Manhattan Associates Inc (MANH)

Debt-to-capital ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	278,278	210,105	170,550	181,072	226,800	198,134	208,735	217,136	250,644	238,627	212,450	204,660	218,897	187,977	152,778	125,869	142,278	151,650	154,687	145,400
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $278,278K)
= 0.00

Based on the data provided for Manhattan Associates, Inc., the debt-to-capital ratio has consistently remained at 0.00 across all quarters from Q1 2022 to Q4 2023. A debt-to-capital ratio of 0.00 indicates that the company has not utilized any debt to finance its operations or investments during this period. This may suggest that Manhattan Associates has been primarily relying on equity financing or other non-debt sources to fund its activities. It could also imply a conservative financial strategy focused on maintaining a strong capital structure with low leverage. Further analysis would be required to understand the specific reasons behind the company's consistent debt-free stance and its implications for the overall financial health and risk profile of Manhattan Associates, Inc.