Editing Manchester United plc
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# '''Trading Comps''': There aren't many direct public comparables to Manchester United. However, we managed to apply the multiples from the closest comps that we could find and got a decent result. Results from the trading comps estimated the Enterprise value at $3.5B. | # '''Trading Comps''': There aren't many direct public comparables to Manchester United. However, we managed to apply the multiples from the closest comps that we could find and got a decent result. Results from the trading comps estimated the Enterprise value at $3.5B. | ||
# '''Dividend Discount Model''': While MANU has managed to pay dividends consistently between 2017 and 2021, dividends are flat at $0.09/share, hence, it can not be used to arrive at a near accurate valuation for the stock. In addition, dividends have not been consistent in 2022 which makes it even harder to estimate the stock value using the DDM. | # '''Dividend Discount Model''': While MANU has managed to pay dividends consistently between 2017 and 2021, dividends are flat at $0.09/share, hence, it can not be used to arrive at a near accurate valuation for the stock. In addition, dividends have not been consistent in 2022 which makes it even harder to estimate the stock value using the DDM. | ||
# '''Residual Income''': As with the Discounted Cashflow, we are unable to accurately forecast the net income of future years as MANU has often returned negative earnings in recent years. | |||
For the reasons mentioned above, we have identified quantitative factors to be considered in the valuation of Manchester United. We find the following factors to be crucial in the valuation of Manchester United and other related companies: | For the reasons mentioned above, we have identified quantitative factors to be considered in the valuation of Manchester United. We find the following factors to be crucial in the valuation of Manchester United and other related companies: |