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Manhattan Associates (MANH) Financials

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$191.36 0.00 (0.00%)
Closing price 07/31/2026 04:00 PM Eastern
Extended Trading
$191.49 +0.13 (+0.07%)
As of 07/31/2026 07:34 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Manhattan Associates

Annual Income Statements for Manhattan Associates

This table shows Manhattan Associates' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 103 124 116 105 86 87 110 129 177 218 220
Consolidated Net Income / (Loss)		 103 124 116 105 86 87 110 129 177 218 220
Net Income / (Loss) Continuing Operations		 103 124 116 105 86 87 110 129 177 218 220
Total Pre-Tax Income 		163 196 185 136 116 114 134 158 214 267 286
Total Operating Income		 161 194 186 134 116 114 134 153 210 262 280
Total Gross Profit		 321 355 349 318 333 586 366 409 498 571 609
Total Revenue		 556 605 595 559 618 586 664 767 929 1,042 1,081
Operating Revenue		 556 605 595 559 618 586 664 767 929 1,042 1,081
Total Cost of Revenue		 235 250 246 241 285 0.00 298 358 431 471 472
Operating Cost of Revenue		 235 250 246 241 285 - 298 358 431 471 472
Total Operating Expenses		 159 160 163 184 217 472 231 256 288 310 329
Selling, General & Admin Expense		 49 48 46 - 65 61 68 73 81 90 94
Marketing Expense		 49 48 47 51 57 48 58 65 74 76 81
Research & Development Expense		 54 55 58 72 88 84 98 112 127 138 145
Depreciation Expense		 7.76 9.09 9.06 8.61 7.99 8.95 7.91 6.66 5.75 6.30 6.32
Restructuring Charge		 - - 2.92 - - - - - 0.00 0.00 2.94
Total Other Income / (Expense), net		 1.40 1.80 -0.81 2.34 0.15 -0.29 -0.26 5.42 3.79 5.22 6.09
Interest Expense		 -1.33 -1.16 -1.17 -1.07 -0.72 -0.10 -0.07 -0.60 -5.30 -6.03 -4.39
Other Income / (Expense), net		 0.06 0.64 -1.99 1.28 -0.56 -0.38 -0.33 4.83 -1.51 -0.81 1.71
Income Tax Expense		 59 72 68 32 30 27 24 29 37 48 66
Basic Earnings per Share		 $1.41 $1.73 $1.68 $1.58 $1.33 $1.37 $1.74 $2.05 $2.86 $3.56 $3.64
Weighted Average Basic Shares Outstanding		 73.44M 71.67M 69.18M 66.20M 64.40M 63.54M 63.45M 62.77M 61.82M 61.30M 60.47M
Diluted Earnings per Share		 $1.40 $1.72 $1.68 $1.58 $1.32 $1.36 $1.72 $2.03 $2.82 $3.51 $3.60
Weighted Average Diluted Shares Outstanding		 74.04M 72.06M 69.42M 66.43M 65.10M 64.33M 64.32M 63.41M 62.61M 62.18M 61.05M
Weighted Average Basic & Diluted Shares Outstanding		 73.40M 71.80M 69.30M 66.30M 63.77M 63.80M 63.15M 62.50M - 61.12M 59.85M

Quarterly Income Statements for Manhattan Associates

This table shows Manhattan Associates' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 49 54 53 64 48 53 57 59 52 49 50
Consolidated Net Income / (Loss)		 49 54 53 64 48 53 57 59 52 49 50
Net Income / (Loss) Continuing Operations		 49 54 53 64 48 53 57 59 52 49 50
Total Pre-Tax Income 		60 59 69 76 63 65 75 78 68 69 67
Total Operating Income		 59 58 68 75 61 63 74 76 67 65 66
Total Gross Profit		 132 135 145 267 24 148 156 156 149 156 168
Total Revenue		 238 255 265 267 256 263 272 276 270 282 298
Operating Revenue		 238 255 265 267 256 263 272 276 270 282 298
Total Cost of Revenue		 107 119 120 0.00 232 115 116 120 122 127 129
Operating Cost of Revenue		 107 119 120 - - 115 116 120 122 127 129
Total Operating Expenses		 73 78 77 192 -37 85 82 80 82 91 102
Selling, General & Admin Expense		 20 21 21 20 27 24 26 24 19 24 27
Marketing Expense		 20 20 19 17 20 21 20 18 22 28 31
Research & Development Expense		 31 35 35 34 33 35 35 36 39 37 35
Depreciation Expense		 1.51 1.49 1.49 1.69 1.63 1.54 1.58 1.66 1.53 1.83 1.63
Restructuring Charge		 - 0.00 0.00 0.00 - 2.93 0.01 0.00 - 0.00 8.26
Total Other Income / (Expense), net		 0.87 1.00 0.91 1.31 2.00 1.34 0.72 2.60 1.44 4.34 0.98
Other Income / (Expense), net		 -4.44 1.00 0.91 1.31 -4.03 1.34 0.72 2.60 -2.95 4.34 0.98
Income Tax Expense		 11 4.83 16 13 15 12 18 20 16 20 17
Basic Earnings per Share		 $0.80 $0.87 $0.86 $1.04 $0.79 $0.86 $0.94 $0.97 $0.87 $0.83 $0.86
Weighted Average Basic Shares Outstanding		 61.82M 61.63M 61.42M 61.17M 61.30M 60.87M 60.61M 60.38M 60.47M 59.69M 58.76M
Diluted Earnings per Share		 $0.78 $0.86 $0.85 $1.03 $0.77 $0.85 $0.93 $0.96 $0.86 $0.82 $0.85
Weighted Average Diluted Shares Outstanding		 62.61M 62.49M 62.12M 61.95M 62.18M 61.53M 61.07M 60.95M 61.05M 60.04M 59.00M
Weighted Average Basic & Diluted Shares Outstanding		 0.00 61.57M 61.25M 61.08M 61.12M 60.71M 60.47M 60.26M 59.85M 59.16M 58.30M

