Manhattan Associates (MANH)
Market Price (2/27/2026): $139.58 | Market Cap: $8.4 BilSector: Information Technology | Industry: Application Software
Manhattan Associates (MANH)
Market Price (2/27/2026): $139.58Market Cap: $8.4 BilSector: Information TechnologyIndustry: Application Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 26% | Weak multi-year price returns2Y Excs Rtn is -80%, 3Y Excs Rtn is -75% | Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 10% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 36%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 35% | Key risksMANH key risks include [1] an ongoing securities fraud investigation and shareholder lawsuit related to alleged misrepresentation of its Services segment, Show more. | |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -33% | ||
| Low stock price volatilityVol 12M is 39% | ||
| Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, Automation & Robotics, and E-commerce & DTC Adoption. Themes include Last-Mile Delivery, Show more. |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 26% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 36%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 35% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -33% |
| Low stock price volatilityVol 12M is 39% |
| Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, Automation & Robotics, and E-commerce & DTC Adoption. Themes include Last-Mile Delivery, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -80%, 3Y Excs Rtn is -75% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 10% |
| Key risksMANH key risks include [1] an ongoing securities fraud investigation and shareholder lawsuit related to alleged misrepresentation of its Services segment, Show more. |
Qualitative Assessment
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1. Weak Full-Year 2026 Earnings Guidance.
Despite beating analyst expectations for Q4 2025 earnings per share (EPS) at $1.21 against an estimated $1.11, and revenue of $270.39 million versus an estimated $264.69 million, Manhattan Associates’ stock experienced a significant decline following its Q4 2025 report on January 27, 2026. This negative reaction, including a 5.2% drop on January 29, 2026, was primarily driven by the company providing weaker-than-expected full-year 2026 adjusted earnings guidance, with the midpoint of $5.12 per share falling short of analyst estimates.
2. Decline in Professional Services Revenue Amidst Cloud Transition.
The company faced challenges in its professional services segment, which experienced a 6% year-over-year decline in revenue. This indicates difficulties in maintaining performance in this area, partly due to macroeconomic uncertainties and the ongoing, complex transition of its significant customer base from on-premise solutions to cloud software. This migration complexity can introduce volatility in revenues and earnings per share due to potential deal slippage.
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Stock Movement Drivers
Fundamental Drivers
The -23.3% change in MANH stock from 10/31/2025 to 2/26/2026 was primarily driven by a -25.1% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 2262026 | Change |
|---|---|---|---|
| Stock Price ($) | 182.07 | 139.61 | -23.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,067 | 1,081 | 1.4% |
| Net Income Margin (%) | 20.2% | 20.3% | 0.4% |
| P/E Multiple | 50.9 | 38.1 | -25.1% |
| Shares Outstanding (Mil) | 60 | 60 | 0.6% |
| Cumulative Contribution | -23.3% |
Market Drivers
10/31/2025 to 2/26/2026| Return | Correlation | |
|---|---|---|
| MANH | -23.3% | |
| Market (SPY) | 1.1% | 41.9% |
| Sector (XLK) | -6.2% | 37.8% |
Fundamental Drivers
The -36.4% change in MANH stock from 7/31/2025 to 2/26/2026 was primarily driven by a -36.7% change in the company's P/E Multiple.| (LTM values as of) | 7312025 | 2262026 | Change |
|---|---|---|---|
| Stock Price ($) | 219.66 | 139.61 | -36.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,058 | 1,081 | 2.2% |
| Net Income Margin (%) | 20.9% | 20.3% | -2.7% |
