Latest news with #ScottFarquhar
Sydney Morning Herald
2 days ago
- Business
- Sydney Morning Herald
Luxury Sydney apartment sells for $141.55m, setting national home price record
Multimillionaire Yan Zhang has paid $141.55 million for Australia's most expensive residence, a penthouse overlooking Sydney Harbour. The mystery purchaser can finally be revealed of the top three floors of Lendlease's One Sydney Harbour development at Barangaroo South, after settling on the home on Thursday. The off-the-plan sale, inked in 2019, is an amalgamation of the two-storey penthouse of the Renzo Piano-designed building, which is for himself, and a sub-penthouse directly below, for friends and family to stay in. It tops all of Australia's previous confirmed house and apartment records, including Atlassian co-founder Scott Farquhar 's $130 million Elaine sale, which settled to a consortium of developers last week who are planning to carve it up and sell it off in four lots. It also eclipses Crown Resort's One Barangaroo circa $80 million penthouse next door, which is widely tipped to have sold to James Packer 's lieutenant Lawrence Myers last week. The previous national house price record was held in conjunction with Uig Lodge, which was set by the tech billionaire Farquhar after paying $130 million in late 2022 for the Scottish baronial mansion, which he bought from rag traders Steven and Carol Moss. That sale smashed the previous record holder by some $30 million set by his counterpart Atlassian's other founder Mike Cannon-Brookes. The tech billionaire and his wife Annie purchased Fairwater in Point Piper for $100 million, ending more than a century of Fairfax family ownership. A mansion in Melbourne's Toorak also sold this year for at least nine figures, although is reportedly unlikely to top the national record. Sources have put the sale price anywhere from $115 million to $135 million.
The Age
2 days ago
- Business
- The Age
Luxury Sydney apartment sells for $141.55m, setting national home price record
Multimillionaire Yan Zhang has paid $141.55 million for Australia's most expensive residence, a penthouse overlooking Sydney Harbour. The mystery purchaser can finally be revealed of the top three floors of Lendlease's One Sydney Harbour development at Barangaroo South, after settling on the home on Thursday. The off-the-plan sale, inked in 2019, is an amalgamation of the two-storey penthouse of the Renzo Piano-designed building, which is for himself, and a sub-penthouse directly below, for friends and family to stay in. It tops all of Australia's previous confirmed house and apartment records, including Atlassian co-founder Scott Farquhar 's $130 million Elaine sale, which settled to a consortium of developers last week who are planning to carve it up and sell it off in four lots. It also eclipses Crown Resort's One Barangaroo circa $80 million penthouse next door, which is widely tipped to have sold to James Packer 's lieutenant Lawrence Myers last week. The previous national house price record was held in conjunction with Uig Lodge, which was set by the tech billionaire Farquhar after paying $130 million in late 2022 for the Scottish baronial mansion, which he bought from rag traders Steven and Carol Moss. That sale smashed the previous record holder by some $30 million set by his counterpart Atlassian's other founder Mike Cannon-Brookes. The tech billionaire and his wife Annie purchased Fairwater in Point Piper for $100 million, ending more than a century of Fairfax family ownership. A mansion in Melbourne's Toorak also sold this year for at least nine figures, although is reportedly unlikely to top the national record. Sources have put the sale price anywhere from $115 million to $135 million.
