MANHNasdaqServices-Prepackaged SoftwareFiscal year ends December 31
MANHATTAN ASSOCIATES INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 31, 2026
$225.43+3.26 (+1.47%)
Close on Oct 19, 2026
- Market cap
- $13.30B
- P/E (TTM)
- 64.6
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
56.3%+2.3 pts over 5 years
Operating margin
25.9%+6.4 pts over 5 years
Net margin
20.3%+5.5 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +3.7% | +12.1% | +13.0% | +6.9% | |
| Gross profit | +6.6% | +14.2% | +14.0% | +6.6% | |
| Operating income | +7.0% | +22.4% | +19.7% | +5.7% | |
| Net income | +0.7% | +19.5% | +20.3% | +7.8% | |
| EPS, diluted | +2.6% | +21.0% | +21.5% | +9.9% | |
| Free cash flow | +30.6% | +29.3% | +22.0% | +13.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 68.1% | 48.3% | 71.7% | |
| Return on assets | 39.5% | 20.8% | 27.5% | |
| Current ratio | 1.76 | 1.70 | 1.28 | |
| Capex to revenue | 1.1% | 0.5% | 1.4% | |
| Diluted shares | 72M | 64M | 61M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Manhattan Associates generated $1.30B from operations and spent $1.16B on capital expenditure, dividends and share buybacks. 3% of that went back into the business.
Generated
$1.30B
Used
$1.16B
Capital expenditure$39.47M3%Dividends$00%Share buybacks$1.12B97%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin20.3%
×Asset turnover1.35×
×Equity multiplier2.60×
=Return on equity, FY202571.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 20.3% | 1.35× | 2.60× | 71.7% |
| FY2024 | 20.9% | 1.46× | 2.48× | 75.6% |
| FY2023 | 19.0% | 1.49× | 2.46× | 69.9% |
| FY2022 | 16.8% | 1.38× | 2.32× | 54.0% |
| FY2021 | 16.6% | 1.32× | 2.14× | 47.1% |
| FY2020 | 14.9% | 1.40× | 2.32× | 48.3% |
| FY2019 | 13.9% | 1.82× | 2.35× | 59.3% |
| FY2018 | 18.7% | 1.80× | 1.93× | 65.0% |
| FY2017 | 19.6% | 1.94× | 1.78× | 67.7% |
| FY2016 | 20.5% | 1.92× | 1.73× | 68.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$219.95M
- Cash generatingOperating cash flow above zero$389.47M
- Return on assets improvedROA up on the prior year32.4% → 29.0%
- Earnings backed by cashOperating cash flow above net income$389.47M vs $219.95M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.26 → 1.28
- No dilutionShare count did not rise62M → 61M
- Gross margin improvedGross margin up on the prior year54.82% → 56.32%
- More efficientAsset turnover rose1.55 → 1.43