BSY
Bentley Systems, Incorporated
BSY has lower modeled downside risk, despite its lower overall score.
SNDK
Sandisk Corporation
SNDK has the edge over BSY overall, supported by stronger fundamentals and stronger modeled upside.
BSY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Stable |
BSY's revenue, profitability and cash flow are currently healthy, and its balance sheet is stable.
SNDK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
SNDK's revenue, profitability, cash flow and balance sheet are all currently strong.
BSY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 30x | $44.19 | — |
| Cheap | 43x | $43.18 | -2.3% |
| Current | 44x | $44.19 | — |
| Fair | 69x | $69.78 | +58% |
| Expensive | 116x | $117 | +165% |
Historical ranges are pointers, not guarantees.
BSY's PE is in its cheap range at 44x. If earnings grow as analysts expect, today's price would be 30x next year's earnings.
SNDK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 3.8x | $937 | — |
| Current | 7.5x | $937 | — |
| Cheap | 17x | $2,173 | +132% |
| Fair | 24x | $3,048 | +225% |
| Expensive | 59x | $7,452 | +695% |
Historical ranges are pointers, not guarantees.
SNDK has the edge over BSY in the historical PE scenario, which offers more potential upside but is not a forecast.
BSY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for BSY, with profitability improving.
SNDK Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| High |
Analysts expect strong earnings and revenue growth for SNDK, with profitability improving.
BSY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.48 | +46% |
| Q3 2026 | $1.01 | +22% |
| Q2 2026 | $0.90 | +15% |
| Q1 2026 | $0.87 | +12% |
| Q4 2025 | $0.85 | +18% |
| Q3 2025 | $0.83 | -26% |
| Q2 2025 | $0.78 | -32% |
| Q1 2025 | $0.78 | -28% |
| Q4 2024 | $0.72 | -28% |
BSY earned $1.01 per share over the past year, up 22% from the year before.
SNDK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $247.30 | +97% |
| Q3 2026 | $125.61 | +$137.63 |
| Q2 2026 | $73.76 | +$85.07 |
| Q2 2025 | -$11.31 | -$6.65 |
SNDK has the edge over BSY in the latest year-over-year earnings comparison.
BSY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $421.5M | +12% |
| Q2 2026 | $410.7M | +13% |
| Q1 2026 | $424.2M | +14% |
| Q4 2025 | $391.6M | +12% |
| Q3 2025 | $375.5M | +12% |
| Q2 2025 | $364.1M | +10% |
| Q1 2025 | $370.5M | +9.7% |
| Q4 2024 | $349.8M | +13% |
BSY's revenue has grown year over year every quarter since late 2020: $422M last quarter, up 12% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 29% | +6.6 points |
| Q2 2026 | 22% | -1.6 points |
| Q1 2026 | 30% | -1.3 points |
| Q4 2025 | 20% | +2.5 points |
| Q3 2025 | 23% | +2 points |
| Q2 2025 | 23% | -1.1 points |
| Q1 2025 | 31% | +3.9 points |
| Q4 2024 | 18% | +5.4 points |
BSY's operating margin was 29% last quarter, up 6.6 points from the same quarter a year ago.
SNDK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $11B | +378% |
| Q2 2026 | $9B | +372% |
| Q1 2026 | $6B | +251% |
| Q4 2025 | $3B | +61% |
| Q3 2025 | $2.3B | +23% |
| Q2 2025 | $1.9B | +8% |
| Q1 2025 | $1.7B | -0.6% |
| Q4 2024 | $1.9B | +13% |
SNDK's revenue has grown year over year for six quarters in a row: $11B last quarter, up 378% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 80% | +72 points |
| Q2 2026 | 78% | +78 points |
| Q1 2026 | 69% | +180 points |
| Q4 2025 | 35% | +25 points |
| Q3 2025 | 7.6% | -9 points |
| Q2 2025 | 0.9% | N/A |
| Q1 2025 | -111% | -122 points |
| Q4 2024 | 10% | +6.6 points |
SNDK has the edge over BSY on profitability, with a higher operating margin.
BSY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $101.4M | -8.3% |
| Q2 2026 | $63.8M | +12% |
| Q1 2026 | $187.9M | -13% |
| Q4 2025 | $136.2M | +79% |
| Q3 2025 | $110.7M | +31% |
| Q2 2025 | $57M | -4.2% |
| Q1 2025 | $216.4M | +7.4% |
| Q4 2024 | $76.1M | -6% |
BSY's free cash flow has been positive every quarter for six years: $489M over the past year, up 6.3% from the year before.
