Manhattan Associates (MANH) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Manhattan Associates

NasdaqGS•Technology•Software - Application

$213.77-8.58(-0.04%)Market closed

Market Cap

$12.39B

P/E

58.9x

P/S

11.0x

P/B

78.6x

Manhattan Associates, Inc. develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers warehouse management solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and transportation management solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, call center, POS, and customer engagement tools for enterprises and stores. The company also provides demand forecasting and replenishment, allocation, and unified business planning; technology platform including Manhattan Active Platform solutions, a cloud-native product designed to provide version-less product access; maintenance services, which offers on-premises software licensees with software upgrades for additional or improved functionality and technological advances; and professional services, such as solutions planning and implementation, and related consulting services. In addition, it provides training and change management services; and resells computer hardware, radio frequency terminal networks, radio frequency identification chip readers, bar code printers and scanners, and other peripherals. The company offers products through direct sales personnel and partnership agreements with various organizations. It serves retail, consumer goods, food and grocery, logistics service providers, industrial and wholesale, high technology and electronics, life sciences, and government industries. The company operates in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Manhattan Associates, Inc. was founded in 1990 and is headquartered in Atlanta, Georgia.

How this company scores

GoodMetricSide Score: 71/100

Strongest: Cash & Earnings Quality (25/25); weakest: Balance Sheet & Red Flags (15/25).

Profitability16/25

Growth15/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality25/25

Strengths

Rising free cash flowStrong marginsHigh ROEInterest easily covered

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 58.9x5y range 35.9x – 89.8x

Currently near its 20-quarter median.

P/S · 11.0x5y range 7.1x – 16.8x

Currently near its 20-quarter median.

P/B · 78.6x5y range 33.3x – 78.6x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Margin Pressure

Watch

Operating margins declined 5.3% — watch for continued compression, which may signal competitive or cost pressure.

Price & Volume

Market Cap $12.39B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.13B
Q. Revenue: $297.79M
TTM EBITDA: $280.67M
TTM Op. Income: $274.01M
Q. Op. Income: $66.23M
TTM Net Income: $210.23M
Q. Net Income: $50.35M
EPS: $0.86
Shares Out.: $58.76M

$1.13B in TTM revenue grew 6.5% YoY, reaching $297.79M last quarter. TTM EBITDA of $280.67M and TTM operating income of $274.01M show growth is flowing through to the bottom line. TTM net income of $210.23M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 56.5%
EBITDA Margin: 22.8%
Op. Margin: 22.2%
Net Margin: 16.9%

Op. margin of 22.2% is down 4.8% YoY — costs are rising relative to revenue. Net margin at 16.9% and gross margin of 56.5% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has fallen for 3 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 58.9x
P/S Ratio: 11.0x
P/B Ratio: 78.6x

At 58.9x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 11.0x and P/B of 78.6x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 9% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $698.65M
Cash: $186.11M
Long-Term Debt: N/A
Book Value: $157.51M
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $90.68M
TTM Free Cash Flow: $399.19M
FCF Margin: 35.4%
FCF / Net Income: 1.9

TTM FCF of $399.19M on $90.68M in operating cash flow. The FCF / Net Income ratio of 1.9x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 4 consecutive quarters — an improving trend.