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Australian (ASX) Application Software Industry Analysis

UpdatedFeb 22, 2026
DataAggregated Company Financials
Companies58
  • 7D9.2%
  • 3M-27.3%
  • 1Y-46.9%
  • YTDn/a

In the last week, the Application Software industry is up 9.2%, with Technology One leading the way, up 23%. Meanwhile, Bravura Solutions actually underperformed within the industry, shrinking 7.5% in the last week. In the past year, the industry is down 47%. As for the next few years, earnings are expected to grow by 24% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 23 Feb 2026AU$54.5bAU$7.8bAU$674.4m27x80.8x7x
Wed, 21 Jan 2026AU$69.1bAU$8.0bAU$706.7m33.9x97.8x8.6x
Fri, 19 Dec 2025AU$73.7bAU$8.1bAU$711.9m37.8x103.5x9.1x
Sun, 16 Nov 2025AU$78.3bAU$8.1bAU$730.0m35.9x107.2x9.6x
Tue, 14 Oct 2025AU$96.8bAU$8.0bAU$695.2m34.3x139.2x12.2x
Thu, 11 Sep 2025AU$98.7bAU$8.0bAU$698.0m33.4x141.4x12.4x
Sat, 09 Aug 2025AU$105.4bAU$7.8bAU$587.7m75.6x179.3x13.5x
Mon, 07 Jul 2025AU$101.8bAU$7.8bAU$588.2m77.5x173x13x
Wed, 04 Jun 2025AU$99.3bAU$7.9bAU$593.0m80x167.4x12.6x
Fri, 02 May 2025AU$86.5bAU$7.6bAU$536.3m66.7x161.3x11.3x
Sun, 30 Mar 2025AU$78.6bAU$7.7bAU$468.3m61.6x167.8x10.2x
Tue, 25 Feb 2025AU$90.9bAU$7.5bAU$456.9m48.9x198.9x12.1x
Thu, 23 Jan 2025AU$97.6bAU$7.5bAU$362.3m70.4x269.3x13x
Sat, 21 Dec 2024AU$95.8bAU$7.6bAU$346.1m68.4x276.9x12.7x
Mon, 18 Nov 2024AU$100.4bAU$7.5bAU$341.2m65.3x294.3x13.4x
Wed, 16 Oct 2024AU$95.3bAU$7.2bAU$284.7m64.9x334.7x13.2x
Fri, 13 Sep 2024AU$90.3bAU$7.3bAU$276.2m67.2x327x12.4x
Sun, 11 Aug 2024AU$73.3bAU$7.2b-AU$107,691,666.9360.2x-680.6x10.2x
Tue, 09 Jul 2024AU$84.0bAU$7.6bAU$1.8m58.2x46298.7x11.1x
Thu, 06 Jun 2024AU$81.4bAU$7.7bAU$1.3m62.6x62870.8x10.6x
Sat, 04 May 2024AU$79.2bAU$7.4b-AU$226,915,975.5863.8x-349.2x10.7x
Mon, 01 Apr 2024AU$81.0bAU$7.5b-AU$287,480,148.2763x-281.9x10.9x
Wed, 28 Feb 2024AU$77.8bAU$7.5b-AU$405,039,908.1356.9x-192x10.3x
Fri, 26 Jan 2024AU$69.1bAU$8.1b-AU$927,304,760.0060.8x-74.5x8.5x
Sun, 24 Dec 2023AU$68.2bAU$8.1b-AU$925,650,444.0060.7x-73.7x8.4x
Tue, 21 Nov 2023AU$64.0bAU$8.1b-AU$934,580,206.0056.8x-68.5x7.9x
Thu, 19 Oct 2023AU$63.7bAU$7.8b-AU$996,130,691.0057.5x-64x8.2x
Sat, 16 Sep 2023AU$67.6bAU$7.8b-AU$994,128,092.0059.9x-68x8.7x
Mon, 14 Aug 2023AU$72.8bAU$7.5b-AU$764,247,067.0050.5x-95.2x9.7x
Wed, 12 Jul 2023AU$68.9bAU$7.5b-AU$762,598,648.0050.7x-90.4x9.2x
Fri, 09 Jun 2023AU$65.7bAU$7.4b-AU$767,445,937.0049.5x-85.6x8.8x
Sun, 07 May 2023AU$61.0bAU$7.3b-AU$731,493,984.0048.9x-83.3x8.4x
Tue, 04 Apr 2023AU$60.4bAU$7.3b-AU$725,533,095.0046x-83.2x8.3x
Thu, 02 Mar 2023AU$57.2bAU$7.2b-AU$514,514,985.0046.9x-111.2x8x
Price to Earnings Ratio

