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TEAM

Atlassian NasdaqGS:TEAM Stock Report

Last Price

US$214.59

Market Cap

US$54.7b

7D

-8.8%

1Y

-43.8%

Updated

27 Sep, 2022

Data

Company Financials +
TEAM fundamental analysis
Snowflake Score
Valuation2/6
Future Growth2/6
Past Performance0/6
Financial Health5/6
Dividends0/6

TEAM Stock Overview

Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide.

Atlassian Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Atlassian
Historical stock prices
Current Share PriceUS$214.59
52 Week HighUS$483.13
52 Week LowUS$159.54
Beta0.94
1 Month Change-16.52%
3 Month Change11.56%
1 Year Change-43.76%
3 Year Change72.68%
5 Year Change485.51%
Change since IPO672.46%

Recent News & Updates

Sep 13

Is Atlassian Stock Overvalued Or Undervalued?

Summary Maturing nicely, Atlassian continues to grow revenue very rapidly given its size; cashflow margins also remain impressive. The stock has been hammered along with most other growth names - more so in fact, putting in a huge drop from its 2021 highs. We believe the magnitude of the drop vs. other growth stocks was technical in nature; we believe the stock is now set up for a strong run upwards. In case we're wrong - the chart pattern means you can place stops close enough to be protective, not so far away that they will blow a large realized hole in your account if they trip. DISCLAIMER: This note is intended for US recipients only and, in particular, is not directed at, nor intended to be relied upon by any UK recipients. Any information or analysis in this note is not an offer to sell or the solicitation of an offer to buy any securities. Nothing in this note is intended to be investment advice and nor should it be relied upon to make investment decisions. Cestrian Capital Research, Inc., its employees, agents or affiliates, including the author of this note, or related persons, may have a position in any stocks, security, or financial instrument referenced in this note. Any opinions, analyses, or probabilities expressed in this note are those of the author as of the note's date of publication and are subject to change without notice. Companies referenced in this note or their employees or affiliates may be customers of Cestrian Capital Research, Inc. Cestrian Capital Research, Inc. values both its independence and transparency and does not believe that this presents a material potential conflict of interest or impacts the content of its research or publications. Swiss Toni Need Not Apply When Atlassian Corporation (TEAM) was young and at least some Cestrian staff were in short trousers, there were three defining characteristics of the company. One, it sold incredibly low-cost development tools at a time when tooling was still mainly the preserve of large old-line software brands - Rational/IBM, various Java toolsets, Visual Studio/Microsoft and so on. Two, it was Australian yet sold all over the world. Three, and not unconnected to two, it had no enterprise sales team, choosing instead to sell online via the developer community. (This sales model is commonplace today. It was a biiiiig deal in the early 2000s). Four, and very much connected to three, the company had raised no venture capital but had been able to become profitable as a result of founder thriftiness and, you guessed it, the lack of that enterprise sales function. No Presidents' Club jollies on Maui, no Bentley Convertibles to pay for, and none of the costly and time-consuming HR events that typically form a contrail in the wake of your regular swashbuckling enterprise software sales team. Fast forward twenty years and the fundamentals remain exceptionally strong. In addition, the beating handed to the stock by the market this year makes the name an attractive buying opportunity in our view. Let's take a look at the numbers. TEAM Stock Key Metrics TEAM Fundamentals (YCharts.com, Cestrian Analysis) This is a high growth, high margin, highly cash generative company. TTM revenue growth in the most recent quarter (ending June 30 - that's the company's year end, so, Q4 FY6/22) stood at +40%, now on a revenue base of $2.6bn. Not to be sneezed at. Gross margins are high at 82% on a TTM basis - that early no-commission-pay-away DNA remains intact - and the company has exceptionally strong cashflow characteristics. TTM unlevered pretax cashflow consistently exceeds TTM EBITDA - that's because (i) capex is very low and (ii) the working capital profile is superb - TEAM gets paid by its customers a long time before it starts paying money out to suppliers. You can see that in virtually every quarter of the last three years, change in net working capital was positive, i.e., a cash inflow from the summation of changes in operating assets and liabilities. That again is an echo of those early bootstrapped days. When companies don't raise big VC early, the careful-with-money characteristics tend to remain, and that's to the benefit of investors over the long run. You could think of TEAM as a kind of inverse UBER. Uber never saw a dollar in its wallet it didn't think it should have already spent yesterday; TEAM sees a dollar and thinks - hey that should be three dollars, I need to get Frank the payables clerk to stop giving out money so fast. What does he think - we're made of money? (And this is why the company has almost $1.5bn in gross cash and liquid securities). Is TEAM Stock Overvalued? Well, so far so good. But as everyone knows, high growth software companies with fat cashflow margins are all permanently overvalued. No sane person would pay these kinds of valuations, right? Because 2009 and because 2022 and because 2001 and blah. Here's TEAM's valuation as of the most recent close. TEAM Valuation (YCharts.com, Cestrian Analysis) Yikes! 