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Australian (ASX) IT Industry Analysis

UpdatedApr 22, 2026
DataAggregated Company Financials
Companies19
  • 7D8.2%
  • 3M-1.7%
  • 1Y19.8%
  • YTD1.5%

The IT industry is up 8.2% in the last week, with NEXTDC up 5.5%. This takes the industry's 12 month performance to a gain of 20%. Earnings are forecast to be flat in the coming years.

Industry Valuation and Performance

Has the Australian IT Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 22 Apr 2026AU$14.8bAU$3.0b-AU$124,646,850.3649.4x-119.1x4.9x
Fri, 20 Mar 2026AU$13.8bAU$3.0b-AU$125,160,882.4439.8x-109.9x4.5x
Sun, 15 Feb 2026AU$15.1bAU$2.9b-AU$97,921,026.1039.9x-154.1x5.3x
Tue, 13 Jan 2026AU$14.9bAU$2.9b-AU$99,582,292.9043.1x-149.9x5.2x
Thu, 11 Dec 2025AU$15.4bAU$2.9b-AU$100,150,400.3041.3x-153.4x5.3x
Sat, 08 Nov 2025AU$16.4bAU$2.9b-AU$100,946,603.3041.3x-162.4x5.6x
Mon, 06 Oct 2025AU$17.8bAU$2.9b-AU$100,354,830.8040.9x-177.6x6.2x
Wed, 03 Sep 2025AU$17.3bAU$2.9b-AU$83,259,200.8038.6x-208.1x6x
Fri, 01 Aug 2025AU$15.9bAU$2.8b-AU$88,167,216.0033.6x-180.6x5.6x
Sun, 29 Jun 2025AU$15.4bAU$2.8b-AU$89,783,032.4036.1x-171.9x5.5x
Tue, 27 May 2025AU$14.3bAU$2.8b-AU$89,859,066.6036.1x-159.4x5.1x
Thu, 24 Apr 2025AU$12.4bAU$2.8b-AU$90,337,281.7037.9x-136.8x4.4x
Sat, 22 Mar 2025AU$14.1bAU$2.8b-AU$90,913,540.9039x-155.1x5x
Mon, 17 Feb 2025AU$15.9bAU$2.7b-AU$198,487,831.3078.7x-80.1x5.8x
Wed, 15 Jan 2025AU$15.4bAU$2.6b-AU$192,058,015.8070.9x-79.9x5.8x
Fri, 13 Dec 2024AU$15.9bAU$2.6b-AU$186,876,839.8072.8x-85.1x6.1x
Sun, 10 Nov 2024AU$16.8bAU$2.6b-AU$182,953,949.4066.3x-91.7x6.4x
Tue, 08 Oct 2024AU$17.0bAU$2.6b-AU$175,222,270.0063.4x-97.1x6.6x
Thu, 05 Sep 2024AU$14.9bAU$2.6b-AU$171,047,178.3059x-87.1x5.7x
Sat, 03 Aug 2024AU$16.3bAU$4.4b-AU$219,226,915.6038x-74.5x3.7x
Mon, 01 Jul 2024AU$15.2bAU$4.4b-AU$214,952,455.8037.4x-70.6x3.5x
Wed, 29 May 2024AU$15.2bAU$4.4b-AU$214,976,071.6032.6x-70.8x3.5x
Fri, 26 Apr 2024AU$14.6bAU$4.4b-AU$219,404,034.1040.5x-66.5x3.3x
Sun, 24 Mar 2024AU$15.3bAU$4.4b-AU$219,238,723.5040.8x-69.7x3.5x
Tue, 20 Feb 2024AU$13.5bAU$4.4b-AU$455,263,636.5029x-29.7x3.1x
Thu, 18 Jan 2024AU$12.3bAU$4.4b-AU$457,893,756.0034.9x-26.9x2.8x
Sat, 16 Dec 2023AU$12.1bAU$4.4b-AU$447,983,311.0033.8x-27x2.7x
Mon, 13 Nov 2023AU$11.5bAU$4.5b-AU$468,287,461.0030.3x-24.5x2.5x
Wed, 11 Oct 2023AU$11.7bAU$4.5b-AU$465,338,899.0029.8x-25.2x2.6x
Fri, 08 Sep 2023AU$12.1bAU$4.5b-AU$466,740,339.0022.1x-25.9x2.7x
Sun, 06 Aug 2023AU$12.0bAU$4.3b-AU$458,661,834.0024.9x-26.3x2.8x
Tue, 04 Jul 2023AU$9.6bAU$3.9b-AU$464,666,628.0017.5x-20.8x2.5x
Thu, 01 Jun 2023AU$9.5bAU$3.9b-AU$475,297,287.0018.2x-20x2.4x
Sat, 29 Apr 2023AU$8.3bAU$3.9b-AU$472,007,520.0024x-17.5x2.1x
Price to Earnings Ratio

