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Canadian (TSX) Application Software Industry Analysis

UpdatedFeb 24, 2026
DataAggregated Company Financials
Companies71
  • 7D0.9%
  • 3M-28.6%
  • 1Y-45.4%
  • YTDn/a

The Application Software industry is up 4.1% in the last week, with Constellation Software up 5.5%. In the same time, Abaxx Technologies was down 7.8%. However, the industry is down 44% 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
Tue, 24 Feb 2026CA$87.4bCA$25.1b-CA$75,506,318.8434.7x-1157.9x3.5x
Thu, 22 Jan 2026CA$99.6bCA$25.3bCA$128.6m39.6x775.1x3.9x
Sat, 20 Dec 2025CA$115.9bCA$25.2bCA$138.4m40.1x837.5x4.6x
Mon, 17 Nov 2025CA$114.2bCA$25.4bCA$217.5m46.8x525.2x4.5x
Wed, 15 Oct 2025CA$135.9bCA$24.6bCA$239.5m56.1x567.5x5.5x
Fri, 12 Sep 2025CA$149.5bCA$24.3bCA$235.6m65.2x634.5x6.1x
Sun, 10 Aug 2025CA$154.7bCA$24.1bCA$147.8m49.3x1046.7x6.4x
Tue, 08 Jul 2025CA$161.7bCA$23.2bCA$169.6m40.4x953x7x
Thu, 05 Jun 2025CA$161.0bCA$23.2bCA$175.9m40.3x915.3x7x
Sat, 03 May 2025CA$157.6bCA$22.8bCA$920.7m32.2x171.2x6.9x
Mon, 31 Mar 2025CA$145.6bCA$23.5bCA$431.7m22.2x337.3x6.2x
Wed, 26 Feb 2025CA$154.2bCA$22.8b-CA$2,098,257,934.5425.5x-73.5x6.8x
Fri, 24 Jan 2025CA$149.2bCA$22.8b-CA$2,169,010,491.0825.2x-68.8x6.6x
Sun, 22 Dec 2024CA$147.3bCA$22.8b-CA$2,170,585,493.3226.1x-67.9x6.5x
Tue, 19 Nov 2024CA$146.9bCA$22.3b-CA$2,152,579,480.0423.4x-68.2x6.6x
Thu, 17 Oct 2024CA$142.2bCA$21.1b-CA$2,296,003,294.5422.5x-61.9x6.7x
Sat, 14 Sep 2024CA$138.2bCA$20.9b-CA$2,275,441,312.5022.1x-60.7x6.6x
Mon, 12 Aug 2024CA$133.8bCA$21.1b-CA$2,321,200,699.4632.5x-57.6x6.3x
Wed, 10 Jul 2024CA$135.0bCA$20.1b-CA$3,139,876,383.3244.2x-43x6.7x
Fri, 07 Jun 2024CA$129.0bCA$20.2b-CA$3,131,089,661.2037.9x-41.2x6.4x
Sun, 05 May 2024CA$124.6bCA$19.4b-CA$3,313,086,817.2735x-37.6x6.4x
Tue, 02 Apr 2024CA$126.1bCA$19.3b-CA$3,940,519,052.6522.2x-32x6.5x
Thu, 29 Feb 2024CA$120.6bCA$18.5b-CA$1,910,539,363.4723.6x-63.1x6.5x
Sat, 27 Jan 2024CA$119.3bCA$18.4b-CA$3,174,852,497.0026.8x-37.6x6.5x
Mon, 25 Dec 2023CA$111.4bCA$18.3b-CA$3,228,336,519.0027.2x-34.5x6.1x
Wed, 22 Nov 2023CA$106.1bCA$18.8b-CA$3,397,934,155.0030x-31.2x5.6x
Fri, 20 Oct 2023CA$96.0bCA$18.0b-CA$3,400,125,293.0044.3x-28.2x5.3x
Sun, 17 Sep 2023CA$99.3bCA$17.7b-CA$3,363,995,784.0043.4x-29.5x5.6x
Tue, 15 Aug 2023CA$96.3bCA$17.8b-CA$3,333,682,875.0042.4x-28.9x5.4x
Thu, 13 Jul 2023CA$95.6bCA$16.6b-CA$2,909,309,618.0061.8x-32.9x5.8x
Sat, 10 Jun 2023CA$94.6bCA$16.8b-CA$2,973,774,387.0067.4x-31.8x5.6x
Mon, 08 May 2023CA$92.3bCA$16.0b-CA$2,315,839,989.0051.1x-39.8x5.8x
Wed, 05 Apr 2023CA$92.1bCA$15.7b-CA$2,375,946,796.0031.2x-38.8x5.9x
Fri, 03 Mar 2023CA$83.8bCA$15.1b-CA$2,319,425,526.0030.9x-36.1x5.5x
Price to Earnings Ratio

