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Canadian (TSX) Application Software Industry Analysis

UpdatedMar 06, 2026
DataAggregated Company Financials
Companies72
  • 7D6.8%
  • 3M-17.0%
  • 1Y-36.1%
  • YTDn/a

The Application Software industry is up 6.8% in the last week, with Constellation Software up 7.3%. In the same time, Abaxx Technologies was down 7.7%. In contrast, the industry has lost 36% in the last 12 months. Earnings are forecast to grow by 22% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 07 Mar 2026CA$92.9bCA$25.2bCA$54.2m38.5x1713.2x3.7x
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
Price to Earnings Ratio

-35x


Total Market Cap: CA$83.7bTotal Earnings: -CA$2,392,794,277.00Total Revenue: CA$15.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Application Software Industry Price to Earnings3Y Average 156.1x202420252026
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 2kx which is higher than its 3-year average PE of 155x.
  • The 3-year average PS ratio of 6.0x 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-2.97%
Tech2.56%
Software6.55%
Application Software6.78%
Systems Software1.50%
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
CSU Constellation SoftwareCA$2.96k17.6%
+CA$9.4b		-40.1%PE67.3x
LMN Lumine GroupCA$26.8026.2%
+CA$1.4b		-30.4%PE42.6x
TOI Topicus.comCA$109.6317.0%
+CA$1.3b		-25.4%PE138.7x
DSG Descartes Systems GroupCA$97.518.1%
+CA$626.8m		-32.4%PE39.7x
KXS KinaxisCA$135.234.4%
+CA$158.2m		-16.6%PE38.9x

Latest News

CSU
CA$2,963.34
Constellation Software
7D
17.6%
1Y
-40.1%
THNC
CA$1.69
Thinkific Labs
7D
-9.6%
1Y
-47.7%
LMN
CA$26.80
Lumine Group
7D
26.2%
1Y
-30.4%
KXS
CA$135.23
Kinaxis
7D
4.4%
1Y
-16.6%
DND
CA$5.00
Dye & Durham
7D
16.6%
1Y
-62.0%

Platform Integration And Housing Exposure Will Pressure This Business For Years

Catalysts About Dye & Durham Dye & Durham provides legal software and banking technology solutions that are embedded in high frequency workflows for small and midsized law firms and financial institutions. What are the underlying business or industry changes driving this perspective?
ABXX
CA$39.00
Abaxx Technologies
7D
-7.7%
1Y
249.8%
DSG
CA$97.51
Descartes Systems Group
7D
8.1%
1Y
-32.4%
ISTK
CA$0.64
Intellistake Technologies
7D
-13.5%
1Y
357.1%
NCI
CA$1.01
NTG Clarity Networks
7D
-12.6%
1Y
-51.0%

NCI: Growing Middle East Contracts Will Drive Strong Future Earnings Potential

Analysts have trimmed their price target on NTG Clarity Networks to CA$2.50 from CA$2.70. They cite slightly higher discount rate assumptions and more cautious estimates for revenue growth and profit margins, while keeping future P/E expectations broadly similar.
CVO
CA$5.05
Coveo Solutions
7D
-11.7%
1Y
-10.5%
DCBO
CA$26.35
Docebo
7D
11.8%
1Y
-41.0%
TOI
CA$109.63
Topicus.com
7D
17.0%
1Y
-25.4%
HIVE
CA$2.80
HIVE Digital Technologies
7D
-4.8%
1Y
-3.4%
LSPD
CA$13.00
Lightspeed Commerce
7D
5.6%
1Y
-20.7%

LSPD: Product Execution And Margin Discipline Will Support Long-Term Upside Potential

Analysts have reduced their average price target for Lightspeed Commerce to about CA$19.24 from CA$19.78, citing slightly higher discount rate assumptions and updated P/E expectations, while revenue growth and profit margin inputs remain broadly consistent. Analyst Commentary Recent research updates show a cluster of reductions in Lightspeed Commerce price targets, often framed as adjustments to models and sector views rather than company specific revisions to revenue or margin assumptions.
BITF
CA$2.76
Bitfarms
7D
-8.0%
1Y
54.2%

BITF: Liquidity Management And Emerging Crypto Rules Will Support Future Upside

Analysts have revised their Bitfarms price target to CA$8.48, reflecting slightly higher discount rate assumptions and updated views on revenue growth, margins, and future P/E in light of liquidity concerns and ongoing regulatory uncertainty around crypto market structure. Analyst Commentary Bullish Takeaways Bullish analysts see the revised CA$8.48 target as still allowing room for execution on revenue growth and margin initiatives, provided liquidity pressures are managed carefully.
TINY
CA$6.25
Tiny
7D
-4.4%
1Y
-39.9%

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

Feb 10
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