Annual Cash Flow Statements for Manhattan Associates

This table details how cash moves in and out of Manhattan Associates' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 2.71 -23 27 -22 12 94 59 -38 45 -4.51 63
Net Cash From Operating Activities		 120 139 164 137 147 141 185 180 246 295 389
Net Cash From Continuing Operating Activities		 120 139 164 137 147 141 185 180 246 295 389
Net Income / (Loss) Continuing Operations		 103 124 116 105 86 87 110 129 177 218 220
Consolidated Net Income / (Loss)		 103 124 116 105 86 87 110 129 177 218 220
Depreciation Expense		 7.76 9.09 9.06 8.61 7.99 8.95 7.91 6.66 5.75 6.30 6.32
Non-Cash Adjustments To Reconcile Net Income		 15 11 30 20 31 52 83 58 73 93 111
Changes in Operating Assets and Liabilities, net		 -5.66 -5.39 8.90 3.83 22 -7.74 -17 -14 -9.01 -22 52
Net Cash From Investing Activities		 -14 3.36 -5.77 -9.84 -14 -2.73 -4.02 -6.59 -4.73 -8.68 -15
Net Cash From Continuing Investing Activities		 -14 3.36 -5.77 -9.84 -14 -2.73 -4.02 -6.59 -4.73 -8.68 -15
Purchase of Property, Plant & Equipment		 -11 -6.84 -6.20 -7.31 -15 -2.73 -4.02 -6.59 -4.73 -8.68 -15
Purchase of Investments		 -15 - -13 -15 - 0.00 0.00 0.00 0.00 0.00 0.00
Net Cash From Financing Activities		 -102 -163 -132 -149 -121 -44 -120 -204 -196 -286 -315
Net Cash From Continuing Financing Activities		 -102 -163 -132 -149 -121 -44 -120 -204 -196 -286 -315
Repurchase of Common Equity		 -112 -168 -132 -149 -121 -44 -120 -204 -196 -286 -315
Other Net Changes in Cash		 - - - - - - - -6.83 -0.16 -4.47 3.67
Cash Income Taxes Paid		 51 59 65 40 30 24 29 58 67 83 47

Quarterly Cash Flow Statements for Manhattan Associates

This table details how cash moves in and out of Manhattan Associates' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 88 -63 -4.82 12 51 -60 25 33 65 -103 -40
Net Cash From Operating Activities		 88 55 73 62 105 75 74 93 147 84 91
Net Cash From Continuing Operating Activities		 88 55 73 62 105 75 74 93 147 84 91
Net Income / (Loss) Continuing Operations		 49 54 53 64 48 53 57 59 52 49 50
Consolidated Net Income / (Loss)		 49 54 53 64 48 53 57 59 52 49 50
Depreciation Expense		 1.51 1.49 1.49 1.69 1.63 1.54 1.58 1.66 1.53 1.83 1.63
Non-Cash Adjustments To Reconcile Net Income		 18 22 25 24 21 30 25 27 30 24 31
Changes in Operating Assets and Liabilities, net		 20 -23 -5.78 -27 34 -8.37 -8.92 6.03 63 8.76 7.79
Net Cash From Investing Activities		 -1.97 -2.32 -2.22 -1.01 -3.13 -0.89 -3.98 -5.93 -4.66 -4.10 -1.01
Net Cash From Continuing Investing Activities		 -1.97 -2.32 -2.22 -1.01 -3.13 -0.89 -3.98 -5.93 -4.66 -4.10 -1.01
Purchase of Property, Plant & Equipment		 -1.97 -2.32 -2.22 -1.01 -3.13 -0.89 -3.98 -5.93 -4.66 -4.10 -1.01
Net Cash From Financing Activities		 -0.33 -114 -76 -52 -45 -136 -50 -52 -77 -179 -127
Net Cash From Continuing Financing Activities		 -0.33 -114 -76 -52 -45 -136 -50 -52 -77 -179 -127
Repurchase of Common Equity		 -0.33 -114 -76 -52 -45 -136 -50 -52 -77 -179 -127
Other Net Changes in Cash		 2.37 -1.80 -0.15 2.56 -5.08 1.72 4.84 -2.67 -0.23 -3.17 -2.61

Annual Balance Sheets for Manhattan Associates

This table presents Manhattan Associates' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 332 297 315 307 372 465 540 570 673 758 839
Total Current Assets		 237 207 228 215 232 334 408 415 479 503 583
Cash & Equivalents		 118 96 126 99 111 205 264 225 271 266 329
Accounts Receivable		 97 100 92 100 101 109 124 167 181 205 215
Prepaid Expenses		 9.22 10 9.15 11 14 15 17 23 21 22 40
Plant, Property, & Equipment, net		 21 17 15 14 23 18 14 13 12 14 23
Total Noncurrent Assets		 74 73 71 77 118 113 117 142 182 240 233
Goodwill		 62 62 62 62 62 62 62 62 62 62 62
Noncurrent Deferred & Refundable Income Taxes		 4.65 2.87 1.88 5.44 6.81 5.76 7.65 37 66 95 76
Other Noncurrent Operating Assets		 7.28 7.60 7.30 9.77 48 45 48 43 54 84 95
Total Liabilities & Shareholders' Equity		 332 297 315 307 372 465 540 570 673 758 839
Total Liabilities		 137 128 140 160 230 247 289 343 395 458 525
Total Current Liabilities		 127 118 124 145 182 197 249 316 366 400 456
Accounts Payable		 11 12 14 18 21 18 20 26 25 27 22
Accrued Expenses		 14 13 12 12 19 21 23 25 27 22 27
Current Deferred Revenue		 69 63 - - 94 - 153 209 238 278 337
Current Deferred & Payable Income Tax Liabilities		 4.07 8.92 7.23 3.54 1.35 1.87 0.38 2.05 3.03 1.26 0.80
Current Employee Benefit Liabilities		 29 21 16 29 46 42 53 54 73 72 69
Total Noncurrent Liabilities		 9.57 10 16 15 48 50 40 28 29 58 69
Other Noncurrent Operating Liabilities		 5.72 7.15 14 15 48 50 40 28 29 58 69
Total Equity & Noncontrolling Interests		 195 169 175 147 142 219 251 227 278 299 315
Total Preferred & Common Equity		 195 169 175 147 142 219 251 227 278 299 315
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 195 169 175 147 142 219 251 227 278 299 315
Common Stock		 0.73 0.70 0.68 0.65 0.64 0.64 0.63 0.62 0.62 0.61 0.60
Retained Earnings		 207 185 186 163 159 237 270 254 305 329 345
Accumulated Other Comprehensive Income / (Loss)		 -12 -16 -12 -17 -18 -18 -20 -28 -27 -31 -31

