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Canadian (TSX) Software Industry Analysis

UpdatedJun 18, 2026
DataAggregated Company Financials
Companies78
  • 7D-5.0%
  • 3M15.6%
  • 1Y-34.3%
  • YTD-7.5%

Over the last 7 days, the Software industry has dropped 5.0%, driven by Constellation Software declining 10%. Meanwhile, Xanadu Quantum Technologies actually outperformed within the industry, gaining 8.3% in the last week. Overall the industry is down 34% in 12 months. Earnings are forecast to grow by 19% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 19 Jun 2026CA$111.8bCA$28.0bCA$904.1m34.6x123.7x4x
Sun, 17 May 2026CA$100.5bCA$27.3bCA$74.7m34.2x1346.1x3.7x
Tue, 14 Apr 2026CA$88.2bCA$26.8b-CA$104,945,503.6636.6x-840.3x3.3x
Thu, 12 Mar 2026CA$104.9bCA$26.7b-CA$186,543,943.2639.8x-562.5x3.9x
Sat, 07 Feb 2026CA$91.6bCA$26.0bCA$163.5m36.9x560.5x3.5x
Mon, 05 Jan 2026CA$118.7bCA$26.1bCA$143.6m47.1x826.8x4.6x
Wed, 03 Dec 2025CA$122.3bCA$26.5bCA$149.9m51.1x816.3x4.6x
Fri, 31 Oct 2025CA$129.1bCA$25.6bCA$255.3m51.9x505.7x5.1x
Sun, 28 Sep 2025CA$134.3bCA$25.5bCA$263.6m55.1x509.5x5.3x
Tue, 26 Aug 2025CA$157.5bCA$25.3bCA$244.0m57.1x645.4x6.2x
Thu, 24 Jul 2025CA$166.2bCA$24.1bCA$173.7m55.6x956.8x6.9x
Sat, 21 Jun 2025CA$160.6bCA$24.3bCA$159.3m41.1x1008.1x6.6x
Mon, 19 May 2025CA$168.7bCA$24.6bCA$932.9m34.3x180.8x6.9x
Wed, 16 Apr 2025CA$148.8bCA$24.1bCA$450.4m29.7x330.3x6.2x
Fri, 14 Mar 2025CA$154.3bCA$24.9bCA$101.4m25.8x1520.8x6.2x
Sun, 09 Feb 2025CA$163.3bCA$23.9b-CA$2,374,785,406.6740.4x-68.8x6.8x
Tue, 07 Jan 2025CA$152.4bCA$24.0b-CA$2,400,229,808.3441.5x-63.5x6.4x
Thu, 05 Dec 2024CA$157.2bCA$23.6b-CA$2,333,975,024.6045.2x-67.3x6.7x
Sat, 02 Nov 2024CA$140.0bCA$22.6b-CA$2,527,881,446.9141.1x-55.4x6.2x
Mon, 30 Sep 2024CA$143.4bCA$21.9b-CA$2,462,920,457.8439.1x-58.2x6.5x
Wed, 28 Aug 2024CA$143.2bCA$21.9b-CA$2,505,371,748.5349.1x-57.2x6.5x
Fri, 26 Jul 2024CA$143.8bCA$21.6b-CA$3,427,835,957.7046.4x-42x6.7x
Sun, 23 Jun 2024CA$131.0bCA$21.6b-CA$3,385,284,807.1239.3x-38.7x6.1x
Tue, 21 May 2024CA$130.0bCA$21.5b-CA$3,427,960,806.5840.7x-37.9x6x
Thu, 18 Apr 2024CA$129.7bCA$21.1b-CA$4,273,226,818.0933.2x-30.3x6.2x
Sat, 16 Mar 2024CA$123.6bCA$20.7b-CA$4,802,886,544.3928.5x-25.7x6x
Mon, 12 Feb 2024CA$121.7bCA$19.7b-CA$2,884,020,939.0725x-42.2x6.2x
Wed, 10 Jan 2024CA$116.9bCA$19.8b-CA$3,961,278,379.0027.6x-29.5x5.9x
Fri, 08 Dec 2023CA$113.9bCA$20.2b-CA$4,236,877,137.0025.9x-26.9x5.6x
Sun, 05 Nov 2023CA$101.9bCA$19.7b-CA$4,386,307,501.0068.6x-23.2x5.2x
Tue, 03 Oct 2023CA$100.7bCA$19.4b-CA$4,200,079,623.0054.4x-24x5.2x
Thu, 31 Aug 2023CA$104.1bCA$19.4b-CA$4,144,228,476.0059.2x-25.1x5.4x
Sat, 29 Jul 2023CA$102.6bCA$18.2b-CA$3,867,055,440.0071.4x-26.5x5.6x
Mon, 26 Jun 2023CA$99.2bCA$17.9b-CA$3,938,982,418.0070.1x-25.2x5.5x
Price to Earnings Ratio

