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Manchester United
(NYSE:MANU)
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Rating:46Neutral
Price Target:
$22.50
▲(44.05% Upside)
Action:Reiterated
Date:05/28/26
The score is held back primarily by weak financial quality—ongoing net losses, negative free cash flow, and high leverage—despite modest revenue growth. Technicals are supportive with a strong uptrend, but overbought signals add near-term risk. Valuation is a further drag due to the very high P/E and lack of dividend support.
Positive Factors
Diversified revenue model & global brand
Manchester United's diversified Commercial, Broadcasting and Matchday streams, underpinned by a massive global fanbase, create durable revenue channels. This breadth reduces single-source reliance, supports sponsorship and merchandising monetization, and sustains long-term cash generation despite short-term sport cycles.
Negative Factors
High leverage and elevated debt burden
A debt-to-equity ratio north of 4x constrains financial flexibility, elevates interest obligations and magnifies sensitivity to earnings swings. Even with improvement, high leverage limits capacity for large investments or absorbing shocks without additional refinancing or equity issuance.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified revenue model & global brand
Manchester United's diversified Commercial, Broadcasting and Matchday streams, underpinned by a massive global fanbase, create durable revenue channels. This breadth reduces single-source reliance, supports sponsorship and merchandising monetization, and sustains long-term cash generation despite short-term sport cycles.
Read all positive factors
Manchester United Key Performance Indicators (KPIs)
Any
Revenue by Type
Breaks down revenue streams such as matchday, broadcasting, and commercial activities, highlighting the club's financial health and reliance on different income sources.
Breaks down revenue streams such as matchday, broadcasting, and commercial activities, highlighting the club's financial health and reliance on different income sources.
Data provided by:
The Fly
The FlyManchester United (MANU) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.95B
Dividend YieldN/A
Average Volume (3M)444.28K
Price to Earnings (P/E)―
Beta (1Y)0.66
Revenue Growth11.51%
EPS Growth71.05%
CountryUS
Employees932
SectorCommunication Services
Sector Strength97
IndustryEntertainment
Share Statistics
EPS (TTM)-0.11
Shares Outstanding56,080,685
10 Day Avg. Volume343,483
30 Day Avg. Volume444,278
Financial Highlights & Ratios
PEG Ratio0.95
Price to Book (P/B)11.45
Price to Sales (P/S)3.53
P/FCF Ratio79.24
Enterprise Value/Market Cap0.89
Enterprise Value/Revenue5.20
Enterprise Value/Gross Profit20.84
Enterprise Value/Ebitda17.67
Forecast
1Y Price Target
$30.75Price Target Upside96.86% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.22
Revenue Forecast (FY)$653.42M
Manchester United Business Overview & Revenue Model
Company Description
Manchester United plc, together with its subsidiaries, operates a professional sports team in the United Kingdom. The company is involved in marketing and sponsorship relationships with international and regional companies to commercialize its bra...
How the Company Makes Money
Manchester United primarily generates revenue from three main operating segments: Commercial, Broadcasting, and Matchday. Commercial revenue comes from sponsorships and marketing partnerships (e.g., shirt sponsor, kit supplier, and other global/re...
