Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Canadian (TSX) Software Industry Analysis

UpdatedJun 27, 2026
DataAggregated Company Financials
Companies78
  • 7D1.2%
  • 3M19.4%
  • 1Y-36.4%
  • YTD-9.3%

Over the last 7 days, the Software industry has remained flat, although notably BlackBerry gained 34%. As for the longer term, the industry has declined 37% in the last year. Looking forward, 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
Sat, 27 Jun 2026CA$107.8bCA$28.1bCA$911.2m33.8x118.3x3.8x
Mon, 25 May 2026CA$106.7bCA$27.4bCA$891.0m35.9x119.8x3.9x
Wed, 22 Apr 2026CA$99.2bCA$26.6b-CA$105,386,805.9939.9x-941.4x3.7x
Fri, 20 Mar 2026CA$95.6bCA$27.0b-CA$181,063,140.2238.1x-527.9x3.5x
Sun, 15 Feb 2026CA$87.7bCA$25.9bCA$159.0m35x552x3.4x
Tue, 13 Jan 2026CA$122.2bCA$26.3bCA$147.8m49x827x4.6x
Thu, 11 Dec 2025CA$123.3bCA$26.2bCA$151.7m52.2x813.2x4.7x
Sat, 08 Nov 2025CA$124.2bCA$25.9bCA$118.5m54x1048.2x4.8x
Mon, 06 Oct 2025CA$143.8bCA$25.5bCA$259.7m54.7x553.5x5.6x
Wed, 03 Sep 2025CA$156.5bCA$25.2bCA$237.6m69.8x658.4x6.2x
Fri, 01 Aug 2025CA$167.6bCA$24.5bCA$166.6m50.7x1006x6.8x
Sun, 29 Jun 2025CA$164.9bCA$24.3bCA$191.7m45.6x860.3x6.8x
Tue, 27 May 2025CA$162.3bCA$24.3bCA$166.7m34.7x973.9x6.7x
Thu, 24 Apr 2025CA$151.3bCA$24.0bCA$439.5m29.7x344.4x6.3x
Sat, 22 Mar 2025CA$151.4bCA$24.7bCA$89.5m26.6x1690.5x6.1x
Mon, 17 Feb 2025CA$163.9bCA$23.8b-CA$2,307,848,099.5028.7x-71x6.9x
Wed, 15 Jan 2025CA$146.3bCA$24.0b-CA$2,404,889,701.7240.6x-60.8x6.1x
Fri, 13 Dec 2024CA$158.2bCA$23.8b-CA$2,363,187,335.9843.3x-67x6.6x
Sun, 10 Nov 2024CA$148.4bCA$23.2b-CA$2,319,705,220.8743.7x-64x6.4x
Tue, 08 Oct 2024CA$143.3bCA$22.1b-CA$2,480,359,571.3342x-57.8x6.5x
Thu, 05 Sep 2024CA$140.1bCA$21.9b-CA$2,493,934,278.1242.6x-56.2x6.4x
Sat, 03 Aug 2024CA$140.9bCA$21.7b-CA$3,387,488,387.0144.2x-41.6x6.5x
Mon, 01 Jul 2024CA$135.1bCA$21.3b-CA$3,438,889,238.2942.8x-39.3x6.3x
Wed, 29 May 2024CA$130.3bCA$21.6b-CA$3,421,992,438.9356.4x-38.1x6x
Fri, 26 Apr 2024CA$128.3bCA$20.9b-CA$4,249,765,602.7745.9x-30.2x6.1x
Sun, 24 Mar 2024CA$123.9bCA$20.8b-CA$4,812,410,606.7529.2x-25.7x6x
Tue, 20 Feb 2024CA$122.7bCA$19.8b-CA$2,760,829,945.9124.5x-44.4x6.2x
Thu, 18 Jan 2024CA$120.1bCA$20.0b-CA$3,986,623,848.0026.1x-30.1x6x
Sat, 16 Dec 2023CA$116.3bCA$19.9b-CA$4,048,610,716.0026.5x-28.7x5.8x
Mon, 13 Nov 2023CA$106.5bCA$20.4b-CA$4,250,239,406.0046.2x-25x5.2x
Wed, 11 Oct 2023CA$100.9bCA$19.3b-CA$4,176,338,147.0055.3x-24.2x5.2x
Fri, 08 Sep 2023CA$103.3bCA$19.5b-CA$4,115,828,254.0055.8x-25.1x5.3x
Sun, 06 Aug 2023CA$101.5bCA$18.6b-CA$3,768,399,072.0058.5x-26.9x5.5x
Tue, 04 Jul 2023CA$104.1bCA$18.2b-CA$3,683,149,792.0074.3x-28.3x5.7x
Price to Earnings Ratio

