Forensic Analysis · General / Diversified · as of Jun 27, 2026
Manchester United plc (MANU)
A forensic read on Manchester United plc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
F · Poor — capital at risk
Forensic grade
Clean
Earnings quality
4
Forensic signals
-9.7%
ROE
$4.0B
Market cap
0.94%
Dividend yield
Manchester United plc earns a F (Poor — capital at risk) forensic quality grade. 4 forensic signals were flagged in its latest SEC filings, led by accruals ratio.
What the filings flag
+40.6%Accruals ratio. Net operating assets grew +40.6% relative to their average in FY2025 — the accrual component of earnings. Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The cash-flow cross-check agrees: reported earnings ran behind operating cash by -118% of net operating assets.
104d DSOReceivables vs revenue. Days sales outstanding moved from 65 to 104 days FY2017→FY2018 (receivables +62% vs revenue +2%). Receivables are outrunning sales — a flag for aggressive revenue recognition or slipping collections.
-14%Return on invested capital. Return on invested capital is -14% and rising from -1098% — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
-54%Dividend — cut. The payout was CUT ~54% in FY2021 (from FY2020). It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies — weigh the cut when judging reliability.
Key fundamentals
Net Margin-6.4%
Latest Revenue$779.9M
Return on Equity-17.0%
Revenue Growth YoY+1.5%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on Manchester United plc:
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🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown
🔒Peer comparison + filing-change monitoring & alerts
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Data from SEC EDGAR public filings · metrics as of Jun 27, 2026. Forensic signals flag probability, not certainty.