Manhattan Associates Inc (MANH) Fair Value & Analysis
Technology · US · Market cap $9.7B · ISIN US5627501092
What is Manhattan Associates Inc really worth?
Manhattan Associates Inc
MANH · US
A strong business, but trading 143% above our fair value of $91.60.
Strengths
Risks
Fair value as of: Sep 1, 2026
From 24 valuation models · updated 4 days ago
Share price +17.4% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- A high-quality business (quality 83/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case ($113.58). The favourable scenario is already priced in.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 1, 2026.
How to read this chart
60‑month range $108.50 – $309.78 · fair‑value band $69.61 – $113.58 · the $222.35 price screens above the $91.60 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 1, 2026.
Analysis
Manhattan Associates Inc (MANH) currently trades at $222.35, while our model-based Fair Value estimate is $91.60, implying the stock looks roughly 142.7% overvalued today. The Quality Score stands at 83/100 (high quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of $112.68 per share, and 0 of the 24 models we run sit above the $222.35 price. Bear case: the Earnings-Based group reads lowest at $38.10, and 24 of the 24 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Manhattan Associates Inc generated revenue of $1.1B at a net margin of 19.7%. Revenue grew 7.4% year over year. It earns a return on equity of 96.2%. The balance sheet holds a net cash position of $216M. Fundamentals as of Sep 1, 2026
Our scenario range runs from $69.61 (bear case) to $113.58 (bull case); at $222.35, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 10% below its 52-week high and 87% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −38% fair-value upside, at −59%, MANH screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $2.42 per share, which is 2.6 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 24 models by family
Widest divergence: DCF Models ($112.68) versus Asset-Based ($3.56). Highest evidence: FCF DCF (79).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 1, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 83 · Market factors (momentum, volatility) 63
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Manhattan Associates, Inc. develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations.
Full company description
Manhattan Associates, Inc. develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers warehouse management solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and transportation management solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, call center, POS, and customer engagement tools for enterprises and stores. The company also provides demand forecasting and replenishment, allocation, and unified business planning; technology platform including Manhattan Active Platform solutions, a cloud-native product designed to provide version-less product access; maintenance services, which offers on-premises software licensees with software upgrades for additional or improved functionality and technological advances; and professional services, such as solutions planning and implementation, and related consulting services. In addition, it provides training and change management services; and resells computer hardware, radio frequency terminal networks, radio frequency identification chip readers, bar code printers and scanners, and other peripherals. The company offers products through direct sales personnel and partnership agreements with various organizations. It serves retail, consumer goods, food and grocery, logistics service providers, industrial and wholesale, high technology and electronics, life sciences, and government industries. The company operates in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Manhattan Associates, Inc. was founded in 1990 and is headquartered in Atlanta, Georgia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Manhattan Associates Inc reported revenue of $1.1B in FY2025 versus $664M in FY2021, a compound +13.0%/yr. Reported net income was $220M in FY2025, compounding +18.8%/yr from FY2021.
of which total revenue +7.1 % · buybacks/dilution +2.0 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
MANH screens 143% overvalued. Compare with SAP SE →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Manhattan Associates, Agilysys, Guidewire Software, Pegasystems, and Teradata Stocks Trade Up, What You Need To Know
- Why Is Manhattan Associates (MANH) Up 5.8% Since Last Earnings Report?
- Wix, AppLovin, Manhattan Associates, Strategy, and Oracle Shares Skyrocket, What You Need To Know
- MANH Investor News: Rosen Law Firm Announces Investigation of Breaches of Fiduciary Duties by the Directors and Officers of Manhattan Associ
Peer Group
Software - Application · 691 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Software - Application median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 46/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Sep 1, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| SAP SE SAP | €191.32 | €169.59 | −11% |
| Shopify Inc SHOP | C$209.78 | C$28.76 | −86% |
| Uber Technologies, Inc UBER | $78.82 | $43.66 | −45% |
| Salesforce, Inc CRM | $252.05 | $249.28 | −1% |
| ServiceNow, Inc NOW | $138.43 | $43.73 | −68% |
| Cadence Design Systems, Inc CDNS | $340.39 | $112.57 | −67% |
| Snowflake Inc SNOW | $329.11 | $42.27 | −87% |
| Adobe Inc ADBE | $289.15 | $454.04 | +57% |
| Automatic Data Processing, Inc ADP | $284.68 | $177.51 | −38% |
| Intuit Inc INTU | $348.00 | $363.46 | +4% |
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