Overview Dividends

(MANH) Manhattan Associates - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US5627501092

Warehouse, Transportation, Omni-Channel, Inventory, Platform

Application Software
Market Cap in USD: 10,074m

IPO / Inception: 1998-04-22
Return 12m vs S&P 500: -45.3%

EPS (Earnings per Share)

EPS CAGR: -40.08%
EPS Trend: 21.9%

Last SUE: -4.00
Qual. Beats: 0

Revenue

Rev. CAGR: 13.51%
Rev. Trend: 95.7%

Last SUE: 1.06
Qual. Beats: 3

Dividends

Currently no dividends paid

Risk via 5d forecast
Volatility	32.9%
Value at Risk 5%th	48.4%
Relative Tail Risk	-10.55%

Reward TTM
Sharpe Ratio	-0.84
Alpha	-58.31
CAGR/Max DD	0.24

Character TTM
Hurst Exponent	0.397
Beta	1.296
Beta Downside	1.146

Drawdowns 3y
Max DD	53.55%
Mean DD	16.10%
Median DD	8.63%

Description: MANH Manhattan Associates January 06, 2026

Manhattan Associates (NASDAQ: MANH) builds and services cloud-native software that digitizes supply-chain, warehouse, transportation and omni-channel operations for a broad set of industries-including retail, consumer goods, food & grocery, logistics providers, and life sciences. Its product suite spans Manhattan Active Warehouse Management, Manhattan SCALE logistics execution, Manhattan Active Omni (order-to-cash), inventory-optimization tools, and a platform-as-a-service foundation that supports on-premise and subscription deployments. The company sells primarily through a direct sales force and channel partners, and it also resells hardware such as RFID readers and barcode scanners.

Key data points (FY 2023): revenue of $1.23 billion, up ~10% YoY, with subscription-based ARR now representing roughly 70% of total revenue and gross margins expanding to 44% as cloud adoption accelerates. The business benefits from macro trends like e-commerce penetration (global e-commerce sales grew ~15% YoY) and persistent labor shortages in warehousing, which drive demand for automation and SaaS logistics solutions. However, competition from SAP, Oracle and niche TMS providers, plus exposure to retail cyclicality, remain material risk factors.

For a deeper quantitative view of MANH’s valuation and risk profile, you might find ValueRay’s analyst toolkit worth a look.

Piotroski VR‑10 (Strict, 0-10) 6.0

Net Income (216.0m TTM) > 0 and > 6% of Revenue (6% = 64.0m TTM)

FCFTA 0.43 (>2.0%) and ΔFCFTA 4.50pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 11.75% (prev 8.79%; Δ 2.96pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.45 (>3.0%) and CFO 347.1m > Net Income 216.0m (YES >=105%, WARN >=100%)

Net Debt (-215.8m) to EBITDA (284.5m) ratio: -0.76 <= 3.0 (WARN <= 3.5)

Current Ratio 1.31 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (61.0m) change vs 12m ago -1.60% (target <= -2.0% for YES)

Gross Margin 55.94% (prev 54.05%; Δ 1.89pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 145.4% (prev 146.8%; Δ -1.35pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio -139.3 (EBITDA TTM 284.5m / Interest Expense TTM -2.00m) >= 6 (WARN >= 3)

Altman Z'' 5.76

(A) 0.16 = (Total Current Assets 525.8m - Total Current Liabilities 400.4m) / Total Assets 768.8m

(B) 0.44 = Retained Earnings (Balance) 338.7m / Total Assets 768.8m

(D) 0.67 = Book Value of Equity 309.2m / Total Liabilities 459.6m

Total Rating: 5.76 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 88.45

1. Piotroski 6.0pt

2. FCF Yield 3.38%

3. FCF Margin 31.23%

4. Debt/Equity 0.15

5. Debt/Ebitda -0.76

6. ROIC - WACC (= 62.81)%

7. RoE 76.32%

8. Rev. Trend 95.73%

9. EPS Trend 21.91%

What is the price of MANH shares?

As of January 10, 2026, the stock is trading at USD 175.64 with a total of 626,122 shares traded.
Over the past week, the price has changed by +5.00%, over one month by +0.80%, over three months by -13.69% and over the past year by -33.82%.

