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Burford Capital (BUR) Financials

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$4.56 -0.15 (-3.09%)
As of 02:42 PM Eastern
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Annual Income Statements for Burford Capital

Annual Income Statements for Burford Capital

This table shows Burford Capital's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 241 301 143 -29 31 611 146 63
Consolidated Net Income / (Loss)		 318 328 157 -6.94 97 718 230 72
Net Income / (Loss) Continuing Operations		 318 328 157 -6.94 97 718 230 72
Total Pre-Tax Income 		318 360 180 2.79 109 738 254 84
Total Operating Income		 318 396 209 69 195 816 391 232
Total Gross Profit		 393 496 311 205 303 959 503 370
Total Revenue		 437 534 328 217 319 1,087 546 413
Operating Revenue		 437 534 328 217 319 1,087 546 413
Total Cost of Revenue		 44 39 17 12 17 127 43 44
Operating Cost of Revenue		 44 39 17 12 17 127 43 44
Total Operating Expenses		 76 99 102 137 108 144 112 138
Selling, General & Admin Expense		 66 48 53 65 30 73 73 87
Other Operating Expenses / (Income)		 0.00 42 41 72 78 70 39 51
Total Other Income / (Expense), net		 0.35 -37 -28 -66 -86 -77 -137 -148
Interest Expense		 - 39 39 60 78 99 136 151
Other Income / (Expense), net		 -1.45 1.96 11 -5.50 -7.67 22 -1.42 2.94
Income Tax Expense		 - 32 24 9.73 12 20 24 12
Net Income / (Loss) Attributable to Noncontrolling Interest		 101 27 14 22 67 108 83 9.62
Basic Earnings per Share		 - $1.37 $0.65 ($0.13) $0.14 $2.79 $0.67 $0.29
Weighted Average Basic Shares Outstanding		 - 218.65M 218.92M 219.05M 218.76M 218.87M 219.23M 219.15M
Diluted Earnings per Share		 - $1.37 $0.65 ($0.13) $0.14 $2.74 $0.66 $0.28
Weighted Average Diluted Shares Outstanding		 - 219.11M 219.64M 219.05M 221.80M 223.01M 223.23M 224.58M
Weighted Average Basic & Diluted Shares Outstanding		 - 11.25M 219.05M 219.05M 218.58M 218.96M 219.42M 218.90M
Cash Dividends to Common per Share		 - - - - $12.50 $12.50 $12.50 $12.50

Quarterly Income Statements for Burford Capital

This table shows Burford Capital's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -30 54 136 -13 31 88 -19 -37 -1,632
Consolidated Net Income / (Loss)		 -17 75 158 14 37 105 -20 -50 -1,633
Net Income / (Loss) Continuing Operations		 -17 75 158 14 37 105 -20 -50 -1,633
Total Pre-Tax Income 		-19 87 169 16 44 110 -16 -54 -1,636
Total Operating Income		 14 122 202 53 78 142 25 -13 -1,570
Total Gross Profit		 43 147 231 83 112 178 62 17 -1,591
Total Revenue		 44 160 249 93 119 191 70 33 -1,720
Operating Revenue		 44 160 249 93 119 191 70 33 -1,721
Total Cost of Revenue		 1.64 13 19 10.00 6.88 13 7.47 16 -130
Operating Cost of Revenue		 1.64 13 19 10.00 6.88 13 7.47 16 -130
Total Operating Expenses		 29 25 28 30 34 36 38 30 -20
Selling, General & Admin Expense		 19 19 20 16 23 20 22 23 22
Other Operating Expenses / (Income)		 9.39 6.48 8.81 14 12 17 16 6.74 -42
Total Other Income / (Expense), net		 -33 -35 -33 -37 -33 -32 -41 -41 -50
Interest Expense		 33 34 34 34 34 34 42 42 50
Income Tax Expense		 -1.40 12 11 2.24 7.57 4.59 3.78 -4.09 -2.42
Net Income / (Loss) Attributable to Noncontrolling Interest		 12 22 22 27 5.98 17 -1.11 -12 -1.08
Basic Earnings per Share		 ($0.14) $0.25 $0.62 ($0.06) $0.14 $0.40 ($0.09) ($0.16) ($7.46)
Weighted Average Basic Shares Outstanding		 218.93M 219.16M 219.41M 219.23M 219.30M 218.67M 219.27M 219.15M 218.84M
Diluted Earnings per Share		 ($0.14) $0.24 $0.61 ($0.05) $0.14 $0.39 ($0.09) ($0.16) ($7.46)
Weighted Average Diluted Shares Outstanding		 218.93M 223.34M 223.56M 223.23M 223.10M 223.98M 219.27M 224.58M 218.84M
Weighted Average Basic & Diluted Shares Outstanding		 - - - 219.42M 218.66M 218.81M 218.89M 218.90M 219.07M
Cash Dividends to Common per Share		 - - - - $6.25 $6.25 $6.25 - $6.25

Annual Cash Flow Statements for Burford Capital

This table details how cash moves in and out of Burford Capital's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 131 -122 48 -141 -67 112 250 95
Net Cash From Operating Activities		 -233 -274 54 -585 -466 -275 217 -29
Net Cash From Continuing Operating Activities		 732 -274 54 -585 -466 -275 217 -29
Net Income / (Loss) Continuing Operations		 0.00 328 157 -6.94 97 718 230 72
Consolidated Net Income / (Loss)		 - 328 157 -6.94 97 718 230 72
Non-Cash Adjustments To Reconcile Net Income		 732 -756 -151 -619 -590 -1,438 -76 -331
Changes in Operating Assets and Liabilities, net		 - 142 37 38 27 445 63 230
Net Cash From Investing Activities		 -0.10 -3.40 -0.36 -0.29 -0.41 -3.21 -0.66 -8.80
Net Cash From Continuing Investing Activities		 -0.10 -3.40 -0.36 -0.29 -0.41 -3.21 -0.66 -8.80
Purchase of Property, Plant & Equipment		 -0.10 -3.40 -0.36 -0.29 -0.41 -3.21 -0.66 -0.28
Acquisitions		 - - - - - 0.00 0.00 -8.52
Net Cash From Financing Activities		 365 155 -5.26 445 399 390 34 132
Net Cash From Continuing Financing Activities		 180 155 -5.26 445 399 390 34 132
Repayment of Debt		 0.00 0.00 -4.96 -43 -88 -138 -56 -158
Repurchase of Common Equity		 - 0.00 0.00 0.00 -3.75 -3.76 -5.09 -15
Payment of Dividends		 - -28 0.00 -41 -28 -27 -190 -195
Issuance of Debt		 180 0.00 0.00 400 357 394 285 500
Other Financing Activities, net		 - 183 -0.29 129 161 165 0.00 0.00
Cash Interest Paid		 - 38 38 51 71 77 154 98
Cash Income Taxes Paid		 - 0.69 11 1.31 1.84 14 20 23

Quarterly Cash Flow Statements for Burford Capital

This table details how cash moves in and out of Burford Capital's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 262 -92 182 -103 16 -116 306 -111 136
Net Cash From Operating Activities		 53 -97 280 -19 155 -84 -20 -80 -137
Net Cash From Continuing Operating Activities		 53 -97 280 -19 155 -84 -20 -80 -137
Net Income / (Loss) Continuing Operations		 -17 75 158 14 37 105 -20 -50 -1,633
Consolidated Net Income / (Loss)		 -17 75 158 14 37 105 -20 -50 -1,633
Non-Cash Adjustments To Reconcile Net Income		 92 -200 40 -7.44 23 -242 -38 -75 2,517
Changes in Operating Assets and Liabilities, net		 -21 27 82 -25 95 52 38 44 -1,021
Net Cash From Investing Activities		 -0.04 -0.05 -0.05 -0.52 -0.02 -0.10 -8.32 -0.36 -2.90
Net Cash From Continuing Investing Activities		 -0.04 -0.05 -0.05 -0.52 -0.02 -0.10 -8.32 -0.36 -2.90
Purchase of Property, Plant & Equipment		 -0.04 -0.05 -0.05 -0.52 -0.02 -0.10 -0.06 -0.10 -0.04
Acquisitions		 - - - - 0.00 - - -0.26 -2.86
Net Cash From Financing Activities		 209 5.42 -98 -83 -139 -31 334 -31 276
Net Cash From Continuing Financing Activities		 209 5.42 -98 -83 -139 -31 334 -31 276
Repayment of Debt		 -6.28 -23 -11 -15 -6.68 - -133 -18 -227
Repurchase of Common Equity		 -4.38 -0.71 - - -15 - - - -3.65
Payment of Dividends		 -65 29 -86 -68 -117 -31 -33 -13 0.00
Issuance of Debt		 285 - - - 0.00 - 500 - 500
Other Financing Activities, net		 - - - - 0.00 - - - 7.08
Cash Interest Paid		 25 31 37 62 1.91 31 35 30 52
Cash Income Taxes Paid		 0.38 6.97 4.90 7.25 0.43 21 -0.02 2.08 0.89

Annual Balance Sheets for Burford Capital

This table presents Burford Capital's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 1/1/2019 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 2,549 3,039 3,268 3,742 4,288 5,837 6,175 6,641
Total Current Assets		 266 187 339 356 244 328 549 656
Cash & Equivalents		 266 187 322 180 108 221 470 566
Short-Term Investments		 - - 17 175 136 108 79 89
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 2,279 2,853 2,929 3,386 4,044 5,509 5,626 5,985
Goodwill		 134 134 134 134 134 134 134 134
Noncurrent Deferred & Refundable Income Taxes		 29 25 0.26 0.08 6.44 0.93 3.35 2.73
Other Noncurrent Operating Assets		 2,098 2,685 2,795 3,252 3,904 5,374 5,489 5,848
Total Liabilities & Shareholders' Equity		 2,549 1,538 3,268 3,742 4,288 5,837 6,175 6,641
Total Liabilities		 1,186 1,538 1,244 1,633 1,901 2,630 2,918 3,513
Total Current Liabilities		 0.00 0.00 9.56 14 17 739 759 919
Other Current Liabilities		 - - - - - 704 747 858
Other Current Nonoperating Liabilities		 - - 9.56 14 17 34 12 60
Total Noncurrent Liabilities		 1,179 1,538 1,235 1,620 1,884 1,891 2,159 2,595
Long-Term Debt		 648 665 668 1,023 1,252 1,535 1,764 2,128
Noncurrent Deferred & Payable Income Tax Liabilities		 4.10 9.66 28 39 51 51 36 47
Noncurrent Employee Benefit Liabilities		 - - - - 62 183 218 228
Other Noncurrent Operating Liabilities		 527 863 539 558 519 122 142 192
Commitments & Contingencies		 - - 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,363 0.00 2,023 2,108 2,387 3,208 3,257 3,128
Total Preferred & Common Equity		 1,363 0.00 1,763 1,696 1,743 2,291 2,419 2,448
Total Common Equity		 1,363 0.00 1,763 1,696 1,743 2,291 2,419 2,448
Common Stock		 610 0.00 621 625 625 639 652 672
Retained Earnings		 - - 1,136 1,068 1,074 1,649 1,766 1,801
Treasury Stock		 - - 0.00 0.00 -3.75 -4.48 -9.57 -25
Accumulated Other Comprehensive Income / (Loss)		 - - 5.14 2.92 47 7.31 10 -0.20
Noncontrolling Interest		 - - 260 412 644 917 837 680

