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Canadian (TSX) Application Software Industry Analysis

UpdatedApr 11, 2026
DataAggregated Company Financials
Companies70
  • 7D-5.7%
  • 3M-28.3%
  • 1Y-42.2%
  • YTDn/a

Over the last 7 days, the Application Software industry has dropped 5.7%, driven by a pullback from Constellation Software of 6.0%. Meanwhile, Abaxx Technologies actually outperformed within the industry, gaining 8.1% in the last week. However, the industry is down 42% over the past year. 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
Sat, 11 Apr 2026CA$85.7bCA$25.9b-CA$144,165,155.1933.1x-594.8x3.3x
Mon, 09 Mar 2026CA$101.8bCA$25.1bCA$54.0m38.9x1885x4.1x
Wed, 04 Feb 2026CA$90.1bCA$24.9bCA$173.5m33.9x519.1x3.6x
Fri, 02 Jan 2026CA$115.7bCA$25.1bCA$132.4m28.3x873.8x4.6x
Sun, 30 Nov 2025CA$119.9bCA$25.5bCA$136.9m39x875.4x4.7x
Tue, 28 Oct 2025CA$133.2bCA$24.6bCA$234.8m55.4x567.2x5.4x
Thu, 25 Sep 2025CA$138.5bCA$24.4bCA$240.5m56.9x575.8x5.7x
Sat, 23 Aug 2025CA$149.4bCA$24.3bCA$230.2m48.8x649.1x6.2x
Mon, 21 Jul 2025CA$165.1bCA$23.3bCA$166.1m53.3x993.6x7.1x
Wed, 18 Jun 2025CA$154.8bCA$23.1bCA$172.7m38.1x896.7x6.7x
Fri, 16 May 2025CA$160.7bCA$23.5bCA$952.3m31.1x168.7x6.8x
Sun, 13 Apr 2025CA$144.0bCA$22.9bCA$470.1m24.1x306.3x6.3x
Tue, 11 Mar 2025CA$154.7bCA$23.8bCA$317.0m21.1x488x6.5x
Thu, 06 Feb 2025CA$155.5bCA$22.7b-CA$2,169,158,930.7521.8x-71.7x6.9x
Sat, 04 Jan 2025CA$147.5bCA$22.9b-CA$2,182,228,648.9423.3x-67.6x6.5x
Mon, 02 Dec 2024CA$155.5bCA$22.2b-CA$2,126,107,365.5024.9x-73.1x7x
Wed, 30 Oct 2024CA$140.0bCA$21.3b-CA$2,322,724,597.6922x-60.3x6.6x
Fri, 27 Sep 2024CA$141.1bCA$20.7b-CA$2,255,667,899.1022.7x-62.5x6.8x
Sun, 25 Aug 2024CA$139.9bCA$20.8b-CA$2,281,333,400.3422.9x-61.3x6.7x
Tue, 23 Jul 2024CA$138.4bCA$20.3b-CA$3,174,803,353.9346.8x-43.6x6.8x
Thu, 20 Jun 2024CA$127.1bCA$20.2b-CA$3,137,472,419.1533.9x-40.5x6.3x
Sat, 18 May 2024CA$126.4bCA$20.0b-CA$3,171,826,239.1335.7x-39.9x6.3x
Mon, 15 Apr 2024CA$124.0bCA$19.6b-CA$4,005,581,413.1926.5x-30.9x6.3x
Wed, 13 Mar 2024CA$121.6bCA$19.2b-CA$3,927,996,386.0124.2x-31x6.3x
Fri, 09 Feb 2024CA$117.6bCA$18.2b-CA$3,086,615,827.1124.1x-38.1x6.5x
Sun, 07 Jan 2024CA$110.0bCA$18.3b-CA$3,161,613,652.0026.7x-34.8x6x
Tue, 05 Dec 2023CA$108.0bCA$18.6b-CA$3,346,171,170.0026.9x-32.3x5.8x
Thu, 02 Nov 2023CA$94.2bCA$18.1b-CA$3,424,037,156.0053.9x-27.5x5.2x
Sat, 30 Sep 2023CA$95.2bCA$17.8b-CA$3,375,301,939.0042.5x-28.2x5.4x
Mon, 28 Aug 2023CA$96.9bCA$17.9b-CA$3,375,160,498.0043.4x-28.7x5.4x
Wed, 26 Jul 2023CA$99.7bCA$16.6b-CA$3,084,665,426.0062.3x-32.3x6x
Fri, 23 Jun 2023CA$94.8bCA$16.6b-CA$2,954,141,591.0059.9x-32.1x5.7x
Sun, 21 May 2023CA$95.9bCA$16.8b-CA$2,195,111,551.0065x-43.7x5.7x
Tue, 18 Apr 2023CA$92.6bCA$15.6b-CA$2,314,456,956.0031.2x-40x5.9x
Price to Earnings Ratio

