Manchester United plc (MANU) 10-Year Financial Performance & Capital Metrics

MANU •

Communication ServicesEntertainmentLive Events and Sports Operators

AboutManchester United plc, together with its subsidiaries, owns and operates a professional sports team in the United Kingdom. The company operates Manchester United Football Club, a professional football club. It develops marketing and sponsorship relationships with international and regional companies to leverage its brand. The company also markets and sells sports apparel, training and leisure wear, and other clothing featuring the Manchester United brand; and sells other licensed products, such as coffee mugs and bed spreads featuring the Manchester United brand and trademarks, as well as distributes these products through Manchester United branded retail centers and e-commerce platforms, and through the company's partners' wholesale distribution channels. In addition, it distributes live football content directly, as well as through commercial partners; broadcasts television rights relating to the Premier League, Union of European Football Associations club competitions, and other competitions; and delivers Manchester United programming through MUTV television channel to territories worldwide. Further, the company offers a direct to consumer subscription mobile application; and operates Old Trafford, a sports venue with 74,239 seats, as well as invests in properties. Manchester United plc was founded in 1878 and is based in Manchester, the United Kingdom.Show more

Revenue $667M +0.7%
EBITDA $194M +41.2%
Net Income -$33M +70.8%
EPS (Diluted) -0.19 +72.1%
Gross Margin 82.34% -4.1%
EBITDA Margin 29.09% +40.2%
Operating Margin -2.77% +73.6%
Net Margin -4.95% +71.0%
ROE -19.5% +78.6%
ROIC -2% +75.4%
Debt/Equity 3.33 -13.1%
Interest Coverage -0.34 +74.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

✗High debt to equity ratio of 3.3x
✗Expensive at 11.9x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.37%

5Y5.54%

3Y4.55%

TTM5.6%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM93.23%

EPS CAGR

10Y-

5Y-

3Y-

TTM93.44%

ROCE

10Y Avg-0.3%

5Y Avg-5.28%

3Y Avg-3.99%

Latest-2.12%

Peer Comparison

Live Events and Sports Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TKOTKO Group Holdings, Inc.	26B	223.87	99.06	68.85%	4.13%	2.11%	4.94%	0.44
MSGEMadison Square Garden Entertainment Corp.	2.55B	63.14	82	-1.72%	5.12%	144.17%	3.65%
TDICDreamland Limited Class A Ordinary Shares	6.12M	0.17	6.33	124.08%	14.03%	112.46%		1.62
HOFVHall of Fame Resort & Entertainment Company	2.35M	0.35	-0.04	-12.12%	-366.24%	-207.29%		3.45
CPOPPop Culture Group Co., Ltd	188.22K	0.33	-0.08	155.52%	-30.56%	-102.2%		0.41
SPHRSphere Entertainment Co.	817.24M	119.01	-20.95		-9.54%	-4.7%		0.63
MANUManchester United plc	1.01B	18.01	-70.46	0.72%	-1.39%	-4.76%	3.73%	3.33
BATRKAtlanta Braves Holdings, Inc.	2.24B	43.71	-118.14	10.52%	-3.19%	-4.34%		1.56