Quarterly Balance Sheets for Manhattan Associates

This table presents Manhattan Associates' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 531 527 573 675 665 698 708 745 769 741 699
Total Current Assets		 372 360 393 445 426 452 455 483 526 516 467
Cash & Equivalents		 182 153 182 208 203 215 206 231 264 226 186
Accounts Receivable		 161 178 183 206 191 200 211 210 220 227 219
Prepaid Expenses		 29 28 27 32 32 38 39 43 43 63 62
Plant, Property, & Equipment, net		 12 12 11 13 13 13 14 16 20 25 25
Total Noncurrent Assets		 147 155 169 217 226 233 239 245 223 199 207
Goodwill		 62 62 62 62 62 62 62 62 62 62 62
Noncurrent Deferred & Refundable Income Taxes		 40 48 56 70 79 87 92 99 76 44 51
Other Noncurrent Operating Assets		 45 45 51 85 85 84 85 84 84 93 94
Total Liabilities & Shareholders' Equity		 531 527 573 675 665 698 708 745 769 741 699
Total Liabilities		 350 356 363 435 425 420 463 466 460 535 541
Total Current Liabilities		 323 331 333 372 363 362 405 407 400 467 475
Accounts Payable		 25 26 25 26 26 23 24 24 21 22 31
Accrued Expenses		 24 25 26 25 23 23 26 22 24 31 30
Current Deferred Revenue		 216 227 213 264 259 253 297 300 296 356 343
Current Deferred & Payable Income Tax Liabilities		 11 0.11 0.52 8.28 0.43 0.29 3.39 0.27 0.09 0.09 0.17
Current Employee Benefit Liabilities		 46 52 67 49 55 63 55 61 59 58 71
Total Noncurrent Liabilities		 27 26 30 63 62 58 58 59 59 68 66
Other Noncurrent Operating Liabilities		 27 26 30 63 62 58 58 59 59 68 66
Total Equity & Noncontrolling Interests		 181 171 210 240 241 278 245 279 309 205 158
Total Preferred & Common Equity		 181 171 210 240 241 278 245 279 309 205 158
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 181 171 210 240 241 278 245 279 309 205 158
Common Stock		 0.62 0.62 0.62 0.62 0.61 0.61 0.61 0.60 0.60 0.59 0.58
Retained Earnings		 207 197 238 267 268 303 274 304 339 241 194
Accumulated Other Comprehensive Income / (Loss)		 -27 -27 -29 -28 -28 -26 -30 -26 -30 -36 -37

