10-Year Performance
Revenue, net income, margins and EPS trends
06
Revenue$1.08B2016-12-31 → 2025-12-31
EPS$3.602016-12-31 → 2025-12-31
Free Cash Flow$374M2016-12-31 → 2025-12-31
Net margin18.7%2016-12-31 → 2025-12-31
Valuation & Ratios07–12
Valuation
P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
MANH
5Y avg
Peer Median
Verdict
P/E (TTM)
58.95Y avg ≈70.3
≈70.3
39.9
Fair value
P/S (TTM)
10.65Y avg ≈12.9
≈12.9
7.2
Fair value
P/B (MRQ)
76.05Y avg ≈41.6
≈41.6
5.7
Overvalued
Price / FCF (TTM)
30.05Y avg ≈47.6
≈47.6
·
·
Price / Cash Flow (TTM)
28.95Y avg ≈46.3
≈46.3
33.4
Undervalued
Price / Tangible Book
48.75Y avg ≈54.0
≈54.0
·
·
PEG Ratio
≈2.7
·
·
·
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability
Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
MANH
5Y avg
Peer Median
Verdict
Operating Margin (TTM)
24.3%5Y avg ≈22.7%
≈22.7%
13.6%
Top tier
EBITDA Margin
25.9%5Y avg ≈22.7%
≈22.7%
13.6%
Top tier
Pretax Margin (TTM)
25.2%5Y avg ≈23.2%
≈23.2%
14.3%
Top tier
Net Profit Margin (TTM)
18.7%5Y avg ≈18.8%
≈18.8%
9.4%
Top tier
ROA (TTM)
29.1%5Y avg ≈26.3%
≈26.3%
5.8%
Top tier
ROE (TTM)
96.4%5Y avg ≈65.6%
≈65.6%
8.6%
Top tier
ROIC
68.4%5Y avg ≈60.3%
≈60.3%
10.7%
Top tier
Financial Health
Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
MANH
5Y avg
Peer Median
Verdict
Current Ratio (MRQ)
1.05Y avg ≈1.4
≈1.4
1.2
Low liquidity
Quick Ratio
1.25Y avg ≈1.3
≈1.3
0.9
Low liquidity
Growth
Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
MANH
5Y avg
Peer Median
Verdict
Revenue YoY
3.8%5Y avg ≈13.2%
≈13.2%
·
·
Revenue CAGR 3Y
12.1%5Y avg ≈15.0%
≈15.0%
·
·
Revenue CAGR 5Y
13.0%
·
·
·
EPS YoY
2.6%5Y avg ≈22.1%
≈22.1%
·
·
Net Income YoY
0.73%5Y avg ≈20.9%
≈20.9%
·
·
EPS CAGR 3Y
21.0%5Y avg ≈25.1%
≈25.1%
·
·
EPS CAGR 5Y
21.5%
·
·
·
Net Income CAGR 3Y
19.5%5Y avg ≈23.8%
≈23.8%
·
·
Net Income CAGR 5Y
20.3%
·
·
·
Per Share Metrics
EPS, book value per share, cash flow per share, dividend per share
Metric
5Y trend
MANH
5Y avg
Peer Median
Verdict
EPS (Diluted)
$3.605Y avg ≈$2.74
≈$2.74
·
·
Revenue / Share
$17.715Y avg ≈$14.34
≈$14.34
·
·
Cash Flow / Share
$6.385Y avg ≈$4.15
≈$4.15
·
·
Cash / Share
$5.495Y avg ≈$4.41
≈$4.41
·
·
Capital Efficiency
Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
MANH
5Y avg
Peer Median
Verdict
Asset Turnover
1.45Y avg ≈1.4
≈1.4
0.6
Top tier