Profit & Loss

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Sales/Revenue+	515.35M	581.25M	589.76M	627.12M	509.04M	494.12M	583.2M	648.4M	661.75M	666.51M
Revenue Growth %	30.41%	12.79%	1.46%	6.34%	-18.83%	-2.93%	18.03%	11.18%	2.06%	0.72%
Cost of Goods Sold+	65.8M	78.8M	74.64M	65.87M	59.76M	39.04M	0	101.23M	93.74M	117.68M
COGS % of Revenue	12.77%	13.56%	12.66%	10.5%	11.74%	7.9%	-	15.61%	14.17%	17.66%
Gross Profit+	449.54M	502.45M	515.12M	561.25M	449.29M	455.08M	583.2M	547.17M	568.02M	548.83M
Gross Margin %	87.23%	86.44%	87.34%	89.5%	88.26%	92.1%	100%	84.39%	85.83%	82.34%
Gross Profit Growth %	29.47%	11.77%	2.52%	8.95%	-19.95%	1.29%	28.15%	-6.18%	3.81%	-3.38%
Operating Expenses+	429.21M	513.38M	561.18M	582.29M	519.23M	492M	667.78M	558.35M	637.37M	567.26M
OpEx % of Revenue	83.29%	88.32%	95.15%	92.85%	102%	99.57%	114.5%	86.11%	96.32%	85.11%
Selling, General & Admin	256.97M	295.62M	324.52M	358.14M	305.84M	345.18M	413.9M	376.79M	409.73M	334.07M
SG&A % of Revenue	49.86%	50.86%	55.03%	57.11%	60.08%	69.86%	70.97%	58.11%	61.92%	50.12%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	213.39M	146.83M	253.87M	181.56M	227.64M	233.19M
Operating Income+	68.85M	80.86M	43.87M	49.98M	5.22M	-36.93M	-87.38M	-11.18M	-69.35M	-18.43M
Operating Margin %	13.36%	13.91%	7.44%	7.97%	1.03%	-7.47%	-14.98%	-1.72%	-10.48%	-2.77%
Operating Income Growth %	117.55%	17.45%	-45.75%	13.94%	-89.55%	-807.26%	-136.65%	87.21%	-520.33%	73.43%
EBITDA+	166.94M	215.53M	193.01M	190.87M	146.73M	100.73M	76.64M	173.66M	137.3M	193.9M
EBITDA Margin %	32.39%	37.08%	32.73%	30.44%	28.83%	20.39%	13.14%	26.78%	20.75%	29.09%
EBITDA Growth %	17.84%	29.11%	-10.45%	-1.11%	-23.12%	-31.35%	-23.91%	126.58%	-20.94%	41.23%
D&A (Non-Cash Add-back)	98.09M	134.66M	149.13M	140.88M	141.51M	137.66M	164.03M	184.84M	206.65M	212.33M
EBIT	69.9M	79.28M	48.35M	49.27M	1.34M	-43.43M	-84.58M	-28.61M	-77.91M	-26.95M
Net Interest Income+	-21.17M	-22.56M	-21.9M	-19.62M	-21.39M	-19.95M	-26.06M	-40.86M	-52.66M	-50.99M
Interest Income	442K	736K	1.24M	2.82M	1.35M	3K	145K	875.63K	161K	3.42M
Interest Expense	21.07M	22.69M	22.52M	21.79M	22.16M	20.21M	25.49M	41.74M	52.82M	54.41M
Other Income/Expense	-37.3M	-11.29M	-2.75M	-17.36M	-26.04M	12.9M	-62.24M	-21.39M	-61.37M	-21.23M
Pretax Income+	48.83M	56.59M	25.83M	27.48M	-20.82M	-24.03M	-149.62M	-32.57M	-130.72M	-39.66M
Pretax Margin %	9.48%	9.74%	4.38%	4.38%	-4.09%	-4.86%	-25.66%	-5.02%	-19.75%	-5.95%
Income Tax+	12.46M	17.38M	63.46M	8.6M	2.42M	68.19M	-34.11M	-3.9M	-17.57M	6.64M
Effective Tax Rate %	74.48%	69.29%	-145.66%	68.72%	111.6%	383.8%	77.2%	88.04%	86.56%	83.26%
Net Income+	36.37M	39.21M	-37.63M	18.88M	-23.23M	-92.22M	-115.51M	-28.68M	-113.16M	-33.02M
Net Margin %	7.06%	6.75%	-6.38%	3.01%	-4.56%	-18.66%	-19.81%	-4.42%	-17.1%	-4.95%
Net Income Growth %	4163.8%	7.8%	-195.97%	150.18%	-223.05%	-296.92%	-25.26%	75.17%	-294.58%	70.82%
Net Income (Continuing)	36.37M	39.21M	-37.63M	18.88M	-23.23M	-92.22M	-115.51M	-28.68M	-113.16M	-33.02M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.22	0.24	-0.23	0.11	-0.14	-0.57	-0.71	-0.18	-0.68	-0.19
EPS Growth %	-	9.09%	-195.83%	147.83%	-227.27%	-307.14%	-24.56%	74.65%	-277.78%	72.06%
EPS (Basic)	0.22	0.24	-0.23	0.11	-0.14	-0.57	-0.71	-0.18	-0.68	-0.19
Diluted Shares Outstanding	164.32M	164.49M	164.61M	164.67M	164.25M	162.94M	163M	163.06M	165.34M	172.61M
Basic Shares Outstanding	163.89M	164.03M	164.19M	164.53M	164.25M	162.94M	163M	163.06M	165.34M	170.93M
Dividend Payout Ratio	55.22%	59.41%	-	123.54%	-	-	-	-	-	-

