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Stock Comparison · Industry comparison · Software - Application

Bentley Systems vs SAP: Which Stock Looks Stronger in 2026?

SAP SE leads structurally, with growth as the clearest single gap between the two profiles. The remaining gap is narrow enough that the comparison remains open to different readings. Both sides have seen trend damage — neither carries a clear market edge right now. With both trends damaged, the structural comparison carries most of the weight here.

The comparison is based on similar long-term financial trajectories, not sector labels. Peer scores are normalised within each company's primary universe (BSY: Russell 1000, SAP.DE: HDAX).

Updated 2026-08-16

Growth remains the main source of distance in the comparison.

INDUSTRY COMPARISON

Both operate in: Software - Application

This comparison is based on industry proximity, not on functional trajectory similarity. BSY and SAP.DE share the same industry classification.

For a similarity-based comparison, see how Bentley Systems and SAP SE each position within their functional peer groups in AssetNext.

Peer-Relative Score
BSY
Bentley Systems, Incorporated
44
Peer-Score
Signal qualityHigh
Peer basis: Russell 1000
vs
SAP.DE
SAP SE
50
Peer-Score
Signal qualitylow
Peer basis: HDAX

Scores reflect position relative to comparable companies with similar long-term financial trajectories.

The largest gaps do not all point in the same direction.

Dimension spread: BSY vs SAP.DE Profitability 39 48 Stability 45 42 Valuation 51 54 Growth 39 55 BSY SAP.DE
Gap Ranking
#1 Growth +16
#2 Profitability +9
#3 Valuation +3
#4 Stability +3
Price Setup

Left means cheaper relative valuation. Higher means stronger structure.

Price setup map for BSY and SAP.DE Stronger + cheaper Stronger + richer Weaker + cheaper Weaker + richer BSYSAP.DE Relative valuation Structural strength

The structural gap is limited here, but current pricing still leans against Bentley Systems, Incorporated.

Valuation position uses peer-relative PE percentile (idx_pct_pe) where available.

Entry today — historical context

Where BSY and SAP.DE each sit in their own 5-year price and valuation history.

BASED ON 5-YEAR HISTORY BSY Lower · below norm 0th 50th 100th 66 pct gap SAP.DE Neutral · below norm 0th 50th 100th 3rd 69th
Today BSY sits in the lower portion of its own 5-year history (3rd percentile), while SAP.DE sits higher in its own history (69th). Within each stock's own 5-year context, BSY is at a historically more favourable entry position than SAP.DE. This reflects entry timing, not which company is structurally stronger — peer-relative analysis is a separate question addressed above.

Describes historical entry positioning only. Descriptive — not investment advice.

Relative Position vs Comparable Companies
Growth
On growth, SAP SE is positioned higher in the group, while Bentley Systems, Incorporated is closer to the middle.
Profitability
Profitability also leans toward SAP SE, reinforcing the broader structural lead.
Growth — Dominant Gap
BSY
39
SAP.DE
55
Gap+16in favour of SAP.DE

The main growth separation is clear, driven by a meaningfully stronger expansion profile.

What keeps the gap from being one-sided

Bentley Systems, Incorporated still shows lower market-fundamental divergence, which keeps the wider picture mixed rather than completely one-sided.

What this means for the comparison

The result is clear, but it still looks less settled than a mature overall lead.

Explore full peer positioning in AssetNext

Break down the BSY vs SAP.DE comparison across all dimensions with the full interactive tool.

Explore full breakdown →
Similar growth-and-profitability comparisons

Explore how BSY and SAP.DE each compare against other companies in their peer groups.

Rule-based, descriptive analysis only. Derived from peer percentile dimensions. Not investment advice. Peer groups are determined algorithmically based on structural similarity — not by sector classification alone.

How AssetNext Peer Scores Work

AssetNext scores reflect each company's structural position within its functional peer group — not a ranking against all stocks simultaneously. Peers are identified by similarity across eight financial dimensions, including revenue growth trajectory, margin structure, capital intensity, and earnings stability. A score of 75 means the company ranks in the top quartile within its own peer group, not the entire market.

Four dimension scores drive the overall peer score: Growth (revenue trajectory and expansion dynamics), Quality (margin structure and capital efficiency), Valuation (peer-relative pricing on standard multiples), and Stability (earnings consistency and financial predictability). Each dimension is scored 0–100 relative to the peer group, then combined into an overall peer score using equal weighting.

Because scores are peer-relative, the same company can have slightly different scores in different index universes. On comparison pages, both companies are shown within their shared peer universe wherever possible — so the scores are directly comparable. The peer basis is stated on each score card.

Scores are recalculated periodically as underlying financial data is updated. All analysis is descriptive and rule-based — AssetNext describes structural realities and never issues buy, sell or hold recommendations.