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Australian (ASX) Software Industry Analysis

UpdatedJun 22, 2026
DataAggregated Company Financials
Companies69
  • 7D-0.9%
  • 3M0.4%
  • 1Y-50.2%
  • YTD-30.4%

The Software is pretty flat in the last 7 days, but Life360 has stood out, gaining 9.5%. Unfortunately though, the industry is down 50% over the past 12 months. As for the next few years, earnings are expected to grow by 26% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 22 Jun 2026AU$51.9bAU$9.0bAU$632.3m24.8x82.1x5.8x
Wed, 20 May 2026AU$51.1bAU$8.9bAU$646.8m22.7x79x5.7x
Fri, 17 Apr 2026AU$56.3bAU$8.4bAU$724.7m24x77.7x6.7x
Sun, 15 Mar 2026AU$55.0bAU$8.6bAU$736.0m22.2x74.7x6.4x
Tue, 10 Feb 2026AU$58.1bAU$8.1bAU$637.4m34.6x91.1x7.2x
Thu, 08 Jan 2026AU$73.3bAU$8.2bAU$650.4m36.5x112.7x9x
Sat, 06 Dec 2025AU$79.8bAU$8.2bAU$656.3m34.4x121.5x9.7x
Mon, 03 Nov 2025AU$89.4bAU$8.1bAU$634.7m36.4x140.9x11x
Wed, 01 Oct 2025AU$99.6bAU$8.1bAU$634.9m34.9x156.9x12.3x
Fri, 29 Aug 2025AU$100.7bAU$8.2bAU$649.8m30.5x155x12.3x
Sun, 27 Jul 2025AU$106.9bAU$8.0bAU$545.8m74.1x195.8x13.4x
Tue, 24 Jun 2025AU$100.2bAU$8.0bAU$542.2m74.1x184.8x12.5x
Thu, 22 May 2025AU$96.6bAU$8.0bAU$540.3m95.7x178.7x12x
Sat, 19 Apr 2025AU$78.5bAU$7.9bAU$418.3m61.3x187.7x9.9x
Mon, 17 Mar 2025AU$80.6bAU$7.9bAU$415.5m57.3x194.1x10.2x
Wed, 12 Feb 2025AU$101.9bAU$7.6bAU$279.4m70.1x364.6x13.3x
Fri, 10 Jan 2025AU$99.5bAU$7.7bAU$271.5m69.3x366.6x12.9x
Sun, 08 Dec 2024AU$103.6bAU$7.7bAU$285.2m64.5x363.3x13.5x
Tue, 05 Nov 2024AU$92.2bAU$7.4bAU$210.1m64.7x438.7x12.5x
Thu, 03 Oct 2024AU$95.9bAU$7.4bAU$202.6m71.2x473.2x13x
Sat, 31 Aug 2024AU$86.6bAU$7.5bAU$188.1m68x460.4x11.5x
Mon, 29 Jul 2024AU$83.5bAU$7.7b-AU$90,291,224.9560.6x-925.2x10.9x
Wed, 26 Jun 2024AU$82.9bAU$7.8b-AU$92,834,299.9862.8x-893x10.7x
Fri, 24 May 2024AU$84.4bAU$7.8b-AU$97,442,941.0461.6x-866.6x10.9x
Sun, 21 Apr 2024AU$76.4bAU$7.6b-AU$369,339,416.3363.2x-206.9x10x
Tue, 19 Mar 2024AU$81.8bAU$7.6b-AU$389,559,551.5361.7x-210x10.7x
Thu, 15 Feb 2024AU$68.0bAU$7.6b-AU$767,845,244.7956x-88.6x8.9x
Sat, 13 Jan 2024AU$68.5bAU$8.4b-AU$1,047,848,242.0059.6x-65.3x8.2x
Mon, 11 Dec 2023AU$65.4bAU$8.4b-AU$1,048,232,749.0060.4x-62.3x7.8x
Wed, 08 Nov 2023AU$64.1bAU$8.2b-AU$1,167,709,794.0054.5x-54.9x7.8x
Fri, 06 Oct 2023AU$65.2bAU$8.1b-AU$1,112,011,516.0057.2x-58.6x8x
Sun, 03 Sep 2023AU$70.3bAU$8.1b-AU$1,106,793,792.0063.3x-63.5x8.7x
Tue, 01 Aug 2023AU$74.3bAU$7.7b-AU$889,874,930.0052.7x-83.5x9.6x
Thu, 29 Jun 2023AU$67.9bAU$7.7b-AU$901,861,444.0046.9x-75.3x8.8x
Price to Earnings Ratio

