MANH

Manhattan Associates, Inc.

$232.86

+3.30% 2026-10-20

Information TechnologyS&P 400

1M 3M 6M 1Y 2Y

MANHSPY

+4.6%

+10.1%

+46.3%

+72.6%

YTD

+34.4%

+16.4%

Live chart

Loading live chart…

Grades vs sector

Momentum

42nd pct in sector

12-1 return: +9.1%
Percentile within its GICS sector across the S&P 1500.

Growth

28th pct in sector

D+

Revenue growth (YoY): +9.3%
Percentile within its GICS sector across the S&P 1500.

Value

13th pct in sector

D-

Forward E/P: 2.8% · EBITDA/EV: 2.3%
Percentile within its GICS sector across the S&P 1500.

Profitability

83rd pct in sector

A-

Profit margin: +18.7% · Return on equity: +96.4%
Percentile within its GICS sector across the S&P 1500.

Revisions

Not enough data yet

–

EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Our models

Not held by any of our 5 live models right now.

Quality Growth

not ranked (outside this model's universe or screens)

Momentum Top 15

not ranked (outside this model's universe or screens)

Momentum Blend

not in the current book

New Highs Growth

not ranked (outside this model's universe or screens)

Conviction 20

not in the current book

News

More news

Stocks making big moves this week: Hewlett Packard Enterprise, Frontdoor, Chipotle, Domino's, and Manhattan Associates

StockStory · Oct 16

Key stats

Market cap$13.6B

P/E (trailing)66.9

P/E (forward)37.9

52-week range119.06 – 233.32

Revenue growth (YoY, latest qtr)+9.3%

Dividend yield0.00%

Analyst consensusBuy (10)

Mean price target$230.20 (-1%)

Valuation and fundamentals

Valuation & fundamentals

Bottom line

Looks expensive

Model read-out from the numbers below, not advice. Score -3 (DCF counts double).

▼DCF (base case)below the price by 25%

▼Forward P/E vs sector37.9x vs median 16.9x

•Piotroski F-score6/9

▲Net debt / EBITDA-0.7x

•Analyst target-1% (10 analysts)

Discounted cash flow

Bear

$110

-53%

growth 6% · disc. 10.0% · term. 2.0%

Base

$174

-25%

growth 11% · disc. 9.0% · term. 2.5%

Bull

$264

+13%

growth 14% · disc. 8.0% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal

Today's price assumes free cash flow grows about 13% a year for 10 years.

Implied

+13%/yr

FCF, last 3 yrs

+29%/yr

FCF, last 5 yrs

+22%/yr

Revenue, last 3 yrs

+12%/yr

Revenue, last 5 yrs

+13%/yr

Same inputs as the DCF above: trailing free cash flow 0.4B, 9.0% discount rate, 2.5% growth after year 10, net cash and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.

Edit assumptions · recalculates instantly

Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 0.95 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Information Technology

P/E (trailing)

sector median 35.9× · 79th pct

66.9×
pricier

Forward P/E

sector median 16.9× · 93rd pct

37.9×
pricier

EV / EBITDA

sector median 20.8× · 85th pct

47.7×
pricier

Price / sales

sector median 4.6× · 84th pct

12.1×
pricier

Price / book

sector median 5.1× · 99th pct

86.2×
pricier

FCF yield

sector median 3.5% · 43rd pct

2.9%
pricier

Forward EPS $6.14 vs trailing $3.48 (+76% expected growth). Forward P/E uses analysts' next-12-month estimate.

Backlog (remaining performance obligations)

RPO

$2.5B

as of 2026-06-30

vs a year ago

+25%

YoY

× TTM revenue

2.22×

coverage

24-09

24-12

25-03

25-06

25-09

25-12

26-03

26-06

Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).

Quality & financial health

Gross margin

55.8%

Operating margin

24.3%

FCF margin

35.4%

Net margin

18.7%

Return on equity

133.5%

Return on invested capital

–

Net debt / EBITDA

-0.7×

Current ratio

1.0×

Interest cover

–

Cash conversion (OCF/NI)

2.0×

Piotroski F-score 6/9 · last two fiscal years

✓ Positive net income✓ Positive operating cash flow✗ Return on assets improved✓ Cash flow above net income✓ Long-term debt / assets fell✓ Current ratio improved✓ No share dilution✗ Gross margin improved✗ Asset turnover improved

Analysts

Mean target

$230

-1%

Analysts

Buy

Range

$190–$260

low – high

● price · ◆ mean target

Annual history

FY	Revenue	Net income	Free cash flow
2025	$1.1B	$219.9M	$374.0M
2024	$1.0B	$218.4M	$286.3M
2023	$928.7M	$176.6M	$241.5M
2022	$767.1M	$129.0M	$173.0M
2021	$663.6M	$110.5M	$181.2M
2020	$586.4M	$87.2M	$138.2M

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +12.1%.

Earnings

Next report: 2026-10-27 · after close · EPS est 1.46

EstimateActual (beat)Actual (miss)

Report	EPS est	Actual	Surprise
2026-07-28	1.32	1.39	+5.3%
2026-04-21	1.11	1.24	+11.3%
2026-01-27	1.13	1.21	+6.7%
2025-10-21	1.19	1.36	+14.6%
2025-07-22	1.13	1.31	+16.2%
2025-04-22	1.03	1.19	+15.7%
2025-01-28	1.06	1.17	+10.4%
2024-10-22	1.06	1.35	+26.8%

Quarterly revenue

Quarter	Revenue	YoY
2026-06-30	$297.8M	+9.3%
2026-03-31	$282.2M	–
2025-12-31	$270.4M	–
2025-09-30	$275.8M	–
2025-06-30	$272.4M	–

Analyst actions

Citigroup

2026-10-20 · main

Buy → Buy
PT $260

Stifel

2026-10-14 · main

Buy → Buy
PT $250

Morgan Stanley

2026-10-12 · up

Equal-Weight → Overweight
PT $250

DA Davidson

2026-09-28 · down

Buy → Neutral
PT $210

Barclays

2026-09-08 · main

Overweight → Overweight
PT $239

Baird

2026-08-26 · main

Outperform → Outperform
PT $260

Insider trades

Clark Eric Andrew

Director, President & CEO · 2026-08-11

SELL
$593.3K

Hollembaek Linda T.

Director · 2026-08-06

SELL
$299.8K

Gantt James Stewart

EVP, Professional Services · 2026-07-30

SELL
$1.0M

Stats refreshed 2026-10-20 18:02:43 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

coteau

Coteau Systematic Strategies publishes stock research and model portfolios. It doesn't manage money or give investment advice. Results are hypothetical unless marked Live. Data: Yahoo Finance (delayed) and SEC EDGAR.

How it works Disclaimer Terms Privacy Data status