| P/E Multiple | 60.2 | 38.1 | -36.7% |
| Shares Outstanding (Mil) | 61 | 60 | 1.0% |
| Cumulative Contribution | -36.4% |
Market Drivers
7/31/2025 to 2/26/2026| Return | Correlation | |
|---|---|---|
| MANH | -36.4% | |
| Market (SPY) | 9.4% | 41.8% |
| Sector (XLK) | 7.5% | 35.7% |
Fundamental Drivers
The -33.1% change in MANH stock from 1/31/2025 to 2/26/2026 was primarily driven by a -34.6% change in the company's P/E Multiple.| (LTM values as of) | 1312025 | 2262026 | Change |
|---|---|---|---|
| Stock Price ($) | 208.59 | 139.61 | -33.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,025 | 1,081 | 5.5% |
| Net Income Margin (%) | 21.4% | 20.3% | -4.9% |
| P/E Multiple | 58.2 | 38.1 | -34.6% |
| Shares Outstanding (Mil) | 61 | 60 | 1.9% |
| Cumulative Contribution | -33.1% |
Market Drivers
1/31/2025 to 2/26/2026| Return | Correlation | |
|---|---|---|
| MANH | -33.1% | |
| Market (SPY) | 15.5% | 62.6% |
| Sector (XLK) | 22.8% | 58.6% |
Fundamental Drivers
The 7.1% change in MANH stock from 1/31/2023 to 2/26/2026 was primarily driven by a 46.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312023 | 2262026 | Change |
|---|---|---|---|
| Stock Price ($) | 130.36 | 139.61 | 7.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 740 | 1,081 | 46.0% |
| Net Income Margin (%) | 15.1% | 20.3% | 34.9% |
| P/E Multiple | 73.1 | 38.1 | -47.8% |
| Shares Outstanding (Mil) | 63 | 60 | 4.3% |
| Cumulative Contribution | 7.1% |
Market Drivers
1/31/2023 to 2/26/2026| Return | Correlation | |
|---|---|---|
| MANH | 7.1% | |
| Market (SPY) | 75.9% | 51.8% |
| Sector (XLK) | 111.7% | 49.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MANH Return | 48% | -22% | 77% | 26% | -36% | -22% | 29% |
| Peers Return | 28% | -15% | 31% | 26% | -10% | -23% | 24% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 85% |
Monthly Win Rates [3] | |||||||
| MANH Win Rate | 58% | 33% | 67% | 67% | 33% | 0% | |
| Peers Win Rate | 63% | 47% | 58% | 57% | 45% | 10% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 100% | |
Max Drawdowns [4] | |||||||
| MANH Max Drawdown | -2% | -30% | -5% | -7% | -47% | -25% | |
| Peers Max Drawdown | -7% | -31% | -6% | -8% | -32% | -26% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ORCL, DSGX, SPSC, PTC, TRMB. See MANH Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/26/2026 (YTD)
How Low Can It Go
| Event | MANH | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -41.4% | -25.4% |
| % Gain to Breakeven | 70.6% | 34.1% |
| Time to Breakeven | 205 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -57.9% | -33.9% |
| % Gain to Breakeven | 137.7% | 51.3% |
| Time to Breakeven | 70 days | 148 days |
| 2018 Correction | ||
| % Loss | -33.9% | -19.8% |
| % Gain to Breakeven | 51.4% | 24.7% |
| Time to Breakeven | 120 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -54.9% | -56.8% |
| % Gain to Breakeven | 121.9% | 131.3% |
| Time to Breakeven | 507 days | 1,480 days |
Compare to ORCL, DSGX, SPSC, PTC, TRMB
In The Past
Manhattan Associates's stock fell -41.4% during the 2022 Inflation Shock from a high on 11/2/2021. A -41.4% loss requires a 70.6% gain to breakeven.
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About Manhattan Associates (MANH)
AI Analysis | Feedback
1. SAP or Oracle for enterprise supply chain and fulfillment software.
2. The software that helps companies achieve Amazon-level logistics and omnichannel commerce.
AI Analysis | Feedback
- Manhattan Active® Warehouse Management: This cloud-native software optimizes inventory, labor, and space within distribution and fulfillment centers to enhance operational efficiency.
- Manhattan Active® Transportation Management: A comprehensive software solution for planning, executing, and optimizing all modes of transportation, from small parcel to global freight.
- Manhattan Active® Omnichannel Solutions: A unified suite of software applications, including Order Management, Point of Sale, and Store Inventory & Fulfillment, designed to streamline customer experiences across all retail channels.