-75.3x


Total Market Cap: AU$67.9bTotal Earnings: -AU$901,861,444.00Total Revenue: AU$7.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Software Industry Price to Earnings3Y Average 32.3x202420252026
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 82.1x which is higher than its 3-year average PE of 32.2x.
  • The 3-year average PS ratio of 10.1x is higher than the industry's current PS ratio of 5.8x.
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 Market0.56%
Tech1.23%
Software-0.87%
Application Software-0.82%
Systems Software-6.26%
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 25.7%, 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
360 Life360AU$23.849.5%
+AU$500.8m		-25.4%PE27.2x
SDR SiteMinderAU$4.058.3%
+AU$87.4m		-12.9%PS4.5x
EIQ Echo IQAU$1.236.5%
+AU$49.6m		456.8%PS8905.1x
CAT Catapult SportsAU$3.162.6%
+AU$24.4m		-44.7%PS4.8x
DUG DUG TechnologyAU$2.285.1%
+AU$14.9m		65.8%PE136.3x

Latest News

SDR
AU$4.05
SiteMinder
7D
8.3%
1Y
-12.9%
Analysis Article • Jun 20

SiteMinder (ASX:SDR) Shares Could Be 18.3% Below Fair Value After Trading Rally

SiteMinder (ASX:SDR) has moved into focus after a double digit share price gain on high trading volume, as investors weigh its hotel commerce SaaS platform, its recurring revenue model, and its progress on key partnerships. See our latest analysis for SiteMinder. The recent spike in trading follows a sharp 45.68% 30 day share price return and 42.11% 90 day share price return, even though SiteMinder’s year to date share price return is down 33.82% and its 1 year total shareholder return is...
360
AU$23.84
Life360
7D
9.5%
1Y
-25.4%
Analysis Article • Jun 18

Life360 (ASX:360) Shares Could Be 27.7% Undervalued After Uber Ride Integration

Life360 (ASX:360) stock is in focus after the company rolled out the next phase of its partnership with Uber, adding in app tools for coordinating teen and family rides at the end of the school year. See our latest analysis for Life360. Life360’s A$22.45 share price comes after a 24.7% 30 day share price return and a 24.2% 90 day share price return, yet the share price remains down 30.8% year to date, while the 3 year total shareholder return of about 3x and 5 year total shareholder return of...
XRO
AU$71.88
Xero
7D
-2.2%
1Y
-62.9%
Analysis Article • Jun 18

Xero (ASX:XRO) Shares Could Be 46.3% Undervalued After Melio AI Payments Launch

Melio’s launch of an agent powered payment network is drawing attention back to Xero (ASX:XRO), as investors assess what agentic AI in B2B payments could mean for the group’s broader small business platform. See our latest analysis for Xero. Despite the Melio news sharpening interest in Xero’s role in small business payments, the stock’s recent momentum has been weak, with the 30 day share price return down 8.88% and the 1 year total shareholder return down 62.66%. This points to a market...
HSN
AU$4.40
Hansen Technologies
7D
-3.5%
1Y
-13.0%
Narrative Update • Jun 17

HSN: Cloud CIS Deals And AI Virtual Agent Will Support Upside Potential

Analysts have kept their Hansen Technologies price target broadly steady in A$ terms, reflecting only marginal tweaks to the discount rate, revenue growth, profit margin and future P/E assumptions rather than a material change in their outlook. What’s in the News for Hansen Technologies 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, including web and mobile self-service.
DUG
AU$2.28
DUG Technology
7D
5.1%
1Y
65.8%
Narrative Update • Jun 17

DUG: Firmer Margins And Earnings Outlook Will Support A Stronger Share Price

Analysts have slightly raised their price target for DUG Technology to A$2.47 from A$2.43, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E. What’s in the News for DUG Technology No recent company specific news items for DUG Technology were identified in the provided sources.
EIQ
AU$1.23
Echo IQ
7D
6.5%
1Y
456.8%
RDY
AU$1.57
ReadyTech Holdings
7D
7.9%
1Y
-28.5%
Narrative Update • Jun 15

