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Australian (ASX) Application Software Industry Analysis

UpdatedMar 21, 2026
DataAggregated Company Financials
Companies64
  • 7D-5.3%
  • 3M-31.1%
  • 1Y-37.5%
  • YTDn/a

Over the last 7 days, the Application Software industry has dropped 6.4%, driven by a pullback from WiseTech Global of 9.9%. The industry has fallen 39% 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, 21 Mar 2026AU$51.6bAU$8.4bAU$806.1m22.3x64x6.2x
Mon, 16 Feb 2026AU$51.0bAU$7.9bAU$656.9m28.2x77.7x6.4x
Wed, 14 Jan 2026AU$72.4bAU$8.0bAU$706.2m34.6x102.5x9x
Fri, 12 Dec 2025AU$75.4bAU$8.1bAU$709.9m35.8x106.3x9.3x
Sun, 09 Nov 2025AU$84.9bAU$7.9bAU$693.7m35.8x122.4x10.7x
Tue, 07 Oct 2025AU$99.3bAU$7.9bAU$693.8m34.6x143.1x12.5x
Thu, 04 Sep 2025AU$95.0bAU$8.0bAU$701.0m33.4x135.5x11.9x
Sat, 02 Aug 2025AU$105.0bAU$7.8bAU$590.6m75.5x177.7x13.4x
Mon, 30 Jun 2025AU$99.2bAU$7.8bAU$590.0m77x168.1x12.6x
Wed, 28 May 2025AU$98.6bAU$7.9bAU$592.4m96.3x166.5x12.5x
Fri, 25 Apr 2025AU$80.1bAU$7.7bAU$538.2m61.1x148.9x10.5x
Sun, 23 Mar 2025AU$80.4bAU$7.8bAU$470.0m59.6x171x10.4x
Tue, 18 Feb 2025AU$101.7bAU$7.5bAU$417.3m55x243.7x13.6x
Thu, 16 Jan 2025AU$92.8bAU$7.5bAU$361.5m70.6x256.6x12.4x
Sat, 14 Dec 2024AU$97.0bAU$7.5bAU$348.6m66.2x278.3x12.9x
Mon, 11 Nov 2024AU$95.5bAU$7.3bAU$282.3m64.2x338.4x13.2x
Wed, 09 Oct 2024AU$92.9bAU$7.2bAU$285.1m63.8x325.8x12.8x
Fri, 06 Sep 2024AU$87.5bAU$7.4bAU$280.6m65.6x311.9x11.9x
Sun, 04 Aug 2024AU$74.9bAU$7.1b-AU$97,667,071.2661.4x-767.1x10.5x
Tue, 02 Jul 2024AU$82.9bAU$7.6bAU$2.4m60.8x35105x10.9x
Thu, 30 May 2024AU$82.6bAU$7.6b-AU$1,206,190.3761.6x-68441.7x10.8x
Sat, 27 Apr 2024AU$77.6bAU$7.5b-AU$272,733,841.2463.2x-284.3x10.4x
Mon, 25 Mar 2024AU$81.9bAU$7.5b-AU$287,690,781.9861.3x-284.8x11x
Wed, 21 Feb 2024AU$71.5bAU$7.3b-AU$664,367,179.8452.3x-107.6x9.8x
Fri, 19 Jan 2024AU$67.4bAU$8.1b-AU$927,603,827.0058.4x-72.7x8.3x
Sun, 17 Dec 2023AU$68.2bAU$8.1b-AU$926,220,854.0060.6x-73.7x8.4x
Tue, 14 Nov 2023AU$61.8bAU$8.1b-AU$980,898,978.0056.3x-63x7.6x
Thu, 12 Oct 2023AU$65.9bAU$7.8b-AU$988,938,946.0058.4x-66.6x8.4x
Sat, 09 Sep 2023AU$68.4bAU$7.8b-AU$994,943,277.0060.8x-68.8x8.8x
Mon, 07 Aug 2023AU$74.0bAU$7.5b-AU$764,858,835.0051.7x-96.7x9.9x
Wed, 05 Jul 2023AU$68.9bAU$7.5b-AU$761,379,705.0050.6x-90.5x9.2x
Fri, 02 Jun 2023AU$67.9bAU$7.5b-AU$791,452,584.0045.7x-85.8x9.1x
Sun, 30 Apr 2023AU$62.0bAU$7.3b-AU$729,650,789.0048.1x-84.9x8.5x
Tue, 28 Mar 2023AU$58.2bAU$7.3b-AU$727,916,551.0043x-79.9x8x
Price to Earnings Ratio