Quarterly Balance Sheets for Burford Capital

This table presents Burford Capital's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 6,181 6,327 6,685 4,270
Total Current Assets		 570 457 757 755
Cash & Equivalents		 487 372 678 703
Short-Term Investments		 84 84 79 52
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 5,611 5,870 5,929 3,515
Goodwill		 134 134 134 134
Noncurrent Deferred & Refundable Income Taxes		 3.20 2.35 3.73 2.55
Other Noncurrent Operating Assets		 5,473 5,734 5,791 3,378
Total Liabilities & Shareholders' Equity		 6,181 6,327 6,685 4,270
Total Liabilities		 3,020 3,098 3,497 2,756
Total Current Liabilities		 43 45 50 143
Other Current Liabilities		 - - - 88
Other Current Nonoperating Liabilities		 43 45 50 55
Total Noncurrent Liabilities		 2,977 3,053 3,447 2,613
Long-Term Debt		 1,765 1,780 2,143 2,402
Noncurrent Deferred & Payable Income Tax Liabilities		 42 46 52 45
Noncurrent Employee Benefit Liabilities		 197 211 215 85
Other Noncurrent Operating Liabilities		 973 1,016 1,037 81
Commitments & Contingencies		 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 3,161 3,228 3,188 1,514
Total Preferred & Common Equity		 2,434 2,503 2,497 828
Total Common Equity		 2,434 2,503 2,497 828
Common Stock		 656 659 669 676
Retained Earnings		 1,797 1,871 1,852 169
Treasury Stock		 -25 -25 -25 -29
Accumulated Other Comprehensive Income / (Loss)		 6.09 -2.14 0.55 12
Noncontrolling Interest		 726 725 691 686

Annual Metrics And Ratios for Burford Capital

This table displays calculated financial ratios and metrics derived from Burford Capital's official financial filings.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - -
Revenue Growth		 0.00% 22.18% -38.66% -33.77% 47.02% 240.48% -49.76% -24.31%
EBITDA Growth		 0.00% 26.21% -43.98% -71.21% 182.57% 347.15% -53.53% -39.60%
EBIT Growth		 0.00% 26.01% -44.89% -71.26% 196.87% 347.15% -53.53% -39.60%
NOPAT Growth		 0.00% 13.74% -49.73% -193.95% 202.15% 355.27% -55.43% -43.61%
Net Income Growth		 0.00% 3.19% -52.10% -104.42% 1,504.71% 636.92% -68.03% -68.56%
EPS Growth		 0.00% 0.00% -52.55% -120.00% 207.69% 1,857.14% -75.91% -57.58%
Operating Cash Flow Growth		 0.00% -17.25% 119.68% -1,187.49% 20.37% 41.07% 178.90% -113.39%
Free Cash Flow Firm Growth		 0.00% 0.00% -254.57% -199.14% 24.89% 45.83% 231.11% -92.69%
Invested Capital Growth		 0.00% 13.27% 19.26% 18.08% 22.35% 30.38% 0.78% 3.93%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -12.60%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -20.99%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -20.99%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -24.00%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -46.82%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -28.21%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -190.03%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.74%
Profitability Metrics		 - - - - - - - -
Gross Margin		 89.88% 92.73% 94.93% 94.59% 94.80% 88.27% 92.09% 89.45%
EBITDA Margin		 74.44% 76.89% 70.22% 30.52% 58.67% 77.05% 71.27% 56.86%
Operating Margin		 72.60% 74.17% 63.68% 31.59% 61.07% 75.05% 71.53% 56.15%
EBIT Margin		 72.27% 74.53% 66.96% 29.05% 58.67% 77.05% 71.27% 56.86%
Profit (Net Income) Margin		 72.60% 61.31% 47.88% -3.20% 30.53% 66.08% 42.04% 17.46%
Tax Burden Percent		 99.89% 91.13% 86.98% -248.76% 89.40% 97.28% 90.53% 85.91%
Interest Burden Percent		 100.57% 90.27% 82.21% 4.42% 58.21% 88.16% 65.16% 35.75%
Effective Tax Rate		 0.00% 8.87% 13.02% 348.76% 10.60% 2.72% 9.47% 14.09%
Return on Invested Capital (ROIC)		 18.16% 19.37% 8.36% -6.62% 5.62% 20.19% 7.92% 4.36%
ROIC Less NNEP Spread (ROIC-NNEP)		 18.16% 16.54% 6.24% 25.48% -3.39% 13.54% -2.14% -4.86%
Return on Net Nonoperating Assets (RNNOA)		 5.13% 28.70% 7.15% 6.29% -1.28% 5.49% -0.82% -2.10%
Return on Equity (ROE)		 23.30% 48.08% 15.52% -0.34% 4.34% 25.67% 7.10% 2.26%
Cash Return on Invested Capital (CROIC)		 0.00% 6.93% -9.20% -23.21% -14.48% -6.19% 7.14% 0.51%
Operating Return on Assets (OROA)		 12.40% 14.26% 6.96% 1.80% 4.66% 16.54% 6.48% 3.67%
Return on Assets (ROA)		 12.46% 11.73% 4.98% -0.20% 2.43% 14.19% 3.82% 1.13%
Return on Common Equity (ROCE)		 23.30% 48.08% 13.52% -0.28% 3.32% 18.51% 5.18% 1.72%
Return on Equity Simple (ROE_SIMPLE)		 23.30% 0.00% 8.91% -0.41% 5.59% 31.35% 9.49% 0.00%
Net Operating Profit after Tax (NOPAT)		 318 361 182 -171 174 793 354 199
NOPAT Margin		 72.60% 67.59% 55.39% -78.57% 54.60% 73.00% 64.76% 48.24%
Net Nonoperating Expense Percent (NNEP)		 0.00% 2.83% 2.12% -32.11% 9.01% 6.64% 10.05% 9.22%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - 4.79% 16.73% 7.04% 3.79%
Cost of Revenue to Revenue		 10.12% 7.27% 5.07% 5.41% 5.20% 11.73% 7.91% 10.55%
SG&A Expenses to Revenue		 15.12% 8.92% 16.15% 29.84% 9.30% 3.10% 5.68% 21.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 17.29% 18.56% 31.25% 63.10% 33.73% 13.23% 20.56% 33.29%
Earnings before Interest and Taxes (EBIT)		 316 398 220 63 187 837 389 235
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 326 411 230 66 187 837 389 235
Valuation Ratios		 - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 1.32 1.01 1.48 1.15 0.80
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 1.44 1.09 1.57 1.22 0.84
Price to Revenue (P/Rev)		 0.00 0.00 0.00 10.35 5.49 3.11 5.11 4.72
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 57.44 5.53 19.06 31.20
Dividend Yield		 0.00% 0.00% 0.00% 1.83% 1.56% 0.81% 0.98% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 1.74% 18.07% 5.25% 3.20%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 1.19 1.00 1.24 1.08 0.88
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 15.32 10.67 5.06 8.87 9.93
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 50.17 18.18 6.57 12.45 17.46
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 52.71 18.18 6.57 12.45 17.46
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 19.54 6.93 13.70 20.58
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 22.35 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 15.19 175.98
Leverage & Solvency		 - - - - - - - -
Debt to Equity		 0.48 0.00 0.33 0.49 0.52 0.48 0.54 0.68
