Manchester United (MANU) AI Stock Analysis

• Market Cap: $2.84B
• Dividend Yield: N/A
• Average Volume (3M): 365.91K
• Price to Earnings (P/E): 123.7
• Beta (1Y): 0.65
• Revenue Growth: 5.69%
• EPS Growth: 52.32%
• Country: US
• Employees: 1,140
• Sector: Communication Services
• Sector Strength: 97
• Industry: Entertainment
• EPS (TTM): 0.03
• Shares Outstanding: 56,080,685
• 10 Day Avg. Volume: 407,587
• 30 Day Avg. Volume: 365,906
• PEG Ratio: 0.99
• Price to Book (P/B): 11.45
• Price to Sales (P/S): 3.53
• P/FCF Ratio: 79.24
• Enterprise Value/Market Cap: 1.01
• Enterprise Value/Revenue: 4.47
• Enterprise Value/Gross Profit: -149.58
• Enterprise Value/Ebitda: 14.63
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): -0.24
• Revenue Forecast (FY): $654.91M

• Rating: 44 Neutral
• Price Target: $15.50 ▼(-0.77% Downside)
• Action: Reiterated Date: 02/27/26
• Date: Action: Reiterated 02/27/26

The score is primarily held back by financial fundamentals—high leverage, persistent net losses, and negative/uneven free cash flow despite strong gross/EBITDA margins. Technicals are mildly constructive with price above key averages and neutral momentum, but not strong enough to offset balance-sheet and cash-flow risk. Valuation is also constrained by negative earnings (negative P/E) and no provided dividend yield.

Positive Factors

Revenue Diversification

Manchester United monetizes a broad set of revenue streams—commercial partnerships, media rights, matchday receipts, retail and licensing—anchored to a massive global fan base. That diversification reduces dependence on any single income source, improving resilience to seasonal or competition-related swings and supporting multi-year commercial planning and partner renewal value.

High Operating Margins

Sustained, high gross and EBITDA margins reflect strong brand pricing power and operating leverage in core club activities. Those margins provide durable operating profitability that can fund player investment, commercial initiatives and part of fixed costs, enabling strategic reinvestment even when topline growth is uneven.

Consistent Operating Cash Flow

Positive operating cash flow across reporting periods shows the club’s day-to-day operations generate real cash from matches, partnerships and retail. Persistent OCF supports working capital, funds near-term operational needs and gives management a measurable cash buffer to manage liquidity and negotiate refinancing despite weaker free cash flow.

Negative Factors

High Leverage

A debt-to-equity ratio near 4.1x imposes meaningful financial constraints: elevated interest and principal commitments reduce flexibility, increase refinancing risk, and limit the club’s ability to absorb revenue shocks. High leverage also narrows strategic options for long-term stadium or squad investment without additional funding sources.

Negative Free Cash Flow

Negative trailing‑12‑month free cash flow indicates the business does not currently self-fund capital and other cash needs after operations. Over multiple quarters this necessitates external financing, asset sales (e.g., player transfers) or cost cuts, increasing dependency on volatile funding channels while compounding pressure from the existing high debt burden.

Recurring Net Losses & Revenue Volatility

Flat-to-declining TTM revenue and repeated net losses show earnings volatility and weak bottom-line consistency. Reliance on UEFA qualification and televised matches makes broadcasting and matchday receipts cyclical; missing competitions materially reduces income, complicating multi-year budgeting and making sustainable profitability harder without structural revenue growth or ongoing cost discipline.

Manchester United Business Overview & Revenue Model

Company Description

Manchester 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.

How the Company Makes Money

Manchester United generates revenue from multiple core streams tied to its football operations and global brand. (1) Commercial revenue: The club sells sponsorship and advertising rights across categories (e.g., shirt sponsorship, kit/sportswear partner, sleeve sponsor, and other global and regional partners). These deals typically involve fixed annual fees plus performance- or activation-related components where applicable, and can include rights to use club marks, player imagery (subject to agreements), hospitality allocations, and marketing integrations. The club also earns licensing royalties from third parties that manufacture and sell products bearing Manchester United branding, and it sells its own branded merchandise through retail, e-commerce, and stadium channels. (2) Broadcasting revenue: The club earns distributions from domestic and international media rights for the Premier League and receives additional revenue from UEFA competitions when it qualifies, along with revenue related to domestic cup competitions. These distributions are influenced by factors such as league position, number of televised matches, and participation and performance in European competitions. (3) Matchday revenue: The club earns income from hosting home matches at Old Trafford, including ticket sales (season tickets and general admission), premium seating and hospitality packages, stadium tours and museum admissions, food and beverage concessions, and other event-day activities. Beyond these principal streams, the company may also generate income from player trading (transfer fees) and other ancillary activities; however, the scale and frequency of such income can vary significantly by season and is not a stable, primary recurring revenue driver compared with commercial, broadcasting, and matchday revenue.

