Loading...

Manchester United

NYSE:MANU
Snowflake Description

Moderate growth potential with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MANU
NYSE
$3B
Market Cap
  1. Home
  2. US
  3. Media
Company description

Manchester United plc, together with its subsidiaries, owns and operates a professional sports team in the United Kingdom. The last earnings update was 8 days ago. More info.


Add to Portfolio Compare Print
MANU Share Price and Events
7 Day Returns
-3.4%
NYSE:MANU
-2.3%
US Entertainment
-2.1%
US Market
1 Year Returns
-12.6%
NYSE:MANU
8.9%
US Entertainment
1.3%
US Market
MANU Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Manchester United (MANU) -3.4% -5.6% -13.3% -12.6% 7.4% 11.2%
US Entertainment -2.3% -4.1% 3.3% 8.9% 61.5% 88%
US Market -2.1% -4.2% 0% 1.3% 33.5% 38%
1 Year Return vs Industry and Market
  • MANU underperformed the Entertainment industry which returned 8.9% over the past year.
  • MANU underperformed the Market in United States of America which returned 1.3% over the past year.
Price Volatility
MANU
Industry
5yr Volatility vs Market

Value

 Is Manchester United undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Manchester United to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Manchester United.

NYSE:MANU Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.9%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:MANU
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6.7%
Entertainment Unlevered Beta Simply Wall St/ S&P Global 0.95
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.948 (1 + (1- 19%) (20.78%))
1.072
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.07
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.072 * 6.65%)
9.86%

Discounted Cash Flow Calculation for NYSE:MANU using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Manchester United is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:MANU DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 9.86%)
2019 122.20 Analyst x1 111.23
2020 57.54 Analyst x2 47.68
2021 65.81 Analyst x2 49.64
2022 97.19 Analyst x2 66.72
2023 92.67 Est @ -4.65% 57.91
2024 90.42 Est @ -2.43% 51.43
2025 89.62 Est @ -0.88% 46.40
2026 89.80 Est @ 0.2% 42.32
2027 90.66 Est @ 0.96% 38.89
2028 92.01 Est @ 1.49% 35.93
Present value of next 10 years cash flows £548.14
NYSE:MANU DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= £92.01 × (1 + 2.73%) ÷ (9.86% – 2.73%)
£1,325.71
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £1,325.71 ÷ (1 + 9.86%)10
£517.68
NYSE:MANU Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £548.14 + £517.68
£1,065.82
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £1,065.82 / 164.53
£6.48
NYSE:MANU Discount to Share Price
Calculation Result
Exchange Rate GBP/USD
(Reporting currency to currency of NYSE:MANU)
1.269
Value per Share
(USD)
= Value per Share in GBP x Exchange Rate (GBP/USD)
= £6.48 x 1.269
$8.22
Value per share (USD) From above. $8.22
Current discount Discount to share price of $18.39
= -1 x ($18.39 - $8.22) / $8.22
-123.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Manchester United is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Manchester United's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Manchester United's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:MANU PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in GBP £0.04
NYSE:MANU Share Price ** NYSE (2019-05-24) in USD $18.39
NYSE:MANU Share Price converted to GBP reporting currency Exchange rate (USD/ GBP) 0.788 £14.5
United States of America Entertainment Industry PE Ratio Median Figure of 20 Publicly-Listed Entertainment Companies 25.87x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.36x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Manchester United.

NYSE:MANU PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:MANU Share Price ÷ EPS (both in GBP)

= 14.5 ÷ 0.04

338.94x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Manchester United is overvalued based on earnings compared to the US Entertainment industry average.
  • Manchester United is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Manchester United's expected growth come at a high price?
Raw Data
NYSE:MANU PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 338.94x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
38.8%per year
United States of America Entertainment Industry PEG Ratio Median Figure of 17 Publicly-Listed Entertainment Companies 2.47x
United States of America Market PEG Ratio Median Figure of 2,120 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

