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Australian (ASX) Application Software Industry Analysis

UpdatedJan 10, 2026
DataAggregated Company Financials
Companies60
  • 7D-2.0%
  • 3M-27.0%
  • 1Y-28.5%
  • YTDn/a

Over the last 7 days, the Application Software industry has dropped 1.5%, driven by Xero declining 4.3%. Meanwhile, FINEOS Corporation Holdings actually outperformed within the industry, gaining 7.7% in the last week. The industry has fallen 28% in the last year. Looking forward, 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
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
Tue, 17 Jan 2023AU$54.7bAU$6.9b-AU$563,113,521.0052.4x-97.1x8x
Price to Earnings Ratio

-97.1x


Total Market Cap: AU$54.7bTotal Earnings: -AU$563,113,521.00Total Revenue: AU$6.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Application Software Industry Price to Earnings3Y Average 1577.6x202420252026
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 104x 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 9.1x.
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 5.4% 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 Market0.16%
Tech0.36%
Software-1.96%
Application Software-2.02%
Systems Software2.79%
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
FCL FINEOS Corporation HoldingsAU$3.237.7%
+AU$79.2m		68.2%PS4.7x
OCL ObjectiveAU$16.661.1%
+AU$17.3m		4.0%PE45.1x
EIQ Echo IQAU$0.289.8%
+AU$16.3m		9.8%PS1795.5x
VR1 Vection TechnologiesAU$0.03815.2%
+AU$11.2m		-2.6%PS2.3x
BRN BrainChip HoldingsAU$0.182.8%
+AU$11.2m		-44.8%PS211.5x

Latest News

IRE
AU$8.34
Iress
7D
-1.8%
1Y
-9.9%
XRO
AU$107.46
Xero
7D
-4.3%
1Y
-36.8%

XRO: Higher Revenue Outlook Will Be Balanced By Thinner Margins

Analysts have reduced their fair value estimate for Xero from A$134.61 to A$109.01, linking this change to updated assumptions that combine higher expected revenue growth with a lower profit margin profile and a higher future P/E multiple. Valuation Changes Fair value estimate reduced from A$134.61 to A$109.01, reflecting updated assumptions.
WTC
AU$67.01
WiseTech Global
7D
-2.2%
1Y
-46.6%

WTC: Analyst Day Insights Will Support Long-Term Share Price Appreciation

Analysts have trimmed their fair value estimate for WiseTech Global to A$107.32 from A$113.39, reflecting slightly adjusted assumptions for the discount rate, revenue growth, profit margins and future P/E multiples. What's in the News WiseTech Global has scheduled an Analyst and Investor Day for 27 November 2025, classified as an Analyst/Investor Day event.
TNE
AU$27.50
Technology One
7D
-1.3%
1Y
-9.4%

TNE: Special Dividend And Disciplined M&A Will Support Future Upside

Analysts have nudged their price target for Technology One slightly higher to A$44.55, reflecting small adjustments to assumptions around the discount rate, revenue growth, profit margins and future P/E multiples. What's in the News Technology One is actively looking for acquisitions that add new IP to its portfolio, with management highlighting interest in targets that fit the verticals and regions it already serves (Full Year Results announcement).
VR1
AU$0.038
Vection Technologies
7D
15.2%
1Y
-2.6%

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
SDR
AU$5.94
SiteMinder
7D
-2.9%
1Y
2.1%
NXL
AU$1.86
Nuix
7D
1.4%
1Y
-68.0%

NXL: Governance Reforms Will Drive Stronger Long Term Profitability

Analysts have modestly raised their price target on Nuix, citing slightly lower discount rate assumptions, marginally higher long term revenue growth and profit margin expectations, and a small compression in forecast future P E multiples that together support a refined fair value estimate around $2.25 per share. What's in the News Shareholders approved amendments to the Nuix constitution at the Annual General Meeting held on 19 November 2025, formalizing updates to the company bylaws (Key Developments).
OCL
AU$16.66
Objective
7D
1.1%
1Y
4.0%

OCL: Mission-Aligned Acquisitions Will Drive Stronger Long-Term Revenue Outlook

Analysts have raised their price target to 25.00 dollars from 24.29 dollars, citing stronger expected revenue growth that more than offsets slightly lower projected profit margins and a modest increase in the discount rate. What's in the News Objective Corporation Limited is actively seeking acquisitions to support its growth strategy, focusing on targets that align with its core mission and existing business lines (Key Developments).
BVS
AU$2.56
Bravura Solutions
7D
-1.5%
1Y
12.8%

BVS: Margin Resilience And Index Inclusions Will Support Forward Share Performance

Analysts have trimmed their price target for Bravura Solutions by AUD 4 to reflect softer near term revenue expectations and cautious longer term guidance, even as margins are expected to remain relatively resilient. Analyst Commentary Street research on Bravura Solutions highlights a mixed backdrop, with valuation expectations being reset to reflect softer near term execution, while longer term growth and margin resilience remain key points of debate.
BRN
AU$0.18
BrainChip Holdings
7D
2.8%
1Y
-44.8%
CAT
AU$4.14
Catapult Sports
7D
-3.0%
1Y
13.4%

CAT: Upcoming Industry Momentum Will Fuel Outperformance Over The Coming Year

Narrative Update on Catapult Sports Analysts have revised their price target for Catapult Sports downward from A$7.97 to A$7.02, citing adjustments for fair value and discount rate. However, they maintain a positive outlook due to expectations of sustainable, above-consensus revenue growth in the sports technology sector.
EIQ
AU$0.28
Echo IQ
7D
9.8%
1Y
9.8%
FCL
AU$3.23
FINEOS Corporation Holdings
7D
7.7%
1Y
68.2%

A Look At The Intrinsic Value Of FINEOS Corporation Holdings plc (ASX:FCL)

Nov 23
A Look At The Intrinsic Value Of FINEOS Corporation Holdings plc (ASX:FCL)
ESK
AU$0.61
Etherstack
7D
9.8%
1Y
119.6%
YOJ
AU$0.40
Yojee
7D
6.8%
1Y
203.8%
ATV
AU$0.019
ActivePort Group
7D
-26.9%
1Y
18.8%