What is Manchester United's free cash flow?

Manchester United had negative free cash flow of GBP 199.47M in fiscal 2026 (fiscal year ended Jun 30, 2026), operating cash flow of GBP 178.72M minus GBP 378.19M of capital expenditures.

How much does Manchester United spend on capital expenditures?

Manchester United spent GBP 378.19M on capital expenditures in fiscal 2026, compared with GBP 44.72M a year earlier. That equals 211.6% of operating cash flow.

Does Manchester United pay dividends or buy back shares?

Manchester United's cash flow statement for fiscal 2026 shows no dividend payments or share repurchases.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment.

Manchester United (MANU) Cash Flow: Operating & Free Cash Flow

Manchester United Cash Flow Statement Analysis

Values in millions GBP

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Manchester United plc (MANU) - Annual data in millions GBP
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Jun 2026	Jun 2025	Jun 2024	Sep 2023	Jun 2023	Jun 2022	Jun 2021	Sep 2020	Jun 2019	Jun 2018	Jun 2017
Operating Activities
Net Income	-42.79	-39.66	-130.72	-28.68	-32.57	-115.51	-42.10	-20.82	27.48	25.83	56.59
Depreciation & Amortization	232.44	213.38	206.65	186.53	186.53	165.78	139.36	141.51	140.88	149.14	134.66
Deferred Income Tax	0.00	0.00	0.00	-71.45	-	-11.71	-62.70	-19.97	-34.44	-31.51	-30.08
Stock Based Compensation	0.24	0.66	0.88	3.39	1.75	0.20	2.09	1.44	0.70	2.92	2.19
Change in Working Capital	4.26	-41.64	14.67	-31.08	-31.08	65.67	37.53	-126.75	90.55	-73.03	41.75
Change in Accounts Receivable	30.10	-65.99	2.36	24.43	17.34	-0.52	71.70	-83.20	82.09	-64.49	5.09
Change in Inventory	0.83	-9.51	-0.38	-0.97	-0.97	-0.12	0.11	-0.06	-0.71	0.22	-0.71
Change in Accounts Payable	-26.40	29.00	0.00	-48.30	-31.14	22.48	10.33	-10.33	3.27	16.74	18.79
Change in Other Working Capital	55.21	-36.40	12.69	-6.25	42.59	26.06	-44.61	-33.17	5.90	-25.50	37.37
Other Operating Activities	55.21	-25.24	-5.80	37.06	42.59	26.06	38.91	20.77	19.62	21.90	-7.52
Net Cash from Operating Activities	178.72	72.70	85.67	95.77	95.77	96.37	113.08	-3.82	244.78	95.25	227.66
Investing Activities
Capital Expenditures	-378.19	-44.72	-208.23	-171.78	-171.78	-123.74	-144.43	-241.87	-191.91	-168.22	-202.20
Purchases of Investments	0.00	0.00	0.00	0.00	-	0.00	-0.94	0.00	0.00	0.00	0.00
Sales/Maturities of Investments	0.00	-229.95	0.00	0.00	-124.55	0.00	0.00	0.00	0.00	0.00	0.00
Other Investing Activities	148.04	-229.95	-153.69	31.62	-	30.31	46.00	29.02	30.57	46.95	-142.60
Net Cash from Investing Activities	-229.57	-274.68	-171.20	-140.16	-140.16	-93.43	-99.37	-212.85	-161.34	-121.27	-150.97
Financing Activities
Debt Repayment	-596.94	-100.00	-70.98	-1.95	-101.95	-1.41	58.36	-1.87	-3.75	-0.42	-0.40
Common Stock Issued	0.00	79.99	158.54	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00
Common Stock Repurchased	0.00	0.00	0.00	0.00	-	0.00	0.00	-21.31	0.00	0.00	0.00
Dividends Paid	0.00	0.00	0.00	0.00	-	-33.55	-10.72	-23.23	-23.33	-21.98	-23.30
Other Financing Activities	-7.16	-0.40	-1.34	0.00	-1.95	0.00	0.00	0.00	0.00	0.00	0.00
Net Cash from Financing Activities	35.31	209.58	86.23	-1.95	-1.95	5.04	47.64	-46.40	-27.08	-22.40	-23.69
Summary
Effect of Forex Changes on Cash	-3.31	4.95	-3.17	1.14	1.14	2.59	-2.23	6.97	9.25	0.18	8.07
Net Change in Cash	-18.86	12.56	-2.47	-45.20	-45.20	10.57	59.12	-256.10	65.62	-48.25	61.07
Cash at Beginning of Period	86.11	73.55	76.02	121.22	121.22	110.66	51.54	307.64	242.02	290.27	229.19
Cash at End of Period	67.25	86.11	73.55	76.02	76.02	121.22	110.66	51.54	307.64	242.02	290.27
Free Cash Flow	-199.47	27.98	-122.56	-76.01	-76.01	-27.37	-31.35	-245.69	52.87	-72.97	25.46
Supplemental Disclosures
Interest Paid	-	37.20	37.23	-	31.95	20.64	20.54	-	-	-	-
Income Taxes Paid	-	0.95	-3.75	-	1.63	4.84	4.16	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Manchester United (MANU) Cash Flow Statement

Manchester United Cash Flow Statement Analysis

Frequently Asked Questions About Manchester United Cash Flow