Receivables Turnover
5.15Y avg ≈5.4
≈5.4
5.1
In line
Revenue / Employee
≈$263.8K
·
·
·
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History
EPS actual vs estimate, surprise %, beat rate, next earnings date
14
Avg Surprise9.9%
Next ReportOct 19, 2026
Period
Report
EPS Actual
EPS Est
Surprise
June 30, 2026
Jul 20, 2026
$1.39
$1.34
3.4%
March 31, 2026
$1.24
$1.14
9.1%
Dec. 31, 2025
$1.21
$1.14
5.7%
Sept. 30, 2025
$1.36
$1.20
13.4%
June 30, 2025
$1.31
$1.15
13.9%
March 31, 2025
$1.19
$1.05
13.7%
Full Fundamentals
All metrics by year — income statement, balance sheet, cash flow
15
Income Statement15
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Revenue
$1.08B
$1.04B
$929M
$767M
$664M
$586M
$618M
$559M
$595M
$605M
$556M
$492M
Cost of Revenue
$472M
$471M
$431M
$358M
$298M
$270M
$285M
$241M
$246M
$250M
$235M
$213M
R&D Expense
$145M
$138M
$127M
$112M
$98M
$84M
$88M
$72M
$58M
$55M
$54M
$49M
SG&A Expense
$94M
$90M
$81M
$73M
$68M
$61M
$65M
$53M
$46M
$48M
$49M
$44M
Operating Expenses
$802M
$781M
$719M
$614M
$529M
$472M
$502M
$425M
$409M
$410M
$395M
$365M
Operating Income
$280M
$262M
$210M
$153M
$134M
$114M
$116M
$134M
$186M
$194M
$161M
$127M
Other Non-op
$2M
$-811.0K
$-2M
$5M
$-329.0K
$-383.0K
$-562.0K
$1M
$-2M
$639.0K
$64.0K
$-394.0K
Pretax Income
$286M
$267M
$214M
$158M
$134M
$114M
$116M
$136M
$185M
$196M
$163M
$128M
Income Tax
$66M
$48M
$37M
$29M
$24M
$27M
$30M
$32M
$68M
$72M
$59M
$46M
Net Income
$220M
$218M
$177M
$129M
$110M
$87M
$86M
$105M
$116M
$124M
$103M
$82M
EPS (Basic)
$3.64
$3.56
$2.86
$2.05
$1.74
$1.37
$1.33
$1.58
$1.68
$1.73
$1.41
$1.09
EPS (Diluted)
$3.60
$3.51
$2.82
$2.03
$1.72
$1.36
$1.32
$1.58
$1.68
$1.72
$1.40
$1.08
Shares (Basic)
60,473,000
61,303,000
61,817,000
62,768,000
63,445,000
63,538,000
64,397,000
66,201,000
69,175,000
71,674,000
73,443,000
74,995,000
Shares (Diluted)
61,054,000
62,183,000
62,608,000
63,408,000
64,323,000
64,333,000
65,103,000
66,434,000
69,424,000
72,060,000
74,038,000
75,841,000
EBITDA
$280M
$262M
$210M
$153M
$134M
$114M
$116M
·
$186M
$194M
$161M
$134M
Balance Sheet23
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Cash & Equivalents
$329M
$266M
$271M
$225M
$264M
$205M
$111M
$99M
$126M
$96M
$118M
$116M
Short-term Investments
·
·
·
·
·
·
·
$1M
·
·
$10M
$9M
Receivables
$215M
$205M
$181M
$167M
$124M
$109M
$101M
$100M
$92M
$100M
$97M
$87M
Prepaid Expense
$40M
$22M
$21M
$19M
$17M
$15M
$14M
$11M
$9M
$10M
$9M
$7M
Other Current Assets
$6M
$4M
$5M
$4M
$643.0K
$4M
$5M
$3M
$1M
$937.0K
$2M
$1M
Current Assets
$583M
$503M
$479M
$415M
$408M
$334M
$232M
$215M
$228M
$207M
$237M
$230M
PP&E (Net)
$23M
$14M
$12M
$13M
$14M
$18M
$23M
$14M
$15M
$17M
$21M
$17M
PP&E (Gross)
$78M
$73M
$69M
$68M
$67M
$69M
$67M
$64M
$63M
$59M
$75M
$68M
Accum. Depreciation
$55M
$59M
$57M
$55M
$53M
$51M
$44M
$49M
$47M
$42M
$54M
$51M
Goodwill
$62M
$62M
$62M
$62M
$62M
$62M
$62M
$62M
$62M
$62M
$62M
$62M
Other Non-current Assets
$44M
$36M
$32M
$25M
$20M
$14M
$13M
$10M
$7M
$8M
$7M
·
Total Assets
$839M
$758M
$673M
$570M
$540M
$465M
$372M
$307M
$315M
$297M
$332M
$318M
Accounts Payable
$22M
$27M
$25M
$26M
$20M
$18M
$21M
$18M
$14M
$12M
$11M
$12M
Current Liabilities
$456M
$400M
$366M
$316M
$249M
$197M
$182M
$145M
$124M
$118M
$127M
$123M
Capital Leases
$56M
$48M
$18M
$14M
$23M
$28M
$32M
·
·
·
·
·
Deferred Tax
·
·
·
·
·
·
$37.0K
$53.0K
$69.0K
$53.0K
$35.0K
$4M
Other Non-current Liabilities
$13M
$10M
$11M
$14M
$17M
$22M
$16M
$15M
$14M
$7M
$6M
$4M
Common Stock
$598.0K
$609.0K
$615.0K
$621.0K
$631.0K
$635.0K
$635.0K
$649.0K
$678.0K
$702.0K
$728.0K
$741.0K
Retained Earnings
$345M
$329M
$305M
$254M
$270M
$237M
$159M
$163M
$186M
$185M
$207M
$191M
AOCI
$-31M
$-31M
$-27M
$-28M
$-20M
$-18M
$-18M
$-17M
$-12M
$-16M
$-12M
$-10M
Stockholders' Equity
$315M
$299M
$278M
$227M
$251M
$219M
$142M
$147M
$175M
$169M
$195M
$182M
Liabilities + Equity
$839M
$758M
$673M
$570M
$540M
$465M
$372M
$307M
$315M
$297M
$332M
$318M
Shares Outstanding
59,845,291
60,921,191
61,566,037
62,191,570
63,154,494
63,527,186
63,456,986
64,860,419
67,776,138
70,233,955
72,766,383
74,104,064
Cash Flow15
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
D&A
$6M
$6M
$6M
$7M
$8M
$9M
$8M
$9M
$9M
$9M
$8M
$6M
Stock-based Comp
$111M
$93M
$72M
$59M
$43M
$33M
$32M
$20M
$16M
$16M
$15M
$10M
Deferred Tax
$18M
$-29M
$-29M
$-30M
$-2M
$1M
$-1M
$-4M
$2M
$2M
$2M
$-2M
Amort. of Intangibles
·
·
·
·
·
·
·
$1M
$1M
$2M
·
·
Restructuring
$3M
·
·
·
·
·
·
·
$3M
·
·
·
Other Non-cash
·
·
·
·
·
·
·
·
·
·
·
$-2M
Operating Cash Flow
$389M
$295M
$246M
$180M
$185M
$141M
$147M
$137M
$164M
$139M
$120M
$94M
CapEx
$15M
$9M
$5M
$7M
$4M
$3M
$15M
$7M
$6M
$7M
$11M
$9M
Investing Cash Flow
$-15M
$-9M
$-5M
$-7M
$-4M
$-3M
$-14M
$-10M
$-6M
$3M
·
·