26x TTM revenue after the stock was smacked in the teeth all year. This one won't be attracting tech bottom-feeders, that's for sure. It would be easy to walk away from the stock based on those multiples, if you restrict yourself purely to fundamental analysis. That would be a mistake, in our view. Because if we consider technicals for a moment, we think the stock has great potential; and we think that a protective stop can be placed at a level close enough to actually be protective i.e., hand you a manageable loss if its triggered, rather than just blowing a comedy-sized realized loss in your account when the price momentarily visits your stop order, only to - of course! - reverse back up hard and fast, having dealt you that mortal blow. Which is a common experience of stop-losses in high beta names unless you are buying them near the lows. Let's look at the chart to learn more. Atlassian Stock 2022 And Beyond Forecast Here's how we see the story of the stock in recent years. This is the zoomed-out version. We'll zoom in thereafter. (You can open a full-page version of this chart - here.) TEAM Larger Degree Chart (Trendspider, Cestrian Analysis) OK, so: Wave 1 up starts late in 2018 just as Mr. Powell is making an early attempt to normalize monetary policy. (Prior to being smacked upside the head by the then-Administration). It puts in around a +$93/share move, peaking in February 2020. Wave 2 starts there and completes mid-March 2020 in the midst of the Covid crisis, like most other names. Unusually however, TEAM stock puts in only a 50% retracement of that Wave 1 up. Almost every stock or ETF we cover - and there are a lot of them - put in a 78.6% drop of the same Wave 1 period, and those that didn't generally put in a 61.8% drop. Very very few such names dropped only a half of the value gained from the 2018 lows to the Q1 2020 highs. And that had consequences for what happened this year, as we shall see in a moment. Wave 3 comes ripping up and out of the Covid lows and it was a doozy. TEAM added +$370/share in just 18 months or so, peaking at between the 3.618 and the 4.236 extensions of Wave 1. (If that sounds fancy and complicated, it isn't. A 3.618 extension just means, take the share price movement in Wave 1, multiply it by 3.618, and add that to the stock price at the Wave 2 low. The fancy and complicated part is why these Fibonacci numbers work at all but that's for another day). Wave 4. Ah, wave 4. Now, in say SPY or QQQ or MSFT or AAPL or other grownup companies, the Wave 4 that has been rolling in all through 2022 has been relatively modest. It hasn't felt modest, but it has been modest. SPY so far bottomed at between the 38.2% and 50% retracement levels off of its post-Covid runup; QQQ a little tougher, bottoming so far between the 50% and the 61.8% retrace of the same runup. Now these aren't pretty pullbacks, but they are just pullbacks. What happened at TEAM was, the Rule of Alternation played out. Rule? Well, common pattern let's say. In Elliott Wave folklore/mythology it is common that if you get a deep Wave 2 correction, you get only a modest Wave 4 correction. Hence, SPY and QQQ hit the 78.6% Wave 2 retraces into the Covid crisis, but dropped a lot less (so far!) in the 2021-22 correction. But TEAM? Well, as we noted above the Wave 2 into the Covid crisis was shallow - only a 50% retrace of the prior runup. So a thumping worse-than-78.6%-retrace Wave 4 from the 2021 highs to the 2022 lows, isn't abnormal for this chart pattern. How you know the chart logic is holding up is the very special kind of voodoo-spell that kept the Wave 4 low ($161, assuming the bottom is in) above the Wave 1 high ($157). What an amazing coincidence! Nobody who bought pre-Covid crisis, or during the Covid selloff, or in the early part of the recovery, got hurt. Which is another way of saying, nobody at Big Money got hurt. Only Chad - who BTD'd and then held all the way up through 2021 - and stranded momentum funds - got hurt. So now what? Well, we should declare our house position on the market at large here. We believe the market has bottomed in the current move down. We think that the SPY and the QQQ are likely to put in final Wave 5s up that complete the bull cycles that we measure from 2016 and 2018 respectively. And we think a big ol dump - a proper dump, not just a little dumpette like 2022 - is coming thereafter. But that's for then and this is for now. For now, we think the next big move in the market is, up. And so we think that TEAM stock can also make that Wave 5 move up. And the thing about brutal Wave 4s down? Is that if the Elliott Wave / Harry Potter stuff holds up - and it does hold up, more than you might think - then Wave 5 will put in a new all time high for TEAM which, you will have noticed, is a long way up from here. Let's call it a long-term price target of not less than $485. Is TEAM Stock A Buy, Sell, or Hold? Well, you might say, if we think it can run to $485, it's a screaming buy, right? Not so fast. Here's how we like to play things of this nature at these market lows. As much as the Trading Gods have handed most of us a beating of some form in 2022 (nobody has escaped without at least a single blow - anyone that tells you they have is a big ol liar, or, has the luck of the Gods on their side, or, has been an oilbug on an exclusive basis their whole life), they are now handing you a number of gifts. That doesn't mean a guaranteed one-way free pass to Money City, population, you. It means the risk/reward setups right now for these high beta names are attractive. Here's how we think TEAM can be played in this light.

