Cash flow Manhattan Associates, Inc.

Equities

MANH

US5627501092

IT Services & Consulting

Market Closed - Nasdaq Other stock markets 21:00:00 13/05/2026 BST			5-day change	1st Jan Change
125.56 ^USD	-6.88%		-8.88%	-27.55%

04-22	Manhattan Associates Shares Rise After Q1 Beat	MT
04-22	Manhattan Associates, Inc., Q1 2026 Earnings Call, Apr 21, 2026

4bc474c3620bdf228772a0802.2AC-a_DAHInHQOBzn6pQqcFEy3Ln8lWUPpbnoUcd-6s.l0roLsmQavqkcZAq8_w6_7MF_SGQnyXBctXW0QxP1vStVsQksu1T-f4Ikw

Published financial data: MANHATTAN ASSOCIATES, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	664M	767M	929M	1.04B	1.08B
Total Revenues	664M	767M	929M	1.04B	1.08B
Cost of Goods Sold, Total	298M	358M	431M	471M	472M
Gross Profit	366M	409M	498M	571M	609M
Selling General & Admin Expenses, Total	126M	138M	156M	166M	175M
R&D Expenses	97.63M	112M	127M	138M	145M
Depreciation & Amortization - (IS)	7.91M	6.66M	5.75M	6.3M	6.32M
Other Operating Expenses, Total	231M	256M	288M	310M	326M
Operating Income	134M	153M	210M	262M	283M
Interest And Investment Income	68K	596K	5.3M	6.03M	4.39M
Net Interest Expenses	68K	596K	5.3M	6.03M	4.39M
Currency Exchange Gains (Loss)	-200K	4.7M	-1.5M	-1M	1.7M
Other Non Operating Income (Expenses)	-129K	125K	-14K	189K	5K
EBT, Excl. Unusual Items	134M	158M	214M	267M	289M
Restructuring Charges	-	-	-	-	-2.94M
EBT, Incl. Unusual Items	134M	158M	214M	267M	286M
Income Tax Expense	23.6M	29.16M	37.1M	48.45M	65.95M
Earnings From Continuing Operations	110M	129M	177M	218M	220M
Net Income to Company	110M	129M	177M	218M	220M
Net Income - (IS)	110M	129M	177M	218M	220M
Net Income to Common Incl Extra Items	110M	129M	177M	218M	220M
Net Income to Common Excl. Extra Items	110M	129M	177M	218M	220M
Per Share Items
Net EPS - Basic	1.74	2.05	2.86	3.56	3.64
Basic EPS - Continuing Operations	1.74	2.05	2.86	3.56	3.64
Basic Weighted Average Shares Outstanding	63.44M	62.77M	61.82M	61.3M	60.47M
Net EPS - Diluted	1.72	2.03	2.82	3.51	3.6
Diluted EPS - Continuing Operations	1.72	2.03	2.82	3.51	3.6
Diluted Weighted Average Shares Outstanding	64.32M	63.41M	62.61M	62.18M	61.05M
Normalized Basic EPS	1.32	1.57	2.16	2.72	2.99
Normalized Diluted EPS	1.3	1.56	2.13	2.68	2.96
Supplemental Items
EBITDA	142M	159M	216M	268M	289M
EBITA	134M	153M	210M	262M	283M
EBIT	134M	153M	210M	262M	283M
EBITDAR	150M	167M	224M	277M	299M
Total Revenues (As Reported)	664M	767M	929M	1.04B	1.08B
Effective Tax Rate - (Ratio)	17.6	18.44	17.36	18.16	23.07
Current Domestic Taxes	19.23M	53.38M	57.41M	67.39M	40.05M
Current Foreign Taxes	6.31M	5.49M	8.54M	9.75M	7.55M
Total Current Taxes	25.54M	58.87M	65.95M	77.14M	47.6M
Deferred Domestic Taxes	-958K	-27.58M	-26.25M	-27.57M	19.45M
Deferred Foreign Taxes	-981K	-2.13M	-2.6M	-1.12M	-1.11M
Total Deferred Taxes	-1.94M	-29.71M	-28.84M	-28.69M	18.34M
Normalized Net Income	83.8M	98.83M	134M	167M	181M
Supplemental Operating Expense Items