Long-Term Debt to Equity		 0.48 0.00 0.33 0.49 0.52 0.48 0.54 0.68
Financial Leverage		 0.28 1.74 1.15 0.25 0.38 0.41 0.38 0.43
Leverage Ratio		 1.87 4.10 3.12 1.70 1.79 1.81 1.86 2.01
Compound Leverage Factor		 1.88 3.70 2.56 0.08 1.04 1.60 1.21 0.72
Debt to Total Capital		 32.22% 100.00% 24.82% 32.66% 34.41% 32.36% 35.13% 40.49%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 32.22% 100.00% 24.82% 32.66% 34.41% 32.36% 35.13% 40.49%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 9.68% 13.17% 17.71% 19.33% 16.68% 12.93%
Common Equity to Total Capital		 67.78% 0.00% 65.51% 54.17% 47.88% 48.30% 48.19% 46.58%
Debt to EBITDA		 1.99 1.62 2.90 15.43 6.69 1.83 4.53 9.05
Net Debt to EBITDA		 1.17 1.16 1.43 10.06 5.38 1.44 3.12 6.26
Long-Term Debt to EBITDA		 1.99 1.62 2.90 15.43 6.69 1.83 4.53 9.05
Debt to NOPAT		 2.04 1.84 3.68 -5.99 7.19 1.93 4.99 10.67
Net Debt to NOPAT		 1.20 1.33 1.81 -3.91 5.79 1.52 3.43 7.38
Long-Term Debt to NOPAT		 2.04 1.84 3.68 -5.99 7.19 1.93 4.99 10.67
Altman Z-Score		 0.00 0.00 0.00 1.45 1.19 1.74 1.23 0.84
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 12.87% 16.28% 23.51% 27.91% 27.14% 23.76%
Liquidity Ratios		 - - - - - - - -
Current Ratio		 0.00 0.00 35.44 25.55 14.51 0.44 0.72 0.71
Quick Ratio		 0.00 0.00 35.44 25.55 14.51 0.44 0.72 0.71
Cash Flow Metrics		 - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 129 -200 -598 -449 -243 319 23
Operating Cash Flow to CapEx		 -224,339.42% -8,050.47% 14,951.94% -205,390.88% -114,521.87% -8,551.74% 32,787.44% -10,216.20%
Free Cash Flow to Firm to Interest Expense		 0.00 3.34 -5.12 -9.91 -5.74 -2.45 2.35 0.15
Operating Cash Flow to Interest Expense		 0.00 -7.06 1.38 -9.71 -5.96 -2.77 1.60 -0.19
Operating Cash Flow Less CapEx to Interest Expense		 0.00 -7.15 1.37 -9.71 -5.96 -2.80 1.59 -0.19
Efficiency Ratios		 - - - - - - - -
Asset Turnover		 0.17 0.19 0.10 0.06 0.08 0.21 0.09 0.06
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - -
Invested Capital		 1,748 1,980 2,362 2,789 3,412 4,449 4,484 4,660
Invested Capital Turnover		 0.25 0.29 0.15 0.08 0.10 0.28 0.12 0.09
Increase / (Decrease) in Invested Capital		 0.00 232 381 427 623 1,037 35 176
Enterprise Value (EV)		 0.00 0.00 0.00 3,325 3,405 5,502 4,844 4,104
Market Capitalization		 0.00 0.00 0.00 2,246 1,752 3,379 2,792 1,952
Book Value per Share		 $0.00 $0.00 $8.05 $7.74 $7.96 $10.48 $11.05 $11.18
Tangible Book Value per Share		 $0.00 ($0.65) $7.44 $7.13 $7.34 $9.87 $10.44 $10.57
Total Capital		 2,011 665 2,691 3,131 3,639 4,743 5,020 5,256
Total Debt		 648 665 668 1,023 1,252 1,535 1,764 2,128
Total Long-Term Debt		 648 665 668 1,023 1,252 1,535 1,764 2,128
Net Debt		 382 479 329 667 1,008 1,207 1,215 1,472
Capital Expenditures (CapEx)		 0.10 3.40 0.36 0.29 0.41 3.21 0.66 0.28
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 0.00 -9.56 -14 -17 -739 -759 -919
Debt-free Net Working Capital (DFNWC)		 266 187 329 342 227 -411 -210 -263
Net Working Capital (NWC)		 266 187 329 342 227 -411 -210 -263
Net Nonoperating Expense (NNE)		 0.00 34 25 -164 77 75 124 127
Net Nonoperating Obligations (NNO)		 385 1,980 339 681 1,025 1,241 1,227 1,532
Total Depreciation and Amortization (D&A)		 9.49 13 11 3.19 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% -2.91% -6.41% -5.27% -67.96% -139.02% -222.21%
Debt-free Net Working Capital to Revenue		 60.71% 34.92% 100.38% 157.36% 71.17% -37.77% -38.49% -63.53%
Net Working Capital to Revenue		 60.71% 34.92% 100.38% 157.36% 71.17% -37.77% -38.49% -63.53%
Earnings Adjustments		 - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 ($0.33) $0.14 $2.79 $0.67 $0.29
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 219.05M 218.76M 218.87M 219.23M 219.15M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 ($0.33) $0.14 $2.74 $0.66 $0.28
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 219.70M 221.80M 223.01M 223.23M 224.58M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 219.05M 218.58M 218.96M 219.42M 218.90M
Normalized Net Operating Profit after Tax (NOPAT)		 222 361 182 48 174 793 354 199
Normalized NOPAT Margin		 50.82% 67.59% 55.39% 22.11% 54.60% 73.00% 64.76% 48.24%
Pre Tax Income Margin		 72.68% 67.28% 55.05% 1.28% 34.15% 67.93% 46.44% 20.33%
Debt Service Ratios		 - - - - - - - -
EBIT to Interest Expense		 0.00 10.28 5.62 1.05 2.39 8.45 2.87 1.56
NOPAT to Interest Expense		 0.00 9.32 4.65 -2.83 2.23 8.00 2.61 1.32
EBIT Less CapEx to Interest Expense		 0.00 10.19 5.61 1.04 2.39 8.41 2.87 1.55
NOPAT Less CapEx to Interest Expense		 0.00 9.24 4.64 -2.83 2.22 7.97 2.60 1.32
Payout Ratios		 - - - - - - - -
Dividend Payout Ratio		 0.00% 8.67% 0.00% -591.67% 28.39% 3.83% 82.73% 269.71%
Augmented Payout Ratio		 0.00% 8.67% 0.00% -591.67% 32.23% 4.35% 84.95% 290.92%