Yahoo
15-05-2025
- Business
- Yahoo
2 Growth Stocks with Explosive Upside and 1 to Turn Down
Growth is oxygen. But when it evaporates, the consequences can be extreme - ask anyone who bought Cisco in the Dot-Com Bubble (Nvidia?) or newer investors who lived through the 2020 to 2022 COVID cycle. Deciphering which businesses can sustain their high growth rates is a challenge for even the most seasoned professionals, which is why we started StockStory. On that note, here are two growth stocks with significant upside potential and one that could be down big. One-Year Revenue Growth: +21.7% Named after the founders' affinity for frogs, JFrog (NASDAQ:FROG) provides a software-as-a-service platform that makes developing and releasing software easier and faster, especially for large teams. Why Is FROG Not Exciting? Rapid expansion strategy came at the expense of operating profitability Projected 6.6 percentage point decline in its free cash flow margin next year reflects the company's plans to increase its investments to defend its market position JFrog is trading at $41 per share, or 9.4x forward price-to-sales. Dive into our free research report to see why there are better opportunities than FROG. One-Year Revenue Growth: +19.1% Founded by Australian co-CEOs Mike Cannon-Brookes and Scott Farquhar in 2002, Atlassian (NASDAQ:TEAM) provides software as a service that makes it easier for large teams of software developers to manage projects, especially in software development. Why Are We Fans of TEAM? Average billings growth of 14.7% over the last year enhances its liquidity and shows there is steady demand for its products Software platform has product-market fit given the rapid recovery of its customer acquisition costs TEAM is a free cash flow machine with the flexibility to invest in growth initiatives or return capital to shareholders At $224.01 per share, Atlassian trades at 10x forward price-to-sales. Is now a good time to buy? See for yourself in our in-depth research report, it's free. One-Year Revenue Growth: +31.5% Formed through the merger of 12 companies, Comfort Systems (NYSE:FIX) provides mechanical and electrical contracting services. Why Should You Buy FIX? Backlog has averaged 30.5% growth over the past two years, showing it has a pipeline of unfulfilled orders that will support revenue in the future Earnings per share grew by 68.2% annually over the last two years, massively outpacing its peers Returns on capital are growing as management capitalizes on its market opportunities Comfort Systems's stock price of $465.23 implies a valuation ratio of 25x forward P/E. Is now the time to initiate a position? Find out in our full research report, it's free. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today for free. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
06-05-2025
- Business
- Forbes
Core Values – The Rules Of Your Game
Core values are the equivalent of the rules of a sport: It would not be a sport if there were no rules. getty Atlassian has had the same five core values since Scott Farquhar discovered them three years after co-founding the company in 2002—among them 'Don't #@!% the customer.' Those values have remained the same two decades later, as the company has scaled to more than 12,000 employees and remained consistent in offices with different cultures, as Atlassian has established a footprint in 13 countries. Core values are the equivalent of the rules of a sport: It would not be a sport if there were no rules. The rules are the same across countries and teams with often radically different cultures, but can be quite subjective, requiring every sport to have its version of a referee whose job is to decide if a player deserves a warning, a penalty, or to be thrown out of the game. If you're not passing out yellow and red cards, as in soccer, no one is going to take your game seriously. Core values guide decisions and spur conversations around decisions people in your organization have made. If a front-line team member has chosen a course of action that runs counter to what the leader of your company thinks is right, it can pave the way for a teachable moment—a mature conversation where the leader can say, 'These are our five values/rules. What within these rules made you make that decision?' Often, core values feed a kind of creative tension. The employee may have a thoughtful response: 'I was acting based on my understanding of this value.' The value is the focus of the conversation, not the person, a chance to learn and make better decisions in the future. However, if a team member is continually violating the rules, it may be time to free up their future. The three keys to fostering a strong foundation—whether it's raising children with good morals or shaping a company's decisions—are to establish a handful of rules, repeat them, and act in ways that are consistent with them. It's this consistency of action and decision-making by all team members, aligned with a set of rules, which is the essence of a strong brand. Equally important, a culture driven by a handful of core values makes leading people much easier, reduces the need for stacks of policies and procedures, gives everyone a framework from which to make tough decisions, and generally brings simplicity and clarity to many of the 'people' systems within a firm. So, how do you discover your core values if they've not yet been delineated–and bring them to life? Here are some ideas to get you started, so you can use your core values to replace the random lists you're using for organizing employee orientation, recruiting, interviewing, and performance management. If you haven't articulated your core values, starting from scratch can be frustrating. Jim Collins, the author of Good to Great , suggests a thought experiment he calls "Mission to Mars," which offers a quick, engaging method for discovering the right core values for your