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Canadian (TSX) Application Software Industry Analysis

UpdatedMar 24, 2026
DataAggregated Company Financials
Companies71
  • 7D-0.8%
  • 3M-22.2%
  • 1Y-39.6%
  • YTDn/a

Over the last 7 days, the Application Software industry has dropped 1.6%, driven by a pullback from Constellation Software of 1.0%. The industry has fallen 40% in the last year. Looking forward, 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
Tue, 24 Mar 2026CA$90.1bCA$26.0b-CA$203,290,690.7236.7x-443.4x3.5x
Thu, 19 Feb 2026CA$81.5bCA$25.1b-CA$75,558,067.3634.8x-1078.4x3.2x
Sat, 17 Jan 2026CA$106.5bCA$25.4bCA$132.2m43.1x805.3x4.2x
Mon, 15 Dec 2025CA$116.1bCA$25.2bCA$136.7m39.1x849.3x4.6x
Wed, 12 Nov 2025CA$115.8bCA$25.4bCA$163.9m50.9x706.9x4.6x
Fri, 10 Oct 2025CA$135.8bCA$24.6bCA$238.1m56.3x570.2x5.5x
Sun, 07 Sep 2025CA$154.2bCA$24.3bCA$235.8m62.6x654x6.3x
Tue, 05 Aug 2025CA$158.1bCA$23.6bCA$207.7m48.8x760.8x6.7x
Thu, 03 Jul 2025CA$160.1bCA$23.1bCA$179.3m41.2x892.7x6.9x
Sat, 31 May 2025CA$159.2bCA$23.2bCA$179.4m39.1x887.6x6.9x
Mon, 28 Apr 2025CA$155.3bCA$22.8bCA$475.5m27.3x326.7x6.8x
Wed, 26 Mar 2025CA$149.7bCA$23.4bCA$314.6m22.4x475.9x6.4x
Fri, 21 Feb 2025CA$156.4bCA$22.6b-CA$2,080,934,157.8321.2x-75.2x6.9x
Sun, 19 Jan 2025CA$146.7bCA$22.9b-CA$2,186,158,100.4923x-67.1x6.4x
Tue, 17 Dec 2024CA$154.3bCA$22.6b-CA$2,154,629,553.5224.9x-71.6x6.8x
Thu, 14 Nov 2024CA$149.5bCA$22.2b-CA$2,124,143,209.6822.8x-70.4x6.7x
Sat, 12 Oct 2024CA$140.4bCA$21.1b-CA$2,296,801,139.9921.8x-61.1x6.7x
Mon, 09 Sep 2024CA$134.8bCA$20.8b-CA$2,271,347,508.5122.3x-59.4x6.5x
Wed, 07 Aug 2024CA$133.5bCA$20.5b-CA$3,124,921,395.6643x-42.7x6.5x
Fri, 05 Jul 2024CA$134.6bCA$20.1b-CA$3,135,944,990.2543.6x-42.9x6.7x
Sun, 02 Jun 2024CA$127.6bCA$20.1b-CA$3,143,066,504.9741.9x-40.6x6.3x
Tue, 30 Apr 2024CA$124.8bCA$19.4b-CA$3,985,485,079.7835.7x-31.3x6.4x
Thu, 28 Mar 2024CA$127.5bCA$19.3b-CA$3,938,961,786.6522x-32.4x6.6x
Sat, 24 Feb 2024CA$120.5bCA$18.4b-CA$1,905,830,083.2023.1x-63.2x6.5x
Mon, 22 Jan 2024CA$119.6bCA$18.4b-CA$3,171,796,481.0025.6x-37.7x6.5x
Wed, 20 Dec 2023CA$108.2bCA$18.4b-CA$3,258,522,856.0026.6x-33.2x5.9x
Fri, 17 Nov 2023CA$105.6bCA$18.8b-CA$3,425,814,372.0046.3x-30.8x5.6x
Sun, 15 Oct 2023CA$95.6bCA$17.9b-CA$3,389,739,201.0045.4x-28.2x5.3x
Tue, 12 Sep 2023CA$98.3bCA$17.8b-CA$3,287,726,706.0043.7x-29.9x5.5x
Thu, 10 Aug 2023CA$96.7bCA$17.1b-CA$3,501,097,333.0042.8x-27.6x5.6x
Sat, 08 Jul 2023CA$96.2bCA$16.7b-CA$2,927,453,202.0061x-32.9x5.8x
Mon, 05 Jun 2023CA$96.8bCA$16.9b-CA$2,987,527,834.0067.8x-32.4x5.7x
Wed, 03 May 2023CA$95.2bCA$16.2b-CA$2,339,546,354.0051.4x-40.7x5.9x
Fri, 31 Mar 2023CA$90.2bCA$15.8b-CA$2,373,417,330.0034.3x-38x5.7x
Price to Earnings Ratio