Advertising Expense	2.3M	1.2M	2.4M	1.8M	2M
Selling and Marketing Expenses	57.86M	64.54M	74.49M	75.98M	81.18M
General and Administrative Expenses	68.09M	73.07M	81.17M	89.81M	93.76M
Research And Development Expense From Footnotes	97.63M	112M	127M	138M	145M
Net Rental Expense, Total	7.9M	7.7M	8.1M	9.3M	10.1M
Stock-Based Comp., Other (Total)	43.26M	59.36M	71.57M	93.21M	111M
Total Stock-Based Compensation	43.26M	59.36M	71.57M	93.21M	111M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	264M	225M	271M	266M	329M
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	264M	225M	271M	266M	329M
Accounts Receivable, Total	124M	167M	181M	205M	215M
Other Receivables	2.6M	647K	1.37M	5.19M	6.72M
Total Receivables	127M	167M	183M	211M	221M
Prepaid Expenses	17.05M	18.88M	20.71M	22.22M	27.04M
Other Current Assets, Total	643K	3.61M	5.2M	4.14M	6.15M
Total Current Assets	408M	415M	479M	503M	583M
Gross Property Plant And Equipment	93.86M	85.46M	90.57M	121M	128M
Accumulated Depreciation	-52.7M	-54.86M	-57.13M	-59.23M	-54.69M
Net Property Plant And Equipment	41.16M	30.6M	33.44M	61.89M	73.56M
Goodwill	62.24M	62.23M	62.24M	62.23M	62.24M
Deferred Tax Assets Long-Term	7.65M	37.21M	66.04M	94.5M	75.9M
Deferred Charges Long-Term	16.9M	21.9M	29.6M	31.8M	39.5M
Other Long-Term Assets, Total	3.34M	2.87M	2.84M	3.86M	4.84M
Total Assets	540M	570M	673M	758M	839M
Liabilities
Accounts Payable, Total	19.62M	25.7M	24.51M	26.62M	22.18M
Accrued Expenses, Total	69.03M	73.08M	94.16M	90.92M	91M
Current Portion of Leases	6.81M	5.96M	6.43M	3.53M	4.88M
Current Income Taxes Payable	376K	2.05M	3.03M	1.26M	803K
Unearned Revenue Current, Total	153M	209M	238M	278M	337M
Total Current Liabilities	249M	316M	366M	400M	456M
Long-Term Leases	23.16M	14.06M	17.69M	47.79M	56.18M
Deferred Tax Liability Non Current	-	-	-	-	-
Other Non Current Liabilities	16.86M	13.72M	11.47M	10.33M	12.53M
Total Liabilities	289M	343M	395M	458M	525M
Common Stock, Total	631K	621K	615K	609K	598K
Retained Earnings	270M	254M	305M	329M	345M
Comprehensive Income and Other	-19.83M	-27.53M	-27.04M	-30.92M	-30.93M
Total Common Equity	251M	227M	278M	299M	315M
Total Equity	251M	227M	278M	299M	315M
Total Liabilities And Equity	540M	570M	673M	758M	839M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	63.15M	62.5M	61.57M	61.12M	59.85M
ECS Total Common Shares Outstanding	63.15M	62.19M	61.57M	60.92M	59.85M
Book Value / Share	3.97	3.65	4.52	4.91	5.26
Tangible Book Value	188M	165M	216M	237M	253M
Tangible Book Value Per Share	2.98	2.65	3.51	3.89	4.22
Total Debt	29.97M	20.03M	24.12M	51.33M	61.06M
Net Debt	-234M	-205M	-247M	-215M	-268M
Debt Equivalent Oper. Leases	63.2M	61.6M	64.8M	74.4M	80.8M
Account Code - Inventory Valuation	-	3	3	3	3
Machinery, Total	42.45M	44.14M	45.08M	46.8M	46.05M
Full Time Employees	3.6K	4.15K	4.58K	4.69K	4.37K
Accumulated Allowance for Doubtful Accounts (Supple)	2.42M	6.01M	-	900K	900K

