VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 2, 2026

Stock Comparison

Constellation Software Inc. vs Manhattan Associates, Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Constellation Software Inc.

CSU · Toronto Stock Exchange

Market cap (USD)
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryCA
Data as of2026-01-02
Moat score
74/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Constellation Software Inc.'s moat claims, evidence, and risks.

View CSU analysis

Manhattan Associates, Inc.

MANH · The Nasdaq Stock Market LLC

Market cap (USD)$10.1B
Gross margin (TTM)55.9%
Operating margin (TTM)25.9%
Net margin (TTM)20.3%
SectorTechnology
IndustrySoftware - Application
CountryUS
Data as of2025-12-28
Moat score
56/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Manhattan Associates, Inc.'s moat claims, evidence, and risks.

View MANH analysis

Comparison highlights

  • Moat score gap: Constellation Software Inc. leads (74 / 100 vs 56 / 100 for Manhattan Associates, Inc.).
  • Segment focus: Constellation Software Inc. has 6 segments; Manhattan Associates, Inc. has 4 segments (50.4% in Professional services (implementation, consulting, training)).
  • Primary market structure: Competitive vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: Constellation Software Inc. has 3 moat types across 2 domains; Manhattan Associates, Inc. has 7 across 1.

Primary market context

Constellation Software Inc.

Volaris Operating Group

Market

Vertical market software (VMS) portfolios across diverse industries (Volaris)

Geography

Global (North America, Continental Europe, UK, Australia, South America, Africa)

Customer

Organizations in specific verticals (mix of public and private sector)

Role

Vertical market software vendor (application provider + long-term maintainer)

Manhattan Associates, Inc.

Professional services (implementation, consulting, training)

Market

Supply chain & omnichannel software implementation and consulting services

Geography

Global

Customer

Enterprises implementing or expanding supply chain/omnichannel systems

Role

Implementation and advisory services provider

Revenue share

50.4%

Side-by-side metrics

Constellation Software Inc.
Manhattan Associates, Inc.
Ticker / Exchange
CSU - Toronto Stock Exchange
MANH - The Nasdaq Stock Market LLC
Market cap (USD)
n/a
$10.1B
Gross margin (TTM)
n/a
55.9%
Operating margin (TTM)
n/a
25.9%
Net margin (TTM)
n/a
20.3%
Sector
Technology
Technology
Industry
n/a
Software - Application
HQ country
CA
US
Primary segment
Volaris Operating Group
Professional services (implementation, consulting, training)
Market structure
Competitive
Competitive
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
74 / 100
56 / 100
Moat domains
Demand, Supply
Demand
Last update
2026-01-02
2025-12-28

Moat coverage

Shared moat types

Switching Costs GeneralInstalled Base Consumables

Constellation Software Inc. strengths

Operational Excellence

Manhattan Associates, Inc. strengths

Suite BundlingData Workflow LockinLong Term ContractsReputation ReviewsProcurement Inertia

Segment mix

Constellation Software Inc. segments

Full profile >

Volaris Operating Group

Competitive

n/a

Harris Operating Group

Competitive

n/a

Topicus.com Operating Group

Competitive

n/a

Jonas Operating Group

Competitive

n/a

Perseus Operating Group

Competitive

n/a

Vela Operating Group

Competitive

n/a

Manhattan Associates, Inc. segments

Full profile >

Cloud subscriptions (Manhattan Active SaaS)

Oligopoly

32.4%

Professional services (implementation, consulting, training)

Competitive

50.4%

Maintenance and support (legacy perpetual licenses)

Monopoly

13.3%

Perpetual licenses and hardware

Competitive

4%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.