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Canadian (TSX) Application Software Industry Analysis

UpdatedApr 08, 2026
DataAggregated Company Financials
Companies69
  • 7D-1.4%
  • 3M-24.4%
  • 1Y-36.9%
  • YTDn/a

Over the last 7 days, the Application Software industry has dropped 1.4%, driven by a pullback from Constellation Software of 2.6%. Overall the industry is down 37% in 12 months. As for the next few years, earnings are expected to grow by 25% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 09 Apr 2026CA$89.4bCA$25.9b-CA$139,478,021.3935.5x-640.8x3.4x
Sat, 07 Mar 2026CA$98.1bCA$25.1bCA$52.6m38.9x1864.8x3.9x
Mon, 02 Feb 2026CA$92.1bCA$24.9bCA$107.2m31.2x858.7x3.7x
Wed, 31 Dec 2025CA$116.1bCA$25.0bCA$124.1m38.6x935x4.6x
Fri, 28 Nov 2025CA$119.6bCA$25.6bCA$127.4m39.6x938.7x4.7x
Sun, 26 Oct 2025CA$133.2bCA$24.6bCA$234.6m55.9x567.6x5.4x
Tue, 23 Sep 2025CA$149.5bCA$24.3bCA$239.0m60.2x625.8x6.2x
Thu, 21 Aug 2025CA$146.7bCA$24.3bCA$230.8m44x635.7x6x
Sat, 19 Jul 2025CA$165.9bCA$23.3bCA$166.1m53.3x998.5x7.1x
Mon, 16 Jun 2025CA$154.9bCA$23.1bCA$171.5m38.2x903x6.7x
Wed, 14 May 2025CA$164.8bCA$23.4bCA$1.0b31.5x164.7x7x
Fri, 11 Apr 2025CA$147.7bCA$23.0bCA$473.0m24.3x312.2x6.4x
Sun, 09 Mar 2025CA$154.7bCA$23.7bCA$315.1m22.1x491x6.5x
Tue, 04 Feb 2025CA$154.2bCA$23.0b-CA$2,203,229,220.3022.5x-70x6.7x
Thu, 02 Jan 2025CA$146.9bCA$22.8b-CA$2,176,128,330.7125.5x-67.5x6.5x
Sat, 30 Nov 2024CA$154.2bCA$22.2b-CA$2,141,830,692.5232.9x-72x6.9x
Mon, 28 Oct 2024CA$139.4bCA$21.3b-CA$2,317,345,644.0222.3x-60.1x6.6x
Wed, 25 Sep 2024CA$141.8bCA$20.7b-CA$2,250,732,472.4222.5x-63x6.9x
Fri, 23 Aug 2024CA$139.7bCA$20.9b-CA$2,298,456,341.6523.6x-60.8x6.7x
Sun, 21 Jul 2024CA$138.4bCA$20.3b-CA$3,170,337,888.7645.4x-43.7x6.8x
Tue, 18 Jun 2024CA$128.2bCA$20.2b-CA$3,140,446,778.4534.9x-40.8x6.3x
Thu, 16 May 2024CA$124.4bCA$19.9b-CA$3,225,602,154.9936.2x-38.6x6.2x
Sat, 13 Apr 2024CA$126.7bCA$19.6b-CA$3,999,170,860.4221.9x-31.7x6.5x
Mon, 11 Mar 2024CA$121.9bCA$19.2b-CA$3,928,515,253.0624.6x-31x6.3x
Wed, 07 Feb 2024CA$116.8bCA$18.2b-CA$3,091,511,005.0724.1x-37.8x6.4x
Fri, 05 Jan 2024CA$109.9bCA$18.3b-CA$3,159,373,978.0026.4x-34.8x6x
Sun, 03 Dec 2023CA$108.0bCA$18.5b-CA$3,364,440,851.0027.8x-32.1x5.8x
Tue, 31 Oct 2023CA$93.2bCA$18.1b-CA$3,416,478,085.0053.6x-27.3x5.2x
Thu, 28 Sep 2023CA$93.8bCA$17.7b-CA$3,361,650,515.0042.2x-27.9x5.3x
Sat, 26 Aug 2023CA$96.9bCA$17.9b-CA$3,373,814,046.0043.4x-28.7x5.4x
Mon, 24 Jul 2023CA$99.8bCA$16.6b-CA$3,091,633,061.0062.4x-32.3x6x
Wed, 21 Jun 2023CA$95.5bCA$16.7b-CA$2,967,963,939.0061.4x-32.2x5.7x
Fri, 19 May 2023CA$93.8bCA$16.8b-CA$2,168,619,482.0051.4x-43.2x5.6x
Sun, 16 Apr 2023CA$93.4bCA$15.6b-CA$2,311,032,016.0031.2x-40.4x6x
Price to Earnings Ratio

-40.4x


Total Market Cap: CA$93.4bTotal Earnings: -CA$2,311,032,016.00Total Revenue: CA$15.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Application Software Industry Price to Earnings3Y Average 151.5x202420252026
Current Industry PE
  • Investors are pessimistic on the Canadian Application Software industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The 3-year average PS ratio of 6.0x is higher than the industry's current PS ratio of 3.4x.
Past Earnings Growth
  • The earnings for companies in the Application Software industry have improved over the last three years.
  • Revenues for these companies have grown 18% per year.
  • This means that more sales are being generated by these companies overall, and subsequently losses are decreasing too.

