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Canadian (TSX) Application Software Industry Analysis

UpdatedMar 05, 2026
DataAggregated Company Financials
Companies71
  • 7D6.7%
  • 3M-21.5%
  • 1Y-40.9%
  • YTDn/a

The Application Software industry is up 6.7% in the last week, with Constellation Software up 7.8%. In contrast, the industry has lost 41% in the last 12 months. As for the next few years, earnings are expected to grow by 22% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 05 Mar 2026CA$93.5bCA$25.1b-CA$22,662,354.9137.7x-4126.2x3.7x
Sat, 31 Jan 2026CA$93.2bCA$24.9bCA$107.6m31.2x865.9x3.7x
Mon, 29 Dec 2025CA$116.6bCA$25.0bCA$136.7m38.7x853.1x4.7x
Wed, 26 Nov 2025CA$117.9bCA$25.7bCA$133.7m39.4x881.5x4.6x
Fri, 24 Oct 2025CA$129.8bCA$24.5bCA$234.0m56.2x554.6x5.3x
Sun, 21 Sep 2025CA$149.6bCA$24.2bCA$236.9m60.4x631.4x6.2x
Tue, 19 Aug 2025CA$147.9bCA$24.2bCA$228.8m47x646.4x6.1x
Thu, 17 Jul 2025CA$160.5bCA$23.2bCA$165.1m46.5x972x6.9x
Sat, 14 Jun 2025CA$157.5bCA$23.1bCA$171.5m38.2x918.3x6.8x
Mon, 12 May 2025CA$163.1bCA$23.0bCA$990.7m30.3x164.7x7.1x
Wed, 09 Apr 2025CA$138.3bCA$23.3bCA$484.9m22.7x285.2x5.9x
Fri, 07 Mar 2025CA$155.9bCA$23.0b-CA$2,092,500,355.3122.1x-74.5x6.8x
Sun, 02 Feb 2025CA$154.2bCA$23.0b-CA$2,198,194,673.1624.8x-70.1x6.7x
Tue, 31 Dec 2024CA$149.1bCA$22.7b-CA$2,168,939,930.0625.5x-68.7x6.6x
Thu, 28 Nov 2024CA$153.4bCA$22.2b-CA$2,142,531,383.9734.3x-71.6x6.9x
Sat, 26 Oct 2024CA$140.7bCA$21.3b-CA$2,315,137,392.3722.3x-60.8x6.6x
Mon, 23 Sep 2024CA$141.5bCA$20.9b-CA$2,269,114,929.9223.3x-62.4x6.8x
Wed, 21 Aug 2024CA$137.8bCA$21.0b-CA$2,268,472,147.3330.7x-60.8x6.6x
Fri, 19 Jul 2024CA$138.3bCA$20.3b-CA$3,164,120,233.1944.7x-43.7x6.8x
Sun, 16 Jun 2024CA$128.2bCA$20.2b-CA$3,142,837,156.5936.3x-40.8x6.3x
Tue, 14 May 2024CA$126.0bCA$20.0b-CA$3,274,564,334.2835.8x-38.5x6.3x
Thu, 11 Apr 2024CA$126.2bCA$19.4b-CA$3,972,318,038.0521.7x-31.8x6.5x
Sat, 09 Mar 2024CA$121.8bCA$19.2b-CA$3,928,515,371.4224.6x-31x6.3x
Mon, 05 Feb 2024CA$122.8bCA$18.4b-CA$3,166,860,596.0026.2x-38.8x6.7x
Wed, 03 Jan 2024CA$109.6bCA$18.4b-CA$3,247,679,006.0026.2x-33.8x6x
Fri, 01 Dec 2023CA$107.6bCA$18.6b-CA$3,372,082,067.0029.4x-31.9x5.8x
Sun, 29 Oct 2023CA$92.0bCA$18.1b-CA$3,425,873,099.0042.1x-26.9x5.1x
Tue, 26 Sep 2023CA$93.8bCA$17.7b-CA$3,351,639,739.0041.4x-28x5.3x
Thu, 24 Aug 2023CA$98.1bCA$17.8b-CA$3,361,987,294.0043.5x-29.2x5.5x
Sat, 22 Jul 2023CA$99.8bCA$16.6b-CA$3,091,547,678.0062.4x-32.3x6x
Mon, 19 Jun 2023CA$96.0bCA$16.7b-CA$2,962,810,581.0061.6x-32.4x5.8x
Wed, 17 May 2023CA$92.8bCA$16.7b-CA$2,221,257,640.0051.6x-41.8x5.6x
Fri, 14 Apr 2023CA$92.7bCA$15.6b-CA$2,308,913,009.0031.2x-40.2x5.9x
Sun, 12 Mar 2023CA$83.0bCA$15.5b-CA$2,404,671,752.0028.6x-34.5x5.4x
Price to Earnings Ratio

-34.5x


Total Market Cap: CA$83.0bTotal Earnings: -CA$2,404,671,752.00Total Revenue: CA$15.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Application Software Industry Price to Earnings3Y Average 158.2x202420252026
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 3.7x.
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-0.89%
Tech1.70%
Software6.40%
Application Software6.70%
Systems Software-0.55%
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$2.65k7.8%
+CA$4.0b		-46.9%PE59.9x
TOI Topicus.comCA$100.4211.5%
+CA$863.4m		-28.8%PE126.2x
DSG Descartes Systems GroupCA$93.035.2%
+CA$394.7m		-41.5%PE37.7x
LMN Lumine GroupCA$21.545.3%
+CA$277.2m		-40.7%PE41.1x
KXS KinaxisCA$130.095.9%
+CA$201.6m		-18.8%PE75.6x

Latest News

KXS
CA$130.09
Kinaxis
7D
5.9%
1Y
-18.8%
ABXX
CA$39.90
Abaxx Technologies
7D
-4.9%
1Y
271.5%
DSG
CA$93.03
Descartes Systems Group
7D
5.2%
1Y
-41.5%
DND
CA$5.09
Dye & Durham
7D
28.5%
1Y
-61.3%
ISTK
CA$0.67
Intellistake Technologies
7D
-9.5%
1Y
378.6%
NCI
CA$1.02
NTG Clarity Networks
7D
-12.8%
1Y
-51.4%

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$5.21
Coveo Solutions
7D
-10.8%
1Y
-15.0%
DCBO
CA$25.39
Docebo
7D
9.1%
1Y
-46.7%
LMN
CA$21.54
Lumine Group
7D
5.3%
1Y
-40.7%
TOI
CA$100.42
Topicus.com
7D
11.5%
1Y
-28.8%
CSU
CA$2,650.66
Constellation Software
7D
7.8%
1Y
-46.9%

Constellation Software: The Fortress the AI Panic Forgot to Account For

Headline: Constellation Software (CSU): Why the AI Sell-off is a Category Error (and a Generational Buy) The market is currently punishing Constellation Software by applying a "generic AI disruption" narrative that fundamentally misunderstands the DNA of the business. Investors are pricing CSU as if it were a commodity software play, when in reality, it is a holding company for critical digital infrastructure.
LSPD
CA$12.98
Lightspeed Commerce
7D
3.3%
1Y
-23.2%

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$3.07
Bitfarms
7D
-2.8%
1Y
80.6%

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.
ACT
CA$15.41
Aduro Clean Technologies
7D
-2.3%
1Y
118.0%
IMP
CA$1.40
Intermap Technologies
7D
-5.4%
1Y
-28.9%

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
CLIP
CA$0.11
Clip Money
7D
-31.3%
1Y
-52.2%