Manchester United plc key statistics and ratios

In fiscal 2026, Manchester United plc had return on equity of -24.8%, an operating margin of 3.3%, debt equal to 458.2% of equity and a current ratio of 0.33. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Manchester United plc: financial ratios, annual
Fiscal year	2016Jun 2016	2017Jun 2017	2018Jun 2018	2019Jun 2019	2020Jun 2020	2021Jun 2021	2022Jun 2022	2023Jun 2023	2024Jun 2024	2025Jun 2025	2026Jun 2026
Operating margin	13.4%	13.9%	7.4%	8.0%	1.0%	−7.5%	−15.0%	−1.7%	−10.5%	−2.8%	3.3%
Net margin	7.1%	6.7%	−6.4%	3.0%	−4.6%	−18.7%	−19.8%	−4.4%	−17.1%	−5.0%	−6.3%
Free-cash-flow margin	35.1%	37.7%	13.9%	36.8%	−4.9%	21.6%	15.1%	12.4%	10.3%	4.2%	13.7%
Return on equity	8.8%	8.1%	−8.5%	4.5%	−6.1%	−30.7%	−57.9%	−24.1%	−90.4%	−19.0%	−24.8%
Return on assets	—	2.5%	−2.5%	1.2%	−1.6%	−7.2%	−9.3%	−2.1%	−8.4%	−2.2%	−2.7%
Asset turnover	—	0.37	0.39	0.41	0.36	0.39	0.47	0.48	0.49	0.44	0.42
Current ratio	—	0.97	0.90	0.91	0.56	0.55	0.48	0.37	0.36	0.38	0.33
Debt to equity	0.0%	104.8%	116.1%	123.1%	149.6%	194.6%	498.9%	590.0%	377.3%	328.8%	458.2%
Interest cover (operating income ÷ interest)	—	—	—	—	39.9x	n/m	n/m	n/m	n/m	n/m	75.5x
Effective tax rate	25.5%	30.7%	—	31.3%	—	—	—	—	—	—	—
Capital spending as % of revenue	1.0%	1.4%	2.2%	2.2%	4.2%	1.3%	1.4%	2.4%	2.6%	6.7%	12.7%
Free cash flow ÷ net income	497.6%	559.3%	—	>999%	—	—	—	—	—	—	—
Dividends ÷ net income	55.2%	59.4%	—	123.5%	—	—	—	—	—	—	—
Dividends and buybacks ÷ free cash flow	11.1%	10.6%	26.8%	10.1%	—	10.0%	38.1%	—	—	—	—

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 6 checks passed · June 30, 2026

What it owns · $2.1bn

Short-term assets $286mLonger-term assets $1.8bn

What it owes, and who funded it · $1.1bn

Short-term liabilities $872mShareholders' equity $199m

Short-term assets cover short-term liabilities $286m of assets due within a year against $872m of liabilities due within a year.
Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
More cash than debt $89m of cash against $766m of debt.
Debt below 40% of shareholders' equity Debt is 384% of equity.
Debt burden no higher than five years ago Debt to equity moved from 171% to 384% over five years.
A year's operating cash flow covers at least 20% of debt $240m of operating cash flow against $766m of debt.
Operating profit covers interest at least five times over Operating income of $30m against $402,726 of interest.

From Manchester United plc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Manchester United plc's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Manchester United plc.