-17.5x


Total Market Cap: AU$8.3bTotal Earnings: -AU$472,007,520.00Total Revenue: AU$3.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian IT Industry Price to Earnings3Y Average -93.2x202420252026
Current Industry PE
  • Investors are optimistic on the Australian IT industry, and appear confident in long term growth rates.
  • The 3-year average PS ratio of 4.4x is lower than the industry's current PS ratio of 4.9x.
Past Earnings Growth
  • The earnings for companies in the IT industry have improved over the last three years.
  • Meanwhile revenues for these companies have declined 8.0% per year.
  • This means that less sales are being generated overall, but since the cost of doing business is lower, losses have been shrinking.

Industry Trends

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

AU Market0.21%
Tech11.31%
IT8.18%
IT Consulting10.10%
Internet Services and Infrastructure7.89%
Data Processing Services3.50%
Industry PE
  • Investors are most optimistic about the IT Consulting industry which is trading above its 3-year average PE ratio of 33.1x.
    • Analysts are expecting annual earnings growth of 32.3%, which is higher than its past year's earnings growth of 12.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the IT Consulting industry, expecting annual earnings growth of 32% over the next 5 years.
  • This is better than its past earnings growth rate of 12% per year.
  • In contrast, the Internet Services and Infrastructure industry is expected to see its earnings decline by 4.0% 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
NXT NEXTDCAU$14.125.5%
+AU$467.8m		28.4%PS20x
MP1 MegaportAU$8.7722.3%
+AU$283.7m		-11.1%PS6.1x
MAQ Macquarie Technology GroupAU$72.858.8%
+AU$151.8m		29.1%PE56.5x
DTL Data#3AU$7.4410.2%
+AU$107.0m		3.6%PE23.5x
APX AppenAU$1.6919.4%
+AU$73.7m		118.1%PS1.4x

Latest News

NXT
AU$14.12
NEXTDC
7D
5.5%
1Y
28.4%
PPL
AU$0.037
Pureprofile
7D
-2.6%
1Y
5.7%
KYP
AU$0.18
Kinatico
7D
20.0%
1Y
2.9%
DTL
AU$7.44
Data#3
7D
10.2%
1Y
3.6%

DTL: Fully Franked Interim Dividend Will Support Attractive Forward Return Profile

Analysts have kept their A$8.34 price target for Data#3 unchanged, citing only minor tweaks to inputs such as a slightly lower discount rate and a marginally adjusted future P/E assumption. What's in the News Data#3 declared an ordinary fully franked interim dividend of A$0.135 per share for the six months ended December 31, 2025 (Key Developments).
APX
AU$1.69
Appen
7D
19.4%
1Y
118.1%

APX: Upgraded Outlook Will Rely On 2026 Earnings Guidance Delivery

Analysts have lifted Appen's implied fair value target from A$1.27 to A$1.79, reflecting updated views on revenue growth, profit margins, and a lower future P/E multiple in their models. What's in the News Appen issued group earnings guidance for fiscal 2026, giving investors clearer visibility on expected performance (Key Developments).
MP1
AU$8.77
Megaport
7D
22.3%
1Y
-11.1%

MP1: Updated Guidance And WinDC Partnership Will Support Future Earnings Potential

Megaport's analyst price target has been revised higher to A$10.00 from A$10.00, with analysts pointing to updated assumptions around discount rates, revenue growth, profit margins and future P/E as the key drivers behind the change. What's in the News Megaport issued updated consolidated group earnings guidance for fiscal 2026, with expected revenue of $302 million to $317 million for the year (Corporate Guidance).
AI1
AU$0.075
Adisyn
7D
8.7%
1Y
53.1%
SPX
AU$0.0015
Spenda
7D
-25.0%
1Y
-75.0%
WRK
AU$0.12
Wrkr
7D
14.3%
1Y
90.5%
ATA
AU$0.43
Atturra
7D
-4.4%
1Y
-45.3%
FCT
AU$0.003
FirstWave Cloud Technology
7D
-25.0%
1Y
-82.4%
MAQ
AU$72.85
Macquarie Technology Group
7D
8.8%
1Y
29.1%
STH
AU$0.13
StepChange Holdings
7D
-3.8%
1Y
n/a