NYSE:MANU PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 338.94x ÷ 38.8%

8.75x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Manchester United is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Manchester United's assets?
Raw Data
NYSE:MANU PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in GBP £2.76
NYSE:MANU Share Price * NYSE (2019-05-24) in USD $18.39
NYSE:MANU Share Price converted to GBP reporting currency Exchange rate (USD/ GBP) 0.788 £14.5
United States of America Entertainment Industry PB Ratio Median Figure of 57 Publicly-Listed Entertainment Companies 2.98x
United States of America Market PB Ratio Median Figure of 5,207 Publicly-Listed Companies 1.8x
NYSE:MANU PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:MANU Share Price ÷ Book Value per Share (both in GBP)

= 14.5 ÷ 2.76

5.26x

* Primary Listing of Manchester United.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Manchester United is overvalued based on assets compared to the US Entertainment industry average.
X
Value checks
We assess Manchester United's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Entertainment industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Entertainment industry average (and greater than 0)? (1 check)
  5. Manchester United has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Manchester United expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
38.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Manchester United expected to grow at an attractive rate?
  • Manchester United's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Manchester United's earnings growth is expected to exceed the United States of America market average.
  • Manchester United's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:MANU Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:MANU Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 38.8%
NYSE:MANU Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 5.4%
United States of America Entertainment Industry Earnings Growth Rate Market Cap Weighted Average 16%
United States of America Entertainment Industry Revenue Growth Rate Market Cap Weighted Average 11.6%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:MANU Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:MANU Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-06-30 773 1
2022-06-30 729 195 38 3
2021-06-30 678 179 14 3
2020-06-30 636 178 17 4
2019-06-30 623 254 17 4
NYSE:MANU Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-03-31 618 195 7
2018-12-31 613 194 6
2018-09-30 581 192 -40
2018-06-30 590 95 -37
2018-03-31 644 172 21
2017-12-31 624 191 10
2017-09-30 605 193 48
2017-06-30 581 228 39
2017-03-31 540 204 14
2016-12-31 536 170 31
2016-09-30 512 203 33
2016-06-30 515 186 36

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Manchester United's earnings are expected to grow significantly at over 20% yearly.
  • Manchester United's revenue is expected to grow by 5.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:MANU Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Manchester United Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:MANU Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-06-30
2022-06-30 0.20 0.20 0.20 1.00
2021-06-30 0.13 0.13 0.13 1.00
2020-06-30 0.11 0.13 0.08 2.00
2019-06-30 0.38 0.38 0.38 1.00
NYSE:MANU Past Financials Data
Date (Data in GBP Millions) EPS *
2019-03-31 0.04
2018-12-31 0.04
2018-09-30 -0.24
2018-06-30 -0.23
2018-03-31 0.13
2017-12-31 0.06
2017-09-30 0.29
2017-06-30 0.24
2017-03-31 0.09
2016-12-31 0.19
2016-09-30 0.20
2016-06-30 0.22

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Manchester United is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Manchester United's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Manchester United has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Manchester United performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Manchester United's growth in the last year to its industry (Entertainment).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Manchester United's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Manchester United's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Manchester United's 1-year earnings growth is negative, it can't be compared to the US Entertainment industry average.
Earnings and Revenue History
Manchester United's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Manchester United Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:MANU Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 617.59 7.03 317.48
2018-12-31 612.58 6.27 292.40
2018-09-30 581.38 -40.19 299.56
2018-06-30 590.02 -37.27 292.40
2018-03-31 644.08 21.02 285.41
2017-12-31 624.21 10.36 137.21
2017-09-30 604.66 47.59 270.66
2017-06-30 581.20 39.18 263.04
2017-03-31 539.84 13.97 254.18
2016-12-31 536.09 31.50 243.87
2016-09-30 512.00 32.57 236.01
2016-06-30 515.35 36.37 232.60
2016-03-31 486.55 30.42 225.70
2015-12-31 458.07 13.78 219.65
2015-09-30 430.07 -4.88 212.71
2015-06-30 395.18 -0.90 203.25
2015-03-31 385.62 0.19 206.34
2014-12-31 406.15 13.98 209.60
2014-09-30 423.31 33.07 212.48
2014-06-30 433.16 23.84 216.02
2014-03-31 422.04 135.76 209.96
2013-12-31 398.27 128.48 202.77
2013-09-30 385.39 125.57 194.05
2013-06-30 363.19 146.25 182.69
2013-03-31 352.59 25.15 182.52
2012-12-31 331.63 22.55 172.21
2012-09-30 322.85 48.39 167.99
2012-06-30 320.32 22.99 164.25

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Manchester United has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Manchester United used its assets less efficiently than the US Entertainment industry average last year based on Return on Assets.
  • Manchester United's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Manchester United's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Entertainment industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Manchester United has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Manchester United's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Manchester United's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Manchester United is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Manchester United's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Manchester United's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Manchester United Company Filings, last reported 1 month ago.

