Manchester United (MANU) Q4 2026 earnings summary

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.