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Australian (ASX) Software Industry Analysis

UpdatedJun 29, 2026
DataAggregated Company Financials
Companies69
  • 7D-5.6%
  • 3M0.8%
  • 1Y-52.5%
  • YTD-34.3%

Over the last 7 days, the Software industry has dropped 5.6%, driven by declines in Technology One and Bravura Solutions of 0.4% and 3.3%, respectively. On the other hand WiseTech Global is actually up 12%. Overall the industry is down 52% in 12 months. Earnings are forecast to grow by 25% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 29 Jun 2026AU$49.0bAU$9.0bAU$638.5m23.2x76.8x5.5x
Wed, 27 May 2026AU$51.3bAU$8.9bAU$623.5m22x82.3x5.8x
Fri, 24 Apr 2026AU$56.1bAU$8.4bAU$726.8m24.9x77.2x6.7x
Sun, 22 Mar 2026AU$52.1bAU$8.6bAU$734.9m22.3x70.9x6.1x
Tue, 17 Feb 2026AU$55.3bAU$8.1bAU$602.3m29.5x91.8x6.9x
Thu, 15 Jan 2026AU$73.3bAU$8.2bAU$652.8m33.9x112.3x8.9x
Sat, 13 Dec 2025AU$76.0bAU$8.2bAU$655.1m35.8x115.9x9.2x
Mon, 10 Nov 2025AU$85.9bAU$8.1bAU$635.0m35.8x135.3x10.6x
Wed, 08 Oct 2025AU$100.0bAU$8.1bAU$634.8m35.2x157.5x12.4x
Fri, 05 Sep 2025AU$97.5bAU$8.1bAU$642.8m33x151.7x12x
Sun, 03 Aug 2025AU$105.9bAU$8.0bAU$549.8m75.5x192.6x13.2x
Tue, 01 Jul 2025AU$99.9bAU$8.0bAU$537.5m77.7x185.8x12.5x
Thu, 29 May 2025AU$100.2bAU$8.1bAU$541.7m98.6x184.9x12.4x
Sat, 26 Apr 2025AU$80.7bAU$7.8bAU$485.6m61.1x166.2x10.3x
Mon, 24 Mar 2025AU$81.0bAU$7.9bAU$418.3m59.6x193.7x10.2x
Wed, 19 Feb 2025AU$102.5bAU$7.6bAU$345.8m54.8x296.3x13.4x
Fri, 17 Jan 2025AU$93.5bAU$7.6bAU$287.2m67.3x325.3x12.2x
Sun, 15 Dec 2024AU$97.7bAU$7.7bAU$274.6m66.2x355.7x12.7x
Tue, 12 Nov 2024AU$97.7bAU$7.4bAU$210.0m64x464.9x13.2x
Thu, 10 Oct 2024AU$94.9bAU$7.4bAU$211.7m66.1x448.3x12.9x
Sat, 07 Sep 2024AU$87.6bAU$7.5bAU$206.0m66.4x425.4x11.7x
Mon, 05 Aug 2024AU$75.5bAU$7.3b-AU$194,683,857.2661.4x-387.6x10.3x
Wed, 03 Jul 2024AU$83.3bAU$7.8b-AU$94,536,779.2157.7x-881.2x10.7x
Fri, 31 May 2024AU$83.2bAU$7.8b-AU$96,773,549.0761.8x-859.7x10.7x
Sun, 28 Apr 2024AU$78.2bAU$7.6b-AU$368,532,763.9063.2x-212.1x10.3x
Tue, 26 Mar 2024AU$82.4bAU$7.6b-AU$389,214,615.5662.3x-211.6x10.8x
Thu, 22 Feb 2024AU$75.1bAU$7.6b-AU$565,409,213.3151.5x-132.8x9.9x
Sat, 20 Jan 2024AU$69.9bAU$8.4b-AU$1,048,317,414.0058.8x-66.6x8.3x
Mon, 18 Dec 2023AU$68.8bAU$8.4b-AU$1,047,331,166.0060.6x-65.7x8.2x
Wed, 15 Nov 2023AU$63.0bAU$8.3b-AU$1,103,965,443.0056.3x-57x7.6x
Fri, 13 Oct 2023AU$66.7bAU$8.1b-AU$1,111,788,865.0059.5x-60x8.2x
Sun, 10 Sep 2023AU$69.0bAU$8.1b-AU$1,117,989,757.0060.7x-61.8x8.5x
Tue, 08 Aug 2023AU$74.5bAU$7.7b-AU$892,256,180.0051.4x-83.5x9.6x
Thu, 06 Jul 2023AU$69.3bAU$7.7b-AU$890,413,119.0050.7x-77.9x9x
Price to Earnings Ratio

