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Australian (ASX) Software Industry Analysis

UpdatedApr 03, 2026
DataAggregated Company Financials
Companies69
  • 7D-0.8%
  • 3M-32.8%
  • 1Y-37.6%
  • YTD-32.8%

The Software industry has stayed flat over the last week. As for the longer term, the industry has declined 38% in the last year. Looking forward, earnings are forecast to grow by 24% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 03 Apr 2026AU$50.0bAU$8.6bAU$744.3m21.2x67.2x5.8x
Sun, 01 Mar 2026AU$57.1bAU$8.4bAU$592.0m32.1x96.5x6.8x
Tue, 27 Jan 2026AU$70.5bAU$8.1bAU$644.2m32.6x109.4x8.7x
Thu, 25 Dec 2025AU$75.6bAU$8.2bAU$654.6m37.8x115.5x9.2x
Sat, 22 Nov 2025AU$76.5bAU$8.4bAU$678.9m36.7x112.7x9.1x
Mon, 20 Oct 2025AU$95.3bAU$8.1bAU$638.5m35.2x149.2x11.7x
Wed, 17 Sep 2025AU$100.7bAU$8.1bAU$636.9m34.2x158.2x12.4x
Fri, 15 Aug 2025AU$105.2bAU$8.1bAU$577.2m76.3x182.2x13x
Sun, 13 Jul 2025AU$101.2bAU$8.0bAU$534.5m53.8x189.4x12.7x
Tue, 10 Jun 2025AU$100.8bAU$8.0bAU$538.2m78.7x187.4x12.6x
Thu, 08 May 2025AU$85.9bAU$7.8bAU$481.1m67.8x178.6x11.1x
Sat, 05 Apr 2025AU$73.1bAU$8.0bAU$425.0m57.2x172x9.2x
Mon, 03 Mar 2025AU$85.8bAU$7.9bAU$401.5m59.5x213.6x10.9x
Wed, 29 Jan 2025AU$97.8bAU$7.6bAU$288.2m68.3x339.4x12.8x
Fri, 27 Dec 2024AU$98.4bAU$7.7bAU$272.3m67.8x361.1x12.8x
Sun, 24 Nov 2024AU$97.5bAU$7.6bAU$275.8m64x353.3x12.8x
Tue, 22 Oct 2024AU$86.3bAU$7.4bAU$211.5m63.8x407.9x11.7x
Thu, 19 Sep 2024AU$91.9bAU$7.4bAU$200.1m67.8x459.2x12.4x
Sat, 17 Aug 2024AU$77.4bAU$7.3b-AU$105,560,357.6961.7x-733.2x10.6x
Mon, 15 Jul 2024AU$85.3bAU$7.7b-AU$96,156,112.8761.7x-887.1x11x
Wed, 12 Jun 2024AU$83.5bAU$7.8b-AU$91,595,839.2359.8x-911.3x10.7x
Fri, 10 May 2024AU$81.4bAU$7.6b-AU$323,098,107.3062.3x-251.9x10.7x
Sun, 07 Apr 2024AU$78.2bAU$7.6b-AU$384,092,725.0061.5x-203.7x10.3x
Tue, 05 Mar 2024AU$82.0bAU$7.7b-AU$441,256,817.1461.7x-185.7x10.6x
Thu, 01 Feb 2024AU$69.5bAU$8.4b-AU$1,048,437,301.0060.4x-66.3x8.3x
Sat, 30 Dec 2023AU$70.1bAU$8.4b-AU$1,047,058,271.0059.9x-66.9x8.4x
Mon, 27 Nov 2023AU$62.8bAU$8.4b-AU$1,049,904,570.0057.9x-59.8x7.5x
Wed, 25 Oct 2023AU$61.9bAU$8.1b-AU$1,118,907,575.0055.1x-55.3x7.7x
Fri, 22 Sep 2023AU$66.8bAU$8.1b-AU$1,117,552,647.0060.7x-59.8x8.3x
Sun, 20 Aug 2023AU$71.8bAU$7.8b-AU$841,835,919.0049.3x-85.3x9.2x
Tue, 18 Jul 2023AU$72.5bAU$7.7b-AU$889,201,543.0048x-81.5x9.4x
Thu, 15 Jun 2023AU$68.7bAU$7.7b-AU$893,780,227.0049.3x-76.9x8.9x
Sat, 13 May 2023AU$63.0bAU$7.5b-AU$877,520,590.0047x-71.8x8.4x
Mon, 10 Apr 2023AU$60.8bAU$7.5b-AU$873,044,541.0043.8x-69.7x8.1x
Price to Earnings Ratio

