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MANU

Manchester United NYSE:MANU Stock Report

Last Price

US$13.07

Market Cap

US$2.1b

7D

-7.6%

1Y

-34.6%

Updated

24 Sep, 2022

Data

Company Financials +
MANU fundamental analysis
Snowflake Score
Valuation1/6
Future Growth0/6
Past Performance0/6
Financial Health2/6
Dividends0/6

MANU Stock Overview

Manchester United plc, together with its subsidiaries, owns and operates a professional sports team in the United Kingdom.

Manchester United Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Manchester United
Historical stock prices
Current Share PriceUS$13.07
52 Week HighUS$20.86
52 Week LowUS$10.41
Beta0.62
1 Month Change-3.69%
3 Month Change12.96%
1 Year Change-34.55%
3 Year Change-20.35%
5 Year Change-27.39%
Change since IPO-6.64%

Recent News & Updates

Sep 21

Manchester United FQ4 2022 Earnings Preview

Manchester United (NYSE:MANU) is scheduled to announce FQ4 earnings results on Thursday, September 22nd, before market open. The consensus EPS Estimate is -$0.23 (-9.5% Y/Y) and the consensus Revenue Estimate is $165.77M (+76.4% Y/Y). Over the last 1 year, MANU has beaten EPS estimates 75% of the time and has beaten revenue estimates 75% of the time.

Sep 07

Manchester United expands global partnership with Therabody

Manchester United (NYSE:MANU) and global wellness technology company Therabody have accentuated their relationship by becoming global partners in a multi-year pact. The move will expand Manchester United's use of Therabody products and solutions as part of the training and recovery regimes of both the men's and women's teams. Therabody's devices aim to help United's players meet the physical demands of the sport. Manchester United will have access to Theraguns in their training facilities. As part of the global alliance, players, and training staff will participate in education sessions with performance and wellness experts from Therabody University, the company's educational division. Recently, Manchester United reports Glazer family looking for £3.75B in sale.

Shareholder Returns

MANUUS EntertainmentUS Market
7D-7.6%-7.4%-5.2%
1Y-34.6%-51.3%-23.0%

Return vs Industry: MANU exceeded the US Entertainment industry which returned -51.3% over the past year.

Return vs Market: MANU underperformed the US Market which returned -23.1% over the past year.

Price Volatility

Is MANU's price volatile compared to industry and market?
MANU volatility
MANU Average Weekly Movement6.0%
Entertainment Industry Average Movement9.3%
Market Average Movement6.9%
10% most volatile stocks in US Market15.8%
10% least volatile stocks in US Market2.8%

Stable Share Price: MANU is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: MANU's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
18781,068Richard Arnoldhttps://www.manutd.com

Manchester United plc, together with its subsidiaries, owns and operates a professional sports team in the United Kingdom. It operates Manchester United Football Club, a professional football club. The company develops marketing and sponsorship relationships with international and regional companies to leverage its brand.

Manchester United Fundamentals Summary

How do Manchester United's earnings and revenue compare to its market cap?
MANU fundamental statistics
Market CapUS$2.13b
Earnings (TTM)-US$126.28m
Revenue (TTM)US$637.59m

3.3x

P/S Ratio

-16.9x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MANU income statement (TTM)
RevenueUK£583.20m
Cost of Revenue-UK£48.00k
Gross ProfitUK£583.25m
Other ExpensesUK£698.76m
Earnings-UK£115.51m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-0.71
Gross Margin100.01%
Net Profit Margin-19.81%
Debt/Equity Ratio498.9%

How did MANU perform over the long term?

See historical performance and comparison

Dividends

1.2%

Current Dividend Yield

-21%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is MANU undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MANU?

Other financial metrics that can be useful for relative valuation.

MANU key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue4.3x
Enterprise Value/EBITDA31.1x
PEG Ration/a

Price to Sales Ratio vs Peers

How does MANU's PS Ratio compare to its peers?

MANU PS Ratio vs Peers
The above table shows the PS ratio for MANU vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average1.2x
LGF.A Lions Gate Entertainment
0.6x6.9%US$2.0b
MSGE Madison Square Garden Entertainment
1x14.4%US$1.7b
IQ iQIYI
0.6x6.0%US$2.4b
BATR.K Liberty Braves Group
2.5x2.8%US$1.4b
MANU Manchester United
3.3x5.7%US$2.1b

Price-To-Sales vs Peers: MANU is expensive based on its Price-To-Sales Ratio (3.3x) compared to the peer average (1.2x).


Price to Earnings Ratio vs Industry

How does MANU's PE Ratio compare vs other companies in the US Entertainment Industry?

Price-To-Sales vs Industry: MANU is expensive based on its Price-To-Sales Ratio (3.3x) compared to the US Entertainment industry average (1.5x)


Price to Sales Ratio vs Fair Ratio

What is MANU's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MANU PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3.3x
Fair PS Ratio2.6x

Price-To-Sales vs Fair Ratio: MANU is expensive based on its Price-To-Sales Ratio (3.3x) compared to the estimated Fair Price-To-Sales Ratio (2.6x).


Share Price vs Fair Value

What is the Fair Price of MANU when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MANU ($13.07) is trading above our estimate of fair value ($9.03)

Significantly Below Fair Value: MANU is trading above our estimate of fair value.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Future Growth

How is Manchester United forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


68.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MANU is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: MANU is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: MANU is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: MANU's revenue (5.7% per year) is forecast to grow slower than the US market (7.6% per year).