Annual Metrics And Ratios for Manhattan Associates

This table displays calculated financial ratios and metrics derived from Manhattan Associates' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 13.06% 8.66% -1.65% -5.96% 10.51% -5.11% 13.18% 15.59% 21.07% 12.23% 3.75%
EBITDA Growth		 27.17% 20.54% -5.55% -25.40% -14.21% -0.59% 15.73% 15.69% 30.41% 24.74% 7.76%
EBIT Growth		 27.44% 20.70% -5.79% -26.40% -14.65% -1.46% 17.88% 17.55% 32.28% 25.16% 7.95%
NOPAT Growth		 25.97% 19.99% -4.96% -12.06% -16.76% 2.11% 26.56% 12.51% 39.26% 23.44% 0.54%
Net Income Growth		 26.19% 20.06% -6.24% -10.12% -18.08% 1.72% 26.63% 16.73% 36.92% 23.67% 0.73%
EPS Growth		 29.63% 22.86% -2.33% -5.95% -16.46% 3.03% 26.47% 18.02% 38.92% 24.47% 2.56%
Operating Cash Flow Growth		 27.60% 15.97% 17.74% -16.28% 6.96% -4.10% 31.44% -3.00% 37.07% 19.81% 32.02%
Free Cash Flow Firm Growth		 28.91% 24.22% 21.74% -25.17% -4.83% 4.21% 31.54% -20.16% 51.84% 12.86% 38.89%
Invested Capital Growth		 15.88% 10.52% -32.97% -5.77% -32.16% -55.09% -192.04% 110.24% 463.72% 336.46% -142.50%
Revenue Q/Q Growth		 2.02% 1.03% -0.59% 0.05% 1.41% -0.99% 3.82% 3.59% 4.52% 0.00% 1.37%
EBITDA Q/Q Growth		 6.34% 3.25% -1.47% -6.33% -6.01% 2.66% -0.68% 12.18% 4.64% 0.00% 2.60%
EBIT Q/Q Growth		 6.40% 3.31% -1.50% -6.57% -6.61% 2.99% -0.45% 12.98% 4.77% 0.00% 2.70%
NOPAT Q/Q Growth		 6.71% 2.84% -3.92% 1.47% -10.15% 4.94% -0.27% 15.12% 6.67% 0.00% 2.08%
Net Income Q/Q Growth		 6.17% 2.94% -4.43% 1.36% -9.65% 4.53% 0.04% 15.48% 6.56% 0.00% 1.82%
EPS Q/Q Growth		 5.26% 1.78% -2.89% 2.60% -9.59% 4.62% 0.00% 15.34% 7.22% 0.00% 2.56%
Operating Cash Flow Q/Q Growth		 -3.48% 1.26% 6.20% -8.89% 0.36% 2.51% 1.14% 9.19% 15.55% 0.00% 12.20%
Free Cash Flow Firm Q/Q Growth		 -4.54% 1.19% 5.98% -12.07% -2.37% 5.24% -1.84% 10.93% 23.09% 636.09% 14.86%
Invested Capital Q/Q Growth		 -6.30% -3.22% -23.52% 1.75% -16.91% -34.67% -67.08% 23.91% -72.88% -47.78% -130.62%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 57.69% 58.67% 58.67% 56.92% 53.89% 100.00% 55.12% 53.30% 53.63% 54.82% 56.32%
EBITDA Margin		 30.42% 33.75% 32.41% 25.71% 19.96% 20.91% 21.38% 21.40% 23.06% 25.62% 26.62%
Operating Margin		 29.02% 32.14% 31.22% 23.94% 18.76% 19.45% 20.24% 19.91% 22.60% 25.10% 25.87%
EBIT Margin		 29.03% 32.25% 30.89% 24.17% 18.67% 19.39% 20.19% 20.54% 22.44% 25.02% 26.03%
Profit (Net Income) Margin		 18.60% 20.55% 19.59% 18.72% 13.88% 14.88% 16.65% 16.81% 19.01% 20.95% 20.34%
Tax Burden Percent		 63.54% 63.35% 63.02% 76.85% 73.88% 76.68% 82.40% 81.56% 82.64% 81.84% 76.93%
Interest Burden Percent		 100.82% 100.60% 100.64% 100.79% 100.62% 100.09% 100.05% 100.38% 102.55% 102.31% 101.56%
Effective Tax Rate		 36.46% 36.65% 36.98% 23.15% 26.12% 23.32% 17.60% 18.44% 17.36% 18.16% 23.07%
Return on Invested Capital (ROIC)		 165.04% 175.24% 189.95% 214.32% 219.10% 381.98% 19,590.63% 0.00% 3,908.86% 1,059.00% 2,276.19%
ROIC Less NNEP Spread (ROIC-NNEP)		 164.34% 174.23% 190.41% 212.72% 219.00% 382.12% 19,590.72% 0.00% 3,907.60% 1,057.41% 2,274.62%
Return on Net Nonoperating Assets (RNNOA)		 -110.22% -107.14% -122.29% -149.31% -159.84% -333.67% -19,543.57% 0.00% -3,838.94% -983.37% -2,204.54%
Return on Equity (ROE)		 54.82% 68.10% 67.66% 65.00% 59.26% 48.31% 47.06% 54.02% 69.92% 75.64% 71.66%
Cash Return on Invested Capital (CROIC)		 150.33% 165.25% 229.43% 220.26% 257.43% 458.01% 0.00% 8,237.76% 3,769.13% 933.57% 0.00%
Operating Return on Assets (OROA)		 49.66% 61.95% 60.01% 43.45% 33.96% 27.14% 26.66% 28.39% 33.51% 36.45% 35.26%
Return on Assets (ROA)		 31.82% 39.48% 38.06% 33.65% 25.25% 20.83% 21.98% 23.24% 28.40% 30.52% 27.55%
Return on Common Equity (ROCE)		 54.82% 68.10% 67.66% 65.00% 59.26% 48.31% 47.06% 54.02% 69.92% 75.64% 71.66%
Return on Equity Simple (ROE_SIMPLE)		 52.93% 73.35% 66.58% 71.15% 60.28% 39.85% 44.08% 56.86% 63.45% 73.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 103 123 117 103 86 87 111 125 173 214 215
NOPAT Margin		 18.44% 20.36% 19.68% 18.40% 13.86% 14.92% 16.68% 16.24% 18.67% 20.54% 19.91%
Net Nonoperating Expense Percent (NNEP)		 0.70% 1.02% -0.46% 1.59% 0.11% -0.14% -0.09% 1.81% 1.26% 1.59% 1.58%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 54.91% 62.32% 71.57% 68.39%
Cost of Revenue to Revenue		 42.31% 41.33% 41.33% 43.08% 46.12% 0.00% 44.88% 46.70% 46.37% 45.18% 43.68%
SG&A Expenses to Revenue		 8.85% 7.99% 7.75% 0.00% 10.45% 10.48% 10.26% 9.53% 8.74% 8.62% 8.67%
R&D to Revenue		 9.68% 9.05% 9.70% 12.86% 14.18% 14.37% 14.71% 14.58% 13.65% 13.21% 13.41%
Operating Expenses to Revenue		 28.67% 26.53% 27.45% 32.98% 35.13% 80.55% 34.88% 33.39% 31.04% 29.72% 30.45%
Earnings before Interest and Taxes (EBIT)		 162 195 184 135 115 114 134 158 208 261 282
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 169 204 193 144 123 123 142 164 214 267 288
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 24.73 22.29 19.52 18.83 35.82 30.52 39.26 33.40 47.64 55.18 33.18
Price to Tangible Book Value (P/TBV)		 36.28 35.24 30.30 32.62 63.67 42.66 52.23 46.03 61.36 69.67 41.36
Price to Revenue (P/Rev)		 8.69 6.24 5.74 4.95 8.25 11.40 14.83 9.88 14.27 15.83 9.66
Price to Earnings (P/E)		 46.72 30.39 29.32 26.46 59.42 76.59 89.07 58.74 75.08 75.58 47.48
