Atlassian Corp
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Atlassian Corp AI Insights
Informational only. Not investment advice.Snapshot
- FCF of 1.5B TTM vs net loss of -185M - massive gap signals non-cash charges masking cash generation power[Free Cash Flow TTM]
- R&D spend of 2.8B TTM is 52% of revenue - 4x industry median ratio, betting heavily on product moat[Research and Development TTM]
- Tangible book value is -175M while goodwill is 1.3B (96% of equity) - acquisition-heavy balance sheet[Tangible Book Value]
Watch Triggers
- Free Cash Flow TTM: Falls below 1.2B or FCF margin below 22% — FCF is the bull case - deterioration invalidates cash machine thesis
- Research and Development TTM: R&D/Revenue exceeds 55% for 2+ quarters — Signals competitive pressure requiring unsustainable investment
- Total Revenue 3Y Growth: Decelerates below 15% — Premium valuation requires sustained growth; decel triggers multiple compression
Bull Case
FCF conversion is exceptional: 1.5B FCF TTM on -185M net income means 27% FCF margin despite GAAP losses. Cash machine hidden by stock comp and amortization.
21% 3Y revenue CAGR at 5.5B scale with 83% gross margins - rare combination of growth and unit economics in enterprise software.
Bear Case
P/S of 7.7x vs industry median 3.9x while operating margin is -3.6% - paying premium for unprofitable operations on GAAP basis.
Goodwill of 1.3B is 96% of equity with negative tangible book - material impairment risk if acquisitions underperform.
Bull vs Bear Balance
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Forward Thesis
FCF margin expansion to 30%+ as R&D intensity normalizes post-AI investment cycle
- R&D at 52% of revenue vs 20% typical SaaS
- 27% FCF margin TTM already achieved
- Operating leverage inherent in software model
Valuation Context
Caveats
Public Strategies Rankings
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TEAM Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$18.3B | — | ||
$18.36B | — | ||
0.00 | — | ||
$5.76B | +20.1% | — | |
$-0.72 | — | ||
-3.21% | -0.3% | — | |
-3.29% | +3.9% | — | |
$1.28B | -7.4% | — | |
-13.5% | +19.1% | — | |
Beta 5Y (Monthly) | unknown | — |
TEAM Dividend History
TEAM Stock Splits
TEAM SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
02/06/26 | 12/31/25 | 10-Q | |
10/31/25 | 09/30/25 | 10-Q | |
08/15/25 | 06/30/25 | 10-K | |
05/02/25 | 03/31/25 | 10-Q | |
01/31/25 | 12/31/24 | 10-Q | |
11/01/24 | 09/30/24 | 10-Q | |
08/16/24 | 06/30/24 | 10-K | |
04/26/24 | 03/31/24 | 10-Q | |
02/02/24 | 12/31/23 | 10-Q | |
11/03/23 | 09/30/23 | 10-Q | |
08/18/23 | 06/30/23 | 10-K | |
05/05/23 | 03/31/23 | 10-Q | |
02/03/23 | 12/31/22 | 10-Q | |
11/04/22 | 09/30/22 | 10-Q | |
08/19/22 | 06/30/22 | 20-F | |
04/29/22 | 03/31/22 | 6-K | |
01/28/22 | 12/31/21 | 6-K | |
10/29/21 | 09/30/21 | 6-K | |
08/13/21 | 06/30/21 | 20-F | |
04/30/21 | 03/31/21 | 6-K | |
01/29/21 | 12/31/20 | 6-K | |
11/03/20 | 09/30/20 | 6-K | |
08/14/20 | 06/30/20 | 20-F | |
05/01/20 | 03/31/20 | 6-K | |
01/28/20 | 12/31/19 | 6-K | |
10/25/19 | 09/30/19 | 6-K | |
08/23/19 | 06/30/19 | 20-F | |
04/26/19 | 03/31/19 | 6-K | |
02/01/19 | 12/31/18 | 6-K | |
11/02/18 | 09/30/18 | 6-K | |
08/30/18 | 06/30/18 | 20-F | |
05/08/18 | 03/31/18 | 6-K | |
01/30/18 | 12/31/17 | 6-K | |
11/02/17 | 09/30/17 | 6-K | |
09/01/17 | 06/30/17 | 20-F | |
05/03/17 | 03/31/17 | 6-K | |
02/02/17 | 12/31/16 | 6-K | |
11/03/16 | 09/30/16 | 6-K | |
08/18/16 | 06/30/16 | 20-F | |
05/12/16 | 03/31/16 | 6-K | |
02/10/16 | 12/31/15 | 6-K | |
12/10/15 | 09/30/15 | 424B4 | |
12/10/15 | 06/30/15 | 424B4 | |
05/12/16 | 03/31/15 | 6-K | |
02/10/16 | 12/31/14 | 6-K | |
12/10/15 | 09/30/14 | 424B4 |