NASDAQ · TEAM

Atlassian Corporation

Technology · Software - Application

$193.38▲ 1.63% ($3.10)today

As of 3:39 PM ET

52-week

$56.01$198.60

Market cap

$50.80B

P/E

No multiple

What the market price implies · Reverse DCF

To support a price of $193.38, this model requires revenue to grow by 38.13%/yr over the next 10 years, compounded annually.

Historical revenue grew by 23.75%/yr over the past 4 years. The required annual growth rate is 14.38 percentage points higher.

Selected forecast · Base scenario

15.84%/yr · actual 10-year annualized revenue growth

Year 1 growth: 24.89%

Market-implied · Base operating assumptions + edited margins

38.13%/yr · flat 10-year annualized revenue growth

Reverse DCF solves revenue growth itself using Base operating assumptions and your edited margins. Changing forecast growth alone does not change the implied rate. This is a model-implied requirement, not an analyst forecast.

Valuation

Recommended · Revenue & margin DCF

Price used

$193.38

Estimated value / share

$34.68

Base scenario

This estimate is 82.07% below the price used.

USD · TTM ending 2026-06-30

Year 1 growth 24.89% · Ending margin 0.16% · Discount rate 10.51%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 17, 2026, 7:39 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 17, 2026, 7:39 PM UTC · provider

Why this method?

There is not a stable run of positive FCFF to anchor a direct cash-flow CAGR, so the model should start from revenue and margin assumptions instead.

Is FCFF positive and has it been for 3+ consecutive years? Latest FCFF is not positive.

Price vs Fundamentals

Why The Stock Is Moving

Fundamentals are supporting the moveHigh confidence

1Y Price: 12.41%Revenue (TTM): 26.02%FCF (TTM): -6.81%P/FCF: 18th pct

What changed

The stock rose 12.41% over the last year. Revenue grew 26.02% over the trailing twelve months. Operating margin moved from -2.5% to 0.16%. Free cash flow declined 6.81% over the trailing twelve months.

What the market seems to be pricing

The stock move broadly lines up with stronger business momentum, and the shares are still only around the 18th percentile of their historical P/FCF range.

What would invalidate this read

Operating margin is at 0.16%. Revenue grew 26.02% — this thesis depends on that trajectory holding. Despite the price move, free cash flow fell 6.81%, which is worth watching as a leading indicator of future pressure. If revenue growth, margins, or free cash flow roll over while the stock keeps climbing, more of the move would be coming from multiple expansion than business progress.

Performance

Return analysis

Company profile

Atlassian Corporation, operating globally via its subsidiaries, specializes in creating, distributing, and supporting a diverse range of software solutions.

CEOMichael Cannon-Brookes

SectorTechnology

IndustrySoftware - Application

Employees13,301

IPO dateDec 9, 2015

https://www.atlassian.com

Market multiples

Forward P/E—

EV/EBITDA95.36

Enterprise value$20.23B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth27.6%

Gross margin (FY2026)84.83%▲2.0ppvs FY2025

Operating margin (FY2026)0.16%▲2.7ppvs FY2025

ROE-4.48%▲17.1ppYoY

Analyst consensus

RatingBuy

Target price$183.84▼4.93%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Oct 29, 2026

Q4 FY26 · EPS est $1.40 · Revenue est $1.71B

View