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U.S. Systems Software Industry Analysis

UpdatedFeb 18, 2026
DataAggregated Company Financials
Companies71
  • 7D-3.6%
  • 3M-20.6%
  • 1Y-8.8%
  • YTDn/a

Over the last 7 days, the Systems Software industry has dropped 3.6%, driven by Microsoft declining 4.0%. Meanwhile, Nebius Group actually outperformed within the industry, gaining 10% in the last week. Overall the industry is down 8.8% in 12 months. Looking forward, earnings are forecast to grow by 16% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 18 Feb 2026US$4.0tUS$428.8bUS$140.4b27.9x28.5x9.3x
Fri, 16 Jan 2026US$4.6tUS$416.9bUS$125.7b34.9x36.7x11.1x
Sun, 14 Dec 2025US$4.8tUS$416.9bUS$125.7b37.5x38.3x11.5x
Tue, 11 Nov 2025US$5.2tUS$413.1bUS$123.2b37.5x42.1x12.6x
Thu, 09 Oct 2025US$5.4tUS$399.7bUS$120.0b40.6x45.4x13.6x
Sat, 06 Sep 2025US$5.1tUS$398.0bUS$120.0b36.1x42.3x12.8x
Mon, 04 Aug 2025US$5.3tUS$395.6bUS$119.5b38.3x44.1x13.3x
Wed, 02 Jul 2025US$5.0tUS$383.0bUS$114.3b43.1x44.1x13.2x
Fri, 30 May 2025US$4.6tUS$381.0bUS$114.1b36.4x40.2x12.1x
Sun, 27 Apr 2025US$4.0tUS$371.8bUS$110.4b31.7x36x10.7x
Tue, 25 Mar 2025US$4.0tUS$372.1bUS$110.4b31.5x36.1x10.7x
Thu, 20 Feb 2025US$4.3tUS$379.4bUS$110.3b36.6x38.7x11.2x
Sat, 18 Jan 2025US$4.3tUS$362.5bUS$108.9b37.2x39.6x11.9x
Mon, 16 Dec 2024US$4.5tUS$362.5bUS$108.9b37.9x41x12.3x
Wed, 13 Nov 2024US$4.3tUS$360.5bUS$107.8b38.7x40.1x12x
Fri, 11 Oct 2024US$4.2tUS$350.5bUS$105.1b42.3x40.2x12.1x
Sun, 08 Sep 2024US$3.9tUS$349.6bUS$104.5b36.1x37.7x11.3x
Tue, 06 Aug 2024US$3.9tUS$343.2bUS$102.9b35.4x37.7x11.3x
Thu, 04 Jul 2024US$4.4tUS$333.6bUS$101.7b40.3x42.8x13x
Sat, 01 Jun 2024US$3.5tUS$280.2bUS$91.0b39x38.9x12.6x
Mon, 29 Apr 2024US$3.5tUS$280.5bUS$90.9b40.8x38.4x12.5x
Wed, 27 Mar 2024US$3.6tUS$271.0bUS$87.0b40.2x41.8x13.4x
Fri, 23 Feb 2024US$3.5tUS$270.5bUS$86.6b37.5x40x12.8x
Sun, 21 Jan 2024US$3.5tUS$276.8bUS$80.3b41.1x43.8x12.7x
Tue, 19 Dec 2023US$3.3tUS$276.8bUS$80.3b42.3x41.3x12x
Thu, 16 Nov 2023US$3.2tUS$275.7bUS$79.6b41.1x40.8x11.8x
Sat, 14 Oct 2023US$3.0tUS$273.4bUS$74.8b42.3x39.5x10.8x
Mon, 11 Sep 2023US$3.0tUS$273.4bUS$74.8b42.3x40.2x11x
Wed, 09 Aug 2023US$2.9tUS$272.3bUS$74.3b43.8x39.1x10.7x
Fri, 07 Jul 2023US$3.0tUS$262.2bUS$68.2b44.7x43.7x11.4x
Sun, 04 Jun 2023US$2.9tUS$262.1bUS$68.3b44.3x42.8x11.2x
Tue, 02 May 2023US$2.6tUS$260.8bUS$66.9b42.9x39.4x10.1x
Thu, 30 Mar 2023US$2.5tUS$256.8bUS$65.2b43.4x37.8x9.6x
Sat, 25 Feb 2023US$2.2tUS$243.0bUS$63.9b42.5x34.1x9x
Price to Earnings Ratio