Manchester United Financial Statement Overview

Summary

Income statement fundamentals are weak (flat/slightly down TTM revenue and recurring net losses), despite strong gross and EBITDA margins that indicate brand-driven operating profitability. Balance sheet risk is elevated with very high leverage (debt-to-equity ~4.1x) and negative ROE across periods. Cash flow is mixed: operating cash flow is positive, but TTM free cash flow is negative, limiting self-funding capacity versus the debt load. KPI insights add that revenue diversification helps resilience, but broadcasting revenue volatility tied to on-field performance remains a key risk.

Income Statement

TTM (Trailing-Twelve-Months) revenue is essentially flat to slightly down (about -1.3% growth), and profitability remains pressured with a small net loss (about -1.4% margin) despite a positive operating profit. A key positive is the strong gross and EBITDA profitability profile (TTM gross margin ~65% and EBITDA margin ~37%), showing the underlying franchise can generate meaningful operating cash earnings. The main weaknesses are the lack of consistent bottom-line profitability across the annual periods (repeated net losses) and volatility in operating performance, which limits overall earnings quality.

Balance Sheet

Leverage is the central issue: TTM (Trailing-Twelve-Months) debt is high relative to equity (debt-to-equity ~4.1x), and equity remains modest versus the asset base. Returns on equity are negative in every period provided (TTM return on equity is negative), reflecting that shareholders have not been earning a positive return on their capital. While total assets have grown over time, the balance sheet flexibility is constrained by the heavy debt load, leaving the company more exposed to refinancing risk and earnings/cash flow swings.

Cash Flow

Operating cash flow is positive in every period shown (TTM operating cash flow ~$109M), which is a supportive signal for day-to-day funding. However, free cash flow is inconsistent and is negative in TTM (Trailing-Twelve-Months) (about -$135M), indicating that after investment and other cash uses the business is not currently self-funding. The cash generation also looks thin relative to the debt burden (TTM operating cash flow coverage is low), which reduces financial cushion even though near-term operations are generating cash.

Breakdown	TTM	Jun 2025	Jun 2024	Sep 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	644.57M	628.49M	658.15M	615.70M	638.56M	481.07M
Gross Profit	-19.26M	-24.19M	-55.22M	-26.86M	-90.82M	-40.71M
EBITDA	196.87M	175.79M	148.88M	148.90M	88.91M	93.39M
Net Income	-8.96M	-31.14M	-112.54M	-27.23M	-126.47M	-89.78M
Balance Sheet
Total Assets	1.67B	1.64B	1.34B	1.32B	1.29B	1.26B
Cash, Cash Equivalents and Short-Term Investments	44.41M	86.11M	73.55M	76.02M	121.22M	110.66M
Total Debt	780.39M	645.45M	555.26M	622.18M	640.55M	534.58M
Total Liabilities	1.48B	1.44B	1.20B	1.21B	1.17B	987.80M
Stockholders Equity	190.74M	193.73M	144.89M	103.95M	127.51M	272.51M
Cash Flow
Free Cash Flow	-134.97M	27.98M	-122.56M	-76.01M	-27.37M	-31.35M
Operating Cash Flow	109.43M	72.70M	85.67M	95.77M	96.37M	113.08M
Investing Cash Flow	-288.23M	-274.68M	-171.20M	-140.16M	-93.43M	-99.37M
Financing Cash Flow	111.93M	209.58M	86.23M	-1.95M	5.04M	47.64M

Manchester United Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 15.62
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MANU, the sentiment is Negative. The current price of 15.62 is below the 20-day moving average (MA) of 17.21, below the 50-day MA of 17.18, and below the 200-day MA of 16.74, indicating a bearish trend. The MACD of -0.25 indicates Positive momentum. The RSI at 40.80 is Neutral, neither overbought nor oversold. The STOCH value of 30.36 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MANU.

Manchester United Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MSGE	65 Neutral	$2.69B	6.89	-618.85%	―	0.68%	-80.73%
FWONK	62 Neutral	$29.81B	44.38	10.50%	―	9.81%	-42.40%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
FWONA	58 Neutral	$29.81B	40.26	10.50%	―	9.81%	-42.40%
BATRA	56 Neutral	$2.74B	-113.56	-4.46%	―	6.62%	97.35%
MSGS	54 Neutral	$7.57B	189.56	5.81%	―	-1.16%	-133.74%
MANU	44 Neutral	$2.84B	123.67	-4.66%	―	5.69%	52.32%

Manchester United Corporate Events

Manchester United Swings to Quarterly Profit as Cost Cuts Offset Revenue Dip

Manchester United plc reported interim unaudited results for the three and six months ended 31 December 2025, showing a 4.2% year-on-year decline in quarterly revenue to £190.3 million, driven by weaker commercial and matchday income. Commercial revenue fell 7.8% as sponsorship dropped 13.5% following the end of the Tezos training kit deal, while retail and licensing slipped modestly.

