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Leisure · Consumer Cyclical · Fiscal year ends Jun 30 · Reports in GBP
Manchester United reported revenue of GBP 678M in the fiscal year ended Jun 2026, up 1.7% from the year before. Operating income was GBP 23M, an operating margin of 3.3%, and net income was −GBP 43M. Operating cash flow of GBP 179M less capital expenditure of GBP 86M left free cash flow of GBP 93M. Net debt was GBP 622M.
Ranks among the 21 leisure companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | 583 | 648 | 662 | 667 | 678 |
| Operating income | −87.4 | −11.2 | −69.4 | −18.4 | 22.6 |
| Interest expense | 85.9 | 44.9 | 63.9 | 59.0 | 77.7 |
| Pre-tax income | −150 | −32.6 | −131 | −39.7 | −47.0 |
| Income tax | −34.1 | −3.9 | −17.6 | −6.6 | −4.0 |
| Net income | −116 | −28.7 | −113 | −33.0 | −43.0 |
| Diluted EPS | −0.71 | −0.18 | −0.68 | −0.19 | −0.25 |
| Diluted shares | 163 | 163 | 165 | 171 | 172 |
| Fiscal year | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 121 | 76.0 | 73.5 | 86.1 | 67.2 |
| Receivables | 49.2 | 31.2 | 37.0 | 134 | 89.3 |
| Inventory | 2.2 | 3.2 | 3.5 | 13.1 | 12.2 |
| Current assets | 237 | 194 | 177 | 284 | 215 |
| Net PP&E | 243 | 253 | 256 | 292 | 357 |
| Total assets | 1,294 | 1,318 | 1,345 | 1,638 | 1,549 |
| Payables | 221 | 236 | 249 | 359 | 317 |
| Deferred revenue | 166 | 170 | 199 | 205 | 211 |
| Current liabilities | 495 | 527 | 495 | 750 | 658 |
| Short-term debt | 106 | 106 | 35.6 | 165 | 111 |
| Long-term debt | 530 | 507 | 511 | 472 | 578 |
| Total liabilities | 1,166 | 1,214 | 1,200 | 1,444 | 1,399 |
| Shareholders' equity | 128 | 104 | 145 | 194 | 150 |
| Fiscal year | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 96.4 | 95.8 | 85.7 | 72.7 | 179 |
| Capital expenditure | 8.3 | 15.6 | 17.5 | 44.7 | 85.9 |
| Free cash flow | 88.0 | 80.2 | 68.2 | 28.0 | 92.8 |
| Stock-based compensation | 1.0 | 3.4 | 2.0 | 1.6 | 1.8 |
| Dividends paid | 33.6 | 0.0 | 0.0 | 0.0 | 0.0 |
| Dividend per share | 0.21 | 0.00 | 0.00 | – | – |
| Fiscal year | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 11.2% | 2.1% | 0.7% | 1.7% |
| Operating margin | −15.0% | −1.7% | −10.5% | −2.8% | 3.3% |
| Net margin | −19.8% | −4.4% | −17.1% | −5.0% | −6.3% |
| Return on equityBlank when equity is negative | −90.6% | −27.6% | −78.1% | −17.0% | −28.6% |
| ROCEEBIT ÷ (assets − current liabilities) | −10.9% | −1.4% | −8.2% | −2.1% | 2.5% |
| Free cash flow margin | 15.1% | 12.4% | 10.3% | 4.2% | 13.7% |
| Cash conversion (CFO ÷ net income) | −0.83x | −3.34x | −0.76x | −2.20x | −4.16x |
| Receivable days | 31 | 18 | 20 | 73 | 48 |
| Interest cover | −1.02x | −0.25x | −1.09x | −0.31x | 0.29x |
| Debt ÷ equity | 4.99x | 5.90x | 3.77x | 3.29x | 4.58x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 515 | 537 | 473 | 551 | 622 |
| Current ratio | 0.48x | 0.37x | 0.36x | 0.38x | 0.33x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.