NYSE : MANU
Manchester United plc — Financial statements
Communication Services · Entertainment · United Kingdom
Last price 20.98 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 3.62B
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Financial statements
Manchester United plc (MANU) reported revenue of 677.65M GBP (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year July - June; amounts in GBP.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 677.65M | 677.65M | 666.51M | 661.75M | 648.40M | 583.20M |
| Cost of Revenue | 118.25M | 118.25M | 117.68M | 93.74M | 101.23M | 69.27M |
| Gross Profit | 559.40M | 559.40M | 548.83M | 568.02M | 547.17M | 513.93M |
| Selling, General & Admin | 317.62M | 317.62M | 334.07M | 393.31M | 363.16M | 405.11M |
| Amortization of Goodwill & Intangibles | 211.81M | 211.81M | 196.37M | 190.12M | 172.68M | 151.46M |
| Other Operating Expenses | 21.74M | 21.74M | 28.34M | 25.02M | 26.10M | 27.63M |
| Operating Expenses | 571.80M | 571.80M | 575.78M | 624.97M | 575.79M | 598.51M |
| Operating Income | -12.40M | -12.40M | -26.95M | -56.96M | -28.61M | -84.58M |
| Interest Expense | -39.56M | -39.56M | -39.64M | -38.78M | -34.99M | -23.84M |
| Interest & Investment Income | 2.09M | 2.09M | 3.42M | 1.71M | 728.00K | 145.00K |
| Currency Exchange Gain (Loss) | -13.66M | -13.66M | 16.70M | -11.54M | 17.78M | -35.26M |
| Other Non Operating Income (Expenses) | -22.12M | -22.12M | -5.31M | -14.81M | -7.91M | -3.33M |
| EBT Excluding Unusual Items | -85.66M | -85.66M | -51.78M | -120.37M | -53.00M | -146.87M |
| Merger & Restructuring Charges | -2.54M | -2.54M | -19.73M | |||
| Gain (Loss) on Sale of Assets | 46.88M | 46.88M | 48.74M | 37.42M | 20.42M | 21.93M |
| Other Unusual Items | -5.67M | -5.67M | -16.89M | -47.78M | -24.69M | |
| Pretax Income | -46.98M | -46.98M | -39.66M | -130.72M | -32.57M | -149.62M |
| Income Tax Expense | -4.03M | -4.03M | -6.64M | -17.57M | -3.90M | -34.11M |
| Net Income | -42.95M | -42.95M | -33.02M | -113.16M | -28.68M | -115.51M |
| Net Income to Common | -42.95M | -42.95M | -33.02M | -113.16M | -28.68M | -115.51M |
| Shares Outstanding (Basic) | 172.43M | 172.43M | 170.93M | 165.34M | 164.75M | 163.00M |
| Shares Outstanding (Diluted) | 172.43M | 172.43M | 170.93M | 165.34M | 164.75M | 163.00M |
| EPS (Basic) | -0.25 | -0.25 | -0.19 | -0.68 | -0.17 | -0.71 |
| EPS (Diluted) | -0.25 | -0.25 | -0.19 | -0.68 | -0.18 | -0.71 |
| Free Cash Flow | 92.80M | 92.80M | 27.98M | 68.16M | 80.16M | 88.05M |
| Free Cash Flow Per Share | 0.54 | 0.54 | 0.16 | 0.41 | 0.49 | 0.54 |
| Dividend Per Share | 0.15 | |||||
| Gross Margin | 82.55% | 82.55% | 82.34% | 85.83% | 84.39% | 88.12% |
| Operating Margin | -1.83% | -1.83% | -4.04% | -8.61% | -4.41% | -14.50% |
| Profit Margin | -6.34% | -6.34% | -4.96% | -17.10% | -4.42% | -19.81% |
| Free Cash Flow Margin | 13.69% | 13.69% | 4.20% | 10.30% | 12.36% | 15.10% |
| EBITDA | 10.81M | 10.81M | -7.73M | 148.44M | 156.22M | 79.45M |
| EBITDA Margin | 1.60% | 1.60% | -1.16% | 22.43% | 24.09% | 13.62% |
| D&A For EBITDA | 23.21M | 23.21M | 19.22M | 205.40M | 184.84M | 164.03M |
