Manhattan Associates Valuation
Is MANH * undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
1/6Valuation Score 1/6
Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast
Share Price vs Fair Value
What is the Fair Price of MANH * when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: MANH * (MX$5571.43) is trading above our estimate of fair value (MX$3715.29)
Significantly Below Fair Value: MANH * is trading above our estimate of fair value.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for MANH *?
Key metric: As MANH * is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.
| What is MANH *'s PE Ratio? | |
|---|---|
| PE Ratio | 78.2x |
| Earnings | US$219.08m |
| Market Cap | US$17.13b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 16.6x |
| Enterprise Value/EBITDA | 63.8x |
| PEG Ratio | 6.9x |
Price to Earnings Ratio vs Peers
How does MANH *'s PE Ratio compare to its peers?
| Company | Forward PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 88.2x | ||
DOCU DocuSign | 17.1x | -46.3% | US$16.9b |
XRO Xero | 137.8x | 26.4% | AU$26.4b |
DT Dynatrace | 101.4x | 21.7% | US$16.6b |
688111 Beijing Kingsoft Office Software | 96.5x | 19.3% | CN¥141.3b |
MANH * Manhattan Associates | 78.2x | 11.3% | Mex$17.1b |
Price-To-Earnings vs Peers: MANH * is good value based on its Price-To-Earnings Ratio (78.2x) compared to the peer average (87.9x).
Price to Earnings Ratio vs Industry
How does MANH *'s PE Ratio compare vs other companies in the Global Software Industry?
| 34 Companies | Price / Earnings | Estimated Growth | Market Cap |
|---|---|---|---|
| 34 Companies | Estimated Growth | Market Cap | |
|---|---|---|---|
Price-To-Earnings vs Industry: MANH * is expensive based on its Price-To-Earnings Ratio (78.2x) compared to the Global Software industry average (32x).
Price to Earnings Ratio vs Fair Ratio
What is MANH *'s PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 78.2x |
| Fair PE Ratio | n/a |
Price-To-Earnings vs Fair Ratio: Insufficient data to calculate MANH *'s Price-To-Earnings Fair Ratio for valuation analysis.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | Mex$5,571.43 | Mex$5,806.40 +4.2% | 13.1% | Mex$6,399.38 | Mex$3,961.52 | n/a | 9 |
| Nov ’25 | Mex$5,361.81 | Mex$5,745.09 +7.1% | 12.5% | Mex$6,291.65 | Mex$3,894.83 | n/a | 9 |
| Oct ’25 | n/a | Mex$5,133.69 0% | 10.9% | Mex$5,637.05 | Mex$3,830.05 | n/a | 10 |
| Sep ’25 | n/a | Mex$5,004.33 0% | 10.1% | Mex$5,563.14 | Mex$3,806.36 | n/a | 10 |
| Aug ’25 | n/a | Mex$4,738.44 0% | 10.2% | Mex$5,309.58 | Mex$3,632.87 | n/a | 10 |
| Jul ’25 | n/a | Mex$4,512.46 0% | 8.6% | Mex$5,031.26 | Mex$3,567.62 | n/a | 10 |
| Jun ’25 | n/a | Mex$4,053.97 0% | 9.1% | Mex$4,588.90 | Mex$3,253.95 | n/a | 10 |
| May ’25 | n/a | Mex$4,103.60 0% | 9.0% | Mex$4,733.05 | Mex$3,356.16 | n/a | 9 |
| Apr ’25 | n/a | Mex$3,985.43 0% | 8.6% | Mex$4,335.92 | Mex$3,251.94 | n/a | 9 |
| Mar ’25 | n/a | Mex$4,067.38 0% | 8.5% | Mex$4,474.26 | Mex$3,355.70 | n/a | 8 |
| Feb ’25 | n/a | Mex$4,067.38 0% | 8.5% | Mex$4,474.26 | Mex$3,355.70 | n/a | 8 |
| Jan ’25 | n/a | Mex$3,687.88 0% | 11.5% | Mex$4,206.14 | Mex$2,952.88 | n/a | 8 |
| Dec ’24 | Mex$3,867.18 | Mex$3,648.19 -5.7% | 10.8% | Mex$4,209.86 | Mex$2,955.49 | n/a | 8 |
| Nov ’24 | n/a | Mex$3,798.13 0% | 10.4% | Mex$4,213.78 | Mex$3,151.18 | Mex$5,361.81 | 8 |
| Oct ’24 | n/a | Mex$3,536.04 0% | 10.4% | Mex$3,937.26 | Mex$2,944.38 | n/a | 8 |
| Sep ’24 | Mex$3,349.00 | Mex$3,500.85 +4.5% | 9.9% | Mex$3,921.80 | Mex$2,932.82 | n/a | 8 |
| Aug ’24 | n/a | Mex$3,430.69 0% | 10.5% | Mex$3,873.36 | Mex$2,896.60 | n/a | 7 |
| Jul ’24 | n/a | Mex$3,171.14 0% | 11.4% | Mex$3,741.23 | Mex$2,850.46 | n/a | 7 |
| Jun ’24 | n/a | Mex$3,171.14 0% | 11.4% | Mex$3,741.23 | Mex$2,850.46 | n/a | 7 |
| May ’24 | Mex$3,036.80 | Mex$3,191.02 +5.1% | 10.2% | Mex$3,810.56 | Mex$2,903.28 | n/a | 7 |
| Apr ’24 | n/a | Mex$3,081.68 0% | 11.4% | Mex$3,786.15 | Mex$2,678.01 | n/a | 7 |
| Mar ’24 | n/a | Mex$3,081.68 0% | 11.4% | Mex$3,786.15 | Mex$2,678.01 | n/a | 7 |
| Feb ’24 | Mex$2,457.00 | Mex$3,152.08 +28.3% | 12.0% | Mex$3,873.19 | Mex$2,645.10 | n/a | 6 |
| Jan ’24 | n/a | Mex$3,309.17 0% | 10.7% | Mex$4,026.00 | Mex$2,945.85 | n/a | 6 |
| Dec ’23 | n/a | Mex$3,370.35 0% | 10.6% | Mex$4,088.29 | Mex$2,991.44 | Mex$3,867.18 | 6 |
| Nov ’23 | n/a | Mex$3,370.35 0% | 10.6% | Mex$4,088.29 | Mex$2,991.44 | n/a | 6 |
Analyst Forecast: Target price is less than 20% higher than the current share price.