U.S. Software Industry Analysis

Industry Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Wed, 10 Jun 2026	US$6.2t	US$692.8b	US$155.5b	27.3x	40.2x	9x
Fri, 08 May 2026	US$6.0t	US$682.4b	US$155.0b	29.3x	38.5x	8.8x
Sun, 05 Apr 2026	US$5.4t	US$668.3b	US$161.4b	30x	33.5x	8.1x
Tue, 03 Mar 2026	US$5.6t	US$664.9b	US$163.7b	26.4x	34.1x	8.4x
Thu, 29 Jan 2026	US$6.8t	US$649.2b	US$159.8b	30.1x	42.4x	10.4x
Sat, 27 Dec 2025	US$7.2t	US$645.4b	US$164.7b	31.7x	43.8x	11.2x
Mon, 24 Nov 2025	US$6.8t	US$640.4b	US$160.5b	28.8x	42.5x	10.7x
Wed, 22 Oct 2025	US$7.7t	US$621.7b	US$151.8b	35.2x	51x	12.5x
Fri, 19 Sep 2025	US$7.7t	US$620.8b	US$151.7b	35.4x	50.7x	12.4x
Sun, 17 Aug 2025	US$7.5t	US$614.4b	US$150.3b	35.7x	50.2x	12.3x
Tue, 15 Jul 2025	US$7.3t	US$598.9b	US$131.4b	42.9x	55.7x	12.2x
Thu, 12 Jun 2025	US$6.9t	US$593.9b	US$131.6b	40.9x	52.6x	11.7x
Sat, 10 May 2025	US$6.5t	US$590.8b	US$130.8b	33.7x	49.3x	10.9x
Mon, 07 Apr 2025	US$5.3t	US$581.3b	US$131.8b	28.8x	39.9x	9.1x
Wed, 05 Mar 2025	US$6.0t	US$580.7b	US$129.4b	34.5x	46.6x	10.4x
Fri, 31 Jan 2025	US$6.7t	US$585.4b	US$132.1b	41.2x	50.4x	11.4x
Sun, 29 Dec 2024	US$6.5t	US$569.1b	US$128.8b	40.7x	50.5x	11.4x
Tue, 26 Nov 2024	US$6.5t	US$566.0b	US$127.5b	42.2x	51.1x	11.5x
Thu, 24 Oct 2024	US$6.1t	US$552.0b	US$124.1b	37.2x	49.3x	11.1x
Sat, 21 Sep 2024	US$6.1t	US$552.4b	US$124.0b	38.4x	49.2x	11x
Mon, 19 Aug 2024	US$5.8t	US$548.8b	US$121.5b	36x	47.7x	10.6x
Wed, 17 Jul 2024	US$6.1t	US$530.6b	US$118.4b	41.7x	51.1x	11.4x
Fri, 14 Jun 2024	US$5.8t	US$530.8b	US$117.8b	39.9x	48.9x	10.9x
Sun, 12 May 2024	US$5.2t	US$474.3b	US$104.2b	43.4x	50.2x	11x
Tue, 09 Apr 2024	US$5.4t	US$466.0b	US$98.3b	43.3x	54.8x	11.6x
Thu, 07 Mar 2024	US$5.2t	US$470.0b	US$98.4b	45x	53.3x	11.2x
Sat, 03 Feb 2024	US$5.5t	US$497.2b	US$87.9b	46x	63x	11.1x
Mon, 01 Jan 2024	US$5.2t	US$486.1b	US$82.9b	47.3x	62.3x	10.6x
Wed, 29 Nov 2023	US$5.0t	US$482.7b	US$80.2b	46.5x	62.3x	10.4x
Fri, 27 Oct 2023	US$4.4t	US$484.6b	US$78.9b	41.4x	55.8x	9.1x
Sun, 24 Sep 2023	US$4.4t	US$477.4b	US$73.2b	45.4x	60x	9.2x
Tue, 22 Aug 2023	US$4.3t	US$473.7b	US$70.6b	43.7x	61.5x	9.2x
Thu, 20 Jul 2023	US$4.8t	US$460.7b	US$60.1b	49.5x	79.2x	10.3x
Sat, 17 Jun 2023	US$4.5t	US$460.5b	US$62.3b	46.8x	72.7x	9.8x

Current Industry PE

Investors are pessimistic on the American 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 40.2x which is lower than its 3-year average PE of 51.3x.

The 3-year average PS ratio of 10.7x is higher than the industry's current PS ratio of 9.0x.

Past Earnings Growth

The earnings for companies in the Software industry have grown 36% per year over the last three years.
Revenues for these companies have grown 15% per year.
This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.S. Tech industry?


US Market	-3.33%
Tech	-9.37%
Software	-10.72%
Systems Software	-10.45%
Application Software	-11.37%

Industry PE

Investors are most optimistic about the Application Software industry which is trading above its 3-year average PE ratio of 48.1x.

Analysts are expecting annual earnings growth of 27.2%, which is higher than its past year's earnings growth of 10.8% per year.

Investors are most pessimistic about the Systems Software industry, which is trading below its 3-year average of 39.1x.