Stock Repurchased
$315M
$286M
$196M
$204M
$120M
$44M
$121M
$149M
$132M
$168M
$112M
$99M
Net Stock Activity
$-315M
$-286M
$-196M
$-204M
$-120M
$-44M
$-121M
·
$-132M
$-168M
$-112M
$-99M
Financing Cash Flow
$-315M
$-286M
$-196M
$-204M
$-120M
$-44M
$-121M
$-149M
$-132M
$-163M
·
·
Net Change in Cash
$63M
$-5M
$45M
$-38M
$59M
$94M
$12M
$-26M
$30M
$-23M
$3M
$-9M
Taxes Paid
$47M
$83M
$67M
·
·
·
·
·
·
·
·
·
Free Cash Flow
$374M
$286M
$241M
$173M
$181M
$138M
$132M
·
$158M
$133M
$109M
$85M
Profitability7
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Operating Margin
25.9%
25.1%
22.6%
19.9%
20.2%
19.4%
18.8%
·
31.2%
32.1%
123.0%
94.5%
Net Margin
20.3%
20.9%
19.0%
16.8%
16.7%
14.9%
13.9%
·
19.6%
20.5%
78.8%
60.9%
Pretax Margin
26.4%
25.6%
23.0%
20.6%
20.2%
19.4%
18.8%
·
31.1%
32.4%
124.0%
95.1%
EBITDA Margin
25.9%
25.1%
22.6%
19.9%
20.2%
19.4%
18.8%
·
31.2%
32.1%
123.0%
99.2%
ROA
27.6%
30.5%
28.4%
23.2%
22.0%
20.8%
25.2%
·
38.1%
39.5%
31.5%
26.6%
ROE
74.1%
75.7%
72.3%
60.7%
45.2%
42.9%
58.4%
·
67.7%
68.1%
54.8%
45.1%
ROIC
68.4%
71.6%
62.3%
54.9%
44.2%
40.0%
60.2%
·
66.9%
72.7%
52.5%
44.7%
Liquidity & Solvency2
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Current Ratio
1.3
1.3
1.3
1.3
1.6
1.7
1.3
·
1.8
1.8
1.9
1.9
Quick Ratio
1.2
1.2
1.2
1.2
1.6
1.6
1.2
·
1.8
1.7
1.8
1.7
Efficiency2
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Asset Turnover
1.4
1.5
1.5
1.4
1.3
1.4
1.8
·
1.9
1.9
0.4
0.4
Receivables Turnover
5.1
5.4
5.3
5.3
5.7
5.6
6.1
·
6.2
6.1
1.4
1.7
Per Share5
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Book Value / Share
$5.26
$4.91
$4.52
$3.65
$3.97
$3.45
$2.24
·
$2.58
$2.41
$2.69
$2.46
Revenue / Share
$17.71
$16.76
$14.83
$12.10
$10.32
$9.11
$9.49
·
$8.56
$8.39
$1.77
$1.77
Cash Flow / Share
$6.38
$4.74
$3.93
$2.83
$2.88
$2.19
$2.26
·
$2.36
$1.93
$1.62
$1.24
Cash / Share
$5.49
$4.37
$4.40
$3.63
$4.18
$3.22
$1.74
·
$1.85
$1.36
$1.63
$1.56
EPS (TTM)
$3.60
$3.51
$2.82
$2.03
$1.72
$1.36
$1.32
$1.58
$1.68
$1.72
$1.40
$1.08
Growth Rates9
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Revenue YoY
3.8%
12.2%
21.1%
15.6%
13.2%
·
·
·
·
·
·
·
Revenue CAGR 3Y
12.1%
16.2%
16.6%
·
·
·
·
·
·
·
·
·
Revenue CAGR 5Y
13.0%
·
·
·
·
·
·
·
·
·
·
·
EPS YoY
2.6%
24.5%
38.9%
18.0%
26.5%
·
·
·
·
·
·
·
EPS CAGR 3Y
21.0%
26.8%
27.5%
·
·
·
·
·
·
·
·
·
EPS CAGR 5Y
21.5%
·
·
·
·
·
·
·
·
·
·
