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Australian (ASX) Software Industry Analysis

UpdatedJun 04, 2026
DataAggregated Company Financials
Companies69
  • 7D10.0%
  • 3M0.6%
  • 1Y-45.5%
  • YTD-23.8%

The Software industry is up 10.0% in the last week, with WiseTech Global up 10%. Meanwhile, Qoria actually underperformed within the industry, shrinking 6.9% in the last week. In the past year, the industry is down 46%. Looking forward, earnings are forecast to grow by 26% annually.

Industry Valuation and Performance

Has the Australian Software Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 05 Jun 2026AU$56.9bAU$8.9bAU$625.0m26.4x91x6.4x
Sun, 03 May 2026AU$54.5bAU$8.4bAU$721.8m23.1x75.5x6.5x
Tue, 31 Mar 2026AU$48.6bAU$8.6bAU$743.5m21.2x65.3x5.7x
Thu, 26 Feb 2026AU$54.4bAU$8.0bAU$639.3m22.4x85.1x6.8x
Sat, 24 Jan 2026AU$70.5bAU$8.1bAU$646.3m32.6x109x8.7x
Mon, 22 Dec 2025AU$76.4bAU$8.2bAU$659.1m37.8x115.9x9.3x
Wed, 19 Nov 2025AU$75.2bAU$8.4bAU$676.4m36.7x111.2x9x
Fri, 17 Oct 2025AU$97.2bAU$8.1bAU$637.9m35.2x152.3x12x
Sun, 14 Sep 2025AU$100.2bAU$8.1bAU$637.5m33.1x157.2x12.4x
Tue, 12 Aug 2025AU$105.9bAU$8.0bAU$547.3m76x193.5x13.3x
Thu, 10 Jul 2025AU$102.4bAU$8.0bAU$535.6m75.5x191.2x12.8x
Sat, 07 Jun 2025AU$100.8bAU$8.0bAU$539.4m78.7x187x12.6x
Mon, 05 May 2025AU$87.8bAU$7.8bAU$481.5m67.9x182.4x11.3x
Wed, 02 Apr 2025AU$79.9bAU$7.9bAU$418.1m60.9x191.2x10.1x
Fri, 28 Feb 2025AU$88.5bAU$7.8bAU$367.8m39.7x240.7x11.4x
Sun, 26 Jan 2025AU$97.9bAU$7.6bAU$289.0m69.9x338.9x12.8x
Tue, 24 Dec 2024AU$98.1bAU$7.7bAU$268.2m70x365.6x12.7x
Thu, 21 Nov 2024AU$102.9bAU$7.7bAU$277.0m63.1x371.6x13.4x
Sat, 19 Oct 2024AU$91.4bAU$7.4bAU$212.0m64x431x12.4x
Mon, 16 Sep 2024AU$90.4bAU$7.4bAU$198.8m66.5x454.4x12.1x
Wed, 14 Aug 2024AU$74.8bAU$7.3b-AU$205,907,500.6558.9x-363.5x10.2x
Fri, 12 Jul 2024AU$86.3bAU$7.7b-AU$96,221,800.4961.5x-897.2x11.2x
Sun, 09 Jun 2024AU$83.5bAU$7.8b-AU$91,836,167.2360.9x-909x10.7x
Tue, 07 May 2024AU$80.6bAU$7.6b-AU$322,782,162.8263.2x-249.7x10.7x
Thu, 04 Apr 2024AU$78.4bAU$7.6b-AU$387,821,169.6761.7x-202.1x10.3x
Sat, 02 Mar 2024AU$81.1bAU$7.7b-AU$451,230,269.7858x-179.8x10.5x
Mon, 29 Jan 2024AU$69.7bAU$8.4b-AU$1,048,321,878.0060.7x-66.5x8.3x
Wed, 27 Dec 2023AU$68.8bAU$8.4b-AU$1,046,792,316.0060.7x-65.8x8.2x
Fri, 24 Nov 2023AU$63.8bAU$8.3b-AU$1,057,365,231.0058.5x-60.3x7.6x
Sun, 22 Oct 2023AU$62.3bAU$8.1b-AU$1,119,548,981.0057.3x-55.6x7.7x
Tue, 19 Sep 2023AU$67.8bAU$8.1b-AU$1,116,641,784.0059.5x-60.7x8.4x
Thu, 17 Aug 2023AU$72.5bAU$7.8b-AU$852,990,640.0049.9x-84.9x9.3x
Sat, 15 Jul 2023AU$71.7bAU$7.7b-AU$887,511,192.0048x-80.8x9.3x
Mon, 12 Jun 2023AU$67.3bAU$7.7b-AU$894,623,184.0049.5x-75.2x8.8x
Price to Earnings Ratio

-75.2x


Total Market Cap: AU$67.3bTotal Earnings: -AU$894,623,184.00Total Revenue: AU$7.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Software Industry Price to Earnings3Y Average 29.8x202420252026
Current Industry PE
  • Investors are optimistic on the Australian Software industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 91.0x which is higher than its 3-year average PE of 29.7x.
  • The 3-year average PS ratio of 10.2x is higher than the industry's current PS ratio of 6.4x.
Past Earnings Growth
  • Total earnings for the Software industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 5.0% per year.
  • This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Trends

Which industries have driven the changes within the Australian Tech industry?

