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U.S. Systems Software Industry Analysis

UpdatedJul 25, 2026
DataAggregated Company Financials
Companies69
  • 7D-4.5%
  • 3M-5.1%
  • 1Y-24.0%
  • YTDn/a

Over the last 7 days, the Systems Software industry has dropped 5.2%, driven by Microsoft declining 3.1%. In contrast, Nebius Group has gained 5.7%. The industry has fallen 24% in the last year. Earnings are forecast to grow by 18% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 25 Jul 2026US$4.0tUS$451.6bUS$149.5b23x26.8x8.9x
Mon, 22 Jun 2026US$4.1tUS$450.8bUS$149.6b22.9x27.7x9.2x
Wed, 20 May 2026US$4.4tUS$446.0bUS$149.0b23.9x29.6x9.9x
Fri, 17 Apr 2026US$4.1tUS$432.3bUS$141.6b27x28.8x9.4x
Sun, 15 Mar 2026US$4.0tUS$432.9bUS$141.5b24.3x28x9.1x
Tue, 10 Feb 2026US$4.0tUS$429.9bUS$140.2b30.8x28.8x9.4x
Thu, 08 Jan 2026US$4.8tUS$416.9bUS$125.7b36.9x38x11.5x
Sat, 06 Dec 2025US$4.9tUS$414.2bUS$123.4b39.3x39.7x11.8x
Mon, 03 Nov 2025US$5.4tUS$412.5bUS$123.3b37.7x43.6x13x
Wed, 01 Oct 2025US$5.4tUS$399.7bUS$120.0b39x44.8x13.4x
Fri, 29 Aug 2025US$5.1tUS$397.7bUS$119.9b37.2x42.6x12.8x
Sun, 27 Jul 2025US$5.2tUS$383.6bUS$114.4b39.5x45.9x13.7x
Tue, 24 Jun 2025US$4.9tUS$383.0bUS$114.3b42x43.2x12.9x
Thu, 22 May 2025US$4.6tUS$380.9bUS$114.3b35.5x40.1x12x
Sat, 19 Apr 2025US$3.7tUS$371.3bUS$110.3b29.6x33.5x10x
Mon, 17 Mar 2025US$3.9tUS$372.1bUS$110.4b31.1x35.8x10.6x
Wed, 12 Feb 2025US$4.3tUS$379.5bUS$111.8b42.6x38.5x11.3x
Fri, 10 Jan 2025US$4.3tUS$362.5bUS$108.9b37.6x39.4x11.8x
Sun, 08 Dec 2024US$4.6tUS$361.3bUS$108.3b40.4x42.1x12.6x
Tue, 05 Nov 2024US$4.1tUS$360.2bUS$107.7b40.8x38.5x11.5x
Thu, 03 Oct 2024US$4.3tUS$350.5bUS$105.1b39.5x40.7x12.2x
Sat, 31 Aug 2024US$4.1tUS$349.4bUS$104.5b38.1x38.8x11.6x
Mon, 29 Jul 2024US$4.1tUS$334.6bUS$100.9b39.4x40.2x12.1x
Wed, 26 Jun 2024US$4.2tUS$333.7bUS$101.6b39.5x41.4x12.6x
Fri, 24 May 2024US$3.7tUS$280.2bUS$91.0b40.3x40.6x13.2x
Sun, 21 Apr 2024US$3.4tUS$271.0bUS$87.1b39.5x39.3x12.6x
Tue, 19 Mar 2024US$3.6tUS$271.0bUS$87.0b40.4x41.3x13.3x
Thu, 15 Feb 2024US$3.5tUS$270.1bUS$85.0b37.4x41.7x13.1x
Sat, 13 Jan 2024US$3.5tUS$276.8bUS$80.3b41.4x43.2x12.5x
Mon, 11 Dec 2023US$3.3tUS$276.8bUS$80.3b42.4x41.4x12x
Wed, 08 Nov 2023US$3.1tUS$275.3bUS$79.5b40.7x39.2x11.3x
Fri, 06 Oct 2023US$2.9tUS$273.4bUS$74.8b42.3x38.4x10.5x
Sun, 03 Sep 2023US$3.0tUS$273.1bUS$74.7b42.3x39.6x10.8x
Tue, 01 Aug 2023US$3.0tUS$267.0bUS$72.6b49.1x40.8x11.1x
Price to Earnings Ratio

