17 years of historical data (2009–2025) · Communication Services · Entertainment
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Manchester United plc currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 26.8x P/FCF, 76% below the 5-year average of 109.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.0B | $3.1B | $2.7B | $4.0B | $1.8B | $2.5B | $2.6B | $3.0B | $3.4B | $2.7B | $2.6B |
| Enterprise Value | $1.8B | $3.6B | $3.2B | $4.5B | $2.3B | $2.9B | $3.1B | $3.2B | $3.6B | $2.9B | $2.9B |
| P/E Ratio → | -70.46 | — | — | — | — | — | — | 164.36 | — | 67.71 | 72.41 |
| P/S Ratio | 1.13 | 4.61 | 4.03 | 6.13 | 3.11 | 5.01 | 5.11 | 4.75 | 5.75 | 4.60 | 5.08 |
| P/B Ratio | 11.93 | 15.87 | 18.42 | 38.24 | 14.22 | 9.08 | 7.40 | 7.17 | 7.94 | 5.57 | 5.71 |
| P/FCF | 26.83 | 109.87 | — | — | — | — | — | 56.31 | — | 104.98 | 61.02 |
| P/OCF | 10.33 | 42.29 | 31.15 | 41.51 | 18.81 | 21.89 | — | 12.16 | 35.60 | 11.74 | 14.07 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Manchester United plc's enterprise value stands at 6.8x EBITDA, 73% below its 5-year average of 25.4x. The Communication Services sector median is 7.5x, placing the stock at a 10% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.45 | 4.76 | 6.97 | 4.00 | 5.87 | 6.05 | 5.07 | 6.18 | 4.97 | 5.59 |
| EV / EBITDA | 6.76 | 18.74 | 22.95 | 26.04 | 30.43 | 28.78 | 20.98 | 16.66 | 18.88 | 13.39 | 17.24 |
| EV / EBIT | — | — | — | — | — | — | 2290.62 | 64.56 | 75.38 | 36.41 | 41.18 |
| EV / FCF | — | 129.86 | — | — | — | — | — | 60.16 | — | 113.35 | 67.10 |
Margins and return-on-capital ratios measuring operating efficiency
Manchester United plc earns an operating margin of -2.8%. Operating margins have compressed from -1.7% to -2.8% over the past 3 years, signaling potential cost pressures or competitive headwinds. A negative ROE of -19.5% indicates the company is currently destroying shareholder equity.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 82.3% | 82.3% | 85.8% | 84.4% | 100.0% | 92.1% | 88.3% | 89.5% | 87.3% | 86.4% | 87.2% |
| Operating Margin | -2.8% | -2.8% | -10.5% | -1.7% | -15.0% | -7.5% | 1.0% | 8.0% | 7.4% | 13.9% | 13.4% |
| Net Profit Margin | -5.0% | -5.0% | -17.1% | -4.4% | -19.8% | -18.7% | -4.6% | 3.0% | -6.4% | 6.7% | 7.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -19.5% | -19.5% | -90.9% | -24.8% | -57.8% | -29.6% | -6.1% | 4.5% | -8.3% | 8.4% | 7.8% |
| ROA | -2.2% | -2.2% | -8.5% | -2.2% | -9.0% | -7.0% | -1.6% | 1.2% | -2.4% | 2.6% | 2.6% |
| ROIC | -2.0% | -2.0% | -8.1% | -1.3% | -9.8% | -3.6% | 0.5% | 5.8% | 4.8% | 8.6% | 7.1% |
| ROCE | -2.1% | -2.1% | -8.5% | -1.4% | -10.4% | -4.0% | 0.5% | 4.6% | 4.0% | 7.4% | 6.8% |
Solvency and debt-coverage ratios — lower is generally safer
Manchester United plc carries a Debt/EBITDA ratio of 3.3x, which is moderately leveraged (roughly in line with the sector average of 3.5x). Net debt stands at $559M ($645M total debt minus $86M cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 3.33 | 3.33 | 3.83 | 5.99 | 5.02 | 1.96 | 1.51 | 1.23 | 1.16 | 1.05 | 1.07 |
| Debt / EBITDA | 3.33 | 3.33 | 4.04 | 3.58 | 8.36 | 5.31 | 3.61 | 2.68 | 2.57 | 2.34 | 2.94 |
| Net Debt / Equity | — | 2.89 | 3.32 | 5.25 | 4.07 | 1.56 | 1.36 | 0.49 | 0.59 | 0.44 | 0.57 |
| Net Debt / EBITDA | 2.88 | 2.88 | 3.51 | 3.14 | 6.78 | 4.21 | 3.26 | 1.07 | 1.31 | 0.99 | 1.56 |