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	110M	129M	177M	218M	220M
Depreciation & Amortization - CF	7.91M	6.66M	5.75M	6.3M	6.32M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	-
Depreciation & Amortization, Total	7.91M	6.66M	5.75M	6.3M	6.32M
(Gain) Loss From Sale Of Asset	7K	-89K	57K	-133K	-21K
Stock-Based Compensation (CF)	43.26M	59.36M	71.57M	93.21M	111M
Tax Benefit from Stock Options	-	-	-	-	-
Other Operating Activities, Total	-2.4M	-31.23M	-27.56M	-29.07M	18.09M
Change In Accounts Receivable	-16.65M	-44.06M	-13.08M	-26.7M	-3.58M
Change In Accounts Payable	12.26M	11.79M	18.12M	1.25M	-229K
Change in Unearned Revenues	40.53M	57.71M	27.14M	42.19M	52.1M
Change In Income Taxes	-3.67M	765K	-1.42M	-6.24M	319K
Change in Other Net Operating Assets	-6.53M	-10.25M	-10.92M	-4.16M	-14.73M
Cash from Operations	185M	180M	246M	295M	389M
Capital Expenditure	-4.02M	-6.59M	-4.73M	-8.68M	-15.46M
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Cash from Investing	-4.02M	-6.59M	-4.73M	-8.68M	-15.46M
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-120M	-204M	-196M	-286M	-315M
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	-120M	-204M	-196M	-286M	-315M
Foreign Exchange Rate Adjustments	-1.75M	-6.83M	-163K	-4.47M	3.67M
Net Change in Cash	59M	-38.24M	45.28M	-4.51M	62.52M
Supplemental Items
Cash Income Tax Paid (Refund)	29.16M	58.02M	67.38M	83.4M	47.27M
Levered Free Cash Flow	161M	170M	229M	257M	312M
Unlevered Free Cash Flow	161M	170M	229M	257M	312M
Change In Net Working Capital	-29.87M	-15.39M	-25.36M	-2.27M	-33.17M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	16.71	17.2	21.1	22.85	22.13
Return on Total Capital	31.84	36.66	48.29	50.59	48.9
Return On Equity %	47.06	54.02	69.92	75.64	71.66
Return on Common Equity	47.06	54.02	69.92	75.64	71.66
Margin Analysis
Gross Profit Margin %	55.12	53.3	53.63	54.82	56.32
SG&A Margin	18.98	17.94	16.76	15.9	16.18
EBITDA Margin %	21.43	20.78	23.22	25.7	26.73
EBITA Margin %	20.24	19.91	22.6	25.1	26.15
EBIT Margin %	20.24	19.91	22.6	25.1	26.15
Income From Continuing Operations Margin %	16.65	16.81	19.01	20.95	20.34
Net Income Margin %	16.65	16.81	19.01	20.95	20.34
Net Avail. For Common Margin %	16.65	16.81	19.01	20.95	20.34
Normalized Net Income Margin	12.63	12.88	14.38	16	16.69
Levered Free Cash Flow Margin	24.26	22.2	24.67	24.62	28.85
Unlevered Free Cash Flow Margin	24.26	22.2	24.67	24.62	28.85
Asset Turnover
Asset Turnover	1.32	1.38	1.49	1.46	1.35
Fixed Assets Turnover	14.66	21.38	29.01	21.87	15.97
Receivables Turnover (Average Receivables)	5.68	5.27	5.34	5.39	5.15
Short Term Liquidity
Current Ratio	1.64	1.32	1.31	1.26	1.28