-111.2x


Total Market Cap: AU$57.2bTotal Earnings: -AU$514,514,985.00Total Revenue: AU$7.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Application Software Industry Price to Earnings3Y Average 1585.2x202420252026
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 80.8x 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 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 3.0% 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 Market1.87%
Tech6.12%
Software9.09%
Application Software9.15%
Systems Software3.79%
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
TNE Technology OneAU$24.7522.7%
+AU$1.5b		-22.8%PE58.7x
WTC WiseTech GlobalAU$47.1010.5%
+AU$1.5b		-61.3%PE55.4x
XRO XeroAU$77.545.5%
+AU$693.0m		-57.4%PE58.4x
360 Life360AU$23.848.3%
+AU$436.9m		-1.2%PE136.6x
HSN Hansen TechnologiesAU$5.1416.3%
+AU$143.6m		-0.4%PE16x

Latest News

XRO
AU$77.54
Xero
7D
5.5%
1Y
-57.4%

XRO: Fair Outlook Will Balance AI Upside With Execution And Pricing Risks

Analysts have reduced their price target on Xero from about A$109.01 to about A$82.74, reflecting updated assumptions around discount rates, revenue growth, profit margins and P/E multiples, supported by recent Street research including the upgrade from RBC Capital. Analyst Commentary Recent research highlights a mixed setup for Xero, with the reduced price target pointing to more conservative expectations around growth, profitability and valuation.
WTC
AU$47.10
WiseTech Global
7D
10.5%
1Y
-61.3%

WTC: Higher Fair Value And Investor Day Access Will Support Future Confidence

The analyst fair value estimate for WiseTech Global has moved from A$131.14 to A$135.97. Analysts point to updated assumptions for revenue growth, profit margins and a higher future P/E as key drivers of the change.
HSN
AU$5.14
Hansen Technologies
7D
16.3%
1Y
-0.4%
CAT
AU$3.51
Catapult Sports
7D
5.7%
1Y
-8.8%
TNE
AU$24.75
Technology One
7D
22.7%
1Y
-22.8%
NXL
AU$1.36
Nuix
7D
-1.4%
1Y
-71.5%
EOL
AU$13.88
Energy One
7D
-1.6%
1Y
48.4%

EOL: Slightly Firmer Assumptions Will Support Stronger Sentiment And Upside Potential

Analysts have trimmed their price target on Energy One to A$21.25 from A$21.66, reflecting slightly updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E. Valuation Changes Fair Value: trimmed slightly from A$21.66 to A$21.25, a small reduction in the implied central estimate.
BVS
AU$1.93
Bravura Solutions
7D
-7.5%
1Y
-29.2%
FCL
AU$2.41
FINEOS Corporation Holdings
7D
13.1%
1Y
36.9%
RDY
AU$1.70
ReadyTech Holdings
7D
-5.8%
1Y
-49.1%

Lacklustre Performance Is Driving ReadyTech Holdings Limited's (ASX:RDY) 26% Price Drop

Feb 13
Lacklustre Performance Is Driving ReadyTech Holdings Limited's (ASX:RDY) 26% Price Drop
360
AU$23.84
Life360
7D
8.3%
1Y
-1.2%

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%
COS
AU$0.40
COSOL
7D
-11.1%
1Y
-54.0%
OCL
AU$14.00
Objective
7D
6.1%
1Y
-12.4%

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).
ICE
AU$0.04
icetana
7D
-16.7%
1Y
100.0%
VR1
AU$0.028
Vection Technologies
7D
-12.5%
1Y
3.7%

Vection Technologies Limited's (ASX:VR1) Revenues Are Not Doing Enough For Some Investors

Jan 06
Vection Technologies Limited's (ASX:VR1) Revenues Are Not Doing Enough For Some Investors
SKK
AU$0.021
Stakk
7D
-12.5%
1Y
320.0%