-38x


Total Market Cap: CA$90.2bTotal Earnings: -CA$2,373,417,330.00Total Revenue: CA$15.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Application Software Industry Price to Earnings3Y Average 158x202420252026
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 3.5x.
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 Market-2.96%
Tech1.23%
Software-0.83%
Application Software-0.80%
Systems Software-1.69%
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
DSG Descartes Systems GroupCA$100.652.0%
+CA$166.9m		-31.7%PE38.5x
KXS KinaxisCA$140.143.5%
+CA$130.2m		-11.8%PE39.9x
BITF BitfarmsCA$3.193.2%
+CA$60.3m		99.4%PS5.1x
ENGH Enghouse SystemsCA$16.386.8%
+CA$56.7m		-38.4%PE12.9x
TOI Topicus.comCA$98.230.6%
+CA$51.7m		-31.1%PE123x

Latest News

TINY
CA$5.82
Tiny
7D
-11.7%
1Y
-45.7%
DGX
CA$3.28
Digi Power X
7D
-0.6%
1Y
77.3%
ABXX
CA$37.23
Abaxx Technologies
7D
-4.2%
1Y
272.3%
DND
CA$4.24
Dye & Durham
7D
-9.6%
1Y
-64.4%

DND: Ongoing Review And Contract Wins Will Drive Future Repricing Potential

Analysts have trimmed their average price target on Dye & Durham by CA$0.50 to CA$4.00, reflecting cautious views tied to limited recent progress and ongoing questions about the company's financial health. Analyst Commentary Recent research updates show a cautious but engaged analyst community, with targets clustered around the low single digits and a consistent Market Perform stance.
LSPD
CA$12.27
Lightspeed Commerce
7D
0.7%
1Y
-14.0%

LSPD: Product Execution And Profit Discipline Will Support Future Upside Potential

Analyst price targets for Lightspeed Commerce have been revised, with the updated fair value estimate increasing from CA$19.24 to CA$20.13 as analysts incorporate recent target cuts across the Street along with updated assumptions for discount rate, revenue growth, profit margin and future P/E. Analyst Commentary Recent Street research on Lightspeed Commerce has centered on resetting price targets, with several bearish analysts trimming their expectations while maintaining coverage.
BITF
CA$3.19
Bitfarms
7D
3.2%
1Y
99.4%

BITF: Liquidity Management Will Drive Upside As U.S. Crypto Rules Develop

Analysts now place their average Bitfarms price target at CA$6.99, a level similar to prior estimates. They factor liquidity concerns and uncertainty around crypto market structure legislation into their valuation framework.
ENGH
CA$16.38
Enghouse Systems
7D
6.8%
1Y
-38.4%

ENGH: Share Repurchases And Dividend Policy Will Support Future Upside Potential

Enghouse Systems' updated Analyst Price Target has shifted from CA$21.25 to CA$18.13 as analysts factor in lower fair value estimates, along with more cautious assumptions for revenue growth, profit margins and future P/E multiples, as reflected in recent Street target cuts to CA$17, CA$18.50 and CA$20. Analyst Commentary Recent Street commentary on Enghouse Systems centers on lower price targets in a relatively tight range of CA$17 to CA$20, with ratings clustered around Hold, Neutral and Sector Perform.
MHUB
CA$0.51
Minehub Technologies
7D
-35.4%
1Y
-17.7%
KXS
CA$140.14
Kinaxis
7D
3.5%
1Y
-11.8%
DSG
CA$100.65
Descartes Systems Group
7D
2.0%
1Y
-31.7%
CSU
CA$2,537.90
Constellation Software
7D
-1.0%
1Y
-46.3%
LMN
CA$23.30
Lumine Group
7D
-5.6%
1Y
-42.6%
TOI
CA$98.23
Topicus.com
7D
0.6%
1Y
-31.1%
ISTK
CA$0.66
Intellistake Technologies
7D
10.0%
1Y
407.7%
HIVE
CA$2.90
HIVE Digital Technologies
7D
-4.0%
1Y
12.4%
ACT
CA$14.96
Aduro Clean Technologies
7D
-5.4%
1Y
97.6%