Manchester United Cash Flow Statement

Financials in millions GBP. Fiscal year is July - June.

Millions GBP. Fiscal year is Jul - Jun.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Jun '25 Jun 30, 2025	Jun '24 Jun 30, 2024	Jun '23 Jun 30, 2023	Jun '22 Jun 30, 2022	Jun '21 Jun 30, 2021
Net Income	-40.99	-33.02	-113.16	-28.68	-115.51	-92.22
Depreciation & Amortization	214.83	213.38	206.65	186.53	165.78	139.36
Other Amortization	2.19	1.94	1.55	0.75	0.71	0.63
Loss (Gain) From Sale of Assets	-58.23	-48.74	-37.42	-20.42	-21.94	-7.38
Stock-Based Compensation	0.47	0.66	0.88	1.75	0.2	2.09
Other Operating Activities	9.78	-19.87	12.51	-13.08	1.46	33.08
Change in Accounts Receivable	-27.33	-65.99	5.91	17.34	3.79	77.12
Change in Inventory	-5.75	-9.51	-0.38	-0.97	-0.12	0.11
Change in Accounts Payable	-46.88	29	-18.9	-31.14	22.48	5.42
Change in Unearned Revenue	-7.11	7.43	27.69	-6.26	41.62	-49.41
Change in Other Net Operating Assets	17.11	-2.56	0.35	-10.06	-2.09	4.3
Operating Cash Flow	58.08	72.7	85.67	95.77	96.37	113.08
Operating Cash Flow Growth	-25.08%	-15.14%	-10.54%	-0.63%	-14.78%	-
Capital Expenditures	-51.4	-44.72	-17.51	-15.61	-8.32	-6.24
Sale (Purchase) of Intangibles	-209.49	-229.95	-153.69	-124.55	-85.11	-92.19
Other Investing Activities	-	-	-	-	-	-0.94
Investing Cash Flow	-260.89	-274.68	-171.2	-140.16	-93.43	-99.37
Long-Term Debt Issued	-	230	160	100	40	60
Long-Term Debt Repaid	-	-100.4	-230.98	-101.95	-1.41	-1.64
Net Debt Issued (Repaid)	34.52	129.6	-70.98	-1.95	38.59	58.36
Issuance of Common Stock	79.99	79.99	158.54	-	-	-
Common Dividends Paid	-	-	-	-	-33.55	-10.72
Other Financing Activities	-2.1	-	-1.34	-	-	-
Financing Cash Flow	112.4	209.58	86.23	-1.95	5.04	47.64
Foreign Exchange Rate Adjustments	21.31	4.95	-3.17	1.14	2.59	-2.23
Net Cash Flow	-69.1	12.56	-2.47	-45.2	10.57	59.12
Free Cash Flow	6.68	27.98	68.16	80.16	88.05	106.84
Free Cash Flow Growth	-88.63%	-58.95%	-14.97%	-8.96%	-17.59%	-
Free Cash Flow Margin	1.01%	4.20%	10.30%	12.36%	15.10%	21.62%
Free Cash Flow Per Share	0.04	0.16	0.41	0.49	0.54	0.66
Cash Interest Paid	36.69	37.2	37.23	31.95	20.64	20.54
Cash Income Tax Paid	1.38	0.95	-3.75	1.63	4.84	4.16
Levered Free Cash Flow	-113.77	-67.38	27.55	45.5	62.61	1.53
Unlevered Free Cash Flow	-90.46	-44.55	50.24	66.62	76.79	13.37
Change in Working Capital	-69.96	-41.64	14.67	-31.08	65.67	37.53

Source: S&P Global Market Intelligence. Standard template. Financial Sources.