MANH
MANHATTAN ASSOCIATES INC
Next earnings Jul 20, 2026 · consensus $1.35 EPS, $294M rev
Last earnings +0.8% on 2026-04-21
$151.04
▲ +9.37%$151.04▼ -23.43%
over 1Y
L $120.88H $227.94
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+9.4%
1W+18.1%
1M-2.6%
3M+12.2%
YTD-9.7%
1Y-23.4%
Hold
Conviction
Horizon
Long (>12mo)
12-mo target
$•••
Street · 19 analysts
Buy
Best-in-class supply-chain SaaS with elite margins and cash flow, but growth has cooled and 37x leaves no cushion.
Operating margin 25.9% · FY2025
The read
Middling fundamentals and a rich price (~67% above fair value) leave little margin of safety — a wait-and-see.
Manhattan Associates is a leading provider of cloud-based supply-chain, inventory and omnichannel software (Manhattan Active SaaS) to premier retailers, wholesalers and logistics firms. The quality metrics are elite: 25.9% operating margin, 20.3% net margin, and a 69.9% ROE (flattered by a thin, buyback-shrunk equity base). FY2025 operating income rose 7.0% to $280M and operating cash flow surged 32.0% to $389M against just $15.5M of capex — a capital-light, highly cash-generative model. The balance sheet is clean with $329M cash and no debt noted.
The issue is decelerating growth. Revenue rose only 3.7% to $1.08B and net income just 0.7% to $220M (EPS +2.6% to $3.60), a marked slowdown from the 12%+ revenue growth of FY2023-2024 as the business works through its license-to-cloud-subscription transition. Buybacks of $315M (shares -2.1%) are doing much of the per-share work. The risk factors flag the long sales cycle, dependence on a 'single line of business,' and macro/tariff sensitivity in customers' capex.
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 4:50 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $664M | $767M | $929M | $1.04B | $1.08B |
| Gross profit | — | — | — | — | — |
| Operating income | $134M | $153M | $210M | $262M | $280M |
| Net income | $110M | $129M | $177M | $218M | $220M |
| Diluted EPS | $1.72 | $2.03 | $2.82 | $3.51 | $3.60 |
| Net margin | 16.6% | 16.8% | 19.0% | 20.9% | 20.3% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$8.61B
EV / EBITDA30.1
EV / Sales8.0
EV / FCF23.0
P / FCF23.9
PEG (trailing)57.84
Earnings yield2.5%
FCF yield4.2%
Quality & risk
ROIC (est.)70.2%
Free cash flow$374M
Total debt—
Net cash$329M
Piotroski F-Score5/7
Capital returns
Buyback yield3.5%
Dividend yield (est.)—
Shareholder yield3.5%
Shares Δ YoY-2.1%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsSome governance/structural items recently, but no outright red flags.
Recent filings
all on EDGAR ↗4Period ending 2026-06-152026-06-16open ↗4Period ending 2026-06-102026-06-10open ↗144Filing2026-06-10open ↗8-KPeriod ending 2026-06-012026-06-01open ↗8-KPeriod ending 2026-05-142026-05-20open ↗4Period ending 2026-05-142026-05-18open ↗4Period ending 2026-05-142026-05-18open ↗4Period ending 2026-05-142026-05-18open ↗4Period ending 2026-05-142026-05-18open ↗4Period ending 2026-05-142026-05-18open ↗4Period ending 2026-05-142026-05-18open ↗4Period ending 2026-05-142026-05-18open ↗
Frequently asked
- Is MANHATTAN ASSOCIATES INC (MANH) a buy?
- MANH currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Best-in-class supply-chain SaaS with elite margins and cash flow, but growth has cooled and 37x leaves no cushion.
- What is MANH's fair value?
- A Modified-Graham model based on MANH's SEC fundamentals estimates a fair value of about $49.29. It is an estimate from reported earnings, not a price target.
- Is MANH overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, MANH currently appears overvalued relative to its SEC-grounded earnings power.
- What is MANHATTAN ASSOCIATES INC's quality score?
- MANH scores 64.74680408670436/100 (grade C+) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001056696, latest 10-Q filed 2026-04-24) · EODHD · Proprietary analysis · as of 6/21/2026, 8:50:44 PM.
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