Manchester United (MANU) Operating Expenses (2011 - 2026)
Manchester United (MANU) posted quarterly Operating Expenses of -$241.6 million for Q1 2026, down 18.31% year-over-year from -$295.7 million in Q1 2025, and down 4.42% quarter-over-quarter from -$231.4 million in Q4 2025.
Manchester United (MANU) Operating Expenses (2011 - 2026) Analysis & Trends
Manchester United (MANU) has reported Operating Expenses for 16 consecutive years, with -$241.6 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses fell 18.31% year-over-year to -$241.6 million; the TTM figure through Mar 2026 stood at -$958.3 million (down 3.44% YoY), while the FY2025 annual figure was $949.4 million, down 1.93% from the prior year.
- Operating Expenses retreated to -$241.6 million in Q1 2026 per MANU's latest filing, from -$231.4 million in the prior quarter.
- Across five years, Operating Expenses topped out at -$192.9 million in Q3 2022 and bottomed at -$258.4 million in Q1 2024.
- Historically, Operating Expenses has averaged -$230.1 million across 5 years, with a median of -$232.6 million in 2025.
- Annual changes were most pronounced in 2023 — Operating Expenses slipped 25.4% — and 2025, when it advanced 20.99%.
- Manchester United's Operating Expenses stood at -$196.6 million in 2022, then retreated by 25.4% to -$246.6 million in 2023, then dropped by 2.28% to -$252.2 million in 2024, then climbed by 8.26% to -$231.4 million in 2025, then retreated by 4.42% to -$241.6 million in 2026.
- Business Quant data shows MANU's Operating Expenses at -$241.6 million in Q1 2026, -$231.4 million in Q4 2025, and -$232.6 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Netflix | 325.80 Bn | 316.67 Bn | 6.52 Bn | 1.32 Bn |
| 2 | Walt Disney | 180.88 Bn | 175.70 Bn | 11.57 Bn | 20.49 Bn |
| 3 | Warner Bros. Discovery | 71.60 Bn | 68.23 Bn | 4.10 Bn | 8.48 Bn |
| 4 | Live Nation Entertainment | 41.97 Bn | 32.90 Bn | 1.94 Bn | 1.24 Bn |
| 5 | Fox | 26.42 Bn | 22.22 Bn | - | 2.38 Bn |
| 6 | Liberty Media | 23.42 Bn | 21.96 Bn | 329.00 Mn | 846.00 Mn |
| 7 | Roku | 23.35 Bn | 20.80 Bn | 673.70 Mn | 527.52 Mn |
| 8 | News | 18.65 Bn | 16.55 Bn | - | 991.00 Mn |
| 9 | TKO Group Holdings | 14.38 Bn | 12.83 Bn | 990.96 Mn | 1.12 Bn |
| 10 | Manchester United | 4.06 Mn | -78.09 Mn | - | -241.58 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -241.58 Mn |
| Dec 31, 2025 | -231.36 Mn |
| Sep 30, 2025 | -232.61 Mn |
| Jun 30, 2025 | -252.77 Mn |
| Mar 31, 2025 | -204.20 Mn |
| Dec 31, 2024 | -252.20 Mn |
| Sep 30, 2024 | -241.13 Mn |
| Jun 30, 2024 | -228.94 Mn |
| Mar 31, 2024 | -258.44 Mn |
| Dec 31, 2023 | -246.57 Mn |
| Sep 30, 2023 | -234.04 Mn |
| Jun 30, 2023 | -216.68 Mn |
| Mar 31, 2023 | -214.75 Mn |
| Dec 31, 2022 | -196.63 Mn |
| Sep 30, 2022 | -192.86 Mn |
| Jun 30, 2022 | -230.87 Mn |
| Mar 31, 2022 | -235.32 Mn |
| Dec 31, 2021 | -242.26 Mn |
| Sep 30, 2021 | -212.44 Mn |
| Jun 30, 2021 | -192.67 Mn |