Global Software Undervalued over 20% based on DCF

Microsoft

Market Cap: US$2.9t

Develops and supports software, services, devices, and solutions worldwide.

AppLovin

Market Cap: US$177.4b

Provides end-to-end artificial intelligence-powered advertising solutions for businesses in the United States and internationally.

Salesforce

Market Cap: US$138.8b

Provides customer relationship management technology services that connect companies and customers together in the United States, Europe, and the Asia Pacific.

Autodesk

Market Cap: US$44.8b

Engages in the provision of 3D design, engineering, and entertainment technology solutions worldwide.

Roper Technologies

Market Cap: US$36.7b

Designs and develops vertical software and technology enabled products in the United States, Canada, Europe, Asia, and internationally.

Fujitsu

Market Cap: JP¥5.8t

Provides digital services in Japan, Europe, the United States, the Asia Pacific, East Asia, and internationally.

Strategy

Market Cap: US$34.2b

Operates as a bitcoin treasury company in the United States, Europe, the Middle East, Africa, and internationally.

Dassault Systèmes

Market Cap: €23.7b

Provides software solutions and services worldwide.

Zoom Communications

Market Cap: US$25.1b

Provides an Artificial Intelligence-first open work platform for human connection in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.

Zscaler

Market Cap: US$24.2b

Operates as a cloud security company worldwide.

Gen Digital

Market Cap: US$16.1b

Engages in the provision of cyber safety and trust-based solutions for individuals, families, and small businesses.

Beijing Kingsoft Office Software

Market Cap: CN¥101.1b

Provides office software products and services in China and internationally.

Nutanix

Market Cap: US$14.5b

Provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa.

iFLYTEKLTD

Market Cap: CN¥98.3b

Provides intelligent speech and technology solutions and services in China and internationally.

DigitalOcean Holdings

Market Cap: US$14.3b

Through its subsidiaries, operates an agentic inference cloud platform in North America, Europe, Asia, and internationally.

Tyler Technologies

Market Cap: US$13.6b

Provides integrated software and technology management solutions for the public sector in the United States.

Dynatrace

Market Cap: US$13.1b

Engages in the advancement of observability for digital businesses, which transforms the complexity of modern digital ecosystems in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America.

Trimble

Market Cap: US$12.5b

Offers technology solutions and platform that enable office professionals and field workers to connect workflows and industry lifecycles in North America, Europe, the Asia Pacific, and internationally.

Guidewire Software

Market Cap: US$11.4b

Provides a platform for property and casualty (P&C) insurers worldwide.

Bentley Systems

Market Cap: US$10.2b

Provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific.

Sage Group

Market Cap: UK£7.3b

Offers technology solutions and services for small and medium businesses in North America, Europe, the United Kingdom, Ireland, Africa and Asia-Pacific.

Manhattan Associates

Market Cap: US$9.4b

Develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations.

Xero

Market Cap: AU$12.6b

Provides online business solutions for small businesses and their advisors in Australia, New Zealand, the United Kingdom, the United States, and internationally.

WiseTech Global

Market Cap: AU$11.6b

Engages in the development and provision of software solutions to the logistics execution industry in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.

ServiceTitan

Market Cap: US$7.6b

Provides an end-to-end cloud-based software platform in the United States, Armenia, and Canada.

Clear Secure

Market Cap: US$7.5b

Operates a secure identity platform under the CLEAR brand name primarily in the United States.

Nemetschek

Market Cap: €6.5b

Provides software solutions for architecture, engineering, construction, operation, and media industries in Germany, the rest of Europe, the Americas, the Asia Pacific, and internationally.

Otsuka

Market Cap: JP¥1.1t

Provides information services in Japan.

Procore Technologies

Market Cap: US$6.7b

Provides a cloud-based construction management platform and related products and services in the United States and internationally.

Dropbox

Market Cap: US$6.7b

Provides a content collaboration platform in the United States and internationally.

Commvault Systems

Market Cap: US$6.4b

Provides cyber resiliency solutions for enterprises to protect, secure, and recover data, applications, and identity system.

AppFolio

Market Cap: US$6.3b

Provides cloud-based platform for the real estate industry in the United States.

SentinelOne

Market Cap: US$6.2b

Operates as a cybersecurity provider in the United States and internationally.

Descartes Systems Group

Market Cap: CA$8.8b

Provides global logistics technology solutions in the United States, Europe, the Middle East, Africa, Canada, and the Asia Pacific.

Elastic

Market Cap: US$6.2b

A search artificial intelligence (AI) company, provides software platforms to run in hybrid, public or private clouds, and multi-cloud environments in the United States and internationally.

UiPath

Market Cap: US$6.0b

Provides an automation platform that offers a range of robotic process automation (RPA) solutions primarily in the United States, Romania, the United Kingdom, the Netherlands, and internationally.