SNDK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $6.3B | +1340% |
| Q2 2026 | $7.1B | +14355% |
| Q1 2026 | $3B | +$3B |
| Q3 2025 | $438M | +$636M |
| Q2 2025 | $49M | +$217M |
| Q1 2025 | -$18M | +$23M |
| Q3 2024 | -$198M | -$157M |
SNDK has the edge over BSY on cash flow, with more consistent year-over-year improvement.
BSY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -1.3M shares |
| 1 year | -4.7% | -15.6M shares |
| 3 years | -4.5% | -15.1M shares |
| 5 years | +3.1% | +9.5M shares |
| Available history | +22% | +56.5M shares |
BSY has the edge over SNDK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $10M |
| Q2 2026 | $85.1M |
| Q1 2026 | $40M |
| Q4 2025 | $60M |
| Q3 2025 | $15M |
| Q2 2025 | $20M |
| Q1 2025 | $30M |
| Q4 2024 | $18.6M |
BSY spent $195M buying back its own shares over the past year, up 133% from the year before.
SNDK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -1M shares |
| 1 year | +3.4% | +5M shares |
| 3 years | +6.9% | +10M shares |
SNDK has 154M diluted shares, up 3.4% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $5B |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
BSY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.1x | Moderate |
| Q2 2026 | 2.5x | Moderate |
| Q1 2026 | 2.4x | Moderate |
| Q4 2025 | 2.7x | Moderate |
| Q3 2025 | 2.7x | Moderate |
| Q2 2025 | 3.0x | Moderate |
| Q1 2025 | 3.0x | Elevated |
| Q4 2024 | 3.7x | Elevated |
BSY's net debt is about 2.1 years of its operating earnings (EBITDA), down from 2.7 years a year ago.
SNDK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.7x | Net Cash |
SNDK has the edge over BSY on leverage, with a lower net debt burden relative to earnings.
BSY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 67.7 | Neutral |
| Stochastic | 85.8 | Overbought |
BSY's weekly RSI is 68 (neutral) and its Stochastic is 86 (overbought).
SNDK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.2 | Neutral |
| Stochastic | 10.6 | Oversold |
SNDK's weekly RSI is 40 (neutral) and its Stochastic is 11 (oversold).
BSY PE vs Technology Sector
| Metric | BSY | Sector median | Relative |
|---|---|---|---|
| PE | 44x | 28x | 57% above |
| PE % | 20 | 38 | 18 pts below |
BSY is trading at 44x earnings, a 57% premium to the Technology sector's median of 28x.
SNDK PE vs Technology Sector
| Metric | SNDK | Sector median | Relative |
|---|---|---|---|
| PE | 7.5x | 28x | 73% below |
| PE % | 4 | 27 | 23 pts below |
SNDK has the edge over BSY on valuation relative to its sector.
BSY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $37.9 | 17% above |
| 20 week MA | $35.5 | 25% above |
| 50 week MA | $35.5 | 25% above |
| 100 week MA | $42.0 | 5.3% above |
| 200 week MA | $45.4 | 2.7% below |
BSY has stronger trend alignment. BSY is above 4 of 5 weekly averages versus SNDK above 0 of 3.
SNDK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,317.5 | 29% below |
| 20 week MA | $1,465.4 | 36% below |
| 50 week MA | $1,119.6 | 16% below |
SNDK is in a downtrend: it's below all three of its weekly moving averages, and 16% below its 50-week average.
BSY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $34.8 | $38.5 | +11% |
| 2021 | $38.5 | $49.8 | +29% |
| 2022 | $49.8 | $36.8 | -26% |
| 2023 | $36.8 | $52.2 | +42% |
| 2024 | $52.2 | $47.6 | -8.8% |
| 2025 | $47.6 | $39.0 | -18% |
| 2026 YTD | $39.0 | $44.2 | +13% |
BSY has finished lower in three of the last six years. It's up 13% so far in 2026.
SNDK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2025 | $50.4 | $250.1 | +396% |
| 2026 YTD | $250.1 | $937.5 | +275% |
SNDK has the edge over BSY on returns for 2026, with the stronger performance.