Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
Decision snapshot: IRDM stock price vs BSY: inconclusive Relative valuation is incomplete for this pair. Review the available filing metrics before drawing a conclusion.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at BSY's multiple
Needs BSY P/E.
Implied fair value · at IRDM's multiple
Needs IRDM P/E.
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth lag
Pricing power
Operating leverage
Multiple discount
Not comparable
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: IRDM FY 2025 (ended Dec 31, 2025) · BSY FY 2025 (ended Dec 31, 2025).
Trendline
Six fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Market cap plus debt, less cash.
Capital structure 74% equity / 26% debt · EV / Revenue 7.65x · EV / EBITDA 14.50x
Capital structure 89% equity / 11% debt · EV / Revenue 7.76x · EV / EBITDA 29.20x
BSY carries the larger enterprise value at $11.65B against $6.67B; IRDM trades on the lower EV / Revenue multiple (7.65x vs 7.76x); IRDM on the lower EV / EBITDA (14.50x vs 29.20x).
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
Iridium Communications Inc. · implied price per share
Bear
$18.25
Base
$24.19
Bull
$31.93
BENTLEY SYSTEMS, INCORPORATED · implied price per share
Debt and bridge-cash inputs are required to translate enterprise value into equity value.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Debt / equity
Total debt against shareholders' equity
3.81x
1.05x
Net debt / EBITDA
Leverage against operating earnings
3.62x
2.82x
Cash and equivalents
Liquid reserves on the balance sheet
$96.50M
$123.28M
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
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Edwyn research
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