| EBIT | -12.40M | -12.40M | -26.95M | -56.96M | -28.61M | -84.58M |
| EBIT Margin | -1.83% | -1.83% | -4.04% | -8.61% | -4.41% | -14.50% |
Balance sheet
Fiscal year July - June; amounts in GBP.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 67.25M | 67.25M | 86.11M | 73.55M | 76.02M | 121.22M |
| Trading Asset Securities | 4.17M | |||||
| Cash & Short-Term Investments | 67.25M | 67.25M | 86.11M | 73.55M | 80.19M | 121.22M |
| Accounts Receivable | 116.45M | 116.45M | 153.26M | 76.78M | 74.50M | 85.45M |
| Other Receivables | 1.12M | 1.12M | 13.69M | 2.73M | 15.24M | 6.16M |
| Receivables | 117.56M | 117.56M | 166.95M | 79.51M | 89.74M | 91.61M |
| Inventory | 12.22M | 12.22M | 13.05M | 3.54M | 3.17M | 2.20M |
| Prepaid Expenses | 18.34M | 18.34M | 17.44M | 18.76M | 16.49M | 15.53M |
| Other Current Assets | 472.00K | 1.92M | 4.14M | 6.60M | ||
| Total Current Assets | 215.37M | 215.37M | 284.02M | 177.28M | 193.73M | 237.16M |
| Property, Plant & Equipment | 360.20M | 360.20M | 299.48M | 264.31M | 262.04M | 246.73M |
| Long-Term Investments | 2.46M | |||||
| Goodwill | 421.45M | 421.45M | 421.45M | 421.45M | 421.45M | 421.45M |
| Other Intangible Assets | 7.52M | 7.52M | 7.66M | 7.53M | 6.04M | 5.61M |
| Long-Term Accounts Receivable | 42.91M | 42.91M | 43.42M | 27.93M | 22.30M | 29.76M |
| Long-Term Deferred Tax Assets | 30.00M | 30.00M | 24.93M | 17.61M | ||
| Long-Term Deferred Charges | 452.29M | 452.29M | 537.35M | 408.58M | 384.88M | 316.21M |
| Other Long-Term Assets | 19.15M | 19.15M | 19.43M | 20.09M | 27.48M | 34.28M |
| Total Assets | 1.55B | 1.55B | 1.64B | 1.34B | 1.32B | 1.29B |
| Accounts Payable | 225.00M | 225.00M | 269.16M | 165.45M | 142.06M | 91.56M |
| Accrued Expenses | 95.35M | 95.35M | 87.78M | 81.24M | 82.87M | 111.09M |
| Short-Term Debt | 110.00M | 110.00M | 160.00M | 30.00M | 100.00M | 100.00M |
| Current Portion of Long-Term Debt | 1.40M | 1.40M | 5.12M | 5.57M | 5.96M | 5.76M |
| Current Portion of Leases | 465.00K | 465.00K | 572.00K | 934.00K | 1.04M | 1.56M |
| Current Income Taxes Payable | 407.00K | 407.00K | 566.00K | 427.00K | ||
| Current Unearned Revenue | 210.81M | 210.81M | 205.49M | 198.63M | 169.62M | 165.85M |
| Other Current Liabilities | 14.46M | 14.46M | 21.69M | 12.74M | 25.32M | 19.03M |
| Total Current Liabilities | 657.90M | 657.90M | 750.37M | 494.99M | 526.87M | 494.84M |
| Long-Term Debt | 577.55M | 577.55M | 471.86M | 511.05M | 507.33M | 530.37M |
| Long-Term Leases | 2.81M | 2.81M | 7.90M | 7.71M | 7.84M | 2.87M |
| Long-Term Unearned Revenue | 2.68M | 2.68M | 5.92M | 5.35M | 6.66M | 16.70M |
| Long-Term Deferred Tax Liabilities | 3.30M | 7.40M | ||||
| Other Long-Term Liabilities | 157.60M | 157.60M | 207.96M | 180.81M | 161.98M | 113.98M |
| Total Liabilities | 1.40B | 1.40B | 1.44B | 1.20B | 1.21B | 1.17B |
| Common Stock | 56.00K | 56.00K | 56.00K | 55.00K | 53.00K | 53.00K |
| Additional Paid-In Capital | 307.35M | 307.35M | 307.35M | 227.36M | 68.82M | 68.82M |
| Retained Earnings | -384.13M | -384.13M | -341.62M | -309.25M | -196.65M | -170.04M |
