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Australian (ASX) Application Software Industry Analysis

UpdatedJan 08, 2026
DataAggregated Company Financials
Companies60
  • 7D-3.2%
  • 3M-26.7%
  • 1Y-29.4%
  • YTDn/a

Over the last 7 days, the Application Software industry has dropped 3.2%, driven by Xero declining 4.1%. In contrast, Nuix has gained 5.0%. The industry has fallen 29% 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
Fri, 09 Jan 2026AU$72.2bAU$8.0bAU$704.5m36.5x102.6x9x
Sun, 07 Dec 2025AU$78.9bAU$8.1bAU$709.9m34.4x111.2x9.8x
Tue, 04 Nov 2025AU$89.4bAU$7.9bAU$692.8m36.2x129.1x11.3x
Thu, 02 Oct 2025AU$99.1bAU$7.9bAU$694.1m34.3x142.8x12.5x
Sat, 30 Aug 2025AU$101.4bAU$8.1bAU$680.7m29.3x149x12.6x
Mon, 28 Jul 2025AU$106.0bAU$7.8bAU$585.9m74.1x180.9x13.6x
Wed, 25 Jun 2025AU$100.7bAU$7.8bAU$590.5m74.7x170.4x12.8x
Fri, 23 May 2025AU$94.4bAU$7.9bAU$592.4m93.5x159.4x12x
Sun, 20 Apr 2025AU$78.0bAU$7.8bAU$470.0m61.3x166x10x
Tue, 18 Mar 2025AU$80.1bAU$7.7bAU$466.7m58.7x171.7x10.4x
Thu, 13 Feb 2025AU$100.8bAU$7.5bAU$352.8m70.6x285.6x13.5x
Sat, 11 Jan 2025AU$98.5bAU$7.5bAU$352.3m70.4x279.5x13.1x
Mon, 09 Dec 2024AU$102.9bAU$7.5bAU$359.1m64.5x286.6x13.7x
Wed, 06 Nov 2024AU$91.2bAU$7.2bAU$282.7m64.2x322.4x12.6x
Fri, 04 Oct 2024AU$93.7bAU$7.2bAU$277.0m66.6x338.2x13x
Sun, 01 Sep 2024AU$86.1bAU$7.4bAU$280.3m67.8x307x11.7x
Tue, 30 Jul 2024AU$84.1bAU$7.5bAU$6.7m61.2x12596.1x11.1x
Thu, 27 Jun 2024AU$82.3bAU$7.6bAU$2.9m60.2x28292.6x10.8x
Sat, 25 May 2024AU$82.9bAU$7.6b-AU$1,303,745.2161.3x-63622.5x10.9x
Mon, 22 Apr 2024AU$75.8bAU$7.5b-AU$273,341,739.3363.2x-277.3x10.1x
Wed, 20 Mar 2024AU$81.2bAU$7.5b-AU$288,132,713.8662.3x-281.9x10.9x
Fri, 16 Feb 2024AU$72.1bAU$7.5b-AU$658,887,997.4456.2x-109.4x9.6x
Sun, 14 Jan 2024AU$67.8bAU$8.1b-AU$926,865,882.0059.6x-73.2x8.3x
Tue, 12 Dec 2023AU$64.8bAU$8.1b-AU$927,297,300.0060.7x-69.9x8x
Thu, 09 Nov 2023AU$64.7bAU$7.9b-AU$1,044,562,441.0057.3x-62x8.2x
Sat, 07 Oct 2023AU$63.6bAU$7.8b-AU$989,175,765.0057.8x-64.3x8.1x
Mon, 04 Sep 2023AU$69.7bAU$7.8b-AU$983,847,764.0063.3x-70.8x8.9x
Wed, 02 Aug 2023AU$74.3bAU$7.5b-AU$763,422,624.0052.5x-97.3x9.9x
Fri, 30 Jun 2023AU$69.5bAU$7.5b-AU$773,335,054.0046.9x-89.9x9.3x
Sun, 28 May 2023AU$67.4bAU$7.5b-AU$792,623,460.0044.4x-85x9x
Tue, 25 Apr 2023AU$62.0bAU$7.3b-AU$727,391,730.0047.3x-85.3x8.6x
Thu, 23 Mar 2023AU$58.3bAU$7.3b-AU$726,325,524.0044.1x-80.3x8x
Sat, 18 Feb 2023AU$56.2bAU$6.9b-AU$569,244,441.0052.3x-98.7x8.2x
Mon, 16 Jan 2023AU$53.1bAU$6.9b-AU$562,785,509.0051.9x-94.3x7.7x
Price to Earnings Ratio

