Manhattan Associates, Inc. (MANH) AI Stock Analysis

Manhattan Associates, Inc. specializes in developing, deploying, and maintaining software solutions for supply chain, inventory, and omni-channel operations. Its portfolio includes Manhattan SCALE for logistics execution and warehouse optimization, alongside Manhattan Active for enterprise and retail store efficiency. Built on the cloud-native Manhattan Active Platform, its software provides continuous updates without versioning constraints. The company also offers inventory optimization and planning tools, software maintenance, and professional services including implementation and consulting. In addition, Manhattan Associates distributes computer peripherals, barcode scanners, and radio frequency terminal networks to clients across retail, consumer goods, logistics, and other industries worldwide.

Between FY2021 and FY2025, revenue expanded from $663.6M to $1.08B, reflecting a 5-year revenue CAGR of 13.0% from FY2020 to FY2025. Annual revenue growth decelerated from 21.1% in FY2023 and 12.2% in FY2024 to 3.7% in FY2025. Gross margin expanded from 53.9% in FY2021 to 55.7% in FY2025, while operating margin rose from 20.2% to 26.1%. Over that timeframe, net income increased from $110.5M to $219.9M, and EPS reached $5.07. Over the trailing twelve months, revenue was $1.13B with an operating margin of 25.0%. In the latest quarter ended June 30, 2026, quarterly revenue grew 9.3% year-over-year, while quarterly earnings declined 8.6%.

As of June 30, 2026, Manhattan Associates held $186.1M in cash and short-term investments against $53.9M in total debt, yielding net cash of $132.2M. Total assets stood at $698.6M and shareholders' equity was $157.5M, with a current ratio of 0.98 and a debt-to-equity ratio of 0.34. In FY2025, operating cash flow reached $389.5M. The company spent $15.5M on capital expenditures, yielding free cash flow of $374.0M, and allocated $315.2M to share buybacks, helping reduce share count by 7.3% over five years.

At a last close of $222.17, Manhattan Associates carries a market capitalization of $12.95B and an enterprise value of $12.24B. The stock trades at a trailing P/E of 63.8x, a forward P/E of 40.3x, and an EV-to-EBITDA multiple of 42.3x. These metrics stand at a premium to the median of its US-listed Technology peers, which trade at a trailing P/E of 28.1x, a forward P/E of 18.8x, and an EV-to-EBITDA of 16.6x. Over the past year, MANH shares returned 15.1% compared to 16.8% for the S&P 500 (SPY), while its 5-year return of 37.0% trailed the index's 83.0% return.

Wall Street analysts covering MANH report 6 Strong Buy, 3 Buy, and 2 Hold ratings, with no Sell or Strong Sell recommendations. The mean price target of $230.20 represents a 3.6% upside from the last close of $222.17. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $1.17B and EPS of $5.50, representing 8.6% EPS growth. Manhattan Associates has exceeded EPS estimates in each of its last 4 quarters, and its next earnings date is October 27, 2026.

This page is an AI-written research summary of Manhattan Associates, Inc. (MANH). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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