Cash flow Manchester United plc

Equities

MANU

KYG5784H1065

Leisure & Recreation

Real-time Estimate Cboe BZX Other stock markets 11:00:52 2024-09-13 EDT			5-day change	1st Jan Change
16.13 ^USD	+2.22%		-1.46%	-20.41%

09-11	Equity Markets Rise After Consumer Inflation Report	MT
09-11	Consumer Inflation Report Helps Buoy Equity Markets	MT

af3087406b.6YPMYN69h2dS_lEbsW0nGoJH06KZvdOdCVdCTusQnrU.p9L9KOvH9R0UzGZE9QV4U_RziezQ-JfPXSYLGZFf1Ief-qA_tvnqKjGfCA

Published financial data: MANCHESTER UNITED PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: June	2019	2020	2021	2022	2023
Revenues	627M	509M	494M	583M	648M
Total Revenues	627M	509M	494M	583M	648M
Cost of Goods Sold, Total	65.87M	59.14M	39.04M	69.27M	101M
Gross Profit	561M	450M	455M	514M	547M
Selling General & Admin Expenses, Total	334M	285M	321M	384M	363M
Depreciation & Amortization - (IS)	11.73M	14.76M	14.96M	14.31M	13.85M
Amortization of Goodwill and Intangible Assets - (IS)	129M	127M	124M	151M	173M
Other Operating Expenses	41.74M	33.66M	37.91M	48.27M	26.1M
Other Operating Expenses, Total	516M	460M	499M	599M	576M
Operating Income	44.83M	-10.19M	-43.43M	-84.58M	-28.62M
Interest Expense, Total	-20.16M	-21.23M	-19.95M	-23.84M	-34.99M
Interest And Investment Income	2.82M	1.35M	3K	145K	728K
Net Interest Expenses	-17.34M	-19.88M	-19.95M	-23.7M	-34.26M
Currency Exchange Gains (Loss)	-2.95M	-3.72M	31.63M	-35.26M	17.78M
Other Non Operating Income (Expenses)	-2.14M	-1.63M	342K	-3.33M	-7.91M
EBT, Excl. Unusual Items	22.4M	-35.42M	-31.41M	-147M	-53M
Gain (Loss) On Sale Of Assets	25.8M	18.38M	7.38M	21.94M	20.42M
Asset Writedown	-1.12M	-3.79M	-	-	-
Other Unusual Items	-19.6M	-	-	-24.69M	-
EBT, Incl. Unusual Items	27.48M	-20.82M	-24.03M	-150M	-32.57M
Income Tax Expense	8.6M	2.42M	68.19M	-34.11M	-3.9M
Earnings From Continuing Operations	18.88M	-23.23M	-92.22M	-116M	-28.68M
Net Income to Company	18.88M	-23.23M	-92.22M	-116M	-28.68M
Net Income - (IS)	18.88M	-23.23M	-92.22M	-116M	-28.68M
Net Income to Common Incl Extra Items	18.88M	-23.23M	-92.22M	-116M	-28.68M
Net Income to Common Excl. Extra Items	18.88M	-23.23M	-92.22M	-116M	-28.68M
Per Share Items
Net EPS - Basic	0.11	-0.14	-0.57	-0.71	-0.18
Basic EPS - Continuing Operations	0.11	-0.14	-0.57	-0.71	-0.18
Basic Weighted Average Shares Outstanding	165M	164M	163M	163M	163M
Net EPS - Diluted	0.11	-0.14	-0.57	-0.71	-0.18
Diluted EPS - Continuing Operations	0.11	-0.14	-0.57	-0.71	-0.18
Diluted Weighted Average Shares Outstanding	165M	164M	163M	163M	163M
Normalized Basic EPS	0.09	-0.13	-0.12	-0.56	-0.2
Normalized Diluted EPS	0.09	-0.13	-0.12	-0.56	-0.2
Dividend Per Share	0.14	0.15	0.13	0.15	-
Payout Ratio	123.54	-99.98	-11.62	-29.05	-
Supplemental Items
EBITDA	186M	130M	94.23M	79.45M	156M
EBITA	174M	117M	80.96M	66.88M	144M
EBIT	44.83M	-10.19M	-43.43M	-84.58M	-28.62M
EBITDAR	188M	130M	94.74M	80.07M	157M
Effective Tax Rate - (Ratio)	31.28	-11.6	-283.8	22.8	11.96
Total Current Taxes	483K	989K	4.17M	-4.68M	905K
Deferred Domestic Taxes	5.44M	951K	2.26M	-29.43M	-4.8M
Deferred Foreign Taxes	2.68M	475K	61.76M	-	-
Total Deferred Taxes	8.11M	1.43M	64.02M	-29.43M	-4.8M
Normalized Net Income	14M	-22.13M	-19.63M	-91.79M	-33.12M
Interest on Long-Term Debt	19M	20.2M	18M	20.78M	31.62M
Non-Cash Pension Expense	-	-	-	-	-
Supplemental Operating Expense Items
General and Administrative Expenses	722K	1.12M	830K	727K	18.96M
Net Rental Expense, Total	1.97M	590K	514K	621K	379K
Imputed Operating Lease Interest Expense	631K	190K	152K	201K	168K
Imputed Operating Lease Depreciation	1.34M	400K	362K	420K	211K
Stock-Based Comp., COGS (Total)	1.25M	818K	2.7M	1.03M	3.39M
Total Stock-Based Compensation	1.25M	818K	2.7M	1.03M	3.39M