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 2.14% 3.29% 3.41% 3.78% 1.68% 1.31% 1.12% 1.70% 1.33% 1.32% 2.11%
Enterprise Value to Invested Capital (EV/IC)		 70.52 49.89 66.54 57.31 157.77 456.38 0.00 5,497.02 1,722.90 493.64 0.00
Enterprise Value to Revenue (EV/Rev)		 8.46 6.09 5.53 4.77 8.07 11.05 14.43 9.58 13.98 15.58 9.35
Enterprise Value to EBITDA (EV/EBITDA)		 27.80 18.03 17.07 18.57 40.42 52.82 67.48 44.76 60.65 60.80 35.14
Enterprise Value to EBIT (EV/EBIT)		 29.14 18.87 17.91 19.75 43.22 56.98 71.46 46.66 62.32 62.27 35.93
Enterprise Value to NOPAT (EV/NOPAT)		 45.87 29.89 28.12 25.95 58.21 74.06 86.51 59.01 74.87 75.85 46.99
Enterprise Value to Operating Cash Flow (EV/OCF)		 39.17 26.41 20.05 19.44 33.94 45.97 51.71 40.91 52.74 55.05 25.97
Enterprise Value to Free Cash Flow (EV/FCFF)		 50.36 31.70 23.28 25.25 49.54 61.76 69.42 66.73 77.65 86.04 38.59
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.67 -0.62 -0.64 -0.70 -0.73 -0.87 -1.00 -1.02 -0.98 -0.93 -0.97
Leverage Ratio		 1.72 1.73 1.78 1.93 2.35 2.32 2.14 2.32 2.46 2.48 2.60
Compound Leverage Factor		 1.74 1.74 1.79 1.95 2.36 2.32 2.14 2.33 2.52 2.54 2.64
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 25.76 23.16 19.67 14.68 16.74 19.39 23.53 16.33 23.37 24.89 15.10
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.86 1.76 1.84 1.48 1.28 1.70 1.64 1.32 1.31 1.26 1.28
Quick Ratio		 1.78 1.67 1.75 1.38 1.17 1.59 1.56 1.24 1.24 1.18 1.19
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 93 116 141 106 101 105 138 110 167 189 262
Operating Cash Flow to CapEx		 1,045.54% 2,036.33% 2,646.65% 1,879.95% 966.95% 5,160.62% 4,611.13% 2,727.04% 5,205.45% 3,400.61% 2,519.70%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.71 1.92 1.94 1.80 1.82 1.40 1.32 1.38 1.49 1.46 1.35
Accounts Receivable Turnover		 6.04 6.12 6.18 5.81 6.15 5.58 5.68 5.27 5.34 5.39 5.15
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 28.95 31.32 36.13 37.51 33.36 28.87 41.75 57.48 75.51 80.91 58.31
Accounts Payable Turnover		 19.87 21.48 18.84 14.96 14.71 0.00 15.91 15.81 17.15 18.43 19.36
Days Sales Outstanding (DSO)		 60.42 59.67 59.09 62.78 59.38 65.40 64.25 69.28 68.37 67.70 70.91
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 18.37 17.00 19.37 24.40 24.81 0.00 22.94 23.09 21.28 19.81 18.85
Cash Conversion Cycle (CCC)		 42.05 42.67 39.72 38.37 34.56 65.40 41.31 46.19 47.09 47.89 52.05
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 67 74 49 47 32 14 -13 1.34 7.54 33 -14
Invested Capital Turnover		 8.95 8.61 9.65 11.65 15.81 25.61 1,174.59 -130.85 209.31 51.56 114.35
Increase / (Decrease) in Invested Capital		 9.15 7.02 -24 -2.85 -15 -17 -27 14 6.20 25 -47
Enterprise Value (EV)		 4,706 3,680 3,289 2,670 4,985 6,477 9,576 7,350 12,985 16,239 10,115
Market Capitalization		 4,835 3,775 3,415 2,770 5,096 6,682 9,840 7,575 13,256 16,505 10,443
Book Value per Share		 $2.68 $2.38 $2.54 $2.25 $2.23 $3.45 $3.96 $3.63 $4.52 $4.90 $5.22
Tangible Book Value per Share		 $1.82 $1.51 $1.64 $1.30 $1.25 $2.47 $2.98 $2.64 $3.51 $3.88 $4.19
Total Capital		 195 169 175 147 142 219 251 227 278 299 315
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -129 -96 -126 -101 -111 -205 -264 -225 -271 -266 -329
Capital Expenditures (CapEx)		 11 6.84 6.20 7.31 15 2.73 4.02 6.59 4.73 8.68 15
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -19 -6.24 -22 -30 -60 -68 -104 -126 -157 -163 -201
Debt-free Net Working Capital (DFNWC)		 110 89 104 70 50 137 159 100 113 103 127
Net Working Capital (NWC)		 110 89 104 70 50 137 159 100 113 103 127
Net Nonoperating Expense (NNE)		 -0.89 -1.14 0.51 -1.80 -0.11 0.22 0.22 -4.42 -3.13 -4.27 -4.69
Net Nonoperating Obligations (NNO)		 -129 -96 -126 -101 -111 -205 -264 -225 -271 -266 -329
Total Depreciation and Amortization (D&A)		 7.76 9.09 9.06 8.61 7.99 8.95 7.91 6.66 5.75 6.30 6.32
Debt-free, Cash-free Net Working Capital to Revenue		 -3.42% -1.03% -3.65% -5.45% -9.75% -11.54% -15.72% -16.38% -16.96% -15.66% -18.62%
Debt-free Net Working Capital to Revenue		 19.72% 14.78% 17.46% 12.54% 8.16% 23.37% 24.02% 13.01% 12.20% 9.88% 11.78%
Net Working Capital to Revenue		 19.72% 14.78% 17.46% 12.54% 8.16% 23.37% 24.02% 13.01% 12.20% 9.88% 11.78%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.41 $1.73 $1.68 $1.58 $1.33 $1.37 $1.74 $2.05 $0.00 $3.56 $3.64
Adjusted Weighted Average Basic Shares Outstanding		 73.44M 71.67M 69.18M 66.20M 64.40M 63.54M 63.45M 62.77M 0.00 61.30M 60.47M
Adjusted Diluted Earnings per Share		 $1.40 $1.72 $1.68 $1.58 $1.32 $1.36 $1.72 $2.03 $0.00 $3.51 $3.60
Adjusted Weighted Average Diluted Shares Outstanding		 74.04M 72.06M 69.42M 66.43M 65.10M 64.33M 64.32M 63.41M 0.00 62.18M 61.05M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 73.00M 70.40M 67.97M 65.02M 63.77M 63.80M 63.15M 62.50M 0.00 61.12M 59.85M
Normalized Net Operating Profit after Tax (NOPAT)		 103 123 119 103 86 87 111 125 173 214 218
Normalized NOPAT Margin		 18.44% 20.36% 19.99% 18.40% 13.86% 14.92% 16.68% 16.24% 18.67% 20.54% 20.11%
Pre Tax Income Margin		 29.27% 32.44% 31.09% 24.36% 18.78% 19.40% 20.20% 20.61% 23.01% 25.60% 26.44%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 108.37% 135.17% 113.07% 142.63% 141.66% 49.93% 109.00% 158.55% 111.03% 131.14% 143.29%

Quarterly Metrics And Ratios for Manhattan Associates

This table displays calculated financial ratios and metrics derived from Manhattan Associates' official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 59,847,548.00 59,164,602.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 59,847,548.00 59,164,602.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.82 0.85
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 20.27% 15.18% 14.85% 11.84% 7.36% 3.24% 2.68% 3.42% 5.70% 7.39% 9.31%
EBITDA Growth		 20.43% 23.41% 33.58% 37.90% 4.21% 9.87% 7.79% 2.56% 12.54% 7.66% -9.52%
EBIT Growth		 21.12% 24.13% 34.12% 38.44% 4.09% 10.03% 7.82% 2.66% 13.07% 7.39% -9.78%
NOPAT Growth		 29.18% 36.75% 34.13% 30.97% -3.21% -2.64% 8.00% -9.57% 9.41% -10.26% -11.77%
Net Income Growth		 28.70% 38.69% 33.18% 29.06% -1.48% -2.27% 7.61% -8.07% 8.20% -6.25% -11.32%
EPS Growth		 32.20% 38.71% 34.92% 30.38% -1.28% -1.16% 9.41% -6.80% 11.69% -3.53% -8.60%
Operating Cash Flow Growth		 59.99% -6.78% 80.58% 6.36% 18.50% 37.49% 1.08% 49.46% 40.44% 11.67% 22.46%
Free Cash Flow Firm Growth		 83.62% -49.32% -11.44% 29.93% -49.49% 118.69% 46.44% 169.38% 362.61% 139.87% 174.81%
Invested Capital Growth		 463.72% 6,234.42% 119.75% 126.67% 336.46% 22.25% 27.02% -27.52% -142.50% -153.43% -159.38%
Revenue Q/Q Growth		 -0.08% 0.00% 4.23% 0.51% -4.08% 2.73% 3.67% 1.24% -1.96% 4.37% 5.52%
EBITDA Q/Q Growth		 -1.23% 0.00% 17.42% 10.62% -25.36% 13.32% 15.20% 5.26% -18.10% 8.41% -3.18%
EBIT Q/Q Growth		 -1.38% 0.00% 17.87% 10.56% -25.85% 13.86% 15.49% 5.27% -18.32% 8.14% -2.97%
NOPAT Q/Q Growth		 0.34% 0.00% -1.55% 20.39% -25.84% 10.77% 9.21% 0.80% -10.28% -9.15% 7.37%
Net Income Q/Q Growth		 -1.39% 0.00% -1.92% 20.88% -24.72% 9.51% 7.98% 3.26% -11.39% -5.12% 2.14%
EPS Q/Q Growth		 -1.27% 0.00% -1.16% 21.18% -25.24% 10.39% 9.41% 3.23% -10.42% -4.65% 3.66%
Operating Cash Flow Q/Q Growth		 50.85% 0.00% 33.84% -14.96% 68.07% -28.12% -1.61% 25.74% 57.93% -42.85% 7.89%
Free Cash Flow Firm Q/Q Growth		 97.77% 0.00% 54.85% -12.50% -23.11% 109.93% 3.69% 60.96% 32.04% 8.85% 18.80%
Invested Capital Q/Q Growth		 -72.88% 0.00% 18.19% 66.14% -47.78% 19.23% 22.80% -5.20% -130.62% -49.89% -36.48%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 55.20% 100.00% 54.76% 55.50% 9.20% 56.40% 100.00% 56.56% 54.97% 55.13% 56.53%
EBITDA Margin		 23.48% 23.62% 26.61% 29.28% 22.79% 25.13% 27.93% 29.04% 24.26% 25.20% 23.12%
Operating Margin		 24.71% 22.64% 25.70% 28.16% 23.72% 24.04% 27.09% 27.49% 24.78% 23.01% 22.24%
EBIT Margin		 22.84% 23.03% 26.05% 28.65% 22.15% 24.55% 27.35% 28.44% 23.69% 24.55% 22.57%
Profit (Net Income) Margin		 20.46% 21.14% 19.89% 23.92% 18.77% 20.01% 20.84% 21.26% 19.21% 17.47% 16.91%
Tax Burden Percent		 81.59% 91.77% 76.36% 83.48% 76.60% 81.51% 76.21% 74.76% 75.90% 71.16% 74.91%
Interest Burden Percent		 109.75% 100.00% 100.00% 100.00% 110.64% 100.00% 100.00% 100.00% 106.85% 100.00% 100.00%
Effective Tax Rate		 18.41% 8.23% 23.64% 16.52% 23.40% 18.49% 23.79% 25.24% 24.10% 28.84% 25.09%
Return on Invested Capital (ROIC)		 4,219.45% 0.00% 0.00% 0.00% 937.00% 577.40% 507.25% 403.59% 2,150.95% 1,973.76% 1,918.27%
ROIC Less NNEP Spread (ROIC-NNEP)		 4,219.16% 0.00% 0.00% 0.00% 936.43% 576.88% 507.00% 402.77% 2,150.58% 1,972.33% 1,917.92%
Return on Net Nonoperating Assets (RNNOA)		 -4,145.03% 0.00% 0.00% 0.00% -870.85% -492.01% -422.97% -328.24% -2,084.32% -1,892.33% -1,831.91%
Return on Equity (ROE)		 74.41% 0.00% 0.00% 0.00% 66.14% 85.39% 84.28% 75.35% 66.63% 81.43% 86.36%
Cash Return on Invested Capital (CROIC)		 3,769.13% -101.63% -74.90% -77.55% 933.57% 576.62% 480.10% 420.06% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 34.12% 0.00% 0.00% 0.00% 32.27% 37.30% 41.03% 41.36% 32.09% 37.30% 35.22%
Return on Assets (ROA)		 30.55% 0.00% 0.00% 0.00% 27.35% 30.40% 31.27% 30.92% 26.02% 26.54% 26.39%
Return on Common Equity (ROCE)		 74.41% 0.00% 0.00% 0.00% 66.14% 85.39% 84.28% 75.35% 66.63% 81.43% 86.36%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00% 0.00% 88.60% 79.34% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 48 53 52 63 46 51 56 57 51 46 50
NOPAT Margin		 20.16% 20.78% 19.62% 23.51% 18.17% 19.59% 20.64% 20.55% 18.81% 16.37% 16.66%
Net Nonoperating Expense Percent (NNEP)		 0.29% 0.47% 0.39% 0.55% 0.57% 0.53% 0.25% 0.81% 0.37% 1.43% 0.35%
Return On Investment Capital (ROIC_SIMPLE)		 17.26% - - - 15.54% 21.01% 20.17% 18.33% 16.16% 22.52% 31.50%
Cost of Revenue to Revenue		 44.80% 0.00% 45.24% 44.50% 90.80% 43.60% 0.00% 43.44% 45.03% 44.87% 43.47%
SG&A Expenses to Revenue		 8.23% 8.33% 7.96% 7.62% 10.63% 9.22% 9.54% 8.73% 7.21% 8.40% 8.98%
R&D to Revenue		 13.15% 13.75% 13.32% 12.88% 12.90% 13.43% 12.80% 13.18% 14.25% 13.23% 11.67%
Operating Expenses to Revenue		 30.50% 77.36% 29.06% 27.35% -14.53% 32.36% 72.91% 29.06% 30.19% 32.12% 34.29%
Earnings before Interest and Taxes (EBIT)		 54 59 69 76 57 65 75 78 64 69 67
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 56 60 71 78 58 66 76 80 66 71 69
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 47.64 64.29 63.12 62.00 55.18 43.15 43.01 40.08 33.18 38.83 52.31
Price to Tangible Book Value (P/TBV)		 61.36 86.85 85.14 79.89 69.67 57.84 55.37 50.19 41.36 55.74 86.48
Price to Revenue (P/Rev)		 14.27 0.00 0.00 0.00 15.83 10.07 11.34 11.62 9.66 7.24 7.32
Price to Earnings (P/E)		 75.08 0.00 0.00 0.00 75.58 48.71 54.21 57.38 47.48 36.77 39.19
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 1.33% 0.00% 0.00% 0.00% 1.32% 2.05% 1.84% 1.74% 2.11% 2.72% 2.55%
Enterprise Value to Invested Capital (EV/IC)		 1,722.90 473.71 395.18 270.14 493.64 264.42 244.13 265.68 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 13.98 0.00 0.00 0.00 15.58 9.87 11.12 11.37 9.35 7.03 7.15
Enterprise Value to EBITDA (EV/EBITDA)		 60.65 0.00 0.00 0.00 60.80 37.99 42.22 43.25 35.14 26.43 28.19
Enterprise Value to EBIT (EV/EBIT)		 62.32 0.00 0.00 0.00 62.27 38.89 43.22 44.26 35.93 27.04 28.86
Enterprise Value to NOPAT (EV/NOPAT)		 74.87 0.00 0.00 0.00 75.85 48.75 54.21 57.53 46.99 36.88 39.61
Enterprise Value to Operating Cash Flow (EV/OCF)		 52.74 0.00 0.00 0.00 55.05 32.87 37.17 34.95 25.97 19.44 19.41
Enterprise Value to Free Cash Flow (EV/FCFF)		 77.65 0.00 0.00 0.00 86.04 50.45 56.90 53.16 38.59 28.66 28.75
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.98 -0.93 -0.87 -0.81 -0.93 -0.85 -0.83 -0.81 -0.97 -0.96 -0.96
Leverage Ratio		 2.46 2.87 2.90 2.60 2.48 2.85 2.71 2.50 2.60 3.22 3.31
Compound Leverage Factor		 2.70 2.87 2.90 2.60 2.74 2.85 2.71 2.50 2.78 3.22 3.31
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 22.61 22.21 22.48 25.73 24.00 16.11 17.89 18.72 14.24 11.26 11.44
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.31 1.20 1.17 1.25 1.26 1.12 1.19 1.31 1.28 1.10 0.98
Quick Ratio		 1.24 1.11 1.09 1.14 1.18 1.03 1.08 1.21 1.19 0.97 0.85
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 42 20 31 27 21 44 46 74 98 106 126
Operating Cash Flow to CapEx		 4,487.51% 2,358.38% 3,304.56% 6,174.33% 3,347.31% 8,446.69% 1,860.55% 1,570.68% 3,156.93% 2,048.38% 9,022.89%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.49 0.00 0.00 0.00 1.46 1.52 1.50 1.45 1.35 1.52 1.56
Accounts Receivable Turnover		 5.34 0.00 0.00 0.00 5.39 5.05 5.27 5.09 5.15 5.03 5.25
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 75.51 0.00 0.00 0.00 80.91 80.22 72.01 64.93 58.31 56.78 55.49
Accounts Payable Turnover		 17.15 0.00 0.00 0.00 18.43 18.43 13.99 20.93 19.36 20.78 18.22
Days Sales Outstanding (DSO)		 68.37 0.00 0.00 0.00 67.70 72.33 69.20 71.73 70.91 72.58 69.47
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 21.28 0.00 0.00 0.00 19.81 19.81 26.08 17.44 18.85 17.56 20.03
Cash Conversion Cycle (CCC)		 47.09 0.00 0.00 0.00 47.89 52.53 43.12 54.29 52.05 55.02 49.44
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 7.54 32 38 63 33 39 48 46 -14 -21 -29
Invested Capital Turnover		 209.31 0.00 0.00 0.00 51.56 29.47 24.57 19.64 114.35 120.55 115.14
Increase / (Decrease) in Invested Capital		 6.20 33 21 35 25 7.14 10 -17 -47 -60 -77
Enterprise Value (EV)		 12,985 15,198 14,985 17,018 16,239 10,371 11,759 12,131 10,115 7,741 8,053
Market Capitalization		 13,256 15,405 15,188 17,233 16,505 10,577 11,989 12,395 10,443 7,967 8,239
Book Value per Share		 $4.52 $3.89 $3.91 $4.54 $4.90 $4.01 $4.59 $5.11 $5.22 $3.43 $2.66
Tangible Book Value per Share		 $3.51 $2.88 $2.90 $3.52 $3.88 $2.99 $3.57 $4.08 $4.19 $2.39 $1.61
Total Capital		 278 240 241 278 299 245 279 309 315 205 158
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -271 -208 -203 -215 -266 -206 -231 -264 -329 -226 -186
Capital Expenditures (CapEx)		 1.97 2.32 2.22 1.01 3.13 0.89 3.98 5.93 4.66 4.10 1.01
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -157 -134 -139 -125 -163 -156 -154 -138 -201 -178 -194
Debt-free Net Working Capital (DFNWC)		 113 73 63 90 103 50 76 125 127 48 -7.99
Net Working Capital (NWC)		 113 73 63 90 103 50 76 125 127 48 -7.99
Net Nonoperating Expense (NNE)		 -0.71 -0.91 -0.70 -1.10 -1.53 -1.09 -0.54 -1.95 -1.09 -3.09 -0.74
Net Nonoperating Obligations (NNO)		 -271 -208 -203 -215 -266 -206 -231 -264 -329 -226 -186
Total Depreciation and Amortization (D&A)		 1.51 1.49 1.49 1.69 1.63 1.54 1.58 1.66 1.53 1.83 1.63
Debt-free, Cash-free Net Working Capital to Revenue		 -16.96% 0.00% 0.00% 0.00% -15.66% -14.81% -14.60% -12.95% -18.62% -16.14% -17.24%
Debt-free Net Working Capital to Revenue		 12.20% 0.00% 0.00% 0.00% 9.88% 4.79% 7.20% 11.75% 11.78% 4.40% -0.71%
Net Working Capital to Revenue		 12.20% 0.00% 0.00% 0.00% 9.88% 4.79% 7.20% 11.75% 11.78% 4.40% -0.71%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.80 $0.87 $0.86 $1.04 $0.79 $0.86 $0.94 $0.97 $0.87 $0.83 $0.86
Adjusted Weighted Average Basic Shares Outstanding		 61.82M 61.63M 61.42M 61.17M 61.30M 60.87M 60.61M 60.38M 60.47M 59.69M 58.76M
Adjusted Diluted Earnings per Share		 $0.78 $0.86 $0.85 $1.03 $0.77 $0.85 $0.93 $0.96 $0.86 $0.82 $0.85
Adjusted Weighted Average Diluted Shares Outstanding		 62.61M 62.49M 62.12M 61.95M 62.18M 61.53M 61.07M 60.95M 61.05M 60.04M 59.00M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 61.57M 61.25M 61.08M 61.12M 60.71M 60.47M 60.26M 59.85M 59.16M 58.30M
Normalized Net Operating Profit after Tax (NOPAT)		 48 53 52 63 46 54 56 57 51 46 56
Normalized NOPAT Margin		 20.16% 20.78% 19.62% 23.51% 18.17% 20.50% 20.65% 20.55% 18.81% 16.37% 18.74%
Pre Tax Income Margin		 25.07% 23.03% 26.05% 28.65% 24.51% 24.55% 27.35% 28.44% 25.32% 24.55% 22.57%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 111.03% 0.00% 0.00% 0.00% 131.14% 142.29% 128.17% 131.20% 143.29% 165.28% 206.91%