| Treasury Stock | -21.30M | -21.30M | -21.30M | -21.30M | -21.30M | -21.30M |
| Comprehensive Income & Other | 248.39M | 248.39M | 249.25M | 248.03M | 253.03M | 249.98M |
| Shareholders' Equity | 150.36M | 150.36M | 193.73M | 144.89M | 103.95M | 127.51M |
| Total Liabilities & Equity | 1.55B | 1.55B | 1.64B | 1.34B | 1.32B | 1.29B |
| Total Debt | 692.22M | 692.22M | 645.45M | 555.26M | 622.18M | 640.55M |
| Net Cash (Debt) | -624.98M | -624.98M | -559.34M | -481.71M | -541.98M | -519.33M |
| Net Cash Per Share | -3.62 | -3.62 | -3.27 | -2.91 | -3.29 | -3.19 |
| Filing Date Shares Outstanding | 172.49M | 172.49M | 172.43M | 169.32M | 162.50M | 163.06M |
| Total Common Shares Outstanding | 172.49M | 172.49M | 172.43M | 169.32M | 163.16M | 163.06M |
| Working Capital | -442.52M | -442.52M | -466.36M | -317.71M | -333.14M | -257.68M |
| Book Value Per Share | 0.87 | 0.87 | 1.12 | 0.86 | 0.64 | 0.78 |
| Tangible Book Value | -278.61M | -278.61M | -235.38M | -284.10M | -323.55M | -299.56M |
| Tangible Book Value Per Share | -1.62 | -1.62 | -1.37 | -1.68 | -1.98 | -1.84 |
| Machinery | 153.92M | 153.92M | 127.64M | 124.70M | 122.58M | 114.96M |
| Construction In Progress | 42.01M |
Cash flow statement
Fiscal year July - June; amounts in GBP.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | -42.95M | -42.95M | -33.02M | -113.16M | -28.68M | -115.51M |
| Depreciation & Amortization | 24.02M | 24.02M | 20.27M | 206.65M | 186.53M | 165.78M |
| Other Amortization | 210.95M | 210.95M | 195.05M | 1.55M | 745.00K | 713.00K |
| Loss (Gain) From Sale of Assets | -46.88M | -46.88M | -48.74M | -37.42M | -20.42M | -21.93M |
| Stock-Based Compensation | 243.00K | 243.00K | 658.00K | 875.00K | 1.75M | 198.00K |
| Other Operating Activities | 29.07M | 29.07M | -19.87M | 12.51M | -13.08M | 1.46M |
| Change in Accounts Receivable | 17.64M | 17.64M | -65.99M | 5.91M | 17.34M | 3.79M |
| Change in Inventory | 832.00K | 832.00K | -9.51M | -378.00K | -965.00K | -120.00K |
| Change in Accounts Payable | -26.40M | -26.40M | 29.00M | -18.90M | -31.14M | 22.48M |
| Change in Unearned Revenue | 2.09M | 2.09M | 7.43M | 27.69M | -6.26M | 41.62M |
| Change in Other Net Operating Assets | 10.10M | 10.10M | -2.56M | 349.00K | -10.05M | -2.09M |
| Operating Cash Flow | 178.72M | 178.72M | 72.70M | 85.67M | 95.77M | 96.37M |
| Capital Expenditures | -85.92M | -85.92M | -44.72M | -17.51M | -15.61M | -8.32M |
| Sale (Purchase) of Intangibles | -143.66M | -143.66M | -229.95M | -153.69M | -124.55M | -85.11M |
| Investing Cash Flow | -229.57M | -229.57M | -274.68M | -171.20M | -140.16M | -93.43M |
| Long-Term Debt Issued | 639.41M | 639.41M | 230.00M | 160.00M | 100.00M | 40.00M |
| Long-Term Debt Repaid | -596.94M | -596.94M | -100.40M | -230.98M | -101.95M | -1.41M |
| Lease Payments | -1.71M | -1.71M | -403.00K | -976.00K | -1.95M | -1.41M |
| Net Debt Issued (Repaid) | 42.47M | 42.47M | 129.60M | -70.98M | -1.95M | 38.59M |
| Issuance of Common Stock | 79.98M | 158.54M | ||||
| Common Dividends Paid | -33.55M | |||||
| Other Financing Activities | -7.16M | -7.16M | -1.33M | |||