High Growth Revenue: MANU's revenue (5.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MANU's Return on Equity is forecast to be low in 3 years time (0.4%).


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Past Performance

How has Manchester United performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-66.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MANU is currently unprofitable.

Growing Profit Margin: MANU is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: MANU is unprofitable, and losses have increased over the past 5 years at a rate of 66% per year.

Accelerating Growth: Unable to compare MANU's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MANU is unprofitable, making it difficult to compare its past year earnings growth to the Entertainment industry (-12.2%).


Return on Equity

High ROE: MANU has a negative Return on Equity (-90.59%), as it is currently unprofitable.


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Financial Health

How is Manchester United's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: MANU's short term assets (£237.2M) do not cover its short term liabilities (£494.8M).

Long Term Liabilities: MANU's short term assets (£237.2M) do not cover its long term liabilities (£671.3M).


Debt to Equity History and Analysis

Debt Level: MANU's net debt to equity ratio (403.8%) is considered high.

Reducing Debt: MANU's debt to equity ratio has increased from 104.9% to 498.9% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable MANU has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: MANU is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 33% per year.


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Dividend

What is Manchester United current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


1.19%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: MANU's dividend (1.19%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.65%).

High Dividend: MANU's dividend (1.19%) is low compared to the top 25% of dividend payers in the US market (4.57%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, MANU has been paying a dividend for less than 10 years.

Growing Dividend: MANU's dividend payments have increased, but the company has only paid a dividend for 7 years.


Earnings Payout to Shareholders

Earnings Coverage: MANU is paying a dividend but the company is unprofitable.


Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (791.1%), MANU's dividend payments are not well covered by cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

6.0yrs

Average management tenure


CEO

Richard Arnold (51 yo)

9.17yrs

Tenure

Mr. Richard Arnold has been Chief Executive Officer at Manchester United plc since February 1, 2022 and serves as its Director since August 2012 and served as its Group Managing Director since July 1, 2013...


Leadership Team

Experienced Management: MANU's management team is seasoned and experienced (6 years average tenure).


Board Members

Experienced Board: MANU's board of directors are seasoned and experienced ( 10.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

NYSE:MANU Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
08 Oct 21SellUS$161,310,000Edward GlazerIndividual9,500,000US$16.98

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 93.82% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
14.48%
Joel Glazer
23,606,980£308.5m0%no data
13.19%
Darcie Glazer Kassewitz
21,503,171£281.0m0%no data
12.21%
Bryan Glazer
19,899,365£260.1m0%no data
10.19%
Avram Glazer
16,606,979£217.1m0%no data
9.75%
Edward Glazer
15,899,366£207.8m0%no data
7.44%
Kevin Glazer
12,133,974£158.6m0%no data
7.12%
Ariel Investments, LLC
11,604,535£151.7m-5.57%1.44%
6.62%
Lindsell Train Limited
10,792,676£141.1m1.85%0.76%
2.31%
Kegt Holdings Llc
3,765,392£49.2m0%no data
2.29%
Massachusetts Financial Services Company
3,732,415£48.8m14.62%0.01%
1.76%
Invesco Capital Management LLC
2,869,363£37.5m0%0.03%
0.95%
Baron Capital Group, Inc.
1,553,888£20.3m-72.17%0.05%
0.76%
Millennium Management LLC
1,237,950£16.2m157.43%0.02%
0.64%
Janus Henderson Group plc
1,037,782£13.6m-0.26%0.01%
0.59%
Harvey Partners, LLC
963,500£12.6m92.7%2.94%
0.51%
Alyeska Investment Group, L.P.
829,632£10.8m66.87%0.13%
0.43%
Ceredex Value Advisors LLC
704,777£9.2m0%0.14%
0.43%
Group One Trading LP, Asset Management Arm
700,666£9.2m-33.56%0.27%
0.34%
Renaissance Technologies LLC
559,500£7.3m16.47%0.01%
0.33%
Edward Woodward
543,141£7.1m0%no data
0.32%
Pinnacle Associates, Ltd.
517,386£6.8m0%0.15%
0.31%
One Fin Capital Management LP
500,000£6.5m0%2.42%
0.29%
Aviva Investors Global Services Limited
480,000£6.3m0%0.01%
0.29%
CI Global Asset Management
468,743£6.1m-38.32%0.02%
0.26%
Border To Coast Pensions Partnership Limited
420,000£5.5m0%0.05%

Company Information

Manchester United plc's employee growth, exchange listings and data sources


Key Information

  • Name: Manchester United plc
  • Ticker: MANU
  • Exchange: NYSE
  • Founded: 1878
  • Industry: Movies and Entertainment
  • Sector: Media
  • Implied Market Cap: US$2.130b
  • Shares outstanding: 163.00m
  • Website: https://www.manutd.com

Number of Employees


Location

  • Manchester United plc
  • Sir Matt Busby Way
  • Old Trafford
  • Manchester
  • Greater Manchester
  • M16 0RA
  • United Kingdom


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MANUNYSE (New York Stock Exchange)YesClass A Ordinary SharesUSUSDAug 2012
MUFDB (Deutsche Boerse AG)YesClass A Ordinary SharesDEEURAug 2012
MANU NBMV (Bolsa Mexicana de Valores)YesClass A Ordinary SharesMXMXNAug 2012
0Z1QLSE (London Stock Exchange)YesClass A Ordinary SharesGBUSDAug 2012

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/24 00:00
End of Day Share Price2022/09/23 00:00
Earnings2022/06/30
Annual Earnings2022/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.