| Debt / FCF | — | 19.99 | — | — | — | — | — | 3.85 | — | 8.37 | 6.08 |
| Interest Coverage | -0.34 | -0.34 | -1.31 | -0.27 | -3.43 | -1.83 | 0.24 | 2.29 | 1.95 | 3.56 | 3.27 |
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.38x is below 1.0, meaning current liabilities exceed current assets.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.38 | 0.38 | 0.36 | 0.37 | 0.48 | 0.55 | 0.56 | 0.91 | 0.90 | 0.97 | 0.91 |
| Quick Ratio | 0.36 | 0.36 | 0.35 | 0.36 | 0.47 | 0.55 | 0.56 | 0.90 | 0.89 | 0.97 | 0.91 |
| Cash Ratio | 0.11 | 0.11 | 0.15 | 0.14 | 0.24 | 0.29 | 0.13 | 0.72 | 0.52 | 0.71 | 0.57 |
| Asset Turnover | — | 0.41 | 0.49 | 0.49 | 0.45 | 0.39 | 0.37 | 0.42 | 0.38 | 0.38 | 0.35 |
| Inventory Turnover | 9.02 | 9.02 | 26.46 | 31.98 | — | 18.77 | 27.34 | 30.93 | 52.71 | 48.14 | 71.06 |
| Days Sales Outstanding | — | 83.93 | 43.86 | 50.52 | 53.48 | 67.16 | 116.12 | 37.96 | 97.22 | 56.66 | 82.20 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Manchester United plc does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | 1.9% | 0.4% | 0.9% | 0.8% | 0.6% | 0.9% | 0.8% |
| Payout Ratio | — | — | — | — | — | — | — | 123.5% | — | 59.4% | 55.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | 0.6% | — | 1.5% | 1.4% |
| FCF Yield | 3.7% | 0.9% | — | — | — | — | — | 1.8% | — | 1.0% | 1.6% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.8% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 1.9% | 0.4% | 1.7% | 0.8% | 0.6% | 0.9% | 0.8% |
| Shares Outstanding | — | $173M | $165M | $163M | $163M | $163M | $164M | $165M | $165M | $164M | $164M |
Compare MANU with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| MANUYou | $1B | -70.5 | 6.8 | 26.8 | 82.3% | -2.8% | -19.5% | -2.0% | 3.3 |
| LYV | $38B | -675.6 | 17.8 | 114.4 | — | 5.0% | 34.9% | 343.5% | 1.4 |
| TKO | $26B | 99.1 | 22.1 | 20.2 | -43.0% | 17.6% | 5.9% | 5.3% | 3.1 |
| FWONK | $20B | — | — | 22.5 | — | — | — | — | — |
| LLYVK | $6B | — | — | 7.0 | — | — | — | -29.8% | — |
| MSGE | $3B | 82.0 | 20.6 | 27.4 | 43.2% | 13.0% | — | 8.5% | 6.7 |
| BATRA | $3B | -130.8 | 35.1 | — | 19.9% | 2.3% | -4.3% | 1.0% | 9.1 |
| BATRK | $2B | -118.1 | 32.2 | — | 19.9% | 2.3% | -4.3% | 1.0% | 9.1 |
| MSGS | $2B | -356.6 | 140.6 | 17.1 | 27.0% | 1.4% | — | 1.5% | 65.7 |
| SPHR | $817M | -21.0 | 53.0 | — | 21.7% | -21.7% | -8.3% | -5.0% | 45.3 |
| TDIC | $6M | 6.3 | 12.0 | — | 26.1% | 1.7% | 112.5% | 12.2% | 3.8 |
| Communication Services Median | — | 15.1 | 7.5 | 10.5 | 51.2% | -0.7% | 2.4% | 1.7% | 3.5 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 17 years · Updated daily
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Start ComparisonManchester United plc's current P/E ratio is -70.5x. The historical average is 87.7x.
Manchester United plc's current EV/EBITDA is 6.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 22.0x.
Manchester United plc's return on equity (ROE) is -19.5%. The historical average is -3.9%.
Based on historical data, Manchester United plc is trading at a P/E of -70.5x. Compare with industry peers and growth rates for a complete picture.
Manchester United plc has 82.3% gross margin and -2.8% operating margin.
Manchester United plc's Debt/EBITDA ratio is 3.3x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.