Comprehensive Stock Comparison
Compare Grab Holdings Limited (GRAB) vs Manhattan Associates, Inc. (MANH) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | GRAB | 20.5% revenue growth vs MANH's 3.7% |
| Value | MANH | Lower P/E (26.0x vs 38.5x) |
| Quality / Margins | MANH | 20.3% net margin vs GRAB's 7.9% |
| Stability / Safety | MANH | Beta 1.37 vs GRAB's 1.41 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | GRAB | -13.0% vs MANH's -23.4% |
| Efficiency (ROA) | MANH | 26.2% ROA vs GRAB's 2.2%, ROIC 236.8% vs 3.3% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Grab is a Southeast Asian superapp that offers ride-hailing, food delivery, and digital financial services through a single mobile platform. It generates revenue primarily from its mobility segment — which includes ride-hailing and taxi services — and its deliveries segment — mainly food and grocery delivery — with financial services and enterprise offerings contributing smaller portions. The company's key advantage is its dominant first-mover position across Southeast Asia, creating a powerful network effect where its massive user base attracts more drivers and merchants, which in turn draws more users.
Manhattan Associates is a supply chain and omnichannel commerce software provider that helps companies manage inventory, logistics, and retail operations. It generates revenue primarily through software license sales (~40%), maintenance and support services (~35%), and professional implementation services (~25%). The company's competitive advantage lies in its deep domain expertise and integrated platform approach—spanning warehouse management, transportation, and omnichannel solutions—which creates switching costs for enterprise clients.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
MANH leads in 3 of 6 categories (Financial Metrics, Valuation Metrics). GRAB leads in 1 (Total Returns). 1 tied.
Financial Metrics (TTM)
GRAB is the larger business by revenue, generating $3.4B annually — 3.1x MANH's $1.1B. MANH is the more profitable business, keeping 20.3% of every revenue dollar as net income compared to GRAB's 7.9%. On growth, GRAB holds the edge at +18.6% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | GRABGrab Holdings Lim… | MANHManhattan Associa… |
|---|---|---|
| RevenueTrailing 12 months | $3.4B | $1.1B |
| EBITDAEarnings before interest/tax | $285M | $286M |
| Net IncomeAfter-tax profit | $267M | $220M |
| Free Cash FlowCash after capex | -$2M | $374M |
| Gross MarginGross profit ÷ Revenue | +43.2% | +55.9% |
| Operating MarginEBIT ÷ Revenue | +3.2% | +25.9% |
| Net MarginNet income ÷ Revenue | +7.9% | +20.3% |
| FCF MarginFCF ÷ Revenue | -0.1% | +34.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | +18.6% | +5.7% |
| EPS Growth (YoY)Latest quarter vs prior year | — | +11.7% |
Valuation Metrics
At 37.6x trailing earnings, MANH trades at a 43% valuation discount to GRAB's 66.2x P/E. On an enterprise value basis, MANH's 27.3x EV/EBITDA is more attractive than GRAB's 40.6x.
| Metric | GRABGrab Holdings Lim… | MANHManhattan Associa… |
|---|---|---|
| Market CapShares × price | $16.7B | $8.1B |
| Enterprise ValueMkt cap + debt − cash | $15.4B | $7.9B |
| Trailing P/EPrice ÷ TTM EPS | 66.25x | 37.62x |
| Forward P/EPrice ÷ next-FY EPS est. | 38.54x | 25.97x |
| PEG RatioP/E ÷ EPS growth rate | — | 1.75x |
| EV / EBITDAEnterprise value multiple | 40.55x | 27.29x |
| Price / SalesMarket cap ÷ Revenue | 4.97x | 7.49x |
| Price / BookPrice ÷ Book value/share | 2.63x | 26.27x |
| Price / FCFMarket cap ÷ FCF | 124.99x | 21.67x |
Profitability & Efficiency
MANH delivers a 69.9% return on equity — every $100 of shareholder capital generates $70 in annual profit, vs $4 for GRAB. GRAB carries lower financial leverage with a 0.30x debt-to-equity ratio, signaling a more conservative balance sheet compared to MANH's 0.36x. On the Piotroski fundamental quality scale (0–9), MANH scores 6/9 vs GRAB's 4/9, reflecting solid financial health.
| Metric | GRABGrab Holdings Lim… | MANHManhattan Associa… |
|---|---|---|
| ROE (TTM)Return on equity | +4.0% | +69.9% |
| ROA (TTM)Return on assets | +2.2% | +26.2% |
| ROICReturn on invested capital | +3.3% | +2.4% |
| ROCEReturn on capital employed | +2.9% | +76.3% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 6 |
| Debt / EquityFinancial leverage | 0.30x | 0.36x |
| Net DebtTotal debt minus cash | -$1.4B | -$216M |
| Cash & Equiv.Liquid assets | $3.4B | $329M |
| Total DebtShort + long-term debt | $2.1B | $112M |
| Interest CoverageEBIT ÷ Interest expense | 3.39x | — |
Total Returns (with DRIP)
A $10,000 investment in MANH five years ago would be worth $10,428 today (with dividends reinvested), compared to $3,274 for GRAB. Over the past 12 months, GRAB leads with a -13.0% total return vs MANH's -23.4%. The 3-year compound annual growth rate (CAGR) favors GRAB at 9.5% vs MANH's -2.0% — a key indicator of consistent wealth creation.
