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Australian (ASX) Application Software Industry Analysis

UpdatedMar 18, 2026
DataAggregated Company Financials
Companies64
  • 7D-9.3%
  • 3M-27.0%
  • 1Y-36.1%
  • YTDn/a

Over the last 7 days, the Application Software industry has dropped 7.6%, driven by WiseTech Global declining 11%. In contrast, IODM has gained 15%. Overall the industry is down 34% in 12 months. 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
Wed, 18 Mar 2026AU$52.6bAU$8.4bAU$804.6m23.3x65.3x6.3x
Fri, 13 Feb 2026AU$54.9bAU$7.9bAU$653.7m30x83.9x6.9x
Sun, 11 Jan 2026AU$72.7bAU$8.0bAU$706.1m35.3x103x9x
Tue, 09 Dec 2025AU$78.7bAU$8.1bAU$710.4m31.7x110.8x9.7x
Thu, 06 Nov 2025AU$86.6bAU$7.9bAU$695.4m35.8x124.5x10.9x
Sat, 04 Oct 2025AU$100.8bAU$7.9bAU$695.6m35.2x144.9x12.7x
Mon, 01 Sep 2025AU$101.3bAU$8.0bAU$697.5m33.6x145.2x12.7x
Wed, 30 Jul 2025AU$106.9bAU$7.8bAU$587.8m75.7x181.8x13.7x
Fri, 27 Jun 2025AU$98.4bAU$7.8bAU$589.4m77x167x12.6x
Sun, 25 May 2025AU$95.6bAU$7.9bAU$590.0m95x162x12.1x
Tue, 22 Apr 2025AU$78.1bAU$7.8bAU$469.3m61.3x166.3x10.1x
Thu, 20 Mar 2025AU$79.1bAU$7.7bAU$467.9m58.6x169x10.2x
Sat, 15 Feb 2025AU$101.8bAU$7.5bAU$416.6m54.9x244.3x13.6x
Mon, 13 Jan 2025AU$98.5bAU$7.5bAU$352.1m70.4x279.6x13.1x
Wed, 11 Dec 2024AU$98.6bAU$7.5bAU$358.7m64.5x274.8x13.1x
Fri, 08 Nov 2024AU$94.0bAU$7.2bAU$282.8m64.7x332.3x13x
Sun, 06 Oct 2024AU$92.1bAU$7.2bAU$286.0m66.1x322x12.7x
Tue, 03 Sep 2024AU$87.1bAU$7.4bAU$268.4m66.5x324.5x11.8x
Thu, 01 Aug 2024AU$85.2bAU$7.6bAU$8.8m63.5x9731.1x11.2x
Sat, 29 Jun 2024AU$85.3bAU$7.6bAU$2.4m61.1x34899.4x11.2x
Mon, 27 May 2024AU$83.0bAU$7.6b-AU$1,319,031.3261.3x-62890x10.9x
Wed, 24 Apr 2024AU$78.1bAU$7.5b-AU$273,121,031.0763.2x-286x10.4x
Fri, 22 Mar 2024AU$81.6bAU$7.5b-AU$287,605,494.7060.4x-283.7x10.9x
Sun, 18 Feb 2024AU$72.7bAU$7.5b-AU$654,011,123.6352.5x-111.2x9.7x
Tue, 16 Jan 2024AU$67.9bAU$8.1b-AU$926,831,919.0059.5x-73.3x8.4x
Thu, 14 Dec 2023AU$66.3bAU$8.1b-AU$927,283,821.0059.2x-71.5x8.1x
Sat, 11 Nov 2023AU$61.8bAU$8.1b-AU$981,429,551.0055.2x-62.9x7.6x
Mon, 09 Oct 2023AU$63.6bAU$7.8b-AU$989,150,060.0057.8x-64.3x8.1x
Wed, 06 Sep 2023AU$69.7bAU$7.8b-AU$995,242,086.0062.5x-70.1x8.9x
Fri, 04 Aug 2023AU$73.1bAU$7.5b-AU$765,526,274.0051.5x-95.5x9.8x
Sun, 02 Jul 2023AU$70.0bAU$7.5b-AU$761,519,899.0047.8x-92x9.4x
Tue, 30 May 2023AU$67.1bAU$7.5b-AU$791,815,675.0044.1x-84.8x9x
Thu, 27 Apr 2023AU$61.8bAU$7.3b-AU$729,567,876.0047.2x-84.7x8.5x
Sat, 25 Mar 2023AU$57.9bAU$7.3b-AU$727,927,823.0045x-79.5x8x
Price to Earnings Ratio

-79.5x


Total Market Cap: AU$57.9bTotal Earnings: -AU$727,927,823.00Total Revenue: AU$7.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Application Software Industry Price to Earnings3Y Average 1588.8x202420252026
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 67.1x 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 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-1.20%
Tech-6.81%
Software-9.20%
Application Software-9.26%
Systems Software-3.62%
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
IOD IODMAU$0.2014.7%
+AU$15.9m		21.9%PS31.8x
CCR Credit ClearAU$0.2212.8%
+AU$13.0m		-6.4%PE23.3x
IS3 I Synergy GroupAU$0.00928.6%
+AU$3.5m		125.0%PS19.3x
PHX PharmX TechnologiesAU$0.124.5%
+AU$3.3m		51.3%PS9.9x
IOV Ion VideoAU$0.2913.5%
+AU$3.3m		195.0%PS41.5x

Latest News

CAT
AU$3.29
Catapult Sports
7D
-15.6%
1Y
-5.5%

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$1.23
ReadyTech Holdings
7D
1.7%
1Y
-54.5%

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).
IOD
AU$0.20
IODM
7D
14.7%
1Y
21.9%
OCL
AU$12.51
Objective
7D
-9.0%
1Y
-16.2%

OCL: Share Buyback And Upcoming Distribution Will Support Long Term Returns

Analysts have reduced their price target for the stock from A$25.00 to A$22.10, reflecting updated assumptions for slightly higher discount rates, more moderate revenue growth, a marginally lower profit margin, and a small adjustment to future P/E expectations. What's in the News Objective Corporation Limited declared an ordinary unfranked distribution of A$0.13 per share for the six month period ended 31 December 2025, with an ex date of 6 March 2026, record date of 9 March 2026, and payment date of 17 March 2026 (Key Developments).
360
AU$18.94
Life360
7D
-15.9%
1Y
-10.2%

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).
WTC
AU$45.23
WiseTech Global
7D
-11.5%
1Y
-46.7%
XRO
AU$77.62
Xero
7D
-7.3%
1Y
-50.8%

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.
CCR
AU$0.22
Credit Clear
7D
12.8%
1Y
-6.4%
ICE
AU$0.035
icetana
7D
16.7%
1Y
94.4%
EIQ
AU$0.57
Echo IQ
7D
-20.8%
1Y
83.9%
TNE
AU$25.66
Technology One
7D
-6.5%
1Y
-7.9%

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$0.29
Ion Video
7D
13.5%
1Y
195.0%
IS3
AU$0.009
I Synergy Group
7D
28.6%
1Y
125.0%
PHX
AU$0.12
PharmX Technologies
7D
4.5%
1Y
51.3%
SDR
AU$3.11
SiteMinder
7D
-11.4%
1Y
-32.5%
ASV
AU$0.038
Asset Vision Co
7D
11.8%
1Y
-5.0%