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Canadian (TSX) Application Software Industry Analysis

UpdatedFeb 10, 2026
DataAggregated Company Financials
Companies71
  • 7D-2.3%
  • 3M-24.7%
  • 1Y-44.9%
  • YTDn/a

Over the last 7 days, the Application Software industry has dropped 2.3%, driven by a pullback from Lightspeed Commerce of 15%. Meanwhile, Constellation Software actually outperformed within the industry, gaining 7.9% in the last week. The industry has fallen 45% in the last year. As for the next few years, earnings are expected to grow by 24% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 11 Feb 2026CA$87.4bCA$24.9bCA$144.7m31x603.7x3.5x
Fri, 09 Jan 2026CA$114.8bCA$25.3bCA$134.2m39x855.4x4.5x
Sun, 07 Dec 2025CA$117.9bCA$25.2bCA$145.4m39.5x811x4.7x
Tue, 04 Nov 2025CA$127.5bCA$24.6bCA$228.1m54.4x559.1x5.2x
Thu, 02 Oct 2025CA$131.8bCA$24.5bCA$238.6m53.1x552.5x5.4x
Sat, 30 Aug 2025CA$149.5bCA$24.1bCA$226.2m61.5x660.9x6.2x
Mon, 28 Jul 2025CA$163.9bCA$23.3bCA$163.2m51.6x1004.3x7x
Wed, 25 Jun 2025CA$158.7bCA$23.3bCA$176.4m39.8x899.6x6.8x
Fri, 23 May 2025CA$158.8bCA$23.4bCA$944.8m34.3x168.1x6.8x
Sun, 20 Apr 2025CA$148.7bCA$22.8bCA$474.6m26x313.3x6.5x
Tue, 18 Mar 2025CA$147.6bCA$23.4bCA$316.4m21.4x466.6x6.3x
Thu, 13 Feb 2025CA$156.8bCA$22.7b-CA$2,112,752,059.4021.4x-74.2x6.9x
Sat, 11 Jan 2025CA$144.2bCA$22.8b-CA$2,180,671,594.0323.3x-66.1x6.3x
Mon, 09 Dec 2024CA$155.4bCA$22.5b-CA$2,131,951,182.0624.3x-72.9x6.9x
Wed, 06 Nov 2024CA$140.7bCA$21.3b-CA$2,026,921,489.1121.8x-69.4x6.6x
Fri, 04 Oct 2024CA$140.9bCA$20.8b-CA$2,269,795,739.5622.4x-62.1x6.8x
Sun, 01 Sep 2024CA$140.5bCA$20.7b-CA$2,259,946,955.7122.6x-62.2x6.8x
Tue, 30 Jul 2024CA$145.3bCA$20.4b-CA$3,192,994,235.8645.5x-45.5x7.1x
Thu, 27 Jun 2024CA$130.0bCA$20.2b-CA$3,155,118,858.3441.2x-41.2x6.4x
Sat, 25 May 2024CA$126.6bCA$20.1b-CA$3,171,368,333.4538.5x-39.9x6.3x
Mon, 22 Apr 2024CA$124.4bCA$19.5b-CA$4,006,444,051.0835.1x-31x6.4x
Wed, 20 Mar 2024CA$119.6bCA$19.3b-CA$3,945,410,121.3422.2x-30.3x6.2x
Fri, 16 Feb 2024CA$118.9bCA$18.3b-CA$1,921,501,649.5622.2x-61.9x6.5x
Sun, 14 Jan 2024CA$116.3bCA$18.4b-CA$3,170,171,178.0028.5x-36.7x6.3x
Tue, 12 Dec 2023CA$110.8bCA$18.7b-CA$3,294,724,473.0025.9x-33.6x5.9x
Thu, 09 Nov 2023CA$98.6bCA$18.3b-CA$3,508,848,631.0056.7x-28.1x5.4x
Sat, 07 Oct 2023CA$97.7bCA$17.9b-CA$3,390,246,531.0043.9x-28.8x5.5x
Mon, 04 Sep 2023CA$100.0bCA$17.8b-CA$3,312,232,063.0045.3x-30.2x5.6x
Wed, 02 Aug 2023CA$98.7bCA$16.7b-CA$3,100,546,365.0060.7x-31.8x5.9x
Fri, 30 Jun 2023CA$97.2bCA$16.7b-CA$2,952,522,256.0061.5x-32.9x5.8x
Sun, 28 May 2023CA$94.8bCA$17.0b-CA$3,100,637,129.0070.1x-30.6x5.6x
Tue, 25 Apr 2023CA$93.3bCA$16.1b-CA$2,291,521,155.0028.9x-40.7x5.8x
Thu, 23 Mar 2023CA$85.6bCA$15.3b-CA$2,414,945,912.0027.1x-35.4x5.6x
Sat, 18 Feb 2023CA$86.2bCA$15.1b-CA$2,100,980,079.0030.4x-41x5.7x
Price to Earnings Ratio

