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Australian (ASX) Application Software Industry Analysis

UpdatedFeb 12, 2026
DataAggregated Company Financials
Companies60
  • 7D1.6%
  • 3M-28.1%
  • 1Y-43.4%
  • YTDn/a

Over the last 7 days, the Application Software industry has dropped 9.0%, driven by declines in WiseTech Global and Xero of 12% and 12%, respectively. Meanwhile, Bravura Solutions actually outperformed within the industry, gaining 22% in the last week. The industry has fallen 44% in the last year. 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
Thu, 12 Feb 2026AU$58.9bAU$7.8bAU$654.0m34.6x90x7.5x
Sat, 10 Jan 2026AU$72.7bAU$8.0bAU$706.3m35.1x102.9x9x
Mon, 08 Dec 2025AU$78.9bAU$8.1bAU$709.9m34.4x111.2x9.8x
Wed, 05 Nov 2025AU$88.3bAU$7.9bAU$694.6m36.1x127.1x11.1x
Fri, 03 Oct 2025AU$99.5bAU$7.9bAU$694.8m34.9x143.2x12.5x
Sun, 31 Aug 2025AU$101.4bAU$8.0bAU$680.1m29.3x149.1x12.6x
Tue, 29 Jul 2025AU$106.5bAU$7.8bAU$587.3m74.6x181.4x13.6x
Thu, 26 Jun 2025AU$100.4bAU$7.9bAU$591.1m75.7x169.9x12.8x
Sat, 24 May 2025AU$95.6bAU$7.9bAU$591.3m95x161.6x12.1x
Mon, 21 Apr 2025AU$78.0bAU$7.8bAU$470.0m61.3x166x10x
Wed, 19 Mar 2025AU$80.1bAU$7.7bAU$466.5m58.6x171.8x10.4x
Fri, 14 Feb 2025AU$100.8bAU$7.5bAU$415.5m54.7x242.5x13.3x
Sun, 12 Jan 2025AU$98.5bAU$7.5bAU$352.1m70.4x279.6x13.1x
Tue, 10 Dec 2024AU$102.5bAU$7.5bAU$359.4m64.2x285.2x13.6x
Thu, 07 Nov 2024AU$92.7bAU$7.3bAU$281.8m63.8x329.2x12.8x
Sat, 05 Oct 2024AU$92.1bAU$7.2bAU$287.3m66.5x320.5x12.8x
Mon, 02 Sep 2024AU$86.1bAU$7.4bAU$280.3m67.8x307x11.7x
Wed, 31 Jul 2024AU$83.4bAU$7.6bAU$6.9m62.5x12155.7x11x
Fri, 28 Jun 2024AU$84.3bAU$7.6bAU$2.9m60.9x28650.9x11.1x
Sun, 26 May 2024AU$83.0bAU$7.6b-AU$1,319,031.3261.3x-62890.1x10.9x
Tue, 23 Apr 2024AU$75.8bAU$7.5b-AU$273,341,739.3363.2x-277.3x10.1x
Thu, 21 Mar 2024AU$80.9bAU$7.5b-AU$288,005,062.1861x-280.7x10.8x
Sat, 17 Feb 2024AU$72.7bAU$7.5b-AU$654,029,583.3852.5x-111.2x9.7x
Mon, 15 Jan 2024AU$67.8bAU$8.1b-AU$926,865,882.0059.6x-73.2x8.3x
Wed, 13 Dec 2023AU$66.2bAU$8.1b-AU$927,137,892.0059.9x-71.4x8.1x
Fri, 10 Nov 2023AU$61.8bAU$8.1b-AU$980,609,779.0055.3x-63x7.7x
Sun, 08 Oct 2023AU$63.6bAU$7.8b-AU$989,150,060.0057.8x-64.3x8.1x
Tue, 05 Sep 2023AU$69.7bAU$7.8b-AU$994,113,824.0062.6x-70.1x8.9x
Thu, 03 Aug 2023AU$74.1bAU$7.5b-AU$764,430,210.0051.7x-97x9.9x
Sat, 01 Jul 2023AU$70.0bAU$7.5b-AU$773,363,016.0047.8x-90.6x9.4x
Mon, 29 May 2023AU$67.4bAU$7.5b-AU$792,623,460.0044.4x-85x9x
Wed, 26 Apr 2023AU$62.0bAU$7.3b-AU$728,909,775.0047.1x-85.1x8.5x
Fri, 24 Mar 2023AU$58.0bAU$7.3b-AU$725,944,628.0045.2x-79.9x8x
Sun, 19 Feb 2023AU$56.2bAU$6.9b-AU$572,698,795.0048.6x-98.1x8.2x
Price to Earnings Ratio

