What does Manhattan Associates do?

Manhattan Associates makes software that helps companies run their supply chains. Its tools track goods through warehouses, plan truck shipments at the lowest freight cost, and manage orders, store inventory and checkout across online and physical stores. Retailers, consumer goods makers, grocers, logistics firms and others use it to get products to customers efficiently.

Technology · Software - Application · MANH

What Manhattan Associates Does & How It Makes Money (MANH)

Updated October 2026 · reflects Manhattan Associates's latest reported financials

Software maker for warehouse, transportation, inventory and omnichannel retail operations. It earns money from cloud subscriptions and software licenses, maintenance fees from on-premises customers, and professional services such as implementation, consulting and training.

Manhattan Associates's story, moat and numbers — in a 3-minute visual book.

Explore Manhattan Associates on TacticScale →

How Manhattan Associates makes money

It earns money from cloud subscriptions and software licenses, maintenance fees from on-premises customers, and professional services such as implementation, consulting and training. It also resells warehouse hardware such as barcode scanners, printers and RFID readers.

What Manhattan Associates does

Manhattan Associates is an Atlanta-based software company, founded in 1990, that focuses on supply chain execution and omnichannel commerce. Its main products cover warehouse management, transportation management, and order and store operations through Manhattan Active Omni. Newer offerings run on the cloud-native Manhattan Active Platform, which is designed to be version-less, so customers get updates without major upgrade projects. The company serves retail, consumer goods, grocery, logistics providers, industrial and wholesale, high tech, life sciences and government customers across the Americas, EMEA and Asia Pacific. Revenue comes from software (cloud and licenses), maintenance for on-premises users, and implementation and consulting services, plus some resale of warehouse hardware. It sells both directly and through partners.

Products & services

Manhattan Active Warehouse Management
Manhattan Active Omni
Transportation Management
Manhattan SCALE
Manhattan Active Platform
Demand forecasting, replenishment and allocation

What is Manhattan Associates worth?

On an owner-earnings DCF, Manhattan Associates's most-likely value is about $234 versus a recent price near $205 (14% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$77) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.

Verdict: Fairly priced — no edge

Owner-earnings fair value · recent price ≈ $205

Fair value (most likely)

$234

Range

$151–$450

No-growth floor

$77

Price

~$205

Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.

Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →

Sector Technology Industry Software - Application HQ United States Ticker MANH Official site

Related companies

SPS Commerce (SPSC) · Omnicell (OMCL) · Hanshow Technology (301275.SZ) · Teradata (TDC)

Understand Manhattan Associates in 3 minutes →