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Australian (ASX) Software Industry Analysis

UpdatedMar 15, 2026
DataAggregated Company Financials
Companies68
  • 7D-7.5%
  • 3M-27.1%
  • 1Y-33.6%
  • YTD-26.1%

Over the last 7 days, the Software industry has dropped 7.5%, driven by WiseTech Global declining 9.8%. However, the industry is down 34% over the past year. Earnings are forecast to grow by 25% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 15 Mar 2026AU$55.0bAU$8.6bAU$736.0m22.2x74.7x6.4x
Tue, 10 Feb 2026AU$58.1bAU$8.1bAU$637.4m34.6x91.1x7.2x
Thu, 08 Jan 2026AU$73.3bAU$8.2bAU$650.4m36.5x112.7x9x
Sat, 06 Dec 2025AU$79.8bAU$8.2bAU$656.3m34.4x121.5x9.7x
Mon, 03 Nov 2025AU$89.4bAU$8.1bAU$634.7m36.4x140.9x11x
Wed, 01 Oct 2025AU$99.6bAU$8.1bAU$634.9m34.9x156.9x12.3x
Fri, 29 Aug 2025AU$100.7bAU$8.2bAU$649.8m30.5x155x12.3x
Sun, 27 Jul 2025AU$106.9bAU$8.0bAU$545.8m74.1x195.8x13.4x
Tue, 24 Jun 2025AU$100.2bAU$8.0bAU$542.2m74.1x184.8x12.5x
Thu, 22 May 2025AU$96.6bAU$8.0bAU$540.3m95.7x178.7x12x
Sat, 19 Apr 2025AU$78.5bAU$7.9bAU$418.3m61.3x187.7x9.9x
Mon, 17 Mar 2025AU$80.6bAU$7.9bAU$415.5m57.3x194.1x10.2x
Wed, 12 Feb 2025AU$101.9bAU$7.6bAU$279.4m70.1x364.6x13.3x
Fri, 10 Jan 2025AU$99.5bAU$7.7bAU$271.5m69.3x366.6x12.9x
Sun, 08 Dec 2024AU$103.6bAU$7.7bAU$285.2m64.5x363.3x13.5x
Tue, 05 Nov 2024AU$92.2bAU$7.4bAU$210.1m64.7x438.7x12.5x
Thu, 03 Oct 2024AU$95.9bAU$7.4bAU$202.6m71.2x473.2x13x
Sat, 31 Aug 2024AU$86.6bAU$7.5bAU$188.1m68x460.4x11.5x
Mon, 29 Jul 2024AU$83.5bAU$7.7b-AU$90,291,224.9560.6x-925.2x10.9x
Wed, 26 Jun 2024AU$82.9bAU$7.8b-AU$92,834,299.9862.8x-893x10.7x
Fri, 24 May 2024AU$84.4bAU$7.8b-AU$97,442,941.0461.6x-866.6x10.9x
Sun, 21 Apr 2024AU$76.4bAU$7.6b-AU$369,339,416.3363.2x-206.9x10x
Tue, 19 Mar 2024AU$81.8bAU$7.6b-AU$389,559,551.5361.7x-210x10.7x
Thu, 15 Feb 2024AU$68.0bAU$7.6b-AU$767,845,244.7956x-88.6x8.9x
Sat, 13 Jan 2024AU$68.5bAU$8.4b-AU$1,047,848,242.0059.6x-65.3x8.2x
Mon, 11 Dec 2023AU$65.4bAU$8.4b-AU$1,048,232,749.0060.4x-62.3x7.8x
Wed, 08 Nov 2023AU$64.1bAU$8.2b-AU$1,167,709,794.0054.5x-54.9x7.8x
Fri, 06 Oct 2023AU$65.2bAU$8.1b-AU$1,112,011,516.0057.2x-58.6x8x
Sun, 03 Sep 2023AU$70.3bAU$8.1b-AU$1,106,793,792.0063.3x-63.5x8.7x
Tue, 01 Aug 2023AU$74.3bAU$7.7b-AU$889,874,930.0052.7x-83.5x9.6x
Thu, 29 Jun 2023AU$67.9bAU$7.7b-AU$901,861,444.0046.9x-75.3x8.8x
Sat, 27 May 2023AU$67.8bAU$7.7b-AU$938,084,830.0044.4x-72.2x8.8x
Mon, 24 Apr 2023AU$61.9bAU$7.5b-AU$871,787,386.0047.3x-71x8.3x
Wed, 22 Mar 2023AU$57.8bAU$7.5b-AU$871,428,053.0045.5x-66.4x7.7x
Price to Earnings Ratio