Aug 30

Atlassian: Not The Winner You're Looking For

Summary Shares of Atlassian have rallied sharply after the company posted fiscal Q4 results, which showed a surprising acceleration in revenue growth. At the same time, however, Atlassian is investing in headcount growth, causing pro forma operating margins to shrink. It expects these dynamics to impact FY23, which is negative signaling in a market that is already taking a risk-off attitude. Atlassian's valuation at ~10x forward revenue already captures much of the growth strength it has recently achieved. There's a lot of turnover right now in the stock markets, and investors are all scrambling to best protect themselves against additional volatility in the back half of the year. I continue to emphasize the same message: when it comes to investing in tech, your best bet is to stick to "growth at a reasonable price" stocks, since these names have valuation buffer to help withstand any further broad market downturns. Stocks that are trading at high (and sometimes even speculative) valuations, however, are further at risk. Atlassian (TEAM), no doubt, is one of the highest-quality software stocks on the market. Atlassian is an enterprise software company that serves three key end-markets: agile software development, work collaboration, and IT service management - and it has category leadership and strong branding in each of these three segments. Having attained $3 billion in annual revenue run rate, Atlassian's ability to maintain growth north of 30% y/y while still generating positive operating margins is truly impressive. This is a function of the company's emphasis on selling via word-of-mouth and free trials, rather than many other enterprise software companies that spend the majority of their opex on large direct sales teams. At the same time we have to question: is Atlassian really the most attractive stock in the market right now, when it's trading at a relatively wider premium to its comps? Shares of Atlassian have retreated ~30% this year to date, but have recently enjoyed a bear market rebound after posting strong fiscal Q4 results in early August. TEAM data by YCharts Here, investors are cheering the company's growth acceleration in Q4 (which we'll cover in more detail in the next section), plus the lack of more bearish macro commentary from the company. In a quarter where many software companies have pulled down their guidance forecasts for the year (citing a number of reasons ranging from FX headwinds, elongating deal cycles, and general macro pressures that are eating into IT purchasing trends), Atlassian's more confident stance is making a big difference. Yet I remain neutral on Atlassian for two key reasons. The first is that Atlassian's superior growth, at least next year, is going to come at the expense of margins. Atlassian has been hiring heavily, particularly in its R&D department (the company added 643 new employees in fiscal Q4 alone, which is not an insignificant number for a company that has just over 8,000 total heads). And while the company did not guide to any specific revenue or EPS targets for next year, the company warned that both operating margins and free cash flow will decline from FY22 levels as a result of Atlassian's personnel investments: Atlassian profitability guidance (Atlassian Q2 shareholder letter) In a risk-off market environment, investors are going to be much less willing to value based on revenue and will be paying more careful attention to margin shrinkage. Which leads me to my second detracting factor for Atlassian - it's not exactly a cheap stock. At current share prices near $251, Atlassian trades at a market cap of $36.64 billion. After we net off the $1.62 billion of cash and $1.00 billion of debt on the company's most recent balance sheet, Atlassian's resulting enterprise value is $36.02 billion. Wall Street analysts, meanwhile, are expecting Atlassian to grow revenue at a 29% y/y pace to $3.62 billion in FY23 (the fiscal year ending in June 2023; data from Yahoo Finance). Against this estimate, Atlassian trades at 10x EV/FY23 revenue - already quite a rich premium versus other ~30% growers, many of which have sunk to a mid/high single digit forward revenue multiple. And with next year's pro forma EPS estimate at $1.63, it's still too early to value Atlassian based on forward P/E (where it would sit above >100x). The bottom line here: I'm uncomfortable paying a revenue multiple premium for Atlassian. No one can doubt the company's growth prowess, but as margins are expected to continue deteriorating in FY23, I think sentiment will shift rather quickly for this name. Sit on the sidelines here. Q4 download This being said, we will acknowledge that at least on the growth front, Atlassian executed a tremendously strong Q4. Take a look at the Q4 earnings summary below: Atlassian Q2 results (Atlassian Q2 shareholder letter) Revenue grew 36% y/y to $759.8 million, beating Wall Street's expectations of $724.2 million (+29% y/y) by a large seven-point margin. Revenue growth also accelerated quite substantially versus Q3's 30% y/y growth rate. Cloud revenue, which hit $434 million (57%) of Atlassian's total revenue, was the main driver here, up 55% y/y. Recall that Atlassian is still in the process of migrating its customer base from license deals and into the cloud. Going forward, Atlassian continues to expect >50% y/y growth in cloud revenue through FY24, with ten points of that growth accruing from license migrations. Another key callout here is that Atlassian is starting to lean in more on third-party integrations and applications designed for Atlassian, which earn the company a revenue cut through its marketplace. Marketplace services revenue is still a small (<10%) slice of overall revenue, but grew 24% y/y - the strongest growth rate in three quarters. We will note, however, to watch out for declining customer growth numbers. The company added approximately 8k net-new customers in the quarter to end at 242.6k total customers. The prior-year Q4, meanwhile, saw roughly 17k in net customer adds; and that was after coming off a strong Q3 with ~13k customer adds.