organization. Gather a representative group of employees or leaders from across the company, ask them to pick five employees who represent what's best about your firm to send on a hypothetical mission to Mars for observation by Martian anthropologists. These individuals should embody the organization's best qualities through their actions. Determine the top three vote-getters and initiate a conversation about them: Who are they? How do they go about their work? Why are they important or valuable to the organization? This will generate a list of phrases (avoid single words) that begin to show a pattern. This is the start of your list of core values. To validate, ask this group of leaders, 'Who have we hired and then found they weren't a good fit?' and brainstorm what went wrong. Often, it's because their actions and decisions weren't aligned with those of your 'Mars Mission' team. Collins emphasizes that there are no universally "right" core values—what matters is having values that genuinely reflect what's great about your company. At my firm, Scaling Up, we discovered five core values: Create Ecstatic Clients Honor Intellectual Creatives Everyone an Entrepreneur Practice What We Preach Relentless Transparency Like Atlassian's five core values, they are phrases (not single words) unique to our firm that have a distinct meaning inside our organization. I encourage all firms to read Atlassian's core values (linked above). You'll notice four important details. First, each of the five is a phrase with language unique to their organization, and not turned into corporate speak just because they are now a massive public company, 25 years after discovery. Second, there is a paragraph describing each, along with a video where employees throughout the organization describe what they mean to them and how they guide actions and help them make decisions. Third, each has a visual symbol that can show up in documents or on t-shirts worn by employees. Lastly, this page on their site is part of their recruiting process. Note the message in the lower right-hand corner of the page suggesting that if these values resonate with you, then this might be a company you would enjoy joining. Techniques for Bringing Your Core Values Alive Once you have your values, the other 99 percent of the effort goes into keeping these values alive with existing employees and inculcating (bringing into the culture) new employees and acquisitions as they join the firm. To keep things fresh, you have to find lots of different ways to repeat the same information—over and over—so that it doesn't get stale, yet is reinforced daily. Storytelling Everybody enjoys a good story, and most great leaders teach through parables or storytelling. Above all, the story explains any core values that might seem unusual or cryptic on their own. The more that employees can attach core values to incidents in their working lives, the more relevant and useful they become. To get storytelling into your routine, start by making it a practice at your monthly or quarterly all-employee meetings by sharing a story from the past month or quarter that represents each core value. Orientation Once you've hired team members or acquired a firm, it's time to inculcate them with your core values. Courtney Dickinson, formerly Sapient's Culture Architect, established a week-long Boot Camp, a primary goal of which was to assist computer-trained techies to function in a customer-supportive environment. She used Sapient's core values to organize experiential learning, and she found it uncommonly powerful. Performance Appraisal Just as core values should be the outline for your selection and orientation process, they should also be the skeleton on which you build your performance-appraisal system. With a little creativity, any performance measure can be linked to a core value. In addition, organize your employee handbook into sections around each core value. Recognition and Reward When you're looking for recognition and reward categories, look no further than your core values. Using them publicly—at quarterly or annual meetings or on a good-news bulletin board—reinforces the primacy of these core values within your organization. You also gain a new source of corporate stories and legends each time you give a reward or recognition that highlights a core value. Themes Core values naturally inspire quarterly or annual themes, keeping corporate improvement efforts in focus. Milliken, a textile manufacturer, selects one of its six core values each quarter, encouraging employees to improve the company around that theme. The Ritz-Carlton takes a daily approach, spotlighting one rule worldwide. This rhythm ensures core values stay visible through repetition. You might also have employees audit the firm's alignment with a core value, sparking valuable discussions that keep values from becoming mere wall decor. Everyday Management Leaders and CEOs can repeat core values endlessly without it seeming ridiculous, so long as the core values are relevant and meaningful to their employees. When you make a decision, relate it to a core value. When you reprimand or praise, refer to a core value. When customer issues arise, by all means, compare the situation to the ideal represented by the core values. The same goes for employee beefs and concerns—weigh them against your company's core values. Small as these actions may sound, they probably do more than any of the aforementioned strategies for bringing core values alive in your organization. Have a Few Rules, Repeat Yourself, and Be Consistent To guide team members to make better decisions aligned with what's best for them and your clients, it's key to discover a set of core values that define the unique rules of your organization and then play by them. Time and again, for the over 100,000 firms my firm has helped, we've found that core values make it easier to scale with less drama.
