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Canadian (TSX) Application Software Industry Analysis

UpdatedJan 15, 2026
DataAggregated Company Financials
Companies73
  • 7D-4.9%
  • 3M-19.9%
  • 1Y-25.1%
  • YTDn/a

The Application Software is pretty flat in the last 7 days, but Descartes Systems Group has stood out, gaining 3.3%. As for the longer term, the industry has declined 20% in the last year. Earnings are forecast to grow by 24% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 15 Jan 2026CA$114.7bCA$25.3bCA$134.8m44.3x850.5x4.5x
Sat, 13 Dec 2025CA$116.0bCA$25.2bCA$136.7m39.1x848.9x4.6x
Mon, 10 Nov 2025CA$118.3bCA$25.4bCA$164.4m54x719.6x4.7x
Wed, 08 Oct 2025CA$135.6bCA$24.5bCA$237.4m55.2x571.4x5.5x
Fri, 05 Sep 2025CA$152.8bCA$24.3bCA$237.2m64.9x644.2x6.3x
Sun, 03 Aug 2025CA$158.1bCA$23.6bCA$207.7m48.8x761.1x6.7x
Tue, 01 Jul 2025CA$159.4bCA$23.2bCA$180.1m40.1x885.1x6.9x
Thu, 29 May 2025CA$159.6bCA$23.4bCA$194.9m39x818.7x6.8x
Sat, 26 Apr 2025CA$154.6bCA$22.8bCA$475.5m27.3x325.1x6.8x
Mon, 24 Mar 2025CA$146.6bCA$23.5bCA$317.7m22.6x461.5x6.2x
Wed, 19 Feb 2025CA$158.1bCA$22.6b-CA$2,083,764,266.3222.7x-75.9x7x
Fri, 17 Jan 2025CA$144.4bCA$22.8b-CA$2,177,050,900.1923x-66.3x6.3x
Sun, 15 Dec 2024CA$154.1bCA$22.6b-CA$2,152,976,558.2024.9x-71.6x6.8x
Tue, 12 Nov 2024CA$145.5bCA$22.1b-CA$2,113,453,570.2823.4x-68.8x6.6x
Thu, 10 Oct 2024CA$139.7bCA$21.0b-CA$2,289,603,825.4222.4x-61x6.6x
Sat, 07 Sep 2024CA$134.9bCA$20.8b-CA$2,271,347,491.9522.3x-59.4x6.5x
Mon, 05 Aug 2024CA$133.4bCA$20.6b-CA$3,142,906,178.2242.9x-42.5x6.5x
Wed, 03 Jul 2024CA$132.0bCA$20.2b-CA$3,148,595,054.9742.6x-41.9x6.5x
Fri, 31 May 2024CA$126.4bCA$20.2b-CA$3,152,283,612.8139.5x-40.1x6.3x
Sun, 28 Apr 2024CA$124.8bCA$19.4b-CA$3,986,832,015.9235.3x-31.3x6.4x
Tue, 26 Mar 2024CA$120.5bCA$19.3b-CA$3,942,293,434.4922.1x-30.6x6.2x
Thu, 22 Feb 2024CA$119.2bCA$18.4b-CA$1,920,125,137.8422.2x-62.1x6.5x
Sat, 20 Jan 2024CA$118.5bCA$18.5b-CA$3,174,107,402.0025.6x-37.3x6.4x
Mon, 18 Dec 2023CA$111.7bCA$18.5b-CA$3,267,202,643.0026.5x-34.2x6x
Wed, 15 Nov 2023CA$103.5bCA$18.8b-CA$3,410,854,682.0047.8x-30.4x5.5x
Fri, 13 Oct 2023CA$97.4bCA$17.9b-CA$3,395,995,269.0045.6x-28.7x5.4x
Sun, 10 Sep 2023CA$97.3bCA$17.9b-CA$3,300,132,131.0043.5x-29.5x5.4x
Tue, 08 Aug 2023CA$96.7bCA$17.1b-CA$3,656,357,287.0043.7x-26.5x5.7x
Thu, 06 Jul 2023CA$97.7bCA$16.7b-CA$2,930,591,454.0061.3x-33.3x5.9x
Sat, 03 Jun 2023CA$96.8bCA$16.9b-CA$2,992,821,206.0067.7x-32.3x5.7x
Mon, 01 May 2023CA$93.8bCA$16.1b-CA$2,298,272,440.0051.2x-40.8x5.8x
Wed, 29 Mar 2023CA$88.4bCA$15.2b-CA$2,419,843,516.0032x-36.6x5.8x
Fri, 24 Feb 2023CA$85.1bCA$15.1b-CA$2,303,217,278.0030.3x-36.9x5.6x
Sun, 22 Jan 2023CA$81.5bCA$14.8b-CA$501,046,741.0024.9x-162.6x5.5x
Price to Earnings Ratio