Manchester United Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
28
Negative
Cash Flow
39
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Sep 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 677.79M | 628.49M | 658.15M | 615.70M | 638.56M | 481.07M |
| Gross Profit | 169.11M | -24.19M | -55.22M | -26.86M | -90.82M | -40.71M |
| EBITDA | 199.45M | 200.91M | 113.80M | 178.88M | 43.49M | 131.44M |
| Net Income | -18.10M | -31.14M | -112.54M | -27.23M | -126.47M | -89.78M |
Balance Sheet | ||||||
| Total Assets | 1.59B | 1.64B | 1.34B | 1.32B | 1.29B | 1.26B |
| Cash, Cash Equivalents and Short-Term Investments | 60.94M | 86.11M | 73.55M | 76.02M | 121.22M | 110.66M |
| Total Debt | 755.94M | 645.45M | 555.26M | 622.18M | 640.55M | 534.58M |
| Total Liabilities | 1.41B | 1.44B | 1.20B | 1.21B | 1.17B | 987.80M |
| Stockholders Equity | 179.41M | 193.73M | 144.89M | 103.95M | 127.51M | 272.51M |
Cash Flow | ||||||
| Free Cash Flow | -173.10M | 27.98M | -122.56M | -76.01M | -27.37M | -31.35M |
| Operating Cash Flow | 114.48M | 72.70M | 85.67M | 95.77M | 96.37M | 113.08M |
| Investing Cash Flow | -219.42M | -274.68M | -171.20M | -140.16M | -93.43M | -99.37M |
| Financing Cash Flow | 81.60M | 209.58M | 86.23M | -1.95M | 5.04M | 47.64M |
Manchester United Technical Analysis
Positive
15.62
Price Trends
20.12
Positive
18.67
Positive
17.44
Positive
Market Momentum
0.54
Positive
59.05
Neutral
38.32
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MANU, the sentiment is Positive. The current price of 15.62 is below the 20-day moving average (MA) of 22.19, below the 50-day MA of 20.12, and below the 200-day MA of 17.44, indicating a bullish trend. The MACD of 0.54 indicates Positive momentum. The RSI at 59.05 is Neutral, neither overbought nor oversold. The STOCH value of 38.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MANU.
Manchester United Risk Analysis
Manchester United disclosed 55 risk factors in its most recent earnings report. Manchester United reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
If we repurchase shares of our stock including our Class A ordinary shares, we may be subject to a 1% U.S. federal excise tax. Q2, 2023
Manchester United Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $22.91B | 25.34 | 10.72% | ― | 35.10% | ― | |
75 Outperform | $22.91B | 25.34 | 10.72% | ― | 35.10% | ― | |
67 Neutral | $3.80B | 73.00 | 8.89% | ― | 4.51% | -62.44% | |
61 Neutral | $3.33B | 47.09 | 3.04% | ― | 12.54% | -1.73% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
48 Neutral | $9.46B | -420.84 | 7.74% | ― | 1.55% | -556.99% | |
46 Neutral | $3.95B | -165.23 | -9.65% | ― | 11.51% | 71.05% |
* Communication Services Sector Average
MANU
Manchester United
22.92
5.11
28.69%
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392.98
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MSGE
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BATRA
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Manchester United Corporate Events
Manchester United Secures Site for 100,000-Seat Old Trafford Successor
Jun 22, 2026
Manchester United announced on June 22, 2026 that it has secured the majority of a 25-acre site around 350 metres north-west of Old Trafford to build a new 100,000-seat stadium, which would become the largest sporting arena in the UK. The acquisit...
Manchester United Raises $550m in New Notes and Extends Key Debt Maturities
Jun 12, 2026
On June 10, 2026, Manchester United Football Club Limited privately placed $550 million of 5.36% senior secured notes due June 10, 2031, guaranteed and secured by certain subsidiaries and broadly aligned with the covenants of its existing 3.79% se...
Manchester United Q3 2026 Revenue Climbs but Higher Costs Deepen Quarterly Loss
May 28, 2026
Manchester United reported unaudited interim results for the three and nine months ended 31 March 2026, showing an 18.1% year-on-year rise in quarterly revenue to £189.5 million, driven by strong commercial and broadcasting income. However, h...
Manchester United Swings to Operating Profit and Lifts 2026 Outlook After Strong Season
May 27, 2026
Manchester United reported fiscal 2026 third-quarter results on 27 May 2026, showing a sharp turnaround to a £37.7 million operating profit for the nine months to 31 March 2026, versus a £3.2 million loss a year earlier, driven by cost-c...
Manchester United Extends Michael Carrick as Head Coach Through 2028
May 22, 2026
On 22 May 2026, Manchester United announced that Michael Carrick will remain as head coach of the men’s first team after signing a new contract running to 2028. The former United midfielder, one of the club’s most decorated players, re...
Manchester United Sets 27 May 2026 Date for Fiscal Q3 Earnings Release
May 13, 2026
Manchester United plc said on 13 May 2026 that it will publish its fiscal 2026 third-quarter results, covering the period ended 31 March 2026, via press release on 27 May 2026 at 7:00 a.m. EST. The timing confirmation, filed with the U.S. Securiti...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.