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

Fundamentals

Flawless balance sheet with acceptable track record.


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


Market Performance


7 Day Return

1.8%

MANH

1.1%

US Software

1.0%

US Market


1 Year Return

79.1%

MANH

24.2%

US Software

6.7%

US Market

Return vs Industry: MANH exceeded the US Software industry which returned 24.2% over the past year.

Return vs Market: MANH exceeded the US Market which returned 6.7% over the past year.


Share holder returns

MANHIndustryMarket
7 Day1.8%1.1%1.0%
30 Day7.0%-0.6%-1.8%
90 Day22.3%-3.0%-1.8%
1 Year79.1%79.1%25.9%24.2%9.1%6.7%
3 Year49.6%49.6%123.3%114.6%46.1%36.6%
5 Year152.2%152.2%180.8%160.4%66.9%48.6%

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 based on future cash flows and its price relative to the stock market?

33%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Undervalued: MANH ($86.64) is trading below our estimate of fair value ($128.47)

Significantly Undervalued: MANH is trading below fair value, but not by a significant amount.


Price Based on Earnings

PE vs Industry: MANH is poor value based on its PE Ratio (58.6x) compared to the Software industry average (47.7x).

PE vs Market: MANH is poor value based on its PE Ratio (58.6x) compared to the US market (17.5x).


Price Based on Expected Growth

Low PEG Ratio: MANH is poor value based on its PEG Ratio (4.8x)


Price Based on Value of Assets

PB vs Industry: MANH is overvalued based on its PB Ratio (36x) compared to the US Software industry average (5.3x).


Next Steps

Future Growth

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

12.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Earnings vs Savings Rate: MANH's forecast earnings growth (12.2% per year) is above the savings rate (2.7%).

Earnings vs Market: MANH's earnings (12.2% per year) are forecast to grow slower than the US market (14.5% per year).

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

Revenue vs Market: MANH's revenue (7.3% per year) is forecast to grow faster than the US market (7.3% per year).

High Growth Revenue: MANH's revenue (7.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Estimates


Future Return on Equity

High 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?

5.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: MANH's earnings have grown by 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 (-10.4%) over the past year, making it difficult to compare to the Software industry average (19.1%).


Return on Equity

High ROE: MANH's Return on Equity (62.2%) is considered outstanding.


Return on Assets

ROA vs Industry: MANH has a higher Return on Assets than the Software industry average last year.


Return on Capital Employed

ROCE Improving: MANH's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Manhattan Associates's financial position?


Financial Position Analysis

Short Term Liabilities: MANH's short term assets ($239.6M) exceeds its short term liabilities ($169.1M)

Long Term Liabilities: MANH's short term assets (239.6M) exceeds 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 33714650497937318.515420x debt).


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%1.5%markettop25%3.8%industryaverage1.6%forecastin3Yearsn/a

Current dividend yield vs market & industry


Dividend Yield and Payments Analysis

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.

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

What is the CEO of Manhattan Associates's salary, the management and board of directors tenure and is there insider trading?

5.3yrs

Average management tenure


CEO

Eddie Capel (58yo)

6.8yrs

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 ($USD4.49M) is about average for companies of similar size in the US market ($USD6.81M).

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


Management Age and Tenure

5.3yrs

Average Tenure

53.5yo

Average Age

Experienced Management: MANH's management team is seasoned and experienced (5.3 years average tenure).


Board Age and Tenure

7.3yrs

Average Tenure

58yo

Average Age

Experienced Board: MANH's board of directors are considered experienced (7.3 years average tenure).


Insider Trading

Insider Buying: MANH insiders have only sold shares in the past 3 months.


Recent Insider Transactions

SellUS$901,01712 Aug 19
Dennis Story
EntityIndividual
Role
Chief Financial Officer
Executive VP
Shares10,600
Max PriceUS$85.00
SellUS$297,62412 Aug 19
John Huntz
EntityIndividual
Role
Chairman of the Board
Independent Chairman
Shares3,500
Max PriceUS$85.04
SellUS$3,499,26831 Jul 19
Eddie Capel
EntityIndividual
Role
Chief Executive Officer
President
Shares40,000
Max PriceUS$87.48
SellUS$148,50018 Mar 19
Robert Howell
EntityIndividual
Role
Senior Key Executive
Senior Vice President of Americas Sales
Shares2,750
Max PriceUS$54.00
SellUS$113,21306 Mar 19
John Huntz
EntityIndividual
Role
Chairman of the Board
Independent Chairman
Shares2,106
Max PriceUS$53.76
SellUS$301,14004 Mar 19
Bruce Richards
EntityIndividual
Role
Chief Legal Officer
Senior VP
Shares5,454
Max PriceUS$55.21

Ownership Breakdown


Management Team

  • Bruce Richards (64yo)

    Senior VP

    • Tenure: 8.2yrs
    • Compensation: US$1.12m
  • Deepak Raghavan (52yo)

    Founder & Independent Director

    • Tenure: 21.7yrs
    • Compensation: US$227.10k
  • Dennis Story (55yo)

    Executive VP

    • Tenure: 3.3yrs
    • Compensation: US$2.34m
  • Eddie Capel (58yo)

    President

    • Tenure: 6.8yrs
    • Compensation: US$4.49m
  • Raghav Sibal

    Managing Director of Australia & New Zealand

    • Tenure: 8.8yrs
  • Bob Howell (46yo)

    Senior Vice President of Americas Sales

    • Tenure: 7.8yrs
    • Compensation: US$1.94m
  • Henri Seroux

    Senior Vice President of EMEA

    • Tenure: 0yrs
  • Linda Pinne (45yo)

    Senior VP

    • Tenure: 3.8yrs
    • Compensation: US$511.97k
  • Sanjeev Siotia

    Senior VP & CTO

    • Tenure: 3.4yrs
  • Kathleen Creech

    Senior VP & Chief Human Resources Officer

    • Tenure: 1.3yrs

Board Members

  • John Huntz (68yo)

    Independent Chairman

    • Tenure: 16.4yrs
    • Compensation: US$349.60k
  • Tom Noonan (58yo)

    Independent Director

    • Tenure: 20.8yrs
    • Compensation: US$247.10k
  • Chuck Moran (64yo)

    Independent Director

    • Tenure: 2.4yrs
    • Compensation: US$222.10k
  • Deepak Raghavan (52yo)

    Founder & Independent Director

    • Tenure: 21.7yrs
    • Compensation: US$227.10k
  • Eddie Capel (58yo)

    President

    • Tenure: 6.8yrs
    • Compensation: US$4.49m
  • Ed Eger (58yo)

    Independent Director

    • Tenure: 4yrs
    • Compensation: US$224.60k
  • Linda Hollembaek (61yo)

    Independent Director

    • Tenure: 1.4yrs
    • Compensation: US$198.28k

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$5.573b
  • Shares outstanding: 64.33m
  • 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, lo ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 01:12
End of Day Share Price2019/10/11 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.

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