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Australian (ASX) Application Software Industry Analysis

UpdatedFeb 26, 2026
DataAggregated Company Financials
Companies58
  • 7D-2.2%
  • 3M-31.6%
  • 1Y-41.2%
  • YTDn/a

Over the last 7 days, the Application Software industry has dropped 2.2%, driven by Objective declining 11%. The industry has fallen 41% 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, 26 Feb 2026AU$53.9bAU$7.8bAU$693.3m22.4x77.7x6.9x
Sat, 24 Jan 2026AU$69.8bAU$8.0bAU$700.4m32.6x99.7x8.7x
Mon, 22 Dec 2025AU$75.5bAU$8.1bAU$713.3m37.8x105.8x9.3x
Wed, 19 Nov 2025AU$74.3bAU$8.2bAU$735.0m36.7x101.1x9x
Fri, 17 Oct 2025AU$95.9bAU$8.0bAU$696.5m35.2x137.7x12x
Sun, 14 Sep 2025AU$99.2bAU$7.9bAU$696.5m33.1x142.5x12.5x
Tue, 12 Aug 2025AU$104.9bAU$7.8bAU$587.4m76x178.5x13.4x
Thu, 10 Jul 2025AU$101.7bAU$7.8bAU$588.0m75.5x173x13x
Sat, 07 Jun 2025AU$100.2bAU$7.9bAU$591.8m78.7x169.3x12.8x
Mon, 05 May 2025AU$87.2bAU$7.6bAU$533.1m67.9x163.6x11.4x
Wed, 02 Apr 2025AU$79.3bAU$7.8bAU$469.7m60.9x168.8x10.2x
Fri, 28 Feb 2025AU$87.8bAU$7.6bAU$442.2m39.7x198.6x11.5x
Sun, 26 Jan 2025AU$97.3bAU$7.5bAU$363.0m69.9x268x13x
Tue, 24 Dec 2024AU$97.4bAU$7.6bAU$342.2m70x284.5x12.9x
Thu, 21 Nov 2024AU$102.3bAU$7.5bAU$349.6m63.1x292.6x13.6x
Sat, 19 Oct 2024AU$90.7bAU$7.2bAU$284.4m64x318.9x12.5x
Mon, 16 Sep 2024AU$89.8bAU$7.3bAU$276.4m66.5x324.9x12.3x
Wed, 14 Aug 2024AU$74.3bAU$7.2b-AU$106,821,842.6558.9x-696x10.4x
Fri, 12 Jul 2024AU$85.7bAU$7.6bAU$183.1k61.5x468084.3x11.3x
Sun, 09 Jun 2024AU$82.8bAU$7.7bAU$4.2m60.9x19633.4x10.8x
Tue, 07 May 2024AU$80.0bAU$7.4b-AU$226,784,485.8263.2x-352.6x10.8x
Thu, 04 Apr 2024AU$77.9bAU$7.5b-AU$287,455,533.4161.7x-271x10.4x
Sat, 02 Mar 2024AU$80.7bAU$7.6b-AU$349,620,789.2458x-231x10.6x
Mon, 29 Jan 2024AU$69.1bAU$8.1b-AU$927,150,107.0060.7x-74.5x8.5x
Wed, 27 Dec 2023AU$68.2bAU$8.1b-AU$925,725,999.0060.7x-73.7x8.4x
Fri, 24 Nov 2023AU$63.2bAU$8.1b-AU$934,481,105.0058.5x-67.6x7.8x
Sun, 22 Oct 2023AU$61.7bAU$7.8b-AU$996,529,113.0057.3x-61.9x7.9x
Tue, 19 Sep 2023AU$67.2bAU$7.8b-AU$993,691,114.0059.5x-67.6x8.6x
Thu, 17 Aug 2023AU$71.9bAU$7.5b-AU$724,556,948.0049.9x-99.2x9.5x
Sat, 15 Jul 2023AU$71.1bAU$7.4b-AU$759,228,199.0048x-93.7x9.6x
Mon, 12 Jun 2023AU$66.9bAU$7.4b-AU$766,296,057.0049.5x-87.2x9x
Wed, 10 May 2023AU$61.0bAU$7.3b-AU$731,077,522.0047.5x-83.4x8.4x
Fri, 07 Apr 2023AU$60.2bAU$7.3b-AU$727,111,762.0044.1x-82.8x8.3x
Sun, 05 Mar 2023AU$57.0bAU$7.0b-AU$509,977,230.0045.9x-111.8x8.1x
Price to Earnings Ratio

