(MANH) Manhattan Associates - Ratings and Ratios
Warehouse, Transportation, Omni Channel, Inventory, Platform
Dividends
Currently no dividends paid| Risk via 10d forecast | |
|---|---|
| Volatility | 32.6% |
| Value at Risk 5%th | 48.7% |
| Relative Tail Risk | -9.27% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -1.09 |
| Alpha | -59.42 |
| CAGR/Max DD | 0.23 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.399 |
| Beta | 1.311 |
| Beta Downside | 1.124 |
| Drawdowns 3y | |
|---|---|
| Max DD | 53.55% |
| Mean DD | 14.95% |
| Median DD | 7.45% |
Description: MANH Manhattan Associates November 03, 2025
Manhattan Associates (NASDAQ: MANH) builds and services cloud-native software that digitizes supply-chain, warehouse, transportation, and omni-channel operations. Its portfolio includes Manhattan Active Warehouse Management, Manhattan SCALE logistics execution, Manhattan Active Omni (order-to-cash suite), and inventory-optimization tools, complemented by professional services, training, and hardware reselling. The company sells primarily through a direct sales force and channel partners, serving retailers, consumer-goods manufacturers, logistics providers, life-science firms, and government agencies across the Americas, EMEA, and APAC.
Key quantitative signals (as of FY 2023) that shape Manhattan’s outlook include: • Revenue of $1.58 billion, up ≈ 9 % YoY, driven by strong demand for cloud-based WMS and TMS solutions; • Annual recurring revenue (ARR) grew ≈ 15 % YoY, reflecting accelerated migration from on-premise licenses to subscription models; • Gross margin remained stable around 71 %, indicating pricing power despite rising R&D spend. Sector-wide, the e-commerce boom and persistent labor shortages in warehousing are boosting spend on automation and SaaS logistics platforms, while macro-level supply-chain resilience initiatives in both the private and public sectors act as a tailwind for Manhattan’s addressable market. These observations assume the company’s reported figures are accurate and that macro trends continue; a slowdown in e-commerce growth or a rapid shift to competing low-cost providers could materially alter the outlook.
For a deeper, data-driven valuation, check the ValueRay analysis of MANH to explore how these drivers translate into potential upside.
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 |
| (C) 0.38 = EBIT TTM 278.1m / Avg Total Assets 733.5m |
| (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) 92.03
| 1. Piotroski 6.0pt |
| 2. FCF Yield 3.18% |
| 3. FCF Margin 31.23% |
| 4. Debt/Equity 0.15 |
| 5. Debt/Ebitda -0.76 |
| 6. ROIC - WACC (= 62.65)% |
| 7. RoE 76.32% |
| 8. Rev. Trend 95.73% |
| 9. EPS Trend 95.37% |
What is the price of MANH shares?
Over the past week, the price has changed by -1.55%, over one month by -1.25%, over three months by -19.19% and over the past year by -41.86%.
Is MANH a buy, sell or hold?
- 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 | 224.8 | 29% |
| Analysts Target Price | 224.8 | 29% |
| ValueRay Target Price | 169.8 | -2.6% |
MANH Fundamental Data Overview November 27, 2025
P/E Trailing = 48.7983
P/E Forward = 32.7869
P/S = 10.0129
P/B = 33.3839
P/EG = 2.5392
Beta = 1.015
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 = 10.47b USD (10.68b + Debt 47.7m - CCE 263.6m)
Interest Coverage Ratio = -139.3 (Ebit TTM 278.1m / Interest Expense TTM -2.00m)
FCF Yield = 3.18% (FCF TTM 333.2m / Enterprise Value 10.47b)
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 = 13.61 (Enterprise Value 10.47b / 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 = 28.10% (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 = 10.81% (E(10.68b)/V(10.73b) * Re(10.85%) + D(47.7m)/V(10.73b) * Rd(1.40%) * (1-Tc(0.25)))
Discount Rate = 10.85% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -1.29%
[DCF Debug] Terminal Value 72.27% ; FCFE base≈308.4m ; Y1≈368.3m ; Y5≈583.1m
Fair Price DCF = 105.0 (DCF Value 6.33b / Shares Outstanding 60.3m; 5y FCF grow 20.73% → 3.0% )
EPS Correlation: 95.37 | EPS CAGR: 32.01% | SUE: 2.80 | # QB: 16
Revenue Correlation: 95.73 | Revenue CAGR: 13.51% | SUE: 1.06 | # QB: 3
EPS next Quarter (2026-03-31): EPS=1.25 | Chg30d=+0.011 | Revisions Net=+0 | Analysts=11
EPS next Year (2026-12-31): EPS=5.41 | Chg30d=+0.112 | Revisions Net=+8 | Growth EPS=+8.6% | Growth Revenue=+6.4%
Additional Sources for MANH Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle