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Australian (ASX) Application Software Industry Analysis

UpdatedFeb 16, 2026
DataAggregated Company Financials
Companies59
  • 7D-8.2%
  • 3M-35.7%
  • 1Y-51.4%
  • YTDn/a

Over the last 7 days, the Application Software industry has dropped 8.2%, driven by pullbacks in WiseTech Global and Xero of 10% and 10%, respectively. Meanwhile, Bravura Solutions actually outperformed within the industry, gaining 16% in the last week. Overall the industry is down 51% in 12 months. Earnings are forecast to grow by 24% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 16 Feb 2026AU$51.0bAU$7.9bAU$656.9m28.2x77.7x6.4x
Wed, 14 Jan 2026AU$72.4bAU$8.0bAU$706.2m34.6x102.5x9x
Fri, 12 Dec 2025AU$75.4bAU$8.1bAU$709.9m35.8x106.3x9.3x
Sun, 09 Nov 2025AU$84.9bAU$7.9bAU$693.7m35.8x122.4x10.7x
Tue, 07 Oct 2025AU$99.3bAU$7.9bAU$693.8m34.6x143.1x12.5x
Thu, 04 Sep 2025AU$95.0bAU$8.0bAU$701.0m33.4x135.5x11.9x
Sat, 02 Aug 2025AU$105.0bAU$7.8bAU$590.6m75.5x177.7x13.4x
Mon, 30 Jun 2025AU$99.2bAU$7.8bAU$590.0m77x168.1x12.6x
Wed, 28 May 2025AU$98.6bAU$7.9bAU$592.4m96.3x166.5x12.5x
Fri, 25 Apr 2025AU$80.1bAU$7.7bAU$538.2m61.1x148.9x10.5x
Sun, 23 Mar 2025AU$80.4bAU$7.8bAU$470.0m59.6x171x10.4x
Tue, 18 Feb 2025AU$101.7bAU$7.5bAU$417.3m55x243.7x13.6x
Thu, 16 Jan 2025AU$92.8bAU$7.5bAU$361.5m70.6x256.6x12.4x
Sat, 14 Dec 2024AU$97.0bAU$7.5bAU$348.6m66.2x278.3x12.9x
Mon, 11 Nov 2024AU$95.5bAU$7.3bAU$282.3m64.2x338.4x13.2x
Wed, 09 Oct 2024AU$92.9bAU$7.2bAU$285.1m63.8x325.8x12.8x
Fri, 06 Sep 2024AU$87.5bAU$7.4bAU$280.6m65.6x311.9x11.9x
Sun, 04 Aug 2024AU$74.9bAU$7.1b-AU$97,667,071.2661.4x-767.1x10.5x
Tue, 02 Jul 2024AU$82.9bAU$7.6bAU$2.4m60.8x35105x10.9x
Thu, 30 May 2024AU$82.6bAU$7.6b-AU$1,206,190.3761.6x-68441.7x10.8x
Sat, 27 Apr 2024AU$77.6bAU$7.5b-AU$272,733,841.2463.2x-284.3x10.4x
Mon, 25 Mar 2024AU$81.9bAU$7.5b-AU$287,690,781.9861.3x-284.8x11x
Wed, 21 Feb 2024AU$71.5bAU$7.3b-AU$664,367,179.8452.3x-107.6x9.8x
Fri, 19 Jan 2024AU$67.4bAU$8.1b-AU$927,603,827.0058.4x-72.7x8.3x
Sun, 17 Dec 2023AU$68.2bAU$8.1b-AU$926,220,854.0060.6x-73.7x8.4x
Tue, 14 Nov 2023AU$61.8bAU$8.1b-AU$980,898,978.0056.3x-63x7.6x
Thu, 12 Oct 2023AU$65.9bAU$7.8b-AU$988,938,946.0058.4x-66.6x8.4x
Sat, 09 Sep 2023AU$68.4bAU$7.8b-AU$994,943,277.0060.8x-68.8x8.8x
Mon, 07 Aug 2023AU$74.0bAU$7.5b-AU$764,858,835.0051.7x-96.7x9.9x
Wed, 05 Jul 2023AU$68.9bAU$7.5b-AU$761,379,705.0050.6x-90.5x9.2x
Fri, 02 Jun 2023AU$67.9bAU$7.5b-AU$791,452,584.0045.7x-85.8x9.1x
Sun, 30 Apr 2023AU$62.0bAU$7.3b-AU$729,650,789.0048.1x-84.9x8.5x
Tue, 28 Mar 2023AU$58.2bAU$7.3b-AU$727,916,551.0043x-79.9x8x
Thu, 23 Feb 2023AU$55.9bAU$7.0b-AU$547,557,216.0052.7x-102.1x7.9x
Price to Earnings Ratio

-102.1x


Total Market Cap: AU$55.9bTotal Earnings: -AU$547,557,216.00Total Revenue: AU$7.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Application Software Industry Price to Earnings3Y Average 1584.1x202420252026
Current Industry PE
  • Investors are pessimistic on the Australian Application Software industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 77.8x which is lower than its 3-year average PE of 2kx.
  • The 3-year average PS ratio of 10.5x is higher than the industry's current PS ratio of 6.4x.
Past Earnings Growth
  • Total earnings for the Application Software industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 4.0% per year.
  • This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Comparison

How does Australian Application Software compare with similar industries?