Balance Sheet

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Total Current Assets+	366.67M	398.85M	413.46M	388.32M	224.81M	212.94M	237.16M	193.73M	177.28M	284.02M
Cash & Short-Term Investments	229.19M	290.27M	242.02M	307.64M	51.54M	110.66M	121.22M	76.02M	73.55M	86.11M
Cash Only	229.19M	290.27M	242.02M	307.64M	51.54M	110.66M	121.22M	76.02M	73.55M	86.11M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	116.05M	90.23M	157.09M	65.21M	161.95M	90.91M	85.45M	89.74M	79.51M	153.26M
Days Sales Outstanding	82.2	56.66	97.22	37.96	116.12	67.16	53.48	50.52	43.86	83.93
Inventory	926K	1.64M	1.42M	2.13M	2.19M	2.08M	2.2M	3.17M	3.54M	13.05M
Days Inventory Outstanding	5.14	7.58	6.92	11.8	13.35	19.45	-	11.41	13.8	40.48
Other Current Assets	7.89M	3.22M	1.16M	312K	2.63M	1.89M	12.76M	8.32M	1.92M	14.17M
Total Non-Current Assets+	1.09B	1.13B	1.13B	1.11B	1.16B	1.05B	1.06B	1.12B	1.17B	1.35B
Property, Plant & Equipment	245.71M	244.74M	245.4M	246.03M	259M	251.44M	246.73M	262.04M	264.31M	299.48M
Fixed Asset Turnover	2.10x	2.38x	2.40x	2.55x	1.97x	1.97x	2.36x	2.47x	2.50x	2.23x
Goodwill	421.45M	421.45M	421.45M	421.45M	421.45M	421.45M	421.45M	421.45M	421.45M	421.45M
Intangible Assets	244.18M	296.09M	378.19M	347.4M	353.72M	333.01M	321.82M	390.93M	416.11M	7.66M
Long-Term Investments	0	0	4.49M	0	0	0	2.46M	0	0	86.13M
Other Non-Current Assets	28.43M	31.03M	19.42M	34.9M	66.13M	41.46M	66.49M	49.79M	48.02M	539M
Total Assets+	1.45B	1.53B	1.55B	1.5B	1.38B	1.26B	1.29B	1.32B	1.34B	1.64B
Asset Turnover	0.35x	0.38x	0.38x	0.42x	0.37x	0.39x	0.45x	0.49x	0.49x	0.41x
Asset Growth %	11.55%	5.63%	0.79%	-3.18%	-7.55%	-8.9%	2.65%	1.88%	2.04%	21.78%
Total Current Liabilities+	403.74M	410.51M	461.46M	428.84M	398.34M	384.03M	494.84M	526.87M	494.99M	750.37M
Accounts Payable	127.43M	190.31M	164.25M	119.21M	105.92M	76.62M	91.56M	142.06M	165.45M	269.16M
Days Payables Outstanding	706.85	881.51	803.25	660.54	646.97	716.41	-	512.23	644.25	834.8
Short-Term Debt	5.56M	5.72M	9.07M	5.45M	5.61M	65.19M	105.76M	105.96M	35.57M	165.12M
Deferred Revenue (Current)	188.84M	203.44M	180.51M	190.15M	171.57M	117.98M	165.85M	169.62M	198.63M	0
Other Current Liabilities	2.8M	143.54M	0	0	0	907K	1.09M	13.78M	10.4M	237.9M
Current Ratio	0.91x	0.97x	0.90x	0.91x	0.56x	0.55x	0.48x	0.37x	0.36x	0.38x
Quick Ratio	0.91x	0.97x	0.89x	0.90x	0.56x	0.55x	0.47x	0.36x	0.35x	0.36x
Cash Conversion Cycle	-619.52	-817.27	-699.11	-610.78	-517.49	-629.8	-	-450.3	-586.59	-710.39
Total Non-Current Liabilities+	589.88M	643.06M	657.18M	652.48M	633.89M	603.77M	671.32M	687.12M	704.91M	693.63M
Long-Term Debt	494.24M	498.29M	486.69M	508.08M	520.01M	465.05M	530.37M	507.33M	511.05M	471.86M
Capital Lease Obligations	0	0	0	0	3.33M	3.08M	2.87M	7.84M	7.71M	7.9M
Deferred Tax Liabilities	14.36M	21.54M	29.13M	31.86M	31.34M	35.55M	7.4M	3.3M	0	0
Other Non-Current Liabilities	95.64M	144.77M	170.49M	81.48M	60.46M	77.15M	113.98M	161.98M	180.81M	207.96M
Total Liabilities	993.62M	1.05B	1.12B	1.08B	1.03B	987.8M	1.17B	1.21B	1.2B	1.44B
Total Debt+	490.09M	503.35M	495.77M	511.23M	530.01M	534.58M	640.55M	622.18M	555.26M	645.45M
Net Debt	260.9M	213.09M	253.75M	203.59M	478.47M	423.92M	519.33M	546.16M	481.71M	559.34M
Debt / Equity	1.07x	1.05x	1.16x	1.23x	1.51x	1.96x	5.02x	5.99x	3.83x	3.33x
Debt / EBITDA	2.94x	2.34x	2.57x	2.68x	3.61x	5.31x	8.36x	3.58x	4.04x	3.33x
Net Debt / EBITDA	1.56x	0.99x	1.31x	1.07x	3.26x	4.21x	6.78x	3.14x	3.51x	2.88x
Interest Coverage	3.27x	3.56x	1.95x	2.29x	0.24x	-1.83x	-3.43x	-0.27x	-1.31x	-0.34x
Total Equity+	458.28M	480.09M	427.1M	415.2M	351.23M	272.51M	127.51M	103.95M	144.89M	193.73M
Equity Growth %	-4.11%	4.76%	-11.04%	-2.79%	-15.41%	-22.41%	-53.21%	-18.48%	39.38%	33.71%
Book Value per Share	2.79	2.92	2.59	2.52	2.14	1.67	0.78	0.64	0.88	1.12