-94.3x


Total Market Cap: AU$53.1bTotal Earnings: -AU$562,785,509.00Total Revenue: AU$6.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Application Software Industry Price to Earnings3Y Average 1577.4x202420252026
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 103x 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 9.0x.
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 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 Market-0.079%
Tech-1.61%
Software-3.01%
Application Software-3.18%
Systems Software10.55%
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
NXL NuixAU$1.895.0%
+AU$30.1m		-68.1%PS2.8x
CAT Catapult SportsAU$4.242.2%
+AU$27.1m		17.1%PS6.8x
BRN BrainChip HoldingsAU$0.185.7%
+AU$22.5m		-47.1%PS211.7x
EIQ Echo IQAU$0.287.7%
+AU$13.0m		9.8%PS1795.5x
SKK StakkAU$0.0369.1%
+AU$10.6m		350.0%PS102.3x

Latest News

EOL
AU$16.49
Energy One
7D
-5.0%
1Y
135.9%

EOL: Stable Assumptions And Index Inclusion Will Support Stronger Sentiment

Analysts have kept their price target for Energy One steady at A$21.66, with only very small adjustments to assumptions such as discount rate, revenue growth, profit margin and future P/E, reflecting broadly unchanged views on the company’s valuation drivers. Valuation Changes Fair Value: Held steady at A$21.66 per share, indicating no change in the central valuation estimate.
TNE
AU$27.60
Technology One
7D
-1.3%
1Y
-9.0%

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$0.035
Vection Technologies
7D
12.9%
1Y
-10.3%

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
IRE
AU$8.40
Iress
7D
-1.1%
1Y
-8.4%

IRE: Takeover Interest Will Drive Shares Toward Underappreciated Fair Value

Analysts have maintained their Iress fair value estimate at A$10.10, making only minor adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions. This reflects fine tuning of their model rather than a material change in their view.
NXL
AU$1.89
Nuix
7D
5.0%
1Y
-68.1%

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$16.24
Objective
7D
-1.6%
1Y
1.5%

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).
XRO
AU$109.36
Xero
7D
-4.1%
1Y
-36.1%

XRO: Higher Future Earnings Multiple Will Support Stronger Share Performance

Analysts have lowered their price target on Xero from approximately $240 to $231 per share. This reflects a higher assumed discount rate and a more conservative profit margin outlook, partially offset by stronger projected revenue growth and a higher future price-to-earnings multiple.
360
AU$32.79
Life360
7D
-2.2%
1Y
39.5%

360: Rising Earnings Guidance Will Likely Fail To Justify Elevated Price

Analysts have raised their fair value estimate for Life360 from approximately 27.32 dollars to 29.76 dollars, reflecting expectations for slightly faster revenue growth, improved profit margins, and a modestly lower future price to earnings multiple despite a small increase in the discount rate. What's in the News Life360, Inc.
WTC
AU$68.28
WiseTech Global
7D
-0.3%
1Y
-45.7%

WTC: Market Outlook Will Balance Higher Risk Assumptions With Stronger Profitability Expectations

Analysts have trimmed their price target on WiseTech Global by approximately A$9 per share. This reflects slightly higher discount rate assumptions, a modestly lower long term revenue growth outlook, and a more conservative future price to earnings multiple, partly offset by a marginally stronger expected profit margin.
BVS
AU$2.53
Bravura Solutions
7D
-1.6%
1Y
11.0%

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
5.7%
1Y
-47.1%
SKK
AU$0.036
Stakk
7D
9.1%
1Y
350.0%
CAT
AU$4.24
Catapult Sports
7D
2.2%
1Y
17.1%

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
7.7%
1Y
9.8%
FCL
AU$3.02
FINEOS Corporation Holdings
7D
0.7%
1Y
55.3%

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)
RUL
AU$4.98
RPMGlobal Holdings
7D
0.6%
1Y
69.4%