MANUManchester United plc
Is it safe?
Nothing alarming, nothing pristine: heavy debt (B) and typical volatility.
Highly leveraged, watch solvency. A rule of thumb on leverage, not a credit rating.
Moderate price swings, typical volatility. Worst drawdown -58% · now 15% below its 52-week high.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can MANU take a bad year?
Manchester United plc carries $733M of net debt at 16.0× EBITDA: a heavy load to carry through a bad year.
Net debt · as at Q2 2026 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 16.0×
Net debt / EBITDA · 19.5× a year ago · the load is coming down
- Cash runway
- 0.5 years
Cash runway · burning $25M a quarter at the current rate
- Annualised volatility
- 36%
Annualised volatility · roughly twice as jumpy as the market
Details›
- Total debtQ2 2026
- $777M
- Cash and short-term investments
- $44M
- Net debt
- $733M
- EBITDA, trailing twelve months
- $46M
- Operating profit, trailing twelve months
- $29M
- Debt / equity
- 4.07×
- Total debt / EBITDA
- 17.0×
- Annualised volatilitytwo years of daily moves
- 36%
- Worst drawdown on file
- −58%
- Below its 52-week high
- 15%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.