MANH Stock Analysis: Manhattan Associates | NASDAQ

Warehouse Management, Transportation Logistics, Order Fulfillment, Inventory Planning

Total Rating 76

Safety 87

Buy Signal 0.78

Software - Application
Industry Rotation: +6.7

Market Cap: 13.0B
Avg Turnover: 112M

Risk 3d forecast

Volatility38.8%

VaR 5^th Pctl6.13%

VaR vs Median-3.42%

Reward TTM

Sharpe Ratio0.44

Rel. Str. IBD92.8

Rel. Str. Peer Group83.7 pctl

Character TTM

Beta0.419

Beta Downside0.596

Hurst Exponent0.457

Choppyness31.1%

Drawdowns 3y

Max DD60.98%

CAGR/Max DD0.09

CAGR/Mean DD0.19

EPS (Earnings per Share)

EPS CAGR: 13.15%
EPS Trend: 88.5%

Last SUE: 0.76
Qual. Beats: 0

Revenue

Rev. CAGR: 7.84%
Rev. Trend: 96.0%

Last SUE: 4.00
Qual. Beats: 6

Warnings

Seasonal Headwind

Tailwinds

Rs Leader

Idiosyncratic Leader

Seasonality 11.7 years of data

Jan +3.8% 6

Feb -2.1% 18

Mar -1.1% 15

Apr +2.3% 15

May +2.9% 34

Jun +2.8% 35

Jul +2.1% 17

Aug -0.1% 5

Sep -3.9% 45

Oct -9.0% 56

Nov +6.5% 52

Dec -2.1% 2

How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.

Description: MANH Manhattan Associates

Manhattan Associates, Inc. (NASDAQ: MANH) is an enterprise software provider that develops, sells, deploys, services, and maintains solutions for supply chain, inventory, and omni-channel operations. Its product portfolio centers on warehouse management (including the cloud-native Manhattan Active Warehouse Management), transportation management (Manhattan SCALE), and order management and store fulfillment (Manhattan Active Omni), all built on its cloud-native Manhattan Active Platform. The company also offers demand forecasting, replenishment, allocation, unified business planning, maintenance, professional services, training, and resells related hardware and peripherals such as RFID readers and barcode scanners.

Manhattan Associates sells through a combination of direct sales personnel and partnership agreements, serving a diverse customer base across retail, consumer goods, food and grocery, logistics service providers, industrial and wholesale, high technology and electronics, life sciences, and government. It operates globally across the Americas, Europe, the Middle East, Africa, and Asia Pacific. The company was founded in 1990 and is headquartered in Atlanta, Georgia. Within the Application Software sub-industry, Manhattan Associates operates in the supply chain execution (SCE) segment, where vendors typically compete on integration depth, vertical-specific functionality, and the transition of legacy on-premises deployments to cloud-native, version-less subscription platforms.

Headlines to Watch Out For

Cloud-native Warehouse Management adoption drives subscription revenue growth
Retail and consumer goods supply chain spending remains the largest customer vertical
International expansion in EMEA and APAC accelerates above-market growth
Profit margins expand as professional services mix shifts toward higher-margin recurring software

Piotroski VR-10 (Strict) 7.0

Net Income: 210.2m TTM > 0 and > 6% of Revenue
FCF/TA: 0.57 > 0.02 and ΔFCF/TA 15.87 > 1.0
NWC/Revenue: -0.71% < 20% (prev 7.20%; Δ -7.91% < -1%)
CFO/TA 0.59 > 3% & CFO 414.9m > Net Income 210.2m
Net Debt (-132.2m) to EBITDA (290.0m): -0.46 < 3
Current Ratio: 0.98 > 1.5 & < 3
Outstanding Shares: last quarter (59.5m) vs 12m ago -2.55% < -2%
Gross Margin: 54.65% > 18% (prev 55.82%; Δ -1.17% > 0.5%)
Asset Turnover: 156.1% > 50% (prev 142.0%; Δ 14.02% > 0%)
Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM)

Altman Z'' 3.77

A: -0.01 (Total Current Assets 467.1m - Total Current Liabilities 475.1m) / Total Assets 698.6m
B: 0.28 (Retained Earnings 193.9m / Total Assets 698.6m)
C: 0.39 (EBIT TTM 283.4m / Avg Total Assets 721.7m)
D: 0.29 (Book Value of Equity 157.5m / Total Liabilities 541.1m)
Altman-Z'' = 3.77 = AA

Beneish M -3.09

DSRI: 0.98 (Receivables 218.9m/209.8m, Revenue 1.13b/1.06b)
GMI: 1.02 (GM 55.82% / 54.65%)
AQI: 0.87 (AQ_t 0.23 / AQ_t-1 0.27)
SGI: 1.06 (Revenue 1.13b / 1.06b)
TATA: -0.29 (NI 210.2m - CFO 414.9m) / TA 698.6m)
Beneish M = -3.09 (Cap -4..+1) = AA

What is the price of MANH shares?