-69.7x


Total Market Cap: AU$60.8bTotal Earnings: -AU$873,044,541.00Total Revenue: AU$7.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Software Industry Price to Earnings3Y Average 21.3x202420252026
Current Industry PE
  • Investors are optimistic on the Australian Software industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 67.2x which is higher than its 3-year average PE of 21.3x.
  • The 3-year average PS ratio of 10.3x is higher than the industry's current PS ratio of 5.8x.
Past Earnings Growth
  • Total earnings for the Software industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 4.4% per year.
  • This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Trends

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

AU Market0.42%
Tech-2.73%
Software-0.80%
Systems Software4.18%
Application Software-0.85%
Industry PE
  • Investors are most optimistic about the Application Software industry even though it's trading below its 3-year average PE ratio of 2kx.
    • Analysts are expecting annual earnings growth of 23.2%, which is higher than its past year's earnings growth of 16.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Systems Software industry, expecting annual earnings growth of 65% over the next 5 years.
  • In contrast, the Application Software industry is expected to see its earnings grow by 23% 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
XRO XeroAU$74.061.7%
+AU$208.1m		-49.1%PE57.1x
QOR QoriaAU$0.295.4%
+AU$20.5m		-18.1%PS3.1x
ROC RocketBootsAU$0.3415.0%
+AU$9.4m		228.6%PS175.6x
AV1 AdveritasAU$0.09611.6%
+AU$9.3m		23.1%PS9.3x
ESK EtherstackAU$0.6511.1%
+AU$9.2m		140.7%PS6.3x

Latest News

IRE
AU$6.80
Iress
7D
-2.0%
1Y
-8.7%
TNE
AU$26.91
Technology One
7D
-1.4%
1Y
6.2%

TNE: Index Removals Will Present Long Term Margin Upside Opportunity

Analysts have trimmed their price target on Technology One from A$40.32 to A$38.70. This reflects slightly different assumptions around discount rates, revenue growth, profit margins and future P/E multiples, while maintaining a broadly similar view on the company.
CAT
AU$3.22
Catapult Sports
7D
-5.6%
1Y
-0.3%
ESK
AU$0.65
Etherstack
7D
11.1%
1Y
140.7%
PPS
AU$0.67
Praemium
7D
2.3%
1Y
0%
EIQ
AU$0.86
Echo IQ
7D
-8.0%
1Y
220.4%
NXL
AU$1.20
Nuix
7D
-2.8%
1Y
-55.7%

NXL: Upgraded Rating Will Rely On Execution Of Neo Migration Strategy

Analysts have lifted their price target for Nuix to A$2.30 from A$2.15, citing the recent upgrade to Outperform and confidence in management's execution on the Neo migration strategy to support net dollar retention and Annual Contract Value growth. Analyst Commentary Bullish analysts point to the recent upgrade to Outperform and the lift in the price target to A$2.30 as a sign of growing confidence in Nuix's current trajectory.
HSN
AU$4.80
Hansen Technologies
7D
-3.6%
1Y
0.2%

HSN: Fair Pricing Will Reflect 2026 Second Half Revenue Expectations

Analysts have made a modest adjustment to their price target for Hansen Technologies, keeping fair value around A$5.30 as they factor in slightly updated assumptions for the discount rate, revenue growth, profit margin and future P/E multiples. What's in the News Hansen Technologies issued new earnings guidance for the second half of 2026, giving you a clearer view of management expectations for that period (Key Developments).
WTC
AU$37.88
WiseTech Global
7D
-1.3%
1Y
-49.4%
360
AU$18.70
Life360
7D
-3.1%
1Y
3.8%

360: Index Inclusion And Expanded Partnerships Will Support Further Upside

Analysts have trimmed their Life360 price target from A$29.75 to A$25.00 as updated assumptions around discount rates, revenue growth, profit margins, and future P/E multiples filter through their models. What's in the News Life360, Inc.
XRO
AU$74.06
Xero
7D
1.7%
1Y
-49.1%
IOD
AU$0.12
IODM
7D
9.1%
1Y
-33.3%
QOR
AU$0.29
Qoria
7D
5.4%
1Y
-18.1%
COS
AU$0.23
COSOL
7D
17.5%
1Y
-70.1%
AV1
AU$0.096
Adveritas
7D
11.6%
1Y
23.1%
ROC
AU$0.34
RocketBoots
7D
15.0%
1Y
228.6%