·
Net Income YoY
0.73%
23.7%
36.9%
16.7%
26.6%
·
·
·
·
·
·
·
Net Income CAGR 3Y
19.5%
25.5%
26.5%
·
·
·
·
·
·
·
·
·
Net Income CAGR 5Y
20.3%
·
·
·
·
·
·
·
·
·
·
·
Valuation (TTM)10
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Revenue TTM
$1.08B
$1.04B
$929M
$767M
$664M
$586M
$618M
$559M
$595M
$605M
$556M
$492M
Net Income TTM
$220M
$218M
$177M
$129M
$110M
$87M
$86M
$105M
$116M
$124M
$103M
$82M
Market Cap
$10.37B
$16.46B
$13.26B
$7.55B
$9.82B
$6.68B
$5.06B
·
$3.36B
$3.72B
$4.81B
$3.02B
P/E
48.1
77.0
76.4
59.8
90.4
77.3
60.4
26.8
29.5
30.8
47.3
37.7
P/S
9.6
15.8
14.3
9.8
14.8
11.4
8.2
·
5.6
6.2
8.7
6.1
P/B
33.0
55.0
47.6
33.3
39.2
30.5
35.6
·
19.2
22.0
24.6
16.6
P / Tangible Book
41.1
69.5
61.4
45.9
52.1
42.7
·
·
·
·
·
·
P / Cash Flow
26.6
55.8
53.8
42.0
53.0
47.4
34.4
·
20.5
26.7
40.1
32.0
P / FCF
27.7
57.5
54.9
43.6
54.2
48.4
38.4
·
21.3
28.1
44.3
35.6
Earnings Yield
2.1%
1.3%
1.3%
1.7%
1.1%
1.3%
1.7%
3.7%
3.4%
3.2%
2.1%
2.6%
Income Statement15
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
Revenue
$298M
$282M
$270M
$276M
$272M
$263M
$256M
$267M
$265M
$255M
$238M
$238M
$231M
$221M
$198M
$198M
Cost of Revenue
$129M
$127M
$122M
$120M
$116M
$115M
$113M
$119M
$120M
$119M
$107M
$111M
$109M
$104M
$90M
$96M
R&D Expense
$35M
$37M
$39M
$36M
$35M
$35M
$33M
$34M
$35M
$35M
$31M
$33M
$32M
$31M
$27M
$29M
SG&A Expense
$27M
$24M
$19M
$24M
$26M
$24M
$27M
$20M
$21M
$21M
$20M
$21M
$20M
$20M
$18M
$18M
Operating Expenses
$232M
$217M
$203M
$200M
$199M
$200M
$195M
$192M
$197M
$197M
$179M
$185M
$181M
$174M
$153M
$161M
Operating Income
$66M
$65M
$67M
$76M
$74M
$63M
$61M
$75M
$68M
$58M
$59M
$53M
$50M
$47M
$45M
$37M
Other Non-op
$983.0K
$4M
$-3M
$3M
$715.0K
$1M
$-4M
$1M
$914.0K
$996.0K
$-4M
$2M
$1M
$143.0K
$232.0K
$2M
Pretax Income
$67M
$69M
$68M
$78M
$75M
$65M
$63M
$76M
$69M
$59M
$60M
$55M
$52M
$47M
$46M
$38M
Income Tax
$17M
$20M
$16M
$20M
$18M
$12M
$15M
$13M
$16M
$5M
$11M
$6M
$12M
$8M
$8M
$9M
Net Income
$50M
$49M
$52M
$59M
$57M
$53M
$48M
$64M
$53M
$54M
$49M
$49M
$40M
$39M
$38M
$30M
EPS (Basic)
$0.86
$0.83
$0.87
$0.97
$0.94
$0.86
$0.79
$1.04
$0.86
$0.87
$0.80
$0.80
$0.64
$0.62
$0.61
$0.47
EPS (Diluted)
$0.85
$0.82
$0.86
$0.96
$0.93
$0.85
$0.77
$1.03
$0.85
$0.86
$0.78
$0.79
$0.63
$0.62
$0.59
$0.47
Shares (Basic)
58,760,000
59,688,000
·
60,381,000
60,612,000
60,870,000
·
61,169,000
61,421,000
