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U.S. Systems Software Industry Analysis

UpdatedAug 19, 2025
DataAggregated Company Financials
Companies68
  • 7D-0.4%
  • 3M13.7%
  • 1Y26.7%
  • YTDn/a

Over the last 7 days, the Systems Software industry has remained flat, although notably ServiceNow gained 4.2%. The past year has been better, since the industry has gained 27% in that time. As for the next few years, earnings are expected to grow by 15% per annum.

Industry Valuation and Performance

Has the U.S. Systems Software Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 19 Aug 2025US$5.2tUS$397.2bUS$120.1b37.7x43.5x13.2x
Thu, 17 Jul 2025US$5.1tUS$383.0bUS$114.3b38.9x45.1x13.4x
Sat, 14 Jun 2025US$4.9tUS$383.0bUS$114.3b41.1x42.6x12.7x
Mon, 12 May 2025US$4.4tUS$380.4bUS$114.3b34.2x38.3x11.5x
Wed, 09 Apr 2025US$3.6tUS$372.1bUS$110.4b28.4x32.3x9.6x
Fri, 07 Mar 2025US$4.1tUS$371.2bUS$109.9b33.5x37.4x11.1x
Sun, 02 Feb 2025US$4.3tUS$379.4bUS$111.5b38x38.3x11.3x
Tue, 31 Dec 2024US$4.4tUS$362.5bUS$108.9b37x40x12x
Thu, 28 Nov 2024US$4.4tUS$361.1bUS$107.9b39.2x41x12.2x
Sat, 26 Oct 2024US$4.3tUS$351.0bUS$105.3b40x40.6x12.2x
Mon, 23 Sep 2024US$4.3tUS$350.5bUS$105.0b40.2x41.1x12.3x
Wed, 21 Aug 2024US$4.1tUS$349.1bUS$104.4b37.1x39.2x11.7x
Fri, 19 Jul 2024US$4.2tUS$333.6bUS$101.7b40.7x41.2x12.5x
Sun, 16 Jun 2024US$4.2tUS$333.7bUS$101.6b38.8x41x12.5x
Tue, 14 May 2024US$3.6tUS$280.1bUS$90.5b38.5x39.3x12.7x
Thu, 11 Apr 2024US$3.7tUS$271.0bUS$87.1b39.8x42x13.5x
Sat, 09 Mar 2024US$3.5tUS$270.9bUS$87.1b39.7x40.3x13x
Mon, 05 Feb 2024US$3.7tUS$286.6bUS$85.8b41.5x42.7x12.8x
Wed, 03 Jan 2024US$3.3tUS$276.8bUS$80.3b41.4x41.1x11.9x
Fri, 01 Dec 2023US$3.3tUS$276.4bUS$79.9b42.3x41.8x12.1x
Sun, 29 Oct 2023US$2.9tUS$280.2bUS$79.7b41.7x36.8x10.5x
Tue, 26 Sep 2023US$2.9tUS$273.4bUS$74.8b42.3x38.2x10.5x
Thu, 24 Aug 2023US$2.9tUS$272.8bUS$74.5b42.3x39.3x10.8x
Sat, 22 Jul 2023US$3.0tUS$262.2bUS$68.2b48.3x44.2x11.5x
Mon, 19 Jun 2023US$3.0tUS$262.1bUS$68.3b45.1x43.9x11.4x
Wed, 17 May 2023US$2.7tUS$261.1bUS$68.0b41.2x39.7x10.3x
Fri, 14 Apr 2023US$2.5tUS$256.9bUS$65.0b44.8x39.2x9.9x
Sun, 12 Mar 2023US$2.2tUS$256.7bUS$65.2b41.9x33.9x8.6x
Tue, 07 Feb 2023US$2.2tUS$243.0bUS$63.4b44.6x35.2x9.2x
Thu, 05 Jan 2023US$2.0tUS$241.4bUS$65.6b42.1x30.4x8.3x
Sat, 03 Dec 2022US$2.2tUS$241.2bUS$66.4b43.9x33.3x9.2x
Mon, 31 Oct 2022US$2.0tUS$231.3bUS$67.7b49x29.9x8.7x
Wed, 28 Sep 2022US$2.0tUS$225.6bUS$70.8b53.6x28.5x8.9x
Fri, 26 Aug 2022US$2.3tUS$225.2bUS$70.9b59.7x33.1x10.4x
Price to Earnings Ratio