-77.9x


Total Market Cap: AU$69.3bTotal Earnings: -AU$890,413,119.00Total Revenue: AU$7.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Software Industry Price to Earnings3Y Average 33.3x202420252026
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 76.8x which is higher than its 3-year average PE of 33.3x.
  • The 3-year average PS ratio of 10.1x is higher than the industry's current PS ratio of 5.5x.
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 5.2% 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 Market-0.91%
Tech-5.26%
Software-5.60%
Application Software-5.55%
Systems Software-11.11%
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 25.2%, 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 25% 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$33.8212.4%
+AU$1.2b		-69.0%PE47.9x
360 Life360AU$26.2713.3%
+AU$748.7m		-18.4%PE29.5x
XRO XeroAU$72.185.2%
+AU$607.2m		-59.9%PE89.7x
EIQ Echo IQAU$1.5929.3%
+AU$237.9m		622.7%PS11558.5x
FCL FINEOS Corporation HoldingsAU$2.209.5%
+AU$65.5m		-5.6%PE487.5x

Latest News

360
AU$26.27
Life360
7D
13.3%
1Y
-18.4%
TNE
AU$29.74
Technology One
7D
-0.4%
1Y
-27.5%
OCL
AU$10.47
Objective
7D
2.6%
1Y
-45.4%
Narrative Update • Jun 26

OCL: Lower Assumed Future P/E Will Likely Sustain Share Overvaluation

Analysts have trimmed their fair value estimate for the stock from A$8.98 to A$7.51, reflecting a lower assumed future P/E multiple and slightly softer profit margin expectations, while keeping revenue growth assumptions broadly similar. What's in the News for Objective No recent Objective specific news items were provided in the available sources.
IRE
AU$6.27
Iress
7D
2.0%
1Y
-21.6%
Narrative Update • Jun 26

IRE: New BitDelta Partnership Will Support Multi Asset Trading Upside

Analysts have trimmed their A$ price targets for Iress, citing a lower fair value estimate and a slightly higher discount rate, and also acknowledging updated assumptions for revenue contraction, profit margins and future P/E multiples. What’s in the News for Iress Iress announced a multi-year partnership with BitDelta Pro, aimed at extending its trading and market data capabilities across high growth international markets.
CCR
AU$0.16
Credit Clear
7D
-23.8%
1Y
-31.9%
Narrative Update • Jun 26

CCR: ACCC Proceedings Will Shape Future Upside Potential

Analysts have trimmed their Credit Clear fair value estimate from A$0.45 to A$0.35, reflecting updated assumptions for revenue growth, profit margins, and a slightly higher discount rate, which also feeds into a higher future P/E multiple. What’s in the News for Credit Clear The Australian Competition and Consumer Commission (ACCC) has commenced proceedings against Credit Clear subsidiaries ARMA Group Holdings Pty Ltd and Force Legal Pty Ltd over alleged contraventions of Australian Consumer Law related to debt collection communications between February 6, 2022 and September 26, 2025.
EIQ
AU$1.59
Echo IQ
7D
29.3%
1Y
622.7%
BVS
AU$2.02
Bravura Solutions
7D
-3.3%
1Y
-9.0%
Narrative Update • Jun 26

BVS: Refined Earnings And Margins Are Expected To Support Rebound

Analysts have modestly adjusted their price target for Bravura Solutions to A$3.66, reflecting updated assumptions on discount rate, revenue growth, profit margin and future P/E that keep their overall valuation view broadly unchanged. Analyst Commentary Bullish analysts looking at Bravura Solutions are primarily focused on how the refreshed valuation work, including the A$3.66 price target, lines up with the company’s ability to execute on its plans and sustain its earnings profile over time.
BRN
AU$0.15
BrainChip Holdings
7D
-3.1%
1Y
-20.5%
WTC
AU$33.82
WiseTech Global
7D
12.4%
1Y
-69.0%
Narrative Update • Jun 23

WTC: AI Restructuring And Reaffirmed 2026 Guidance Will Underpin Recovery Potential

Analysts have nudged their WiseTech Global fair value estimate higher to about A$75.22 from roughly A$74.50, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E as the basis for the refined price target. Analyst Commentary Recent commentary around WiseTech Global points to a mixed but engaged analyst community, with views clustering around how sustainable the company’s growth assumptions and margin profile may be and how that should feed into fair value.
PPS
AU$0.66
Praemium
7D
-4.3%
1Y
3.1%
Narrative Update • Jun 23

PPS: Slightly Higher Margins And Lower P/E Will Support Future Upside

Analysts have adjusted their price target for Praemium slightly to A$1.05. This reflects updated assumptions around the discount rate, revenue growth, profit margins and future P/E expectations.
XRO
AU$72.18
Xero
7D
5.2%
1Y
-59.9%
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$4.44
Hansen Technologies
7D
5.0%
1Y
-10.8%
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.
FCL
AU$2.20
FINEOS Corporation Holdings
7D
9.5%
1Y
-5.6%
ATV
AU$0.02
ActivePort Group
7D
-25.9%
1Y
122.2%
VR1
AU$0.018
Vection Technologies
7D
-18.2%
1Y
-51.4%
ROC
AU$0.24
RocketBoots
7D
-12.7%
1Y
196.3%