61,625,000
·
61,639,000
61,862,000
62,211,000
·
62,592,000
Shares (Diluted)
58,997,000
60,038,000
·
60,954,000
61,074,000
61,527,000
·
61,948,000
62,118,000
62,493,000
·
62,310,000
62,432,000
62,767,000
·
63,165,000
EBITDA
$66M
$65M
·
$76M
$74M
$63M
·
$75M
$68M
$58M
·
$53M
$50M
$47M
·
$37M
Balance Sheet21
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
Cash & Equivalents
$186M
$226M
$329M
$264M
$231M
$206M
$266M
$215M
$203M
$208M
·
$182M
$153M
$182M
·
$197M
Receivables
$219M
$227M
$215M
$220M
$210M
$211M
$205M
$200M
$191M
$206M
·
$183M
$178M
$161M
·
$144M
Prepaid Expense
$62M
$63M
$27M
$43M
$43M
$39M
$22M
$38M
$32M
$32M
·
$27M
$28M
$29M
·
$26M
Other Current Assets
·
·
$6M
·
·
·
$4M
·
·
·
·
·
·
·
·
·
Current Assets
$467M
$516M
$583M
$526M
$483M
$455M
$503M
$452M
$426M
$445M
·
$393M
$360M
$372M
·
$367M
PP&E (Net)
$25M
$25M
$23M
$20M
$16M
$14M
$14M
$13M
$13M
$13M
·
$11M
$12M
$12M
·
$12M
PP&E (Gross)
·
·
$78M
·
·
·
$73M
·
·
·
·
·
·
·
·
·
Accum. Depreciation
·
·
$55M
·
·
·
$59M
·
·
·
·
·
·
·
·
·
Goodwill
$62M
$62M
$62M
$62M
$62M
$62M
$62M
$62M
$62M
$62M
·
$62M
$62M
$62M
·
$62M
Other Non-current Assets
$48M
$46M
$44M
$39M
$36M
$36M
$36M
$34M
$34M
$33M
·
$31M
$29M
$28M
·
$24M
Total Assets
$699M
$741M
$839M
$769M
$745M
$708M
$758M
$698M
$665M
$675M
·
$573M
$527M
$531M
·
$515M
Accounts Payable
$31M
$22M
$22M
$21M
$24M
$24M
$27M
$23M
$26M
$26M
·
$25M
$26M
$25M
·
$27M
Current Liabilities
$475M
$467M
$456M
$400M
$407M
$405M
$400M
$362M
$363M
$372M
·
$333M
$331M
$323M
·
$284M
Capital Leases
$54M
$56M
$56M
$48M
$49M
$47M
$48M
$50M
$51M
$52M
·
$16M
$12M
$13M
·
$17M
Other Non-current Liabilities
$12M
$12M
$13M
$11M
$10M
$11M
$10M
$8M
$11M
$11M
·
$14M
$13M
$14M
·
$15M
Common Stock
$583.0K
$591.0K
$598.0K
$602.0K
$604.0K
$607.0K
$609.0K
$610.0K
$612.0K
$615.0K
·
$616.0K
$617.0K
$620.0K
·
$624.0K
Retained Earnings
$194M
$241M
$345M
$339M
$304M
$274M
$329M
$303M
$268M
$267M
·
$238M
$197M
$207M
·
$226M
AOCI
$-37M
$-36M
$-31M
$-30M
$-26M
$-30M
$-31M
$-26M
$-28M
$-28M
·
$-29M
$-27M
$-27M
·
$-29M
Stockholders' Equity
$158M
$205M
$315M
$309M
$279M
$245M
$299M
$278M
$241M
$240M
$278M
$210M
$171M
$181M
$227M
$198M
Liabilities + Equity
$699M
$741M
$839M
$769M
$745M
$708M
$758M
$698M
$665M
$675M
·
$573M
$527M
$531M
·
$515M
Shares Outstanding
58,300,070
59,164,492
59,845,291
60,256,442
60,468,401
60,714,813