-162.6x


Total Market Cap: CA$81.5bTotal Earnings: -CA$501,046,741.00Total Revenue: CA$14.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Application Software Industry Price to Earnings3Y Average 156.5x202420252026
Current Industry PE
  • Investors are optimistic on the Canadian Application Software industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 870x which is higher than its 3-year average PE of 156x.
  • The 3-year average PS ratio of 6.1x is higher than the industry's current PS ratio of 4.6x.
Past Earnings Growth
  • Total earnings for the Application Software industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 20% per year.
  • This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Comparison

How does Canadian Application Software compare with similar industries?

CA Market2.82%
Tech-1.94%
Software-4.74%
Application Software-4.95%
Systems Software0.33%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
BITF BitfarmsCA$4.095.7%
+CA$146.5m		71.8%PS6.4x
ACT Aduro Clean TechnologiesCA$20.2521.8%
+CA$120.5m		158.3%PS3046x
HIVE HIVE Digital TechnologiesCA$4.7611.7%
+CA$119.0m		6.3%PE23.7x
DSG Descartes Systems GroupCA$120.041.1%
+CA$115.2m		-27.1%PE47.8x
DGX Digi Power XCA$4.5220.9%
+CA$51.5m		94.8%PS6.9x

Latest News

BITF
CA$4.09
Bitfarms
7D
5.7%
1Y
71.8%
WERX
CA$4.31
Fintechwerx International Software Services
7D
20.7%
1Y
n/a
LSPD
CA$16.16
Lightspeed Commerce
7D
-3.8%
1Y
-24.0%
CVO
CA$7.26
Coveo Solutions
7D
6.8%
1Y
21.0%

Estimating The Fair Value Of Coveo Solutions Inc. (TSE:CVO)

Jan 12
Estimating The Fair Value Of Coveo Solutions Inc. (TSE:CVO)
ENGH
CA$19.73
Enghouse Systems
7D
-3.5%
1Y
-26.2%
LMN
CA$25.55
Lumine Group
7D
-2.7%
1Y
-34.5%

Lumine Group (CVE:LMN) Seems To Use Debt Rather Sparingly

Jan 11
Lumine Group (CVE:LMN) Seems To Use Debt Rather Sparingly
IMP
CA$1.69
Intermap Technologies
7D
-14.2%
1Y
-26.2%

Intermap Technologies Corporation's (TSE:IMP) Stock Retreats 25% But Revenues Haven't Escaped The Attention Of Investors

Jan 10
Intermap Technologies Corporation's (TSE:IMP) Stock Retreats 25% But Revenues Haven't Escaped The Attention Of Investors
DSG
CA$120.04
Descartes Systems Group
7D
1.1%
1Y
-27.1%

DSG: Softer Freight Cycle And Buyback Plan Will Shape Future Returns

Analysts have trimmed their price target on Descartes Systems Group to about $102 from roughly $112, citing a softer transport cycle, weaker shipment volume data, pressure on peer multiples, and updated assumptions for revenue growth, profit margins, discount rate and future P/E. These factors collectively point to a slightly higher intrinsic value estimate of about $134 per share.
KXS
CA$167.89
Kinaxis
7D
-1.3%
1Y
-3.1%
DCBO
CA$28.09
Docebo
7D
-9.6%
1Y
-54.0%

DCBO: Enterprise Expansion And Higher ARPU Will Support Long-Term Upside

Analysts have adjusted their view on Docebo after a mix of recent research, including a price target cut to US$28 from US$34 and a fresh US$35 target at another firm. This has led to a small tweak in the modeled discount rate and future P/E multiple in our updated assumptions.
HIVE
CA$4.76
HIVE Digital Technologies
7D
11.7%
1Y
6.3%
DMGI
CA$0.35
DMG Blockchain Solutions
7D
36.5%
1Y
-2.7%
ACT
CA$20.25
Aduro Clean Technologies
7D
21.8%
1Y
158.3%
CSU
CA$3,022.95
Constellation Software
7D
-7.1%
1Y
-30.4%

Constellation Software (TSE:CSU) Has A Rock Solid Balance Sheet

Jan 01
Constellation Software (TSE:CSU) Has A Rock Solid Balance Sheet
DGX
CA$4.52
Digi Power X
7D
20.9%
1Y
94.8%
TOI
CA$117.59
Topicus.com
7D
-7.5%
1Y
-5.7%

Some Investors May Be Worried About Topicus.com's (CVE:TOI) Returns On Capital

Dec 20
Some Investors May Be Worried About Topicus.com's (CVE:TOI) Returns On Capital