-36.1x


Total Market Cap: CA$83.8bTotal Earnings: -CA$2,319,425,526.00Total Revenue: CA$15.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Application Software Industry Price to Earnings3Y Average 176.6x202420252026
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 Market1.52%
Tech2.09%
Software0.74%
Application Software0.91%
Systems Software-2.88%
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$2.41k2.1%
+CA$1.1b		-50.6%PE54.2x
TOI Topicus.comCA$88.563.8%
+CA$273.4m		-35.4%PE175.6x
LMN Lumine GroupCA$19.305.5%
+CA$256.6m		-49.3%PE36.7x
DGX Digi Power XCA$3.326.8%
+CA$13.9m		40.7%PS5.1x
QBTQ SuperQ Quantum ComputingCA$1.2025.0%
+CA$7.5m		500.0%PB77.8x

Latest News

CSU
CA$2,406.97
Constellation Software
7D
2.1%
1Y
-50.6%

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.
DCBO
CA$22.60
Docebo
7D
-12.4%
1Y
-59.0%

DCBO: Rebased Earnings Profile And Buybacks Will Support Future Upside Repricing

Analysts have trimmed their average Docebo price target by about CA$0.34, reflecting slightly updated assumptions on discount rate, revenue growth, profit margins and future P/E multiples, while still viewing the core earnings profile as intact. Analyst Commentary Recent research updates on Docebo point to more cautious pricing assumptions, even as analysts broadly see the core business model as unchanged.
BITF
CA$2.79
Bitfarms
7D
-4.8%
1Y
58.5%

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.
KXS
CA$119.08
Kinaxis
7D
-3.8%
1Y
-21.3%

AI Supply Chain Adoption Risks Will Persist Yet Eventually Support A Healthier Business Mix

Catalysts About Kinaxis Kinaxis provides cloud-based supply chain planning and orchestration software for large enterprises globally. What are the underlying business or industry changes driving this perspective?
HIVE
CA$2.88
HIVE Digital Technologies
7D
-5.0%
1Y
-15.3%
CVO
CA$5.75
Coveo Solutions
7D
0.9%
1Y
-19.6%

CVO: AI Progress And Buybacks Will Support Future Upside

Analysts have trimmed their average price target on Coveo Solutions by approximately CA$2, citing slightly more cautious assumptions on revenue growth and valuation multiples, while expectations for firmer profit margins partly offset these changes. Analyst Commentary Even with the lower price targets, bullish analysts still see a constructive setup for Coveo Solutions, pointing to a mix of execution, margin potential, and growth optionality that they believe is not fully captured in recent target trims of C$1 to C$2.50.
ACT
CA$14.14
Aduro Clean Technologies
7D
-4.2%
1Y
80.1%
TOI
CA$88.56
Topicus.com
7D
3.8%
1Y
-35.4%
LMN
CA$19.30
Lumine Group
7D
5.5%
1Y
-49.3%
ABXX
CA$40.65
Abaxx Technologies
7D
-3.2%
1Y
286.4%
DSG
CA$86.02
Descartes Systems Group
7D
-4.0%
1Y
-45.6%

DSG: Freight Headwinds And Buyback Plan Will Shape Bullish Upside Potential

Analysts have reduced their average 12 month price target on Descartes Systems Group to CA$134.07, with recent cuts from firms such as Scotiabank, Wolfe Research and Morgan Stanley offset by upgrades that point to a potential inflection in growth and relatively low valuation levels. Analyst Commentary Recent research paints a mixed picture for Descartes Systems Group, with some analysts leaning more positive on the long term setup while others are trimming expectations in the near term.
DGX
CA$3.32
Digi Power X
7D
6.8%
1Y
40.7%
QBTQ
CA$1.20
SuperQ Quantum Computing
7D
25.0%
1Y
500.0%
IMP
CA$1.53
Intermap Technologies
7D
-18.2%
1Y
-38.1%

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
ZOMD
CA$1.00
Zoomd Technologies
7D
6.4%
1Y
42.9%
BEW
CA$0.96
BeWhere Holdings
7D
0%
1Y
52.4%