Total Shareholders' Equity	458.28M	480.09M	427.1M	415.2M	351.23M	272.51M	127.51M	103.95M	144.89M	193.73M
Common Stock	52K	53K	53K	53K	53K	53K	53K	53K	55K	56K
Retained Earnings	173.37M	193.45M	136.76M	132.84M	87.2M	-13.65M	-170.04M	-196.65M	-309.25M	-341.62M
Treasury Stock	0	0	0	0	-21.3M	-21.3M	-21.3M	-21.3M	-21.3M	-21.3M
Accumulated OCI	216.04M	217.76M	221.47M	213.49M	216.47M	238.59M	249.98M	253.03M	248.03M	249.25M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash from Operations+	186.09M	227.66M	95.25M	244.78M	-3.82M	113.08M	96.37M	95.77M	85.67M	72.7M
Operating CF Margin %	36.11%	39.17%	16.15%	39.03%	-0.75%	22.89%	16.52%	14.77%	12.95%	10.91%
Operating CF Growth %	29.3%	22.34%	-58.16%	156.99%	-101.56%	3060.29%	-14.78%	-0.62%	-10.54%	-15.14%
Net Income	48.83M	56.59M	25.83M	27.48M	-20.82M	-42.1M	-115.51M	-28.68M	-130.72M	-33.02M
Depreciation & Amortization	98.09M	134.66M	149.13M	140.88M	141.51M	139.36M	165.78M	186.53M	206.65M	215.31M
Stock-Based Compensation	1.79M	2.19M	2.92M	699K	1.44M	2.08M	198K	3.39M	875K	1.58M
Deferred Taxes	-5.6M	-30.08M	-31.51M	-34.44M	-19.97M	-62.7M	-11.71M	-71.45M	0	0
Other Non-Cash Items	15.57M	-7.52M	21.9M	19.62M	20.77M	38.91M	-8.05M	37.06M	-5.8M	-33.11M
Working Capital Changes	21.8M	41.74M	-73.03M	90.55M	-126.75M	37.53M	65.67M	-31.08M	14.67M	-78.06M
Change in Receivables	-31.74M	5.09M	-64.49M	82.09M	-83.2M	71.69M	-520K	24.43M	2.36M	-65.99M
Change in Inventory	-926K	-711K	221K	-714K	-56K	106K	-120K	-965K	-378K	-9.51M
Change in Payables	0	18.79M	16.74M	3.27M	-10.33M	10.33M	16.85M	-48.3M	0	0
Cash from Investing+	-104.82M	-150.97M	-121.27M	-161.34M	-212.85M	-99.37M	-93.43M	-140.16M	-171.2M	-274.68M
Capital Expenditures	-143.2M	-202.2M	-168.22M	-191.91M	-241.87M	-144.43M	-123.74M	-171.78M	-17.51M	-44.72M
CapEx % of Revenue	27.79%	34.79%	28.52%	30.6%	47.51%	29.23%	21.22%	26.49%	2.65%	6.71%
Acquisitions	0	0	0	0	0	0	0	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-99.72M	-142.59M	46.95M	30.57M	29.02M	46M	30.31M	31.62M	-153.69M	-229.95M
Cash from Financing+	-20.45M	-23.69M	-22.4M	-27.08M	-46.4M	47.64M	5.04M	-1.95M	86.23M	209.58M
Debt Issued (Net)	-371K	-395K	-419K	-3.75M	-1.86M	58.36M	38.59M	-1.95M	-70.98M	129.6M
Equity Issued (Net)	0	0	0	0	-1000K	0	0	0	1000K	1000K
Dividends Paid	-20.08M	-23.3M	-21.98M	-23.33M	-23.23M	-10.72M	-33.55M	0	0	0
Share Repurchases	0	0	0	0	-21.3M	0	0	0	0	0
Other Financing	0	0	0	0	0	0	0	0	-1.33M	-23.49M
Net Change in Cash	73.44M	61.07M	-48.24M	65.61M	-256.1M	59.12M	10.56M	-45.2M	-2.47M	12.56M
Free Cash Flow+	42.9M	25.46M	-72.97M	52.87M	-245.69M	-31.35M	-27.37M	-76.01M	-122.56M	27.98M
FCF Margin %	8.32%	4.38%	-12.37%	8.43%	-48.26%	-6.34%	-4.69%	-11.72%	-18.52%	4.2%
FCF Growth %	104.14%	-40.64%	-386.56%	172.46%	-564.68%	87.24%	12.7%	-177.73%	-61.25%	122.83%
FCF per Share	0.26	0.15	-0.44	0.32	-1.50	-0.19	-0.17	-0.47	-0.74	0.16
FCF Conversion (FCF/Net Income)	5.12x	5.81x	-2.53x	12.96x	0.16x	-1.23x	-0.83x	-3.34x	-0.76x	-2.20x
Interest Paid	0	0	0	0	0	0	0	0	0	37.2M
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	7.77%	8.36%	-8.3%	4.48%	-6.06%	-29.57%	-57.75%	-24.78%	-90.95%	-19.5%
Return on Invested Capital (ROIC)	7.11%	8.59%	4.79%	5.77%	0.54%	-3.63%	-9.76%	-1.29%	-8.15%	-2%
Gross Margin	87.23%	86.44%	87.34%	89.5%	88.26%	92.1%	100%	84.39%	85.83%	82.34%
Net Margin	7.06%	6.75%	-6.38%	3.01%	-4.56%	-18.66%	-19.81%	-4.42%	-17.1%	-4.95%
Debt / Equity	1.07x	1.05x	1.16x	1.23x	1.51x	1.96x	5.02x	5.99x	3.83x	3.33x
Interest Coverage	3.27x	3.56x	1.95x	2.29x	0.24x	-1.83x	-3.43x	-0.27x	-1.31x	-0.34x
FCF Conversion	5.12x	5.81x	-2.53x	12.96x	0.16x	-1.23x	-0.83x	-3.34x	-0.76x	-2.20x
Revenue Growth	30.41%	12.79%	1.46%	6.34%	-18.83%	-2.93%	18.03%	11.18%	2.06%	0.72%

