# Manhattan Associates, Inc. (MANH): Exceptional Business, Elevated Price?

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Text version: https://stenobird.com/podcast/stock-spotlight-7027390/manhattan-associates-inc-manh-exceptional-business-elevated-price.md
Podcast: [Stock Spotlight](https://stenobird.com/podcast/stock-spotlight-7027390)
Published: 2025-06-04T13:30:00+00:00
Episode link: https://podcasters.spotify.com/pod/show/mf369/episodes/Manhattan-Associates--Inc--MANH-Exceptional-Business--Elevated-Price-e32k8r0
Audio file: https://anchor.fm/s/fa8f9bac/podcast/play/102424864/https%3A%2F%2Fd3ctxlq1ktw2nl.cloudfront.net%2Fstaging%2F2025-4-9%2F7ac3d13b-7e03-d577-9e4a-fd95923350a3.mp3
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JSON: https://stenobird.com/v1/public/podcasts/stock-spotlight-7027390/episodes/manhattan-associates-inc-manh-exceptional-business-elevated-price
Duration seconds: 2781

## Resource

On this episode of Stock Spotlight, Michael breaks down Manhattan Associates ($MANH), a quiet powerhouse in supply chain software that’s been helping global retailers like Home Depot and CVS orchestrate complex omnichannel operations. With a versionless cloud platform and nearly 30% annual growth in cloud revenue, Manhattan is transitioning from a legacy services-heavy model to a high-margin SaaS business. But is it already priced for perfection? Despite best-in-class capital discipline, strong ROIC, and a sticky product suite, the stock trades at a premium on most valuation metrics and faces decelerating growth alongside a recent CEO transition. Michael shares why he’s moving $MANH to his watchlist for now — and what would need to change to make this a buy. Update: Morningstar has actually given Manhattan a Wide Moat rating (I said Narrow), though I’d personally place it somewhere between a solid Narrow and a true Wide. ---------------------------------------------------------------- 00:00 Intro 00:39 Investment Checklist & Database 02:03 Business Overview 12:45 Industry Overview 16:56 Quality Growth Profile 23:00 Financial Statement Overview 29:56 Management & Ownership Structure 35:56 KPIs to Track 37:51 Valuation & Technical Analysis 43:19 Bulls vs. Bears & Verdict 45:47 Outro ---------------------------------------------------------------- Intro Music: Andrey Rossi – Seize the Day Outro Music: Ra – Prospect *Music provided by Uppbeat Premium Follow me on X: https://twitter.com/invest091 Subscribe to my YouTube channel: https://www.youtube.com/@stockspotlightpodcast ---------------------------------------------------------------- Disclosure: The host of Stock Spotlight is not a licensed financial advisor. The information and opinions shared during t…

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