Manhattan Associates, Inc.MANH
NasdaqGS•Technology•Software - Application
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.
Manhattan Associates, Inc. (MANH) reported trailing twelve months revenue of $1.10B as of March 2026, a 4.8% increase year-over-year. Quarterly revenue reached $282.21M, reflecting continued top-line momentum.
Manhattan Associates, Inc. generated $216.66M in TTM net income, with quarterly EBITDA of $66.77M. The operating margin contracted from 24.0% to 23.0%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (23.0%) and net margin (17.5%) indicates moderate non-operating costs. Net margin has narrowed from 20.0% a year ago, reflecting increased costs or interest expense.
MANH trades at a P/E of 35.9x (a premium multiple) and a P/S of 7.1x. The price-to-book ratio of 38.0x indicates a significant premium over book value.
The company generated $79.94M in free cash flow over the trailing twelve months, a 7.5% increase year-over-year, indicating cash generation ability. The balance sheet shows $740.54M in total assets with no in long-term debt against $205.18M in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are stable at ~25.5%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 81.3% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~10.5% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~25.6% — no sign of cost or pricing stress.
FCF covers net income by 1.6x on average — earnings are well-supported by cash generation.
Limited debt-to-equity data available.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 2.8% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation