What is Burford Capital's earnings per share (EPS)?

Burford Capital (BUR) reported diluted earnings per share of $0.28 for fiscal year 2025. This represents a -57.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Burford Capital Financials

BUR

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Burford Capital (BUR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 42/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

100

Burford Capital has an operating margin of 56.1%, meaning the company retains $56 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is down from 71.5% the prior year.

Growth

Burford Capital's revenue declined 24.3% year-over-year, from $546.1M to $413.4M. This contraction results in a growth score of 0/100.

Leverage

Burford Capital carries a low D/E ratio of 0.87, meaning only $0.87 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 84/100, indicating a strong balance sheet with room for future borrowing.

Cash Flow

While Burford Capital generated -$29.0M in operating cash flow, capex of $284K consumed most of it, leaving -$29.3M in free cash flow. This results in a low score of 7/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Burford Capital generates a 2.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 17/100. This is down from 6.0% the prior year.

Piotroski F-Score Weak

2/9

Burford Capital passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

-0.46x

For every $1 of reported earnings, Burford Capital generates $-0.46 in operating cash flow (-$29.0M OCF vs $62.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

1.6x

Burford Capital earns $1.6 in operating income for every $1 of interest expense ($232.1M vs $146.1M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$413.4M

YoY-24.3%

5Y CAGR+4.7%

Burford Capital generated $413.4M in revenue in fiscal year 2025. This represents a decrease of 24.3% from the prior year.

EBITDA

N/A

Net Income

$62.6M

YoY-57.3%

5Y CAGR-15.3%

Burford Capital reported $62.6M in net income in fiscal year 2025. This represents a decrease of 57.3% from the prior year.

EPS (Diluted)

$0.28

YoY-57.6%

5Y CAGR-15.5%

Burford Capital earned $0.28 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 57.6% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$29.3M

YoY-113.6%

Burford Capital generated -$29.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 113.6% from the prior year.

Cash & Debt

$566.4M

YoY+20.5%

5Y CAGR+12.0%

Burford Capital held $566.4M in cash against $2.1B in long-term debt as of fiscal year 2025.

Dividends Per Share

$12.50

YoY+0.0%

Burford Capital paid $12.50 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Shares Outstanding

219M

YoY-0.2%

5Y CAGR-0.0%

Burford Capital had 219M shares outstanding in fiscal year 2025. This represents a decrease of 0.2% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

56.1%

YoY-15.4pp

5Y CAGR-7.5pp

Burford Capital's operating margin was 56.1% in fiscal year 2025, reflecting core business profitability. This is down 15.4 percentage points from the prior year.

Net Margin

15.1%

YoY-11.7pp

5Y CAGR-28.6pp

Burford Capital's net profit margin was 15.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 11.7 percentage points from the prior year.

Return on Equity

2.6%

YoY-3.5pp

5Y CAGR-5.6pp

Burford Capital's ROE was 2.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 3.5 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$15.3M

YoY+200.8%

Burford Capital spent $15.3M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 200.8% from the prior year.

Capital Expenditures

$284K

YoY-57.0%

5Y CAGR-4.6%

Burford Capital invested $284K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 57.0% from the prior year.

BUR Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$413.4M-24.3%	$546.1M-49.8%	$1.1B+240.5%	$319.2M+46.9%	$217.3M-33.7%	$327.9M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$38.4M+23.6%	$31.0M-7.8%	$33.7M+13.4%	$29.7M-2.6%	$30.5M+41.9%	$21.5M
Operating Income	$232.1M-40.6%	$390.6M-52.1%	$815.7M+318.4%	$195.0M+184.3%	$68.6M-67.1%	$208.8M
Interest Expense	$146.1M+11.5%	$131.0M+32.2%	$99.1M+28.1%	$77.4M+32.0%	$58.6M+50.2%	$39.0M
Income Tax	$11.8M-50.7%	$24.0M+19.5%	$20.1M+73.8%	$11.6M+18.8%	$9.7M-58.6%	$23.5M
Net Income	$62.6M-57.3%	$146.5M-76.0%	$610.5M+1901.3%	$30.5M+206.1%	-$28.8M-120.1%	$143.3M
EPS (Diluted)	$0.28-57.6%	$0.66-75.9%	$2.74+1857.1%	$0.14+207.7%	$-0.13-120.0%	$0.65

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$33.4M-52.1%	$69.8M-63.5%	$191.3M+60.9%	$118.9M+27.8%	$93.0M-62.7%	$249.1M+56.0%	$159.7M+260.4%	$44.3M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$9.8M-6.6%	$10.5M+35.1%	$7.8M-23.7%	$10.2M+57.0%	$6.5M-30.3%	$9.3M+20.5%	$7.7M+3.9%	$7.5M
Operating Income	-$12.7M-151.1%	$24.8M-82.6%	$142.2M+82.9%	$77.8M+47.5%	$52.7M-73.9%	$202.2M+66.4%	$121.5M+758.2%	$14.2M
Interest Expense	$40.2M0.0%	$40.2M+22.3%	$32.9M+0.3%	$32.8M-0.8%	$33.0M-0.7%	$33.3M-0.1%	$33.3M+5.9%	$31.4M
Income Tax	-$4.1M-208.4%	$3.8M-17.8%	$4.6M-39.3%	$7.6M+237.3%	$2.2M-80.4%	$11.5M-2.0%	$11.7M+933.1%	-$1.4M
Net Income	-$37.5M-95.7%	-$19.2M-121.7%	$88.3M+185.5%	$30.9M+338.5%	-$13.0M-109.6%	$135.6M+152.4%	$53.7M+279.5%	-$29.9M
EPS (Diluted)	N/A	$-0.09-123.1%	$0.39+178.6%	$0.14	N/A	$0.61+154.2%	$0.24+271.4%	$-0.14

BUR Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$6.6B+7.5%	$6.2B+5.8%	$5.8B+36.1%	$4.3B+14.6%	$3.7B+14.5%	$3.3B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$566.4M+20.5%	$469.9M+113.1%	$220.5M+104.9%	$107.7M-40.3%	$180.3M-44.0%	$322.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$134.0M+0.1%	$133.9M0.0%	$134.0M0.0%	$133.9M-0.1%	$134.0M0.0%	$134.0M
Total Liabilities	$3.5B+20.4%	$2.9B+11.0%	$2.6B+38.3%	$1.9B+16.4%	$1.6B+31.3%	$1.2B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$2.1B+20.7%	$1.8B+14.9%	$1.5B+20.9%	$1.3B+22.4%	$1.0B+53.0%	$677.4M
Total Equity	$2.4B+1.2%	$2.4B+5.6%	$2.3B+31.5%	$1.7B+2.8%	$1.7B-3.8%	$1.8B
Retained Earnings	$1.8B+1.9%	$1.8B+7.1%	$1.6B+53.5%	$1.1B+0.6%	$1.1B-6.0%	$1.1B

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$6.6B-0.7%	$6.7B+5.7%	$6.3B+2.4%	$6.2B+0.1%	$6.2B	N/A	N/A	N/A
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$566.4M-16.4%	$677.7M+82.0%	$372.2M-23.5%	$486.6M+3.6%	$469.9M-18.1%	$574.0M+46.9%	$390.7M-19.1%	$482.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$134.0M0.0%	$134.0M0.0%	$134.0M0.0%	$134.0M0.0%	$133.9M	N/A	N/A	N/A
Total Liabilities	$3.5B+0.5%	$3.5B+12.9%	$3.1B+2.6%	$3.0B+3.5%	$2.9B	N/A	N/A	N/A
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$2.1B-0.7%	$2.1B+20.4%	$1.8B+0.9%	$1.8B+0.1%	$1.8B	N/A	N/A	N/A
Total Equity	$2.4B-2.0%	$2.5B-0.2%	$2.5B+2.8%	$2.4B+0.6%	$2.4B-26.6%	$3.3B+2.0%	$3.2B+3.4%	$3.1B
Retained Earnings	$1.8B-2.8%	$1.9B-1.0%	$1.9B+4.1%	$1.8B+1.8%	$1.8B	N/A	N/A	N/A

BUR Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$29.0M-113.4%	$216.7M+178.9%	-$274.7M+41.1%	-$466.1M+20.4%	-$585.4M-1187.5%	$53.8M
Capital Expenditures	$284K-57.0%	$661K-79.4%	$3.2M+689.2%	$407K+42.8%	$285K-20.8%	$360K
Free Cash Flow	-$29.3M-113.6%	$216.1M+177.8%	-$277.9M+40.4%	-$466.5M+20.3%	-$585.6M-1195.3%	$53.5M
Investing Cash Flow	-$8.8M-1231.2%	-$661K+79.4%	-$3.2M-689.2%	-$407K-42.8%	-$285K+20.8%	-$360K
Financing Cash Flow	$132.4M+291.4%	$33.8M-91.3%	$389.5M-2.4%	$399.1M-10.3%	$444.8M+8561.7%	-$5.3M
Dividends Paid	N/A	N/A	$27.5M-0.6%	$27.7M-32.6%	$41.0M	N/A
Share Buybacks	$15.3M+200.8%	$5.1M+35.4%	$3.8M+0.3%	$3.7M	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	-$79.9M-298.5%	-$20.1M+76.2%	-$84.2M-154.3%	$155.2M+931.5%	-$18.7M-106.7%	$279.8M+387.3%	-$97.4M-283.9%	$53.0M
Capital Expenditures	$99K+70.7%	$58K-43.7%	$103K+329.2%	$24K-95.4%	$522K+923.5%	$51K+13.3%	$45K+4.7%	$43K
Free Cash Flow	-$80.0M-297.9%	-$20.1M+76.2%	-$84.3M-154.4%	$155.1M+908.8%	-$19.2M-106.9%	$279.8M+387.1%	-$97.4M-284.1%	$52.9M
Investing Cash Flow	-$357K+95.7%	-$8.3M-7972.8%	-$103K-329.2%	-$24K+95.4%	-$522K-923.5%	-$51K-13.3%	-$45K-4.7%	-$43K
Financing Cash Flow	-$31.2M-109.3%	$334.2M+1165.6%	-$31.4M+77.5%	-$139.2M-66.8%	-$83.4M+14.5%	-$97.6M-1899.6%	$5.4M-97.4%	$209.4M
Dividends Paid	N/A	N/A	N/A	$0	N/A	N/A	N/A	N/A
Share Buybacks	$0	$0	$0-100.0%	$15.3M	$0	$0-100.0%	$712K-83.7%	$4.4M

BUR Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	56.1%-15.4pp	71.5%-3.5pp	75.0%+14.0pp	61.1%+29.5pp	31.6%-32.1pp	63.7%
Net Margin	15.1%-11.7pp	26.8%-29.3pp	56.2%+46.6pp	9.6%+22.8pp	-13.2%-56.9pp	43.7%
Return on Equity	2.6%-3.5pp	6.0%-20.6pp	26.7%+24.9pp	1.8%+3.5pp	-1.7%-9.8pp	8.1%
Return on Assets	0.9%-1.4pp	2.4%-8.1pp	10.5%+9.8pp	0.7%+1.5pp	-0.8%-5.1pp	4.4%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.87+0.1	0.73+0.1	0.67-0.1	0.73+0.1	0.61+0.2	0.38
FCF Margin	-7.1%-46.7pp	39.6%+65.1pp	-25.6%+120.6pp	-146.1%+123.3pp	-269.5%-285.8pp	16.3%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-37.9%-73.4pp	35.5%-38.8pp	74.4%+8.9pp	65.4%+8.7pp	56.7%-24.5pp	81.2%+5.1pp	76.1%+44.1pp	32.0%
Net Margin	-112.2%-84.8pp	-27.4%-73.6pp	46.2%+20.1pp	26.0%+40.0pp	-13.9%-68.4pp	54.4%+20.8pp	33.7%+101.3pp	-67.6%
Return on Equity	-1.5%-0.8pp	-0.8%-4.3pp	3.5%+2.3pp	1.3%+1.8pp	-0.5%-4.7pp	4.1%+2.4pp	1.7%+2.6pp	-1.0%
Return on Assets	-0.6%-0.3pp	-0.3%-1.7pp	1.4%+0.9pp	0.5%+0.7pp	-0.2%	N/A	N/A	N/A
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.87+0.0	0.86+0.1	0.71-0.0	0.720.0	0.73	N/A	N/A	N/A
FCF Margin	-239.4%-210.6pp	-28.8%+15.3pp	-44.1%-174.6pp	130.5%+151.1pp	-20.6%-132.9pp	112.3%+173.3pp	-61.0%-180.5pp	119.5%

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Frequently Asked Questions

What is Burford Capital's annual revenue?

Burford Capital (BUR) reported $413.4M in total revenue for fiscal year 2025. This represents a -24.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Burford Capital's revenue growing?

Burford Capital (BUR) revenue declined by 24.3% year-over-year, from $546.1M to $413.4M in fiscal year 2025.

Is Burford Capital profitable?

Yes, Burford Capital (BUR) reported a net income of $62.6M in fiscal year 2025, with a net profit margin of 15.1%.

How much debt does Burford Capital have?

As of fiscal year 2025, Burford Capital (BUR) had $566.4M in cash and equivalents against $2.1B in long-term debt.

What is Burford Capital's operating margin?

Burford Capital (BUR) had an operating margin of 56.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Burford Capital's net profit margin?

Burford Capital (BUR) had a net profit margin of 15.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Burford Capital pay dividends?

Yes, Burford Capital (BUR) paid $12.50 per share in dividends during fiscal year 2025.

What is Burford Capital's return on equity (ROE)?

Burford Capital (BUR) has a return on equity of 2.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Burford Capital's free cash flow?

Burford Capital (BUR) generated -$29.3M in free cash flow during fiscal year 2025. This represents a -113.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Burford Capital's operating cash flow?

Burford Capital (BUR) generated -$29.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Burford Capital's total assets?

Burford Capital (BUR) had $6.6B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Burford Capital's capital expenditures?

Burford Capital (BUR) invested $284K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Burford Capital buy back shares?

Yes, Burford Capital (BUR) spent $15.3M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Burford Capital have outstanding?

Burford Capital (BUR) had 219M shares outstanding as of fiscal year 2025.

What is Burford Capital's debt-to-equity ratio?

Burford Capital (BUR) had a debt-to-equity ratio of 0.87 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Burford Capital's return on assets (ROA)?

Burford Capital (BUR) had a return on assets of 0.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Burford Capital's cash runway?

Based on fiscal year 2025 data, Burford Capital (BUR) had $566.4M in cash against an annual operating cash burn of $29.0M. This gives an estimated cash runway of approximately 234 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Burford Capital's Piotroski F-Score?

Burford Capital (BUR) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Burford Capital's earnings high quality?

Burford Capital (BUR) has an earnings quality ratio of -0.46x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Burford Capital cover its interest payments?

Burford Capital (BUR) has an interest coverage ratio of 1.6x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Burford Capital?

Burford Capital (BUR) scores 42 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.