Company Valuation: Manhattan Associates, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 9,840 7,575 13,256 16,505 10,443 7,862 - -
Change - -23.02% 75% 24.51% -36.73% -24.72% - -
Enterprise Value (EV) 1 9,576 7,350 12,985 16,239 10,115 7,341 7,095 7,273
Change - -23.25% 76.68% 25.05% -37.71% -27.43% -3.35% 2.51%
P/E ratio 90.4x 59.8x 76.4x 77x 48.1x 37.5x 32.6x 27.7x
PBR - - - - 33x 23x 19.3x 15.5x
PEG - 3.3x 2x 3.1x 18.76x -23.55x 2.2x 1.6x
Capitalization / Revenue 14.8x 9.88x 14.3x 15.8x 9.66x 6.86x 6.3x 5.79x
EV / Revenue 14.4x 9.58x 14x 15.6x 9.35x 6.41x 5.69x 5.36x
EV / EBITDA 51.6x 33.6x 45.2x 44.1x 25.7x 18.2x 15.9x 14.9x
EV / EBIT 53.8x 34.7x 46.1x 44.9x 26.1x 18.4x 16.1x 14.9x
EV / FCF 52.9x 42.5x 53.8x 56.7x 27x 19.7x 16.9x 14.6x
FCF Yield 1.89% 2.35% 1.86% 1.76% 3.7% 5.07% 5.91% 6.83%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 1.72 2.03 2.82 3.51 3.6 3.543 4.067 4.79
Distribution rate - - - - - - - -
Net sales 1 663.6 767.1 928.7 1,042 1,081 1,146 1,247 1,357
EBITDA 1 185.5 218.7 287.2 368.1 393.4 404.3 447.1 488.5
EBIT 1 177.9 212.1 281.5 361.8 387.1 398.2 441.2 488.2
Net income 1 110.5 129 176.6 218.4 219.9 215.1 247.7 287.5
Net Debt 1 -263.7 -225.5 -270.7 -266.2 -328.7 -521.3 -766.9 -588.5
Reference price 2 155.49 121.40 215.32 270.24 173.31 132.71 132.71 132.71
Nbr of stocks (in thousands) 63,282 62,397 61,565 61,075 60,258 59,240 - -
Announcement Date 01/02/22 02/02/23 30/01/24 28/01/25 27/01/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
37.46x6.41x18.16x-.--% 7.86B
23.66x3.89x13.83x2.66% 238B
14.7x1.57x8.24x3.29% 121B
18.39x3.36x12.38x4.62% 101B
18.26x3.1x10.63x3.27% 80.72B
21.48x5.54x13.68x2.66% 65.75B
18.81x2.79x11.87x3.75% 57.67B
-51.88x7.87x51.22x-.--% 49.72B
22.73x2.8x13.45x3.91% 42.17B
14.94x1.73x11.87x1.04% 41.37B
Average 13.85x 3.91x 16.53x 2.52% 80.54B
Weighted average by Cap. 15.56x 3.55x 14.56x 2.93%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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