NYSE$MANU

Manchester United · Q4 2025 earnings

Q4 2025 earnings · · Before market open · Investor relations

Briefing

Manchester United reported Q4 2025, revenue of $666.5M, net loss of $33M, diluted EPS of $-0.19.

For Q4 2025, Manchester United reported revenue of $666.5M, a net loss of $33M, diluted EPS was $-0.19. Management discusses segment performance, capital allocation, and sector risks in the quarterly filing.

  • Revenue $666.5M.
  • Net loss $33M.
  • Diluted EPS $-0.19.

Headline financials

Total Revenue

£667M

Previous: £179M+271.5%
EPS (adj)

-£0.19

Previous: -£0.27+29.8%
Adjusted EBITDA

£37.5M

No prior period
Employee benefit expenses

£79.3M

No prior period
Net finance costs

£14.2M

No prior period
Exceptional items

£10.8M

No prior period
Capital Expenditures

-£87.2M

Previous: -£7.44M-1072.6%
Net Income

-£33M

Previous: -£45.8M+27.9%
Operating Income

-£20.8M

Previous: -£49.4M+57.8%
Gross Profit

-£33.8M

Previous: -£49.4M+31.6%

Revenue & EPS history

Manchester United · Revenue · Quarterly

£667M

Q4 2025+271.5%vs Q4 2024
Beat estimate in 4 of 9 quarters(44%)
ActualEstimate

Revenue by segment

Manchester United · £190M total across 3 segments · Q3 2026

  • Commercial
    £82.4M+10.3%
  • Broadcasting
    £64.9M+57.1%
  • Matchday
    £42.2M-5.2%

Forward guidance

Manchester United outlook reflects Premier League performance, broadcasting pools, and commercial renewals.

Tailwinds

  • Commercial and sponsorship renewals support revenue.
  • Matchday and retail benefit from on-pitch success.

Headwinds

  • Absence from European competitions reduces broadcasting revenue.
  • Player investment and wage inflation pressure profits.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 6 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

+1.3%

Avg return

Earnings day

+3.5%

Avg return

5 days after

+4.2%

Avg return

30 days after

54%

7 / 13 earnings

Positive

+18.8%

Q3 2025

Best reaction

-6.4%

Q4 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q3 2026+11.9%+10.7%
Q2 2026-2.1%-0.1%-7.8%
Q4 2025-6.4%-7.6%+9.2%
Q3 2025+18.8%+22.3%+26.7%
Q1 2025-3.0%+0.0%-3.2%
Q4 2024+1.1%+0.6%+4.6%
Q2 2024-1.2%-1.4%-4.4%
Q4 2014+1.4%
Q3 2014-4.3%
Q1 2014+2.9%
Q4 2013+0.3%
Q4 2012+1.1%
Q1 2013-3.8%
Q2 2011
Q1 2011
Q4 2011

Discussion

Share your read of this quarter. Sign-in carries your eToro identity.

Join the conversation

Sign in with eToro to post your read of this quarter and vote on others'.

Sign in with eToro