Financials Breakdown Chart

Key Financial Trends

Manhattan Associates (NASDAQ: MANH) is still producing strong profits and cash flow, but the latest quarter shows a softer balance between growth, buybacks, and cash reserves. In Q1 2026, revenue rose to $282.2 million from $262.8 million in Q1 2025, while net income increased to $49.3 million from $47.9 million. However, cash and equivalents fell sharply quarter over quarter, and the company continued aggressive share repurchases.

  • Revenue grew 7.4% year over year in Q1 2026, showing continued demand for MANH’s software and services.
  • Gross profit improved to $155.6 million from $148.2 million a year ago, indicating solid underlying profitability.
  • Operating income rose to $64.9 million, up from $63.2 million in Q1 2025.
  • Operating cash flow was strong at $84.0 million in Q1 2026, supporting the business model.
  • The company remains highly profitable on a quarterly basis, with net income of $49.3 million and diluted EPS of $0.82.
  • Retained earnings have continued to climb over the last several years, reaching $240.6 million in Q1 2026, a sign of cumulative earnings strength.
  • Deferred revenue remains very large at $355.9 million, which supports future recognized revenue but also reflects substantial customer prepayments and obligations.
  • The company still carries a sizeable liability base, with $535.4 million in total liabilities versus $205.2 million in equity.
  • Cash and equivalents dropped to $226.1 million from $263.6 million in Q3 2025, reflecting significant cash usage.
  • MANH repurchased $179.4 million of common equity in Q1 2026, far more than operating cash generation in the quarter, which pressured cash balances.

Longer-term trend: Over the last four years, Manhattan Associates has steadily expanded revenue from roughly $221.0 million in Q1 2023 to $282.2 million in Q1 2026. Earnings have also generally trended higher, although not in a perfectly straight line. The business has shown strong operating leverage at times, but quarterly results can swing with expense timing and other operating items.

Balance sheet trend: The company’s equity has improved meaningfully from $181.1 million in Q1 2023 to $205.2 million in Q1 2026, but liabilities have also increased to $535.4 million. A large part of the balance sheet is tied up in deferred revenue and operating liabilities, which is common for subscription/software businesses, but it does mean investors should watch working capital closely.

Cash flow trend: Operating cash flow has remained consistently positive over the period, which is a major strength. That said, share repurchases have been heavy for several quarters, often consuming much of the cash produced by operations. This supports EPS, but it can also reduce financial flexibility if growth slows.

Bottom line: Manhattan Associates remains a high-quality, profitable software company with steady revenue growth and strong cash generation. The main thing investors should watch is whether buybacks and rising liabilities continue to outpace cash accumulation. For now, the fundamental picture is still healthy, but cash burn from financing activity is the clearest area of caution.

08/03/26 06:28 AM ETAI Generated. May Contain Errors.

Manhattan Associates Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Manhattan Associates' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Manhattan Associates' net income appears to be on an upward trend, with a most recent value of $219.95 million in 2025, rising from $103.48 million in 2015. The previous period was $218.36 million in 2024. See where experts think Manhattan Associates is headed by visiting Manhattan Associates' forecast page.

Manhattan Associates' total operating income in 2025 was $279.80 million, based on the following breakdown:
  • Total Gross Profit: $609.05 million
  • Total Operating Expenses: $329.25 million

Over the last 10 years, Manhattan Associates' total revenue changed from $556.37 million in 2015 to $1.08 billion in 2025, a change of 94.4%.

Manhattan Associates' total liabilities were at $524.62 million at the end of 2025, a 14.4% increase from 2024, and a 283.6% increase since 2015.

In the past 10 years, Manhattan Associates' cash and equivalents has ranged from $95.62 million in 2016 to $328.75 million in 2025, and is currently $328.75 million as of their latest financial filing in 2025.

Over the last 10 years, Manhattan Associates' book value per share changed from 2.68 in 2015 to 5.22 in 2025, a change of 95.2%.


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Financial statements for NASDAQ:MANH last updated on 7/31/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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