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Canadian (TSX) Application Software Industry Analysis

UpdatedFeb 02, 2026
DataAggregated Company Financials
Companies71
  • 7D-9.4%
  • 3M-27.9%
  • 1Y-40.8%
  • YTDn/a

Over the last 7 days, the Application Software industry has dropped 9.4%, driven by a pullback from Constellation Software of 9.6%. However, the industry is down 41% over the past 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
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
Tue, 14 Mar 2023CA$83.7bCA$15.4b-CA$2,392,794,277.0027.8x-35x5.4x
Thu, 09 Feb 2023CA$85.7bCA$15.1b-CA$2,066,358,550.0029.4x-41.5x5.7x
Price to Earnings Ratio

-41.5x


Total Market Cap: CA$85.7bTotal Earnings: -CA$2,066,358,550.00Total Revenue: CA$15.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Application Software Industry Price to Earnings3Y Average 172.5x202420252026
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 859x which is higher than its 3-year average PE of 173x.
  • The 3-year average PS ratio of 6.1x is higher than the industry's current PS ratio of 3.7x.
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 Market-3.60%
Tech-8.09%
Software-9.45%
Application Software-9.38%
Systems Software-10.95%
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
DCBO DoceboCA$26.633.1%
+CA$22.7m		-55.6%PE24.9x
URAI Inturai VenturesCA$0.3939.3%
+CA$12.2m		358.8%n/a
IMP Intermap TechnologiesCA$1.765.4%
+CA$6.5m		-26.1%PS5.7x
ENGH Enghouse SystemsCA$18.710.6%
+CA$6.0m		-32.3%PE13.9x
THNC Thinkific LabsCA$2.034.1%
+CA$5.4m		-34.5%PE381.2x

Latest News

KXS
CA$137.50
Kinaxis
7D
-6.9%
1Y
-19.6%

KXS: Share Buybacks And New CEO Will Support Future Upside

Analysts have trimmed their fair value estimate for Kinaxis from about $227.33 to $219.45 as they factor in updated assumptions around discount rates, revenue growth, profit margins, and a lower projected future P/E multiple. What's in the News Kinaxis appointed Razat Gaurav as Chief Executive Officer effective January 12, 2026.
DSG
CA$101.69
Descartes Systems Group
7D
-10.3%
1Y
-39.6%
DCBO
CA$26.63
Docebo
7D
3.1%
1Y
-55.6%
LMN
CA$22.43
Lumine Group
7D
-7.0%
1Y
-40.0%
SPAI
CA$0.95
Sparc Al
7D
18.8%
1Y
322.2%
THNC
CA$2.03
Thinkific Labs
7D
4.1%
1Y
-34.5%

THNC: Share Buybacks And Neutral Rating Outlook May Support Future Upside

Analysts have reduced their fair value estimate for Thinkific Labs from about $5.01 to roughly $4.19 per share. This reflects a lower price target following a recent downgrade to Market Perform and updated assumptions for growth, margins, discount rate, and future P/E.
LSPD
CA$14.70
Lightspeed Commerce
7D
-6.6%
1Y
-27.0%

LSPD: Sector Reset And Legal Overhang Will Likely Constrain Future Upside

Analysts have trimmed their 12 month price target on Lightspeed Commerce to $14 from $15, citing updated sector assumptions and a refreshed outlook for software stocks into 2026. Analyst Commentary Bearish analysts cutting the 12 month price target to $14 are signaling a more guarded stance on Lightspeed Commerce, even as they see room for software stocks to re-rate into 2026.
BITF
CA$3.16
Bitfarms
7D
-11.5%
1Y
51.9%

BITF: Delayed Market Structure Rules Will Support Future AI And HPC Expansion

Analysts have reduced their Bitfarms price target to about US$8.48, reflecting slightly higher assumed discount rates and a marginally richer forward P/E multiple as they factor in ongoing uncertainty around potential delays in crypto related market structure legislation. Analyst Commentary Bullish Takeaways Bullish analysts see the updated US$8.48 target as still reflecting upside potential if crypto related legislation eventually provides clearer market structure, which could support higher sustained earnings to justify a richer P/E multiple.
ENGH
CA$18.71
Enghouse Systems
7D
0.6%
1Y
-32.3%

ENGH: Acquisition Pipeline And Buybacks Will Support Future Upside Potential

Analysts have kept their price target for Enghouse Systems broadly steady at about $22.00 per share, citing only minor tweaks to inputs such as discount rate, revenue growth, profit margin, and expected future P/E in their valuation work. What's in the News Management plans to pursue acquisitions, with the CEO indicating that the company sees acquisition opportunities that it expects to provide a return on invested capital, and is looking to expand its acquisition team to support this focus (company comments).
CSU
CA$2,512.96
Constellation Software
7D
-10.6%
1Y
-47.9%
IMP
CA$1.76
Intermap Technologies
7D
5.4%
1Y
-26.1%

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
TOI
CA$101.00
Topicus.com
7D
-9.5%
1Y
-26.8%

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
ABXX
CA$41.80
Abaxx Technologies
7D
-9.1%
1Y
273.2%
ZOMD
CA$1.18
Zoomd Technologies
7D
4.0%
1Y
51.3%
BEW
CA$0.90
BeWhere Holdings
7D
3.4%
1Y
30.4%
URAI
CA$0.39
Inturai Ventures
7D
39.3%
1Y
358.8%