Integrating bike-sharing programs with public transport enhances accessibility and car-independent mobility, yet a comprehensive societal cost-benefit analysis of this integration remains scarce. This study addresses this gap by conducting an ex-durante analysis of the OV-fiets program in the Netherlands, a station-based round-trip bike-sharing system designed to improve last-mile connectivity for train commuters. The analysis reveals that in the average (balanced) scenario, the net present value (NPV) of the OV-fiets scheme is positive, with a benefit-cost ratio (BCR) of 1.5. This indicates that the scheme has benefited the Dutch society over the 20-year period (2004–2023). In the pessimistic scenario, the NPV remains slightly positive with a BCR of 1.1. This implies that even under the least favourable conditions, where high costs and low benefits are assumed, the scheme still slightly exceeds the break-even point. Conversely, in the optimistic scenario, the BCR rises significantly to 2.4. Primary benefits include enhanced accessibility, reduced road congestion, and improved health outcomes. This research underscores the considerable societal value of the OV-fiets program in the Netherlands, warranting continued investment in the program and emphasising the need for ongoing bicycle safety measures and infrastructure improvements. However, OV-fiets might be successful in the Netherlands; our analysis also shows that copying it into other contexts is not straightforward. The seamless integration of bikes with trains is crucial, and the operators should be able and willing to accept operational losses.