As of October 18, 2026, the stock is trading at USD 222.17 with a total of 668,734 shares traded. Over the past week, the price has changed by +8.43%, over one month by +4.78%, over three months by +36.19% and over the past year by +15.09%.

Current recommended Stop Loss: 213.60 (which is 3.9% or 1.2 ATR below the current price).

Is MANH a buy, sell or hold?

Manhattan Associates has received a consensus analysts rating of 4.27. Therefore, it is recommended to buy MANH.

StrongBuy: 6
Buy: 2
Hold: 3
Sell: 0
StrongSell: 0

What are the forecasts/targets for the MANH price?

Analysts Target Price	227.7	2.5%

Manhattan Associates (MANH) - Fundamental Data Overview as of 15 October 2026

Market Cap USD = 13.0b (13.0b USD * 1.0 USD.USD)
P/E Trailing = 62.7352
P/E Forward = 40.3226
P/S = 11.5301
P/B = 77.8883
P/EG = 2.5657
Revenue TTM = 1.13b USD
EBIT TTM = 283.4m USD
EBITDA TTM = 290.0m USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = 53.9m USD (from shortLongTermDebtTotal, last quarter) (leases 53.9m already included)
Net Debt = -132.2m USD (calculated: Debt 53.9m - CCE 186.1m)
Enterprise Value = 12.9b USD (13.0b + Debt 53.9m - CCE 186.1m)
Interest Coverage Ratio = unknown (Ebit TTM 283.4m / Interest Expense TTM 0.0)
EV/FCF = 32.20x (Enterprise Value 12.9b / FCF TTM 399.2m)
FCF Yield = 3.11% (FCF TTM 399.2m / Enterprise Value 12.9b)
FCF Margin = 35.45% (FCF TTM 399.2m / Revenue TTM 1.13b)
Net Margin = 18.67% (Net Income TTM 210.2m / Revenue TTM 1.13b)
Gross Margin = 54.65% ((Revenue TTM 1.13b - Cost of Revenue TTM 510.7m) / Revenue TTM)
Gross Margin QoQ = 53.20% (prev 55.13%)
Tobins Q-Ratio = 18.40 (Enterprise Value 12.9b / Total Assets 698.6m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 53.9m)
Taxrate = 25.81% (73.1m / 283.4m)
NOPAT = 210.2m (EBIT 283.4m * (1 - 25.81%))
Current Ratio = 0.98 (Total Current Assets 467.1m / Total Current Liabilities 475.1m)
Debt / Equity = 0.34 (Debt 53.9m / totalStockholderEquity, last quarter 157.5m)
Debt / EBITDA = -0.46 (Net Debt -132.2m / EBITDA 290.0m)
Debt / FCF = -0.33 (Net Debt -132.2m / FCF TTM 399.2m)
Total Stockholder Equity = 246.7m (last 4 quarters mean from totalStockholderEquity)
RoA = 29.13% (Net Income 210.2m / Total Assets 698.6m)
RoE = 85.23% (Net Income TTM 210.2m / Total Stockholder Equity 246.7m)
RoCE = 126.7% (EBIT 283.4m / Capital Employed (Total Assets 698.6m - Current Liab 475.1m))
RoIC = 125.7% (NOPAT 210.2m / Invested Capital 167.3m)
WACC = 7.43% (E(13.0b)/V(13.0b) * Re(7.46%) + D(53.9m)/V(13.0b) * Rd(0.0%) * (1-Tc(0.26)))
Discount Rate = 7.46% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -97.82 | Cagr: -2.15%
[DCF] Terminal Value 77.97% ; FCFF base≈362.4m ; Y1≈415.5m ; Y5≈611.5m
[DCF] Fair Price = 160.1 (EV 9.20b - Net Debt -132.2m = Equity 9.33b / Shares 58.3m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 88.46 | EPS CAGR: 13.15% | SUE: 0.76 | # QB: 0
Revenue Correlation: 96.04 | Revenue CAGR: 7.84% | SUE: 4.0 | # QB: 6
EPS current Quarter (2026-09-30): EPS=1.46 | Chg30d=+0.07% | Revisions=+0% | Analysts=10
EPS current Year (2026-12-31): EPS=5.50 | Chg30d=+0.00% | Revisions=-40% | GrowthEPS=+8.6% | GrowthRev=+7.8%
EPS next Year (2027-12-31): EPS=6.14 | Chg30d=-0.01% | Revisions=+0% | GrowthEPS=+11.8% | GrowthRev=+8.6%
[Analyst] Revisions Ratio: -22% (up=2, down=4)