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Canadian (TSX) Application Software Industry Analysis

UpdatedMar 19, 2026
DataAggregated Company Financials
Companies72
  • 7D-3.7%
  • 3M-20.9%
  • 1Y-37.9%
  • YTDn/a

Over the last 7 days, the Application Software industry has dropped 3.7%, driven by a pullback from Constellation Software of 4.9%. Overall the industry is down 38% in 12 months. Earnings are forecast to grow by 25% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 19 Mar 2026CA$92.8bCA$26.0b-CA$186,526,856.9437.4x-497.4x3.6x
Sat, 14 Feb 2026CA$82.6bCA$24.9bCA$142.5m29.6x579.8x3.3x
Mon, 12 Jan 2026CA$116.8bCA$25.4bCA$135.6m39.5x861.5x4.6x
Wed, 10 Dec 2025CA$117.7bCA$25.3bCA$141.3m40.7x833.3x4.7x
Fri, 07 Nov 2025CA$123.4bCA$25.0bCA$100.2m52.1x1231.6x4.9x
Sun, 05 Oct 2025CA$137.9bCA$24.5bCA$238.8m54.7x577.8x5.6x
Tue, 02 Sep 2025CA$151.9bCA$24.1bCA$228.8m60.6x664x6.3x
Thu, 31 Jul 2025CA$162.3bCA$23.4bCA$156.2m48.8x1039x6.9x
Sat, 28 Jun 2025CA$157.4bCA$23.3bCA$181.8m40.9x866.1x6.8x
Mon, 26 May 2025CA$157.8bCA$23.2bCA$191.3m34.3x825.1x6.8x
Wed, 23 Apr 2025CA$146.3bCA$22.8bCA$473.4m27.3x309x6.4x
Fri, 21 Mar 2025CA$146.9bCA$23.4bCA$317.0m22.8x463.4x6.3x
Sun, 16 Feb 2025CA$158.1bCA$22.6b-CA$2,081,163,004.3421.2x-76x7x
Tue, 14 Jan 2025CA$142.4bCA$22.8b-CA$2,177,241,450.8922.7x-65.4x6.3x
Thu, 12 Dec 2024CA$153.6bCA$22.5b-CA$2,134,433,109.3525.2x-72x6.8x
Sat, 09 Nov 2024CA$145.8bCA$21.5b-CA$2,026,466,404.5423.4x-71.9x6.8x
Mon, 07 Oct 2024CA$140.5bCA$20.8b-CA$2,270,467,663.4622.4x-61.9x6.7x
Wed, 04 Sep 2024CA$140.5bCA$20.8b-CA$2,268,001,557.1822.3x-61.9x6.8x
Fri, 02 Aug 2024CA$142.0bCA$20.4b-CA$3,168,916,297.7145.4x-44.8x6.9x
Sun, 30 Jun 2024CA$132.0bCA$20.2b-CA$3,150,681,860.8541.9x-41.9x6.5x
Tue, 28 May 2024CA$129.2bCA$20.1b-CA$3,164,409,828.3939.2x-40.8x6.4x
Thu, 25 Apr 2024CA$127.2bCA$19.5b-CA$3,995,551,595.5435.6x-31.8x6.5x
Sat, 23 Mar 2024CA$120.5bCA$19.3b-CA$3,949,120,338.4122.2x-30.5x6.2x
Mon, 19 Feb 2024CA$119.3bCA$18.4b-CA$1,918,703,365.2022.2x-62.2x6.5x
Wed, 17 Jan 2024CA$117.2bCA$18.5b-CA$3,184,567,593.0025.2x-36.8x6.3x
Fri, 15 Dec 2023CA$111.5bCA$18.5b-CA$3,260,005,098.0025.6x-34.2x6x
Sun, 12 Nov 2023CA$102.5bCA$18.9b-CA$3,436,196,029.0046.2x-29.8x5.4x
Tue, 10 Oct 2023CA$97.7bCA$17.9b-CA$3,390,244,122.0043.9x-28.8x5.5x
Thu, 07 Sep 2023CA$98.3bCA$17.9b-CA$3,305,438,016.0044.8x-29.7x5.5x
Sat, 05 Aug 2023CA$96.7bCA$17.0b-CA$2,989,210,899.0043.7x-32.4x5.7x
Mon, 03 Jul 2023CA$98.6bCA$16.7b-CA$2,924,511,938.0062.8x-33.7x5.9x
Wed, 31 May 2023CA$94.5bCA$17.0b-CA$3,093,354,372.0071.3x-30.6x5.6x
Fri, 28 Apr 2023CA$93.6bCA$16.2b-CA$2,297,766,134.0035.8x-40.7x5.8x
Sun, 26 Mar 2023CA$86.8bCA$15.3b-CA$2,419,307,225.0027.1x-35.9x5.7x
Price to Earnings Ratio