Is MANH a buy, sell or hold?

Manhattan Associates has received a consensus analysts rating of 4.20. Therefore, it is recommended to buy MANH.

Strong Buy: 5
Buy: 2
Hold: 3
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the MANH price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	220.8	25.7%
Analysts Target Price	220.8	25.7%
ValueRay Target Price	174.5	-0.6%

MANH Fundamental Data Overview January 07, 2026

P/E Trailing = 47.3295
P/E Forward = 31.9489
P/S = 9.4432
P/B = 32.5986
P/EG = 2.4794
Beta = 1.023
Revenue TTM = 1.07b USD
EBIT TTM = 278.1m USD
EBITDA TTM = 284.5m USD
Long Term Debt = 47.7m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 3.53m USD (from shortTermDebt, last fiscal year)
Debt = 47.7m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -215.8m USD (from netDebt column, last quarter)
Enterprise Value = 9.86b USD (10.07b + Debt 47.7m - CCE 263.6m)
Interest Coverage Ratio = -139.3 (Ebit TTM 278.1m / Interest Expense TTM -2.00m)
FCF Yield = 3.38% (FCF TTM 333.2m / Enterprise Value 9.86b)
FCF Margin = 31.23% (FCF TTM 333.2m / Revenue TTM 1.07b)
Net Margin = 20.25% (Net Income TTM 216.0m / Revenue TTM 1.07b)
Gross Margin = 55.94% ((Revenue TTM 1.07b - Cost of Revenue TTM 470.0m) / Revenue TTM)
Gross Margin QoQ = 55.96% (prev 56.76%)
Tobins Q-Ratio = 12.82 (Enterprise Value 9.86b / Total Assets 768.8m)
Interest Expense / Debt = 1.40% (Interest Expense 667.0k / Debt 47.7m)
Taxrate = 25.24% (19.8m / 78.4m)
NOPAT = 207.9m (EBIT 278.1m * (1 - 25.24%))
Current Ratio = 1.31 (Total Current Assets 525.8m / Total Current Liabilities 400.4m)
Debt / Equity = 0.15 (Debt 47.7m / totalStockholderEquity, last quarter 309.2m)
Debt / EBITDA = -0.76 (Net Debt -215.8m / EBITDA 284.5m)
Debt / FCF = -0.65 (Net Debt -215.8m / FCF TTM 333.2m)
Total Stockholder Equity = 283.0m (last 4 quarters mean from totalStockholderEquity)
RoA = 29.45% (Net Income 216.0m / Total Assets 768.8m)
RoE = 76.32% (Net Income TTM 216.0m / Total Stockholder Equity 283.0m)
RoCE = 84.09% (EBIT 278.1m / Capital Employed (Equity 283.0m + L.T.Debt 47.7m))
RoIC = 73.46% (NOPAT 207.9m / Invested Capital 283.0m)
WACC = 10.64% (E(10.07b)/V(10.12b) * Re(10.69%) + D(47.7m)/V(10.12b) * Rd(1.40%) * (1-Tc(0.25)))
Discount Rate = 10.69% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -1.29%
[DCF Debug] Terminal Value 72.57% ; FCFF base≈308.4m ; Y1≈368.3m ; Y5≈582.0m
Fair Price DCF = 110.2 (EV 6.43b - Net Debt -215.8m = Equity 6.64b / Shares 60.3m; r=10.64% [WACC]; 5y FCF grow 20.73% → 2.90% )
EPS Correlation: 21.91 | EPS CAGR: -40.08% | SUE: -4.0 | # QB: 0
Revenue Correlation: 95.73 | Revenue CAGR: 13.51% | SUE: 1.06 | # QB: 3
EPS next Quarter (2026-03-31): EPS=1.24 | Chg30d=-0.010 | Revisions Net=-3 | Analysts=11
EPS next Year (2026-12-31): EPS=5.33 | Chg30d=-0.054 | Revisions Net=-3 | Growth EPS=+7.2% | Growth Revenue=+6.4%

Additional Sources for MANH Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle