Manchester United plc (MANU)

Manchester United Cash Flow Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Jun 30, 2025	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021
Net Income	-9.06	-33.02	-113.16	-28.68	-115.51	-92.22
Depreciation & Amortization	220.69	213.38	206.65	186.53	165.78	139.36
Other Amortization	1.94	1.94	1.55	0.75	0.71	0.63
Loss (Gain) From Sale of Assets	-60.57	-48.74	-37.42	-20.42	-21.94	-7.38
Stock-Based Compensation	0.34	0.66	0.88	1.75	0.2	2.09
Other Operating Activities	-5.14	-19.87	12.51	-13.08	1.46	33.08
Change in Accounts Receivable	-29.4	-65.99	5.91	17.34	3.79	77.12
Change in Inventory	-5.34	-9.51	-0.38	-0.97	-0.12	0.11
Change in Accounts Payable	-21.17	29	-18.9	-31.14	22.48	5.42
Change in Unearned Revenue	0.33	7.43	27.69	-6.26	41.62	-49.41
Change in Other Net Operating Assets	17.29	-2.56	0.35	-10.06	-2.09	4.3
Operating Cash Flow	109.88	72.7	85.67	95.77	96.37	113.08
Operating Cash Flow Growth	80.65%	-15.14%	-10.54%	-0.63%	-14.78%	-
Capital Expenditures	-46.22	-44.72	-17.51	-15.61	-8.32	-6.24
Sale (Purchase) of Intangibles	-201.37	-229.95	-153.69	-124.55	-85.11	-92.19
Other Investing Activities	-	-	-	-	-	-0.94
Investing Cash Flow	-247.58	-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)	78.26	129.6	-70.98	-1.95	38.59	58.36
Issuance of Common Stock	-	79.99	158.54	-	-	-
Common Dividends Paid	-	-	-	-	-33.55	-10.72
Other Financing Activities	-2.1	-	-1.34	-	-	-
Financing Cash Flow	76.16	209.58	86.23	-1.95	5.04	47.64
Foreign Exchange Rate Adjustments	10.41	4.95	-3.17	1.14	2.59	-2.23
Net Cash Flow	-51.14	12.56	-2.47	-45.2	10.57	59.12
Free Cash Flow	63.67	27.98	68.16	80.16	88.05	106.84
Free Cash Flow Growth	67.90%	-58.95%	-14.97%	-8.96%	-17.59%	-
Free Cash Flow Margin	9.71%	4.20%	10.30%	12.36%	15.10%	21.62%
Free Cash Flow Per Share	0.37	0.16	0.41	0.49	0.54	0.66
Cash Interest Paid	36.25	37.2	37.23	31.95	20.64	20.54
Cash Income Tax Paid	0.95	0.95	-3.75	1.63	4.84	4.16
Levered Free Cash Flow	-44.59	-67.38	27.55	45.5	62.61	1.53
Unlevered Free Cash Flow	-18.58	-44.55	50.24	66.62	76.79	13.37
Change in Working Capital	-38.31	-41.64	14.67	-31.08	65.67	37.53

Updated Feb 25, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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