US Stock Screener

...

Manchester United plc (MANU) 10-Year Financial Performance & Capital Metrics

MANU •

Communication ServicesEntertainmentLive Events and Sports Operators

Revenue $667M +0.7%
EBITDA $194M +41.2%
Net Income -$33M +70.8%
EPS (Diluted) -0.19 +72.1%
Gross Margin 82.34% -4.1%
EBITDA Margin 29.09% +40.2%
Operating Margin -2.77% +73.6%
Net Margin -4.95% +71.0%
ROE -19.5% +78.6%
ROIC -2% +75.4%
Debt/Equity 3.33 -13.1%
Interest Coverage -0.34 +74.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

✗High debt to equity ratio of 3.3x
✗Expensive at 11.9x book value

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y5.37%

5Y5.54%

3Y4.55%

TTM5.6%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM93.23%

EPS CAGR

10Y-

5Y-

3Y-

TTM93.44%

ROCE

10Y Avg-0.3%

5Y Avg-5.28%

3Y Avg-3.99%

Latest-2.12%

Peer Comparison

Live Events and Sports Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TKOTKO Group Holdings, Inc.	26B	223.87	99.06	68.85%	4.13%	2.11%	4.94%	0.44
MSGEMadison Square Garden Entertainment Corp.	2.55B	63.14	82	-1.72%	5.12%	144.17%	3.65%
TDICDreamland Limited Class A Ordinary Shares	6.12M	0.17	6.33	124.08%	14.03%	112.46%		1.62
HOFVHall of Fame Resort & Entertainment Company	2.35M	0.35	-0.04	-12.12%	-366.24%	-207.29%		3.45
CPOPPop Culture Group Co., Ltd	188.22K	0.33	-0.08	155.52%	-30.56%	-102.2%		0.41
SPHRSphere Entertainment Co.	817.24M	119.01	-20.95		-9.54%	-4.7%		0.63
MANUManchester United plc	1.01B	18.01	-70.46	0.72%	-1.39%	-4.76%	3.73%	3.33
BATRKAtlanta Braves Holdings, Inc.	2.24B	43.71	-118.14	10.52%	-3.19%	-4.34%		1.56