| Financing Cash Flow | 35.31M | 35.31M | 209.58M | 86.23M | -1.95M | 5.04M |
| Foreign Exchange Rate Adjustments | -3.31M | -3.31M | 4.95M | -3.17M | 1.14M | 2.58M |
| Net Cash Flow | -18.86M | -18.86M | 12.56M | -2.47M | -45.20M | 10.56M |
| Free Cash Flow | 92.80M | 92.80M | 27.98M | 68.16M | 80.16M | 88.05M |
| Free Cash Flow Margin | 13.69% | 13.69% | 4.20% | 10.30% | 12.36% | 15.10% |
| Free Cash Flow Per Share | 0.54 | 0.54 | 0.16 | 0.41 | 0.49 | 0.54 |
| Levered Free Cash Flow | -14.17M | -14.17M | -67.38M | 27.55M | 45.50M | 62.61M |
| Unlevered Free Cash Flow | 8.03M | 8.03M | -44.55M | 50.24M | 66.62M | 76.79M |
| Free Cash Flow After Leases | 91.08M | 91.08M | 27.58M | 67.18M | 78.21M | 86.64M |
| Cash Interest Paid | 38.84M | 38.84M | 37.20M | 37.23M | 31.95M | 20.64M |
| Cash Income Tax Paid | 708.00K | 708.00K | 948.00K | -3.75M | 1.63M | 4.84M |
| Change in Working Capital | 4.26M | 4.26M | -41.63M | 14.67M | -31.08M | 65.67M |
Ratios
Fiscal year July - June; amounts in GBP.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.69B | 3.95B | 3.04B | 2.70B | 3.98B | 1.81B |
| Enterprise Value | 4.52B | 4.87B | 3.88B | 3.62B | 4.79B | 2.47B |
| Last Close Price | 21.06 | 22.93 | 17.81 | 16.14 | 24.38 | 11.12 |
| Forward PE | 132.96 | 48.52 | 216.66 | 126.14 | 126.14 | 126.14 |
| PS Ratio | 4.08 | 4.40 | 3.33 | 3.23 | 4.83 | 2.56 |
| PB Ratio | 18.21 | 19.82 | 11.45 | 14.77 | 30.09 | 11.70 |
| P/FCF Ratio | 29.48 | 32.11 | 79.29 | 31.39 | 39.03 | 16.94 |
| P/OCF Ratio | 15.31 | 16.68 | 30.52 | 24.98 | 32.66 | 15.48 |
| PEG Ratio | 36.60 | 36.60 | 36.60 | 36.60 | 36.60 | |
| EV/Sales Ratio | 5.00 | 5.42 | 4.25 | 4.33 | 5.81 | 3.49 |
| EV/EBITDA Ratio | 313.44 | 339.54 | 19.28 | 24.10 | 25.59 | |
| EV/FCF Ratio | 36.15 | 39.57 | 101.15 | 41.99 | 46.98 | 23.09 |
| Debt / Equity Ratio | 4.60 | 4.60 | 3.33 | 3.83 | 5.99 | 5.02 |
| Debt / EBITDA Ratio | 59.56 | 59.56 | 3.71 | 3.94 | 7.89 | |
| Debt / FCF Ratio | 7.46 | 7.46 | 23.07 | 8.15 | 7.76 | 7.28 |
| Net Debt / Equity Ratio | 4.16 | 4.16 | 2.89 | 3.33 | 5.21 | 4.07 |
| Net Debt / EBITDA Ratio | 57.79 | 57.79 | -72.34 | 3.25 | 3.47 | 6.54 |
| Net Debt / FCF Ratio | 6.74 | 6.74 | 19.99 | 7.07 | 6.76 | 5.90 |
| Asset Turnover | 0.42 | 0.42 | 0.45 | 0.50 | 0.50 | 0.46 |
| Inventory Turnover | 9.36 | 9.36 | 14.18 | 27.95 | 37.74 | 32.37 |
| Quick Ratio | 0.28 | 0.28 | 0.34 | 0.31 | 0.32 | 0.43 |
| Current Ratio | 0.33 | 0.33 | 0.38 | 0.36 | 0.37 | 0.48 |
| Return on Equity (ROE) | -24.97% | -24.97% | -19.50% | -90.95% | -24.78% | -57.75% |
| Return on Assets (ROA) | -0.49% | -0.49% | -1.13% | -2.67% | -1.37% | -4.14% |
| Return on Invested Capital (ROIC) | -1.50% | -1.62% | -3.91% | -8.95% | -4.43% | -12.54% |
| Return on Capital Employed (ROCE) | -1.40% | -1.40% | -3.00% | -6.70% | -3.60% | -10.60% |
| Earnings Yield | -1.54% | -1.44% | -1.49% | -5.29% | -0.92% | -7.74% |
| FCF Yield | 3.39% | 3.11% | 1.26% | 3.19% | 2.56% | 5.90% |
| Dividend Yield | 1.62% | |||||
| Buyback Yield / Dilution | -0.88% | -0.88% | -3.38% | -0.36% | -1.07% | -0.04% |
| Total Shareholder Return | -0.88% | -0.88% | -3.38% | -0.36% | -1.07% | 1.58% |