33.1x


Total Market Cap: US$2.3tTotal Earnings: US$70.9bTotal Revenue: US$225.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Systems Software Industry Price to Earnings3Y Average 38.7x202320242025
Current Industry PE
  • Investors are optimistic on the American Systems Software industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 43.5x which is higher than its 3-year average PE of 38.7x.
  • The 3-year average PS ratio of 11.3x is lower than the industry's current PS ratio of 13.2x.
Past Earnings Growth
  • The earnings for companies in the Systems Software industry have grown 19% per year over the last three years.
  • Revenues for these companies have grown 21% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does U.S. Systems Software compare with similar industries?

US Market1.26%
Tech0.33%
Software-0.083%
Systems Software-0.38%
Application Software0.60%
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
NOW ServiceNowUS$886.783.9%
+US$6.9b		5.8%PE110.8x
PANW Palo Alto NetworksUS$181.563.5%
+US$4.1b		-1.3%PE106.9x
GTLB GitLabUS$44.2712.8%
+US$829.3m		-4.8%PE561.2x
CHKP Check Point Software TechnologiesUS$187.993.7%
+US$728.9m		-0.3%PE23.5x
CYBR CyberArk SoftwareUS$431.503.1%
+US$661.3m		53.8%PS18.1x

Latest News

NOW
US$886.78
ServiceNow
7D
3.9%
1Y
5.8%
PANW
US$181.56
Palo Alto Networks
7D
3.5%
1Y
-1.3%
NBIS
US$67.19
Nebius Group
7D
-10.8%
1Y
n/a

Overvaluation Will Crumble Under Intensifying Regulatory And Cost Pressures

Nebius Group’s consensus price target was raised to $89.40 as analysts cited strong Q2 revenue outperformance, increased management guidance, and a leading position in AI neo-cloud, driving robust growth expectations and improved risk/reward. Analyst Commentary Strong Q2 results with an "apples to apples" revenue beat of approximately $15M (~17%) driven by robust core business performance, even after excluding Toloka.
CVLT
US$176.10
Commvault Systems
7D
-8.6%
1Y
17.3%
MSFT
US$509.77
Microsoft
7D
-3.7%
1Y
20.0%
CRWD
US$418.60
CrowdStrike Holdings
7D
-3.9%
1Y
57.1%
ORCL
US$234.62
Oracle
7D
-7.6%
1Y
68.6%
RBRK
US$83.97
Rubrik
7D
-5.0%
1Y
133.6%
GEN
US$31.50
Gen Digital
7D
-1.1%
1Y
24.5%
FROG
US$44.74
JFrog
7D
9.0%
1Y
63.6%

AI Adoption And Hybrid Cloud Will Unlock New Markets

The notable increase in JFrog’s future P/E multiple, despite stable revenue growth forecasts, suggests higher investor confidence in future profitability and has driven the consensus analyst price target up from $46.06 to $51.81. What's in the News JFrog provided Q3 2025 revenue guidance of $127–$129 million and full-year guidance of $507–$510 million.
S
US$16.95
SentinelOne
7D
4.0%
1Y
-29.4%
FTNT
US$78.09
Fortinet
7D
-0.5%
1Y
3.3%

Digital Transformation Will Expand Integrated Cybersecurity Solutions

Fortinet’s fair value estimate has been significantly lowered, primarily due to a notable contraction in its forward P/E multiple despite stable revenue growth forecasts, resulting in the consensus price target dropping from $109.88 to $93.46. What's in the News Fortinet announced a major expansion of its FortiCloud platform, introducing FortiIdentity (cloud-native identity management), FortiDrive (secure storage), and FortiConnect (protected communications), all natively integrated with its Security Fabric, furthering its unified platform strategy and supporting hybrid workforces with global infrastructure investments (Key Developments, 2025-08-06).
PATH
US$10.99
UiPath
7D
4.7%
1Y
-9.1%
CYBR
US$431.50
CyberArk Software
7D
3.1%
1Y
53.8%
CHKP
US$187.99
Check Point Software Technologies
7D
3.7%
1Y
-0.3%
GTLB
US$44.27
GitLab
7D
12.8%
1Y
-4.8%