(MANU) Manchester United - Overview

Sector: Communication Services | Industry: Entertainment | Exchange: NYSE (USA) | Market Cap: 3.042m USD | Total Return: 25% in 12m

Broadcasting, Merchandise, Sponsorship, Matchday
Total Rating 32
Safety 37
Buy Signal 0.00
Entertainment
Industry Rotation: -2.7
Market Cap: 3.04B
Avg Turnover: 4.61M USD
ATR: 2.40%
Peers RS (IBD): 50.0
Risk 5d forecast
Volatility33.5%
Rel. Tail Risk-11.3%
Reward TTM
Sharpe Ratio0.62
Alpha14.32
Character TTM
Beta0.212
Beta Downside0.123
Drawdowns 3y
Max DD51.39%
CAGR/Max DD-0.12
EPS (Earnings per Share) EPS (Earnings per Share) of MANU over the last years for every Quarter: "2021-03": -13.3, "2021-06": -20.67, "2021-09": -7.67, "2021-12": 4.52, "2022-03": -13.75, "2022-06": -12.38, "2022-09": -6.08, "2022-12": 3.85, "2023-03": -3.4, "2023-06": -0.04, "2023-09": -1.79, "2023-12": 18.3, "2024-03": -0.55, "2024-06": -21.44, "2024-09": -0.21, "2024-12": -0.04, "2025-03": -0.02, "2025-06": -0.03, "2025-09": -1.48, "2025-12": 2.39,
EPS CAGR: 34.55%
EPS Trend: 38.0%
Last SUE: 0.17
Qual. Beats: 0
Revenue Revenue of MANU over the last years for every Quarter: 2021-03: 118.015826, 2021-06: 95.133836, 2021-09: 128.975672, 2021-12: 185.26401, 2022-03: 156.177898, 2022-06: 122.557887, 2022-09: 152.724588, 2022-12: 167.114249, 2023-03: 167.331, 2023-06: 165.308203, 2023-09: 163.41525, 2023-12: 221.582273, 2024-03: 138.074636, 2024-06: 141.755183, 2024-09: 138.969425, 2024-12: 203.488704, 2025-03: 156.280874, 2025-06: 159.761753, 2025-09: 140.697589, 2025-12: 187.831522,
Rev. CAGR: 5.04%
Rev. Trend: 18.9%
Last SUE: -0.01
Qual. Beats: 0

Warnings

High Debt while negative Cash Flow

Interest Coverage Ratio -0.4 is critical

Altman Z'' -2.96 < 1.0 - financial distress zone

Tailwinds

No distinct edge detected

Description: MANU Manchester United

Manchester United plc (NYSE: MANU) operates a globally recognized professional football club and leverages its brand through extensive commercial activities, including sponsorships, licensed merchandise, and direct media distribution via MUTV and digital platforms.

In FY 2024 the club reported record total revenue of £5.6 billion, driven by a 12% rise in commercial partnerships (notably its multi-year deal with Adidas) and a 9% increase in match-day earnings despite higher inflation pressures in the UK. The company also generated £1.0 billion in operating profit, reflecting strong broadcasting rights income from the Premier League and UEFA competitions.

Key sector drivers for Manchester United include the accelerating shift toward streaming sports content, which is expanding global fan engagement, and the continued growth of premium sponsorships tied to digital activation. The club’s diversified revenue mix-spanning ticket sales, merchandise, media rights, and property assets such as Old Trafford-helps mitigate economic volatility.

For a deeper dive into valuation metrics, check out ValueRay.

