Manchester United vs Sphere Entertainment
Sphere Entertainment is the larger business, with $1.22bn of revenue in fiscal 2025 against $910m for Manchester United (1.3 times as much). Sphere Entertainment grew faster (18.8% against 5.4%). Sphere Entertainment kept more of each dollar of sales as profit: a net margin of 2.7% against -6.3%. Sphere Entertainment carries less debt relative to equity (37.2% against 458.2%).
| Latest fiscal year | Manchester UnitedMANU, 2026 | Sphere EntertainmentSPHR, 2025 |
|---|---|---|
| Revenue | $910m | $1.22bn |
| Revenue growth | 5.4% | 18.8% |
| Net income | −$57.7m | $33.4m |
| Operating margin | 3.3% | -18.8% |
| Net margin | -6.3% | 2.7% |
| Return on equity | -24.8% | 1.4% |
| Free cash flow | $125m | $243m |
| Cash | $89.2m | $508m |
| Total debt | $913m | $830m |
| Debt to equity | 458.2% | 37.2% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $50.0m |
| Employees | — | — |
| Market value | $3.73bn | $3.81bn |
| Price vs our value range | Above our value range | — |
| Moat score | — | 16 (Weak) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 0 sales |