Profit & Loss

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Sales/Revenue+	515.35M	581.25M	589.76M	627.12M	509.04M	494.12M	583.2M	648.4M	661.75M	666.51M
Revenue Growth %	30.41%	12.79%	1.46%	6.34%	-18.83%	-2.93%	18.03%	11.18%	2.06%	0.72%
Cost of Goods Sold+	65.8M	78.8M	74.64M	65.87M	59.76M	39.04M	0	101.23M	93.74M	117.68M
COGS % of Revenue	12.77%	13.56%	12.66%	10.5%	11.74%	7.9%	-	15.61%	14.17%	17.66%
Gross Profit+	449.54M	502.45M	515.12M	561.25M	449.29M	455.08M	583.2M	547.17M	568.02M	548.83M
Gross Margin %	87.23%	86.44%	87.34%	89.5%	88.26%	92.1%	100%	84.39%	85.83%	82.34%
Gross Profit Growth %	29.47%	11.77%	2.52%	8.95%	-19.95%	1.29%	28.15%	-6.18%	3.81%	-3.38%
Operating Expenses+	429.21M	513.38M	561.18M	582.29M	519.23M	492M	667.78M	558.35M	637.37M	567.26M
OpEx % of Revenue	83.29%	88.32%	95.15%	92.85%	102%	99.57%	114.5%	86.11%	96.32%	85.11%
Selling, General & Admin	256.97M	295.62M	324.52M	358.14M	305.84M	345.18M	413.9M	376.79M	409.73M	334.07M
SG&A % of Revenue	49.86%	50.86%	55.03%	57.11%	60.08%	69.86%	70.97%	58.11%	61.92%	50.12%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	213.39M	146.83M	253.87M	181.56M	227.64M	233.19M
Operating Income+	68.85M	80.86M	43.87M	49.98M	5.22M	-36.93M	-87.38M	-11.18M	-69.35M	-18.43M
Operating Margin %	13.36%	13.91%	7.44%	7.97%	1.03%	-7.47%	-14.98%	-1.72%	-10.48%	-2.77%
Operating Income Growth %	117.55%	17.45%	-45.75%	13.94%	-89.55%	-807.26%	-136.65%	87.21%	-520.33%	73.43%
EBITDA+	166.94M	215.53M	193.01M	190.87M	146.73M	100.73M	76.64M	173.66M	137.3M	193.9M
EBITDA Margin %	32.39%	37.08%	32.73%	30.44%	28.83%	20.39%	13.14%	26.78%	20.75%	29.09%
EBITDA Growth %	17.84%	29.11%	-10.45%	-1.11%	-23.12%	-31.35%	-23.91%	126.58%	-20.94%	41.23%
D&A (Non-Cash Add-back)	98.09M	134.66M	149.13M	140.88M	141.51M	137.66M	164.03M	184.84M	206.65M	212.33M
EBIT	69.9M	79.28M	48.35M	49.27M	1.34M	-43.43M	-84.58M	-28.61M	-77.91M	-26.95M
Net Interest Income+	-21.17M	-22.56M	-21.9M	-19.62M	-21.39M	-19.95M	-26.06M	-40.86M	-52.66M	-50.99M
Interest Income	442K	736K	1.24M	2.82M	1.35M	3K	145K	875.63K	161K	3.42M
Interest Expense	21.07M	22.69M	22.52M	21.79M	22.16M	20.21M	25.49M	41.74M	52.82M	54.41M
Other Income/Expense	-37.3M	-11.29M	-2.75M	-17.36M	-26.04M	12.9M	-62.24M	-21.39M	-61.37M	-21.23M
Pretax Income+	48.83M	56.59M	25.83M	27.48M	-20.82M	-24.03M	-149.62M	-32.57M	-130.72M	-39.66M
Pretax Margin %	9.48%	9.74%	4.38%	4.38%	-4.09%	-4.86%	-25.66%	-5.02%	-19.75%	-5.95%
Income Tax+	12.46M	17.38M	63.46M	8.6M	2.42M	68.19M	-34.11M	-3.9M	-17.57M	6.64M
Effective Tax Rate %	74.48%	69.29%	-145.66%	68.72%	111.6%	383.8%	77.2%	88.04%	86.56%	83.26%
Net Income+	36.37M	39.21M	-37.63M	18.88M	-23.23M	-92.22M	-115.51M	-28.68M	-113.16M	-33.02M
Net Margin %	7.06%	6.75%	-6.38%	3.01%	-4.56%	-18.66%	-19.81%	-4.42%	-17.1%	-4.95%
Net Income Growth %	4163.8%	7.8%	-195.97%	150.18%	-223.05%	-296.92%	-25.26%	75.17%	-294.58%	70.82%
Net Income (Continuing)	36.37M	39.21M	-37.63M	18.88M	-23.23M	-92.22M	-115.51M	-28.68M	-113.16M	-33.02M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.22	0.24	-0.23	0.11	-0.14	-0.57	-0.71	-0.18	-0.68	-0.19
EPS Growth %	-	9.09%	-195.83%	147.83%	-227.27%	-307.14%	-24.56%	74.65%	-277.78%	72.06%
EPS (Basic)	0.22	0.24	-0.23	0.11	-0.14	-0.57	-0.71	-0.18	-0.68	-0.19
Diluted Shares Outstanding	164.32M	164.49M	164.61M	164.67M	164.25M	162.94M	163M	163.06M	165.34M	172.61M
Basic Shares Outstanding	163.89M	164.03M	164.19M	164.53M	164.25M	162.94M	163M	163.06M	165.34M	170.93M
Dividend Payout Ratio	55.22%	59.41%	-	123.54%	-	-	-	-	-	-

