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MANHATTAN ASSOCIATES INC

MANH Clue Score73
United States Fiscal year ends December CIK 0001056696
$204.89 -0.91% Close, 9 Oct 2026
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Price $204.89 +34.35% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue604.6Operating income194.3Net income124.2EPS, diluted1.72Fiscal year 2017Revenue594.6 −1.6%Operating income185.6Net income116.5 −6.2%EPS, diluted1.68 −2.3%Fiscal year 2018Revenue559.2 −6.0%Operating income133.9Net income104.7 −10.1%EPS, diluted1.58 −6.0%Fiscal year 2019Revenue617.9 +10.5%Operating income115.9Net income85.8 −18.1%EPS, diluted1.32 −16.5%Fiscal year 2020Revenue586.4 −5.1%Operating income114.1Net income87.2 +1.7%EPS, diluted1.36 +3.0%Fiscal year 2021Revenue663.6 +13.2%Operating income134.3Net income110.5 +26.6%EPS, diluted1.72 +26.5%Fiscal year 2022Revenue767.1 +15.6%Operating income152.7Net income129.0 +16.7%EPS, diluted2.03 +18.0%Fiscal year 2023Revenue928.7 +21.1%Operating income209.9Net income176.6 +36.9%EPS, diluted2.82 +38.9%Fiscal year 2024Revenue1,042.4 +12.2%Operating income261.6Net income218.4 +23.7%EPS, diluted3.51 +24.5%Fiscal year 2025Revenue1,081.4 +3.7%Operating income279.8Net income219.9 +0.7%EPS, diluted3.60 +2.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 604.6 594.6 559.2 617.9 586.4 663.6 767.1 928.7 1,042.4 1,081.4
Growth −1.6% −6.0% +10.5% −5.1% +13.2% +15.6% +21.1% +12.2% +3.7%
Operating income 194.3 185.6 133.9 115.9 114.1 134.3 152.7 209.9 261.6 279.8
Net income 124.2 116.5 104.7 85.8 87.2 110.5 129.0 176.6 218.4 219.9
Growth −6.2% −10.1% −18.1% +1.7% +26.6% +16.7% +36.9% +23.7% +0.7%
EPS, diluted 1.72 1.68 1.58 1.32 1.36 1.72 2.03 2.82 3.51 3.60
Growth −2.3% −6.0% −16.5% +3.0% +26.5% +18.0% +38.9% +24.5% +2.6%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin32.1%Net margin20.5%Free cash flow margin21.9%Fiscal year 2017Operating margin31.2%Net margin19.6%Free cash flow margin26.6%Fiscal year 2018Operating margin23.9%Net margin18.7%Free cash flow margin23.3%Fiscal year 2019Operating margin18.8%Net margin13.9%Free cash flow margin21.3%Fiscal year 2020Operating margin19.5%Net margin14.9%Free cash flow margin23.6%Fiscal year 2021Operating margin20.2%Net margin16.6%Free cash flow margin27.3%Fiscal year 2022Operating margin19.9%Net margin16.8%Free cash flow margin22.6%Fiscal year 2023Operating margin22.6%Net margin19.0%Free cash flow margin26.0%Fiscal year 2024Operating margin25.1%Net margin20.9%Free cash flow margin27.5%Fiscal year 2025Operating margin25.9%Net margin20.3%Free cash flow margin34.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 32.1% 31.2% 23.9% 18.8% 19.5% 20.2% 19.9% 22.6% 25.1% 25.9%
Net margin 20.5% 19.6% 18.7% 13.9% 14.9% 16.6% 16.8% 19.0% 20.9% 20.3%
Free cash flow margin 21.9% 26.6% 23.3% 21.3% 23.6% 27.3% 22.6% 26.0% 27.5% 34.6%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow139.3Capital expenditure−6.8Free cash flow132.5Buybacks−167.9Fiscal year 2017Operating cash flow164.1Capital expenditure−6.2Free cash flow157.9 +19.1%Buybacks−131.7Fiscal year 2018Operating cash flow137.3Capital expenditure−7.3Free cash flow130.0 −17.6%Buybacks−149.3Fiscal year 2019Operating cash flow146.9Capital expenditure−15.2Free cash flow131.7 +1.3%Buybacks−121.5Fiscal year 2020Operating cash flow140.9Capital expenditure−2.7Free cash flow138.2 +4.9%Buybacks−43.6Fiscal year 2021Operating cash flow185.2Capital expenditure−4.0Free cash flow181.2 +31.1%Buybacks−120.4Fiscal year 2022Operating cash flow179.6Capital expenditure−6.6Free cash flow173.0 −4.5%Buybacks−204.5Fiscal year 2023Operating cash flow246.2Capital expenditure−4.7Free cash flow241.5 +39.6%Buybacks−196.0Fiscal year 2024Operating cash flow295.0Capital expenditure−8.7Free cash flow286.3 +18.6%Buybacks−286.4Fiscal year 2025Operating cash flow389.5Capital expenditure−15.5Free cash flow374.0 +30.6%Buybacks−315.2
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 139.3 164.1 137.3 146.9 140.9 185.2 179.6 246.2 295.0 389.5
Capital expenditure −6.8 −6.2 −7.3 −15.2 −2.7 −4.0 −6.6 −4.7 −8.7 −15.5
Free cash flow 132.5 157.9 130.0 131.7 138.2 181.2 173.0 241.5 286.3 374.0
Growth +19.1% −17.6% +1.3% +4.9% +31.1% −4.5% +39.6% +18.6% +30.6%
Buybacks −167.9 −131.7 −149.3 −121.5 −43.6 −120.4 −204.5 −196.0 −286.4 −315.2

