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Australian (ASX) Tech Sector Analysis

UpdatedJun 05, 2026
DataAggregated Company Financials
Companies109
  • 7D8.2%
  • 3M2.7%
  • 1Y-30.4%
  • YTD-11.4%

In the last week, the Tech industry is up 8.5%, with WiseTech Global leading the way with a 10% gain. In contrast, the industry has lost 29% in the last 12 months. Earnings are forecast to grow by 19% annually.

Sector Valuation and Performance

Has the Australian Tech Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 05 Jun 2026AU$89.4bAU$15.7bAU$460.2m27.7x194.2x5.7x
Sun, 03 May 2026AU$82.4bAU$15.2bAU$556.2m25.6x148.1x5.4x
Tue, 31 Mar 2026AU$71.0bAU$15.4bAU$570.4m23x124.5x4.6x
Thu, 26 Feb 2026AU$79.9bAU$14.5bAU$495.9m33.6x161.1x5.5x
Sat, 24 Jan 2026AU$98.3bAU$14.5bAU$502.2m42.9x195.8x6.8x
Mon, 22 Dec 2025AU$100.4bAU$14.6bAU$509.9m42.7x196.9x6.9x
Wed, 19 Nov 2025AU$100.0bAU$14.8bAU$524.9m38.3x190.5x6.8x
Fri, 17 Oct 2025AU$124.9bAU$14.5bAU$486.5m38x256.8x8.6x
Sun, 14 Sep 2025AU$127.5bAU$14.5bAU$507.5m38x251.2x8.8x
Tue, 12 Aug 2025AU$130.2bAU$14.1bAU$385.7m44x337.5x9.3x
Thu, 10 Jul 2025AU$124.2bAU$14.0bAU$372.0m38.1x333.9x8.9x
Sat, 07 Jun 2025AU$122.1bAU$14.0bAU$375.0m39.6x325.6x8.7x
Mon, 05 May 2025AU$107.7bAU$13.8bAU$316.1m43.7x340.7x7.8x
Wed, 02 Apr 2025AU$98.7bAU$14.0bAU$247.3m34.9x399.1x7.1x
Fri, 28 Feb 2025AU$110.0bAU$13.8bAU$215.0m37.4x511.3x8x
Sun, 26 Jan 2025AU$120.7bAU$13.5bAU$72.3m59.7x1669x9x
Tue, 24 Dec 2024AU$120.3bAU$13.6bAU$43.2m60.4x2787.9x8.9x
Thu, 21 Nov 2024AU$126.5bAU$13.5bAU$61.2m63.1x2067.2x9.4x
Sat, 19 Oct 2024AU$114.8bAU$13.2bAU$3.5m64x32388.1x8.7x
Mon, 16 Sep 2024AU$112.9bAU$13.2b-AU$726,748.9063.9x-155408.5x8.5x
Wed, 14 Aug 2024AU$96.8bAU$14.9b-AU$446,670,535.0945.8x-216.8x6.5x
Fri, 12 Jul 2024AU$108.8bAU$15.3b-AU$330,849,642.1748.8x-328.8x7.1x
Sun, 09 Jun 2024AU$105.2bAU$15.4b-AU$333,179,005.2252x-315.8x6.8x
Tue, 07 May 2024AU$102.6bAU$15.2b-AU$574,965,250.7855.2x-178.4x6.8x
Thu, 04 Apr 2024AU$100.4bAU$15.3b-AU$662,634,815.1851.9x-151.5x6.6x
Sat, 02 Mar 2024AU$103.9bAU$16.3b-AU$722,867,365.9651.4x-143.7x6.4x
Mon, 29 Jan 2024AU$89.0bAU$17.1b-AU$1,603,931,225.0041.3x-55.5x5.2x
Wed, 27 Dec 2023AU$87.8bAU$17.1b-AU$1,586,515,419.0041.1x-55.3x5.1x
Fri, 24 Nov 2023AU$82.4bAU$17.1b-AU$1,614,073,626.0040.9x-51.1x4.8x
Sun, 22 Oct 2023AU$80.4bAU$17.0b-AU$1,744,737,335.0040.7x-46.1x4.7x
Tue, 19 Sep 2023AU$86.4bAU$17.0b-AU$1,728,300,124.0042.7x-50x5.1x
Thu, 17 Aug 2023AU$91.2bAU$16.4b-AU$1,490,295,946.0034.3x-61.2x5.6x
Sat, 15 Jul 2023AU$88.5bAU$15.9b-AU$1,498,916,037.0030.9x-59x5.6x
Mon, 12 Jun 2023AU$84.2bAU$15.9b-AU$1,538,343,415.0026.6x-54.8x5.3x
Price to Earnings Ratio

-54.8x


Total Market Cap: AU$84.2bTotal Earnings: -AU$1,538,343,415.00Total Revenue: AU$15.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Tech Sector Price to Earnings3Y Average -309x202420252026
Current Industry PE
  • Investors are optimistic on the Australian Information Technology industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 198x which is higher than its 3-year average PE of -309x.
  • The 3-year average PS ratio of 7.0x is higher than the industry's current PS ratio of 5.8x.
Past Earnings Growth
  • Total earnings for the Information Technology industry have gone up over the last three years, and the industry is now profitable.
  • Revenues have remained mostly flat. This means that the industry has become more efficient since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the Australian Tech sector?