| Metric | GRABGrab Holdings Lim… | MANHManhattan Associa… |
|---|---|---|
| YTD ReturnYear-to-date | -16.9% | -19.0% |
| 1-Year ReturnPast 12 months | -13.0% | -23.4% |
| 3-Year ReturnCumulative with dividends | +31.5% | -5.8% |
| 5-Year ReturnCumulative with dividends | -67.3% | +4.3% |
| 10-Year ReturnCumulative with dividends | -64.5% | +145.1% |
| CAGR (3Y)Annualised 3-year return | +9.5% | -2.0% |
Risk & Volatility
MANH is the less volatile stock with a 1.37 beta — it tends to amplify market swings less than GRAB's 1.41 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. GRAB currently trades 63.7% from its 52-week high vs MANH's 54.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | GRABGrab Holdings Lim… | MANHManhattan Associa… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.41x | 1.37x |
| 52-Week HighHighest price in past year | $6.62 | $247.22 |
| 52-Week LowLowest price in past year | $3.36 | $127.86 |
| % of 52W HighCurrent price vs 52-week peak | +63.7% | +54.8% |
| RSI (14)Momentum oscillator 0–100 | 46.9 | 42.0 |
| Avg Volume (50D)Average daily shares traded | 43.1M | 696K |
Analyst Outlook
Wall Street rates GRAB as "Buy" and MANH as "Buy". Consensus price targets imply 71.1% upside for MANH (target: $232) vs 56.4% for GRAB (target: $7).
| Metric | GRABGrab Holdings Lim… | MANHManhattan Associa… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $6.60 | $231.71 |
| # AnalystsCovering analysts | 12 | 15 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | 2 |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +1.6% | +3.9% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Dec 20 | Feb 26 | Change |
|---|---|---|---|
| Grab Holdings Limit… (GRAB) | 100 | 37.09 | -62.9% |
| Manhattan Associate… (MANH) | 100 | 145.38 | +45.4% |
Manhattan Associate… (MANH) returned +4% over 5 years vs Grab Holdings Limit… (GRAB)'s -67%. A $10,000 investment in MANH 5 years ago would be worth $10,428 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Grab Holdings Limit… (GRAB) | $-845M | $3.4B | +498.8% |
| Manhattan Associate… (MANH) | $605M | $1.1B | +78.9% |
Manhattan Associates, Inc.'s revenue grew from $605M (2016) to $1.1B (2025) — a 6.7% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Grab Holdings Limit… (GRAB) | 4.4% | 8.0% | +79.3% |
| Manhattan Associate… (MANH) | 20.5% | 20.3% | -1.0% |
Manhattan Associates, Inc.'s net margin went from 21% (2016) to 20% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Manhattan Associate… (MANH) | 29.5 | 48.1 | +63.1% |
Manhattan Associates, Inc. has traded in a 27x–90x P/E range over 9 years; current trailing P/E is ~38x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Grab Holdings Limit… (GRAB) | -0.95 | 0.06 | +106.7% |
| Manhattan Associate… (MANH) | 1.72 | 3.6 | +109.3% |
Manhattan Associates, Inc.'s EPS grew from $1.72 (2016) to $3.60 (2025) — a 9% CAGR.
Chart 6Free Cash Flow — 5 Years
Grab Holdings Limited generated $134M FCF in 2025 (+113% vs 2021). Manhattan Associates, Inc. generated $374M FCF in 2025 (+106% vs 2021).
GRAB vs MANH: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is GRAB or MANH a better buy right now?
Manhattan Associates, Inc. (MANH) offers the better valuation at 37.6x trailing P/E (26.0x forward), making it the more compelling value choice. Analysts rate Grab Holdings Limited (GRAB) a "Buy" — based on 12 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — GRAB or MANH?
On trailing P/E, Manhattan Associates, Inc. (MANH) is the cheapest at 37.6x versus Grab Holdings Limited at 66.2x. On forward P/E, Manhattan Associates, Inc. is actually cheaper at 26.0x.
03Which is the better long-term investment — GRAB or MANH?
Over the past 5 years, Manhattan Associates, Inc. (MANH) delivered a total return of +4.3%, compared to -67.3% for Grab Holdings Limited (GRAB). A $10,000 investment in MANH five years ago would be worth approximately $10K today (assuming dividends reinvested). Over 10 years, the gap is even starker: MANH returned +145.1% versus GRAB's -64.5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — GRAB or MANH?
By beta (market sensitivity over 5 years), Manhattan Associates, Inc. (MANH) is the lower-risk stock at 1.37β versus Grab Holdings Limited's 1.41β — meaning GRAB is approximately 3% more volatile than MANH relative to the S&P 500. On balance sheet safety, Grab Holdings Limited (GRAB) carries a lower debt/equity ratio of 30% versus 36% for Manhattan Associates, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — GRAB or MANH?
Manhattan Associates, Inc. (MANH) is the more profitable company, earning 20.3% net margin versus 8.0% for Grab Holdings Limited — meaning it keeps 20.3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MANH leads at 26.1% versus 6.0% for GRAB. At the gross margin level — before operating expenses — MANH leads at 55.7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is GRAB or MANH more undervalued right now?
On forward earnings alone, Manhattan Associates, Inc. (MANH) trades at 26.0x forward P/E versus 38.5x for Grab Holdings Limited — 12.6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for MANH: 71.1% to $231.71.
07Which pays a better dividend — GRAB or MANH?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is GRAB or MANH better for a retirement portfolio?
For long-horizon retirement investors, Manhattan Associates, Inc. (MANH) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (+145.1% 10Y return). Both have compounded well over 10 years (MANH: +145.1%, GRAB: -64.5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between GRAB and MANH?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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