Fiscal Period: June	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	308M	51.54M	111M	121M	76.02M
Trading Asset Securities, Total	-	-	-	-	4.17M
Total Cash And Short Term Investments	308M	51.54M	111M	121M	80.19M
Accounts Receivable, Total	63.38M	162M	90.91M	85.45M	74.5M
Other Receivables	1.83M	1.45M	1.57M	6.16M	15.24M
Total Receivables	65.21M	163M	92.48M	91.61M	89.74M
Inventory	2.13M	2.19M	2.08M	2.2M	3.16M
Prepaid Expenses	13.03M	6.5M	7.41M	15.53M	16.49M
Other Current Assets, Total	312K	1.17M	318K	6.6M	4.14M
Total Current Assets	388M	225M	213M	237M	194M
Gross Property Plant And Equipment	369M	395M	395M	400M	419M
Accumulated Depreciation	-123M	-136M	-144M	-154M	-157M
Net Property Plant And Equipment	246M	259M	251M	247M	262M
Long-term Investments	-	-	-	2.46M	-
Goodwill	421M	421M	421M	421M	421M
Other Intangibles, Total	8.64M	6.84M	5.03M	5.61M	6.04M
Accounts Receivable Long-Term	9.89M	43.69M	20.4M	29.76M	22.3M
Deferred Tax Assets Long-Term	58.42M	58.36M	-	-	-
Deferred Charges Long-Term	339M	347M	328M	316M	385M
Other Long-Term Assets, Total	25.01M	22.44M	21.05M	34.28M	27.48M
Total Assets	1.5B	1.38B	1.26B	1.29B	1.32B
Liabilities
Accounts Payable, Total	119M	106M	76.62M	91.56M	142M
Accrued Expenses, Total	108M	103M	94.48M	111M	82.87M
Short-term Borrowings	-	-	60M	100M	100M
Current Portion of Long-Term Debt	5.45M	5.6M	5.19M	5.76M	5.96M
Current Portion of Leases	-	1.07M	1.26M	1.56M	1.04M
Current Income Taxes Payable	2.86M	4M	6.04M	-	-
Unearned Revenue Current, Total	190M	172M	118M	166M	170M
Other Current Liabilities	2.94M	7.27M	22.46M	19.03M	25.32M
Total Current Liabilities	429M	398M	384M	495M	527M
Long-Term Debt	508M	529M	470M	530M	507M
Long-Term Leases	-	3.33M	3.08M	2.87M	7.84M
Unearned Revenue Non Current	33.35M	18.76M	22.94M	16.7M	6.66M
Deferred Tax Liability Non Current	31.86M	31.34M	35.55M	7.4M	3.3M
Other Non Current Liabilities	79.18M	51.32M	72.02M	114M	162M
Total Liabilities	1.08B	1.03B	988M	1.17B	1.21B
Common Stock, Total	53K	53K	53K	53K	53K
Additional Paid In Capital	68.82M	68.82M	68.82M	68.82M	68.82M
Retained Earnings	133M	87.2M	-13.65M	-170M	-197M
Treasury Stock	-	-21.3M	-21.3M	-21.3M	-21.3M
Comprehensive Income and Other	213M	216M	239M	250M	253M
Total Common Equity	415M	351M	273M	128M	104M
Total Equity	415M	351M	273M	128M	104M
Total Liabilities And Equity	1.5B	1.38B	1.26B	1.29B	1.32B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	165M	163M	163M	163M	163M
ECS Total Common Shares Outstanding	165M	163M	163M	163M	163M
Book Value / Share	2.52	2.16	1.67	0.78	0.64
Tangible Book Value	-14.89M	-77.07M	-154M	-300M	-324M
Tangible Book Value Per Share	-0.09	-0.47	-0.94	-1.84	-1.98
Total Debt	514M	539M	540M	641M	622M
Net Debt	206M	488M	429M	519M	542M
Debt Equivalent Oper. Leases	15.79M	4.72M	4.11M	4.97M	3.03M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Finished Goods, Total	2.13M	2.19M	2.08M	2.2M	3.16M
Machinery, Total	99.65M	118M	112M	115M	123M
Full Time Employees	940	992	983	1.04K	1.11K

Fiscal Period: June	2019	2020	2021	2022	2023
Net Income	18.88M	-23.23M	-92.22M	-116M	-28.68M
Depreciation & Amortization - CF	11.73M	14.76M	14.96M	14.31M	13.85M
Amortization of Goodwill and Intangible Assets - (CF)	129M	127M	124M	151M	173M
Depreciation & Amortization, Total	141M	142M	139M	166M	187M
Amortization of Deferred Charges, Total - (CF)	647K	579K	626K	713K	745K
(Gain) Loss From Sale Of Asset	-25.8M	-18.38M	-7.38M	-21.94M	-20.42M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	1.12M	3.79M	-	-	-
Stock-Based Compensation (CF)	699K	818K	2.08M	198K	1.75M
Other Operating Activities, Total	17.81M	17.85M	33.08M	1.46M	-13.08M
Change In Accounts Receivable	80.57M	-89.63M	77.12M	3.78M	17.34M
Change In Inventories	-714K	-56K	106K	-120K	-965K
Change In Accounts Payable	8.03M	-11.37M	5.42M	22.48M	-31.14M
Change in Unearned Revenues	5.9M	-33.17M	-49.41M	41.62M	-6.26M
Change in Other Net Operating Assets	-3.25M	7.48M	4.3M	-2.09M	-10.06M
Cash from Operations	245M	-3.82M	113M	96.37M	95.77M
Capital Expenditure	-13.74M	-21.29M	-6.24M	-8.32M	-15.61M
Sale of Property, Plant, and Equipment	-	-	-	-	-
Sale (Purchase) of Real Estate properties	-12.42M	-	-	-	-
Sale (Purchase) of Intangible assets	-135M	-192M	-92.19M	-85.11M	-125M
Other Investing Activities, Total	-	-	-939K	-	-
Cash from Investing	-161M	-213M	-99.37M	-93.43M	-140M
Long-Term Debt Issued, Total	-	-	60M	40M	100M
Total Debt Issued	-	-	60M	40M	100M
Long-Term Debt Repaid, Total	-3.75M	-1.86M	-1.64M	-1.41M	-102M
Total Debt Repaid	-3.75M	-1.86M	-1.64M	-1.41M	-102M
Repurchase of Common Stock	-	-21.3M	-	-	-
Common Dividends Paid	-23.33M	-23.23M	-10.72M	-33.55M	-
Common & Preferred Stock Dividends Paid	-23.33M	-23.23M	-10.72M	-33.55M	-
Cash from Financing	-27.08M	-46.4M	47.64M	5.04M	-1.95M
Foreign Exchange Rate Adjustments	9.25M	6.97M	-2.23M	2.58M	1.14M
Net Change in Cash	65.62M	-256M	59.12M	10.56M	-45.2M
Supplemental Items
Cash Interest Paid	18.99M	19.9M	20.54M	20.64M	31.95M
Cash Income Tax Paid (Refund)	2.7M	2.18M	4.16M	4.84M	1.63M
Levered Free Cash Flow	71.04M	-214M	1.53M	62.61M	45.5M
Unlevered Free Cash Flow	82.99M	-201M	13.37M	76.79M	66.62M
Change In Net Working Capital	-61.76M	124M	3.1M	-56.28M	-34.75M
Net Debt Issued / Repaid	-3.75M	-1.86M	58.36M	38.59M	-1.95M

Fiscal Period: June	2019	2020	2021	2022	2023
Profitability
Return on Assets	1.84	-0.44	-2.05	-4.14	-1.37
Return on Total Capital	3.03	-0.7	-3.19	-6.69	-2.39
Return On Equity %	4.48	-6.06	-29.57	-57.75	-24.78
Return on Common Equity	4.48	-6.06	-29.57	-57.75	-24.78
Margin Analysis
Gross Profit Margin %	89.5	88.38	92.1	88.12	84.39
SG&A Margin	53.23	55.97	65.01	65.92	56.01
EBITDA Margin %	29.61	25.47	19.07	13.62	24.09
EBITA Margin %	27.74	22.9	16.39	11.47	22.22
EBIT Margin %	7.15	-2	-8.79	-14.5	-4.41
Income From Continuing Operations Margin %	3.01	-4.56	-18.66	-19.81	-4.42
Net Income Margin %	3.01	-4.56	-18.66	-19.81	-4.42
Net Avail. For Common Margin %	3.01	-4.56	-18.66	-19.81	-4.42
Normalized Net Income Margin	2.23	-4.35	-3.97	-15.74	-5.11
Levered Free Cash Flow Margin	11.33	-42.02	0.31	10.73	7.02
Unlevered Free Cash Flow Margin	13.23	-39.52	2.71	13.17	10.27
Asset Turnover
Asset Turnover	0.41	0.35	0.37	0.46	0.5
Fixed Assets Turnover	2.55	2.02	1.94	2.34	2.55
Receivables Turnover (Average Receivables)	5.69	4.52	3.91	6.61	8.11
Inventory Turnover (Average Inventory)	37.15	27.4	18.3	32.37	37.74
Short Term Liquidity
Current Ratio	0.91	0.56	0.55	0.48	0.37
Quick Ratio	0.87	0.54	0.53	0.43	0.32
Operating Cash Flow to Current Liabilities	0.57	-0.01	0.29	0.19	0.18
Days Sales Outstanding (Average Receivables)	64.16	81.01	93.39	55.19	45.02
Days Outstanding Inventory (Average Inventory)	9.82	13.36	19.94	11.28	9.67
Average Days Payable Outstanding	776.91	695.97	855.69	442.33	417.21
Cash Conversion Cycle (Average Days)	-702.92	-601.6	-742.35	-375.86	-362.52
Long Term Solvency
Total Debt/Equity	123.68	153.5	198.05	502.36	598.53
Total Debt / Total Capital	55.29	60.55	66.45	83.4	85.68
LT Debt/Equity	122.37	151.6	173.66	418.2	495.6
Long-Term Debt / Total Capital	54.71	59.8	58.27	69.43	70.95
Total Liabilities / Total Assets	72.26	74.61	78.38	90.14	92.11
EBIT / Interest Expense	2.22	-0.48	-2.18	-3.55	-0.82