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Canadian (TSX) Software Industry Analysis

UpdatedJul 03, 2025
DataAggregated Company Financials
Companies74
  • 7D1.3%
  • 3M17.8%
  • 1Y22.8%
  • YTD9.6%

In the last week, the Software industry is up 1.3%, with Topicus.com leading the way with a 3.4% gain. Meanwhile, BlackBerry actually underperformed within the industry, shrinking 6.4% in the last week. This means that the industry has gained 23% over the past year. As for the next few years, earnings are expected to grow by 20% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 06 Jul 2025CA$165.5bCA$24.1bCA$189.2m45.5x875.1x6.9x
Tue, 03 Jun 2025CA$165.8bCA$24.2bCA$156.5m45.3x1059.4x6.8x
Thu, 01 May 2025CA$161.6bCA$23.8bCA$434.1m30.7x372.3x6.8x
Sat, 29 Mar 2025CA$152.3bCA$24.7bCA$197.8m26.9x769.9x6.2x
Mon, 24 Feb 2025CA$159.5bCA$23.9b-CA$2,316,119,722.2628.1x-68.9x6.7x
Wed, 22 Jan 2025CA$150.8bCA$24.0b-CA$2,401,516,088.2141x-62.8x6.3x
Fri, 20 Dec 2024CA$151.3bCA$24.1b-CA$2,396,523,351.4833.5x-63.1x6.3x
Sun, 17 Nov 2024CA$149.7bCA$23.5b-CA$2,354,128,975.3338.8x-63.6x6.4x
Tue, 15 Oct 2024CA$145.4bCA$22.3b-CA$2,501,459,353.1742.3x-58.1x6.5x
Thu, 12 Sep 2024CA$141.0bCA$22.0b-CA$2,505,836,613.1041.1x-56.3x6.4x
Sat, 10 Aug 2024CA$136.6bCA$21.7b-CA$2,660,396,450.3745.1x-51.3x6.3x
Mon, 08 Jul 2024CA$136.2bCA$21.3b-CA$3,376,599,640.4344.1x-40.3x6.4x
Wed, 05 Jun 2024CA$130.7bCA$21.6b-CA$3,384,535,783.7040.8x-38.6x6x
Fri, 03 May 2024CA$127.9bCA$20.8b-CA$3,580,629,918.8347.6x-35.7x6.1x
Sun, 31 Mar 2024CA$129.4bCA$20.7b-CA$4,791,974,138.6528.6x-27x6.3x
Tue, 27 Feb 2024CA$124.0bCA$19.8b-CA$2,761,253,020.6925.5x-44.9x6.2x
Thu, 25 Jan 2024CA$123.3bCA$20.0b-CA$3,990,446,939.0025.8x-30.9x6.2x
Sat, 23 Dec 2023CA$115.2bCA$19.7b-CA$4,045,709,004.0027.2x-28.5x5.8x
Mon, 20 Nov 2023CA$110.1bCA$20.4b-CA$4,211,682,706.0030.3x-26.1x5.4x
Wed, 18 Oct 2023CA$100.3bCA$19.4b-CA$4,192,308,504.0055.6x-23.9x5.2x
Fri, 15 Sep 2023CA$102.8bCA$19.3b-CA$4,167,427,245.0056x-24.7x5.3x
Sun, 13 Aug 2023CA$102.3bCA$18.7b-CA$4,155,360,521.0057.4x-24.6x5.5x
Tue, 11 Jul 2023CA$100.7bCA$18.2b-CA$3,700,044,857.0072.1x-27.2x5.5x
Thu, 08 Jun 2023CA$102.7bCA$18.1b-CA$3,970,494,747.0077.5x-25.9x5.7x
Sat, 06 May 2023CA$97.0bCA$17.3b-CA$3,314,078,236.0063.5x-29.3x5.6x
Mon, 03 Apr 2023CA$96.3bCA$17.0b-CA$3,362,285,542.0038.2x-28.7x5.7x
Wed, 01 Mar 2023CA$88.6bCA$16.5b-CA$2,471,707,767.0034.3x-35.9x5.4x
Fri, 27 Jan 2023CA$86.9bCA$16.1b-CA$664,672,777.0028.8x-130.8x5.4x
Sun, 25 Dec 2022CA$78.7bCA$16.3b-CA$673,569,292.0033.5x-116.8x4.8x
Tue, 22 Nov 2022CA$77.1bCA$16.1b-CA$530,635,156.0037.4x-145.4x4.8x
Thu, 20 Oct 2022CA$73.5bCA$15.5b-CA$280,577,123.0044.6x-261.8x4.7x
Sat, 17 Sep 2022CA$76.1bCA$15.1b-CA$426,181,352.0042x-178.5x5x
Mon, 15 Aug 2022CA$86.6bCA$14.5b-CA$80,303,591.0049.1x-1078x6x
Wed, 13 Jul 2022CA$75.6bCA$14.0bCA$515.2m44.3x146.7x5.4x
Price to Earnings Ratio

146.7x


Total Market Cap: CA$75.6bTotal Earnings: CA$515.2mTotal Revenue: CA$14.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Software Industry Price to Earnings3Y Average 33.6x202320242025
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 875x which is higher than its 3-year average PE of 33.6x.
  • The 3-year average PS ratio of 5.9x is lower than the industry's current PS ratio of 6.9x.
Past Earnings Growth
  • The earnings for companies in the Software industry have declined 28% per year over the last three years.
  • Meanwhile revenues for these companies have grown 20% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

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

CA Market1.38%
Tech1.62%
Software1.25%
Application Software1.32%
Systems Software-0.63%
Industry PE
  • Investors are most optimistic about the Application Software industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 19.9%, which is lower than the prior year's growth of 24.1% 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.
Forecasted Growth
  • Analysts are most optimistic on the Systems Software industry, expecting annual earnings growth of 43% over the next 5 years.
  • However this is lower than its past earnings growth rate of 141% per year.
  • In contrast, the Application Software industry is expected to see its earnings grow by 20% 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
TOI Topicus.comCA$174.783.4%
+CA$481.7m
46.7%PE92.2x
LMN Lumine GroupCA$48.993.8%
+CA$456.8m
32.7%PE139.5x
CSU Constellation SoftwareCA$5.01k0.4%
+CA$451.6m
25.8%PE105.2x
BITF BitfarmsCA$1.3834.0%
+CA$194.6m
-62.1%PS2.7x
BTQ BTQ TechnologiesCA$8.9015.6%
+CA$159.1m
1,518.2%PS1287x

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