60,921,191
61,072,619
61,245,638
61,569,549
·
61,562,480
61,668,512
62,026,840
·
62,394,460
Cash Flow11
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
D&A
$2M
$2M
$2M
$2M
$2M
$2M
$2M
$2M
$1M
$1M
$2M
$1M
$1M
$1M
$2M
$2M
Stock-based Comp
$29M
$27M
$31M
$28M
$24M
$29M
$23M
$24M
$25M
$22M
$18M
$19M
$18M
$17M
$15M
$15M
Restructuring
$8M
·
$0
$0
$8.0K
$3M
·
$0
$0
·
·
·
·
·
·
·
Operating Cash Flow
$91M
$84M
$147M
$93M
$74M
$75M
$105M
$62M
$73M
$55M
$88M
$59M
$41M
$59M
$55M
$40M
CapEx
$1M
$4M
$5M
$6M
$4M
$891.0K
$3M
$1M
$2M
$2M
$2M
$1M
$1M
$666.0K
$2M
$2M
Investing Cash Flow
$-1M
$-4M
$-5M
$-6M
$-4M
$-891.0K
$-3M
$-1M
$-2M
$-2M
$-2M
$-1M
$-1M
$-666.0K
$-2M
$-2M
Stock Repurchased
$127M
$179M
$77M
$52M
$50M
$136M
$45M
$52M
$76M
$114M
$331.0K
$27M
$67M
$102M
$25M
$51M
Net Stock Activity
·
$-179M
·
·
·
$-136M
·
·
·
$-114M
·
·
·
$-102M
·
·
Financing Cash Flow
$-127M
$-179M
$-77M
$-52M
$-50M
$-136M
$-45M
$-52M
$-76M
$-114M
$-331.0K
$-27M
$-67M
$-102M
$-25M
$-51M
Net Change in Cash
$-40M
$-103M
$65M
$33M
$25M
$-60M
$51M
$12M
$-5M
$-63M
$88M
$29M
$-28M
$-44M
$28M
$-17M
Free Cash Flow
·
$80M
·
·
·
$74M
·
·
·
$52M
·
·
·
$58M
·
·
Profitability7
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
Operating Margin
22.2%
23.0%
·
27.5%
27.1%
24.0%
·
28.2%
25.7%
22.6%
·
22.4%
21.9%
21.3%
·
18.6%
Net Margin
16.9%
17.5%
·
21.3%
20.8%
20.0%
·
23.9%
19.9%
21.1%
·
20.7%
17.2%
17.5%
·
15.0%
Pretax Margin
22.6%
24.6%
·
28.4%
27.4%
24.6%
·
28.6%
26.0%
23.0%
·
23.1%
22.3%
21.4%
·
19.4%
EBITDA Margin
22.2%
23.0%
·
27.5%
27.1%
24.0%
·
28.2%
25.7%
22.6%
·
22.4%
21.9%
21.3%
·
18.6%
ROA
7.0%
6.8%
·
8.0%
8.1%
7.6%
·
10.0%
8.8%
8.9%
·
9.1%
7.6%
7.4%
·
5.8%
ROE
23.1%
21.9%
·
20.0%
21.9%
21.7%
·
26.1%
25.7%
25.6%
·
24.2%
20.9%
19.5%
·
13.6%
ROIC
31.5%
22.5%
·
18.3%
20.2%
21.0%
·
22.6%
21.6%
22.1%
·
22.8%
22.8%
21.4%
·
14.3%
Liquidity & Solvency2
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
Current Ratio
1.0
1.1
·
1.3
1.2
1.1
·
1.2
1.2
1.2
·
1.2
1.1
1.2
·
1.3
Quick Ratio
0.9
1.0
·
1.2
1.1
1.0
·
1.1
1.1
1.1
·
1.1
1.0
1.1
·
1.2
Efficiency2
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
Asset Turnover
0.4
0.4
·
0.4
0.4
0.4
·
0.4
0.4
0.4
·
0.4
0.4
0.4
·
0.4
Receivables Turnover
1.4
1.3
·
1.3
1.4
1.3
·
1.4
1.4
1.4
·
1.5
1.5
1.5
·
1.5
Per Share5
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
