BSYMEDIUM SIGNALFINANCIAL10-K

BSY demonstrated solid operational performance with meaningful improvements in cash generation and profitability, while substantially increasing share buyback activity.

The company's 20% operating income growth combined with strong cash flow generation indicates healthy business momentum and operational efficiency gains. Management's decision to nearly double share buybacks to $125.1M signals confidence in the business while returning excess capital to shareholders through both repurchases and higher dividend payments.

Comparing 2026-02-26 vs 2025-02-26View on EDGAR →
FINANCIAL ANALYSIS

BSY delivered robust financial performance across key metrics, with operating income growing 20% to $362.6M and net income rising 18.3% to $277.9M. Operating cash flow expanded meaningfully to $538.5M, supporting a substantial increase in cash position to $123.3M and enabling management to nearly double share buyback activity while maintaining steady capital investment. The overall financial picture reflects a company generating strong cash flows and effectively deploying capital for shareholder returns.

FINANCIAL STATEMENT CHANGES
Share Buybacks
Cash Flow
+94.3%
$64.4M$125.1M

Share repurchases increased 94.3% — management returning capital, signals confidence in intrinsic value.

Cash & Equivalents
Balance Sheet
+92.6%
$64.0M$123.3M

Cash position surged 92.6% — strong cash generation or capital raise providing significant financial cushion.

Capital Expenditure
Cash Flow
+30%
$14.0M$18.3M

Capital expenditure jumped 30% — major investment cycle underway; assess returns on deployment.

Operating Cash Flow
Cash Flow
+23.7%
$435.3M$538.5M

Operating cash flow grew 23.7% — strong conversion of earnings to cash, healthy business fundamentals.

Current Assets
Balance Sheet
+21.9%
$442.1M$539.0M

Current assets grew 21.9% — improving short-term liquidity or inventory/receivables build.

Operating Income
P&L
+20%
$302.1M$362.6M

Operating income improving — cost discipline or growing revenue base absorbing fixed costs.

Net Income
P&L
+18.3%
$234.8M$277.9M

Net income grew 18.3% — bottom-line growth signals improving overall business health.

Current Liabilities
Balance Sheet
+17.9%
$814.3M$960.2M

Current liabilities rose 17.9% — increased short-term obligations, watch current ratio.

Dividends Paid
Cash Flow
+17.8%
$72.1M$85.0M

Dividend payments increased 17.8% — management confidence in sustained cash generation.

Stockholders Equity
Balance Sheet
+14.3%
$1.0B$1.2B

Equity base grew 14.3% — retained earnings accumulation or equity issuance strengthening the balance sheet.

LANGUAGE CHANGES
NEW — 2026-02-26
PRIOR — 2025-02-26
ADDED
As of February 19, 2026, the registrant had 11,537,627 shares of Class A and 291,357,191 shares of Class B common stock outstanding.
The 2026 Proxy Statement will be filed within 120 days of the registrant s fiscal year ended December 31, 2025.
Form 10-K Summary 60 SIGNATURES 61 Report of Independent Registered Public Accounting Firm F- 1 Consolidated Financial Statements F- 3 Notes to Consolidated Financial Statements F- 9 2 Table of C ontents EXPLANATORY NOTE This Annual Report on Form 10 K is for the year ended December 31, 2025.
Our mission is to reshape how infrastructure systems and critical resources are delivered and optimized.
Our enduring commitment is to develop and support the most comprehensive portfolio of integrated software offerings across disciplines, sectors, geographies, and the infrastructure lifecycle, enabling digital workflows that improve project delivery and asset performance.
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REMOVED
As of February 19, 2025, the registrant had 11,537,627 shares of Class A and 291,565,797 shares of Class B common stock outstanding.
The 2025 Proxy Statement will be filed within 120 days of the registrant s fiscal year ended December 31, 2024.
Form 10-K Summary 62 SIGNATURES 63 Report of Independent Registered Public Accounting Firm F- 1 Consolidated Financial Statements F- 3 Notes to Consolidated Financial Statements F- 9 2 EXPLANATORY NOTE This Annual Report on Form 10 K is for the year ended December 31, 2024.
We empower people to design, build, and operate better and more resilient infrastructure through the adoption of our intelligent digital twin solutions.
Our enduring commitment is to develop and support the most comprehensive portfolio of integrated software offerings across professional disciplines, infrastructure sectors, geographies, and the infrastructure lifecycle.
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