Manchester United (MANU) AI Stock Analysis

• Market Cap: $3.11B
• Dividend Yield: N/A
• Average Volume (3M): 338.52K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.61
• 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: 336,180
• 30 Day Avg. Volume: 338,520
• PEG Ratio: 0.93
• Price to Book (P/B): 11.45
• Price to Sales (P/S): 3.33
• P/FCF Ratio: 79.24
• Enterprise Value/Market Cap: 0.98
• Enterprise Value/Revenue: 4.64
• Enterprise Value/Gross Profit: 7.16
• Enterprise Value/Ebitda: 13.13
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): -0.28
• Revenue Forecast (FY): $654.67M

• Rating: 44 Neutral
• Price Target: $17.00 ▲(8.83% Upside)
• 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

High gross and EBITDA margins

Sustained high gross and EBITDA margins indicate the club captures strong economics from commercial and matchday operations. Those margins create durable operating cash earnings that help absorb revenue swings, fund reinvestment in squads and infrastructure, and support profitability when top-line recovers.

Diversified revenue streams and global fanbase

A diversified model across sponsorships, media rights, matchday, retail and licensing reduces reliance on any single income source. The club's global brand and large fanbase underpin long-term commercial pricing power and recurring monetization channels that support revenue resilience over multiple seasons.

Positive operating cash flow & cost transformation

Management’s cost-reduction and 'off-pitch' transformation have improved profitability and produced constructive operating cash generation (OCF positive TTM). Reaffirmed EBITDA and revenue guidance plus public FFP compliance signal disciplined operating control and clearer near-term cash conversion trajectories.

Negative Factors

High leverage and constrained balance sheet

Very high leverage materially limits financial flexibility and raises refinancing risk. With equity modest relative to assets, the company is more exposed to interest rate moves and earnings volatility, reducing capacity to fund transfers or stadium projects without external financing.

Negative trailing twelve-month free cash flow

Negative FCF after investments means the business is not currently self-funding long-term capital needs. That gap increases dependence on debt or other financing to support player recruitment and infrastructure plans, worsening leverage dynamics and limiting strategic optionality.

Revenue volatility tied to on-field performance and sponsors

Top-line is sensitive to sporting outcomes and partner renewals. Loss of a major kit sponsor and missed European competition reduced both commercial and broadcasting receipts, showing structural revenue lumpy-ness that complicates multi-year planning and makes margins and cash flow more cyclical.

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 through several key streams: matchday revenue, which includes ticket sales and hospitality services during home games; broadcasting revenue, primarily from television rights and media partnerships; and commercial revenue, which encompasses sponsorship deals, merchandise sales, and licensing agreements. The club has significant partnerships with major brands, including Adidas and Chevrolet, which contribute substantial financial support. Additionally, Manchester United's extensive global fanbase allows for increased merchandising opportunities and digital engagement, further enhancing its revenue potential.

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	655.40M	666.51M	661.75M	648.40M	583.20M	494.12M
Gross Profit	424.77M	548.83M	568.02M	547.17M	583.20M	455.08M
EBITDA	231.47M	185.38M	128.74M	156.22M	79.45M	94.23M
Net Income	-9.08M	-33.02M	-113.16M	-28.68M	-115.51M	-92.22M
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: Positive
• Last Price: 15.62
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• 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 Positive. The current price of 15.62 is below the 20-day moving average (MA) of 17.56, below the 50-day MA of 16.87, and below the 200-day MA of 16.55, indicating a bullish trend. The MACD of 0.21 indicates Positive momentum. The RSI at 59.22 is Neutral, neither overbought nor oversold. The STOCH value of 69.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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	$2.98B	58.59	224.08%	―	0.68%	-80.73%
FWONK	62 Neutral	$31.81B	146.50	2.25%	―	9.81%	-42.40%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
FWONA	58 Neutral	$31.81B	134.95	2.25%	―	9.81%	-42.40%
BATRA	56 Neutral	$2.80B	-128.20	-4.45%	―	6.62%	97.35%
MSGS	54 Neutral	$7.98B	-480.95	―	―	-1.16%	-133.74%
MANU	44 Neutral	$3.11B	-257.65	-4.78%	―	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.

Manchester United Reports Revenue Decline for Q3 2025

Manchester United PLC reported its financial results for the three months ended September 30, 2025, showing a 2.0% decline in total revenue compared to the same period in 2024, primarily due to decreased sponsorship and broadcasting revenues. Despite a reduction in operating expenses by 7.1%, the company experienced a loss of £6.7 million after tax, attributed to reduced participation in UEFA competitions and changes in commercial partnerships.

The most recent analyst rating on (MANU) stock is a Hold 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 Announces Strong Q1 Fiscal 2026 Results

On December 11, 2025, Manchester United PLC announced its first quarter fiscal 2026 results, revealing total revenues of £140.3 million and an operating profit of £13.0 million, a significant improvement from the previous year’s operating loss. The club’s financial resilience is attributed to cost reduction measures and strategic investments in its teams, with the men’s team ranked sixth in the Premier League and the women’s team third in the Women’s Super League. The club also extended partnerships with Canon Medical Systems and Concha y Toro, maintaining its strong market presence.

The most recent analyst rating on (MANU) stock is a Hold 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 to Release Q1 Fiscal 2026 Earnings Report

On December 5, 2025, Manchester United plc announced that it will release its first quarter fiscal 2026 earnings report on December 11, 2025. This announcement is significant for stakeholders as it provides insights into the company’s financial performance and strategic positioning in the sports and entertainment industry.

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