Value Investor
Start free

Atlassian

TEAM on Nasdaq. Atlassian sells team collaboration software to organizations and teams worldwide. Market value $27.6bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to June 2026.

Should I look at this?

Good business, but not cheap right now

Why it could be worth it

What to watch out for

See cheaper Technology stocks on the list

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
2.6%low

For every $100 of what the whole company costs, it produced $2.61 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
4849.5×full

You pay 4849.5 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to June 2026
n/a

The filings do not give us enough to work this out.

Quality score: 70 of 100. Price score: 14 of 100. Our list needs 70 on quality and 60 on price.

$193.98 a share, 246% above its 1-year low

Over the past year the price has ranged from $56.01 to $200.00.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

0.8
0.8
1.4
1.4
1.3
20222023202420252026
Revenue
$2.8bn$3.5bn$4.4bn$5.2bn$6.6bn
Operating margin
2.5%-9.8%-2.7%-2.5%0.2%
Debt to equity
3.051.530.950.730.93
Shares outstanding
0.25bn0.26bn0.26bn0.26bn0.26bn

Health checks

  • Free cash flow positive5 of 5 years
  • Accounting looks honest (Beneish)Nothing unusual
  • Financial strength (Piotroski)4 of 8 checks we could run
  • Profit backed by cash (accruals)No
  • Debt0.93× equity
  • Revenue growth, five yearsStrong, 25.8% a year
  • Buying back its own sharesRoughly flat

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $1.8 billion last quarter, up 28% on a year ago.
  • Profit: $139 million, after a loss of $24 million a year ago.
  • It keeps 0 cents of each $1 of sales as operating profit, after losing 2 cents a year earlier.
  • Spare cash over the past 12 months: $1.3 billion, down from $1.4 billion.
  • It has $250 million more cash than debt, down from $1.5 billion a year ago.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$1.2bn
December 2024$1.3bn
March 2025$1.4bn
June 2025$1.4bn
September 2025$1.4bn
December 2025$1.6bn
March 2026$1.8bn
June 2026$1.8bn
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$124m
December 2024-$38m
March 2025-$71m
June 2025-$24m
September 2025-$52m
December 2025-$43m
March 2026-$98m
June 2026$139m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
14 August 2026
Next quarterly (estimated, 10-Q)
31 July 2026

Who owns it

2 long-term investors we follow own it, unchanged from 2 last quarter. 695 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

7 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 1 insider bought $498,411 of shares on the open market. 9 sold $207m, $196m of it under preset trading plans.

  • LIU GENE
    Chief Accounting Officer
    Sold
    under a preset trading plan
    Date
    28 August 2026
    Shares
    939
    Price
    $190.00
    Value
    $178,410
  • CHUONG JAMES
    Chief Financial Officer
    Sold
    Date
    19 August 2026
    Shares
    9,054
    Price
    $172.45
    Value
    $2m
  • DUFFY BRIAN
    Chief Revenue Officer
    Sold
    Date
    19 August 2026
    Shares
    1,851
    Price
    $172.45
    Value
    $319,204
  • LIU GENE
    Chief Accounting Officer
    Sold
    under a preset trading plan
    Date
    19 August 2026
    Shares
    1,125
    Price
    $175.00
    Value
    $196,875
  • DUFFY BRIAN
    Chief Revenue Officer
    Sold
    Date
    14 August 2026
    Shares
    7,617
    Price
    $163.00
    Value
    $1m
  • LIU GENE
    Chief Accounting Officer
    Sold
    under a preset trading plan
    Date
    14 August 2026
    Shares
    815
    Price
    $163.00
    Value
    $132,845
  • LIU GENE
    Chief Accounting Officer
    Sold
    under a preset trading plan
    Date
    13 August 2026
    Shares
    737
    Price
    $165.00
    Value
    $121,605
  • DUFFY BRIAN
    Chief Revenue Officer
    Sold
    under a preset trading plan
    Date
    12 June 2026
    Shares
    3,000
    Price
    $89.71
    Value
    $269,130
  • DUFFY BRIAN
    Chief Revenue Officer
    Sold
    under a preset trading plan
    Date
    11 June 2026
    Shares
    1,432
    Price
    $88.79
    Value
    $127,147
  • DUFFY BRIAN
    Chief Revenue Officer
    Sold
    under a preset trading plan
    Date
    10 June 2026
    Shares
    1,813
    Price
    $92.79
    Value
    $168,228

From Form 4 filings: insiders must report trades in their own company's shares within two days.

What could go wrong

  • It isn't cheap on profits: 4849.5× operating profit.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
Create a free account to run it

Your first deep dive is free.

What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.