Atlassian Corporation

DB:48D Stock Report

Market Cap: €32.7b

Atlassian Valuation

Is 48D undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 48D when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

€264.52
Fair Value
51.2% undervalued intrinsic discount
29
Number of Analysts

Below Fair Value: 48D (€127) is trading below our estimate of fair value (€269.76)

Significantly Below Fair Value: 48D is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for 48D?

Key metric: As 48D is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 48D. This is calculated by dividing 48D's market cap by their current revenue.
What is 48D's PS Ratio?
PS Ratio7.3x
SalesUS$5.22b
Market CapUS$37.92b

Price to Sales Ratio vs Peers

How does 48D's PS Ratio compare to its peers?

The above table shows the PS ratio for 48D vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average7.5x
NEM Nemetschek
11.1x12.85%€12.4b
SAP SAP
7.5x10.79%€268.5b
AOF ATOSS Software
9.7x12.11%€1.7b
TMV TeamViewer
1.9x8.41%€1.3b
48D Atlassian
7.3x14.60%€37.9b

Price-To-Sales vs Peers: 48D is good value based on its Price-To-Sales Ratio (7.3x) compared to the peer average (7.5x).


Price to Sales Ratio vs Industry

How does 48D's PS Ratio compare vs other companies in the DE Software Industry?

7 CompaniesPrice / SalesEstimated GrowthMarket Cap
CSH CENIT
0.3x3.18%US$69.78m
LSX LS telcom
0.6x2.10%US$26.91m
ISHA INTERSHOP Communications
0.5x3.04%US$21.34m
CLIQ Cliq Digital
0.07x-30.00%US$16.91m
48D 7.3xIndustry Avg. 2.2xNo. of Companies7PS02.44.87.29.612+
7 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 48D is expensive based on its Price-To-Sales Ratio (7.3x) compared to the German Software industry average (2.2x).


Price to Sales Ratio vs Fair Ratio

What is 48D's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

48D PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio7.3x
Fair PS Ratio14.2x

Price-To-Sales vs Fair Ratio: 48D is good value based on its Price-To-Sales Ratio (7.3x) compared to the estimated Fair Price-To-Sales Ratio (14.2x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 48D forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€127.00
€214.83
+69.16%
21.49%€413.28€150.68n/a29
Oct ’26€131.44
€213.25
+62.24%
21.08%€409.06€167.03n/a29
Sep ’26€151.82
€221.81
+46.10%
21.43%€409.78€167.33n/a28
Aug ’26€162.44
€236.80
+45.78%
18.84%€414.10€182.03n/a28
Jul ’26€170.00
€235.97
+38.81%
15.02%€356.24€182.36n/a29
Jun ’26€177.94
€246.13
+38.32%
15.58%€369.94€189.37n/a30
May ’26€193.34
€263.90
+36.49%
14.94%€371.99€199.28n/a30
Apr ’26€193.26
€308.03
+59.38%
12.62%€389.30€213.19n/a30
Mar ’26€268.60
€333.40
+24.13%
10.23%€403.75€259.55n/a28
Feb ’26€303.10
€333.11
+9.90%
10.96%€405.17€247.07n/a28
Jan ’26€236.10
€265.46
+12.44%
16.71%€404.00€192.38n/a27
Dec ’25€246.80
€243.06
-1.52%
16.57%€397.74€170.46n/a26
Nov ’25€199.28
€234.01
+17.43%
17.14%€387.58€166.10n/a26
Oct ’25€146.32
€194.24
+32.75%
22.62%€379.43€144.54€131.4425
Sep ’25€151.74
€199.00
+31.15%
22.79%€384.85€146.61€151.8224
Aug ’25€162.56
€218.60
+34.47%
19.47%€385.27€165.11€162.4424
Jul ’25€162.88
€222.59
+36.66%
19.80%€391.90€167.96€170.0024
Jun ’25€145.52
€224.30
+54.14%
19.13%€391.52€186.44€177.9425
May ’25€162.60
€226.54
+39.32%
18.64%€392.83€187.06€193.3425
Apr ’25€180.00
€240.73
+33.74%
15.26%€389.80€199.54€193.2626
Mar ’25€190.50
€240.73
+26.37%
15.26%€389.80€199.54€268.6026
Feb ’25€231.00
€229.12
-0.81%
18.38%€387.37€173.39€303.1026
Jan ’25€222.00
€204.13
-8.05%
21.57%€381.36€149.82€236.1026
Dec ’24€173.00
€194.47
+12.41%
22.63%€385.90€151.60€246.8026
Nov ’24€164.00
€214.50
+30.79%
20.01%€400.47€162.10€199.2825
Oct ’24€191.50
€205.99
+7.57%
20.42%€384.59€155.67€146.3224
€215.54
Fair Value
40.1% undervalued intrinsic discount
29
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


Discover undervalued companies

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/12 09:29
End of Day Share Price 2025/10/10 00:00
Earnings2025/06/30
Annual Earnings2025/06/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Atlassian Corporation is covered by 52 analysts. 31 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jamie SheltonArete Research Services LLP
Richard KramerArete Research Services LLP
Adam ShepherdArete Research Services LLP