NYSE:MANU Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 453.81 495.53 193.86
2018-12-31 452.76 508.07 190.40
2018-09-30 432.45 494.70 247.51
2018-06-30 425.27 495.77 242.02
2018-03-31 466.52 462.97 161.72
2017-12-31 465.20 483.91 155.31
2017-09-30 493.61 484.82 216.24
2017-06-30 477.62 504.01 290.27
2017-03-31 457.81 519.04 152.65
2016-12-31 467.67 532.88 122.70
2016-09-30 455.27 510.76 164.28
2016-06-30 458.28 499.80 229.19
2016-03-31 478.36 459.87 104.20
2015-12-31 483.52 446.10 121.61
2015-09-30 473.41 433.81 143.53
2015-06-30 477.92 411.08 155.75
2015-03-31 473.21 397.46 11.20
2014-12-31 488.51 381.44 37.12
2014-09-30 497.52 363.10 90.27
2014-06-30 498.65 342.91 66.37
2014-03-31 499.49 352.72 34.34
2013-12-31 487.53 357.65 72.14
2013-09-30 464.20 362.29 83.60
2013-06-30 447.96 390.57 94.43
2013-03-31 341.85 374.01 36.21
2012-12-31 340.39 384.25 66.63
2012-09-30 324.69 361.41 52.53
2012-06-30 235.10 438.56 70.69
  • Manchester United's level of debt (109.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (70.6% vs 109.2% today).
  • Debt is well covered by operating cash flow (39.4%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.5x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Manchester United's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Manchester United has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.97%
Current annual income from Manchester United dividends. Estimated to be 1.18% next year.
If you bought $2,000 of Manchester United shares you are expected to receive $19 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Manchester United's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • Manchester United's dividend is below the markets top 25% of dividend payers in United States of America (3.76%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:MANU Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
United States of America Entertainment Industry Average Dividend Yield Market Cap Weighted Average of 11 Stocks 1.3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:MANU Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2023-06-30
2022-06-30 0.18 1.00
2021-06-30 0.18 1.00
2020-06-30 0.16 2.00
2019-06-30 0.18 1.00
NYSE:MANU Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-05-17 0.141 0.966
2019-05-16 0.141 0.946
2019-02-14 0.135 0.914
2018-11-16 0.137 0.956
2018-11-15 0.140 0.871
2018-09-28 0.136 0.839
2018-09-25 0.137 0.790
2018-05-18 0.134 0.815
2018-05-17 0.133 0.876
2018-02-09 0.126 0.927
2018-02-08 0.129 0.947
2017-11-17 0.126 0.893
2017-11-16 0.136 0.934
2017-10-13 0.135 0.977
2017-09-21 0.133 1.004
2017-05-19 0.133 1.078
2017-05-16 0.138 1.099
2017-02-10 0.139 1.086
2017-02-09 0.144 1.184
2016-11-18 0.142 1.190
2016-11-17 0.145 1.192
2016-09-15 0.136 1.126
2016-09-12 0.135 1.047
2016-05-13 0.122 1.094
2016-02-12 0.123 1.218
2016-02-11 0.125 1.238
2015-09-17 0.116 1.043

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Manchester United has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Manchester United only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of Manchester United's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.8x coverage).
X
Income/ dividend checks
We assess Manchester United's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Manchester United afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Manchester United has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Manchester United's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Joel Glazer
AGE 51
CEO Bio

Mr. Joel M. Glazer has been Executive Co-Chairman of Manchester United plc (alternate name, Manchester United Limited) since June 6, 2005 and also serves as its Principal Executive Officer. Mr. Glazer has been an Executive Vice President of the Tampa Bay Buccaneers of the NFL since 1995 and serves as its Co-Chairman. He has extensive sports management experience. He served as Vice President of First Allied Corporation since 1989, a US real estate investment company. Mr. Glazer has been Co-Chairman of Buccaneers Limited Partnership since 2009. He has been a Director of Houlihan's Restaurants, Inc. since September 16, 1992. He serves as a Director of the Buccaneers Limited Partnership. He serves as a Director of Red Football Limited. He holds Bachelor's degree in interdisciplinary studies from American University in 1989.