- Professional Services: (Category: Implementation & Consulting) These services provide expert assistance for software implementation, system integration, solution configuration, user training, and strategic consulting to maximize clients' return on investment.
- Cloud Services: (Category: Managed Hosting & Support) These services encompass hosting, monitoring, maintenance, and ongoing technical support for Manhattan's cloud-native software, ensuring secure and continuously updated operations.
AI Analysis | Feedback
Manhattan Associates (MANH) sells primarily to other companies (B2B). It provides supply chain and omnichannel commerce software solutions, including warehouse management systems (WMS), transportation management systems (TMS), order management systems (OMS), and point of sale (POS) solutions.
Its major customers are typically large retailers, wholesalers, manufacturers, and third-party logistics (3PL) providers across various industries globally. While specific customer relationships are often confidential, publicly available information and case studies highlight relationships with companies such as:
- Kroger (NYSE: KR)
- Lowe's Companies (NYSE: LOW)
- American Eagle Outfitters (NYSE: AEO)
- Columbia Sportswear Company (NASDAQ: COLM)
- Urban Outfitters, Inc. (NASDAQ: URBN)
- DSV A/S (Nasdaq Copenhagen: DSV.CO) - A global transport and logistics company.
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- Amazon Web Services (parent company: Amazon.com, Inc., NASDAQ: AMZN)
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Eric Clark, President and Chief Executive Officer
Eric Clark was appointed President and Chief Executive Officer of Manhattan Associates in February 2025. Prior to joining Manhattan Associates, he served as the Chief Executive Officer of NTT DATA North America and Chief Digital and Strategy Officer of NTT DATA Services. His career also includes various global leadership roles at companies such as ServiceNow, Dell, Hewlett Packard Enterprise, Arthur Andersen Business Consulting, Ernst & Young, and Bank of America.
Dennis Story, Executive Vice President and Chief Financial Officer
Dennis Story has served as the Chief Financial Officer, Executive Vice President, and Treasurer of Manhattan Associates since 2016. Before this role, he was the Senior Vice President and Treasurer for the company. His previous experience includes serving as Senior Vice President of Finance for Certegy Inc. from 2004 to 2006, and Chief Financial Officer of NewRoads Inc. from 2003 to 2004. Additionally, he was the Senior Vice President and Corporate Controller of Equifax Inc. from 2000 to 2003.
Eddie Capel, Executive Chairman of the Board
Eddie Capel serves as the Executive Chairman of the Board at Manhattan Associates. He previously held the position of President and Chief Executive Officer from 2013 until his retirement from the role in February 2025. Capel joined Manhattan Associates in June 2000, and his roles included Executive Vice President and Chief Operating Officer. Before Manhattan Associates, he was the Chief Operations Officer and Vice President of Operations at Real Time Solutions (RTS), where he supported the supply chain strategies of major companies like Walmart, Amazon.com, and J.C. Penney. He also served as Director of Operations at Unarco Automation and as a project manager and system designer for ABB Robotics in the United Kingdom.
Sanjeev Siotia, Executive Vice President and Chief Technology Officer
Sanjeev Siotia has been the Chief Technology Officer and Senior Vice President of Manhattan Associates since 2014. Prior to joining Manhattan Associates, he was an entrepreneur-in-residence for Charles River Ventures (CRV) and held executive positions at IBM, Sterling Commerce, and Yantra Corp.
Ann Sung Ruckstuhl, Senior Vice President and Chief Marketing Officer
Ann Sung Ruckstuhl serves as the Senior Vice President and Chief Marketing Officer at Manhattan Associates, overseeing the company's global marketing strategies and initiatives. Her professional background includes leadership roles such as Senior Vice President and Chief Marketing Officer at Unisys, and senior executive positions at SOASTA, LiveOps, Symantec, Sybase, eBay, and Hewlett-Packard.