Aug 23
Why Atlassian Corporation Plc (NASDAQ:TEAM) Could Be Worth Watching

Why Atlassian Corporation Plc (NASDAQ:TEAM) Could Be Worth Watching

Atlassian Corporation Plc ( NASDAQ:TEAM ) led the NASDAQGS gainers with a relatively large price hike in the past...

Shareholder Returns

TEAMUS SoftwareUS Market
7D-8.8%-3.2%-5.8%
1Y-43.8%-31.6%-22.1%

Return vs Industry: TEAM underperformed the US Software industry which returned -34.3% over the past year.

Return vs Market: TEAM underperformed the US Market which returned -23.7% over the past year.

Price Volatility

Is TEAM's price volatile compared to industry and market?
TEAM volatility
TEAM Average Weekly Movement9.2%
Software Industry Average Movement8.8%
Market Average Movement6.9%
10% most volatile stocks in US Market15.7%
10% least volatile stocks in US Market2.8%

Stable Share Price: TEAM is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: TEAM's weekly volatility (9%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
20028,813Mike Cannon-Brookeshttps://www.atlassian.com

Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions. The company also provides Confluence, a social and flexible content collaboration platform used to create, share, organize, and discuss projects; and Trello, a collaboration and organization product that captures and adds structure to fluid, fast-forming work for teams.

Atlassian Fundamentals Summary

How do Atlassian's earnings and revenue compare to its market cap?
TEAM fundamental statistics
Market CapUS$54.71b
Earnings (TTM)-US$614.12m
Revenue (TTM)US$2.80b

19.5x

P/S Ratio

-89.1x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
TEAM income statement (TTM)
RevenueUS$2.80b
Cost of RevenueUS$465.71m
Gross ProfitUS$2.34b
Other ExpensesUS$2.95b
Earnings-US$614.12m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-2.41
Gross Margin83.38%
Net Profit Margin-21.91%
Debt/Equity Ratio297.8%

How did TEAM perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

TEAM key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue19.5x
Enterprise Value/EBITDA-701.4x
PEG Ration/a

Price to Sales Ratio vs Peers

How does TEAM's PS Ratio compare to its peers?

TEAM PS Ratio vs Peers
The above table shows the PS ratio for TEAM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average6.8x
SMAR Smartsheet
6.4x23.9%US$4.2b
INTU Intuit
8.9x11.6%US$113.0b
CRM Salesforce
5.1x13.7%US$148.7b
WDAY Workday
6.7x15.8%US$38.2b
TEAM Atlassian
19.5x20.0%US$54.7b

Price-To-Sales vs Peers: TEAM is expensive based on its Price-To-Sales Ratio (19.5x) compared to the peer average (6.8x).


