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DCF Valuation
Base-case fair value
$190.76
Intrinsic $254.35 · 25% MOS
Current price: $147.64
Base-case summary
Our base-case DCF for Manhattan Associates Inc (MANH) projects 10 years of free cash flow growth at 15.9% for years 1–5 and 8.0% for years 6–10, anchored to 15.9% historical FCF growth, then applies a 2.5% perpetual growth rate and a 8.0% discount rate. Starting from $380M in trailing free cash flow, this produces an intrinsic value of $254.35 per share. A 25% safety margin gives a fair value of $190.76, suggesting the stock is currently 29% undervalued against the $147.64 market price.
See 3 scenarios side by side
Conservative, Base, and Optimistic fair values, plus the sensitivity matrix and FCF history. Free account.
Model inputs
TTM Free Cash Flow
$380M
Cash & equivalents
$226M
Total debt
$56M
Shares outstanding
60M