Balance Sheet

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Total Current Assets+	366.67M	398.85M	413.46M	388.32M	224.81M	212.94M	237.16M	193.73M	177.28M	284.02M
Cash & Short-Term Investments	229.19M	290.27M	242.02M	307.64M	51.54M	110.66M	121.22M	76.02M	73.55M	86.11M
Cash Only	229.19M	290.27M	242.02M	307.64M	51.54M	110.66M	121.22M	76.02M	73.55M	86.11M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	116.05M	90.23M	157.09M	65.21M	161.95M	90.91M	85.45M	89.74M	79.51M	153.26M
Days Sales Outstanding	82.2	56.66	97.22	37.96	116.12	67.16	53.48	50.52	43.86	83.93
Inventory	926K	1.64M	1.42M	2.13M	2.19M	2.08M	2.2M	3.17M	3.54M	13.05M
Days Inventory Outstanding	5.14	7.58	6.92	11.8	13.35	19.45	-	11.41	13.8	40.48
Other Current Assets	7.89M	3.22M	1.16M	312K	2.63M	1.89M	12.76M	8.32M	1.92M	14.17M
Total Non-Current Assets+	1.09B	1.13B	1.13B	1.11B	1.16B	1.05B	1.06B	1.12B	1.17B	1.35B
Property, Plant & Equipment	245.71M	244.74M	245.4M	246.03M	259M	251.44M	246.73M	262.04M	264.31M	299.48M
Fixed Asset Turnover	2.10x	2.38x	2.40x	2.55x	1.97x	1.97x	2.36x	2.47x	2.50x	2.23x
Goodwill	421.45M	421.45M	421.45M	421.45M	421.45M	421.45M	421.45M	421.45M	421.45M	421.45M
Intangible Assets	244.18M	296.09M	378.19M	347.4M	353.72M	333.01M	321.82M	390.93M	416.11M	7.66M
Long-Term Investments	0	0	4.49M	0	0	0	2.46M	0	0	86.13M
Other Non-Current Assets	28.43M	31.03M	19.42M	34.9M	66.13M	41.46M	66.49M	49.79M	48.02M	539M
Total Assets+	1.45B	1.53B	1.55B	1.5B	1.38B	1.26B	1.29B	1.32B	1.34B	1.64B
Asset Turnover	0.35x	0.38x	0.38x	0.42x	0.37x	0.39x	0.45x	0.49x	0.49x	0.41x
Asset Growth %	11.55%	5.63%	0.79%	-3.18%	-7.55%	-8.9%	2.65%	1.88%	2.04%	21.78%
Total Current Liabilities+	403.74M	410.51M	461.46M	428.84M	398.34M	384.03M	494.84M	526.87M	494.99M	750.37M
Accounts Payable	127.43M	190.31M	164.25M	119.21M	105.92M	76.62M	91.56M	142.06M	165.45M	269.16M
Days Payables Outstanding	706.85	881.51	803.25	660.54	646.97	716.41	-	512.23	644.25	834.8
Short-Term Debt	5.56M	5.72M	9.07M	5.45M	5.61M	65.19M	105.76M	105.96M	35.57M	165.12M
Deferred Revenue (Current)	188.84M	203.44M	180.51M	190.15M	171.57M	117.98M	165.85M	169.62M	198.63M	0
Other Current Liabilities	2.8M	143.54M	0	0	0	907K	1.09M	13.78M	10.4M	237.9M
Current Ratio	0.91x	0.97x	0.90x	0.91x	0.56x	0.55x	0.48x	0.37x	0.36x	0.38x
Quick Ratio	0.91x	0.97x	0.89x	0.90x	0.56x	0.55x	0.47x	0.36x	0.35x	0.36x
Cash Conversion Cycle	-619.52	-817.27	-699.11	-610.78	-517.49	-629.8	-	-450.3	-586.59	-710.39
Total Non-Current Liabilities+	589.88M	643.06M	657.18M	652.48M	633.89M	603.77M	671.32M	687.12M	704.91M	693.63M
Long-Term Debt	494.24M	498.29M	486.69M	508.08M	520.01M	465.05M	530.37M	507.33M	511.05M	471.86M
Capital Lease Obligations	0	0	0	0	3.33M	3.08M	2.87M	7.84M	7.71M	7.9M
Deferred Tax Liabilities	14.36M	21.54M	29.13M	31.86M	31.34M	35.55M	7.4M	3.3M	0	0
Other Non-Current Liabilities	95.64M	144.77M	170.49M	81.48M	60.46M	77.15M	113.98M	161.98M	180.81M	207.96M
Total Liabilities	993.62M	1.05B	1.12B	1.08B	1.03B	987.8M	1.17B	1.21B	1.2B	1.44B
Total Debt+	490.09M	503.35M	495.77M	511.23M	530.01M	534.58M	640.55M	622.18M	555.26M	645.45M
Net Debt	260.9M	213.09M	253.75M	203.59M	478.47M	423.92M	519.33M	546.16M	481.71M	559.34M
Debt / Equity	1.07x	1.05x	1.16x	1.23x	1.51x	1.96x	5.02x	5.99x	3.83x	3.33x
Debt / EBITDA	2.94x	2.34x	2.57x	2.68x	3.61x	5.31x	8.36x	3.58x	4.04x	3.33x
Net Debt / EBITDA	1.56x	0.99x	1.31x	1.07x	3.26x	4.21x	6.78x	3.14x	3.51x	2.88x
Interest Coverage	3.27x	3.56x	1.95x	2.29x	0.24x	-1.83x	-3.43x	-0.27x	-1.31x	-0.34x
Total Equity+	458.28M	480.09M	427.1M	415.2M	351.23M	272.51M	127.51M	103.95M	144.89M	193.73M
Equity Growth %	-4.11%	4.76%	-11.04%	-2.79%	-15.41%	-22.41%	-53.21%	-18.48%	39.38%	33.71%
Book Value per Share	2.79	2.92	2.59	2.52	2.14	1.67	0.78	0.64	0.88	1.12
Total Shareholders' Equity	458.28M	480.09M	427.1M	415.2M	351.23M	272.51M	127.51M	103.95M	144.89M	193.73M
Common Stock	52K	53K	53K	53K	53K	53K	53K	53K	55K	56K
