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MANU$22.62

Manchester United Ltd.

Last Updated
Jun 5, 20264 months ago
Moat & Trend
Management
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Competitive Radar

Moat Score

51/100

Executive Summary

Manchester United possesses one of the strongest global brands in sports, supported by an enormous fan base, elite historical success, and unusually powerful commercial pull. That brand still drives sponsorship, merchandising, media value, and stadium demand even during periods of poor on-field performance. However, the underlying business is exposed to competitive and sporting volatility: match outcomes, player recruitment, and managerial execution matter far more than in businesses with structural barriers. Switching costs are low for fans and commercial partners, while the club does not enjoy a true cost or scale monopoly within European football. The moat is real, but it is narrower than the brand suggests and has recently weakened.

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Last Updated
Jun 5, 20264 months ago
Target Price
Analyst Consensus
FAIR VALUE
Financial Strength

Financial Score

44/100

Executive Summary

Manchester United’s most notable strength is its resilient cash generation, with operating cash flow remaining positive and improving to a stronger TTM level, while analyst forecasts also point to reaccelerating revenue growth in FY2027. However, this sits alongside a fragile financial base: profitability has been persistently weak, with net losses across periods, thin or negative operating margins, and volatile earnings driven by non-core items. The balance sheet remains highly stretched, with negative working capital, low liquidity, and substantial debt against a largely intangible asset base. Free cash flow has also softened despite higher investment needs. Overall, MANU’s profile is improving at the margin but still looks constrained and uneven, consistent with its middling ratings across income, liquidity, cash flow, and growth.

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Frequently asked questions about Manchester United Ltd.

Does Manchester United Ltd. (MANU) have an economic moat?
MoatScan AI rates Manchester United Ltd. (MANU) 51/100 for moat strength, assessed across five sources of competitive advantage: network effects, switching costs, intangible assets, cost advantages and efficient scale. Manchester United possesses one of the strongest global brands in sports, supported by an enormous fan base, elite historical success, and unusually powerful commercial pull.Sign in free to see the Moat Type verdict and the pillar-by-pillar reasoning.
What is Manchester United Ltd.'s moat score?
Manchester United Ltd. (MANU) has a moat score of 51/100. The score is a weighted average of five pillar ratings: network effects, switching costs, intangible assets, cost advantages, and efficient scale. A higher score means the competitive advantages MoatScan AI identifies are wider and more durable.Sign in free to see each pillar rating, the Moat Type verdict and the moat trend.
How does MANU's share price compare with its estimated fair value?
MoatScan AI estimates MANU's intrinsic value with a discounted cash flow (DCF) model and shows how that estimate compares with the market price at the time of analysis. The estimate updates with each new financial analysis and is a research estimate, not a recommendation.Sign in free to see the fair value estimate and how it compares with the price.
What is Manchester United Ltd.'s fair value estimate?
MoatScan AI derives Manchester United Ltd.'s (MANU) fair value per share from a discounted cash flow (DCF) model built on the company's reported financials, analyst growth forecasts, and a discount rate reflecting its cost of capital. The Financial Analysis tab shows the estimate alongside every assumption behind it.Sign in free to see the estimate and the full assumptions behind it.

Disclaimer: The analysis on this page is generated by AI and is provided for informational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any security. Always conduct your own due diligence and consult a qualified financial adviser before making any investment decisions. MoatScan AI is an educational research tool. It is not licensed or registered with the Securities Commission Malaysia or any other financial regulator, and it holds no positions in, and receives no compensation from, any company analysed.