AI Analysis | Feedback
The key risks to Manhattan Associates' (MANH) business are primarily centered around ongoing legal challenges, intense market competition coupled with rapid technological advancements, and the unpredictable nature of economic and market fluctuations impacting customer renewals and overall revenue growth.
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Legal Challenges and Securities Fraud Investigation: Manhattan Associates has recently faced multiple securities fraud investigations and a shareholder class action lawsuit. These legal issues stem from allegations that the company misrepresented the health and growth prospects of its Services segment, particularly between late 2024 and early 2025. This has reportedly led to a significant erosion of approximately $4 billion in the company's market capitalization. The potential for substantial financial penalties and reputational damage remains a critical uncertainty for investors.
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Intense Competition and Rapid Technological Change: The company operates in a highly competitive software industry, contending with major ERP vendors like Oracle and SAP, as well as specialized supply chain and omnichannel solution providers. A continuous threat to Manhattan Associates is the rapid pace of technological innovation, requiring constant investment in product development to maintain relevance. Failure to keep up with these advancements could lead to product obsolescence, increased price competition, fewer customer orders, and ultimately, a loss of market share.
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Economic and Market Fluctuations, Customer Renewal Risk, and Slower Revenue Growth: Global economic cycles and capital market fluctuations pose a significant threat, particularly given Manhattan Associates' substantial presence in the retail sector. Economic downturns or market disruptions can lead to delayed investments in its solutions, negatively impacting revenue and operations. Furthermore, the company is entering a period with a major customer renewal cycle over the next 18 months. This, combined with macroeconomic volatility, customer budgetary caution, and longer implementation timelines for some deployments, contributes to challenges in revenue predictability and growth. The company's revenue growth has also been observed to lag behind that of its SaaS peers and broader US market forecasts, and its profit margins have shown some recent decline.
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The increasing prevalence and sophistication of highly integrated, AI-powered warehouse automation systems are an emerging threat. Companies such as Symbotic are deploying proprietary, AI-driven software that orchestrates their robotic hardware and manages inventory within fully automated warehouses. As these integrated automation vendors extend the capabilities of their embedded software to encompass broader warehouse management functions, they could reduce the reliance on standalone Warehouse Management Systems (WMS) like those offered by Manhattan Associates, potentially absorbing market share in increasingly automated logistics environments. This trend represents a shift towards integrated hardware and software solutions where operational intelligence is embedded closer to the physical execution layer, challenging traditional software-only WMS providers.
AI Analysis | Feedback
Manhattan Associates provides solutions across several key markets. The addressable market sizes for their main products and services are as follows:
-
Warehouse Management Systems (WMS):
The global Warehouse Management System (WMS) market was valued at approximately USD 2.88 billion in 2024 and is projected to reach USD 8.38 billion by 2030, growing at a CAGR of 19.9% from 2025 to 2030. Other estimates for the global WMS market include USD 4.74 billion in 2024, predicted to grow to USD 27.06 billion by 2034 at a CAGR of 19.03% from 2025. North America held a significant share of the global market in 2024, accounting for 37.13%. Europe also dominated the WMS market, accounting for over 30.8% of the global revenue share in 2024. The Asia Pacific region is expected to exhibit the fastest growth.
-
Supply Chain Planning (SCP):
The global Supply Chain Planning System of Record market was valued at USD 8.4 billion in 2024 and is projected to reach USD 25.6 billion by 2032, growing at a CAGR of 10.6% from 2026-2032.
For the broader Supply Chain Management (SCM) market, which encompasses planning, the global market size was estimated at USD 35.30 billion in 2025 and is forecasted to reach approximately USD 89.57 billion by 2034, with a CAGR of 10.92%. Another source estimates the global SCM market size to be USD 38.51 billion in 2025, growing to USD 58.42 billion by 2030 at a CAGR of 8.7%. North America held the largest market share in the global SCM market in 2024, at 39.34%. The Asia Pacific region is projected to experience the highest CAGR during the forecast period.