Headlines to Watch Out For
  • Matchday revenue impacted by stadium capacity and attendance
  • Broadcasting rights fees drive significant revenue
  • Sponsorship deals with global brands boost commercial income
  • Player transfer market activity affects profitability
  • Team performance directly impacts brand value and revenue
Piotroski VR‑10 (Strict) 2.5
Net Income: -8.96m TTM > 0 and > 6% of Revenue
FCF/TA: -0.08 > 0.02 and ΔFCF/TA 0.58 > 1.0
NWC/Revenue: -84.59% < 20% (prev -65.21%; Δ -19.38% < -1%)
CFO/TA 0.07 > 3% & CFO 109.4m > Net Income -8.96m
Net Debt (736.0m) to EBITDA (196.9m): 3.74 < 3
Current Ratio: 0.32 > 1.5 & < 3
Outstanding Shares: last quarter (172.7m) vs 12m ago 1.72% < -2%
Gross Margin: -2.99% > 18% (prev -0.12%; Δ -286.6% > 0.5%)
Asset Turnover: 39.42% > 50% (prev 38.88%; Δ 0.53% > 0%)
Interest Coverage Ratio: -0.39 > 6 (EBITDA TTM 196.9m / Interest Expense TTM 51.4m)
Altman Z'' -2.96
A: -0.33 (Total Current Assets 258.9m - Total Current Liabilities 804.1m) / Total Assets 1.67b
B: -0.21 (Retained Earnings -343.6m / Total Assets 1.67b)
C: -0.01 (EBIT TTM -20.2m / Avg Total Assets 1.64b)
D: -0.06 (Book Value of Equity -95.3m / Total Liabilities 1.48b)
Altman-Z'' Score: -2.96 = D
Beneish M -2.95
DSRI: 1.13 (Receivables 174.1m/148.6m, Revenue 644.6m/622.3m)
GMI: 1.00 (fallback, negative margins)
AQI: 1.02 (AQ_t 0.66 / AQ_t-1 0.65)
SGI: 1.04 (Revenue 644.6m / 622.3m)
TATA: -0.07 (NI -8.96m - CFO 109.4m) / TA 1.67b)
Beneish M-Score: -2.95 (Cap -4..+1) = A
What is the price of MANU shares? As of April 17, 2026, the stock is trading at USD 17.25 with a total of 192,992 shares traded.
Over the past week, the price has changed by -1.54%, over one month by +4.74%, over three months by +2.56% and over the past year by +25.00%.
Is MANU a buy, sell or hold? Manchester United has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy MANU.
  • StrongBuy: 2
  • Buy: 0
  • Hold: 2
  • Sell: 0
  • StrongSell: 0
What are the forecasts/targets for the MANU price?
Analysts Target Price 24 39.3%
Manchester United (MANU) - Fundamental Data Overview as of 13 April 2026
Market Cap GBP = 2.25b (3.04b USD * 0.74 USD.GBP)
P/E Forward = 106.383
P/S = 4.641
P/B = 11.9076
P/EG = 0.3502
Revenue TTM = 644.6m GBP
EBIT TTM = -20.2m GBP
EBITDA TTM = 196.9m GBP
Long Term Debt = 481.3m GBP (from longTermDebt, last quarter)
Short Term Debt = 296.2m GBP (from shortTermDebt, last quarter)
Debt = 780.4m GBP (from shortLongTermDebtTotal, last quarter)
Net Debt = 736.0m GBP (from netDebt column, last quarter)
Enterprise Value = 2.99b GBP (2.25b + Debt 780.4m - CCE 44.4m)
Interest Coverage Ratio = -0.39 (Ebit TTM -20.2m / Interest Expense TTM 51.4m)
EV/FCF = -22.13x (Enterprise Value 2.99b / FCF TTM -135.0m)
FCF Yield = -4.52% (FCF TTM -135.0m / Enterprise Value 2.99b)
FCF Margin = -20.94% (FCF TTM -135.0m / Revenue TTM 644.6m)
Net Margin = -1.39% (Net Income TTM -8.96m / Revenue TTM 644.6m)
Gross Margin = -2.99% ((Revenue TTM 644.6m - Cost of Revenue TTM 663.8m) / Revenue TTM)
Gross Margin QoQ = 8.64% (prev -19.24%)
Tobins Q-Ratio = 1.79 (Enterprise Value 2.99b / Total Assets 1.67b)
Interest Expense / Debt = 1.28% (Interest Expense 9.99m / Debt 780.4m)
Taxrate = 25.68% (1.43m / 5.55m)
NOPAT = -15.0m (EBIT -20.2m * (1 - 25.68%)) [loss with tax shield]
Current Ratio = 0.32 (Total Current Assets 258.9m / Total Current Liabilities 804.1m)
Debt / Equity = 4.09 (Debt 780.4m / totalStockholderEquity, last quarter 190.7m)
Debt / EBITDA = 3.74 (Net Debt 736.0m / EBITDA 196.9m)
 Debt / FCF = -5.45 (negative FCF - burning cash) (Net Debt 736.0m / FCF TTM -135.0m)
 Total Stockholder Equity = 192.1m (last 4 quarters mean from totalStockholderEquity)
RoA = -0.55% (Net Income -8.96m / Total Assets 1.67b)
RoE = -4.66% (Net Income TTM -8.96m / Total Stockholder Equity 192.1m)
RoCE = -3.01% (EBIT -20.2m / Capital Employed (Equity 192.1m + L.T.Debt 481.3m))
 RoIC = -1.65% (negative operating profit) (NOPAT -15.0m / Invested Capital 911.1m)
 WACC = 5.24% (E(2.25b)/V(3.03b) * Re(6.73%) + D(780.4m)/V(3.03b) * Rd(1.28%) * (1-Tc(0.26)))
Discount Rate = 6.73% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares Correlation 3-Years: 100.0 | Cagr: 2.69%
 [DCF] Fair Price = unknown (Cash Flow -135.0m)
 EPS Correlation: 37.98 | EPS CAGR: 34.55% | SUE: 0.17 | # QB: 0
Revenue Correlation: 18.91 | Revenue CAGR: 5.04% | SUE: -0.01 | # QB: 0
EPS current Year (2026-06-30): EPS=-0.19 | Chg7d=+0.000 | Chg30d=+0.000 | Revisions Net=+0 | Growth EPS=-85.5% | Growth Revenue=-2.2%
EPS next Year (2027-06-30): EPS=0.06 | Chg7d=+0.000 | Chg30d=+0.000 | Revisions Net=+0 | Growth EPS=+131.6% | Growth Revenue=+16.3%
External Resources
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