-35.9x


Total Market Cap: CA$86.8bTotal Earnings: -CA$2,419,307,225.00Total Revenue: CA$15.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Application Software Industry Price to Earnings3Y Average 160x202420252026
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 3.6x.
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 19% 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-2.57%
Tech-1.43%
Software-3.73%
Application Software-3.67%
Systems Software-5.19%
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
DSG Descartes Systems GroupCA$97.674.1%
+CA$332.9m		-31.8%PE37.4x
BITF BitfarmsCA$3.174.6%
+CA$84.4m		105.8%PS5x
ABXX Abaxx TechnologiesCA$38.485.9%
+CA$79.3m		295.5%PS1740x
HIVE HIVE Digital TechnologiesCA$2.993.8%
+CA$27.9m		24.1%PS2.1x
SPAI Sparc AlCA$2.7076.5%
+CA$27.1m		671.4%PB258.8x

Latest News

BITF
CA$3.17
Bitfarms
7D
4.6%
1Y
105.8%
KXS
CA$136.38
Kinaxis
7D
-1.9%
1Y
-14.4%
CVO
CA$4.67
Coveo Solutions
7D
-8.3%
1Y
-18.8%

CVO: Future Upside Will Rely On Execution Of Sovereign AI Partnership

Analysts have trimmed their average price target on Coveo Solutions by CA$0.37, reflecting updated views on fair value, discount rates, growth assumptions and margins following recent target reductions from several firms. Analyst Commentary Recent target cuts from several firms point to a more conservative stance on Coveo Solutions, with analysts refining their views on valuation, growth, and execution risk rather than making wholesale changes to their overall thesis.
DCBO
CA$27.16
Docebo
7D
-11.4%
1Y
-37.1%
ENGH
CA$15.64
Enghouse Systems
7D
-12.7%
1Y
-40.6%
SPAI
CA$2.70
Sparc Al
7D
76.5%
1Y
671.4%
DSG
CA$97.67
Descartes Systems Group
7D
4.1%
1Y
-31.8%
CSU
CA$2,567.93
Constellation Software
7D
-4.9%
1Y
-44.8%
VSBY
CA$0.15
VSBLTY Groupe Technologies
7D
158.3%
1Y
29.2%
LMN
CA$24.40
Lumine Group
7D
-2.6%
1Y
-35.8%
TOI
CA$97.08
Topicus.com
7D
-6.9%
1Y
-30.0%
LSPD
CA$12.40
Lightspeed Commerce
7D
-2.4%
1Y
-17.4%

LSPD: Sector Reset And AI Investments Will Shape Balanced Risk Reward

The consensus analyst price target for Lightspeed Commerce has been reduced by CA$1.86. Analysts are incorporating slightly lower fair value estimates, a modestly higher discount rate, and more cautious revenue growth assumptions.
CLIP
CA$0.23
Clip Money
7D
64.3%
1Y
9.5%
ABXX
CA$38.48
Abaxx Technologies
7D
5.9%
1Y
295.5%
HIVE
CA$2.99
HIVE Digital Technologies
7D
3.8%
1Y
24.1%
ACT
CA$16.00
Aduro Clean Technologies
7D
3.0%
1Y
121.9%