-41x


Total Market Cap: CA$86.2bTotal Earnings: -CA$2,100,980,079.00Total Revenue: CA$15.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Application Software Industry Price to Earnings3Y Average 178.5x202420252026
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 604x which is higher than its 3-year average PE of 178x.
  • The 3-year average PS ratio of 6.1x is higher than the industry's current PS ratio of 3.5x.
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 18% 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 Market2.79%
Tech0.38%
Software-2.30%
Application Software-2.31%
Systems Software-1.95%
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
CSU Constellation SoftwareCA$2.44k6.6%
+CA$3.2b		-50.0%PE55.5x
DSG Descartes Systems GroupCA$94.094.0%
+CA$314.7m		-44.5%PE38.4x
ABXX Abaxx TechnologiesCA$45.8414.6%
+CA$214.4m		355.7%PS2068.9x
KXS KinaxisCA$128.054.1%
+CA$139.6m		-23.6%PE74.9x
CVO Coveo SolutionsCA$6.219.9%
+CA$54.2m		-18.9%PS3x

Latest News

DSG
CA$94.09
Descartes Systems Group
7D
4.0%
1Y
-44.5%
TINY
CA$7.25
Tiny
7D
-11.4%
1Y
-34.3%

Tiny Ltd. (TSE:TINY) Not Doing Enough For Some Investors As Its Shares Slump 27%

Feb 10
Tiny Ltd. (TSE:TINY) Not Doing Enough For Some Investors As Its Shares Slump 27%
DND
CA$3.77
Dye & Durham
7D
-9.6%
1Y
-74.1%
ENGH
CA$18.01
Enghouse Systems
7D
2.0%
1Y
-35.0%

AI Monetization And M&A Constraints Will Shape A Cautious Long Term Outlook

Catalysts About Enghouse Systems Enghouse Systems provides software and services across contact centers, networks and transportation, with a focus on recurring SaaS and maintenance revenue. What are the underlying business or industry changes driving this perspective?
LSPD
CA$12.53
Lightspeed Commerce
7D
-6.8%
1Y
-33.2%

LSPD: Execution On Product Expansion And Margins Will Drive Long-Term Upside

Analysts have trimmed their price targets on Lightspeed Commerce, leading to a modest reduction in the modeled fair value to about $19.78. This change reflects slightly lower revenue growth assumptions, a higher discount rate, and a lower future P/E, partially offset by improved profit margin expectations.
HIVE
CA$3.15
HIVE Digital Technologies
7D
-6.5%
1Y
-19.6%

HIVE Digital Technologies Ltd. (CVE:HIVE) Might Not Be As Mispriced As It Looks After Plunging 35%

Feb 06
HIVE Digital Technologies Ltd. (CVE:HIVE) Might Not Be As Mispriced As It Looks After Plunging 35%
KXS
CA$128.05
Kinaxis
7D
4.1%
1Y
-23.6%

AI Supply Chain Adoption Will Drive Long Runway For This Cloud Planning Leader

Catalysts About Kinaxis Kinaxis provides cloud based supply chain planning and orchestration software to large enterprises worldwide. What are the underlying business or industry changes driving this perspective?
BITF
CA$2.99
Bitfarms
7D
-5.4%
1Y
59.0%

BITF: Liquidity Progress And Clearer Crypto Rules Will Support Future Expansion

Narrative Update: Bitfarms Analyst Price Target Shift Analysts have trimmed their price target on Bitfarms by a small amount to reflect increased focus on liquidity risk and a less supportive regulatory backdrop for crypto, while keeping only minor adjustments to the discount rate, revenue growth, profit margin, and future P/E assumptions. Analyst Commentary Recent research commentary on Bitfarms has shifted toward risk control, with a particular focus on liquidity and the policy backdrop for crypto.
DGX
CA$3.19
Digi Power X
7D
-16.1%
1Y
-31.4%
TOI
CA$90.41
Topicus.com
7D
-3.2%
1Y
-34.5%

Risks Still Elevated At These Prices As Topicus.com Inc. (CVE:TOI) Shares Dive 25%

Feb 04
Risks Still Elevated At These Prices As Topicus.com Inc. (CVE:TOI) Shares Dive 25%
CSU
CA$2,440.00
Constellation Software
7D
6.6%
1Y
-50.0%

Constellation Software Inc.'s (TSE:CSU) 29% Cheaper Price Remains In Tune With Earnings

Feb 04
Constellation Software Inc.'s (TSE:CSU) 29% Cheaper Price Remains In Tune With Earnings
CVO
CA$6.21
Coveo Solutions
7D
9.9%
1Y
-18.9%

CVO: Long-Term Upside Will Depend On AI Execution With Government Partnerships

Analysts have trimmed their price targets on Coveo Solutions by about C$1 to C$2.50, reflecting updated views on fair value, slight adjustments to discount rates, and refreshed assumptions for revenue growth, profit margins, and future P/E levels. Analyst Commentary Recent research updates on Coveo Solutions point to a more measured stance on valuation, with price targets reduced by C$1 to C$2.50.
GOK
CA$0.095
GINSMS
7D
533.3%
1Y
850.0%
CMG
CA$4.77
Computer Modelling Group
7D
4.8%
1Y
-55.0%
ACT
CA$15.72
Aduro Clean Technologies
7D
-4.7%
1Y
101.5%
ABXX
CA$45.84
Abaxx Technologies
7D
14.6%
1Y
355.7%