Forecasted Growth

Analysts are most optimistic on the Application Software industry, expecting annual earnings growth of 27% over the next 5 years.
This is better than its past earnings growth rate of 11% per year.

In contrast, the Systems Software industry is expected to see its earnings grow by 17% per year over the next few years.

Top Stock Gainers and Losers

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

Company	Last Price	7D	1Y	Valuation
APPS Digital Turbine	US$9.85	15.2% +US$156.9m	87.6%	PS2.1x
NN NextNav	US$20.87	4.1% +US$111.8m	70.6%	PS706.1x
ALOY REalloys	US$12.53	7.6% +US$53.2m	163.7%	PS937.1x
AGYS Agilysys	US$90.14	0.4% +US$11.2m	-19.0%	PE65.3x
BLND Blend Labs	US$1.69	1.8% +US$7.3m	-52.8%	PS3.2x

Argo Blockchain Announces Intention to Delist Ordinary Shares from London Stock Exchange Following Court Sanction of Restructuring Plan

As previously announced by Argo Blockchain plc (LSE: ARB), the Company is undertaking a recapitalisation by way of a restructuring plan under Part 26A of the Companies Act 2006 (the "Restructuring Plan"). Today, Argo has published a practice statement letter which is the first document in the Restructuring Plan process. Subject to the Court sanctioning the Restructuring Plan, it is the Company's intention to cancel the listing of the Company's ordinary shares ("Ordinary Shares") on the Equity Shares (Transition) category of the Official List of the Financial Conduct Authority ("FCA") and to cancel the trading of its Ordinary Shares on the Main Market of the London Stock Exchange (the "Delisting"). It is the Company's intention to maintain its listing on Nasdaq. As a company listed on the Equity Shares (Transition) category, the Company is not required to obtain the approval of its shareholders for the Delisting but is required under UK Listing Rule 21.2.17 to give at least 20 business days' notice of the intended cancellation. Accordingly, the Company has requested that: (i) the FCA cancel the listing of the Ordinary Shares on the Official List of the FCA; and (ii) the London Stock Exchange cancels the admission to trading of the Ordinary Shares on the Main Market for listed securities of the London Stock Exchange. Conditional upon the Restructuring Plan being sanctioned by the Court, it is anticipated that the Delisting will become effective from 8:00 a.m. (London time) on December 9, 2025. Therefore, the last day of dealings in the Ordinary Shares on the Main Market is expected to be December 8, 2025. Investors holding Shares following the Delisting will continue to be entitled to exercise all the rights attaching to the Shares. The principal effects of the Delisting will be that the Ordinary Shares will no longer be tradeable on the London Stock Exchange. It is, however, the Company's intention to maintain its Nasdaq listing; the regulatory and financial reporting regime applicable to companies whose shares are admitted to trading on the London Stock Exchange will no longer apply; shareholders will no longer be afforded the protections given by the Listing Rules; shareholders will no longer be required to publicly disclose any change in major shareholdings in the Company under the Disclosure Guidance and Transparency Rules; the Company will no longer be subject to the provisions of the Market Abuse Regulation (as in force in the United Kingdom) regulating inside information and other matters; with effect from the second anniversary of Delisting, the Takeover Code will cease to apply to the Company and at that point shareholders will not benefit from the protections afforded to them by the Takeover Code; and the Delisting may have personal taxation consequences for shareholders. The Takeover Code ("Code") applies to any company which has its registered office in the U.K., the Channel Islands or the Isle of Man if any of its equity share capital (whether voting or non-voting) or other transferable securities carrying voting rights are admitted to trading on a UK regulated market, a UK Multilateral Trading Facility ("MTF"), or a stock exchange in the Channel Islands or the Isle of Man. The Code therefore currently applies to the Company as its Ordinary Shares are admitted to trading on the London Stock Exchange, which is a UK regulated market. The Code also applies to any company which has its registered office in the U.K., the Channel Islands or the Isle of Man if any of its securities were admitted to trading on a UK regulated market, a UK MTF, or a stock exchange in the Channel Islands or the Isle of Man at any time during the preceding two years. Accordingly, if the Delisting becomes effective, the Code will continue to apply to the Company for a period of two years after the Delisting, following which the Code will cease to apply to the Company. While the Code continues to apply to the Company, a mandatory offer in cash, or accompanied by a cash alternative, will be required to be made if either: (a) any person acquires an interest in Ordinary Shares which (taken together with the Ordinary Shares in which the person or any person acting in concert with that person is interested) carry 30% or more of the voting rights of the Company; or (b) any person, together with persons acting in concert with that person, is interested in Ordinary Shares which in the aggregate carry not less than 30% of the voting rights of a Company but does not hold Ordinary Shares carrying more than 50% of such voting rights and such person, or any person acting in concert with that person, acquires an interest in any other Ordinary Shares which increases the percentage of Ordinary Shares carrying voting rights in which that person is interested.

U.S. Software Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

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Next Technology Holding Inc. has completed a Follow-on Equity Offering in the amount of $156.968618 million.

Argo Blockchain Announces Intention to Delist Ordinary Shares from London Stock Exchange Following Court Sanction of Restructuring Plan