CEO Compensation
  • Insufficient data for Joel to compare compensation growth.
  • Insufficient data for Joel to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Manchester United management team in years:

3.2
Average Tenure
47
Average Age
  • The tenure for the Manchester United management team is about average.
Management Team

Joel Glazer

TITLE
Executive Co-Chairman & Principal Executive Officer
AGE
51

Avie Glazer

TITLE
Executive Co-Chairman
AGE
58

Ed Woodward

TITLE
Executive Vice Chairman
AGE
46

Cliff Baty

TITLE
CFO & Director
AGE
47
TENURE
3.2 yrs

Charlie Brooks

TITLE
Director of Communications

Richard Arnold

TITLE
Group MD & Director
AGE
47
TENURE
5.8 yrs

Phil Rainford

TITLE
Head of Stadium Safety & Security

John Alexander

TITLE
Secretary

Phil Lynch

TITLE
Chief Executive Officer of Media
TENURE
2.3 yrs
Board of Directors Tenure

Average tenure and age of the Manchester United board of directors in years:

6.7
Average Tenure
51
Average Age
  • The tenure for the Manchester United board of directors is about average.
Board of Directors

Joel Glazer

TITLE
Executive Co-Chairman & Principal Executive Officer
AGE
51

Avie Glazer

TITLE
Executive Co-Chairman
AGE
58

Ed Woodward

TITLE
Executive Vice Chairman
AGE
46

Cliff Baty

TITLE
CFO & Director
AGE
47

Richard Arnold

TITLE
Group MD & Director
AGE
47

Robert Leitão

TITLE
Independent Director
AGE
55

Bryan Glazer

TITLE
Director
AGE
53
TENURE
13.9 yrs

Kevin Glazer

TITLE
Director
AGE
56

Manu Sawhney

TITLE
Independent Director
AGE
51
TENURE
6.7 yrs

Edward Glazer

TITLE
Director
AGE
48
TENURE
6.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Manchester United's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Manchester United has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

What does Manchester United plc's (NYSE:MANU) Balance Sheet Tell Us About Its Future?

Check out our latest analysis for Manchester United MANU’s Debt (And Cash Flows) Over the past year, MANU has maintained its debt levels at around UK£508m including long-term debt. … At this current level of debt, MANU currently has UK£190m remaining in cash and short-term investments to keep the business going. … Additionally, MANU has produced cash from operations of UK£194m during the same period of time, leading to an operating cash to total debt ratio of 38%, signalling that MANU’s current level of operating cash is high enough to cover debt.

Simply Wall St -

If You Had Bought Manchester United (NYSE:MANU) Stock Five Years Ago, You Could Pocket A 17% Gain Today

Furthermore, you'd generally like to see the share price rise faster than the market. … Manchester United's earnings per share are down 45% per year, despite strong share price performance over five years. … The strong decline in earnings per share suggests the market isn't using EPS to judge the company.

Simply Wall St -

Is Manchester United plc (NYSE:MANU) Struggling With Its 4.3% Return On Capital Employed?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Return On Capital Employed (ROCE): What is it? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Should You Be Concerned About Manchester United plc's (NYSE:MANU) ROE?

By way of learning-by-doing, we'll look at ROE to gain a better understanding of Manchester United plc (NYSE:MANU). … Check out our latest analysis for Manchester United? … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is Manchester United plc's (NYSE:MANU) Balance Sheet A Threat To Its Future?