Book Value / Share
$2.70
$3.47
·
$5.13
$4.61
$4.04
·
$4.55
$3.93
$3.89
·
$3.41
$2.77
$2.92
·
$3.18
Revenue / Share
$5.05
$4.70
·
$4.52
$4.46
$4.27
·
$4.30
$4.27
$4.07
·
$3.83
$3.70
$3.52
·
$3.14
Cash Flow / Share
·
$1.40
·
·
·
$1.22
·
·
·
$0.88
·
·
·
$0.94
·
·
Cash / Share
$3.19
$3.82
·
$4.37
$3.81
$3.39
·
$3.52
$3.31
$3.37
·
$2.96
$2.49
$2.93
·
$3.16
EPS (TTM)
$3.49
$3.57
·
$3.51
$3.58
$3.50
·
$3.52
$3.28
$3.06
·
$2.63
$2.31
$2.17
·
$1.76
Valuation (TTM)9
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
Revenue TTM
$1.13B
$1.10B
·
$1.07B
$1.06B
$1.05B
·
$1.02B
$997M
$962M
·
$889M
$848M
$809M
·
$740M
Net Income TTM
$210M
$217M
·
$216M
$221M
$217M
·
$219M
$205M
$192M
·
$166M
$146M
$137M
·
$112M
Market Cap
$8.12B
$7.88B
·
$12.35B
$11.94B
$10.51B
·
$17.18B
$15.11B
$15.41B
·
$12.17B
$12.33B
$9.60B
·
$8.30B
P/E
39.9
37.3
·
58.4
55.2
49.4
·
79.9
75.2
81.8
·
75.2
86.5
71.4
·
75.6
P/S
7.2
7.2
·
11.6
11.3
10.0
·
16.8
15.2
16.0
·
13.7
14.5
11.9
·
11.2
P/B
51.5
38.4
·
39.9
42.8
42.9
·
61.8
62.8
64.3
·
57.9
72.3
53.0
·
41.9
P / Tangible Book
85.2
55.1
·
50.0
55.1
57.5
·
79.7
84.7
86.9
·
82.3
113.8
80.8
·
61.1
P / Cash Flow
·
93.7
·
·
·
139.6
·
·
·
281.5
·
·
·
163.6
·
·
Earnings Yield
2.5%
2.7%
·
1.7%
1.8%
2.0%
·
1.2%
1.3%
1.2%
·
1.3%
1.2%
1.4%
·
1.3%
Most recent period on the left · null values shown as ·
Financial Statements
Income statement, balance sheet, cash flow — annual, last 5 years
16
Metric
2025-12-31
2024-12-31
2023-12-31
2022-12-31
2021-12-31
Revenue
$1.08B
$1.04B
$929M
$767M
$664M
Operating Margin %
25.9%
25.1%
22.6%
19.9%
20.2%
Net Income
$220M
$218M
$177M
$129M
$110M
Diluted EPS
$3.60
$3.51
$2.82
$2.03
$1.72
Metric
2025-12-31
2024-12-31
2023-12-31
2022-12-31
2021-12-31
Current Ratio
1.3
1.3
1.3
1.3
1.6
Quick Ratio
1.2
1.2
1.2
1.2
1.6
Metric
2025-12-31
2024-12-31
2023-12-31
2022-12-31
2021-12-31
Free Cash Flow
$374M
$286M
$241M
$173M
$181M
Institutional owners (13F)
550 filers
· $9.6B total
· As of Sept. 30, 2026
17
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders550
Value held$9.6B
New positions61
Exited positions79
Institutional activity — Q2 2026 vs prior quarter
New positions
Exited positions
Increased
Decreased
Net shares change
61 (-25 vs prior Q)
79 (-24 vs prior Q)
177 (-15 vs prior Q)
203 (+19 vs prior Q)
+410K
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.