15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 13.0% per year over the past 5 years.
Net income has grown faster than revenue (20.3% vs 13.0% per year).
Operating margin has expanded, at 25.9% in the latest year.
Free cash flow has grown 22.0% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$1.1B
$220M
56.3%
25.9%
69.9%
26.2%
$374M
—
$329M
2024
$1.0B
$218M
54.8%
25.1%
73.0%
28.8%
$286M
—
$266M
2023
$929M
$177M
53.6%
22.6%
63.5%
26.2%
$241M
—
$271M
2022
$767M
$129M
53.3%
19.9%
56.9%
22.6%
$173M
—
$225M
2021
$664M
$110M
55.1%
20.2%
44.1%
20.5%
$181M
—
$264M
2020
$586M
$87M
54.0%
19.5%
39.9%
18.7%
$138M
—
$205M
2019
$618M
$86M
53.9%
18.8%
60.3%
23.0%
$132M
—
$111M
2018
$559M
$105M
56.9%
23.9%
71.1%
34.1%
$130M
—
$99M
2017
$595M
$116M
58.7%
31.2%
66.6%
37.0%
$158M
—
$126M
2016
$605M
$124M
58.7%
32.1%
73.4%
41.8%
$133M
—
$96M
2015
—
$103M
—
—
52.9%
31.1%
—
—
$118M
2014
—
$82M
—
—
45.0%
25.8%
—
—
$116M
2013
—
$67M
—
—
37.1%
22.6%
$85M
—
$124M
2012
—
$52M
—
—
32.1%
19.8%
$67M
—
$97M
2011
—
$45M
—
—
27.7%
17.3%
$51M
—
$92M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Sep '26
$306M
$61M
56.9%
26.5%
30.6%
8.2%
$68M
—
$199M
Jun '26
$298M
$50M
56.5%
22.2%
32.0%
7.2%
$90M
—
$186M
Mar '26
$282M
$49M
55.1%
23.0%
24.0%
6.7%
$80M
—
$226M
Dec '25
$270M
$52M
55.0%
24.8%
16.5%
6.2%
$142M
—
$329M
Sep '25
$276M
$59M
56.6%
27.5%
19.0%
7.6%
$87M
—
$264M
Jun '25
$272M
$57M
57.3%
27.1%
20.4%
7.6%
$70M
—
$231M
Mar '25
$263M
$53M
56.4%
24.0%
21.5%
7.4%
$74M
—
$206M
Dec '24
$256M
$48M
55.8%
23.7%
16.1%
6.3%
$102M
—
$266M
Sep '24
$267M
$64M
55.5%
28.2%
22.9%
9.1%
$61M
—
$215M
Jun '24
$265M
$53M
54.8%
25.7%
21.9%
7.9%
$71M
—
$203M
Mar '24
$255M
$54M
53.1%
22.6%
22.5%
8.0%
$52M
—
$208M
Dec '23
$238M
$49M
55.2%
24.7%
17.5%
7.2%
$86M
—
$271M
Sep '23
$238M
$49M
53.3%
22.4%
23.5%
8.6%
$57M
—
$182M
Jun '23
$231M
$40M
52.9%
21.9%
23.2%
7.5%
$40M
—
$153M
Mar '23
$221M
$39M
53.1%
21.3%
21.4%
7.3%
$58M
—
$182M
Dec '22
$198M
$38M
54.6%
22.6%
16.7%
6.6%
$53M
—
$225M
Sep '22
$198M
$30M
51.5%
18.6%
15.0%
5.8%
$38M
—
$197M
Jun '22
$192M
$31M
53.8%
19.4%
14.8%
6.0%
$52M
—
$214M
Mar '22
$179M
$31M
53.4%
19.0%
14.1%
6.0%
$31M
—
$216M
Dec '21
$171M
$21M
52.4%
15.8%
8.2%
3.8%
$38M
—
$264M
Valuation over time
How the market has priced MANH against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 69.7× (Mar '23) to 66.8× (Nov '26).
The price-to-sales ratio has risen from 11.7× (Mar '23) to 13.6× (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is MANH growing its revenue and profit?
Over the past 5 years, Manhattan Associates Inc's revenue has grown 13.0% per year, and net income grown 20.3% per year. These are computed facts, not advice.
How much debt does MANH have?
As of FY2025, Manhattan Associates Inc reported — of total debt against $329M of cash.
What is MANH's profit margin?
In FY2025, gross margin was 56.3%, operating margin 25.9%, and net margin 20.3%.
What is MANH's P/E ratio?
Manhattan Associates Inc's P/E (TTM) is 69.03 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the MANH stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 66.8× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.