-
Omnichannel Commerce Solutions:
The global Omnichannel Retail Commerce Platform market was valued at USD 6.57 billion in 2024 and is expected to grow to USD 7.48 billion in 2025, reaching USD 12.74 billion by 2029 with a CAGR of 14.3%. Another report indicates the global omnichannel commerce software market size was valued at approximately USD 4.5 billion in 2023 and is projected to reach USD 12.8 billion by 2032, with a CAGR of 12.3%. The Omnichannel Retail Commerce Market in the U.S. alone is estimated to reach USD 6.39 billion in 2024 and USD 26.06 billion by 2032, with a CAGR of 19.20%. North America was the largest region in the omnichannel retail commerce platform market in 2024. The Asia Pacific Omnichannel Retail Commerce Platform Market is expected to grow at the fastest CAGR from 2023 to 2032.
AI Analysis | Feedback
Manhattan Associates (MANH) is anticipated to drive future revenue growth over the next 2-3 years through several key strategies:
- Growth in Cloud Subscription Revenue: Manhattan Associates is experiencing significant momentum in its cloud offerings, with cloud subscription revenue consistently growing. For example, cloud revenue increased 33% in Q3 2024 and 21% in Q3 2025, serving as a primary driver of top-line performance. The company expects continued cloud revenue growth of 20% in 2026. This growth is further supported by a robust Remaining Performance Obligation (RPO), which was approximately $1.7 billion in Q3 2024 (up 27% year-over-year) and $2.1 billion in Q3 2025 (up 23% year-over-year), indicating strong demand for its cloud solutions.
- Expansion through New and Existing Customers, and On-Premise to Cloud Conversions: The company's record pipeline includes solid demand from both new and existing customers. Manhattan Associates is focused on adding new customers, cross-selling its unified product portfolio to existing clients, and actively converting its on-premise customer base to cloud solutions. This conversion momentum is rapidly expanding the cloud pipeline and driving both cloud and services revenue.
- Strategic Investments in Innovation and Product Development: Manhattan Associates continues to invest in innovation to drive sustainable long-term growth. The introduction and development of new solutions, such as Manhattan Active Supply Chain Planning, fully integrated into Manhattan's cloud platform, enhance operational visibility and efficiency. Furthermore, strong product updates and rollouts, including new capabilities in Manhattan Active Omni, are improving fulfillment performance. The company is making targeted investments to enhance its industry-leading solutions and increase the adoption of Manhattan Active solutions across its customer base. Early access programs for initiatives like Agentic AI agents have received positive feedback, with general availability targeted for early 2026.
- Leveraging a Strong Services Division: The global services teams continue to deliver significant revenue, with record revenue totaling $137 million in Q3 2024, up 7%, as cloud sales fuel services revenue growth. While there have been some instances of services revenue deferrals due to customer budgetary constraints, the consistent execution and services backlog are expected to drive a return to growth in services in 2026.
AI Analysis | Feedback
Share Repurchases
- Manhattan Associates repurchased approximately $166.0 million of its outstanding common stock in 2023.
- The company repurchased approximately $241.6 million of common stock in 2024.
- For the nine months ended September 30, 2025, Manhattan Associates repurchased approximately $199.5 million of common stock. The Board of Directors replenished the share repurchase authority to an aggregate of $100.0 million in October 2025.
Share Issuance
- Manhattan Associates uses cash for financing activities, which includes shares withheld for taxes due upon vesting of restricted stock.
- Excess tax benefits on the vesting of restricted stock were reported as $6.6 million in 2021, $7.6 million in 2022, and $6.8 million in 2023.
Capital Expenditures
- Capital expenditures totaled approximately $4.0 million in 2021, $6.6 million in 2022, and $4.7 million in 2023.
- For 2024, capital expenditures were approximately $8.7 million.
- For the nine months ended September 30, 2025, capital expenditures amounted to approximately $10.8 million. These expenditures are primarily focused on supporting company growth and funding investments in research and development for Unified Omnichannel Commerce and Digital Supply Chain solutions.