-79.9x


Total Market Cap: AU$58.2bTotal Earnings: -AU$727,916,551.00Total Revenue: AU$7.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Application Software Industry Price to Earnings3Y Average 1589.2x202420252026
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 63.1x 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 6.1x.
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 4.8% 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-2.36%
Tech-4.42%
Software-5.38%
Application Software-5.32%
Systems Software-11.27%
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
TNE Technology OneAU$26.781.3%
+AU$111.0m		-5.9%PE63.5x
BVS Bravura SolutionsAU$2.052.5%
+AU$22.4m		-10.9%PE23.7x
VNL Vinyl GroupAU$0.08911.3%
+AU$12.5m		-15.2%PS6.8x
FCL FINEOS Corporation HoldingsAU$2.391.3%
+AU$10.3m		25.8%PE535.4x
DUG DUG TechnologyAU$2.063.8%
+AU$10.2m		87.3%PE124.3x

Latest News

NXL
AU$1.35
Nuix
7D
-17.7%
1Y
-58.5%
TNE
AU$26.78
Technology One
7D
1.3%
1Y
-5.9%

TNE: Higher Margin Outlook Will Support Future Upside Potential

Analysts have reduced their price target for Technology One from A$44.55 to A$40.32, citing updated assumptions for discount rate, revenue growth, profit margins and future P/E that result in a slight adjustment to the valuation outlook. Valuation Changes Fair Value: Adjusted from A$44.55 to A$40.32, indicating a modest reduction in the assessed value per share.
FCL
AU$2.39
FINEOS Corporation Holdings
7D
1.3%
1Y
25.8%
BVS
AU$2.05
Bravura Solutions
7D
2.5%
1Y
-10.9%

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.
BRN
AU$0.13
BrainChip Holdings
7D
-7.1%
1Y
-40.9%
HSN
AU$4.52
Hansen Technologies
7D
-11.2%
1Y
-8.9%

HSN: Fair Pricing Will Reflect Tighter Assumptions And 2026 Revenue Guidance

Analysts have kept their A$ price target for Hansen Technologies broadly in line with prior views, citing only minor tweaks to inputs such as the discount rate, revenue growth, profit margin and future P/E assumptions rather than any material shift in the investment case. What's in the News Hansen Technologies issued earnings guidance for the second half of 2026, giving investors a time frame to watch for the next set of financial results (Key Developments).
360
AU$18.08
Life360
7D
-8.6%
1Y
-15.1%

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$42.84
WiseTech Global
7D
-9.9%
1Y
-49.3%
DUG
AU$2.06
DUG Technology
7D
3.8%
1Y
87.3%

DUG: Higher Margin Assumptions Will Support Further Upside Potential

Analysts have adjusted their fair value estimate for DUG Technology from A$2.43 to A$2.48, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples. Valuation Changes Fair Value: updated from A$2.43 to A$2.48, representing a small upward adjustment in the modelled estimate.
XRO
AU$77.00
Xero
7D
-4.4%
1Y
-51.1%

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.
VNL
AU$0.089
Vinyl Group
7D
11.3%
1Y
-15.2%
CCR
AU$0.21
Credit Clear
7D
7.7%
1Y
-16.0%
COS
AU$0.23
COSOL
7D
12.5%
1Y
-72.2%
EIQ
AU$0.64
Echo IQ
7D
-8.6%
1Y
113.3%
IS3
AU$0.011
I Synergy Group
7D
37.5%
1Y
n/a
SDR
AU$2.85
SiteMinder
7D
-10.7%
1Y
-38.8%