We develop, sell, deploy, service and maintain software solutions designed to manage supply chains, inventory and omnichannel operations for retailers, wholesalers, manufacturers, logistics providers and other organizations.
We offer our customers access to new innovation on a quarterly basis, ensuring all customers are running on a single fully up-to-date codebase.
Manhattan Active® Omni is a first-of-its-kind, unified commerce application for modern retail.
Manhattan Carrier is a suite of solutions built specifically to help motor carriers optimize load assignments, minimize fuel costs, manage drivers’ hours of service and accommodate demand fluctuations.
Quoted word for word from Item 1 (Business) of the 10-K filed 2026-02-04 · read the filing
The same measures weighted eight different ways. They are meant to disagree — a superb business is often an expensive one. Press any of them to see exactly how that score was reached and which measure had the biggest say in it.
How the number was reached. Each measure gets a say in proportion to its weight in this view. The bar is that say — the whole width is this score, and each colour is how much of it one measure decides.
A measure with no data has its weight removed, never scored as zero — which is why “% judged” matters: it is how much of the intended weight actually had something behind it.
How the number was reached. Each measure gets a say in proportion to its weight in this view. The bar is that say — the whole width is this score, and each colour is how much of it one measure decides.
A measure with no data has its weight removed, never scored as zero — which is why “% judged” matters: it is how much of the intended weight actually had something behind it.
How the number was reached. Each measure gets a say in proportion to its weight in this view. The bar is that say — the whole width is this score, and each colour is how much of it one measure decides.
A measure with no data has its weight removed, never scored as zero — which is why “% judged” matters: it is how much of the intended weight actually had something behind it.
How the number was reached. Each measure gets a say in proportion to its weight in this view. The bar is that say — the whole width is this score, and each colour is how much of it one measure decides.
A measure with no data has its weight removed, never scored as zero — which is why “% judged” matters: it is how much of the intended weight actually had something behind it.
How the number was reached. Each measure gets a say in proportion to its weight in this view. The bar is that say — the whole width is this score, and each colour is how much of it one measure decides.
A measure with no data has its weight removed, never scored as zero — which is why “% judged” matters: it is how much of the intended weight actually had something behind it.
How the number was reached. Each measure gets a say in proportion to its weight in this view. The bar is that say — the whole width is this score, and each colour is how much of it one measure decides.
A measure with no data has its weight removed, never scored as zero — which is why “% judged” matters: it is how much of the intended weight actually had something behind it.
How the number was reached. Each measure gets a say in proportion to its weight in this view. The bar is that say — the whole width is this score, and each colour is how much of it one measure decides.
A measure with no data has its weight removed, never scored as zero — which is why “% judged” matters: it is how much of the intended weight actually had something behind it.
How the number was reached. Each measure gets a say in proportion to its weight in this view. The bar is that say — the whole width is this score, and each colour is how much of it one measure decides.
A measure with no data has its weight removed, never scored as zero — which is why “% judged” matters: it is how much of the intended weight actually had something behind it.
Every one of these opens. Tap it and it will tell you what it is, how to read it, the sum behind it, and the exact line of the filing the figures came from.
How much the business earns on the money tied up in it. The closest thing to a single measure of quality.
Of the money the owners have put in and left in, how much the company earns back each year.
Above about 15% is good. Be careful though: borrowing heavily makes this number look better without the business being better, which is why return on capital employed sits next to it.
net income ÷ shareholders' equity
= $220M ÷ $315M
The same idea, but against everything the company owns — factories, stock, cash, the lot.
Above about 10% is good. A business that needs very little equipment can score highly here; a railway never will, and that is not a fault.
net income ÷ total assets
= $220M ÷ $839M
What the business earns on ALL the money tied up in it, borrowed and invested together.
The single most useful measure of quality on the page. Above about 12% is good; above 25% is rare. Unlike return on equity it cannot be flattered by debt.
operating income ÷ (equity + long-term debt)
= $280M ÷ ($315M + $0)
Pre-tax, so this is ROCE and not ROIC — the tax line is not fetched, and calling it ROIC would overstate what was measured.
How many dollars of sales the company squeezes out of each dollar of things it owns.
High means it does a lot with little. Low is normal for software and for anything that owns heavy machinery, so read it against the industry rather than on its own.
revenue ÷ total assets
= $1.08B ÷ $839M
Low is normal for software: the asset base is small relative to sales.
Out of every dollar customers pay, how much the company keeps.
What is left out of each dollar of sales after ALL the running costs — wages, rent, marketing, everything.