Latest Trefis Analyses
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Trade Ideas
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 01302026 | ROP | Roper Technologies | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -7.3% | -7.3% | -15.0% |
| 01302026 | TDC | Teradata | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 6.6% | 6.6% | -8.7% |
| 01302026 | CVLT | CommVault Systems | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 1.0% | 1.0% | -5.1% |
| 01302026 | NTNX | Nutanix | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -2.3% | -2.3% | -6.3% |
| 01302026 | FICO | Fair Isaac | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -11.1% | -11.1% | -16.1% |
| 07312025 | MANH | Manhattan Associates | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -29.1% | -38.4% | -40.8% |
| 01312025 | MANH | Manhattan Associates | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 2.9% | -27.6% | -31.0% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 103.92 |
| Mkt Cap | 12.3 |
| Rev LTM | 1,971 |
| Op Inc LTM | 428 |
| FCF LTM | 280 |
| FCF 3Y Avg | 377 |
| CFO LTM | 365 |
| CFO 3Y Avg | 399 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 11.2% |
| Rev Chg 3Y Avg | 13.2% |
| Rev Chg Q | 12.0% |
| QoQ Delta Rev Chg LTM | 2.9% |
| Op Mgn LTM | 27.9% |
| Op Mgn 3Y Avg | 26.6% |
| QoQ Delta Op Mgn LTM | 0.7% |
| CFO/Rev LTM | 33.6% |
| CFO/Rev 3Y Avg | 30.9% |
| FCF/Rev LTM | 25.7% |
| FCF/Rev 3Y Avg | 25.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 12.3 |
| P/S | 6.8 |
| P/EBIT | 24.3 |
| P/E | 32.7 |
| P/CFO | 21.2 |
| Total Yield | 3.5% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 2.7% |
| D/E | 0.0 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -15.5% |
| 3M Rtn | -19.1% |
| 6M Rtn | -34.1% |
| 12M Rtn | -16.7% |
| 3Y Rtn | 10.5% |
| 1M Excs Rtn | -14.5% |
| 3M Excs Rtn | -20.4% |
| 6M Excs Rtn | -39.7% |
| 12M Excs Rtn | -31.8% |
| 3Y Excs Rtn | -63.3% |
Comparison Analyses
Price Behavior
| Market Price | $139.61 | |
| Market Cap ($ Bil) | 8.4 | |
| First Trading Date | 04/23/1998 | |
| Distance from 52W High | -38.8% | |
| 50 Days | 200 Days | |
| DMA Price | $160.53 | $188.25 |
| DMA Trend | down | down |
| Distance from DMA | -13.0% | -25.8% |
| 3M | 1YR | |
| Volatility | 43.2% | 39.4% |
| Downside Capture | 283.09 | 160.87 |
| Upside Capture | 115.08 | 111.53 |
| Correlation (SPY) | 46.8% | 67.8% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.56 | 0.91 | 0.80 | 0.98 | 1.28 | 1.22 |
| Up Beta | 0.50 | 0.36 | 0.35 | 1.11 | 1.55 | 1.43 |
| Down Beta | 1.06 | 0.50 | 0.42 | 0.81 | 1.15 | 0.93 |
| Up Capture | 44% | 30% | 43% | 30% | 74% | 148% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 11 | 22 | 33 | 60 | 124 | 398 |
| Down Capture | 411% | 223% | 160% | 159% | 121% | 107% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 9 | 18 | 27 | 64 | 125 | 351 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MANH | |
|---|---|---|---|---|
| MANH | -22.6% | 39.4% | -0.56 | - |
| Sector ETF (XLK) | 24.1% | 27.5% | 0.77 | 63.5% |