AU Market2.05%
Tech-4.69%
Software-8.26%
Application Software-8.19%
Systems Software-14.59%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
EIQ Echo IQAU$0.5315.4%
+AU$45.8m		75.0%PS3384.7x
DUG DUG TechnologyAU$1.805.6%
+AU$12.9m		41.3%PS2.7x
ACE AcusensusAU$1.773.2%
+AU$8.9m		39.0%PS4.8x
IOD IODMAU$0.176.3%
+AU$6.3m		13.3%PS33x
PHX PharmX TechnologiesAU$0.147.7%
+AU$6.0m		68.7%PS11.1x

Latest News

TNE
AU$21.30
Technology One
7D
-5.9%
1Y
-33.5%
ACE
AU$1.77
Acusensus
7D
3.2%
1Y
39.0%

Acusensus Limited's (ASX:ACE) Business Is Yet to Catch Up With Its Share Price

Feb 15
Acusensus Limited's (ASX:ACE) Business Is Yet to Catch Up With Its Share Price
360
AU$22.02
Life360
7D
-11.8%
1Y
-11.0%

Some Confidence Is Lacking In Life360, Inc. (ASX:360) As Shares Slide 27%

Feb 13
Some Confidence Is Lacking In Life360, Inc. (ASX:360) As Shares Slide 27%
WTC
AU$48.11
WiseTech Global
7D
-2.4%
1Y
-61.1%

WiseTech Global Limited (ASX:WTC) Shares Slammed 29% But Getting In Cheap Might Be Difficult Regardless

Feb 12
WiseTech Global Limited (ASX:WTC) Shares Slammed 29% But Getting In Cheap Might Be Difficult Regardless
BVS
AU$2.12
Bravura Solutions
7D
-9.0%
1Y
-23.5%
RKN
AU$0.53
Reckon
7D
6.0%
1Y
2.9%
IRI
AU$0.33
Integrated Research
7D
8.3%
1Y
-26.1%
OCL
AU$13.46
Objective
7D
-7.0%
1Y
-17.4%

OCL: Share Buyback And Acquisition Plans Will Likely Sustain Overvaluation

Analysts have adjusted their price target to reflect updated assumptions for discount rates, revenue growth, profit margins and future P/E, which they believe better capture the current risk and earnings profile of the company. What's in the News The Board of Directors of Objective Corporation Limited authorized a share buyback plan on January 23, 2026, signaling an intention to return capital to shareholders over time (Key Developments).
DUG
AU$1.80
DUG Technology
7D
5.6%
1Y
41.3%

DUG: Higher Margin Outlook And Richer P/E Assumptions Will Support Upside

Analysts have lifted their price target on DUG Technology to A$2.47 from A$2.38, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples. Valuation Changes Fair Value: Updated fair value per share moved from A$2.38 to A$2.47, a small uplift in the model output.
IRE
AU$7.02
Iress
7D
-5.8%
1Y
-25.6%
XRO
AU$79.06
Xero
7D
-4.7%
1Y
-57.3%

XRO: AI Analytics And RBC Upgrade Will Support Stronger Future Returns

Analysts have nudged their Xero fair value estimate slightly higher to about A$230 per share, reflecting updated assumptions around growth, margins and future P/E multiples following recent positive research commentary and upgrades. Analyst Commentary Recent research has generally framed Xero as a high quality growth platform with room for further execution, particularly around monetisation and operating discipline.
SDR
AU$3.66
SiteMinder
7D
-15.7%
1Y
-43.7%

SiteMinder Limited's (ASX:SDR) Popularity With Investors Under Threat As Stock Sinks 32%

Feb 06
SiteMinder Limited's (ASX:SDR) Popularity With Investors Under Threat As Stock Sinks 32%
EIQ
AU$0.53
Echo IQ
7D
15.4%
1Y
75.0%
PHX
AU$0.14
PharmX Technologies
7D
7.7%
1Y
68.7%
ESK
AU$0.56
Etherstack
7D
4.7%
1Y
60.0%
IOD
AU$0.17
IODM
7D
6.3%
1Y
13.3%