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Canadian (TSX) Software Industry Analysis

UpdatedFeb 11, 2026
DataAggregated Company Financials
Companies79
  • 7D3.8%
  • 3M-26.5%
  • 1Y-44.1%
  • YTD-23.0%

Over the last 7 days, the Software industry has dropped 2.3%, driven by a pullback from Topicus.com of 3.2%. On the other hand Constellation Software is actually up 6.6%. However, the industry is down 45% over the past year. Looking forward, earnings are forecast to grow by 24% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 11 Feb 2026CA$91.9bCA$25.8bCA$160.9m38.4x571x3.6x
Fri, 09 Jan 2026CA$119.6bCA$26.3bCA$147.3m47.3x812.5x4.5x
Sun, 07 Dec 2025CA$123.4bCA$26.3bCA$157.2m53.2x785x4.7x
Tue, 04 Nov 2025CA$133.9bCA$25.7bCA$248.7m54.4x538.4x5.2x
Thu, 02 Oct 2025CA$137.9bCA$25.5bCA$259.5m53.1x531.5x5.4x
Sat, 30 Aug 2025CA$154.0bCA$25.1bCA$234.3m63.7x657.3x6.1x
Mon, 28 Jul 2025CA$168.9bCA$24.3bCA$173.2m53.9x975.4x7x
Wed, 25 Jun 2025CA$163.7bCA$24.3bCA$159.7m41.1x1025.2x6.7x
Fri, 23 May 2025CA$163.3bCA$24.4bCA$919.1m34.7x177.7x6.7x
Sun, 20 Apr 2025CA$152.4bCA$23.9bCA$446.5m26.9x341.3x6.4x
Tue, 18 Mar 2025CA$152.4bCA$24.7bCA$89.1m26.2x1709.6x6.2x
Thu, 13 Feb 2025CA$162.2bCA$24.0b-CA$2,341,136,284.4230.6x-69.3x6.8x
Sat, 11 Jan 2025CA$148.6bCA$24.1b-CA$2,415,562,875.3140.8x-61.5x6.2x
Mon, 09 Dec 2024CA$158.6bCA$23.7b-CA$2,344,487,951.9244.1x-67.6x6.7x
Wed, 06 Nov 2024CA$143.5bCA$22.5b-CA$2,232,615,549.3741x-64.3x6.4x
Fri, 04 Oct 2024CA$143.8bCA$22.0b-CA$2,471,344,746.6340.1x-58.2x6.5x
Sun, 01 Sep 2024CA$143.4bCA$21.8b-CA$2,491,016,511.9244.7x-57.6x6.6x
Tue, 30 Jul 2024CA$148.3bCA$21.6b-CA$3,433,687,398.8647.8x-43.2x6.9x
Thu, 27 Jun 2024CA$132.8bCA$21.7b-CA$3,404,951,613.7643.3x-39x6.1x
Sat, 25 May 2024CA$130.0bCA$21.6b-CA$3,427,213,411.3456.7x-37.9x6x
Mon, 22 Apr 2024CA$127.7bCA$21.0b-CA$4,275,092,876.2336.2x-29.9x6.1x
Wed, 20 Mar 2024CA$122.7bCA$20.7b-CA$4,806,074,001.7329.1x-25.5x5.9x
Fri, 16 Feb 2024CA$122.3bCA$19.8b-CA$2,761,853,865.2324.6x-44.3x6.2x
Sun, 14 Jan 2024CA$120.1bCA$19.9b-CA$3,963,187,475.0028.5x-30.3x6.1x
Tue, 12 Dec 2023CA$115.0bCA$20.1b-CA$4,082,487,150.0025.9x-28.2x5.7x
Thu, 09 Nov 2023CA$102.7bCA$19.9b-CA$4,323,618,854.0069x-23.7x5.2x
Sat, 07 Oct 2023CA$101.8bCA$19.4b-CA$4,197,370,417.0055.5x-24.3x5.2x
Mon, 04 Sep 2023CA$105.6bCA$19.4b-CA$4,115,700,218.0059.2x-25.7x5.4x
Wed, 02 Aug 2023CA$103.8bCA$18.3b-CA$3,874,033,153.0072.7x-26.8x5.7x
Fri, 30 Jun 2023CA$102.5bCA$18.2b-CA$3,709,014,382.0072.4x-27.6x5.6x
Sun, 28 May 2023CA$100.1bCA$18.3b-CA$4,110,089,864.0076.3x-24.4x5.5x
Tue, 25 Apr 2023CA$97.6bCA$17.4b-CA$3,292,880,072.0034.6x-29.6x5.6x
Thu, 23 Mar 2023CA$89.3bCA$16.6b-CA$2,579,617,617.0037.1x-34.6x5.4x
Sat, 18 Feb 2023CA$90.2bCA$16.4b-CA$2,263,824,703.0035.9x-39.9x5.5x
Price to Earnings Ratio