Price to Earnings Ratio vs Industry

How does TEAM's PE Ratio compare vs other companies in the US Software Industry?

Price-To-Sales vs Industry: TEAM is expensive based on its Price-To-Sales Ratio (19.5x) compared to the US Software industry average (4.2x)


Price to Sales Ratio vs Fair Ratio

What is TEAM'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.

TEAM PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio19.5x
Fair PS Ratio19.5x

Price-To-Sales vs Fair Ratio: TEAM is expensive based on its Price-To-Sales Ratio (19.5x) compared to the estimated Fair Price-To-Sales Ratio (19.5x).


Share Price vs Fair Value

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

Below Fair Value: TEAM ($214.59) is trading below our estimate of fair value ($368.99)

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


Analyst Price Targets

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

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.


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Future Growth

How is Atlassian forecast to perform in the next 1 to 3 years based on estimates from 24 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


30.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TEAM is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: TEAM is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: TEAM is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: TEAM's revenue (20% per year) is forecast to grow faster than the US market (7.6% per year).

High Growth Revenue: TEAM's revenue (20% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TEAM's Return on Equity is forecast to be very high in 3 years time (40.2%).


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Past Performance

How has Atlassian performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-36.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: TEAM is currently unprofitable.

Growing Profit Margin: TEAM is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: TEAM is unprofitable, and losses have increased over the past 5 years at a rate of 36.4% per year.

Accelerating Growth: Unable to compare TEAM's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: TEAM is unprofitable, making it difficult to compare its past year earnings growth to the Software industry (18.3%).


Return on Equity

High ROE: TEAM has a negative Return on Equity (-182.99%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is Atlassian's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: TEAM's short term assets ($1.9B) exceed its short term liabilities ($1.6B).

Long Term Liabilities: TEAM's short term assets ($1.9B) exceed its long term liabilities ($1.4B).


Debt to Equity History and Analysis

Debt Level: TEAM has more cash than its total debt.

Reducing Debt: Insufficient data to determine if TEAM's debt to equity ratio has reduced over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable TEAM has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: TEAM is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 29.9% per year.


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Dividend

What is Atlassian current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Atlassian Dividend Yield vs Market
How does Atlassian dividend yield compare to the market?
SegmentDividend Yield
Company (Atlassian)n/a
Market Bottom 25% (US)1.7%
Market Top 25% (US)4.7%
Industry Average (Software)1.1%
Analyst forecast in 3 Years (Atlassian)0%

Notable Dividend: Unable to evaluate TEAM's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate TEAM's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TEAM's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TEAM's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as TEAM has not reported any payouts.


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Management

How experienced are the management team and are they aligned to shareholders interests?

3.2yrs

Average management tenure


CEO

Mike Cannon-Brookes (43 yo)

19.92yrs

Tenure

US$60,211

Compensation

Mr. Michael Cannon-Brookes, also known as Mike, is a Co-Founder of Atlassian Corporation Plc and has been its Co-Chief Executive Officer since October 2002. He serves on the board of directors of Zoox Inc....


CEO Compensation Analysis

Mike Cannon-Brookes's Compensation vs Atlassian Earnings
How has Mike Cannon-Brookes's remuneration changed compared to Atlassian's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022US$60kUS$54k

-US$614m

Mar 31 2022n/an/a

-US$722m

Dec 31 2021n/an/a

-US$531m

Sep 30 2021n/an/a

-US$1b

Jun 30 2021US$61kUS$56k

-US$696m

Mar 31 2021n/an/a

-US$868m

Dec 31 2020n/an/a

-US$1b

Sep 30 2020n/an/a

-US$442m

Jun 30 2020US$51kUS$46k

-US$351m

Mar 31 2020n/an/a

-US$203m

Dec 31 2019n/an/a

-US$247m

Sep 30 2019n/an/a

-US$326m

Jun 30 2019US$300kUS$274k

-US$638m

Mar 31 2019n/an/a

-US$422m

Dec 31 2018n/an/a

-US$235m

Sep 30 2018n/an/a

-US$344m

Jun 30 2018US$326kUS$297k

-US$113m

Mar 31 2018n/an/a

-US$112m

Dec 31 2017n/an/a

-US$114m

Sep 30 2017n/an/a

-US$51m

Jun 30 2017US$323kUS$295k

-US$37m

Mar 31 2017n/an/a

-US$26m

Dec 31 2016n/an/a

-US$9m

Sep 30 2016n/an/a

-US$3m

Jun 30 2016US$312kUS$285k

US$4m

Compensation vs Market: Mike's total compensation ($USD60.21K) is below average for companies of similar size in the US market ($USD13.05M).

