(MANU) Manchester United - NYSE
Sector: Communication Services | Industry: Entertainment | Exchange: NYSE (USA) | Market Cap: 3.857m USD | Total Return: 19.3% in 12m
Avg Turnover: 9.95M
Qual. Beats: 0
Rev. Trend: -26.3%
Qual. Beats: 0
Warnings
Interest Coverage Ratio 0.7 is critical
Altman Z'' -2.30 < 1.0 - financial distress zone
Tailwinds
No distinct edge detected
Manchester United plc (MANU) operates a professional football club in the United Kingdom, generating revenue across four primary segments: Commercial (sponsorship and licensing), Retail/Apparel (branded merchandise sold through its own retail and e-commerce channels and wholesale partners), Broadcasting (live football content distribution and MUTV programming), and Matchday (operations at Old Trafford stadium). The club competes in the Premier League and UEFA club competitions, which anchor its broadcast rights income.
The business model is typical of top-tier European football, where global brand recognition supports commercial partnerships and licensed merchandise sales in international markets, supplementing matchday and broadcast revenue. Founded in 1878 and headquartered in Manchester, the company is listed on the NYSE following its 2012 IPO and falls within the Communication Services sector under the Movies & Entertainment GICS sub-industry classification.
- Champions League qualification drives broadcasting and sponsorship revenue growth
- Commercial sponsorship deals expand as global brand partnerships scale
- Old Trafford redevelopment costs pressure matchday operating margins
| Net Income: -18.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.08 > 0.02 and ΔFCF/TA 0.81 > 1.0 |
| NWC/Revenue: -68.04% < 20% (prev -66.39%; Δ -1.65% < -1%) |
| CFO/TA 0.07 > 3% & CFO 114.5m > Net Income -18.1m |
| Net Debt (698.4m) to EBITDA (272.8m): 2.56 < 3 |
| Current Ratio: 0.37 > 1.5 & < 3 |
| Outstanding Shares: last quarter (172.4m) vs 12m ago 0.05% < -2% |
| Gross Margin: 3.70% > 18% (prev -5.83%; Δ 9.53% > 0.5%) |
| Asset Turnover: 42.58% > 50% (prev 40.21%; Δ 2.38% > 0%) |
| Interest Coverage Ratio: 0.68 > 6 (EBIT TTM 46.8m / Interest Expense TTM 68.5m) |
| A: -0.29 (Total Current Assets 272.5m - Total Current Liabilities 733.7m) / Total Assets 1.59b |
| B: -0.22 (Retained Earnings -355.1m / Total Assets 1.59b) |
| C: 0.03 (EBIT TTM 46.8m / Avg Total Assets 1.59b) |
| D: 0.13 (Book Value of Equity 179.4m / Total Liabilities 1.41b) |
| Altman-Z'' = -2.30 = D |
| DSRI: 1.02 (Receivables 179.4m/165.7m, Revenue 677.8m/640.5m) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: 0.99 (AQ_t 0.64 / AQ_t-1 0.65) |
| SGI: 1.06 (Revenue 677.8m / 640.5m) |
| TATA: -0.08 (NI -18.1m - CFO 114.5m) / TA 1.59b) |
| Beneish M = -2.98 (Cap -4..+1) = A |
As of June 26, 2026, the stock is trading at USD 21.96 with a total of 307,910 shares traded. Over the past week, the price has changed by +0.69%, over one month by +11.36%, over three months by +31.97% and over the past year by +19.28%.
Current recommended Stop Loss: 20.90 (which is 4.8% or 1.2 ATR below the current price).
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
| Analysts Target Price | 25.6 | 16.4% |
Market Cap GBP = 2.92b (3.86b USD * 0.758 USD.GBP)
P/E Forward = 106.383
P/S = 4.1981
P/B = 16.0156
P/EG = 0.3502
Revenue TTM = 677.8m GBP
EBIT TTM = 46.8m GBP
EBITDA TTM = 272.8m GBP
Long Term Debt = 490.1m GBP (from longTermDebt, last quarter)
Short Term Debt = 262.9m GBP (from shortTermDebt, last quarter)
Debt = 759.3m GBP (from shortLongTermDebtTotal, last quarter) + Leases 3.34m
Net Debt = 698.4m GBP (calculated: Debt 759.3m - CCE 60.9m)
Enterprise Value = 3.62b GBP (2.92b + Debt 759.3m - CCE 60.9m)
Interest Coverage Ratio = 0.68 (Ebit TTM 46.8m / Interest Expense TTM 68.5m)
EV/FCF = -30.32x (Enterprise Value 3.62b / FCF TTM -119.5m)
FCF Yield = -3.30% (FCF TTM -119.5m / Enterprise Value 3.62b)
FCF Margin = -17.63% (FCF TTM -119.5m / Revenue TTM 677.8m)
Net Margin = -2.67% (Net Income TTM -18.1m / Revenue TTM 677.8m)
Gross Margin = 3.70% ((Revenue TTM 677.8m - Cost of Revenue TTM 652.7m) / Revenue TTM)
Gross Margin QoQ = none% (prev 8.64%)
Tobins Q-Ratio = 2.28 (Enterprise Value 3.62b / Total Assets 1.59b)
Interest Expense / Debt = 9.02% (Interest Expense 68.5m / Debt 759.3m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 36.9m (EBIT 46.8m * (1 - 21.00%))
Current Ratio = 0.37 (Total Current Assets 272.5m / Total Current Liabilities 733.7m)
Debt / Equity = 4.23 (Debt 759.3m / totalStockholderEquity, last quarter 179.4m)
Debt / EBITDA = 2.56 (Net Debt 698.4m / EBITDA 272.8m)
Debt / FCF = -5.85 (negative FCF - burning cash) (Net Debt 698.4m / FCF TTM -119.5m)
Total Stockholder Equity = 187.6m (last 4 quarters mean from totalStockholderEquity)
RoA = -1.14% (Net Income -18.1m / Total Assets 1.59b)
RoE = -9.65% (Net Income TTM -18.1m / Total Stockholder Equity 187.6m)
RoCE = 6.90% (EBIT 46.8m / Capital Employed (Equity 187.6m + L.T.Debt 490.1m))
RoIC = 3.40% (NOPAT 36.9m / Invested Capital 1.09b)
WACC = 6.69% (E(2.92b)/V(3.68b) * Re(6.57%) + D(759.3m)/V(3.68b) * Rd(9.02%) * (1-Tc(0.21)))
Discount Rate = 6.57% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 93.21 | Cagr: 2.33%
[DCF] Fair Price = unknown (Cash Flow -119.5m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.00 | # QB: 0
Revenue Correlation: -26.29 | Revenue CAGR: -1.09% | SUE: 0.32 | # QB: 0
EPS next Quarter (2026-09-30): EPS=0.06 | Chg30d=+50.00% | Revisions=+20% | Analysts=1
EPS current Year (2026-06-30): EPS=-0.26 | Chg30d=-36.84% | Revisions=-20% | GrowthEPS=-153.9% | GrowthRev=-0.1%
EPS next Year (2027-06-30): EPS=0.11 | Chg30d=+83.33% | Revisions=+20% | GrowthEPS=+142.3% | GrowthRev=+13.7%