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2016Cash95.6Shareholders’ equity169.4Fiscal year 2017Cash125.5Shareholders’ equity175.0Fiscal year 2018Cash99.1Shareholders’ equity147.1Fiscal year 2019Cash110.7Shareholders’ equity142.3Fiscal year 2020Cash204.7Shareholders’ equity218.9Fiscal year 2021Cash263.7Shareholders’ equity250.6Fiscal year 2022Cash225.5Shareholders’ equity226.8Fiscal year 2023Cash270.7Shareholders’ equity278.3Fiscal year 2024Cash266.2Shareholders’ equity299.1Fiscal year 2025Cash328.7Shareholders’ equity314.8
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 95.6 125.5 99.1 110.7 204.7 263.7 225.5 270.7 266.2 328.7
Shareholders’ equity 169.4 175.0 147.1 142.3 218.9 250.6 226.8 278.3 299.1 314.8

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
604.6 594.6 559.2 617.9 586.4 663.6 767.1 928.7 1,042.4 1,081.4
Growth −1.6% −6.0% +10.5% −5.1% +13.2% +15.6% +21.1% +12.2% +3.7%
249.9 245.7 240.9 285.0 269.9 297.8 358.2 430.6 471.0 472.3
54.7 57.7 71.9 87.6 84.3 97.6 111.9 126.8 137.7 145.1
48.3 46.1 52.6 64.6 61.4 68.1 73.1 81.2 89.8 93.8
194.3 185.6 133.9 115.9 114.1 134.3 152.7 209.9 261.6 279.8
Growth −4.5% −27.9% −13.4% −1.6% +17.8% +13.7% +37.4% +24.6% +7.0%
196.1 184.8 136.2 116.1 113.8 134.1 158.1 213.7 266.8 285.9
71.9 68.4 31.5 30.3 26.5 23.6 29.2 37.1 48.5 65.9
124.2 116.5 104.7 85.8 87.2 110.5 129.0 176.6 218.4 219.9
Growth −6.2% −10.1% −18.1% +1.7% +26.6% +16.7% +36.9% +23.7% +0.7%
Per share
1.73 1.68 1.58 1.33 1.37 1.74 2.05 2.86 3.56 3.64
1.72 1.68 1.58 1.32 1.36 1.72 2.03 2.82 3.51 3.60
Growth −2.3% −6.0% −16.5% +3.0% +26.5% +18.0% +38.9% +24.5% +2.6%
71.7 69.2 66.2 64.4 63.5 63.4 62.8 61.8 61.3 60.5
72.1 69.4 66.4 65.1 64.3 64.3 63.4 62.6 62.2 61.1
Growth −3.7% −4.3% −2.0% −1.2% −0.0% −1.4% −1.3% −0.7% −1.8%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 13.0% a year over five years, and earnings per share grew 21.5% a year.
  • The diluted share count fell 5.1% in five years, so buybacks did some of the work per share.
  • Operating margin is up 6.4 points on five years ago, at 25.9%.
  • Profitable in every one of the 10 years on file.