Quarterly Metrics And Ratios for Burford Capital

This table displays calculated financial ratios and metrics derived from Burford Capital's official financial filings.

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - 218,897,440.00
DEI Adjusted Shares Outstanding		 - - - - - - - - 218,897,440.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - -7.46
Growth Metrics		 - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 168.34% 19.81% -71.98% -64.08% -1,547.41%
EBITDA Growth		 0.00% 0.00% 0.00% 0.00% 473.42% 18.36% -87.70% -124.01% -2,103.98%
EBIT Growth		 0.00% 0.00% 0.00% 0.00% 473.42% 18.36% -87.70% -124.01% -2,103.98%
NOPAT Growth		 0.00% 0.00% 0.00% 0.00% 551.14% 29.58% -90.80% -119.51% -1,803.46%
Net Income Growth		 0.00% 0.00% 0.00% 0.00% 310.94% 39.70% -112.84% -455.72% -4,524.67%
EPS Growth		 0.00% 0.00% 0.00% 0.00% 200.00% 62.50% -114.75% -220.00% -5,428.57%
Operating Cash Flow Growth		 0.00% 0.00% 0.00% 0.00% 192.98% 13.50% -107.17% -328.18% -188.05%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 101.92%
Invested Capital Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3.93% -26.88%
Revenue Q/Q Growth		 0.00% 260.43% 56.03% -62.66% 0.00% 60.94% -63.51% -52.13% -5,248.97%
EBITDA Q/Q Growth		 0.00% 788.66% 67.77% -75.29% 0.00% 83.42% -82.57% -148.26% -12,887.16%
EBIT Q/Q Growth		 0.00% 788.66% 67.77% -75.29% 0.00% 83.42% -82.57% -148.26% -12,887.16%
NOPAT Q/Q Growth		 0.00% 961.17% 79.27% -75.91% 0.00% 111.18% -87.27% -151.06% -12,308.36%
Net Income Q/Q Growth		 0.00% 530.17% 109.72% -91.17% 0.00% 184.89% -119.28% -144.72% -3,192.30%
EPS Q/Q Growth		 0.00% 271.43% 154.17% -108.20% 0.00% 178.57% -123.08% -77.78% -4,562.50%
Operating Cash Flow Q/Q Growth		 0.00% -283.86% 387.33% -106.67% 0.00% -154.28% 76.20% -298.52% -71.00%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% -2.94% -3.30% 95.99% 144.97%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 4.52% 0.62% 0.74% -30.99%
Profitability Metrics		 - - - - - - - - -
Gross Margin		 96.30% 91.85% 92.55% 89.25% 94.22% 93.27% 89.30% 50.87% 0.00%
EBITDA Margin		 30.85% 76.06% 81.78% 54.13% 65.93% 75.14% 35.89% -36.19% 0.00%
Operating Margin		 31.96% 76.10% 81.18% 56.68% 65.42% 74.35% 35.51% -37.88% 0.00%
EBIT Margin		 30.85% 76.06% 81.78% 54.13% 65.93% 75.14% 35.89% -36.19% 0.00%
Profit (Net Income) Margin		 -39.50% 47.15% 63.37% 14.99% 31.05% 54.97% -29.04% -148.46% 0.00%
Tax Burden Percent		 92.57% 86.55% 93.23% 86.14% 82.98% 95.81% 122.89% 92.38% 99.85%
Interest Burden Percent		 -138.32% 71.62% 83.12% 32.15% 56.76% 76.36% -65.84% 444.12% 104.16%
Effective Tax Rate		 0.00% 13.45% 6.77% 13.86% 17.02% 4.19% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 5.95% 15.32% 20.22% 5.08% -2.40% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 3.38% 10.86% 15.67% -0.15% -5.35% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 1.27% 4.25% 6.64% -0.07% -2.31% 0.00%
Return on Equity (ROE)		 0.00% 0.00% 0.00% 7.22% 19.57% 26.86% 5.02% -4.71% -68.37%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 7.11% 0.00% 0.00% 0.00% 0.51% 5.02%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 4.92% 6.62% 7.75% 2.54% -2.33% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 1.36% 3.12% 5.67% -2.05% -9.58% 0.00%
Return on Common Equity (ROCE)		 0.00% 0.00% 0.00% 5.26% 15.08% 20.82% 3.93% -3.59% -47.72%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00% 11.67% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 9.91 105 189 45 65 136 17 -8.86 -1,099
NOPAT Margin		 22.37% 65.87% 75.68% 48.82% 54.29% 71.24% 24.86% -26.51% 0.00%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 2.57% 4.46% 4.55% 5.24% 2.95% 36.33%
Return On Investment Capital (ROIC_SIMPLE)		 - - - 0.90% 1.31% 2.72% 0.33% -0.17% -28.07%
Cost of Revenue to Revenue		 3.70% 8.15% 7.45% 10.75% 5.78% 6.73% 10.70% 49.13% 0.00%
SG&A Expenses to Revenue		 43.14% 11.68% 7.84% 17.37% 19.02% 10.22% 31.15% 68.59% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 64.34% 15.74% 11.37% 32.58% 28.80% 18.92% 53.79% 88.75% 0.00%
Earnings before Interest and Taxes (EBIT)		 14 121 204 50 78 144 25 -12 -1,570
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 14 121 204 50 78 144 25 -12 -1,570
Valuation Ratios		 - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 1.14 1.19 1.25 1.04 0.80 1.20
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 1.21 1.26 1.32 1.10 0.84 1.43
Price to Revenue (P/Rev)		 0.00 0.00 0.00 5.05 4.67 4.78 5.50 4.72 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 18.84 13.98 12.89 29.85 31.20 0.00
Dividend Yield		 0.79% 0.97% 0.96% 0.99% 0.95% 0.00% 1.05% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 5.31% 7.15% 7.76% 3.35% 3.20% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 1.07 1.10 1.12 1.01 0.88 1.03
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 8.81 7.76 7.92 9.89 9.93 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 12.37 10.62 10.85 15.72 17.46 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 12.37 10.62 10.85 15.72 17.46 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 13.61 11.84 11.78 17.83 20.58 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 22.20 15.11 15.56 145.14 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 175.98 17.37