-111.8x


Total Market Cap: AU$57.0bTotal Earnings: -AU$509,977,230.00Total Revenue: AU$7.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Application Software Industry Price to Earnings3Y Average 1585.8x202420252026
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 77.7x 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 6.9x.
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 3.7% 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 Market1.42%
Tech-2.59%
Software-2.18%
Application Software-2.17%
Systems Software-2.48%
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$82.302.2%
+AU$297.5m		-53.4%PE62.1x
NXL NuixAU$2.0342.0%
+AU$200.9m		-46.0%PE55.4x
IRE IressAU$7.566.6%
+AU$95.2m		-8.4%PE17.7x
TNE Technology OneAU$24.931.0%
+AU$78.3m		-18.3%PE59.1x
FCL FINEOS Corporation HoldingsAU$2.656.0%
+AU$51.8m		57.3%PE585.3x

Latest News

OCL
AU$12.76
Objective
7D
-11.0%
1Y
-14.1%
SDR
AU$3.49
SiteMinder
7D
-8.2%
1Y
-35.7%
FCL
AU$2.65
FINEOS Corporation Holdings
7D
6.0%
1Y
57.3%
COS
AU$0.30
COSOL
7D
-25.0%
1Y
-65.5%
PPS
AU$0.71
Praemium
7D
-6.5%
1Y
0.7%
IRE
AU$7.56
Iress
7D
6.6%
1Y
-8.4%
RDY
AU$1.22
ReadyTech Holdings
7D
-32.5%
1Y
-58.7%

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

Analysts have trimmed their price target for ReadyTech Holdings to A$20.84 from A$22.10, reflecting updated assumptions for discount rate, revenue growth, profit margins, and a slightly lower future P/E multiple. Valuation Changes Fair Value: The A$2.6x fair value multiple is unchanged, indicating no adjustment to the core valuation anchor in this update.
XRO
AU$82.30
Xero
7D
2.2%
1Y
-53.4%
CAT
AU$3.57
Catapult Sports
7D
-1.7%
1Y
-4.0%
NXL
AU$2.03
Nuix
7D
42.0%
1Y
-46.0%

NXL: Earnings Reset And Migration Progress Will Support Stronger Retention

Analysts have lifted their A$ price target range for Nuix, with one research house moving its view from A$2.15 to A$2.30. They point to a recent earnings print and ongoing execution on the Neo migration as support for improved growth and retention assumptions.
360
AU$24.01
Life360
7D
-0.9%
1Y
10.4%

360: Index Inclusion And Ride Partnership Will Support Future Upside

Analysts have lowered their price targets for Life360 to A$42.13 from A$49.81, citing updated assumptions that include higher revenue, slightly stronger profit margins and a lower future P/E multiple. What's in the News Life360 and Uber Technologies, Inc.
DUG
AU$2.17
DUG Technology
7D
18.3%
1Y
77.9%

DUG: Refined Margin And P/E Assumptions Will Support Further Upside

Analysts have trimmed their price target for DUG Technology to A$2.43 from A$2.47, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E, which slightly adjust their view of the company’s risk and earnings profile. Valuation Changes Fair Value: Adjusted slightly lower from A$2.47 to A$2.43.
TNE
AU$24.93
Technology One
7D
1.0%
1Y
-18.3%
EOL
AU$15.41
Energy One
7D
7.9%
1Y
46.6%

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.
AIM
AU$0.34
Ai-Media Technologies
7D
-35.5%
1Y
-53.7%
EIQ
AU$0.63
Echo IQ
7D
8.6%
1Y
121.1%