-25.2x


Total Market Cap: CA$99.2bTotal Earnings: -CA$3,938,982,418.00Total Revenue: CA$17.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Software Industry Price to Earnings3Y Average 152.9x202420252026
Current Industry PE
  • Investors are pessimistic on the Canadian Software industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 124x which is lower than its 3-year average PE of 153x.
  • The 3-year average PS ratio of 5.7x is higher than the industry's current PS ratio of 4.0x.
Past Earnings Growth
  • Total earnings for the Software industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 16% per year.
  • This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Trends

Which industries have driven the changes within the Canadian Tech industry?

CA Market2.79%
Tech-1.16%
Software-5.04%
Systems Software4.06%
Application Software-5.80%
Industry PE
  • Investors are most optimistic about the Systems Software industry which is trading above its 3-year average PE ratio of 105x.
    • Analysts are expecting annual earnings growth of 18.8%, which is lower than the prior year's growth of 98.5% per year.
  • Investors are most pessimistic about the Application Software industry, which is trading below its 3-year average of 151x.
Forecasted Growth
  • Analysts are most optimistic on the Application Software industry, expecting annual earnings growth of 19% over the next 5 years.
  • This is better than its past earnings decline of 5.4% per year.
  • In contrast, the Systems Software industry is expected to see its earnings grow by 19% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
XNDU Xanadu Quantum TechnologiesCA$18.848.3%
+CA$429.9m		n/aPS589.1x
BTQ BTQ TechnologiesCA$8.2534.8%
+CA$301.0m		108.9%PS17799.5x
HIVE HIVE Digital TechnologiesCA$6.0414.8%
+CA$208.6m		149.6%PS3.8x
DMGI DMG Blockchain SolutionsCA$0.6321.2%
+CA$22.8m		162.5%PS3.1x
CVO Coveo SolutionsCA$4.172.2%
+CA$8.4m		-42.3%PS1.8x

Latest News

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7D
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1Y
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DSG
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1Y
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HIVE
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HIVE Digital Technologies
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1Y
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ABXX
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Abaxx Technologies
7D
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1Y
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XNDU
CA$18.84
Xanadu Quantum Technologies
7D
8.3%
1Y
n/a
BB
CA$11.82
BlackBerry
7D
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1Y
100.7%
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Aduro Clean Technologies
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1Y
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CVO
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Coveo Solutions
7D
2.2%
1Y
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LSPD
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Lightspeed Commerce
7D
-2.1%
1Y
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CSU
CA$2,749.99
Constellation Software
7D
-10.1%
1Y
-43.5%
KXS
CA$146.43
Kinaxis
7D
-12.5%
1Y
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ZOMD
CA$0.47
Zoomd Technologies
7D
11.3%
1Y
-58.6%
YAI
CA$0.93
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7D
16.3%
1Y
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LMN
CA$22.43
Lumine Group
7D
-2.9%
1Y
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DMGI
CA$0.63
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7D
21.2%
1Y
162.5%
TOI
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7D
-6.2%
1Y
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