Leverage & Solvency		 - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.54 0.56 0.55 0.67 0.68 1.59
Long-Term Debt to Equity		 0.00 0.00 0.00 0.54 0.56 0.55 0.67 0.68 1.59
Financial Leverage		 0.00 0.00 0.00 0.38 0.39 0.42 0.45 0.43 0.63
Leverage Ratio		 0.00 0.00 0.00 1.86 1.96 1.96 2.10 2.01 2.24
Compound Leverage Factor		 0.00 0.00 0.00 0.60 1.11 1.50 -1.38 8.92 2.33
Debt to Total Capital		 0.00% 0.00% 0.00% 35.13% 35.83% 35.54% 40.20% 40.49% 61.34%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 35.13% 35.83% 35.54% 40.20% 40.49% 61.34%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 16.68% 14.74% 14.48% 12.96% 12.93% 17.51%
Common Equity to Total Capital		 0.00% 0.00% 0.00% 48.19% 49.43% 49.98% 46.83% 46.58% 21.15%
Debt to EBITDA		 0.00 0.00 0.00 4.53 3.89 3.74 7.21 9.05 -1.70
Net Debt to EBITDA		 0.00 0.00 0.00 3.12 2.63 2.78 4.66 6.26 -1.16
Long-Term Debt to EBITDA		 0.00 0.00 0.00 4.53 3.89 3.74 7.21 9.05 -1.70
Debt to NOPAT		 0.00 0.00 0.00 4.99 4.34 4.06 8.17 10.67 -2.42
Net Debt to NOPAT		 0.00 0.00 0.00 3.43 2.94 3.02 5.29 7.38 -1.66
Long-Term Debt to NOPAT		 0.00 0.00 0.00 4.99 4.34 4.06 8.17 10.67 -2.42
Altman Z-Score		 0.00 0.00 0.00 1.04 1.23 1.27 1.04 0.72 -1.10
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 27.14% 22.98% 22.47% 21.68% 23.76% 30.21%
Liquidity Ratios		 - - - - - - - - -
Current Ratio		 0.00 0.00 0.00 0.72 13.27 10.09 14.99 0.71 5.29
Quick Ratio		 0.00 0.00 0.00 0.72 13.27 10.09 14.99 0.71 5.29
Cash Flow Metrics		 - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 0.00 0.00 0.00 -4,334 -4,461 -4,608 -185 83
Operating Cash Flow to CapEx		 123,169.77% -216,397.78% 548,631.37% -3,574.90% 646,541.67% -81,777.67% -34,568.97% -80,710.10% -333,251.22%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 -127.91 -131.28 -110.91 -4.44 1.68
Operating Cash Flow to Interest Expense		 1.63 -2.83 8.13 -0.55 4.58 -2.48 -0.48 -1.92 -2.75
Operating Cash Flow Less CapEx to Interest Expense		 1.63 -2.83 8.13 -0.56 4.58 -2.48 -0.48 -1.92 -2.75
Efficiency Ratios		 - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.09 0.10 0.10 0.07 0.06 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - -
Invested Capital		 0.00 0.00 0.00 4,484 4,398 4,597 4,625 4,660 3,216
Invested Capital Turnover		 0.00 0.00 0.00 0.12 0.28 0.28 0.20 0.09 0.00
Increase / (Decrease) in Invested Capital		 0.00 0.00 0.00 0.00 4,398 4,597 4,625 176 -1,182
Enterprise Value (EV)		 0.00 0.00 0.00 4,812 4,819 5,167 4,678 4,104 3,322
Market Capitalization		 3,465 2,831 2,857 2,760 2,899 3,118 2,600 1,952 989
Book Value per Share		 $0.00 $0.00 $0.00 $11.05 $11.09 $11.45 $11.41 $11.18 $3.78
Tangible Book Value per Share		 $0.00 $0.00 $0.00 $10.44 $10.48 $10.83 $10.80 $10.57 $3.17
Total Capital		 0.00 0.00 0.00 5,020 4,925 5,008 5,332 5,256 3,915
Total Debt		 0.00 0.00 0.00 1,764 1,765 1,780 2,143 2,128 2,402
Total Long-Term Debt		 0.00 0.00 0.00 1,764 1,765 1,780 2,143 2,128 2,402
Net Debt		 0.00 0.00 0.00 1,215 1,195 1,323 1,387 1,472 1,647
Capital Expenditures (CapEx)		 0.04 0.05 0.05 0.52 0.02 0.10 0.06 0.10 0.04
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 0.00 0.00 -759 -43 -45 -50 -919 -143
Debt-free Net Working Capital (DFNWC)		 0.00 0.00 0.00 -210 527 411 706 -263 612
Net Working Capital (NWC)		 0.00 0.00 0.00 -210 527 411 706 -263 612
Net Nonoperating Expense (NNE)		 27 30 31 31 28 31 38 41 534
Net Nonoperating Obligations (NNO)		 0.00 0.00 0.00 1,227 1,238 1,369 1,437 1,532 1,702
Total Depreciation and Amortization (D&A)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% -139.02% -6.92% -6.94% -10.67% -222.21% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% -38.49% 84.95% 63.05% 149.33% -63.53% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% -38.49% 84.95% 63.05% 149.33% -63.53% 0.00%
Earnings Adjustments		 - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 ($0.06) $0.14 $0.40 ($0.09) ($0.16) ($7.46)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 219.23M 219.30M 218.67M 219.27M 219.15M 218.84M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 ($0.05) $0.14 $0.39 ($0.09) ($0.16) ($7.46)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 223.23M 223.10M 223.98M 219.27M 224.58M 218.84M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 219.42M 218.66M 218.81M 218.89M 218.90M 219.07M
Normalized Net Operating Profit after Tax (NOPAT)		 9.91 105 189 45 65 136 17 -8.86 -1,099
Normalized NOPAT Margin		 22.37% 65.87% 75.68% 48.82% 54.29% 71.24% 24.86% -26.51% 0.00%
Pre Tax Income Margin		 -42.67% 54.47% 67.97% 17.40% 37.42% 57.37% -23.63% -160.71% 0.00%
Debt Service Ratios		 - - - - - - - - -
EBIT to Interest Expense		 0.42 3.52 5.92 1.47 2.31 4.23 0.60 -0.29 -31.63
NOPAT to Interest Expense		 0.30 3.05 5.48 1.33 1.90 4.01 0.42 -0.21 -22.14
EBIT Less CapEx to Interest Expense		 0.42 3.52 5.92 1.46 2.31 4.23 0.60 -0.29 -31.63
NOPAT Less CapEx to Interest Expense		 0.30 3.05 5.48 1.31 1.90 4.01 0.42 -0.22 -22.14
Payout Ratios		 - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 82.73% 85.29% 96.54% 184.13% 269.71% -4.85%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 84.95% 90.94% 101.42% 195.41% 290.92% -5.08%

