MANHMANHATTAN ASSOCIATES INC
Services-Prepackaged Software
- Revenue
- $1.1B
- 3.7% YoY
- Operating margin
- 25.9%
- 3.1% YoY
- EBITDA
- $286M
- 6.8% YoY
- Market cap
- $14.4B
- Employees
- 2,600
- $416K revenue each
- Net debt / EBITDA
- —
- AI in 10-K
- 10.4
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo177% of net incomeCash flow under 80% of net income
- Dilutive SBCYes10% of revenueOver 10% of revenue
- Payouts exceed cash flowNo81% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo8% of assetsOver 40% of assets
- Shareholder dissentNo89% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$416K · 46th pctBottom quartile of its SIC industry
- Quiet on AINo10.4 per 10K words · 93rd pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$14.4B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$3M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $664M | $767M | $929M | $1.0B | $1.1B | 3.7% |
| Operating income | $134M | $153M | $210M | $262M | $280M | 7.0% |
| Net income | $110M | $129M | $177M | $218M | $220M | 0.7% |
| Operating cash flow | $185M | $180M | $246M | $295M | $389M | 32% |
| Capex | $4M | $7M | $5M | $9M | $15M | 78% |
| Stock-based comp | $43M | $59M | $72M | $93M | $111M | 19% |
| Buybacks | $120M | $204M | $196M | $286M | $315M | 10% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $3M · 6
- Net
- −$3M
Pay vs performance
No pay-versus-performance disclosure yet.