-28.3x


Total Market Cap: CA$104.1bTotal Earnings: -CA$3,683,149,792.00Total Revenue: CA$18.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Software Industry Price to Earnings3Y Average 153.9x202420252026
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 120x which is lower than its 3-year average PE of 154x.
  • The 3-year average PS ratio of 5.7x is higher than the industry's current PS ratio of 3.9x.
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 Market-0.37%
Tech-2.31%
Software1.19%
Systems Software26.22%
Application Software-0.87%
Industry PE
  • Investors are most optimistic about the Systems Software industry which is trading above its 3-year average PE ratio of 108x.
    • Analysts are expecting annual earnings growth of 22.4%, which is lower than the prior year's growth of 301.3% per year.
  • Investors are most pessimistic about the Application Software industry, which is trading below its 3-year average of 152x.
Forecasted Growth
  • Analysts are most optimistic on the Systems Software industry, expecting annual earnings growth of 22% over the next 5 years.
  • In contrast, the Application 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
BB BlackBerryCA$16.1333.9%
+CA$2.4b		159.7%PE111.5x
CSU Constellation SoftwareCA$2.82k1.6%
+CA$962.3m		-43.5%PE56.7x
KXS KinaxisCA$154.745.7%
+CA$225.6m		-22.9%PE35.3x
LSPD Lightspeed CommerceCA$14.438.6%
+CA$157.1m		-8.4%PS1.1x
DSG Descartes Systems GroupCA$99.831.1%
+CA$95.3m		-28.2%PE34.4x

Latest News

ACT
CA$21.78
Aduro Clean Technologies
7D
2.4%
1Y
65.1%
DSG
CA$99.83
Descartes Systems Group
7D
1.1%
1Y
-28.2%
NDA
CA$0.63
Neptune Digital Assets
7D
-20.3%
1Y
-54.7%
DND
CA$1.40
Dye & Durham
7D
-23.1%
1Y
-85.3%
BB
CA$16.13
BlackBerry
7D
33.9%
1Y
159.7%
New Narrative • Jun 25

Rising Operating Costs And Slower Design Wins Will Pressure Long Term Prospects

Catalysts About BlackBerry BlackBerry provides software for safety critical operating systems, secure communications and licensing, with a focus on QNX and mission critical government and industrial customers. What are the underlying business or industry changes driving this perspective?
KXS
CA$154.74
Kinaxis
7D
5.7%
1Y
-22.9%
Narrative Update • Jun 22

KXS: AI Supply Chain Partnerships And Orchestration Will Support Future Upside

Analysts have nudged their fair value estimate for Kinaxis to roughly CA$207 per share, reflecting a modest increase in Street price targets, including CIBC's move to CA$205, as well as updated assumptions for revenue growth, profit margins and future P/E levels. Analyst Commentary Recent Street research on Kinaxis shows a mix of optimism and caution, with several price target revisions in both directions as analysts reassess growth assumptions, execution risks and appropriate P/E levels.
HIVE
CA$5.69
HIVE Digital Technologies
7D
-14.0%
1Y
130.4%
BTQ
CA$7.80
BTQ Technologies
7D
4.6%
1Y
1.3%
ENGH
CA$15.94
Enghouse Systems
7D
2.0%
1Y
-30.7%
Analysis Article • Jun 18

Enghouse Systems (TSX:ENGH) Stock Could Be 6.8% Undervalued After Earnings And Dividend Decision

Enghouse Systems earnings and dividend decision in focus Enghouse Systems (TSX:ENGH) has drawn fresh attention after reporting second quarter results and approving a quarterly dividend of $0.31 per share, combining an earnings update with a new income detail for investors. See our latest analysis for Enghouse Systems. At a share price of CA$15.61, Enghouse Systems has seen its 1 month share price return fall 7.96%, and its 1 year total shareholder return decline 27.41%, signalling fading...
CMG
CA$3.50
Computer Modelling Group
7D
-8.1%
1Y
-50.7%
ABXX
CA$29.15
Abaxx Technologies
7D
-11.1%
1Y
129.9%
XNDU
CA$15.84
Xanadu Quantum Technologies
7D
-14.8%
1Y
n/a
LSPD
CA$14.43
Lightspeed Commerce
7D
8.6%
1Y
-8.4%
Narrative Update • Jun 12

LSPD: Share Repurchases And AI Rollout Will Support Medium Term Repricing

Narrative Update: Lightspeed Commerce Price Target Reset Analysts have lowered the central price target for Lightspeed Commerce to CA$25.00 from CA$29.25, reflecting updated models that factor in softer medium term growth assumptions, lower projected profit margins, a higher discount rate, and a much higher assumed future P/E multiple, alongside mixed views on the impact of recent divestitures and guidance. Analyst Commentary Recent research on Lightspeed Commerce shows a cluster of reduced price targets, but the tone is not uniformly negative.
CSU
CA$2,818.02
Constellation Software
7D
1.6%
1Y
-43.5%
LMN
CA$21.50
Lumine Group
7D
-4.7%
1Y
-54.5%
TOI
CA$91.10
Topicus.com
7D
-7.5%
1Y
-46.1%