Manhattan Associates, Inc (MANH) Fair Value & Analysis
Technology · US · Market cap $9.7B
Manhattan Associates, Inc
MANH · US
Fair value as of: Jul 20, 2026
From 24 valuation models · updated 18 days ago
Share price +20.5% over the past month.
A solid business, but screening 65% overvalued on our models.
What matters now
- A high-quality business (quality 72/100), 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 ($83.05). 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 Jul 20, 2026.
How to read this chart
60‑month range $108.50 – $309.78 · fair‑value band $51.29 – $83.05 · the $190.63 price screens above the $67.17 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.
Analysis
Manhattan Associates, Inc (MANH) currently trades at $190.63, while our model-based Fair Value estimate is $67.17, implying the stock looks roughly 64.8% overvalued today. We read business quality at 72/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: 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 Jul 20, 2026
Our scenario range runs from $51.29 (bear case) to $83.05 (bull case); at $190.63, 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 23% below its 52-week high and 60% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at -65%, MANH screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.
All 24 models by family
Widest divergence: DCF Models ($92.26) versus Asset-Based ($3.56). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 83 · Market factors (momentum, volatility) 48
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.
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.
MANH screens 65% overvalued. Compare with SAP SE →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- MANH Investor News: Rosen Law Firm Announces Investigation of Breaches of Fiduciary Duties by the Directors and Officers of Manhattan Associ
- Why Manhattan Associates (MANH) Stock Is Up Today
- Why Manhattan Associates (MANH) Is Up 36.8% After Raising 2026 Guidance On Cloud And AI Momentum
- Manhattan Associates (MANH) Stock May Trade At A 20% Discount Following Sightline Launch
Peer Group
Software - Application · 709 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
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.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| SAP SE SAPS | C$12.69 | C$16.26 | +28% |
| Shopify Inc SHOP | C$173.23 | C$20.54 | -88% |
| Uber Technologies, Inc UBER | $72.67 | $51.11 | -30% |
| Salesforce, Inc CRM | $170.77 | $182.10 | +7% |
| ServiceNow, Inc NOW | $107.71 | $33.12 | -69% |
| Cadence Design Systems, Inc CDNS | $384.17 | $80.41 | -79% |
| Snowflake Inc SNOW | $271.87 | $34.04 | -87% |
| Adobe Inc ADBE | $230.61 | $379.48 | +65% |
| Automatic Data Processing, Inc ADP | $241.92 | $177.51 | -27% |
| Intuit Inc INTU | $291.09 | $258.69 | -11% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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