34.1x


Total Market Cap: US$2.2tTotal Earnings: US$63.9bTotal Revenue: US$243.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Systems Software Industry Price to Earnings3Y Average 40.1x202420252026
Current Industry PE
  • Investors are pessimistic on the American Systems 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 28.5x which is lower than its 3-year average PE of 40.1x.
  • The 3-year average PS ratio of 11.8x is higher than the industry's current PS ratio of 9.3x.
Past Earnings Growth
  • The earnings for companies in the Systems Software industry have grown 30% 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 Market-1.58%
Tech-2.59%
Software-4.40%
Systems Software-3.63%
Application Software-6.15%
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
NBIS Nebius GroupUS$97.5210.1%
+US$2.4b		117.5%PE850.8x
TDC TeradataUS$32.6011.5%
+US$314.1m		30.8%PE23.4x
ZS ZscalerUS$172.590.9%
+US$253.6m		-19.6%PS9.7x
CRWD CrowdStrike HoldingsUS$414.290.2%
+US$225.6m		-9.0%PS22.9x
CVLT Commvault SystemsUS$88.481.1%
+US$41.3m		-52.9%PE44.7x

Latest News

PANW
US$163.50
Palo Alto Networks
7D
-1.2%
1Y
-21.5%
CHKP
US$165.02
Check Point Software Technologies
7D
-8.6%
1Y
-25.1%
PATH
US$10.94
UiPath
7D
-15.5%
1Y
-26.6%
NBIS
US$97.52
Nebius Group
7D
10.1%
1Y
117.5%

NBIS: Microsoft Contract And 2.5GW Power Sourcing Will Support Future Capacity

Analysts have kept their Nebius Group price target steady at $211, but are now using slightly higher discount rates and a richer future P/E of about 34x. This reflects a mix of bullish views on the Microsoft contract, cautious revenue and margin assumptions, and a wide range of initial ratings from neutral to top pick calls.
TDC
US$32.60
Teradata
7D
11.5%
1Y
30.8%

Teradata (NYSE:TDC) Is Posting Promising Earnings But The Good News Doesn’t Stop There

Feb 17
Teradata (NYSE:TDC) Is Posting Promising Earnings But The Good News Doesn’t Stop There
FTNT
US$81.69
Fortinet
7D
-4.5%
1Y
-28.5%

FTNT: Earnings Execution And Buybacks Will Support Future Upside

Analysts have nudged their fair value estimate for Fortinet higher by about $1 to roughly $109, reflecting a mix of tempered revenue growth expectations, slightly higher assumed P/E multiples, and firmer profit margin assumptions that align with the wave of recent price target increases across the Street. Analyst Commentary Bullish analysts have been active on Fortinet, with a cluster of recent research updates pointing to higher price targets, rating upgrades, and a more constructive stance on the share setup into upcoming results.
FROG
US$47.57
JFrog
7D
-10.6%
1Y
13.2%
RDWR
US$26.89
Radware
7D
2.3%
1Y
12.9%
ORCL
US$153.97
Oracle
7D
-3.7%
1Y
-14.4%
MSFT
US$396.86
Microsoft
7D
-4.0%
1Y
-3.1%
ZS
US$172.59
Zscaler
7D
0.9%
1Y
-19.6%

AI Security And Zero Trust Execution Risks Will Challenge Progress Yet Still Support Long-Term Upside

Catalysts About Zscaler Zscaler provides cloud delivered security services that help enterprises protect users, data and applications. What are the underlying business or industry changes driving this perspective?
MNDY
US$74.34
monday.com
7D
0.3%
1Y
-76.9%
GEN
US$22.81
Gen Digital
7D
-9.4%
1Y
-17.4%

Gen Digital (NASDAQ:GEN) Is Paying Out A Dividend Of $0.125

Feb 09
Gen Digital (NASDAQ:GEN) Is Paying Out A Dividend Of $0.125
CVLT
US$88.48
Commvault Systems
7D
1.1%
1Y
-52.9%

CVLT: Reset Multiples And Higher Margins Will Create Future Upside Potential

Analysts have reset their price expectations for Commvault Systems, trimming the fair value estimate from about $175 to roughly $140 as they incorporate lower Street price targets, slightly higher discount rates, modestly softer revenue growth assumptions and a reduced future P/E, partly balanced by higher projected profit margins. Analyst Commentary Street research over the recent period has been dominated by a series of lower price targets for Commvault Systems, with multiple firms adjusting their views on valuation in light of changing sector multiples, security spending expectations and competitive considerations.
IVDA
US$0.34
Iveda Solutions
7D
37.4%
1Y
-88.8%
CRWD
US$414.29
CrowdStrike Holdings
7D
0.2%
1Y
-9.0%