | -19.89M | -9.83M | -24.04M | -23.11M | -1.41M | -6.33M | -30.25M | -20.95M | -1.35M | -16.7M | -18.64M | -35.12M | -9.23M | -23.47M | -69.07M |
| Other Financing | -50K | -51K | 6.17M | -55K | 4.95M | -6.22M | 3.04M | -48K | 9.07M | -214K | 6.1M | 2.84M | 8.46M | 2.01M | 4.75M | 714K | 4.61M | 1.26M | -344K | -24.63M |
| Net Change in Cash | -18.12M | -42.13M | 75.77M | 6.01M | 19.63M | -8.17M | 20.9M | -90.32M | 73.19M | 1.45M | -15.75M | -10.85M | 21.88M | -1.17M | -20.55M | -36.21M | -199.72M | 173.58M | 24.6M | -438.38M |
| Free Cash Flow | 187.86M | 136.17M | 110.67M | 56.99M | 216.37M | 76.08M | 84.3M | 59.5M | 201.37M | 80.96M | 65.17M | 73.63M | 171.94M | 30.56M | 63.08M | 64.59M | 97.56M | 74.22M | 51.99M | 14.13M |
| FCF Margin % | 44.29% | 34.77% | 29.47% | 15.65% | 58.39% | 21.75% | 25.15% | 18.01% | 59.62% | 26.06% | 21.26% | 24.81% | 54.69% | 10.65% | 23.51% | 24.07% | 35.41% | 27.32% | 20.68% | 6.31% |
| FCF Growth % | -13.18% | 78.97% | 31.29% | -4.21% | 7.45% | -6.02% | 29.34% | -19.19% | 17.12% | 164.89% | 3.32% | 14% | 76.25% | -58.82% | 21.31% | 357.12% | -25.04% | -6.53% | 43.31% | -75.68% |
| FCF per Share | 0.58 | 0.41 | 0.33 | 0.17 | 0.65 | 0.23 | 0.25 | 0.18 | 0.60 | 0.24 | 0.20 | 0.22 | 0.52 | 0.09 | 0.19 | 0.19 | 0.29 | 0.24 | 0.17 | 0.04 |
| FCF Conversion (FCF/Net Income) | 2.03x | 2.41x | 2.03x | 0.87x | 2.40x | 1.63x | 2.03x | 0.87x | 2.92x | 0.48x | 1.37x | 1.66x | 3.87x | 1.40x | 1.88x | 1.20x | 1.80x | 1.95x | -1.22x | 0.36x |
| Interest Paid | 0 | 0 | 2.52M | 1.17M | 2.15M | 5.07M | 3.42M | 3.45M | 5.26M | 8.02M | 9.99M | 8.91M | 10.47M | 8.93M | 7.12M | 5.23M | 5.3M | 1.35M | 1.41M | 1.1M |
| Taxes Paid | 0 | 0 | 4.91M | 23.04M | 8.43M | 25.8M | 10.48M | 11.75M | 11.72M | 14.15M | 11.3M | 12.06M | 6.1M | 8.78M | 9.09M | 4.84M | 6.77M | 7.84M | 7.25M | 20.89M |