Bentley Systems (BSY) vs SPS Commerce (SPSC)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
SPS Commerce (SPSC) has outperformed Bentley Systems (BSY) over the past year, losing 23.3% versus a loss of 31.6%. Over five years, BSY leads with a -39.4% price change compared with -48.9% for SPSC. Bentley Systems is the larger company by market cap ($10.52 billion vs $3.00 billion), about 3.5 times the size, while SPS Commerce is growing revenue faster (+17.8% vs +11.0%).
On valuation, SPS Commerce trades at a lower forward P/E (15.6x vs 22.1x for Bentley Systems). Bentley Systems pays a dividend yielding 0.80%, while SPS Commerce does not currently pay one. Bentley Systems converts more of its revenue into profit, with a net margin of 18.5% versus 12.4%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | BSY | SPSC |
|---|---|---|
| Share price | $34.82 | $83.32 |
| Market cap | $10.52B | $3.00B |
| 1-day change | -0.94% | +2.86% |
| YTD return | -8.76% | -6.52% |
| 1-year return | -31.60% | -23.29% |
| 5-year return | -39.38% | -48.86% |
| P/E ratio (TTM) | 38.26 | 40.25 |
| Forward P/E | 22.05 | 15.65 |
| EPS (TTM) | $0.91 | $2.07 |
| Dividend yield | 0.80% | 0.00% |
| Annual dividend | $0.28 | $0.00 |
| Revenue (latest FY) | $1.50B | $751.50M |
| Revenue growth (YoY) | +10.99% | +17.83% |
| Net income (latest FY) | $277.86M | $93.34M |
| Gross margin | 81.52% | 69.18% |
| Operating margin | 24.15% | 15.74% |
| Net margin | 18.50% | 12.42% |
| 52-week high | $52.85 | $114.87 |
| 52-week low | $28.08 | $49.04 |
| Distance from 52-week high | -34.12% | -27.47% |
| Analyst consensus | buy | none |
| Avg. price target upside | +26.16% | -9.45% |
| Average volume | 2.61M | 551.37K |
| Shares outstanding | 290.58M | 36.00M |
| Employees | 5,800 | 2,948 |
| Sector | Technology | Technology |
| Industry | Software - Application | Software - Application |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- Bentley Systems is about 3.5 times larger than SPS Commerce by market value ($10.52B vs $3.00B).
- Bentley Systems is more profitable, keeping 18.5 cents of every revenue dollar as net income versus 12.4 cents for SPS Commerce.
- SPS Commerce grew revenue faster in its latest fiscal year (+17.83% vs +10.99%).
About Bentley Systems
BSY stock →Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling applications, such as MicroStation, OpenBridge, OpenBuildings, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite and OpenSite+, OpenTower, OpenTunnel, and OpenUtilities; and open simulation applications, including ADINA, AutoPIPE, LEGION, OpenPaths, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.
Technology · Software - Application · 5,800 employees
About SPS Commerce
SPSC stock →SPS Commerce, Inc. provides cloud-based supply chain management solutions in the United States.
Technology · Software - Application · 2,948 employees
BSY vs SPSC FAQ
Which is bigger, Bentley Systems or SPS Commerce?
Bentley Systems (BSY) is larger, with a market capitalization of $10.52B compared with $3.00B for SPS Commerce (SPSC).
Which stock has performed better over the past year, BSY or SPSC?
SPSC returned -23.29% over the past 12 months, compared with -31.60% for BSY (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, BSY or SPSC?
BSY has the lower trailing P/E at 38.3, versus 40.3 for SPSC. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Bentley Systems or SPS Commerce?
Bentley Systems pays a dividend yielding 0.80%, while SPS Commerce does not currently pay a regular dividend.
Are Bentley Systems and SPS Commerce in the same industry?
Yes. Both are classified in the Software - Application industry within the Technology sector.