Financials Breakdown Chart

Key Financial Trends

Here are the top takeaways from Burford Capital's quarterly results through Q4 2025, based on the provided income statements, cash flows, and balance sheets. The bullets are ordered with positive items first, then neutral, then negative.

  • In Q2 2025, Burford reported net income from continuing operations of about $105.2 million, with basic earnings per share (EPS) of $0.40 and diluted EPS of $0.39, marking a solid profitable quarter on core operations.
  • In Q1 2025, net income attributable to common shareholders was about $30.9 million, contributing to a positive quarterly earnings signal.
  • Q2 2025 showed a very high gross margin, with Gross Profit of $178.4 million on Revenue of $191.3 million (roughly 93% gross margin).
  • In Q3 2025, there was a $500 million issuance of debt, which substantially boosted liquidity, and the quarter delivered a positive net cash from continuing financing activities of about $334.2 million.
  • Q3 2025 also produced a strong quarterly change in cash and equivalents, with Net Change in Cash & Equivalents of about $305.8 million, supported by financing activity.
  • Across 2025 up to Q3, Burford’s equity base remained robust, with Total Equity + Noncontrolling Interests around $3.188 billion and Total Common Equity around $2.496 billion by Q3 2025.
  • A notable spike in Other Noncurrent Operating Assets in Q3 2025 (~$5.79 billion) reflects a one-time asset move or reclassification; without additional context, this is a neutral factor for evaluating ongoing performance.
  • Revenue in 2025 has been volatile across quarters (Q2 ~$191.3M; Q3 ~$69.8M; Q4 ~$33.4M; Q1 ~$118.9M), indicating variability in quarterly activity and deal flow typical of litigation-finance results.
  • Q3 2025 and Q4 2025 posted net losses, including net income from continuing operations of about -$20.0 million in Q3 2025 and net income attributable to common shareholders of about -$37.5 million in Q4 2025.
  • Operating cash flow was negative in three of the four 2025 quarters (Q2: about -$84.2 million; Q3: about -$20.0 million; Q4: about -$79.9 million), signaling ongoing cash-collection and working-capital pressures despite earnings in some periods.
05/22/26 02:42 PM ETAI Generated. May Contain Errors.

Burford Capital Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Burford Capital's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Burford Capital's net income appears to be on a downward trend, with a most recent value of $72.19 million in 2025, falling from $317.58 million in 2018. The previous period was $229.58 million in 2024. See Burford Capital's forecast for analyst expectations on what's next for the company.

Burford Capital's total operating income in 2025 was $232.11 million, based on the following breakdown:
  • Total Gross Profit: $369.74 million
  • Total Operating Expenses: $137.63 million

Over the last 7 years, Burford Capital's total revenue changed from $437.44 million in 2018 to $413.36 million in 2025, a change of -5.5%.

Burford Capital's total liabilities were at $3.51 billion at the end of 2025, a 20.4% increase from 2024, and a 196.3% increase since 2018.

In the past 7 years, Burford Capital's cash and equivalents has ranged from $107.66 million in 2022 to $566.44 million in 2025, and is currently $566.44 million as of their latest financial filing in 2025.

Over the last 7 years, Burford Capital's book value per share changed from 0.00 in 2018 to 11.18 in 2025, a change of 1,118.4%.


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Financial statements for NYSE:BUR last updated on 5/13/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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