Industry Comparison

How does Canadian Application Software compare with similar industries?

CA Market1.35%
Tech0.85%
Software-1.12%
Application Software-1.36%
Systems Software4.50%
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
ABXX Abaxx TechnologiesCA$56.878.7%
+CA$166.4m		516.8%PS1998.8x
KEEL Keel InfrastructureCA$2.968.4%
+CA$138.7m		142.6%n/a
HIVE HIVE Digital TechnologiesCA$2.909.8%
+CA$65.8m		33.6%PS2.1x
DGX Digi Power XCA$3.3010.4%
+CA$21.8m		142.6%PS4.9x
KXS KinaxisCA$141.020.4%
+CA$16.1m		-17.6%PE39.9x

Latest News

DSG
CA$93.08
Descartes Systems Group
7D
-5.5%
1Y
-35.8%
CSU
CA$2,414.73
Constellation Software
7D
-1.2%
1Y
-48.2%

AI Reinvestment Risks And Acquisition Pressures Will Still Support Long Term Earnings Potential

Catalysts About Constellation Software Constellation Software acquires, owns and operates vertical market software businesses that provide mission critical solutions to customers around the world. What are the underlying business or industry changes driving this perspective?
DCBO
CA$23.32
Docebo
7D
-3.4%
1Y
-45.6%

DCBO: Buybacks And Solid Bookings Are Expected To Support Upside Repricing

Narrative update Analysts have trimmed their average price targets on Docebo, with recent cuts such as Scotiabank moving to CA$25 from CA$32, Morgan Stanley to CA$26 from CA$28, and Stifel to CA$28 from CA$34. These revisions reflect expectations for softer near-term organic subscription growth and contract headwinds, even as analysts point to solid gross bookings and a core business that appears healthier than the headline metrics suggest.
LSPD
CA$12.09
Lightspeed Commerce
7D
-2.8%
1Y
-7.0%

LSPD: Multi Year Product Execution And Profit Discipline Will Support Upside Potential

Analysts have trimmed their average 12 month price target on Lightspeed Commerce by a few Canadian dollars to around CA$20, citing a series of recent target reductions from firms revisiting their assumptions on discount rates, long term growth, and sector valuations. Analyst Commentary Recent Street research on Lightspeed Commerce has focused on recalibrating price targets rather than changing overall ratings, with several firms trimming their estimates by between $1 and $4 and one large bank setting a target of $14 alongside an Equal Weight stance.
ABXX
CA$56.87
Abaxx Technologies
7D
8.7%
1Y
516.8%
DGX
CA$3.30
Digi Power X
7D
10.4%
1Y
142.6%
ENGH
CA$16.66
Enghouse Systems
7D
0.8%
1Y
-32.7%

ENGH: Share Repurchases And Dividend Policy Will Balance Softer Outlook

Enghouse Systems' updated analyst price target edges down by CA$0.25 to reflect slightly softer revenue growth assumptions. This is partly offset by a modestly higher profit margin outlook and a small adjustment to the discount rate and future P/E expectations, in line with recent target cuts from CA$17 to CA$20 across several firms.
CMG
CA$4.28
Computer Modelling Group
7D
1.9%
1Y
-42.1%
TINY
CA$5.84
Tiny
7D
6.0%
1Y
-33.0%
KXS
CA$141.02
Kinaxis
7D
0.4%
1Y
-17.6%

KXS: AI Supply Chain Orchestration And GPU Acceleration Will Support Future Upside

Kinaxis' updated fair value estimate edges up to CA$209.65 from CA$205.52, even as Street price targets consolidate around CA$200. Analysts point to recent target trims at several firms while still backing the long term earnings profile reflected in slightly adjusted discount rate, profit margin and future P/E assumptions.
MHUB
CA$0.53
Minehub Technologies
7D
-15.9%
1Y
10.4%
LMN
CA$22.01
Lumine Group
7D
-1.6%
1Y
-46.6%
TOI
CA$92.83
Topicus.com
7D
-1.8%
1Y
-35.0%
ISTK
CA$0.43
Intellistake Technologies
7D
-14.7%
1Y
234.6%
HIVE
CA$2.90
HIVE Digital Technologies
7D
9.8%
1Y
33.6%