AU Market0.79%
Tech8.53%
Software9.99%
Application Software10.14%
Systems Software-5.51%
Industry PE
  • Investors are most optimistic about the Application Software industry even though it's trading below its 3-year average PE ratio of 2kx.
    • Analysts are expecting annual earnings growth of 26.1%, which is higher than its past year's earnings growth of 10.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Systems Software industry, expecting annual earnings growth of 57% over the next 5 years.
  • In contrast, the Application Software industry is expected to see its earnings grow by 26% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
WTC WiseTech GlobalAU$40.1410.4%
+AU$1.3b		-62.3%PE58.8x
TNE Technology OneAU$32.3710.7%
+AU$1.0b		-23.6%PE74.7x
XRO XeroAU$80.407.9%
+AU$1.0b		-57.7%PE99.6x
360 Life360AU$21.6613.8%
+AU$639.3m		-34.9%PE25.2x
SDR SiteMinderAU$3.8417.1%
+AU$157.9m		-20.2%PS4.3x

Latest News

HSN
AU$4.60
Hansen Technologies
7D
-0.4%
1Y
-10.3%
Narrative Update • Jun 03

HSN: Cloud SaaS Deals And AI Customer Engagement Will Support Upside Potential

Analysts have nudged their price target on Hansen Technologies slightly higher to A$5.30, reflecting updated assumptions for revenue growth, profit margins and future P/E that are broadly consistent with prior estimates. What's in the News Hansen Technologies partnered with Los Angeles County Waterworks Districts to replace legacy customer information systems with a cloud-based SaaS platform focused on digital-first customer engagement and AI-driven service, as approved by the Los Angeles County Board of Supervisors in March 2026.
XRO
AU$80.40
Xero
7D
7.9%
1Y
-57.7%
Narrative Update • Jun 03

XRO: AI And Melio Integration Will Support Stronger Future Returns

Analysts have trimmed their Xero price target from A$230.38 to A$203.09 as they factor in adjusted assumptions around discount rates, revenue growth, profit margins, and future P/E expectations. What's in the News Xero reported FY26 operating revenue of about $2.75b to $2.8b, with US performance supported by the Melio acquisition and contributing to a very large uplift in US revenue and more than 110,000 new US customers.
DUG
AU$2.33
DUG Technology
7D
-1.3%
1Y
88.7%
Narrative Update • Jun 03

DUG: Higher P/E Assumptions And Softer Margins Will Define Fair Outlook

Analysts have nudged their price target for DUG Technology slightly higher to A$2.43 from A$2.42, reflecting updated assumptions for the discount rate, revenue growth, profit margins and future P/E multiples. What's in the News No recent company specific news items for DUG Technology are available from the provided sources.
SDR
AU$3.84
SiteMinder
7D
17.1%
1Y
-20.2%
WTC
AU$40.14
WiseTech Global
7D
10.4%
1Y
-62.3%
360
AU$21.66
Life360
7D
13.8%
1Y
-34.9%
Narrative Update • Jun 02

360: Record User Scale And Index Inclusion Will Support Bullish Repricing

Analysts have revised their A$ price target on Life360 from A$53.00 to A$39.00. This change reflects updated assumptions around slightly lower revenue growth, a higher discount rate, improved profit margin expectations, and a reduced future P/E multiple.
BRN
AU$0.19
BrainChip Holdings
7D
22.6%
1Y
-17.4%
Analysis Article • May 30

Here's Why We're Not Too Worried About BrainChip Holdings' (ASX:BRN) Cash Burn Situation

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although Amazon.com...
OCL
AU$11.08
Objective
7D
6.8%
1Y
-41.4%
Narrative Update • May 29

OCL: Stable Assumptions And Cash Distribution Will Support Longer Term Upside

Analysts have kept the A$ price target effectively unchanged, making only marginal adjustments to the discount rate and forward P/E assumptions that leave their overall valuation view steady. Valuation Changes Fair Value: A$15.93 remains unchanged, indicating no revision to the core valuation estimate.
HTG
AU$0.015
Harvest Technology Group
7D
-16.7%
1Y
-11.8%
IRE
AU$6.18
Iress
7D
4.9%
1Y
-28.4%
TNE
AU$32.37
Technology One
7D
10.7%
1Y
-23.6%
ACE
AU$1.19
Acusensus
7D
-9.2%
1Y
34.5%
QOR
AU$0.27
Qoria
7D
-6.9%
1Y
-37.9%
VNL
AU$0.06
Vinyl Group
7D
-10.4%
1Y
-53.8%
PHX
AU$0.13
PharmX Technologies
7D
-3.8%
1Y
35.9%
FLX
AU$0.055
Felix Group Holdings
7D
-21.4%
1Y
-72.5%