Manchester United plc
- Open
- 22.30
- Day high
- 22.90
- Day low
- 22.30
- Prev close
- 22.32
- Volume
- 157K
- Mkt cap
- $3.9B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 16.4
- P/S
- 4.3
- Yield
- —
- Per share
- —
Manchester United plc (MANU) is a Communication Services company listed on NYSE. The stock is up 31% over the past year. Drillr has 1 published research article covering MANU.
Manchester United plc (MANU) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
MANU earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 27, 2026 | $-0.06 | $0.04 | +172.5% | $251M | +13.4% |
| Feb 25, 2026 | $0.16 | $0.03 | -80.2% | $256M | +16.8% |
| Dec 11, 2025 | $-0.02 | $-0.02 | -0.6% | $189M | +0.1% |
| Sep 10, 2025 | $-0.06 | $-0.20 | -233.3% | $224M | -0.9% |
| Jun 6, 2025 | $-0.25 | $-0.04 | +83.8% | $207M | +2.1% |
| Feb 19, 2025 | $-0.07 | $-0.05 | +28.6% | $249M | +23.6% |
| Oct 23, 2024 | $-0.17 | $-0.00 | +98.3% | $188M | -0.8% |
| Sep 11, 2024 | $-0.27 | $-0.20 | +25.9% | $180M | -20.4% |
| Oct 26, 2023 | $-6.07 | $-0.08 | +98.7% | $191M | -21.7% |
| Dec 8, 2022 | $-0.12 | $-0.07 | +41.7% | $159M | +9.3% |
| Nov 17, 2021 | $-0.25 | $-0.11 | +56.0% | $171M | +64.3% |
| Feb 25, 2020 | $0.19 | $0.20 | +5.3% | $216M | +11.5% |
MANU insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 4, 2005 | JANEWAY WILLIAM Hdirector | Grant | 10,000 | $1.99 |
| Apr 21, 2005 | Cowan Joseph Ldirector, officer: Chief Executive Officer | Buy | 100,000 | $1.43 |
| Jul 26, 2004 | Cowan Joseph Lofficer: Chief Executive Officer | Grant | 1,000,000 | $2.54 |
| Jul 26, 2004 | Cowan Joseph Lofficer: Chief Executive Officer | Grant | 200,000 | — |
| Jul 26, 2004 | Cowan Joseph Lofficer: Chief Executive Officer | Grant | 133,333 | — |
| Jul 23, 2004 | CLINE J MICHAELdirector | Grant | 10,000 | $2.54 |
| Jul 23, 2004 | JANEWAY WILLIAM Hdirector | Grant | 10,000 | $2.54 |
| Apr 27, 2004 | OWENS GREGORY Jdirector, officer: Chairman and CEO | Option | 10,000 | $3.91 |
| Apr 27, 2004 | OWENS GREGORY Jdirector, officer: Chairman and CEO | Sell | 10,000 | $6.00 |
| Apr 16, 2004 | OWENS GREGORY Jdirector, officer: Chairman and CEO | Option | 20,000 | $3.91 |
| Apr 16, 2004 | OWENS GREGORY Jdirector, officer: Chairman and CEO | Sell | 20,000 | $6.00 |
| Sep 18, 2003 | JETER JAMES Jofficer: SVP, Global Marketing | Grant | 8,000 | $5.55 |
| Sep 18, 2003 | JETER JAMES Jofficer: SVP, Global Marketing | Grant | 6,000 | $5.55 |
| Jul 30, 2003 | CLINE J MICHAELdirector | Grant | 10,000 | $4.54 |
| Jul 30, 2003 | JANEWAY WILLIAM Hdirector | Grant | 10,000 | $4.54 |
Source: MANU SEC Form 4 filings, latest Aug 4, 2005. For informational purposes only — not investment advice.
See the full MANU insider & 13F page →MANU research & analysis
Manchester United plc company profile
Overview
Manchester United plc (NYSE:MANU) is a British public company that owns and operates one of the world's most famous football clubs, Manchester United Football Club. Founded in 1878 as Newton Heath LYR FC, the club was renamed Manchester United in 1902 following financial difficulties and a takeover. The company went public on the New York Stock Exchange in 2012, making it one of the few publicly traded football clubs globally. Today, Manchester United operates as both a professional sports organization competing in England's Premier League and a global entertainment and media brand, leveraging its massive worldwide fanbase for commercial opportunities.
Business
Manchester United operates in the professional sports entertainment industry, specifically football (soccer), which combines live sporting competition with media content, merchandising, and fan engagement activities. The company's business is built around three primary revenue streams that capitalize on the global popularity of the Manchester United brand. The Commercial segment represents the largest portion of revenue, generating approximately 30% of total income through sponsorship deals and merchandising activities. This includes major partnerships with global brands like TeamViewer (shirt sponsor), merchandising partnerships for replica jerseys and licensed products, and various commercial agreements with companies seeking to associate with the Manchester United brand. The Broadcasting segment accounts for roughly 25% of revenue and encompasses the distribution of live football content and media rights. This includes television rights payments from the Premier League, UEFA competitions (Champions League, Europa League), domestic cup competitions, and international broadcasting through the club's own MUTV television channel. The company also develops direct-to-consumer digital content through mobile applications and streaming platforms. The Matchday segment contributes approximately 13% of revenue through ticket sales, hospitality services, and concessions at Old Trafford stadium. With a capacity of 74,239 seats, Old Trafford is one of the largest football stadiums in Europe and serves as both the team's home venue and a significant revenue-generating asset through premium seating, corporate hospitality, and event hosting.