-98.1x


Total Market Cap: AU$56.2bTotal Earnings: -AU$572,698,795.00Total Revenue: AU$6.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Application Software Industry Price to Earnings3Y Average 1583.4x202420252026
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 85.1x 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 7.4x.
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 4.7% 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 Market0.77%
Tech1.86%
Software1.49%
Application Software1.60%
Systems Software-7.60%
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
XRO XeroAU$84.003.9%
+AU$540.4m		-54.2%PE62.6x
TNE Technology OneAU$23.312.9%
+AU$215.4m		-26.8%PE55.3x
BVS Bravura SolutionsAU$2.2723.7%
+AU$195.0m		-17.2%PE26.2x
CAT Catapult SportsAU$3.537.6%
+AU$75.4m		-8.1%PS6x
FCL FINEOS Corporation HoldingsAU$2.448.4%
+AU$65.4m		37.9%PS3.7x

Latest News

BVS
AU$2.27
Bravura Solutions
7D
23.7%
1Y
-17.2%
TNE
AU$23.31
Technology One
7D
2.9%
1Y
-26.8%

Why We Think Shareholders May Be Considering Bumping Up Technology One Limited's (ASX:TNE) CEO Compensation

Feb 11
Why We Think Shareholders May Be Considering Bumping Up Technology One Limited's (ASX:TNE) CEO Compensation
ACE
AU$1.91
Acusensus
7D
18.3%
1Y
57.4%
RDY
AU$2.01
ReadyTech Holdings
7D
-9.0%
1Y
-36.6%

RDY: Higher Margins And Revenue Outlook Will Support Future Upside Potential

Analysts have reduced their price target for ReadyTech Holdings from A$2.60 to A$2.50, citing updated assumptions for the discount rate, revenue growth, profit margins and future P/E that slightly adjust their risk and earnings outlook for the company. Valuation Changes Fair Value: Modelled fair value remains unchanged at A$2.60 per share.
CAT
AU$3.53
Catapult Sports
7D
7.6%
1Y
-8.1%
NXL
AU$1.57
Nuix
7D
3.3%
1Y
-67.4%

NXL: Governance Amendments And Profitability Assumptions Will Support Long Term Upside

Narrative Update on Nuix Analysts have trimmed their fair value estimate for Nuix from A$2.25 to A$2.15, reflecting slightly higher discount rate assumptions along with modestly adjusted expectations for revenue growth, profit margins and future P/E levels. What's in the News Nuix Limited shareholders approved amendments to the company constitution at the AGM held on 19 November 2025.
OCL
AU$14.39
Objective
7D
-1.6%
1Y
-9.4%

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).
360
AU$26.71
Life360
7D
-0.9%
1Y
11.3%

360: Index Inclusion And Upgraded 2025 Guidance Will Support Bullish Repricing

Analysts have trimmed their price target on Life360 from $58.50 to $53.00, citing updated assumptions around the discount rate, revenue growth, profit margin and future P/E, which together point to a slightly lower fair value estimate. What's in the News Life360 raised its 2025 earnings guidance, now expecting revenue of $486 million to $489 million.
IRE
AU$7.83
Iress
7D
-0.6%
1Y
-16.3%
XRO
AU$84.00
Xero
7D
3.9%
1Y
-54.2%

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$4.41
SiteMinder
7D
-2.4%
1Y
-30.8%

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%
WTC
AU$50.94
WiseTech Global
7D
-0.6%
1Y
-58.7%

WTC: Future Execution And Investor Day Insights Will Support Bullish Earnings Confidence

Narrative Update on WiseTech Global The updated analyst price target for WiseTech Global has shifted from A$168.58 to A$131.14, as analysts reassessed their fair value assumptions alongside changes in discount rate, revenue growth, profit margin and future P/E expectations. Analyst Commentary Recent external research items reference adjustments to WisdomTree price targets rather than WiseTech Global specifically.
EOL
AU$15.21
Energy One
7D
-1.9%
1Y
113.6%

EOL: Steady Assumptions Will Support Stronger Sentiment And Upside Potential

Analysts have maintained their fair value estimate for Energy One at A$21.66, making only minor adjustments to assumptions such as the discount rate and future P/E. This reflects a broadly unchanged view of the company’s risk and earnings profile.
PPS
AU$0.72
Praemium
7D
6.6%
1Y
-12.7%

PPS: Higher Growth And Margin Assumptions Will Support Future Share Price Upside

Analysts have nudged their price target for Praemium higher to A$1.15 from A$1.12, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E that slightly adjust their overall valuation framework. Valuation Changes Fair Value: updated from A$1.12 to A$1.15, representing a modest uplift in the modelled valuation anchor.
FCL
AU$2.44
FINEOS Corporation Holdings
7D
8.4%
1Y
37.9%

Some Confidence Is Lacking In FINEOS Corporation Holdings plc (ASX:FCL) As Shares Slide 26%

Jan 30
Some Confidence Is Lacking In FINEOS Corporation Holdings plc (ASX:FCL) As Shares Slide 26%
BRN
AU$0.14
BrainChip Holdings
7D
-3.3%
1Y
-51.7%