-39.9x


Total Market Cap: CA$90.2bTotal Earnings: -CA$2,263,824,703.00Total Revenue: CA$16.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Software Industry Price to Earnings3Y Average 203.3x202420252026
Current Industry PE
  • Investors are optimistic on the Canadian Software industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 567x which is higher than its 3-year average PE of 203x.
  • The 3-year average PS ratio of 5.9x is higher than the industry's current PS ratio of 3.5x.
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 16% 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 Canadian Tech industry?

CA Market2.10%
Tech2.02%
Software3.84%
Application Software3.87%
Systems Software3.37%
Industry PE
  • Investors are most optimistic about the Application Software industry which is trading above its 3-year average PE ratio of 178x.
    • Analysts are expecting annual earnings growth of 24.1%, which is higher than its past year's earnings growth of 6.9% per year.
  • Investors are most pessimistic about the Systems Software industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 70.1x.
Forecasted Growth
  • Analysts are most optimistic on the Systems Software industry, expecting annual earnings growth of 33% over the next 5 years.
  • However this is lower than its past earnings growth rate of 111% per year.
  • In contrast, the Application Software industry is expected to see its earnings grow by 24% 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
CSU Constellation SoftwareCA$2.44k6.6%
+CA$3.2b		-50.0%PE55.5x
DSG Descartes Systems GroupCA$94.094.0%
+CA$314.7m		-44.5%PE38.4x
ABXX Abaxx TechnologiesCA$45.8414.6%
+CA$214.4m		355.7%PS2068.9x
KXS KinaxisCA$128.054.1%
+CA$139.6m		-23.6%PE74.9x
BB BlackBerryCA$4.772.8%
+CA$76.7m		-36.7%PE98.4x

Latest News

DSG
CA$94.09
Descartes Systems Group
7D
4.0%
1Y
-44.5%
TINY
CA$7.25
Tiny
7D
-11.4%
1Y
-34.3%

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Feb 10
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DND
CA$3.77
Dye & Durham
7D
-9.6%
1Y
-74.1%
ENGH
CA$18.01
Enghouse Systems
7D
2.0%
1Y
-35.0%

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LSPD
CA$12.53
Lightspeed Commerce
7D
-6.8%
1Y
-33.2%

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HIVE
CA$3.15
HIVE Digital Technologies
7D
-6.5%
1Y
-19.6%

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Feb 06
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KXS
CA$128.05
Kinaxis
7D
4.1%
1Y
-23.6%

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BITF
CA$2.99
Bitfarms
7D
-5.4%
1Y
59.0%

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DGX
CA$3.19
Digi Power X
7D
-16.1%
1Y
-31.4%
TOI
CA$90.41
Topicus.com
7D
-3.2%
1Y
-34.5%

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Feb 04
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CSU
CA$2,440.00
Constellation Software
7D
6.6%
1Y
-50.0%

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Feb 04
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BTQ
CA$4.05
BTQ Technologies
7D
5.2%
1Y
17.4%
CVO
CA$6.21
Coveo Solutions
7D
9.9%
1Y
-18.9%

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BB
CA$4.77
BlackBerry
7D
2.8%
1Y
-36.7%
ACT
CA$15.72
Aduro Clean Technologies
7D
-4.7%
1Y
101.5%
ABXX
CA$45.84
Abaxx Technologies
7D
14.6%
1Y
355.7%