Bentley Systems, Incorporated (BSY) vs Procore Technologies, Inc. (PCOR)

Bentley Systems, Incorporated and Procore Technologies, Inc. are both Software Application companies. Bentley Systems, Incorporated is the larger, with a market value of $10.9B against $8.9B — 1.2× the size. Procore Technologies, Inc. has negative trailing earnings, so its P/E is not meaningful; Bentley Systems, Incorporated trades at 38.0×. Procore Technologies, Inc. grew revenue faster over the last twelve months: 15.4% against 12.9%. Bentley Systems, Incorporated has the higher net margin (18.1% vs −2.73%) and the higher return on invested capital (10.4% vs −6.94%). Across the 21 metrics below, Bentley Systems, Incorporated leads on 14 and Procore Technologies, Inc. on 7.

Valuation

Metric BSY PCOR Software Application median
P/E 38.03 n/m 25.41
P/S 6.88 6.06 2.73
P/B 9.17 6.75 2.57
Price to free cash flow 22.12 30.82 17.58
EV/EBITDA 26.85 168.53 15.36
EV/Sales 7.55 5.60 2.59
Earnings yield 2.63% (0.46%) 0.00%
Free cash flow yield 4.52% 3.24% 2.24%

Profitability

Metric BSY PCOR Software Application median
Gross margin 81.84% 79.96% 67.03%
Operating margin 23.59% (4.86%) 0.00%
Net margin 18.10% (2.73%) 0.00%
Free cash flow margin 31.12% 19.67% 5.01%
Return on equity 24.53% (3.12%) 0.00%
Return on assets 8.28% (1.83%) 0.00%
Return on invested capital 10.39% (6.94%) 0.00%

Growth

Metric BSY PCOR Software Application median
Revenue growth (TTM) 12.85% 15.41% 12.48%
EPS growth (last fiscal year) 15.83% 6.94% 32.26%
Revenue growth, 5-year CAGR 13.38% 27.00% 14.21%
Net income growth, 5-year CAGR 17.08% 0.00% 0.00%

Health

Metric BSY PCOR Software Application median
Debt to equity 1.01 0.00 0.02
Current ratio 0.59 1.17 1.52
Net debt to EBITDA 2.58 53.89 0.08

Dividend

Metric BSY PCOR Software Application median
Dividend yield 0.79% — 0.95%
Payout ratio 0.31 — 0.29

Size

Metric BSY PCOR Software Application median
Market cap 10.94b 8.90b 357.77m

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