| Equity (SPY) | 17.1% | 19.4% | 0.69 | 67.6% |
| Gold (GLD) | 79.3% | 25.7% | 2.25 | -8.9% |
| Commodities (DBC) | 10.9% | 16.8% | 0.45 | 12.7% |
| Real Estate (VNQ) | 6.6% | 16.6% | 0.21 | 54.1% |
| Bitcoin (BTCUSD) | -23.4% | 45.1% | -0.46 | 33.2% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MANH | |
|---|---|---|---|---|
| MANH | 0.9% | 37.9% | 0.12 | - |
| Sector ETF (XLK) | 16.6% | 24.8% | 0.60 | 59.8% |
| Equity (SPY) | 13.6% | 17.0% | 0.63 | 59.9% |
| Gold (GLD) | 23.6% | 17.2% | 1.12 | 2.0% |
| Commodities (DBC) | 10.8% | 19.0% | 0.45 | 7.4% |
| Real Estate (VNQ) | 5.3% | 18.8% | 0.19 | 42.3% |
| Bitcoin (BTCUSD) | 4.0% | 57.0% | 0.29 | 25.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MANH | |
|---|---|---|---|---|
| MANH | 10.0% | 39.3% | 0.37 | - |
| Sector ETF (XLK) | 22.7% | 24.2% | 0.86 | 57.4% |
| Equity (SPY) | 15.5% | 17.9% | 0.74 | 59.2% |
| Gold (GLD) | 15.1% | 15.6% | 0.81 | 2.4% |
| Commodities (DBC) | 8.5% | 17.6% | 0.40 | 16.5% |
| Real Estate (VNQ) | 6.6% | 20.7% | 0.28 | 46.7% |
| Bitcoin (BTCUSD) | 66.3% | 66.8% | 1.06 | 18.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 1/27/2026 | -5.1% | -20.1% | -17.7% |
| 10/21/2025 | -5.0% | -9.1% | -16.2% |
| 7/22/2025 | 7.4% | 11.2% | 4.6% |
| 4/22/2025 | 6.0% | 8.6% | 15.9% |
| 1/28/2025 | -24.5% | -33.4% | -40.6% |
| 10/22/2024 | -7.2% | -5.2% | -7.1% |
| 7/23/2024 | 10.5% | 12.8% | 15.7% |
| 4/23/2024 | -10.5% | -10.7% | -2.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 14 | 12 |
| # Negative | 11 | 11 | 13 |
| Median Positive | 7.8% | 10.2% | 13.8% |
| Median Negative | -5.8% | -10.7% | -7.3% |
| Max Positive | 17.9% | 28.9% | 41.7% |
| Max Negative | -24.5% | -33.4% | -40.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/04/2026 | 10-K |
| 09/30/2025 | 10/24/2025 | 10-Q |
| 06/30/2025 | 07/25/2025 | 10-Q |
| 03/31/2025 | 04/25/2025 | 10-Q |
| 12/31/2024 | 02/07/2025 | 10-K |
| 09/30/2024 | 10/25/2024 | 10-Q |
| 06/30/2024 | 07/26/2024 | 10-Q |
| 03/31/2024 | 04/26/2024 | 10-Q |
| 12/31/2023 | 02/06/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/28/2023 | 10-Q |
| 03/31/2023 | 04/28/2023 | 10-Q |
| 12/31/2022 | 02/06/2023 | 10-K |
| 09/30/2022 | 10/28/2022 | 10-Q |
| 06/30/2022 | 07/28/2022 | 10-Q |
| 03/31/2022 | 04/28/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Clark, Eric Andrew | President & CEO | Direct | Sell | 12012025 | 176.40 | 1,600 | 282,235 | 8,905,579 | Form |
| 2 | Gantt, James Stewart | EVP, Professional Services | Direct | Sell | 9022025 | 218.70 | 2,300 | 503,006 | 10,752,946 | Form |
| 3 | Capel, Eddie | Executive Chairman | Direct | Sell | 7312025 | 222.18 | 37,342 | 8,296,577 | 36,212,375 | Form |
| 4 | Hollembaek, Linda T | Direct | Sell | 7312025 | 221.53 | 2,024 | 448,380 | 2,637,776 | Form | |
| 5 | Gantt, James Stewart | EVP, Professional Services | Direct | Sell | 7292025 | 220.33 | 2,300 | 506,759 | 10,721,258 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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