Quick Ratio	1.57	1.24	1.24	1.19	1.21
Operating Cash Flow to Current Liabilities	0.74	0.57	0.67	0.74	0.85
Days Sales Outstanding (Average Receivables)	64.25	69.28	68.37	67.88	70.91
Average Days Payable Outstanding	22.94	23.09	21.28	19.86	18.85
Long Term Solvency
Total Debt/Equity	11.96	8.83	8.67	17.16	19.4
Total Debt / Total Capital	10.68	8.11	7.98	14.65	16.25
LT Debt/Equity	9.24	6.2	6.36	15.98	17.85
Long-Term Debt / Total Capital	8.25	5.7	5.85	13.64	14.95
Total Liabilities / Total Assets	53.56	60.22	58.67	60.51	62.5
Total Debt / EBITDA	0.2	0.12	0.11	0.19	0.2
Net Debt / EBITDA	-1.56	-1.23	-1.1	-0.78	-0.89
Total Debt / (EBITDA - Capex)	0.21	0.12	0.11	0.19	0.22
Net Debt / (EBITDA - Capex)	-1.6	-1.28	-1.13	-0.8	-0.94
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	13.18	15.59	21.07	12.23	3.75
Gross Profit, 1 Yr. Growth %	15.59	11.76	21.83	14.71	6.59
EBITDA, 1 Yr. Growth %	15.64	12.03	35.31	24.24	7.9
EBITA, 1 Yr. Growth %	17.77	13.67	37.45	24.64	8.08
EBIT, 1 Yr. Growth %	17.77	13.67	37.45	24.64	8.08
Earnings From Cont. Operations, 1 Yr. Growth %	26.63	16.73	36.92	23.67	0.73
Net Income, 1 Yr. Growth %	26.63	16.73	36.92	23.67	0.73
Normalized Net Income, 1 Yr. Growth %	17.84	17.94	35.13	24.87	8.25
Diluted EPS Before Extra, 1 Yr. Growth %	26.47	18.02	38.92	24.47	2.56
Accounts Receivable, 1 Yr. Growth %	13.94	34.04	8.64	13.41	4.48
Net Property, Plant and Equip., 1 Yr. Growth %	-16.63	-25.67	9.29	85.09	18.85
Total Assets, 1 Yr. Growth %	15.96	5.65	18.1	12.5	10.8
Tangible Book Value, 1 Yr. Growth %	20.28	-12.65	31.28	9.65	6.59
Common Equity, 1 Yr. Growth %	14.5	-9.51	22.7	7.49	5.23
Cash From Operations, 1 Yr. Growth %	31.44	-3	37.07	19.81	32.02
Capital Expenditures, 1 Yr. Growth %	47.11	64.02	-28.19	83.4	78.18
Levered Free Cash Flow, 1 Yr. Growth %	36.11	1.47	30.02	8.94	19.94
Unlevered Free Cash Flow, 1 Yr. Growth %	36.11	1.47	30.02	8.94	19.94
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	3.63	14.38	18.3	16.57	7.91
Gross Profit, 2 Yr. CAGR %	4.81	13.66	16.69	18.22	10.58
EBITDA, 2 Yr. CAGR %	7.14	13.82	23.12	29.66	15.78
EBITA, 2 Yr. CAGR %	7.65	15.7	25	30.89	16.07
EBIT, 2 Yr. CAGR %	7.65	15.7	25	30.89	16.07
Earnings From Cont. Operations, 2 Yr. CAGR %	13.5	21.58	26.42	30.13	11.61
Net Income, 2 Yr. CAGR %	13.5	21.58	26.42	30.13	11.61
Normalized Net Income, 2 Yr. CAGR %	7.47	17.89	26.24	29.9	16.26
Diluted EPS Before Extra, 2 Yr. CAGR %	14.15	22.17	28.04	31.49	12.99
Accounts Receivable, 2 Yr. CAGR %	11.02	23.58	20.67	11	8.85
Net Property, Plant and Equip., 2 Yr. CAGR %	-16.21	-21.28	-9.87	42.23	48.32
Total Assets, 2 Yr. CAGR %	20.41	10.68	11.7	15.27	11.65
