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Australian (ASX) Software Industry Analysis

UpdatedMar 29, 2026
DataAggregated Company Financials
Companies70
  • 7D-3.2%
  • 3M-32.8%
  • 1Y-38.0%
  • YTD-32.3%

Over the last 7 days, the Software industry has dropped 3.2%, driven by a pullback from WiseTech Global of 10%. In contrast, Life360 has gained 6.7%. However, the industry is down 38% over the past year. As for the next few years, earnings are expected to grow by 24% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 29 Mar 2026AU$50.4bAU$8.6bAU$743.1m21.1x67.9x5.9x
Tue, 24 Feb 2026AU$53.0bAU$8.0bAU$620.9m25.7x85.3x6.6x
Thu, 22 Jan 2026AU$67.7bAU$8.2bAU$651.9m33.3x103.9x8.3x
Sat, 20 Dec 2025AU$76.4bAU$8.2bAU$659.0m37.8x115.9x9.3x
Mon, 17 Nov 2025AU$79.2bAU$8.3bAU$671.4m38.1x118x9.5x
Wed, 15 Oct 2025AU$98.1bAU$8.1bAU$641.1m34.7x153x12x
Fri, 12 Sep 2025AU$99.6bAU$8.1bAU$638.6m34.1x155.9x12.3x
Sun, 10 Aug 2025AU$106.4bAU$8.0bAU$547.5m75.6x194.3x13.3x
Tue, 08 Jul 2025AU$102.7bAU$8.0bAU$537.6m75.7x191x12.8x
Thu, 05 Jun 2025AU$101.0bAU$8.0bAU$539.8m79.7x187.1x12.6x
Sat, 03 May 2025AU$87.7bAU$7.8bAU$482.5m67.9x181.9x11.3x
Mon, 31 Mar 2025AU$79.2bAU$7.9bAU$416.9m61.6x190.1x10x
Wed, 26 Feb 2025AU$90.3bAU$7.7bAU$379.1m48.9x238.2x11.8x
Fri, 24 Jan 2025AU$98.4bAU$7.6bAU$288.1m70.4x341.4x12.9x
Sun, 22 Dec 2024AU$96.6bAU$7.7bAU$268.5m68.4x359.6x12.5x
Tue, 19 Nov 2024AU$100.5bAU$7.6bAU$268.6m63.8x374.1x13.2x
Thu, 17 Oct 2024AU$94.5bAU$7.4bAU$211.8m65.8x446.3x12.8x
Sat, 14 Sep 2024AU$90.4bAU$7.4bAU$199.4m66.5x453.1x12.1x
Mon, 12 Aug 2024AU$73.8bAU$7.3b-AU$206,777,324.9360.2x-356.8x10.1x
Wed, 10 Jul 2024AU$84.6bAU$7.7b-AU$95,013,077.5358.2x-890.1x10.9x
Fri, 07 Jun 2024AU$83.5bAU$7.8b-AU$82,097,334.6962.8x-1016.7x10.7x
Sun, 05 May 2024AU$79.9bAU$7.6b-AU$322,886,593.9563.8x-247.4x10.6x
Tue, 02 Apr 2024AU$81.5bAU$7.6b-AU$387,839,811.5563x-210.1x10.7x
Thu, 29 Feb 2024AU$78.9bAU$7.7b-AU$477,883,230.1556.8x-165.1x10.2x
Sat, 27 Jan 2024AU$69.7bAU$8.4b-AU$1,048,353,753.0060.7x-66.5x8.3x
Mon, 25 Dec 2023AU$68.8bAU$8.4b-AU$1,046,713,887.0060.7x-65.8x8.2x
Wed, 22 Nov 2023AU$64.4bAU$8.4b-AU$1,057,547,168.0057.3x-60.9x7.7x
Fri, 20 Oct 2023AU$63.2bAU$8.1b-AU$1,119,403,421.0058.2x-56.5x7.8x
Sun, 17 Sep 2023AU$69.5bAU$8.1b-AU$1,116,615,884.0060.1x-62.3x8.6x
Tue, 15 Aug 2023AU$73.5bAU$7.7b-AU$892,591,052.0050.9x-82.3x9.5x
Thu, 13 Jul 2023AU$69.1bAU$7.7b-AU$890,051,417.0048x-77.6x9x
Sat, 10 Jun 2023AU$67.3bAU$7.7b-AU$895,238,292.0049.5x-75.2x8.7x
Mon, 08 May 2023AU$61.4bAU$7.5b-AU$876,444,181.0048.9x-70x8.2x
Wed, 05 Apr 2023AU$61.6bAU$7.5b-AU$869,660,235.0045.3x-70.8x8.2x
Price to Earnings Ratio

