(MANH) Manhattan Associates - NASDAQ
Sector: Technology | Industry: Software - Application | Exchange: NASDAQ (USA) | Market Cap: 8.513m USD | Total Return: -29.8% in 12m
Avg Turnover: 83.6M
EPS Trend: 94.6%
Qual. Beats: 0
Rev. Trend: 95.2%
Qual. Beats: 5
Warnings
Below Avwap Earnings
Tailwinds
No distinct edge detected
Manhattan Associates is a U.S.-based software company that develops and sells supply chain, inventory, and omni-channel commerce solutions for enterprise customers. Its product portfolio centers on warehouse management (including the cloud-native Manhattan Active Warehouse Management), transportation management (Manhattan SCALE), and unified order management and store fulfillment (Manhattan Active Omni), supported by a cloud-native technology platform, maintenance, and professional services such as implementation, consulting, training, and the resale of related hardware and peripherals like RFID readers and barcode scanners.
The company sells primarily through direct sales and partnership channels and serves a diverse set of end markets, including retail, consumer goods, food and grocery, logistics service providers, industrial and wholesale, high technology and electronics, life sciences, and government, with operations spanning the Americas, Europe, the Middle East, Africa, and Asia Pacific. Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates is one of the few publicly traded pure-play vendors in the supply chain execution software segment, an enterprise software category that competes with the supply chain modules of larger ERP suites rather than with broad-based application peers.
- Cloud transition to Manhattan Active drives subscription revenue mix
- Retail and consumer goods IT spending impacts deal pipeline
- Competition from SAP and Oracle pressures WMS market share
| Net Income: 216.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.51 > 0.02 and ΔFCF/TA 7.73 > 1.0 |
| NWC/Revenue: 4.40% < 20% (prev 4.79%; Δ -0.39% < -1%) |
| CFO/TA 0.54 > 3% & CFO 398.3m > Net Income 216.7m |
| Net Debt (-170.4m) to EBITDA (297.3m): -0.57 < 3 |
| Current Ratio: 1.10 > 1.5 & < 3 |
| Outstanding Shares: last quarter (60.0m) vs 12m ago -2.42% < -2% |
| Gross Margin: 55.56% > 18% (prev 55.16%; Δ 0.40% > 0.5%) |
| Asset Turnover: 152.0% > 50% (prev 148.3%; Δ 3.63% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM) |
| A: 0.07 (Total Current Assets 515.8m - Total Current Liabilities 467.4m) / Total Assets 740.5m |
| B: 0.32 (Retained Earnings 240.6m / Total Assets 740.5m) |
| C: 0.40 (EBIT TTM 290.7m / Avg Total Assets 724.4m) |
| D: 0.38 (Book Value of Equity 205.2m / Total Liabilities 535.4m) |
| Altman-Z'' = 4.59 = AA |
| DSRI: 1.03 (Receivables 227.1m/210.7m, Revenue 1.10b/1.05b) |
| GMI: 0.99 (GM 55.16% / 55.56%) |
| AQI: 0.76 (AQ_t 0.21 / AQ_t-1 0.27) |
| SGI: 1.05 (Revenue 1.10b / 1.05b) |
| TATA: -0.25 (NI 216.7m - CFO 398.3m) / TA 740.5m) |
| Beneish M = -3.14 (Cap -4..+1) = AA |
As of June 19, 2026, the stock is trading at USD 132.28 with a total of 1,005,178 shares traded.
Over the past week, the price has changed by -5.71%,
over one month by -3.24%,
over three months by -4.30% and
over the past year by -29.82%.
Manhattan Associates has received a consensus analysts rating of 4.20. Therefore, it is recommended to buy MANH.
- StrongBuy: 5
- Buy: 2
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 184 | 39.1% |
P/E Trailing = 40.3053
P/E Forward = 27.027
P/S = 7.7335
P/B = 41.5183
P/EG = 1.7656
Revenue TTM = 1.10b USD
EBIT TTM = 290.7m USD
EBITDA TTM = 297.3m USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = 55.7m USD (from shortLongTermDebtTotal, last quarter) (leases 55.7m already included)
Net Debt = -170.4m USD (calculated: Debt 55.7m - CCE 226.1m)
Enterprise Value = 8.34b USD (8.51b + Debt 55.7m - CCE 226.1m)
Interest Coverage Ratio = unknown (Ebit TTM 290.7m / Interest Expense TTM 0.0)
EV/FCF = 21.98x (Enterprise Value 8.34b / FCF TTM 379.6m)
FCF Yield = 4.55% (FCF TTM 379.6m / Enterprise Value 8.34b)
FCF Margin = 34.48% (FCF TTM 379.6m / Revenue TTM 1.10b)
Net Margin = 19.68% (Net Income TTM 216.7m / Revenue TTM 1.10b)
Gross Margin = 55.56% ((Revenue TTM 1.10b - Cost of Revenue TTM 489.2m) / Revenue TTM)
Gross Margin QoQ = 55.13% (prev 54.41%)
Tobins Q-Ratio = 11.27 (Enterprise Value 8.34b / Total Assets 740.5m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 55.7m)
Taxrate = 25.46% (74.0m / 290.7m)
NOPAT = 216.7m (EBIT 290.7m * (1 - 25.46%))
Current Ratio = 1.10 (Total Current Assets 515.8m / Total Current Liabilities 467.4m)
Debt / Equity = 0.27 (Debt 55.7m / totalStockholderEquity, last quarter 205.2m)
Debt / EBITDA = -0.57 (Net Debt -170.4m / EBITDA 297.3m)
Debt / FCF = -0.45 (Net Debt -170.4m / FCF TTM 379.6m)
Total Stockholder Equity = 277.0m (last 4 quarters mean from totalStockholderEquity)
RoA = 29.91% (Net Income 216.7m / Total Assets 740.5m)
RoE = 78.22% (Net Income TTM 216.7m / Total Stockholder Equity 277.0m)
RoCE = 106.4% (EBIT 290.7m / Capital Employed (Total Assets 740.5m - Current Liab 467.4m))
RoIC = 99.34% (NOPAT 216.7m / Invested Capital 218.1m)
WACC = 9.16% (E(8.51b)/V(8.57b) * Re(9.22%) + D(55.7m)/V(8.57b) * Rd(0.0%) * (1-Tc(0.25)))
Discount Rate = 9.22% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -95.56 | Cagr: -1.81%
[DCF] Terminal Value 75.39% ; FCFF base≈351.1m ; Y1≈402.4m ; Y5≈592.3m
[DCF] Fair Price = 134.7 (EV 7.80b - Net Debt -170.4m = Equity 7.97b / Shares 59.2m; r=9.16% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 94.57 | EPS CAGR: 18.58% | SUE: 0.16 | # QB: 0
Revenue Correlation: 95.20 | Revenue CAGR: 9.14% | SUE: 3.05 | # QB: 5
EPS current Quarter (2026-06-30): EPS=1.32 | Chg30d=+0.09% | Revisions=+20% | Analysts=11
EPS next Quarter (2026-09-30): EPS=1.44 | Chg30d=+0.09% | Revisions=+20% | Analysts=11
EPS current Year (2026-12-31): EPS=5.36 | Chg30d=+0.07% | Revisions=+20% | GrowthEPS=+5.9% | GrowthRev=+6.7%
EPS next Year (2027-12-31): EPS=5.95 | Chg30d=+0.12% | Revisions=+20% | GrowthEPS=+11.1% | GrowthRev=+8.6%
[Analyst] Revisions Ratio: +20%