Broadcasting revenue rose 1.1%, supported by expectations of a higher Premier League finish and improved international rights values, partly offset by the men’s first team missing UEFA competitions compared with the prior year. Total operating expenses fell 11.5% to £173.9 million, reflecting headcount reduction and broader cost-cutting programs plus fewer home matches, and these efficiencies helped swing the club from a £27.7 million loss after tax a year earlier to a £4.2 million profit after tax in the quarter.

Matchday revenue decreased 4.8% due mainly to three fewer home cup fixtures, though performance across seven league home games improved, underscoring operational gains despite lower volume. The figures, signed off on 26 February 2026, highlight the club’s reliance on commercial partnerships and European participation for topline growth, while cost rationalisation has become a key driver of near-term profitability for shareholders and other stakeholders.

The most recent analyst rating on (MANU) stock is a Sell with a $16.50 price target. To see the full list of analyst forecasts on Manchester United stock, see the MANU Stock Forecast page.

Manchester United Swings to Profit and Reaffirms Outlook in Q2 Fiscal 2026

Manchester United reported second-quarter fiscal 2026 results on 25 February 2026, showing a sharp turnaround to a £19.6 million operating profit for the quarter and £32.6 million for the first half, compared with a loss a year earlier, driven by cost and headcount reduction programs. Despite a 4.2% year-on-year dip in quarterly revenue to £190.3 million and the men’s team’s absence from UEFA competition, adjusted EBITDA rose to £76.0 million in the quarter and £102.9 million for the half, while the club reaffirmed full-year guidance, highlighted strong league positions for both men’s and women’s teams, appointed Michael Carrick as men’s head coach for the 2025/26 season, and advanced plans for a regenerated Old Trafford through support of a new Mayoral Development Corporation.

The most recent analyst rating on (MANU) stock is a Sell with a $16.50 price target. To see the full list of analyst forecasts on Manchester United stock, see the MANU Stock Forecast page.

Manchester United Sets February 25 Date for Fiscal Q2 2026 Earnings Release

Manchester United plc, the NYSE‑listed parent of the Manchester United football club, leverages its long-standing on‑pitch success and 148‑year heritage to power a diversified sports and entertainment business. The club’s global fan base of more than a billion followers supports revenue streams in sponsorship, media rights, retail, licensing and matchday operations, which in turn fund continued reinvestment in the team and infrastructure.

On 17 February 2026, Manchester United announced it will release its fiscal 2026 second‑quarter results, covering the period ended 31 December 2025, via press release on 25 February 2026 at 7:00 a.m. EST. The scheduled earnings announcement will give investors updated visibility into the club’s financial performance mid‑season, with potential implications for market expectations on revenue trends and ongoing reinvestment in the club’s sporting ambitions.

The most recent analyst rating on (MANU) stock is a Sell with a $16.50 price target. To see the full list of analyst forecasts on Manchester United stock, see the MANU Stock Forecast page.

Manchester United Names Michael Carrick Head Coach for Remainder of 2025/26 Season

On 13 January 2026, Manchester United announced it has appointed former club midfielder Michael Carrick as Head Coach of the men’s first team until the end of the 2025/26 season, signalling a return to a figure closely associated with the club’s modern-era success. Carrick, a highly decorated ex-player who later served on the first-team coaching staff and as caretaker manager, arrives from a two-and-a-half-year spell as Head Coach at Middlesbrough and will be supported by a backroom team including Steve Holland, Jonathan Woodgate, Travis Binnion, Jonny Evans and Craig Mawson. The move, endorsed by Director of Football Jason Wilcox as key to restoring “regular and sustained success,” underlines the club’s strategy of blending institutional knowledge with experienced coaching support, while Darren Fletcher transitions back to his role leading the Under-18s, maintaining focus on youth development as a core pillar of the club’s long-term competitiveness.

The most recent analyst rating on (MANU) stock is a Sell with a $14.50 price target. To see the full list of analyst forecasts on Manchester United stock, see the MANU Stock Forecast page.

Manchester United Parts Ways with Head Coach Ruben Amorim as Club Sits Sixth in Premier League

On January 5, 2026, Manchester United announced that head coach Ruben Amorim has left his role, ending a tenure that began with his appointment in November 2024 and included leading the team to the UEFA Europa League final in Bilbao in May 2025. With the club currently sitting sixth in the Premier League, the board stated it had reluctantly decided a change was needed to maximize the prospects of achieving the highest possible league finish this season, signaling a strategic mid-season reset that could affect on-pitch performance, dressing-room dynamics, and the club’s broader competitive positioning. Darren Fletcher will take charge of the team for the upcoming match against Burnley on Wednesday, underscoring an interim solution while the club reassesses its long-term managerial direction.

The most recent analyst rating on (MANU) stock is a Hold with a $15.00 price target. To see the full list of analyst forecasts on Manchester United stock, see the MANU Stock Forecast page.