AU Market1.08%
Tech8.23%
Communications15.11%
IT8.93%
Software8.74%
Electronic Equipment and Components6.22%
Tech Hardware0%0
Semiconductors-0.13%
Industry PE
  • Investors are most optimistic about the Electronic Equipment and Components industry which is trading above its 3-year average PE ratio of 138x.
    • Analysts are expecting annual earnings growth of 20.2%, which is lower than the prior year's growth of 26.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Communications industry, expecting annual earnings growth of 119% over the next 5 years.
  • In contrast, the IT industry is expected to see its earnings decline by 3.0% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
WTC WiseTech GlobalAU$39.8110.6%
+AU$1.3b		-62.3%PE58.3x
TNE Technology OneAU$32.338.3%
+AU$812.8m		-23.9%PE74.6x
XRO XeroAU$79.275.5%
+AU$699.3m		-58.0%PE98.2x
360 Life360AU$22.0013.8%
+AU$649.1m		-33.8%PE25.6x
MP1 MegaportAU$18.4819.1%
+AU$524.9m		34.4%PS12.8x

Latest News

MP1
AU$18.48
Megaport
7D
19.1%
1Y
34.4%
DDR
AU$11.16
Dicker Data
7D
7.7%
1Y
37.8%
XRO
AU$79.27
Xero
7D
5.5%
1Y
-58.0%
Narrative Update • Jun 03

XRO: AI And Melio Integration Will Support Stronger Future Returns

Analysts have trimmed their Xero price target from A$230.38 to A$203.09 as they factor in adjusted assumptions around discount rates, revenue growth, profit margins, and future P/E expectations. What's in the News Xero reported FY26 operating revenue of about $2.75b to $2.8b, with US performance supported by the Melio acquisition and contributing to a very large uplift in US revenue and more than 110,000 new US customers.
DUG
AU$2.30
DUG Technology
7D
-3.8%
1Y
68.5%
Narrative Update • Jun 03

DUG: Higher P/E Assumptions And Softer Margins Will Define Fair Outlook

Analysts have nudged their price target for DUG Technology slightly higher to A$2.43 from A$2.42, reflecting updated assumptions for the discount rate, revenue growth, profit margins and future P/E multiples. What's in the News No recent company specific news items for DUG Technology are available from the provided sources.
ITS
AU$0.34
Infotrust
7D
-16.0%
1Y
-20.0%
WTC
AU$39.81
WiseTech Global
7D
10.6%
1Y
-62.3%
360
AU$22.00
Life360
7D
13.8%
1Y
-33.8%
Narrative Update • Jun 02

360: Record User Scale And Index Inclusion Will Support Bullish Repricing

Analysts have revised their A$ price target on Life360 from A$53.00 to A$39.00. This change reflects updated assumptions around slightly lower revenue growth, a higher discount rate, improved profit margin expectations, and a reduced future P/E multiple.
CDA
AU$43.70
Codan
7D
2.5%
1Y
139.5%
Narrative Update • Jun 01

CDA: Defence Tech Acquisition Will Test Unmanned Execution And Premium Multiple

Analysts have lifted their Codan price target from A$24.97 to A$30.02. They cite updated assumptions for revenue growth, profit margins and future P/E that they see as better reflecting the stock's risk profile and cash flow outlook under a slightly higher discount rate.
TNE
AU$32.33
Technology One
7D
8.3%
1Y
-23.9%
EIQ
AU$1.29
Echo IQ
7D
-4.4%
1Y
473.3%
NXT
AU$15.86
NEXTDC
7D
4.1%
1Y
20.3%
ACE
AU$1.19
Acusensus
7D
-10.5%
1Y
35.2%
NVX
AU$0.24
NOVONIX
7D
-5.9%
1Y
-42.9%
QOR
AU$0.27
Qoria
7D
-10.0%
1Y
-37.2%
VNL
AU$0.06
Vinyl Group
7D
-10.4%
1Y
-53.8%
FCL
AU$2.37
FINEOS Corporation Holdings
7D
-7.8%
1Y
12.9%