-40x


Total Market Cap: CA$92.6bTotal Earnings: -CA$2,314,456,956.00Total Revenue: CA$15.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Application Software Industry Price to Earnings3Y Average 150.4x202420252026
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 5.9x is higher than the industry's current PS ratio of 3.3x.
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 Market2.00%
Tech1.27%
Software-5.21%
Application Software-5.71%
Systems Software6.66%
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
ABXX Abaxx TechnologiesCA$56.608.1%
+CA$156.4m		520.6%PS1989.4x
KEEL Keel InfrastructureCA$2.956.9%
+CA$114.5m		163.4%n/a
HIVE HIVE Digital TechnologiesCA$2.907.8%
+CA$53.2m		41.5%PS2.1x
NDA Neptune Digital AssetsCA$0.9818.1%
+CA$19.2m		-31.0%PS73.1x
DGX Digi Power XCA$3.258.7%
+CA$18.3m		132.1%PS4.8x

Latest News

DGX
CA$3.25
Digi Power X
7D
8.7%
1Y
132.1%
LSPD
CA$11.72
Lightspeed Commerce
7D
-5.4%
1Y
-7.7%
DSG
CA$87.31
Descartes Systems Group
7D
-12.2%
1Y
-38.2%
DMGI
CA$0.26
DMG Blockchain Solutions
7D
10.9%
1Y
13.3%
CSU
CA$2,295.18
Constellation Software
7D
-6.0%
1Y
-49.6%

AI Reinvestment Risks And Acquisition Pressures Will Still Support Long Term Earnings Potential

Catalysts About Constellation Software Constellation Software acquires, owns and operates vertical market software businesses that provide mission critical solutions to customers around the world. What are the underlying business or industry changes driving this perspective?
DCBO
CA$20.36
Docebo
7D
-14.5%
1Y
-50.7%

DCBO: Buybacks And Solid Bookings Are Expected To Support Upside Repricing

Narrative update Analysts have trimmed their average price targets on Docebo, with recent cuts such as Scotiabank moving to CA$25 from CA$32, Morgan Stanley to CA$26 from CA$28, and Stifel to CA$28 from CA$34. These revisions reflect expectations for softer near-term organic subscription growth and contract headwinds, even as analysts point to solid gross bookings and a core business that appears healthier than the headline metrics suggest.
DND
CA$4.05
Dye & Durham
7D
4.1%
1Y
-50.7%

DND: Ongoing Review And Filing Progress Will Support Future Repricing Potential

Analysts have trimmed their average price target for Dye & Durham by CA$0.50 to CA$4.00. This change reflects recent target cuts and ongoing questions about the company’s financial health and progress on its review process.
ABXX
CA$56.60
Abaxx Technologies
7D
8.1%
1Y
520.6%
CMG
CA$4.02
Computer Modelling Group
7D
-8.2%
1Y
-43.9%
KXS
CA$134.02
Kinaxis
7D
-6.5%
1Y
-18.2%

KXS: AI Supply Chain Orchestration And GPU Acceleration Will Support Future Upside

Kinaxis' updated fair value estimate edges up to CA$209.65 from CA$205.52, even as Street price targets consolidate around CA$200. Analysts point to recent target trims at several firms while still backing the long term earnings profile reflected in slightly adjusted discount rate, profit margin and future P/E assumptions.
LMN
CA$21.60
Lumine Group
7D
-6.1%
1Y
-45.1%
TOI
CA$91.51
Topicus.com
7D
-5.0%
1Y
-36.9%
HIVE
CA$2.90
HIVE Digital Technologies
7D
7.8%
1Y
41.5%
NDA
CA$0.98
Neptune Digital Assets
7D
18.1%
1Y
-31.0%
FTRC
CA$0.27
FUTR
7D
60.6%
1Y
10.4%