Stocks with market capitalization between $2B and $10B, such as Manchester United plc (NYSE:MANU) with a size of US$2.9b, do not attract as much attention from the investing community as do the small-caps and large-caps. … Today we will look at MANU’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … Check out our latest analysis for Manchester United

Simply Wall St -

What You Must Know About Manchester United plc's (NYSE:MANU) Financial Strength

Small-cap and large-cap companies receive a lot of attention from investors, but mid-cap stocks like Manchester United plc (NYSE:MANU), with a market cap of UK£3.54b, are often out of the spotlight. … MANU’s financial liquidity and debt position will be analysed in this article, to get an idea of whether the company can fund opportunities for strategic growth and maintain strength through economic downturns. … Check out our latest analysis for Manchester United

Simply Wall St -

What Is Manchester United plc's (NYSE:MANU) Share Price Doing?

Manchester United plc (NYSE:MANU), a media company based in United Kingdom,. … Let’s take a look at Manchester United’s outlook and value based on the most recent financial data to see if the opportunity still exists? … Check out our latest analysis for Manchester United

Simply Wall St -

Manchester United plc (NYSE:MANU): Does The -102.08% Earnings Drop Reflect A Longer Term Trend?

When Manchester United plc (NYSE:MANU) released its most recent earnings update (31 December 2017), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … Check out our latest analysis for Manchester United How Did MANU's Recent Performance Stack Up Against Its Past? … For Manchester United, its latest trailing-twelve-month earnings is -UK£656.00K, which, in comparison to last year’s level, has turned from positive to negative.

Simply Wall St -

Should You Buy Manchester United plc (NYSE:MANU)?

Manchester United plc (NYSE:MANU), a media company based in United Kingdom, saw significant share price volatility over the past couple of months on the NYSE, rising to the highs of $20.8 and falling to the lows of $18.5. … Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. … Though in the case of Manchester United, it is expected to deliver a highly negative earnings growth in the upcoming, which doesn’t help build up its investment thesis.

Simply Wall St -

What does Manchester United plc's (NYSE:MANU) Balance Sheet Tell Us About Its Future?

At this current level of debt, MANU's cash and short-term investments stands at UK£290.27M , ready to deploy into the business. … On top of this, MANU has generated cash from operations of UK£227.66M over the same time period, resulting in an operating cash to total debt ratio of 45.17%, indicating that MANU’s current level of operating cash is high enough to cover debt. … Next Steps: MANU’s high cash coverage means that, although its debt levels are high, the company is able to utilise its borrowings efficiently in order to generate cash flow.

Simply Wall St -

Company Info

Description

Manchester United plc, together with its subsidiaries, owns and operates a professional sports team in the United Kingdom. The company operates Manchester United Football Club, a professional football club. It develops marketing and sponsorship relationships with international and regional companies to leverage its brand. The company also markets and sells sports apparel, training and leisure wear, and other clothing featuring the Manchester United brand; and sells other licensed products, such as coffee mugs and bed spreads featuring the Manchester United brand and trademarks, as well as distributes these products through Manchester United branded retail centers and e-commerce platforms, and through the company’s partners’ wholesale distribution channels. In addition, it distributes live football content directly, as well as through commercial partners; broadcasts television rights relating to the Premier League, Union of European Football Associations competitions, and other competitions; and delivers Manchester United programming through MUTV television channel to territories worldwide. Further, the company offers a direct to consumer subscription mobile application in 167 territories; and operates Old Trafford, a sports venue with 74,989 seats. Manchester United plc was founded in 1878 and is based in Manchester, the United Kingdom. Manchester United plc is a subsidiary of Red Football LLC.

Details
Name: Manchester United plc
MANU
Exchange: NYSE
Founded: 1878
$3,025,640,312
164,526,390
Website: http://www.manutd.com
Address: Manchester United plc
Sir Matt Busby Way,
Old Trafford,
Manchester,
Greater Manchester, M16 0RA,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE MANU Class A Ordinary Shares New York Stock Exchange US USD 10. Aug 2012
LSE 0Z1Q Class A Ordinary Shares London Stock Exchange GB USD 10. Aug 2012
BMV MANU N Class A Ordinary Shares Bolsa Mexicana de Valores MX MXN 10. Aug 2012
Number of employees
Current staff
Staff numbers
950
Manchester United employees.
Industry
Movies and Entertainment
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/25 00:34
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/05/17
Last earnings filing: 2019/05/17
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.