Manhattan Associates Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	219.95	218.36	176.57	128.96	110.47
Depreciation & Amortization	6.32	6.3	5.75	6.66	7.91
Loss (Gain) From Sale of Assets	-0.02	-0.13	0.06	-0.09	0.01
Stock-Based Compensation	111.26	93.21	71.57	59.36	43.26
Other Operating Activities	18.09	-29.07	-27.56	-31.23	-2.41
Change in Accounts Receivable	-3.58	-26.7	-13.08	-44.06	-16.65
Change in Accounts Payable	-0.23	1.25	18.12	11.79	12.26
Change in Unearned Revenue	52.1	42.19	27.14	57.71	40.53
Change in Income Taxes	0.32	-6.24	-1.42	0.77	-3.67
Change in Other Net Operating Assets	-14.73	-4.16	-10.93	-10.25	-6.53
Operating Cash Flow	389.47	295	246.22	179.63	185.18
Operating Cash Flow Growth	32.02%	19.81%	37.07%	-3.00%	31.44%
Capital Expenditures	-15.46	-8.68	-4.73	-6.59	-4.02
Investing Cash Flow	-15.46	-8.68	-4.73	-6.59	-4.02
Repurchase of Common Stock	-315.16	-286.37	-196.05	-204.46	-120.42
Financing Cash Flow	-315.16	-286.37	-196.05	-204.46	-120.42
Foreign Exchange Rate Adjustments	3.67	-4.47	-0.16	-6.83	-1.75
Net Cash Flow	62.52	-4.51	45.28	-38.24	59
Free Cash Flow	374.01	286.33	241.49	173.04	181.17
Free Cash Flow Growth	30.62%	18.57%	39.55%	-4.48%	31.13%
Free Cash Flow Margin	34.59%	27.47%	26.00%	22.56%	27.30%
Free Cash Flow Per Share	6.13	4.61	3.86	2.73	2.82
Cash Income Tax Paid	-	83.4	67.38	58.02	29.16
Levered Free Cash Flow	320.42	256.6	235.55	176.23	167.79
Unlevered Free Cash Flow	320.42	256.6	235.55	176.23	167.79
Change in Working Capital	33.87	6.33	19.83	15.96	25.94

Source: S&P Global Market Intelligence. Standard template. Financial Sources.