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Australian (ASX) Application Software Industry Analysis

UpdatedMar 09, 2026
DataAggregated Company Financials
Companies63
  • 7D3.8%
  • 3M-24.6%
  • 1Y-31.3%
  • YTDn/a

The Application Software industry is up 3.8% in the last week, with WiseTech Global up 12%. Meanwhile, Life360 actually underperformed within the industry, shrinking 17% in the last week. However, the industry is down 31% over the past year. 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
Tue, 10 Mar 2026AU$56.5bAU$8.4bAU$813.3m23.7x69.5x6.7x
Thu, 05 Feb 2026AU$57.9bAU$7.9bAU$692.5m35.5x83.6x7.3x
Sat, 03 Jan 2026AU$74.2bAU$8.1bAU$707.5m37.5x104.8x9.2x
Mon, 01 Dec 2025AU$80.5bAU$8.1bAU$717.1m34.8x112.3x10x
Wed, 29 Oct 2025AU$91.5bAU$7.9bAU$693.9m36.4x131.9x11.5x
Fri, 26 Sep 2025AU$100.0bAU$7.9bAU$696.2m34.2x143.6x12.6x
Sun, 24 Aug 2025AU$104.4bAU$7.9bAU$703.2m35.1x148.4x13.2x
Tue, 22 Jul 2025AU$105.3bAU$7.8bAU$587.7m72.6x179.2x13.5x
Thu, 19 Jun 2025AU$101.2bAU$7.9bAU$591.6m76.3x171x12.9x
Sat, 17 May 2025AU$93.4bAU$7.8bAU$566.8m91.8x164.8x11.9x
Mon, 14 Apr 2025AU$77.9bAU$7.8bAU$472.0m60.4x165x10x
Wed, 12 Mar 2025AU$80.3bAU$7.7bAU$468.0m58x171.5x10.4x
Fri, 07 Feb 2025AU$102.0bAU$7.5bAU$354.1m70.3x288.1x13.6x
Sun, 05 Jan 2025AU$98.1bAU$7.5bAU$345.8m68.4x283.9x13x
Tue, 03 Dec 2024AU$101.0bAU$7.5bAU$360.2m64.2x280.3x13.4x
Thu, 31 Oct 2024AU$89.2bAU$7.3bAU$282.7m64x315.7x12.3x
Sat, 28 Sep 2024AU$94.0bAU$7.3bAU$279.3m69x336.5x13x
Mon, 26 Aug 2024AU$86.8bAU$7.3bAU$222.4m68.2x390.4x11.8x
Wed, 24 Jul 2024AU$84.4bAU$7.5bAU$7.0m60.8x11980.7x11.2x
Fri, 21 Jun 2024AU$80.9bAU$7.6bAU$2.9m62.2x27548.1x10.6x
Sun, 19 May 2024AU$80.4bAU$7.4b-AU$220,670,310.4959.6x-364.5x10.8x
Tue, 16 Apr 2024AU$76.8bAU$7.5b-AU$272,968,150.8963x-281.4x10.3x
Thu, 14 Mar 2024AU$82.6bAU$7.5b-AU$288,068,350.5860.9x-286.9x11.1x
Sat, 10 Feb 2024AU$68.3bAU$7.5b-AU$660,561,272.3955.6x-103.4x9.1x
Mon, 08 Jan 2024AU$66.1bAU$8.1b-AU$926,354,021.0057.1x-71.4x8.2x
Wed, 06 Dec 2023AU$64.1bAU$8.2b-AU$927,634,309.0058.4x-69.2x7.9x
Fri, 03 Nov 2023AU$61.9bAU$7.9b-AU$1,043,704,355.0055.1x-59.3x7.8x
Sun, 01 Oct 2023AU$64.7bAU$7.8b-AU$994,718,566.0058.5x-65.1x8.3x
Tue, 29 Aug 2023AU$68.7bAU$7.7b-AU$1,050,355,105.0061.3x-65.4x8.9x
Thu, 27 Jul 2023AU$72.4bAU$7.4b-AU$760,165,745.0047.5x-95.2x9.7x
Sat, 24 Jun 2023AU$67.2bAU$7.5b-AU$771,753,764.0049.5x-87x9x
Mon, 22 May 2023AU$65.0bAU$7.5b-AU$800,360,605.0045.3x-81.2x8.7x
Wed, 19 Apr 2023AU$63.3bAU$7.2b-AU$725,865,992.0046.6x-87.2x8.7x
Fri, 17 Mar 2023AU$57.5bAU$7.2b-AU$730,434,990.0046.4x-78.8x8x
Price to Earnings Ratio

-78.8x


Total Market Cap: AU$57.5bTotal Earnings: -AU$730,434,990.00Total Revenue: AU$7.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Application Software Industry Price to Earnings3Y Average 1587.7x202420252026
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 72.5x 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 7.0x.
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 5.2% 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 Market-3.68%
Tech2.13%
Software3.74%
Application Software3.76%
Systems Software1.72%
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
WTC WiseTech GlobalAU$50.6611.9%
+AU$1.8b		-42.3%PE73x
XRO XeroAU$83.424.3%
+AU$586.5m		-50.1%PE63x
TNE Technology OneAU$26.325.4%
+AU$443.9m		-8.9%PE62.4x
CAT Catapult SportsAU$3.725.4%
+AU$57.3m		-5.3%PS6.2x
EIQ Echo IQAU$0.6910.3%
+AU$42.6m		157.4%PS5010.6x

Latest News

IRE
AU$7.50
Iress
7D
2.7%
1Y
-7.7%
360
AU$20.40
Life360
7D
-17.5%
1Y
-11.3%
WTC
AU$50.66
WiseTech Global
7D
11.9%
1Y
-42.3%
DUG
AU$1.98
DUG Technology
7D
-6.0%
1Y
66.7%

DUG: Higher Margin Assumptions Will Support Further Upside Potential

Analysts have adjusted their fair value estimate for DUG Technology from A$2.43 to A$2.48, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples. Valuation Changes Fair Value: updated from A$2.43 to A$2.48, representing a small upward adjustment in the modelled estimate.
EOL
AU$14.18
Energy One
7D
-7.0%
1Y
37.7%
FCL
AU$2.39
FINEOS Corporation Holdings
7D
-6.3%
1Y
39.4%
XRO
AU$83.42
Xero
7D
4.3%
1Y
-50.1%

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.
COS
AU$0.23
COSOL
7D
-23.3%
1Y
-72.9%
EIQ
AU$0.69
Echo IQ
7D
10.3%
1Y
157.4%
NXL
AU$1.78
Nuix
7D
-3.0%
1Y
-49.6%
TNE
AU$26.32
Technology One
7D
5.4%
1Y
-8.9%

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
-5.8%
1Y
41.4%
OCL
AU$13.04
Objective
7D
2.0%
1Y
-11.8%
CAT
AU$3.72
Catapult Sports
7D
5.4%
1Y
-5.3%

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$3.38
SiteMinder
7D
1.8%
1Y
-27.9%
IOD
AU$0.14
IODM
7D
-25.0%
1Y
-20.6%