Guidewire Software vs Manhattan Associates
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KIRA’s take AI analyst
I put Guidewire Software and Manhattan Associates side by side, using each one’s latest annual report. Here is what stands out:
- Guidewire Software is the larger business, with $1.5B of revenue in fiscal 2026 against $1.1B for Manhattan Associates.
- Guidewire Software grew revenue faster (22.7%, against 3.8%).
- Manhattan Associates kept more of each dollar of sales as operating profit (25.9% operating margin, against 10.2%).
- Manhattan Associates turned more of its sales into free cash flow (34.6% FCF margin, against 25.6%).
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Guidewire Software
GWRE
4/10
Revenue growth5-year growthGross marginPiotroski F-score
Manhattan Associates
MANH
6/10
Operating marginNet marginFCF marginReturn on equityNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | GWRE FY26 | MANH FY25 |
|---|---|---|
| Size | ||
| Market cap | $16.1B | $14.1B |
| Revenue | $1.5B | $1.1B |
| Free cash flow | $378M | $374M |
| Net income | $139M | $220M |
| Growth | ||
| Revenue growth | 22.7% | 3.8% |
| 5-year growth | 14.7% | 13.0% |
| Share count change | −0.6% | −1.8% |
| Profitability | ||
| Gross margin | 64.2% | 56.3% |
| Operating margin | 10.2% | 25.9% |
| Net margin | 9.4% | 20.3% |
| FCF margin | 25.6% | 34.6% |
| Return on capital | 12.1% | — |
| Return on equity | 10.5% | 71.7% |
| Balance sheet | ||
| Net debt | −$75.0M | −$329M |
| Net debt / EBITDA | −0.4x | −1.2x |
| Dividends and buybacks | $606M | $315M |
| Valuation & quality | ||
| P/E | — | 68.4x |
| Piotroski F-score | 8 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.