Revenue model
Manchester United generates revenue through multiple interconnected business models that monetize both the sporting performance and brand value of the football club. The company operates on a content creation and distribution model where the core product - football matches and related content - is monetized through various channels. The primary revenue streams include product sales through merchandising and licensing agreements, where the company sells Manchester United-branded apparel, accessories, and consumer goods both directly through retail stores and e-commerce platforms, and through wholesale distribution partnerships. Broadcasting rights represent another major income source, where media companies pay substantial fees for the right to broadcast Manchester United matches, with payments varying based on league performance and competition participation. Sponsorship and advertising revenue comes from corporate partners who pay to associate their brands with Manchester United through shirt sponsorships, stadium naming rights, official partnerships, and various marketing collaborations. The service fee model applies to matchday operations, where fans pay for tickets, hospitality experiences, and concessions at Old Trafford stadium. The paying customers span multiple segments: individual consumers purchasing merchandise and match tickets, corporate clients buying hospitality packages and sponsorship opportunities, media companies acquiring broadcasting rights, and global brands seeking marketing partnerships. Revenue performance is significantly influenced by on-field success, as qualification for prestigious competitions like the Champions League can increase broadcasting revenue by tens of millions of pounds. Global economic conditions affect corporate sponsorship spending and consumer discretionary income for merchandise and tickets. Regulatory changes in broadcasting rights distribution and financial fair play rules also impact revenue potential and cost structures.
Competitive moat
Manchester United's competitive moat is built primarily on its brand strength and global fanbase, which creates significant barriers to entry in the premium football entertainment market. The club boasts one of the largest global supporter bases in professional sports, with an estimated 1.1 billion fans worldwide, providing a massive addressable market for commercial partnerships and merchandising that few competitors can match. The company's historical success and cultural significance creates a self-reinforcing cycle where past achievements attract top players and commercial partners, which in turn generates resources to maintain competitive performance. Old Trafford stadium represents a tangible asset moat as a 74,000+ capacity venue in a prime location that would be extremely difficult and expensive for competitors to replicate. However, Manchester United's moat faces significant challenges. The club's sporting performance has declined relative to competitors like Manchester City and Liverpool, reducing its attractiveness to top players and potentially impacting long-term brand value. The regulatory environment in football is increasingly focused on financial fair play rules that limit spending advantages, while the globalization of football means other clubs are rapidly building international fanbases and commercial partnerships. The company's moat is moderately strong but eroding. While the Manchester United brand retains enormous global recognition and commercial value, sustained poor on-field performance could gradually weaken fan loyalty and commercial appeal. The rise of state-owned competitors with substantial financial resources, combined with the increasing importance of digital engagement over traditional loyalty, suggests the moat may be narrower than it appears and requires continuous investment to maintain.
Risks & safety
Manchester United presents significant financial risk with limited margin of safety for investors. • Liquidity concerns: Current ratio of 0.41 indicates insufficient current assets to cover short-term liabilities, with £121 million cash against £878 million current liabilities • High debt burden: Debt-to-equity ratio of 3.76 shows heavy leverage, creating financial vulnerability during revenue downturns • Negative cash generation: Free cash flow of -£89 million in recent quarter demonstrates cash burn rather than generation • Valuation metrics: EV/EBITDA of 13.4x appears reasonable but ROE of -14% and negative net income indicate poor profitability • Asset coverage: Graham net-net value of -7.0 suggests assets would not cover liabilities in liquidation scenario • Operational risk: Revenue heavily dependent on sporting performance and economic conditions affecting discretionary spending on entertainment
Recent development
Based on recent financial performance, Manchester United has undergone several strategic initiatives to address declining profitability and competitive positioning. The company appointed Erik ten Hag as manager in 2022, representing a significant investment in football operations with the acquisition of five new regular starting players to improve on-field performance, which directly impacts broadcasting revenue through competition qualification. The club has focused heavily on digital transformation and fan engagement, achieving record digital interactions of 2.8 billion (a 72% increase) and launching new technological partnerships including blockchain initiatives with Tezos. The company developed a direct-to-consumer mobile application and is exploring original content production to diversify revenue streams beyond traditional broadcasting arrangements. Commercial partnership strategy has evolved with new major sponsorship deals including TeamViewer as shirt sponsor and partnerships with DXC Technology, while the company continues to expand merchandising and licensing operations globally. The organization has also invested in developing both the women's team and youth academy programs, with the U18s winning the FA Youth Cup, indicating a long-term approach to talent development and brand building across multiple demographics. However, the company faces ongoing challenges with UEFA financial sustainability regulations limiting spending flexibility, while management has committed to maintaining financial discipline and cost management amid revenue pressures from inconsistent Champions League qualification.
MANU company profile · for informational purposes only — not investment advice.
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