Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Manchester United plc files with the SEC in its annual reports.
In GBP millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2016
FY2018
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
515
581
590
627
509
494
583
648
662
667
Operating income
68.9
80.9
43.9
50
5.22
-36.9
-87.4
-11.2
-69.4
-18.4
Interest expense
20.5
25
24.2
25.5
27.4
36.4
85.9
44.9
63.9
59
Interest income
0.44
0.74
6.2
2.96
1.35
49.3
23.7
23.5
2.5
37.8
Pre-tax income
48.8
56.6
25.8
27.5
-20.8
-24
-150
-32.6
-131
-39.7
Income tax
12.5
17.4
63.5
8.6
2.42
68.2
-34.1
-3.9
-17.6
-6.64
Net income
36.4
39.2
-37.6
18.9
-23.2
-92.2
-116
-28.7
-113
-33
EPS, basic
0.22
0.24
-0.23
0.11
-0.14
-0.57
-0.71
-0.18
-0.68
-0.19
EPS, diluted
0.22
0.24
-0.23
0.11
-0.14
-0.57
-0.71
-0.18
-0.68
-0.19
Balance sheet
FY2016
FY2018
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
229
290
242
308
51.5
111
121
76
73.5
86.1
Receivables
104
168
Inventory
1.64
1.42
2.13
2.19
2.08
2.2
3.17
3.54
13.1
Total current assets
399
413
388
225
213
237
194
177
284
Property, plant and equipment
246
245
245
246
254
247
243
253
256
292
Lease right-of-use assets
4.56
4.38
4.07
8.76
8.2
7.15
Total assets
1,534
1,546
1,497
1,383
1,260
1,294
1,318
1,345
1,638
Accounts payable
190
268
230
216
193
221
236
249
359
Total current liabilities
411
461
429
398
384
495
527
495
750
Lease liabilities
3.33
3.08
2.87
7.84
7.71
7.9
Total liabilities
1,054
1,119
1,081
1,032
988
1,166
1,214
1,200
1,444
Total debt
503
496
511
526
530
636
613
547
637
Paid-in capital
68.8
68.8
68.8
68.8
68.8
68.8
68.8
227
307
Retained earnings
193
137
133
87.2
-13.7
-170
-197
-309
-342
Total equity
460
480
427
415
351
273
128
104
145
194
Total liabilities and equity
1,534
1,546
1,497
1,383
1,260
1,294
1,318
1,345
1,638
Cash flow statement
FY2016
FY2018
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
36.4
39.2
-37.6
18.9
-23.2
-92.2
-116
-28.7
-113
-33
Cash from operations
186
228
95.3
245
-3.82
113
96.4
95.8
85.7
72.7
Capital expenditures
-5.1
-8.37
-13.3
-13.7
-21.3
-6.24
-8.32
-15.6
-17.5
-44.7
Cash from investing
-105
-151
-121
-161
-213
-99.4
-93.4
-140
-171
-275
Debt issued
60
40
100
160
230
Debt repaid
-0.37
-0.4
-0.42
-3.75
-100
-230
-100
Stock issued
159
80
Share buybacks
-21.3
Dividends paid
-20.1
-23.3
-22
-23.3
-23.2
-10.7
-33.6
0
0
0
Cash from financing
-20.5
-23.7
-22.4
-27.1
-46.4
47.6
5.04
-1.95
86.2
210
Exchange rate effect
12.6
8.07
0.18
9.25
6.97
-2.23
2.59
1.14
-3.17
4.95
Net change in cash
59.1
10.6
-45.2
-2.47
12.6
Free cash flow
181
219
82
231
-25.1
107
88
80.2
68.2
28
Interest paid
13.2
19.5
18.9
19
20.5
20.5
20.6
32
37.2
37.2
Income taxes paid
4.84
1.63
-3.75
0.95
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. No valuation: the share price is quoted in a different currency than the statements.
Profitability
Metric
Value
How it is calculated
Operating margin
-2.8%
Operating income / revenue.
Pre-tax margin
-6.0%
Pre-tax income / revenue.
Net margin
-5.0%
Net income / revenue.
FCF margin
4.2%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
10.9%
Cash from operations / revenue.
Return on assets (ROA)
-2.2%
Net income / average total assets.
Capex / revenue
6.7%
Capital expenditures / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
0.7%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
4.6%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
5.5%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y
-15.1%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y
-9.0%
Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow growth, 1y
-58.9%
Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y
-31.8%
Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
21.8%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
8.2%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
3.4%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.38x
Current assets / current liabilities.
Quick ratio
0.11x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.11x
(Cash + short-term investments) / current liabilities.
Debt / assets
38.9%
Total debt / total assets.
Liabilities / assets
88.2%
Total liabilities / total assets.
Net debt
£550.9M
Total debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage
-0.31x
Operating income / interest expense.
Working capital
-£466.4M
Current assets - current liabilities.
Efficiency
Metric
Value
How it is calculated
Asset turnover
0.45x
Revenue / average total assets.
Fixed asset turnover
2.43x
Revenue / average property, plant and equipment.
Capex / operating cash flow
61.5%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
-£0.19
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
-£0.19
Net income per basic share, as reported (split-adjusted).
Dividends / FCF
0.0%
Dividends paid / free cash flow, when free cash flow is positive.
What was Manchester United plc's revenue in fiscal 2025?
Manchester United plc reported revenue of £666.5M for fiscal 2025, 0.7% higher than the year before.
Was Manchester United plc profitable in fiscal 2025?
No. It reported a net loss of £33.0M.
How much free cash flow did Manchester United plc generate in fiscal 2025?
Cash from operations of £72.7M minus capital expenditures of £44.7M left free cash flow of £28.0M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.