40.8x


Total Market Cap: US$3.0tTotal Earnings: US$72.6bTotal Revenue: US$267.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Systems Software Industry Price to Earnings3Y Average 38.5x202420252026
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 27.5x which is lower than its 3-year average PE of 38.5x.
  • The 3-year average PS ratio of 11.6x is higher than the industry's current PS ratio of 9.1x.
Past Earnings Growth
  • The earnings for companies in the Systems Software industry have grown 27% per year over the last three years.
  • Revenues for these companies have grown 19% 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-1.06%
Tech0.11%
Software-4.42%
Systems Software-4.52%
Application Software-4.19%
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$187.775.7%
+US$2.6b		265.5%PE65.4x
DLB Dolby LaboratoriesUS$49.861.6%
+US$74.7m		-34.7%PE19.4x
ADEA AdeiaUS$25.952.2%
+US$62.9m		95.8%PE23.5x
XPER XperiUS$7.573.7%
+US$13.0m		0.4%PS0.8x
VIDA VIDA GlobalUS$2.8623.3%
+US$7.9m		n/aPS50.8x

Latest News

CRWD
US$183.28
CrowdStrike Holdings
7D
-9.7%
1Y
56.7%
Seeking Alpha • 20h

CrowdStrike: Firmly In Bubble Territory

Summary CrowdStrike's stock has surged on the expectation of an AI-driven surge in demand for cybersecurity solutions. Revenue growth remains in the mid-20% range, though, and while AI, cloud, and identity are growth areas, module adoption is maturing, and net new ARR growth is only modest. Despite this, CRWD's revenue multiple has returned to SaaS bubble highs, raising the risk of a significant correction if sentiment shifts. Read the full article on Seeking Alpha
ORCL
US$114.99
Oracle
7D
-9.0%
1Y
-53.1%
MSFT
US$381.70
Microsoft
7D
-3.1%
1Y
-25.7%
NOW
US$98.78
ServiceNow
7D
-4.3%
1Y
-49.0%
ZS
US$142.32
Zscaler
7D
-5.1%
1Y
-50.3%
PANW
US$323.79
Palo Alto Networks
7D
-9.7%
1Y
59.3%
NBIS
US$187.77
Nebius Group
7D
5.7%
1Y
265.5%
FTNT
US$152.37
Fortinet
7D
-5.7%
1Y
45.4%
RBRK
US$73.24
Rubrik
7D
-7.3%
1Y
-13.8%
Narrative Update • Jul 20

RBRK: Cyber Resilience Demand And Q1 Execution Will Drive Recurring Revenue Upside

Rubrik's updated fair value estimate has shifted from $130.00 to about $110.11 as analysts factor in higher targeted profit margins, slightly adjusted revenue growth expectations, and a lower future P/E multiple, despite broadly higher Street price targets supported by stronger Q1 execution and a healthier long-term outlook for recurring revenue and cyber resilience spend. Analyst Commentary Recent Street research on Rubrik points to largely constructive sentiment, with a series of higher price targets and one minor trim that still maintains a positive rating.
DLB
US$49.86
Dolby Laboratories
7D
1.6%
1Y
-34.7%
Seeking Alpha • Jul 20

Dolby Laboratories Valuation Is Compelling Ahead Of Earnings

Summary Dolby Laboratories is now undervalued after a 50%+ decline from its all-time high, trading at 18.7x FCF and 19.7x earnings. DLB's revenue growth remains choppy, but licensing—especially in Broadcast and Mobile—drives solid results and offers mid-single-digit growth potential. Expansion into automotive and increased adoption of Dolby Atmos/Vision by major platforms and automakers support future growth, with modest price increases feasible. I expect DLB to deliver a steady, 'boring' 10% annual return, making it a solid long-term investment at current valuations. Read the full article on Seeking Alpha
XPER
US$7.57
Xperi
7D
3.7%
1Y
0.4%
ADEA
US$25.95
Adeia
7D
2.2%
1Y
95.8%
AISP
US$2.01
Airship AI Holdings
7D
0.5%
1Y
-64.6%
DTSS
US$0.84
Datasea Intelligent Technology
7D
3.4%
1Y
-61.2%
VIDA
US$2.86
VIDA Global
7D
23.3%
1Y
n/a