Retained Earnings	173.37M	193.45M	136.76M	132.84M	87.2M	-13.65M	-170.04M	-196.65M	-309.25M	-341.62M
Treasury Stock	0	0	0	0	-21.3M	-21.3M	-21.3M	-21.3M	-21.3M	-21.3M
Accumulated OCI	216.04M	217.76M	221.47M	213.49M	216.47M	238.59M	249.98M	253.03M	248.03M	249.25M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash from Operations+	186.09M	227.66M	95.25M	244.78M	-3.82M	113.08M	96.37M	95.77M	85.67M	72.7M
Operating CF Margin %	36.11%	39.17%	16.15%	39.03%	-0.75%	22.89%	16.52%	14.77%	12.95%	10.91%
Operating CF Growth %	29.3%	22.34%	-58.16%	156.99%	-101.56%	3060.29%	-14.78%	-0.62%	-10.54%	-15.14%
Net Income	48.83M	56.59M	25.83M	27.48M	-20.82M	-42.1M	-115.51M	-28.68M	-130.72M	-33.02M
Depreciation & Amortization	98.09M	134.66M	149.13M	140.88M	141.51M	139.36M	165.78M	186.53M	206.65M	215.31M
Stock-Based Compensation	1.79M	2.19M	2.92M	699K	1.44M	2.08M	198K	3.39M	875K	1.58M
Deferred Taxes	-5.6M	-30.08M	-31.51M	-34.44M	-19.97M	-62.7M	-11.71M	-71.45M	0	0
Other Non-Cash Items	15.57M	-7.52M	21.9M	19.62M	20.77M	38.91M	-8.05M	37.06M	-5.8M	-33.11M
Working Capital Changes	21.8M	41.74M	-73.03M	90.55M	-126.75M	37.53M	65.67M	-31.08M	14.67M	-78.06M
Change in Receivables	-31.74M	5.09M	-64.49M	82.09M	-83.2M	71.69M	-520K	24.43M	2.36M	-65.99M
Change in Inventory	-926K	-711K	221K	-714K	-56K	106K	-120K	-965K	-378K	-9.51M
Change in Payables	0	18.79M	16.74M	3.27M	-10.33M	10.33M	16.85M	-48.3M	0	0
Cash from Investing+	-104.82M	-150.97M	-121.27M	-161.34M	-212.85M	-99.37M	-93.43M	-140.16M	-171.2M	-274.68M
Capital Expenditures	-143.2M	-202.2M	-168.22M	-191.91M	-241.87M	-144.43M	-123.74M	-171.78M	-17.51M	-44.72M
CapEx % of Revenue	27.79%	34.79%	28.52%	30.6%	47.51%	29.23%	21.22%	26.49%	2.65%	6.71%
Acquisitions	0	0	0	0	0	0	0	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-99.72M	-142.59M	46.95M	30.57M	29.02M	46M	30.31M	31.62M	-153.69M	-229.95M
Cash from Financing+	-20.45M	-23.69M	-22.4M	-27.08M	-46.4M	47.64M	5.04M	-1.95M	86.23M	209.58M
Debt Issued (Net)	-371K	-395K	-419K	-3.75M	-1.86M	58.36M	38.59M	-1.95M	-70.98M	129.6M
Equity Issued (Net)	0	0	0	0	-1000K	0	0	0	1000K	1000K
Dividends Paid	-20.08M	-23.3M	-21.98M	-23.33M	-23.23M	-10.72M	-33.55M	0	0	0
Share Repurchases	0	0	0	0	-21.3M	0	0	0	0	0
Other Financing	0	0	0	0	0	0	0	0	-1.33M	-23.49M
Net Change in Cash	73.44M	61.07M	-48.24M	65.61M	-256.1M	59.12M	10.56M	-45.2M	-2.47M	12.56M
Free Cash Flow+	42.9M	25.46M	-72.97M	52.87M	-245.69M	-31.35M	-27.37M	-76.01M	-122.56M	27.98M
FCF Margin %	8.32%	4.38%	-12.37%	8.43%	-48.26%	-6.34%	-4.69%	-11.72%	-18.52%	4.2%
FCF Growth %	104.14%	-40.64%	-386.56%	172.46%	-564.68%	87.24%	12.7%	-177.73%	-61.25%	122.83%
FCF per Share	0.26	0.15	-0.44	0.32	-1.50	-0.19	-0.17	-0.47	-0.74	0.16
FCF Conversion (FCF/Net Income)	5.12x	5.81x	-2.53x	12.96x	0.16x	-1.23x	-0.83x	-3.34x	-0.76x	-2.20x
Interest Paid	0	0	0	0	0	0	0	0	0	37.2M
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	7.77%	8.36%	-8.3%	4.48%	-6.06%	-29.57%	-57.75%	-24.78%	-90.95%	-19.5%
Return on Invested Capital (ROIC)	7.11%	8.59%	4.79%	5.77%	0.54%	-3.63%	-9.76%	-1.29%	-8.15%	-2%
Gross Margin	87.23%	86.44%	87.34%	89.5%	88.26%	92.1%	100%	84.39%	85.83%	82.34%
Net Margin	7.06%	6.75%	-6.38%	3.01%	-4.56%	-18.66%	-19.81%	-4.42%	-17.1%	-4.95%
Debt / Equity	1.07x	1.05x	1.16x	1.23x	1.51x	1.96x	5.02x	5.99x	3.83x	3.33x
Interest Coverage	3.27x	3.56x	1.95x	2.29x	0.24x	-1.83x	-3.43x	-0.27x	-1.31x	-0.34x
FCF Conversion	5.12x	5.81x	-2.53x	12.96x	0.16x	-1.23x	-0.83x	-3.34x	-0.76x	-2.20x
Revenue Growth	30.41%	12.79%	1.46%	6.34%	-18.83%	-2.93%	18.03%	11.18%	2.06%	0.72%

Manchester United plc (MANU) 10-Year Financial Performance & Capital Metrics

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Growth Metrics

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Revenue History

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Manchester United plc (MANU) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare MANU vs Peers

vs LYV

vs TKO

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios