NasdaqGS:MANH

Stock Analysis Report

Executive Summary

Manhattan Associates, Inc. develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers, and other organizations.


Snowflake Analysis

Flawless balance sheet and fair value.


Similar Companies

Share Price & News

How has Manhattan Associates's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MANH's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0.2%

MANH

2.6%

US Software

5.3%

US Market


1 Year Return

-12.6%

MANH

9.5%

US Software

-10.7%

US Market

Return vs Industry: MANH underperformed the US Software industry which returned 11% over the past year.

Return vs Market: MANH exceeded the US Market which returned -10.4% over the past year.


Shareholder returns

MANHIndustryMarket
7 Day0.2%2.6%5.3%
30 Day-27.1%-7.9%-13.6%
90 Day-38.3%-3.2%-19.8%
1 Year-12.6%-12.6%10.6%9.5%-8.9%-10.7%
3 Year1.2%1.2%106.4%97.6%15.5%8.0%
5 Year-5.9%-5.9%173.9%154.7%35.2%20.4%

Price Volatility Vs. Market

How volatile is Manhattan Associates's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Manhattan Associates undervalued compared to its fair value and its price relative to the market?

25.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MANH ($52.99) is trading below our estimate of fair value ($67.16)

Significantly Below Fair Value: MANH is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: MANH is good value based on its PE Ratio (39.8x) compared to the Software industry average (40x).

PE vs Market: MANH is poor value based on its PE Ratio (39.8x) compared to the US market (13.1x).


Price to Earnings Growth Ratio

PEG Ratio: MANH is poor value based on its PEG Ratio (4.2x)


Price to Book Ratio

PB vs Industry: MANH is overvalued based on its PB Ratio (23.6x) compared to the US Software industry average (4.3x).


Next Steps

Future Growth

How is Manhattan Associates forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

9.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MANH's forecast earnings growth (9.5% per year) is above the savings rate (1.7%).

Earnings vs Market: MANH's earnings (9.5% per year) are forecast to grow slower than the US market (12.2% per year).

High Growth Earnings: MANH's earnings are forecast to grow, but not significantly.

Revenue vs Market: MANH's revenue (6.8% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: MANH's revenue (6.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if MANH's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Manhattan Associates performed over the past 5 years?

0.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MANH has high quality earnings.

Growing Profit Margin: MANH's current net profit margins (13.9%) are lower than last year (18.7%).


Past Earnings Growth Analysis

Earnings Trend: MANH's earnings have grown by 0.5% per year over the past 5 years.

Accelerating Growth: MANH's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: MANH had negative earnings growth (-18.1%) over the past year, making it difficult to compare to the Software industry average (18.7%).


Return on Equity

High ROE: MANH's Return on Equity (60.3%) is considered outstanding.


Next Steps

Financial Health

How is Manhattan Associates's financial position?


Financial Position Analysis

Short Term Liabilities: MANH's short term assets ($232.0M) exceed its short term liabilities ($181.6M).

Long Term Liabilities: MANH's short term assets ($232.0M) exceed its long term liabilities ($48.4M).


Debt to Equity History and Analysis

Debt Level: MANH is debt free.

Reducing Debt: MANH has not had any debt for past 5 years.

Debt Coverage: MANH has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: MANH has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: MANH has a low level of unsold assets or inventory.

Debt Coverage by Assets: MANH's debt is covered by short term assets (assets are 3.2656867535459E+16x debt).


Next Steps

Dividend

What is Manhattan Associates's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate MANH's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate MANH's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MANH's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MANH's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MANH's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.8yrs

Average management tenure


CEO

Eddie Capel (58yo)

7.25s

Tenure

US$4,486,523

Compensation

Mr. Eddie Capel has been the Chief Executive Officer of Manhattan Associates, Inc. since January 01, 2013. Mr. Capel has been the President and a Director of Manhattan Associates, Inc. since July 24, 2012. ...


CEO Compensation Analysis

Compensation vs Market: Eddie's total compensation ($USD4.49M) is about average for companies of similar size in the US market ($USD5.48M).

Compensation vs Earnings: Eddie's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Eddie Capel
President7.25yrsUS$4.49m0.15% $4.6m
Deepak Raghavan
Founder & Independent Director22.17yrsUS$227.10k0.056% $1.8m
Dennis Story
Executive VP3.75yrsUS$2.34m0.22% $6.9m
Linda Pinne
Senior VP4.25yrsUS$511.97k0.025% $804.0k
Bruce Richards
Senior VP8.67yrsUS$1.12m0.018% $575.4k
Robert Howell
Senior Vice President of Americas Sales8.25yrsUS$1.94m0.12% $3.8m
Sanjeev Siotia
Senior VP & CTO3.92yrsno datano data
Matt Humphries
Senior Director of Investor Relationsno datano datano data
Kathleen Creech
Senior VP & Chief Human Resources Officer1.83yrsno datano data
Raghav Sibal
Managing Director of Australia & New Zealand9.25yrsno datano data

5.8yrs

Average Tenure

53.5yo

Average Age

Experienced Management: MANH's management team is seasoned and experienced (5.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Eddie Capel
President7.25yrsUS$4.49m0.15% $4.6m
Deepak Raghavan
Founder & Independent Director22.17yrsUS$227.10k0.056% $1.8m
John Huntz
Independent Chairman16.92yrsUS$349.60k0.099% $3.1m
Thomas Noonan
Independent Director21.25yrsUS$247.10k0.21% $6.8m
Charles Moran
Independent Director2.92yrsUS$222.10k0.012% $369.1k
Edmond Eger
Independent Director4.5yrsUS$224.60k0.015% $465.3k
Linda Hollembaek
Independent Director1.92yrsUS$198.28k0.0060% $190.5k

7.8yrs

Average Tenure

58yo

Average Age

Experienced Board: MANH's board of directors are considered experienced (7.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Manhattan Associates, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Manhattan Associates, Inc.
  • Ticker: MANH
  • Exchange: NasdaqGS
  • Founded: 1990
  • Industry: Application Software
  • Sector: Software
  • Market Cap: US$3.165b
  • Shares outstanding: 63.53m
  • Website: https://www.manh.com

Number of Employees


Location

  • Manhattan Associates, Inc.
  • 2300 Windy Ridge Parkway
  • Tenth Floor
  • Atlanta
  • Georgia
  • 30339
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MANHNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDApr 1998
MHTDB (Deutsche Boerse AG)YesCommon StockDEEURApr 1998

Biography

Manhattan Associates, Inc. develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers, and other organizations. The company offers Manhattan SCALE, a portfolio of logistics execution solutions that provide trading partner management, yard management, optimization, warehouse management, and transportation execution services; and Manhattan Active, a set of enterprise and store omni-channel solutions. It also provides inventory optimization and planning solutions; maintenance services comprising customer support services and software enhancements; professional services, such as solutions planning and implementation, and related consulting services; and training and change management services. In addition, the company resells computer hardware, radio frequency terminal networks, radio frequency identification chip readers, bar code printers and scanners, and other peripherals. It offers products through direct sales personnel, as well as through partnership agreements with various organizations in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company was founded in 1990 and is headquartered in Atlanta, Georgia. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/01 10:56
End of Day Share Price2020/03/31 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.