Tangible Book Value, 2 Yr. CAGR %	53.42	2.5	7.08	19.98	8.11
Common Equity, 2 Yr. CAGR %	32.73	1.79	5.37	14.84	6.35
Cash From Operations, 2 Yr. CAGR %	12.27	12.92	15.31	28.15	25.77
Capital Expenditures, 2 Yr. CAGR %	-48.59	55.33	8.53	14.76	80.77
Levered Free Cash Flow, 2 Yr. CAGR %	12.64	19.98	16.85	20.67	15.09
Unlevered Free Cash Flow, 2 Yr. CAGR %	12.64	19.98	16.85	20.67	15.09
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	5.88	7.47	16.57	16.24	12.13
Gross Profit, 3 Yr. CAGR %	4.75	7.08	16.32	16.03	14.21
EBITDA, 3 Yr. CAGR %	-0.06	8.75	20.58	23.49	21.95
EBITA, 3 Yr. CAGR %	0.11	9.62	22.54	24.88	22.8
EBIT, 3 Yr. CAGR %	0.11	9.62	22.54	24.88	22.8
Earnings From Cont. Operations, 3 Yr. CAGR %	1.81	14.57	26.49	25.5	19.48
Net Income, 3 Yr. CAGR %	1.81	14.57	26.49	25.5	19.48
Normalized Net Income, 3 Yr. CAGR %	-0.53	10.85	23.38	25.78	22.24
Diluted EPS Before Extra, 3 Yr. CAGR %	2.87	15.43	27.52	26.84	21.04
Accounts Receivable, 3 Yr. CAGR %	7.52	18.22	18.38	18.2	8.78
Net Property, Plant and Equip., 3 Yr. CAGR %	42.19	-19.49	-12.18	14.57	33.97
Total Assets, 3 Yr. CAGR %	20.67	15.27	13.1	11.97	13.76
Tangible Book Value, 3 Yr. CAGR %	30.43	27.16	11.31	7.93	15.34
Common Equity, 3 Yr. CAGR %	19.43	16.82	8.33	6.07	11.54
Cash From Operations, 3 Yr. CAGR %	10.47	6.93	20.45	16.79	29.43
Capital Expenditures, 3 Yr. CAGR %	-18.08	-24.31	20.11	29.27	32.89
Levered Free Cash Flow, 3 Yr. CAGR %	12.32	10.3	24.66	15.21	20.97
Unlevered Free Cash Flow, 3 Yr. CAGR %	12.32	10.3	24.66	15.21	20.97
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	1.88	5.23	10.68	11.02	13.02
Gross Profit, 5 Yr. CAGR %	0.62	3.22	9.37	11.4	13.99
EBITDA, 5 Yr. CAGR %	-6.9	-4.21	8.64	16.67	18.63
EBITA, 5 Yr. CAGR %	-7.27	-4.13	9.41	17.68	19.91
EBIT, 5 Yr. CAGR %	-7.12	-4.13	9.41	17.68	19.91
Earnings From Cont. Operations, 5 Yr. CAGR %	-2.32	2.06	11.02	20.55	20.32
Net Income, 5 Yr. CAGR %	-2.32	2.06	11.02	20.55	20.32
Normalized Net Income, 5 Yr. CAGR %	-7.32	-3.38	9.42	18.11	20.48
Diluted EPS Before Extra, 5 Yr. CAGR %	0	3.86	12.28	21.6	21.49
Accounts Receivable, 5 Yr. CAGR %	4.41	12.58	12.6	15.28	14.48
Net Property, Plant and Equip., 5 Yr. CAGR %	18.76	14.58	18.49	1.09	8.3
Total Assets, 5 Yr. CAGR %	12.68	12.6	17	15.27	12.52
Tangible Book Value, 5 Yr. CAGR %	11.95	7.86	20.54	24.24	10.02
Common Equity, 5 Yr. CAGR %	8.15	5.33	13.59	16.02	7.53
Cash From Operations, 5 Yr. CAGR %	5.85	1.83	12.38	14.96	22.55
Capital Expenditures, 5 Yr. CAGR %	-10.11	1.22	-8.33	-10.6	41.45
Levered Free Cash Flow, 5 Yr. CAGR %	4.88	2.24	15.06	15.13	21.41
Unlevered Free Cash Flow, 5 Yr. CAGR %	4.88	2.24	15.06	15.13	21.41