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Australian-founded software company making Jira, Confluence and Trello collaboration and software-development tools.
Australian-founded software company making Jira, Confluence and Trello collaboration and software-development tools.
Sells subscriptions through low-cost online self-service rather than a large sales force, so teams start with a few users and spread. Customers are moving from software on their own servers to Atlassian's cloud, and it ended Server support in 2024. It moved its legal base from the UK to the US in 2022.
Moat: narrow (switching costs, network effects, installed base). Deeply embedded workflows and cross-team adoption make ripping out Jira/Confluence costly and disruptive.
Headquarters: Sydney, Australia / San Francisco, US · Founded: 2002 · Employees: 13,301
Size Atlassian (TEAM) is a United States Information Technology company (Packaged Software) with a market value of $38.7B, the 305th largest of 3,117 United States companies the cockpit tracks. Shares closed at $110.17 on 6 Nov 2026.
Performance Over six months the shares gained 4.9%, against +18.1% for the median peer and -1.1% for the United States market (cap-weighted) — 9th lowest of 20 in its peer set.
Growth Revenue grew 26.0% over the last twelve months (peer median +20.8%); the operating margin is 4.2% (peer median 7.6%).
Valuation It trades at 28.7× forward earnings against a peer median of 25.6× (9th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 45% a year for seven years (Req g). Recent delivered growth is +26%, so the hurdle is +19 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 10.3 points above its cost of capital (10.5% WACC).
Backlog Backlog (remaining performance obligations) was $4.70B at 30 Sep 2026, up 42% on a year earlier — 0.7 years of trailing revenue. Backlog detail →
Credit Atlassian has 2 bonds outstanding ($1.00B), rated BBB by the agencies and trading like BBB- at a weighted spread of 103 bp.
Short interest Short interest is 6.0% of the free float (15 Oct 2026).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | $6.57B | $6.57B | $5.22B | $4.36B | $3.53B |
| Revenue growth | — | +26% | +20% | +23% | — |
| Gross profit | $5.61B | $5.61B | $4.31B | $3.54B | $2.89B |
| EBITDA | $418M | $417M | -$26.5M | -$26.0M | -$259M |
| Net income | -$53.8M | -$53.8M | -$257M | -$301M | -$487M |
| Free cash flow | $1.32B | $1.32B | $1.42B | $1.42B | $842M |
| Capital expenditure | $34.1M | $34.1M | $44.9M | $33.1M | $25.8M |
| Total debt | $1.23B | $1.23B | $1.24B | $1.25B | $1.28B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Atlassian TEAM | $38.7B | +5% | +26% | 4% | 28.7× | 44.7% |
| Microsoft MSFT | $3.94T | +28% | +18% | 47% | 25.5× | 17.2% |
| monday.com MNDY | $3.72B | +22% | +24% | 3% | 14.2× | 23.6% |
| Asana ASAN | $2.43B | +60% | +9% | -15% | 27.4× | 10.7% |
| ServiceNow NOW | $106B | +12% | +22% | 13% | 22.4× | 29.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TEAM | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +28.9% | +0.1% | 2nd highest of 21 |
| 6-month return | +4.9% | +18.1% | 9th lowest of 20 |
| Distance from 52-week high | -41.9% | -24.9% | 4th lowest of 21 |
| Revenue growth (TTM) | +26.0% | +20.8% | 8th highest of 21 |
| Operating margin | 4.2% | 7.6% | 9th lowest of 21 |
| Forward P/E | 28.7× | 25.6× | 9th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 44.7% | 20.7% | 2nd most demanding of 16 |
| Growth delivered (Del g) | +25.8% | +23.5% | 6th highest of 16 |
| Hurdle (Req g minus delivered) | +18.9 pp | +1.3 pp | 2nd most demanding of 16 |
| ROIC minus cost of capital | +10.3 pp | -4.3 pp | 4th highest of 20 |
| EV / EBITDA | 92.6× | 18.1× | most expensive of 13 |
| Net debt / EBITDA | -0.0× | -0.4× | 8th most indebted of 19 |
| Bond spread | 103 bp | 90 bp | 4th widest of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Atlassian TEAM | United States | $38.7B | +5% | +26% | 4% | 28.7× | 44.7% | +25.8% |
| Dassault Systemes DSY.PA | France | $39.0B | +32% | 0% | 26% | 19.2× | 8.3% | +7.0% |
| NBIS NBIS | United States | $35.2B | -8% | +461% | -49% | n/a | n/a | n/a |
| Zscaler ZS | United States | $32.2B | +30% | +25% | -4% | 40.5× | 20.7% | +37.9% |
| Roper Technologies ROP | United States | $47.2B | +39% | +9% | 28% | 19.7× | 12.7% | +10.2% |
| Twilio TWLO | United States | $31.3B | 0% | +19% | 8% | 30.7× | 38.2% | +23.5% |
| Okta OKTA | United States | $29.5B | +101% | +11% | 8% | 41.3× | 39.2% | +28.4% |
| Constellation Software CSU.TO | Canada | $53.3B | +37% | +17% | 16% | 19.7× | 11.2% | +25.0% |
| Bending Spoons BSP | United States | $27.9B | n/a | +95% | 21% | 25.6× | 45.5% | +94.7% |
| Autodesk ADSK | United States | $54.7B | +7% | +19% | 23% | 20.1× | 18.1% | +13.7% |
| Amadeus IT AMS.MC | Spain | $27.4B | +18% | +4% | 27% | 17.8× | 4.3% | +24.6% |
| Z.AI Co., Ltd. -H- Reg S 2513.HK | Hong Kong | $26.5B | -56% | +132% | -272% | n/a | n/a | n/a |
| Zoom Communications ZM | United States | $26.2B | -18% | +5% | 24% | 14.7× | 5.8% | +12.9% |
| CoreWeave CRWV | United States | $25.6B | -59% | +115% | -3% | n/a | n/a | n/a |
| MongoDB MDB | United States | $25.2B | +4% | +25% | -1% | 44.7× | 27.9% | +33.1% |
| Samsara IOT | United States | $24.0B | +38% | +30% | 1% | 48.5× | n/a | n/a |
| Datadog DDOG | United States | $64.3B | -11% | +33% | 2% | 61.0× | n/a | n/a |
| Hithink RoyalFlush Information Network 300033.SZ | China | $22.9B | -14% | +48% | 56% | 32.7× | 37.1% | +16.3% |
| Unity Software U | United States | $22.7B | +83% | +14% | -14% | 49.4× | 33.5% | +19.1% |
| PTC PTC | United States | $21.2B | +33% | +20% | 40% | 21.8× | 10.3% | +8.6% |
| Toast TOST | United States | $20.1B | +38% | +22% | 7% | 20.9× | 28.6% | +49.5% |
Atlassian has 2 bonds outstanding with $1.00B face value. The agencies rate it BBB; its bonds trade like BBB-. Weighted yield 5.68%, a spread of 103 bp over government bonds.
Atlassian reported $4.70B of remaining performance obligations at 30 Sep 2026, up 42% from a year earlier and down 2% from the previous quarter. That is 0.7 years of trailing revenue already under contract. Book-to-bill last quarter: 0.94.