Manchester United Ltd (MUF) — Working Capital to Net Assets Ratio
Manchester United Ltd (MUF) has a Working Capital to Net Assets ratio of -285.9% as of December 2025. Working capital of €-545.24 Million (current assets of €258.89 Million minus current liabilities of €804.13 Million) is measured against net assets of €190.74 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See MUF equity financing ratio to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Manchester United Ltd Working Capital to Net Assets (2014–2025)
This chart shows how Manchester United Ltd's Working Capital to Net Assets ratio has evolved across 12 annual periods from 2014 to 2025. As of December 2025, the ratio stands at -285.9%, reflecting working capital of €-545.24 Million against net assets of €190.74 Million EUR. Check MUF tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Manchester United Ltd (2014–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Manchester United Ltd from 2014 to 2025, covering 12 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see MUF stock market capitalisation.
| Year | WC/NA Ratio | Working Capital (EUR) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -240.7% | €-466.36 Million | €193.73 Million | €284.02 Million | €750.37 Million | ▼ -21.4 pp |
| 2024 | -219.3% | €-317.71 Million | €144.89 Million | €177.28 Million | €494.99 Million | ▲ +101.2 pp |
| 2023 | -320.5% | €-333.14 Million | €103.95 Million | €193.73 Million | €526.87 Million | ▼ -118.4 pp |
| 2022 | -202.1% | €-257.68 Million | €127.51 Million | €237.16 Million | €494.84 Million | ▼ -139.3 pp |
| 2021 | -62.8% | €-171.09 Million | €272.51 Million | €212.94 Million | €384.03 Million | ▼ -13.4 pp |
| 2020 | -49.4% | €-173.54 Million | €351.23 Million | €224.81 Million | €398.34 Million | ▼ -39.6 pp |
| 2019 | -9.8% | €-40.52 Million | €415.20 Million | €388.32 Million | €428.84 Million | ▲ +1.5 pp |
| 2018 | -11.3% | €-48.00 Million | €425.27 Million | €413.46 Million | €461.46 Million | ▼ -8.8 pp |
| 2017 | -2.4% | €-11.65 Million | €477.62 Million | €398.85 Million | €410.51 Million | ▲ +5.7 pp |
| 2016 | -8.1% | €-37.08 Million | €458.28 Million | €366.67 Million | €403.74 Million | ▲ +9.5 pp |
| 2015 | -17.6% | €-83.92 Million | €477.92 Million | €239.53 Million | €323.45 Million | ▲ +4.5 pp |
| 2014 | -22.1% | €-110.24 Million | €498.65 Million | €191.48 Million | €301.72 Million | — |