Stock fact sheet · data as of
Manchester United plc (MANU): fair value, margin of safety and Wheel Score
Ticker symbol MANU · Communication Services · Entertainment · United Kingdom · Class A ordinary shares · Speculative
MANU is Manchester United plc's Class A ordinary shares. The classes own the same business, share the same earnings report and trade within a few cents of each other; what differs is mainly the vote each share carries - the company's annual report sets out the voting rights.
Is MANU undervalued?
At 22.86 (close of 5 Nov 2026), MANU has no GLS fair value: every one of the nine models needs a positive input (the company lost money over the last twelve months, EPS -0.34, it pays no dividend and its debts exceed what its assets would fetch), so the margin of safety is blank and the Wheel Score cannot be computed. Our scans leave the stock out at the first filter. What can be said from the nightly row is below.
The nightly engine files MANU under Speculative - it is losing money or its Piotroski health score is 3 or lower - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan.
Nine valuation models for MANU
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | - | - | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields; no value tonight |
| Lynch | - | - | EPS × the earnings growth rate (PEG of 1), growth capped at 25%; no value tonight |
| GLS Growth | - | - | EPS compounded ten years at the blended growth rate, discounted back at 15% a year; no value tonight |
| 10 Cap | - | - | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10%; no value tonight |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | - | - | Earnings power value: current EPS capitalised at 9% with no growth; no value tonight |
| Zombie (liquidation) | -9.20 | -140% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 17.95 | -21% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Manchester United plc scores only 3 of 9 on the Piotroski F-score, which fails the "Piotroski 6 or more" Wheel Trade Filter. A reading this low means several of the basic tests - positive earnings, positive operating cash flow, falling debt, no new share issuance - are not met. A GLS Moat score of 2.1/10 is a weak reading: the accounts do not show returns and margins that competitors have been unable to wear down, so the Moat part of the Wheel Score contributes little.
Returns on capital are thin or negative - ROIC -5.1%, ROE -28.6%, ROA -2.8% - with debt at 4.60 times equity and negative free cash flow. Debt of 4.60 times equity is on the high side for the sector and is worth checking against the cash flow before treating the stock as a long-term hold.
Manchester United plc pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from Commercial 38%, Broadcasting 25%, Sponsorship 19% (fiscal year FY2026).
Institutional ownership scores 2/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 3 / 9 | ROIC | -5.1% |
|---|---|---|---|
| GLS Moat | 2.1 / 10 | ROE | -28.6% |
| Debt / equity | 4.60 | ROA | -2.8% |
| Free-cash-flow yield | -5.6% | Payout ratio | 0% |
| Institutions | 2 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 30: Weak
With a Wheel Score of 30 Manchester United plc sits in the Weak band. It fails filter 2, a real business, not a gamble - speculative (a loss, or a weak Piotroski score); and filter 3, below fair value - trades right at our fair value; and filter 4, financially healthy - Piotroski 3/9 (under 6); and filter 5, can repay its debt - 3.2 years to repay its debt (over 3); Value (weak) is its weakest part.
Implied volatility is 46% on the near-the-money contracts 20-60 days out - inside the 35-60% sweet spot the Wheel Score rewards most: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 19,285 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 341k shares a day on a market cap of $3.9B, with a beta of 0.58 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Fails | speculative (a loss, or a weak Piotroski score) |
| 3 | Below fair value | Fails | trades right at our fair value |
| 4 | Financially healthy | Fails | Piotroski 3/9 (under 6) |
| 5 | Can repay its debt | Fails | 3.2 years to repay its debt (over 3) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 0% below fair value | |
| Premium | Strong | implied volatility 46% | |
| Moat | Weak | moat 2.1/10 | |
| Health | Weak | Piotroski 3/9 | |
| Red Flags | Weak | Red Flags score 65/100 | |
| Option trading | Fair | 2,455 contracts a day, 19,285 open interest | |
| Stability | Fair | beta 0.58, $3.9B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 10 Dec 2026 (before the open), 35 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Entertainment
The 12 companies below are the closest to Manchester United plc by market cap within the Entertainment industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| SPHR Sphere Entertainment Co. | 108.85 | 144.60 | +25% | 43Weak | $3.9B |
| MSGE Madison Square Garden Entertainment Corp. | 78.73 | 94.83 | +17% | 42Weak | $3.7B |
| BATRA Atlanta Braves Holdings, Inc. | 55.84 | - | - | 16Weak | $3.6B |
| CNK Cinemark Holdings, Inc. | 40.38 | 71.69 | +44% | 51Fair | $4.7B |
| VSNT Versant Media Group, Inc. Class A | 33.98 | 147.60 | +77% | 80Good | $4.7B |
| BATRK Atlanta Braves Holdings, Inc. | 50.73 | - | - | 29Weak | $3.3B |
| AMC AMC Entertainment Holdings, Inc. | 3.52 | 17.09 | +79% | 41Weak | $3.1B |
| BATRB Atlanta Braves Holdings, Inc. | 72.00 | - | - | 12No options | $3.1B |
| IMAX IMAX Corporation | 51.76 | 33.97 | -52% | 40Weak | $2.8B |
| SKYD Skydance Corporation | 8.39 | 2.94 | -185% | 32Weak | $9.2B |
| LLYVK Liberty Live Group | 110.35 | 19.12 | -477% | 27Weak | $10.2B |
| LLYVA Liberty Live Group | 106.37 | 19.11 | -457% | 23Weak | $10.2B |
⚖ Compare MANU with 7 of them All Communication Services stocks →
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Start free See the Sunday ScanQuestions about MANU
What kind of share is MANU?
MANU is Manchester United plc's Class A ordinary shares. The classes own the same business, share the same earnings report and trade within a few cents of each other; what differs is mainly the vote each share carries - the company's annual report sets out the voting rights.
Is MANU undervalued right now?
The GLS models could not value MANU (the company lost money over the last twelve months, EPS -0.34, it pays no dividend and its debts exceed what its assets would fetch), so there is no fair value or margin of safety to compare the price of 22.86 against.
What is the Wheel Score of MANU and what does it mean?
MANU scores 30 out of 100 (Weak) - it fails Wheel Trade Filters 2, 3, 4, 5. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for MANU?
None of the nine GLS models produced a positive value for MANU (the company lost money over the last twelve months, EPS -0.34, it pays no dividend and its debts exceed what its assets would fetch), so there is no GLS fair value tonight.
When does Manchester United plc report earnings next?
The next earnings report is due on 10 Dec 2026 (before the open), 35 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does MANU have listed options, and how liquid are they?
Yes. The nightly snapshot found 102 listed contracts with 19,285 open interest across all expiries and implied volatility of 46% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.