Above 20% is strong. This is the cleanest view of whether the day-to-day business makes money.
operating income ÷ revenue
= $280M ÷ $1.08B
What is finally left after running costs, interest and tax.
Above 10% is healthy. It can be lifted by one-off gains, which is why the operating margin is shown beside it.
net income ÷ revenue
= $220M ÷ $1.08B
Operating profit with the accounting charge for wear-and-tear added back — roughly the cash the operations throw off before the bills.
Useful for comparing companies that own a lot of equipment. It is NOT profit: the wear-and-tear is real and eventually has to be paid for.
(operating income + depreciation & amortisation) ÷ revenue
= ($280M + $6M) ÷ $1.08B
EBITDA built from operating income plus D&A, which is the only route available: no filer tags EBITDA itself.
Out of each dollar of sales, how much actual cash is left after keeping the business running and its equipment up to date.
The hardest number on the page to fake. Profit can be shaped by accounting choices; cash arriving in the bank cannot.
(operating cash flow − capital expenditure) ÷ revenue
= ($389M − $15M) ÷ $1.08B
What you are being asked to pay for all of the above. High is not a fault — it is a price.
How many years of the company's current profit you are paying for the shares.
Under about 20 is modest, above that you are paying for growth that has not happened yet. A loss-making company has none, which is why it sometimes shows n/a.
market cap ÷ net income
= $12.46B ÷ $220M
The same thing against sales instead of profit.
Used when profits are small or absent. Under about 5 is modest.
market cap ÷ revenue
= $12.46B ÷ $1.08B
The price against what the accounts say the company owns after its debts.
Under 1 means the market values it below its own books. Very high is normal for a business whose value is people and software rather than buildings.
market cap ÷ shareholders' equity
= $12.46B ÷ $315M
How many years of the cash the company actually generates you are paying for the shares.
The strictest of the four, because it uses cash rather than profit. Under about 15 is modest.
market cap ÷ free cash flow
= $12.46B ÷ $374M
What the WHOLE company costs — the shares plus the debt you inherit, less the cash that comes with it — against its rough operating cash.
This is what a buyer of the entire business would look at. Under about 12 is modest.
(market cap + debt − cash & investments) ÷ EBITDA
= ($12.46B + $0 − $329M) ÷ $286M
Enterprise value takes the whole company: what the equity costs, plus the debt you inherit, less the cash you get with it.
The same business divided by the number of owners. This is what you actually receive.
The profit divided by the number of shares: your slice of a year's earnings.
Not good or bad on its own — $3 of earnings could be cheap or dear depending on the price. Watch whether it GROWS.
net income ÷ weighted average diluted shares
= $220M ÷ 61M shares
The sales divided by the number of shares.
Its direction over years is the point: sales rising while this stays flat means new shares were issued and you gained nothing.
revenue ÷ weighted average diluted shares
= $1.08B ÷ 61M shares
What the accounts say the company owns, after debts, per share.
A floor of sorts for asset-heavy businesses. Nearly meaningless for one whose value is its staff and its software.
equity ÷ weighted average diluted shares
= $315M ÷ 61M shares
Whether the number of shares grew or shrank over the window.
Shrinking is good for you: the same business divided among fewer owners, so your slice grows without you doing anything. Growing means your slice was diluted.
change in weighted average diluted shares over the window
= 64M → 61M shares
Shrinking is good: the same business divided among fewer owners. Growing means your slice got smaller.
Whether it can cover what falls due within a year without borrowing.
What the company can turn into cash within a year, against what it owes within a year.
Above 1 means it can cover the next year's bills without borrowing. Below 1 is not automatically fatal but it needs a reason.
current assets ÷ current liabilities
= $583M ÷ $456M
The same, but ignoring unsold stock — because stock is only worth something if somebody buys it.
Above 1 is comfortable. For a company with no stock at all it equals the current ratio, which is normal and not a sign of strength.
(current assets − inventory) ÷ current liabilities
= ($583M − $0) ÷ $456M
No inventory reported, so this equals the current ratio — normal for software, and not a sign of unusual liquidity.
Not an opinion. This is the company’s own filed split between revenue it has already contracted for years ahead and revenue it has to win again next year.
LONG-TERMbacklog covers 1.6 years of revenue ($1.70B against $1.04B of sales)
From Form 4 — the filing a director must make after trading their own company’s shares. Only open-market purchases count: shares handed over as pay, or held back to settle a tax bill, are not somebody deciding to buy.
NO BUYINGno open-market purchases in the last 6 months
Dow Jones and Briefing.com through IB Gateway. Each verdict names the phrase it rested on, so you can disagree with it. Stories about other companies, and market columns, are thrown out.