STOCK COMPARISON
Bentley Systems Inc vs SAP: Fair Value & Quality
Both stocks run through our valuation models. Here is how Bentley Systems Inc (BSY) and SAP (SAP) compare, as of Aug 8, 2026.
As of Aug 8, 2026, Fair Value Calculator sees SAP as the less overvalued of the two: Bentley Systems Inc trades at $35.36 versus a fair value of $15.08 (-57%), while SAP trades at €171 versus €126 (-27%).
Bentley Systems Inc
BSY · USD · Information Technology
-57%
upside to fair value
overvalued
Price$35.36
Fair Value$15.08
Quality59/100
SAP
SAP.XETRA · EUR · Information Technology
-27%
upside to fair value
overvalued
Price€171
Fair Value€126
Quality67/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
Bentley Systems IncSAP
Valuation
36.4×P/E (TTM)22.1×
6.19×P/S (TTM)4.97×
8.09×P/B4.15×
23.4×EV/EBITDA15.7×
1.40×PEG1.37×
0.9%Dividend yield1.8%
$0.28Dividend per share€2.50
Profitability
18%Net margin20%
30%Operating margin30%
24%Return on equity16%
7%Return on assets9%
Growth
15%Revenue growth (YoY)6%
11.0%Avg. growth/yr (3Y)6.0%
13.4%Avg. growth/yr (5Y)6.1%
Balance & size
1.05×Debt / equity0.09×
$10BMarket cap$186B
healthyGrowth qualityhealthy
SAP leads: 5 to 9 metric wins.
Dash = not meaningfully computable, for example with negative equity.
Quality in detail
The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.
Bentley Systems Incof which business quality 71 · market factors 34
SAPof which business quality 78 · market factors 38
ProfitabilityMargins and returns on capital today
60
62
Quality GrowthAre margins and returns improving?
57
76
CashflowEarnings quality: real cash, not paper profit
99
80
Fin. StrengthBalance sheet, leverage, solvency risk
60
79
InvestmentDisciplined investing over empire-building
60
94
Low VolatilityCalm price path (market factor)
54
61
MomentumPrice trend over the last 3–12 months (market factor)
33
36
52W MomentumDistance to the 52-week high (market factor)
12
16
Net IssuanceBuybacks instead of dilution
82
84
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
Bentley Systems Inc
DCF Models$22.64
Earnings-Based$11.10
Dividend Discount$4.75
Multiples$14.03
Asset-Based$2.73
Growth DCF$24.70
Economic Profit$8.45
Growth Earnings$17.38
26 of 26 models see the stock below the current price.
SAP
DCF Models€134
Earnings-Based€60.32
Dividend Discount€41.03
Multiples€116
Asset-Based€25.68
Growth DCF€116
Economic Profit€69.81
Growth Earnings€116
26 of 26 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
Bentley Systems Inc
Bear $10.32Fair Value $15.08Bull $22.59
$35.36 = current price (white tick)
SAP
Bear €89.01Fair Value €126Bull €157
€171 = current price (white tick)
Compare two other stocks
Tap a field and type again, ticker or company name.
Ranked within their sector
Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.
Bentley Systems Inc · Information Technology
Quality score59 · above median
Fair value upside-57% · below median
SAP · Information Technology
Quality score67 · Top 25%
Fair value upside-27% · above median
Bottom line
As of Aug 8, 2026, Fair Value Calculator sees SAP as the less overvalued of the two: Bentley Systems Inc trades at $35.36 versus a fair value of $15.08 (-57%), while SAP trades at €171 versus €126 (-27%).
SAP has the higher quality score (67/100).
See the full analysis →
More comparisons
Popular match-ups from the same sectors, all with fair value and quality score.
Free · Top-25 report
See the undervalued quality stocks every month
Just your email for the monthly Top-25 report of the most undervalued quality stocks, with fair value, quality and price target. Plus 14 days of Pro to try, no card.
Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click. Not financial advice.
A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