-66.4x


Total Market Cap: AU$57.8bTotal Earnings: -AU$871,428,053.00Total Revenue: AU$7.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Software Industry Price to Earnings3Y Average 18.9x202420252026
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 74.7x which is higher than its 3-year average PE of 18.9x.
  • The 3-year average PS ratio of 10.3x is higher than the industry's current PS ratio of 6.4x.
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 Market-2.66%
Tech-6.17%
Software-7.49%
Systems Software3.55%
Application Software-7.59%
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 24.2%, 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 86% over the next 5 years.
  • In contrast, the Application Software industry is expected to see its earnings grow by 24% 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
QOR QoriaAU$0.344.6%
+AU$20.5m		-15.0%PS3.5x
ESK EtherstackAU$0.569.9%
+AU$7.1m		91.4%PS5.4x
RDY ReadyTech HoldingsAU$1.282.8%
+AU$4.3m		-52.4%PE128.6x
IOV Ion VideoAU$0.2812.0%
+AU$2.8m		180.0%PS39.4x
3DP PointerraAU$0.0388.6%
+AU$2.5m		-49.3%PS5x

Latest News

CAT
AU$3.37
Catapult Sports
7D
-15.5%
1Y
-3.4%

CAT: Next Generation Performance Platform Will Support Future Outperformance Despite Minor Assumption Shifts

Analysts have trimmed their price target for Catapult Sports to reflect slightly lower fair value and profitability assumptions, along with a modestly higher discount rate and future P/E. This has resulted in a small recalibration of expectations in A$ terms.
RDY
AU$1.28
ReadyTech Holdings
7D
2.8%
1Y
-52.4%

RDY: Higher Discount Rate Will Still Support Positive Long Term Upside

Analysts have adjusted their view on ReadyTech Holdings, cutting their implied fair value from A$3.05 to A$2.13 as they factor in a higher discount rate, more moderate revenue growth, slightly lower profit margins and a reduced future P/E multiple. What's in the News ReadyTech Holdings issued earnings guidance for fiscal year 2026, projecting revenue in the range of A$125 million to A$127 million (Key Developments).
BVS
AU$2.00
Bravura Solutions
7D
-8.3%
1Y
-10.3%

BVS: Higher Earnings Visibility And Margins May Support Future Share Rebound

Analysts have raised their Bravura Solutions price target from A$3.40 to A$3.66, citing updated assumptions around revenue trends, margins and future P/E that they believe better align the valuation with the company’s earnings profile. Analyst Commentary Bullish analysts point to the revised A$3.66 price target as a reflection of updated views on Bravura Solutions' revenue trends, margins and P/E alignment with its current earnings profile.
QOR
AU$0.34
Qoria
7D
4.6%
1Y
-15.0%
360
AU$19.78
Life360
7D
-9.6%
1Y
-5.8%

360: Index Addition And Ride Partnership Will Support Future Upside

Analysts have reduced their Life360 price target from A$42.13 to A$38.46, reflecting updated views on growth, margins and the price-to-earnings ratio they are prepared to apply to the stock. What's in the News Life360 issued revenue guidance for fiscal 2026, with expected consolidated revenue of $640 million to $680 million, including subscription revenue of $460 million to $470 million, other revenue of $140 million to $160 million, and hardware revenue of $40 million to $50 million (Corporate Guidance).
IRE
AU$6.90
Iress
7D
-8.6%
1Y
-14.9%
WTC
AU$47.57
WiseTech Global
7D
-9.8%
1Y
-44.0%
XRO
AU$80.53
Xero
7D
-8.1%
1Y
-48.8%

XRO: Reset Expectations And AI Expansion Will Support Future Upside

Analysts have trimmed their Xero price target to about A$155 from roughly A$182, reflecting updated views on fair value, discount rate, growth, margins and future P/E that also supported a recent upgrade in Street research. Analyst Commentary Recent Street commentary around Xero has focused on how the trimmed A$155 price target lines up with updated views on valuation, growth and execution, alongside the upgrade in formal research coverage.
HTG
AU$0.013
Harvest Technology Group
7D
18.2%
1Y
-7.1%
WHK
AU$0.007
WhiteHawk
7D
16.7%
1Y
-12.5%
TNE
AU$26.44
Technology One
7D
-3.3%
1Y
-5.2%

TNE: Higher Growth Assumptions And Margins Will Support Future Upside

Analysts have trimmed their price target on Technology One to A$32.23 from A$34.87. This reflects updated assumptions around a slightly higher discount rate, modestly stronger revenue growth at 14.47%, a marginally higher profit margin of 25.71%, and a lower future P/E of 57.47x.
IOV
AU$0.28
Ion Video
7D
12.0%
1Y
180.0%
IS3
AU$0.008
I Synergy Group
7D
14.3%
1Y
100.0%
3DP
AU$0.038
Pointerra
7D
8.6%
1Y
-49.3%
SDR
AU$3.19
SiteMinder
7D
-10.1%
1Y
-30.7%
ESK
AU$0.56
Etherstack
7D
9.9%
1Y
91.4%