-70.8x


Total Market Cap: AU$61.6bTotal Earnings: -AU$869,660,235.00Total Revenue: AU$7.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Software Industry Price to Earnings3Y Average 20.7x202420252026
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 67.9x which is higher than its 3-year average PE of 20.7x.
  • The 3-year average PS ratio of 10.3x is higher than the industry's current PS ratio of 5.9x.
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 4.5% 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 Market0.78%
Tech-4.27%
Software-3.21%
Systems Software-2.81%
Application Software-3.21%
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 24.1%, 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 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
360 Life360AU$19.296.7%
+AU$291.1m		-8.0%PE21.1x
EIQ Echo IQAU$0.9446.9%
+AU$197.5m		224.1%PS6806.2x
TNE Technology OneAU$27.301.9%
+AU$169.7m		-4.2%PE64.7x
HSN Hansen TechnologiesAU$4.9810.2%
+AU$93.6m		1.0%PE15.5x
BRN BrainChip HoldingsAU$0.1411.5%
+AU$33.8m		-32.6%PS118.9x

Latest News

CAT
AU$3.41
Catapult Sports
7D
0.9%
1Y
-3.1%

CAT: New Partnerships And Performance System Will Support Future Share Outperformance

Analysts have trimmed their price target for Catapult Sports to A$5.92 from A$6.04, reflecting updated assumptions for slightly lower revenue growth, a modestly higher profit margin and a reduced future P/E multiple. What's in the News Mercury13, a multi club ownership group focused on women's football, agreed a multi year partnership with Catapult that covers all Mercury13 clubs, positioning Catapult as the exclusive Official Elite Sports Performance Analytics and GPS Partner and a non exclusive Thought Leadership Partner across the platform (Key Developments).
EIQ
AU$0.94
Echo IQ
7D
46.9%
1Y
224.1%
BVS
AU$1.97
Bravura Solutions
7D
-3.9%
1Y
-12.1%

BVS: Dividend Payouts And Refined Profitability Assumptions Will Support Forward Share Performance

Analysts have lifted their A$ price target for Bravura Solutions, citing updated assumptions on discount rates and profitability. These changes keep fair value estimates broadly unchanged while refining their outlook for the stock's risk and earnings profile.
NXL
AU$1.24
Nuix
7D
-8.5%
1Y
-61.4%

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$4.98
Hansen Technologies
7D
10.2%
1Y
1.0%

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).
IRE
AU$6.94
Iress
7D
1.2%
1Y
-14.4%
WTC
AU$38.36
WiseTech Global
7D
-10.5%
1Y
-52.1%
OCL
AU$11.50
Objective
7D
-5.8%
1Y
-24.5%

OCL: Share Buyback And Upcoming Distribution Will Support Future Shareholder Returns

Analysts have made only minor model tweaks to the discount rate, revenue growth and future P/E assumptions, leaving their A$22.10 price target for Objective unchanged. What's in the News Objective Corporation Limited declared an ordinary unfranked distribution of A$0.13 per share for the six month period ended 31 December 2025, with an ex date of 6 March 2026, a record date of 9 March 2026, and a payment date of 17 March 2026 (Key Developments).
360
AU$19.29
Life360
7D
6.7%
1Y
-8.0%

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$72.84
Xero
7D
-5.4%
1Y
-53.3%
TNE
AU$27.30
Technology One
7D
1.9%
1Y
-4.2%

TNE: Higher Margin Outlook Will Support Future Upside Potential

Analysts have reduced their price target for Technology One from A$44.55 to A$40.32, citing updated assumptions for discount rate, revenue growth, profit margins and future P/E that result in a slight adjustment to the valuation outlook. Valuation Changes Fair Value: Adjusted from A$44.55 to A$40.32, indicating a modest reduction in the assessed value per share.
FCL
AU$2.34
FINEOS Corporation Holdings
7D
-2.1%
1Y
14.7%
BRN
AU$0.14
BrainChip Holdings
7D
11.5%
1Y
-32.6%
IOD
AU$0.11
IODM
7D
-33.3%
1Y
-38.9%
QOR
AU$0.28
Qoria
7D
-6.7%
1Y
-34.1%
ROC
AU$0.30
RocketBoots
7D
25.0%
1Y
200.0%