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Australian (ASX) Application Software Industry Analysis

UpdatedMar 15, 2026
DataAggregated Company Financials
Companies63
  • 7D-7.6%
  • 3M-27.0%
  • 1Y-33.8%
  • YTDn/a

Over the last 7 days, the Application Software industry has dropped 7.6%, driven by a pullback from WiseTech Global of 9.8%. Meanwhile, Etherstack actually outperformed within the industry, gaining 9.9% in the last week. The industry has fallen 34% 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
Sun, 15 Mar 2026AU$54.4bAU$8.4bAU$810.8m22.2x67.1x6.5x
Tue, 10 Feb 2026AU$57.4bAU$7.9bAU$691.4m34.6x83.1x7.3x
Thu, 08 Jan 2026AU$72.2bAU$8.0bAU$704.5m36.5x102.6x9x
Sat, 06 Dec 2025AU$78.9bAU$8.1bAU$710.5m34.4x111.1x9.7x
Mon, 03 Nov 2025AU$88.3bAU$7.9bAU$693.3m36.4x127.3x11.1x
Wed, 01 Oct 2025AU$98.6bAU$7.9bAU$693.9m34.9x142x12.4x
Fri, 29 Aug 2025AU$99.7bAU$8.0bAU$691.9m30.5x144.2x12.4x
Sun, 27 Jul 2025AU$106.0bAU$7.8bAU$585.9m74.1x180.9x13.6x
Tue, 24 Jun 2025AU$99.5bAU$7.9bAU$594.7m74.1x167.3x12.6x
Thu, 22 May 2025AU$95.9bAU$7.9bAU$591.9m95.7x162.1x12.2x
Sat, 19 Apr 2025AU$78.0bAU$7.8bAU$469.9m61.3x166x10x
Mon, 17 Mar 2025AU$80.0bAU$7.7bAU$467.1m57.3x171.3x10.3x
Wed, 12 Feb 2025AU$101.2bAU$7.5bAU$353.4m70.1x286.2x13.5x
Fri, 10 Jan 2025AU$98.8bAU$7.6bAU$345.5m69.3x286x13.1x
Sun, 08 Dec 2024AU$102.9bAU$7.5bAU$359.1m64.5x286.6x13.7x
Tue, 05 Nov 2024AU$91.6bAU$7.3bAU$282.6m64.7x323.9x12.6x
Thu, 03 Oct 2024AU$95.3bAU$7.2bAU$280.1m71.2x340.1x13.2x
Sat, 31 Aug 2024AU$86.1bAU$7.4bAU$263.6m68x326.4x11.6x
Mon, 29 Jul 2024AU$83.0bAU$7.5bAU$6.7m60.6x12334.7x11x
Wed, 26 Jun 2024AU$82.3bAU$7.6bAU$3.2m62.8x25539.3x10.8x
Fri, 24 May 2024AU$83.8bAU$7.6b-AU$1,445,264.0461.6x-57987.6x11x
Sun, 21 Apr 2024AU$75.8bAU$7.5b-AU$273,341,739.3363.2x-277.3x10.1x
Tue, 19 Mar 2024AU$81.4bAU$7.5b-AU$287,992,735.1861.7x-282.5x10.9x
Thu, 15 Feb 2024AU$67.6bAU$7.5b-AU$659,044,135.4656x-102.6x9x
Sat, 13 Jan 2024AU$67.8bAU$8.1b-AU$926,729,751.0059.6x-73.2x8.4x
Mon, 11 Dec 2023AU$64.8bAU$8.1b-AU$927,060,093.0060.4x-69.9x8x
Wed, 08 Nov 2023AU$63.5bAU$7.9b-AU$1,044,747,849.0054.5x-60.8x8x
Fri, 06 Oct 2023AU$64.6bAU$7.8b-AU$989,001,376.0057.2x-65.3x8.2x
Sun, 03 Sep 2023AU$69.7bAU$7.8b-AU$983,847,764.0063.3x-70.8x8.9x
Tue, 01 Aug 2023AU$73.7bAU$7.4b-AU$761,536,732.0052.7x-96.8x9.9x
Thu, 29 Jun 2023AU$67.3bAU$7.5b-AU$773,498,180.0046.9x-87x9x
Sat, 27 May 2023AU$67.4bAU$7.5b-AU$793,060,206.0044.4x-84.9x9x
Mon, 24 Apr 2023AU$61.4bAU$7.2b-AU$726,817,967.0047.3x-84.5x8.5x
Wed, 22 Mar 2023AU$57.4bAU$7.3b-AU$726,501,969.0045.5x-79x7.9x
Price to Earnings Ratio