Yahoo
01-05-2025
- Business
- Yahoo
Atlassian (NASDAQ:TEAM) Reports Q1 In Line With Expectations But Stock Drops 15.7%
IT project management software company, Atlassian (NASDAQ:TEAM) met Wall Street's revenue expectations in Q1 CY2025, with sales up 14.1% year on year to $1.36 billion. The company expects next quarter's revenue to be around $1.35 billion, close to analysts' estimates. Its non-GAAP profit of $0.97 per share was 4.9% above analysts' consensus estimates. Is now the time to buy Atlassian? Find out in our full research report. Revenue: $1.36 billion vs analyst estimates of $1.35 billion (14.1% year-on-year growth, in line) Adjusted EPS: $0.97 vs analyst estimates of $0.93 (4.9% beat) Adjusted Operating Income: $348.3 million vs analyst estimates of $321.6 million (25.7% margin, 8.3% beat) Revenue Guidance for Q2 CY2025 is $1.35 billion at the midpoint, roughly in line with what analysts were expecting Operating Margin: -0.9%, down from 1.5% in the same quarter last year Free Cash Flow Margin: 47%, up from 26.6% in the previous quarter Billings: $1.53 billion at quarter end, up 2.5% year on year Market Capitalization: $59.82 billion 'I am filled with immense pride as I reflect on Team '25 and our customers' and partners' reactions to our relentless focus on innovation,' said Mike Cannon-Brookes, Atlassian's CEO and co-Founder. Founded by Australian co-CEOs Mike Cannon-Brookes and Scott Farquhar in 2002, Atlassian (NASDAQ:TEAM) provides software as a service that makes it easier for large teams of software developers to manage projects, especially in software development. A company's long-term sales performance can indicate its overall quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul. Luckily, Atlassian's sales grew at a solid 24% compounded annual growth rate over the last three years. Its growth surpassed the average software company and shows its offerings resonate with customers, a great starting point for our analysis. This quarter, Atlassian's year-on-year revenue growth was 14.1%, and its $1.36 billion of revenue was in line with Wall Street's estimates. Company management is currently guiding for a 19.7% year-on-year increase in sales next quarter. Looking further ahead, sell-side analysts expect revenue to grow 19.3% over the next 12 months, a deceleration versus the last three years. Despite the slowdown, this projection is noteworthy and indicates the market is baking in success for its products and services. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. Billings is a non-GAAP metric that is often called 'cash revenue' because it shows how much money the company has collected from customers in a certain period. This is different from revenue, which must be recognized in pieces over the length of a contract. Atlassian's billings punched in at $1.53 billion in Q1, and over the last four quarters, its growth was solid as it averaged 14.7% year-on-year increases. This alternate topline metric grew slower than total sales, meaning the company recognizes revenue faster than it collects cash - a headwind for its liquidity that could also signal a slowdown in future revenue growth. The customer acquisition cost (CAC) payback period measures the months a company needs to recoup the money spent on acquiring a new customer. This metric helps assess how quickly a business can break even on its sales and marketing investments. Atlassian is extremely efficient at acquiring new customers, and its CAC payback period checked in at 6.1 months this quarter. The company's rapid recovery of its customer acquisition costs indicates it has a highly differentiated product offering and a strong brand reputation. These dynamics give Atlassian more resources to pursue new product initiatives while maintaining the flexibility to increase its sales and marketing investments. We struggled to find many positives in these results as its revenue guidance was only in line. Overall, this was a softer quarter. The stock traded down 15.7% to $192.95 immediately following the results. Atlassian underperformed this quarter, but does that create an opportunity to invest right now? The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here, it's free. Sign in to access your portfolio
