$Bentley Systems (BSY.US)$The stock price has risen 50% sinc...

The US company listed in 2020 is mainly in the construction industry software business. The global market is currently at a price of 55.34. Revenue continued to grow after listing, with a 3-year average growth rate of 15.3%, but the growth rate is slowing down. In 2023, operating profit shrank sharply in 2021 due to a sharp increase in management expenses. The 3-year average growth rate was 9.5%. Net profit increased sharply to 330 million in 2023 due to income tax rebates. In fact, profit before tax shrank by 7.44%, to only 184 million.

24Q1 revenue increased 7.4%, operating profit increased sharply by 39.7% due to higher gross margin and lower share of expenses, and net profit increased 54.6%.

Currently, the price-earnings ratio is 55.3. Excluding income tax, the price-earnings ratio is actually higher than 100. Currently, the valuation is still not very attractive.