Manhattan Associates Inc. Common Stock (MANH)

FairStock Score: 56/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I ask whether a good business is available at a sensible price. Manhattan Associates appears to be a good business: it sells mission-critical supply-chain, warehouse, inventory, and omni-channel software. The returns are exceptional — ROE of 96.38% and ROCE of 24.45%, both FairStock calculations — and the balance sheet is conservative with a D/E of 0.34. Its Piotroski F-Score is 7/9 and Altman Z-Score is 15.55, suggesting financial strength. The FairStock Score is 56/100. It generated $399.2M of trailing free cash flow, a 3.1% FCF yield at the 2026-10-13 close. The problem is price and momentum. At $222.71, the FairStock-calculated P/E is 63.81, P/B is 82.49, and EV/EBITDA is 44.48. The Graham Number is $14.56, leaving a margin of safety of -1429.60%. I see no bargain; the price already assumes much continued success. Meanwhile, current profits are moving backward. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $297.8M and net income was $50.4M. In fiscal Q2 2025, revenue was $272.4M and net income was $56.8M. Revenue rose about 9.3%, but net income fell about 11.3%, and diluted EPS slipped to $0.85 from $0.93. FY2025 net income was $219.9M versus $218.4M in FY2024 — essentially flat despite revenue growth from $1.0B to $1.1B. The given Lynch category is FAST GROWER, based on 5-year profit growth of 20.3% and revenue growth of 13.0%, but the latest numbers show deceleration. This is a fine enterprise, but the stock is not cheap.

In plain English: Manhattan Associates makes software that helps companies run warehouses, track inventory, and fulfill orders across stores and online. The company is very profitable and generates cash, but profits recently slipped even as sales grew. At $222.71, the stock looks expensive compared with its earnings and cash flow.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer