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Manchester United (MANU) investor relations material
Manchester United Q4 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record full year revenue of £677.6 million, up 1.7% year-over-year, despite no UEFA competition participation.
Operating profit for the year reached £22.6 million, reversing a prior year loss of £18.4 million, driven by cost and headcount reductions and improved Premier League performance.
Adjusted EBITDA hit a record £216.4 million, up 18.4% from fiscal 2025.
Net loss for the year was £43.0 million, compared to £33.0 million in the prior year.
Men's team finished 3rd in the Premier League, returning to the UEFA Champions League for 2026/27.
Financial highlights
Full year revenue: £677.6 million (+1.7% YoY); Q4 revenue: £157.5 million (-4.0% YoY).
Adjusted EBITDA: £216.4 million (+18.4% YoY); Q4 adjusted EBITDA: £28.9 million (-22.9% YoY).
Operating profit: £22.6 million (vs. £18.4 million loss prior year).
Net loss: £43.0 million (vs. £33.0 million loss prior year).
Commercial revenue fell 4.8% YoY; broadcasting revenue rose 19.6% YoY; matchday revenue fell 4.2% YoY.
Outlook and guidance
Fiscal 2027 revenue guidance: £740–£760 million; adjusted EBITDA guidance: £205–£225 million.
Guidance reflects return to UEFA Champions League and higher player/staff costs.
Club remains compliant with Premier League and UEFA financial regulations.
- Operating profit and adjusted EBITDA surged, with upgraded revenue guidance for fiscal 2026.MANU
Q3 2026 - Profitability rebounded on cost cuts, with guidance maintained despite lower revenue.MANU
Q2 2026 - Shelf registration enables up to $400M in flexible securities offerings leveraging a global sports brand.MANU
Registration Filing - Profitability improved on lower costs despite a 2% revenue dip; guidance reaffirmed.MANU
Q1 2026 - Record revenue and improved profitability driven by commercial growth and cost reductions.MANU
Q4 2025 - Net profit rebounded to £1.3m in Q1 FY2025 despite lower revenue and match volume.MANU
Q1 2025 - Record revenue and restructuring mark a transformative year, but losses widened.MANU
Q4 2024 - Q3 net loss widened to £71.5m, but full-year revenue is forecast at a record £660m.MANU
Q3 2024 - Revenue up 17.4% and operating profit returned as transformation and investment accelerate.MANU
Q3 2025
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