Compensation vs Earnings: Mike's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: TEAM's management team is considered experienced (3.2 years average tenure).


Board Members

Experienced Board: TEAM's board of directors are considered experienced (7.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of TEAM?
Owner TypeNumber of SharesOwnership Percentage
Private Companies00%
State or Government63,9880.03%
General Public15,115,2345.9%
Individual Insiders110,250,13643.2%
Institutions129,512,47150.8%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 77.77% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
21.47%
Michael Cannon-Brookes
54,735,052$11.7b-1.94%no data
21.47%
Scott Farquhar
54,735,052$11.7b-1.94%no data
8.9%
T. Rowe Price Group, Inc.
22,693,727$4.9b8.63%0.58%
2.55%
Sands Capital Management, LLC
6,504,421$1.4b6.51%4.41%
2.13%
Baillie Gifford & Co.
5,430,089$1.2b-4.67%0.6%
2.11%
Janus Henderson Group plc
5,369,079$1.2b65.6%0.66%
2.04%
Artisan Partners Limited Partnership
5,199,365$1.1b34.09%1.15%
1.98%
Jennison Associates LLC
5,038,988$1.1b-16.52%0.99%
1.48%
BlackRock, Inc.
3,774,862$810.0m-10.12%0.02%
1.32%
WCM Investment Management, LLC
3,356,842$720.3m-5.99%1.68%
1.22%
ClearBridge Investments, LLC
3,122,217$670.0m-7.05%0.63%
1.21%
FMR LLC
3,088,303$662.7m-42.44%0.06%
1.2%
Capital Research and Management Company
3,070,131$658.8m-31.91%0.05%
1.02%
Durable Capital Partners, LP
2,591,520$556.1m75.39%6.11%
0.99%
Franklin Resources, Inc.
2,523,377$541.5m3.99%0.23%
0.96%
Renaissance Technologies LLC
2,443,620$524.4m-7.58%0.66%
0.8%
Allianz Asset Management AG
2,036,443$437.0m-6.08%0.39%
0.69%
TD Asset Management, Inc.
1,770,308$379.9m3.59%0.38%
0.67%
State Street Global Advisors, Inc.
1,707,326$366.4m3.79%0.02%
0.67%
Goldman Sachs Asset Management, L.P.
1,697,765$364.3m50.49%0.16%
0.65%
AllianceBernstein L.P.
1,660,291$356.3m673.61%0.15%
0.64%
Lone Pine Capital LLC
1,619,172$347.5m15.57%3.16%
0.6%
Tiger Global Management, LLC
1,521,800$326.6m-13.1%2.63%
0.52%
William Blair Investment Management, LLC
1,335,507$286.6m-2.11%0.54%
0.49%
Massachusetts Financial Services Company
1,240,362$266.2m-13.49%0.07%

Company Information

Atlassian Corporation Plc's employee growth, exchange listings and data sources


Key Information

  • Name: Atlassian Corporation Plc
  • Ticker: TEAM
  • Exchange: NasdaqGS
  • Founded: 2002
  • Industry: Application Software
  • Sector: Software
  • Implied Market Cap: US$54.708b
  • Shares outstanding: 254.94m
  • Website: https://www.atlassian.com

Number of Employees


Location

  • Atlassian Corporation Plc
  • 341 George Street
  • Level 6
  • Sydney
  • New South Wales
  • 2000
  • Australia


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TEAMNasdaqGS (Nasdaq Global Select)YesClass A Ordinary SharesUSUSDDec 2015
59ADB (Deutsche Boerse AG)YesClass A Ordinary SharesDEEURDec 2015
TEAM NBMV (Bolsa Mexicana de Valores)YesClass A Ordinary SharesMXMXNDec 2015
T1AM34BOVESPA (Bolsa de Valores de Sao Paulo)BDR EACH 20 REPR 1 COM NPVBRBRLOct 2020

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/27 00:00
End of Day Share Price2022/09/27 00:00
Earnings2022/06/30
Annual Earnings2022/06/30


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 here.