RDY: Fair Value View Balances Margin Execution Risks And Rejected A$2 Cash Offer

Analysts have trimmed their price target on ReadyTech Holdings to A$18.31 from A$18.58, reflecting updated assumptions for slightly higher revenue growth, modestly stronger profit margins and a small adjustment to the discount rate. Analyst Commentary Recent adjustments to the A$18.31 price target highlight that some bearish analysts are taking a more cautious stance on ReadyTech Holdings, even while updating their models for slightly firmer revenue and margin assumptions.
OCL
AU$10.20
Objective
7D
-5.6%
1Y
-44.4%
Narrative Update • Jun 12

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

Analysts have kept the A$15.93 price target broadly unchanged, making only minor adjustments to the discount rate and forward P/E assumptions to reflect updated views on the stock's risk profile and valuation multiples. What's in the News No recent Objective specific news items have been provided, so there are currently no discrete events to highlight for readers.
BVS
AU$2.15
Bravura Solutions
7D
-4.0%
1Y
-2.7%
Narrative Update • Jun 11

BVS: Reaffirmed Fair Value And Execution Outlook Will Support Future Share Performance

Narrative Update on Bravura Solutions Analysts have nudged their price targets for Bravura Solutions higher, reflecting updated modelling that keeps fair value steady at A$2.68 while incorporating slightly revised assumptions for discount rate, revenue growth, profit margin and future P/E. Analyst Commentary Recent commentary around Bravura Solutions focuses on how well the company can execute against the assumptions that sit behind the A$2.68 fair value, particularly around growth, profitability and the risk profile used in discounting future cash flows.
FCL
AU$2.00
FINEOS Corporation Holdings
7D
-4.3%
1Y
-9.5%
NXL
AU$1.27
Nuix
7D
-8.7%
1Y
-42.2%
Narrative Update • Jun 07

NXL: Execution Improvements Will Support Retention And Contract Value Upside

Analysts have kept their fair value estimate for Nuix steady at A$2.20, with only small adjustments to the discount rate, revenue growth, profit margin, and future P/E assumptions guiding this unchanged price target. What's in the News No recent company specific news items for Nuix have been provided in the available sources.
CAT
AU$3.16
Catapult Sports
7D
2.6%
1Y
-44.7%
Narrative Update • Jun 07

CAT: Women’s Football Partnership And Performance Analytics Platform Will Support Future Upside

Analysts have nudged their price target for Catapult Sports slightly higher to A$5.57, citing updates to fair value, discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News Mercury13, a multi club ownership group focused on women's football, has entered a multi year partnership with Catapult Sports as its exclusive Official Elite Sports Performance Analytics and GPS Partner, and non exclusive Official Thought Leadership Partner.
TNE
AU$29.97
Technology One
7D
-4.2%
1Y
-26.1%
Narrative Update • Jun 06

TNE: Future Returns Will Rely On Dividends And Stable Market Expectations

Analysts have trimmed their price target for Technology One to around A$31.04 from about A$31.47, citing updated assumptions for slightly higher revenue growth, profit margins and a lower future P/E multiple. What's in the News Technology One announced an ordinary fully paid dividend of A$0.08 per security for the six months ended March 31, 2026, covering its latest half year period.
WTC
AU$36.88
WiseTech Global
7D
-1.7%
1Y
-65.6%
Narrative Update • Jun 05

WTC: AI Restructuring And Reaffirmed 2026 Guidance Will Support Share Recovery

Analysts have reduced their WiseTech Global price target to about A$74.50 from roughly A$91.60, citing slightly softer revenue growth assumptions, a marginally higher discount rate, tighter profit margin expectations and a lower future P/E multiple in their valuation work. Analyst Commentary Recent research on WiseTech Global highlights a mix of optimism about the company’s long term growth potential and caution around valuation and execution risk, which helps frame the reduced A$74.50 price target.
IOV
AU$0.55
Ion Video
7D
26.7%
1Y
445.0%
PHX
AU$0.13
PharmX Technologies
7D
8.3%
1Y
42.9%