-79x


Total Market Cap: AU$57.4bTotal Earnings: -AU$726,501,969.00Total Revenue: AU$7.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Application Software Industry Price to Earnings3Y Average 1588.4x202420252026
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 67.4x 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 6.5x.
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 4.9% 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-2.66%
Tech-6.17%
Software-7.49%
Application Software-7.59%
Systems Software3.55%
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
ESK EtherstackAU$0.569.9%
+AU$7.1m		91.4%PS5.4x
RDY ReadyTech HoldingsAU$1.282.8%
+AU$4.3m		-52.4%PE128.6x
IOV Ion VideoAU$0.2812.0%
+AU$2.8m		180.0%PS39.4x
3DP PointerraAU$0.0388.6%
+AU$2.5m		-49.3%PS5x
HTG Harvest Technology GroupAU$0.01318.2%
+AU$2.4m		-7.1%PS5.1x

Latest News

CAT
AU$3.37
Catapult Sports
7D
-15.5%
1Y
-3.4%

CAT: Next Generation Performance Platform Will Support Future Outperformance Despite Minor Assumption Shifts

Analysts have trimmed their price target for Catapult Sports to reflect slightly lower fair value and profitability assumptions, along with a modestly higher discount rate and future P/E. This has resulted in a small recalibration of expectations in A$ terms.
RDY
AU$1.28
ReadyTech Holdings
7D
2.8%
1Y
-52.4%

RDY: Higher Discount Rate Will Still Support Positive Long Term Upside

Analysts have adjusted their view on ReadyTech Holdings, cutting their implied fair value from A$3.05 to A$2.13 as they factor in a higher discount rate, more moderate revenue growth, slightly lower profit margins and a reduced future P/E multiple. What's in the News ReadyTech Holdings issued earnings guidance for fiscal year 2026, projecting revenue in the range of A$125 million to A$127 million (Key Developments).
BVS
AU$2.00
Bravura Solutions
7D
-8.3%
1Y
-10.3%

BVS: Higher Earnings Visibility And Margins May Support Future Share Rebound

Analysts have raised their Bravura Solutions price target from A$3.40 to A$3.66, citing updated assumptions around revenue trends, margins and future P/E that they believe better align the valuation with the company’s earnings profile. Analyst Commentary Bullish analysts point to the revised A$3.66 price target as a reflection of updated views on Bravura Solutions' revenue trends, margins and P/E alignment with its current earnings profile.
360
AU$19.78
Life360
7D
-9.6%
1Y
-5.8%

360: Index Addition And Ride Partnership Will Support Future Upside

Analysts have reduced their Life360 price target from A$42.13 to A$38.46, reflecting updated views on growth, margins and the price-to-earnings ratio they are prepared to apply to the stock. What's in the News Life360 issued revenue guidance for fiscal 2026, with expected consolidated revenue of $640 million to $680 million, including subscription revenue of $460 million to $470 million, other revenue of $140 million to $160 million, and hardware revenue of $40 million to $50 million (Corporate Guidance).
IRE
AU$6.90
Iress
7D
-8.6%
1Y
-14.9%
WTC
AU$47.57
WiseTech Global
7D
-9.8%
1Y
-44.0%
XRO
AU$80.53
Xero
7D
-8.1%
1Y
-48.8%

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.
HTG
AU$0.013
Harvest Technology Group
7D
18.2%
1Y
-7.1%
TNE
AU$26.44
Technology One
7D
-3.3%
1Y
-5.2%

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.
IOV
AU$0.28
Ion Video
7D
12.0%
1Y
180.0%
IS3
AU$0.008
I Synergy Group
7D
14.3%
1Y
100.0%
3DP
AU$0.038
Pointerra
7D
8.6%
1Y
-49.3%
SDR
AU$3.19
SiteMinder
7D
-10.1%
1Y
-30.7%
ESK
AU$0.56
Etherstack
7D
9.9%
1Y
91.4%
ASV
AU$0.037
Asset Vision Co
7D
2.8%
1Y
15.6%
ID8
AU$0.008
Identitii
7D
14.3%
1Y
0%