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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 risen 3.1%, driven by gains from Constellation Software of 2.3%. Meanwhile, Intellistake Technologies actually underperformed within the industry, shrinking 25% in the last week. In contrast, the industry has lost 36% in the last 12 months. Earnings are forecast to grow by 25% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 08 Apr 2026CA$89.4bCA$25.9b-CA$139,478,021.3935.5x-640.8x3.4x
Fri, 06 Mar 2026CA$92.9bCA$25.2bCA$54.2m38.5x1713.2x3.7x
Sun, 01 Feb 2026CA$92.1bCA$24.9bCA$107.2m31.2x858.7x3.7x
Tue, 30 Dec 2025CA$117.0bCA$25.0bCA$137.4m38.6x851.5x4.7x
Thu, 27 Nov 2025CA$118.4bCA$25.6bCA$127.7m39.5x927.6x4.6x
Sat, 25 Oct 2025CA$130.8bCA$24.6bCA$234.6m55.9x557.6x5.3x
Mon, 22 Sep 2025CA$149.6bCA$24.2bCA$236.9m60.4x631.4x6.2x
Wed, 20 Aug 2025CA$148.6bCA$24.3bCA$230.3m44.9x645.1x6.1x
Fri, 18 Jul 2025CA$162.9bCA$23.3bCA$166.6m46.7x977.4x7x
Sun, 15 Jun 2025CA$154.8bCA$23.1bCA$171.5m38.2x902.9x6.7x
Tue, 13 May 2025CA$163.1bCA$23.1bCA$990.3m31.1x164.7x7.1x
Thu, 10 Apr 2025CA$137.0bCA$23.1bCA$477.2m24.8x287.1x5.9x
Sat, 08 Mar 2025CA$153.0bCA$23.1bCA$108.2m22.1x1414.3x6.6x
Mon, 03 Feb 2025CA$154.2bCA$23.0b-CA$2,198,194,673.1624.8x-70.1x6.7x
Wed, 01 Jan 2025CA$147.7bCA$22.8b-CA$2,174,159,524.8425.5x-67.9x6.5x
Fri, 29 Nov 2024CA$154.7bCA$22.2b-CA$2,140,591,450.8533.2x-72.3x7x
Sun, 27 Oct 2024CA$139.4bCA$21.3b-CA$2,317,345,644.0222.3x-60.1x6.6x
Tue, 24 Sep 2024CA$141.5bCA$20.9b-CA$2,269,114,929.9223.3x-62.4x6.8x
Thu, 22 Aug 2024CA$137.8bCA$20.9b-CA$2,262,676,108.2729.7x-60.9x6.6x
Sat, 20 Jul 2024CA$137.8bCA$20.3b-CA$3,170,337,781.4245.4x-43.5x6.8x
Mon, 17 Jun 2024CA$128.2bCA$20.2b-CA$3,142,837,156.5936.3x-40.8x6.3x
Wed, 15 May 2024CA$126.0bCA$20.0b-CA$3,267,710,764.7535.5x-38.6x6.3x
Fri, 12 Apr 2024CA$125.1bCA$19.4b-CA$3,974,809,518.7722.1x-31.5x6.4x
Sun, 10 Mar 2024CA$121.9bCA$19.2b-CA$3,928,515,253.0624.6x-31x6.3x
Tue, 06 Feb 2024CA$117.1bCA$18.2b-CA$3,107,092,824.3324.1x-37.7x6.4x
Thu, 04 Jan 2024CA$109.3bCA$18.3b-CA$3,160,590,051.0026.1x-34.6x6x
Sat, 02 Dec 2023CA$106.3bCA$18.5b-CA$3,358,455,824.0030.4x-31.7x5.8x
Mon, 30 Oct 2023CA$91.0bCA$18.1b-CA$3,425,871,989.0052.2x-26.6x5x
Wed, 27 Sep 2023CA$93.4bCA$17.7b-CA$3,363,087,207.0042x-27.8x5.3x
Fri, 25 Aug 2023CA$96.5bCA$17.9b-CA$3,371,034,438.0043.2x-28.6x5.4x
Sun, 23 Jul 2023CA$99.8bCA$16.6b-CA$3,091,633,061.0062.4x-32.3x6x
Tue, 20 Jun 2023CA$95.8bCA$16.7b-CA$2,964,747,540.0061.1x-32.3x5.7x
Thu, 18 May 2023CA$93.4bCA$16.7b-CA$2,221,275,826.0051.1x-42x5.6x
Sat, 15 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 152x202420252026
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 19% 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
LMN Lumine GroupCA$22.812.9%
+CA$166.8m		-44.6%PE35.5x
ABXX Abaxx TechnologiesCA$55.557.4%
+CA$141.4m		478.0%PS1952.5x
TOI Topicus.comCA$93.051.2%
+CA$92.5m		-32.4%PE115.2x
HIVE HIVE Digital TechnologiesCA$2.703.8%
+CA$25.3m		43.6%PS1.9x
IMP Intermap TechnologiesCA$1.7210.3%
+CA$11.6m		15.4%PS8.5x

Latest News

DCBO
CA$23.66
Docebo
7D
-3.0%
1Y
-38.5%

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.
DND
CA$4.00
Dye & Durham
7D
2.3%
1Y
-51.6%

DND: Ongoing Review And Filing Progress Will Support Future Repricing Potential

Analysts have trimmed their average price target for Dye & Durham by CA$0.50 to CA$4.00. This change reflects recent target cuts and ongoing questions about the company’s financial health and progress on its review process.
LSPD
CA$12.33
Lightspeed Commerce
7D
-0.9%
1Y
7.5%

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$55.55
Abaxx Technologies
7D
7.4%
1Y
478.0%
IMP
CA$1.72
Intermap Technologies
7D
10.3%
1Y
15.4%
DSG
CA$96.45
Descartes Systems Group
7D
-3.2%
1Y
-28.0%
CMG
CA$4.37
Computer Modelling Group
7D
2.1%
1Y
-35.3%
CVO
CA$4.31
Coveo Solutions
7D
1.9%
1Y
-16.8%

CVO: AI Partnerships And Buybacks Will Support Upside Despite Cautious Sentiment

Analysts have trimmed their average price target on Coveo Solutions by CA$1 to reflect updated assumptions around fair value, discount rates and profitability, following recent target reductions from BMO Capital, TD Securities and Stifel. Analyst Commentary Bearish analysts have responded to recent developments by cutting their formal price targets on Coveo Solutions, signalling a more cautious stance on the stock’s risk and reward profile.
CSU
CA$2,378.34
Constellation Software
7D
-2.6%
1Y
-44.5%
KXS
CA$139.66
Kinaxis
7D
-0.5%
1Y
-13.0%

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$0.57
Minehub Technologies
7D
-10.9%
1Y
18.8%
RAIL
CA$0.36
Railtown AI Technologies
7D
-12.2%
1Y
0%
LMN
CA$22.81
Lumine Group
7D
2.9%
1Y
-44.6%
TOI
CA$93.05
Topicus.com
7D
1.2%
1Y
-32.4%
ISTK
CA$0.48
Intellistake Technologies
7D
-19.2%
1Y
273.1%
HIVE
CA$2.70
HIVE Digital Technologies
7D
3.8%
1Y
43.6%