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Australian (ASX) Software Industry Analysis

UpdatedMar 10, 2026
DataAggregated Company Financials
Companies68
  • 7D3.0%
  • 3M-27.3%
  • 1Y-34.1%
  • YTD-23.4%

The Software industry is up 3.7% in the last week, with WiseTech Global up 12%. During this same period, the Life360 underperformed, falling 17%. In contrast, the industry has lost 31% in the last 12 months. 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
Tue, 10 Mar 2026AU$57.0bAU$8.6bAU$738.5m23.7x77.2x6.6x
Thu, 05 Feb 2026AU$58.6bAU$8.1bAU$638.5m35.5x91.8x7.3x
Sat, 03 Jan 2026AU$75.1bAU$8.2bAU$653.4m37.5x115x9.2x
Mon, 01 Dec 2025AU$81.5bAU$8.2bAU$662.9m34.8x122.9x9.9x
Wed, 29 Oct 2025AU$92.7bAU$8.1bAU$635.4m36.4x145.9x11.4x
Fri, 26 Sep 2025AU$101.0bAU$8.1bAU$637.2m34.2x158.6x12.5x
Sun, 24 Aug 2025AU$105.4bAU$8.1bAU$661.6m35.1x159.3x13.1x
Tue, 22 Jul 2025AU$106.1bAU$8.0bAU$535.3m72.6x198.1x13.3x
Thu, 19 Jun 2025AU$101.9bAU$8.0bAU$539.2m76.3x189x12.7x
Sat, 17 May 2025AU$94.1bAU$8.0bAU$515.3m91.8x182.6x11.8x
Mon, 14 Apr 2025AU$78.4bAU$7.9bAU$420.4m60.4x186.6x9.9x
Wed, 12 Mar 2025AU$80.9bAU$7.9bAU$416.4m58x194.2x10.2x
Fri, 07 Feb 2025AU$102.7bAU$7.6bAU$280.1m70.3x366.8x13.4x
Sun, 05 Jan 2025AU$98.8bAU$7.7bAU$271.7m68.4x363.8x12.8x
Tue, 03 Dec 2024AU$101.7bAU$7.7bAU$286.4m64.2x355x13.3x
Thu, 31 Oct 2024AU$89.9bAU$7.4bAU$210.1m64x427.6x12.1x
Sat, 28 Sep 2024AU$94.6bAU$7.4bAU$201.9m69x468.5x12.8x
Mon, 26 Aug 2024AU$87.4bAU$7.5bAU$123.3m68.2x708.7x11.7x
Wed, 24 Jul 2024AU$85.0bAU$7.7b-AU$89,361,245.6660.8x-950.9x11.1x
Fri, 21 Jun 2024AU$81.5bAU$7.8b-AU$93,118,669.9962.2x-875.6x10.5x
Sun, 19 May 2024AU$81.1bAU$7.6b-AU$316,667,987.4959.6x-256x10.7x
Tue, 16 Apr 2024AU$77.4bAU$7.6b-AU$368,965,827.8963x-209.9x10.2x
Thu, 14 Mar 2024AU$83.0bAU$7.6b-AU$389,608,146.2960.9x-213.1x10.9x
Sat, 10 Feb 2024AU$68.7bAU$7.6b-AU$769,344,474.3955.6x-89.3x9x
Mon, 08 Jan 2024AU$66.8bAU$8.4b-AU$1,047,458,142.0057.1x-63.7x8x
Wed, 06 Dec 2023AU$64.7bAU$8.4b-AU$1,048,815,808.0058.4x-61.7x7.7x
Fri, 03 Nov 2023AU$62.5bAU$8.2b-AU$1,166,655,910.0055.1x-53.6x7.6x
Sun, 01 Oct 2023AU$65.3bAU$8.1b-AU$1,117,674,984.0058.5x-58.5x8.1x
Tue, 29 Aug 2023AU$69.3bAU$8.0b-AU$1,178,898,996.0061.3x-58.8x8.7x
Thu, 27 Jul 2023AU$73.0bAU$7.7b-AU$888,486,413.0047.5x-82.1x9.5x
Sat, 24 Jun 2023AU$67.7bAU$7.7b-AU$900,098,421.0049.5x-75.3x8.8x
Mon, 22 May 2023AU$65.4bAU$7.7b-AU$945,344,325.0045.3x-69.2x8.5x
Wed, 19 Apr 2023AU$63.8bAU$7.5b-AU$870,819,111.0046.6x-73.2x8.5x
Fri, 17 Mar 2023AU$58.0bAU$7.5b-AU$875,372,220.0046.4x-66.2x7.8x
Price to Earnings Ratio

-66.2x


Total Market Cap: AU$58.0bTotal Earnings: -AU$875,372,220.00Total Revenue: AU$7.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Software Industry Price to Earnings3Y Average 18.3x202420252026
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 80.6x which is higher than its 3-year average PE of 18.3x.
  • The 3-year average PS ratio of 10.3x is higher than the industry's current PS ratio of 6.9x.
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 4.8% 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-6.36%
Tech0.69%
Software2.96%
Application Software3.03%
Systems Software-4.24%
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 24.3%, 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
WTC WiseTech GlobalAU$51.0815.4%
+AU$2.3b		-40.7%PE74.2x
TNE Technology OneAU$27.4410.8%
+AU$871.5m		0.7%PE65.1x
XRO XeroAU$83.726.2%
+AU$826.2m		-47.2%PE63.5x
360 Life360AU$22.5110.6%
+AU$517.3m		7.2%PE25.4x
CAT Catapult SportsAU$3.9018.5%
+AU$184.0m		13.7%PS6.6x

Latest News

NXL
AU$1.81
Nuix
7D
-3.2%
1Y
-47.1%
360
AU$22.51
Life360
7D
10.6%
1Y
7.2%
WTC
AU$51.08
WiseTech Global
7D
15.4%
1Y
-40.7%
EOL
AU$14.50
Energy One
7D
-3.3%
1Y
42.2%
FCL
AU$2.48
FINEOS Corporation Holdings
7D
-4.2%
1Y
44.2%
XRO
AU$83.72
Xero
7D
6.2%
1Y
-47.2%

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.
VNL
AU$0.082
Vinyl Group
7D
-7.9%
1Y
-18.0%
COS
AU$0.23
COSOL
7D
-22.4%
1Y
-72.9%
EIQ
AU$0.72
Echo IQ
7D
14.3%
1Y
157.1%
TNE
AU$27.44
Technology One
7D
10.8%
1Y
0.7%

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.
ACE
AU$1.56
Acusensus
7D
-4.9%
1Y
45.8%
OCL
AU$13.74
Objective
7D
8.1%
1Y
-5.6%
AIM
AU$0.26
Ai-Media Technologies
7D
-15.0%
1Y
-62.8%
JAN
AU$0.17
Janison Education Group
7D
-14.6%
1Y
0%
CAT
AU$3.90
Catapult Sports
7D
18.5%
1Y
13.7%

CAT: Next Generation Performance Platform Will Support Outperformance Over The Coming Year

Analysts have reduced their Catapult Sports fair value estimate from A$6.28 to A$6.10, reflecting slightly softer assumptions on long term profit margins and revenue growth, together with a higher implied future P/E multiple. What's in the News Catapult announced Perch P2, the next generation of its athlete performance ecosystem focused on velocity based training for programming and assessing athlete readiness and training.
SDR
AU$3.51
SiteMinder
7D
8.7%
1Y
-23.4%