MANH
MANHATTAN ASSOCIATES INC·Technology·Services-Prepackaged Software· 4,370
Data as of Dec 31, 2025
Good Fair Concern Neutral
Composite Scores
Overall Health
70/100
Weighted composite of profitability, quality, and safety
Quality Focus
65/100
Earnings quality + cash conversion + capital efficiency
Safety Score
71/100
Balance sheet strength + debt safety + liquidity
Dilution Score
71/100
Higher = less shareholder dilution from SBC
Capital Allocation & Returns
ROIC
70.2%
>15% = high quality
Return on Invested Capital (NOPAT / IC)
ROE
69.9%
>15% = strong
Net Income / Shareholders' Equity
ROA
26.2%
>8% = efficient
Net Income / Total Assets
Reinvestment Rate
127.5%
(CapEx + R&D) / Revenue
Balance Sheet Strength
Net Debt / EBITDA
-1.15x
<2x = conservative
(Total Debt - Cash) / EBITDA
Current Ratio
1.28x
>1.5x = healthy
Current Assets / Current Liabilities
Quick Ratio
1.28x
>1x = liquid
(Current Assets - Inventory) / Current Liab.
Cash Ratio
0.72x
Cash / Current Liabilities
Debt / Equity
0.00x
<0.5x = conservative
Total Debt / Shareholders' Equity
FCF Yield
118.8%
>5% = attractive
FCF / Market Cap
Earnings Quality
Accruals Ratio
-40.4%
Lower is better; >10% = flag
(Net Income - OCF) / Total Assets
Sloan Ratio
-49.5%
Cash vs accrual gap
Measures discrepancy between cash and accrual earnings
OCF / Net Income
177.1%
>100% = strong conversion
Operating CF / Net Income (%)
FCF Margin
34.6%
>15% = excellent
Free Cash Flow / Revenue
Profitability
Gross Margin
25.9%
Gross Profit / Revenue
Operating Margin
25.9%
Operating Income / Revenue
Net Margin
20.3%
Net Income / Revenue
EBITDA Margin
0.0%
EBITDA / Revenue
Owner Economics & Governance
Shareholder Yield
—
Div + Buyback yield
(Dividends + Buybacks) / Market Cap
SBC / Revenue
10.3%
<3% = reasonable
Stock-Based Compensation / Revenue
R&D / Revenue
13.4%
Investment intensity
Research & Development / Revenue
Piotroski F-Score
6/9
≥7 = strong
9-point financial strength (profitability, leverage, efficiency)
Beneish M-Score
-3.41
<-2.22 = unlikely
Probability of earnings manipulation; <-2.22 = unlikely
Altman Z-Score
5.30
>3 = safe zone
Bankruptcy risk; >3=safe, 1.8-3=grey, <1.8=distress
Fundamental Beta
1.01
Above Market
0.11.02.5
P57
percentile
-0.129
Earnings Vol
-0.052
Leverage
-0.039
Op. Leverage
+0.146
Size
+0.040
Dividend
+0.039
Growth
+0.026
Liquidity
-0.021
Cyclicality
Fundamental beta derived from 8 accounting-based risk factors (Beaver-Kettler-Scholes framework). β > 1 = riskier than market average. Positive contributions increase systematic risk exposure.
Historical Metrics Explorer
10 periods · 10-K
Income:
Margins:
Returns:
Cash Flow:
Balance Sheet:
Quality:
Current
$1.1B
Average
$745M
High
$1.1B
Low
$559M
Change
+78.9%
Revenue · Annual
2016-12 (10-K)
$605M
2017-12 (10-K)
$595M
2018-12 (10-K)
$559M
2019-12 (10-K)
$618M
2020-12 (10-K)
$586M
2021-12 (10-K)
$664M
2022-12 (10-K)
$767M
2023-12 (10-K)
$929M
2024-12 (10-K)
$1.0B
2025-12 (10-K)
$1.1B
2016-122021-122025-12
Avg: $745M