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MANH

Manhattan Associates, Inc.

MANH

Manhattan Associates, Inc. • NASDAQ
$176.45 ▲ 0.23% (+0.40)
Market Cap $10.63 B
52w High $312.60
52w Low $140.81
Dividend Yield 0%
P/E 50.27
Volume 153.47K
Outstanding Shares 60.26M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $275.795M ▲ $78.495M ▼ $58.633M ▲ 21.26% ▲ $0.97 ▲ $80.092M ▲
Q2-2025 $272.421M ▲ $80.826M ▲ $56.78M ▲ 20.843% ▲ $0.94 ▲ $76.087M ▲
Q1-2025 $262.787M ▲ $80.578M ▲ $52.582M ▲ 20.009% ▲ $0.86 ▲ $66.05M ▲
Q4-2024 $255.801M ▼ $80.49M ▲ $48.016M ▼ 18.771% ▼ $0.79 ▼ $62.319M ▼
Q3-2024 $266.681M $71.243M $63.781M 23.917% $1.04 $76.778M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $263.555M ▲ $768.823M ▲ $459.607M ▼ $309.216M ▲
Q2-2025 $230.593M ▲ $744.684M ▲ $465.925M ▲ $278.759M ▲
Q1-2025 $205.873M ▼ $708.221M ▼ $463.126M ▲ $245.095M ▼
Q4-2024 $266.23M ▲ $757.551M ▲ $458.425M ▲ $299.126M ▲
Q3-2024 $214.952M $698.14M $420.189M $277.951M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $58.633M ▲ $93.11M ▲ $-5.928M ▼ $-51.549M ▼ $32.962M ▲ $87.182M ▲
Q2-2025 $56.78M ▲ $74.05M ▼ $-3.98M ▼ $-50.191M ▲ $24.72M ▲ $70.07M ▼
Q1-2025 $52.582M ▲ $75.26M ▼ $-891K ▲ $-136.447M ▼ $-60.357M ▼ $74.369M ▼
Q4-2024 $48.016M ▼ $104.704M ▲ $-3.128M ▼ $-45.216M ▲ $51.278M ▲ $101.576M ▲
Q3-2024 $63.781M $62.299M $-1.009M $-51.604M $12.243M $61.29M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Cloud Subscriptions
Cloud Subscriptions
 $90.00M ▲$90.00M ▲$100.00M ▲$100.00M ▲
Hardware
Hardware
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲
License and Maintenance
License and Maintenance
 $10.00M ▲$10.00M ▲$0 ▼$0 ▲
Maintenance
Maintenance
 $30.00M ▲$30.00M ▲$40.00M ▲$30.00M ▼
Service Other
Service Other
 $120.00M ▲$120.00M ▲$130.00M ▲$130.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Manhattan Associates has shown a clear pattern of steady, healthy growth over the past five years. Revenue has increased each year, and profits have grown even faster than sales, suggesting the business is scaling well. Profit margins have widened, meaning the company is keeping more of each dollar of revenue as earnings. Earnings per share have climbed strongly, pointing to both operational improvement and good cost control. Overall, the income statement reflects a mature software business with consistent top-line growth and improving profitability over time.

Balance Sheet

Balance Sheet The balance sheet looks conservative and resilient. Total assets have grown gradually, with cash making up a meaningful portion, giving the company financial flexibility. Debt levels are quite low relative to the size of the business, which reduces financial risk. Shareholders’ equity has been rising, indicating that the company is building value over time rather than relying on heavy borrowing. In simple terms, Manhattan runs with a strong, cash-rich, and lightly leveraged balance sheet.

Cash Flow

Cash Flow Cash generation is a clear strength. Operating cash flow has increased steadily and closely tracks or exceeds accounting profits, which suggests earnings quality is solid. Free cash flow is strong and growing, with only modest spending on capital assets, typical for a software company. The business converts a large share of its revenue into actual cash, giving it room to fund R&D, invest in growth initiatives, or strengthen the balance sheet without stretching its finances.

Competitive Edge

Competitive Edge Manhattan appears to occupy a strong niche in supply chain and omnichannel commerce software. Its focus and depth in this domain help it compete effectively against larger, more generalist software vendors. Customers often rely on Manhattan’s systems for core warehouse, transport, and order management operations, which creates high switching costs and long-lasting relationships. Its long history and specialized expertise act as important intangible assets, contributing to what many see as a durable and widening competitive moat.

Innovation and R&D

Innovation and R&D Innovation is clearly a central pillar of Manhattan’s strategy. The company has built a unified, cloud-native platform that ties together warehouse, transportation, labor, planning, and omnichannel commerce into one environment, reducing complexity for customers. It is steadily increasing R&D investment and is early in embedding artificial intelligence and machine learning across its products, including new “agentic AI” capabilities that aim to automate complex decisions. Frequent, seamless cloud updates and a platform approach give it a strong foundation to keep expanding functionality and defending its lead in supply chain software.

Summary

Manhattan Associates combines steady financial performance with a focused, high-value product strategy. Revenue and profits have risen consistently, margins have expanded, and cash flows are strong, all supported by a conservative balance sheet with ample cash and little debt. Competitively, the firm benefits from deep specialization, sticky customer relationships, and a modern, unified cloud platform. Its ongoing push into AI and continuous product innovation strengthens its long-term positioning, though continued execution on its cloud and AI roadmap will be key to sustaining this momentum.

NEWS

November 19, 2025 · 3:00 AM UTC

Pacsun Successfully Implements Manhattan Active® Point of Sale, Unifying Commerce and Cutting Checkout Times

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November 13, 2025 · 8:30 AM UTC

Pacsun Successfully Implements Manhattan Active® Point of Sale, Unifying Commerce and Cutting Checkout Times

Read more

October 30, 2025 · 4:00 AM UTC

Manhattan Associates Announces Appointment of Greg Betz As Chief Operating Officer

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October 28, 2025 · 8:30 AM UTC

Manhattan Associates Achieves FedRAMP Authorization with FEMA, Expanding Secure Cloud Offerings for Government Agencies

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October 21, 2025 · 4:05 PM UTC

Manhattan Associates Announces Appointment of Greg Betz as Chief Operating Officer

Read more