Bentley Systems, Incorporated (BSY) vs Manhattan Associates, Inc. (MANH)

Bentley Systems, Incorporated and Manhattan Associates, Inc. are both Software Application companies. Manhattan Associates, Inc. is the larger, with a market value of $12.1B against $10.5B — 1.1× the size. Bentley Systems, Incorporated trades at the lower P/E: 37.6× against 58.0×. Bentley Systems, Incorporated grew revenue faster over the last twelve months: 12.9% against 6.48%. Manhattan Associates, Inc. has the higher net margin (18.7% vs 18.1%) and the lower return on invested capital (0.00% vs 10.4%). Across the 22 metrics below, Bentley Systems, Incorporated leads on 13 and Manhattan Associates, Inc. on 9.

Valuation

Metric BSY MANH Software Application median
P/E 37.60 58.04 24.69
P/S 6.81 10.69 2.74
P/B 9.07 76.44 2.83
Price to free cash flow 21.87 30.16 17.55
EV/EBITDA 26.58 42.23 14.66
EV/Sales 7.47 10.53 2.65
Earnings yield 2.66% 1.72% 0.00%
Free cash flow yield 4.57% 3.32% 1.87%

Profitability

Metric BSY MANH Software Application median
Gross margin 81.84% 55.81% 67.03%
Operating margin 23.59% 24.33% 0.00%
Net margin 18.10% 18.67% 0.00%
Free cash flow margin 31.12% 35.45% 5.01%
Return on equity 24.53% 96.38% 0.00%
Return on assets 8.28% 29.13% 0.00%
Return on invested capital 10.39% 0.00% 0.00%

Growth

Metric BSY MANH Software Application median
Revenue growth (TTM) 12.85% 6.48% 12.48%
EPS growth (last fiscal year) 15.83% 2.56% 32.26%
Revenue growth, 5-year CAGR 13.38% 13.02% 14.21%
Net income growth, 5-year CAGR 17.08% 20.32% 0.00%

Health

Metric BSY MANH Software Application median
Debt to equity 1.01 0.00 0.02
Current ratio 0.59 0.98 1.52
Net debt to EBITDA 2.58 (1.15) 0.06

Dividend

Metric BSY MANH Software Application median
Dividend yield 0.80% — 0.86%
Payout ratio 0.31 — 0.29

Size

Metric BSY MANH Software Application median
Market cap 10.52b 12.06b 379.49m

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