Burford Capital Ltd BUR

Financials SIC 6199 - Finance Services NAICS Finance and Insurance › Securities, Commodity Contracts, and Other Financial Investments and Related Activities › Other Financial Investment Activities derived NYSE

Burford is the world's largest dedicated provider of capital, based on portfolio size, against the underlying value of litigation and legal assets, which we colloquially call legal finance.

We are a global firm that serves the legal industry by providing an array of financial products and services. Our largest business is providing capital to clients engaged in ongoing legal disputes, which they can use both to pay the legal fees and expenses associated with disputes and to monetize the expected future value of disputes. Our focus is on large, complex disputes, not on small-scale litigation typically pursued by consumers or small businesses. We rarely engage in transactions in which we are providing less than $5.0 million in capital, and we frequently provide multiples of that amount up to hundreds of millions of dollars. Since our inception in 2009, we made commitments of more than $12.1 billion into legal finance assets on a group-wide basis.

Last close 3.36 2026-10-23
Market cap $737.8M 2026-06-30 share count
52-week range 2.86 - 11.35

Valuation FY2025 figures against the last close

P/S1.8x
P/E12.0x
P/FCF—
EV/EBITDA8.3x
Dividend yield—
Diluted EPS0.28

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Revenue $413.4M$546.1M$1.09B$319.2M$217.3M$327.9M$534.5M—
SG&A $38.4M$31.0M$33.7M$29.7M$30.5M$21.5M$22.4M—
Total operating expenses $181.2M$155.5M$271.2M$124.3M$148.7M$119.1M$138.1M—
Operating income $232.1M$390.6M$815.7M$195.0M$68.6M$208.8M$396.4M$343.7M
Interest expense $151.0M$135.6M$99.1M$78.3M$58.6M$39.0M$38.7M—
Pre-tax income $84.0M$253.6M$738.3M$109.0M$2.8M$180.5M$359.6M—
Income tax $11.8M$24.0M$20.1M$11.6M$9.7M$23.5M$31.9M—
Net income $62.6M$146.5M$610.5M$30.5M-$28.8M$143.3M$300.5M$317.6M
EPS, basic 0.290.672.790.14-0.130.651.37—
EPS, diluted 0.280.662.740.14-0.130.651.37—
Shares, diluted (wtd. avg.) 224.6M223.2M223.0M221.8M219.0M219.6M219.1M—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Cash and equivalents $566.4M$469.9M$220.5M$107.7M$180.3M$322.1M$273.4M$395.5M
Short-term investments $377.1M$319.9M$13.0M$1.0M$21.6M$5.3M——
Property, plant and equipment $3.0M$3.4M$3.6M$1.3M$2.1M$2.8M——
Goodwill $134.0M$133.9M$134.0M$133.9M$134.0M$134.0M$134.0M—
Total assets $6.64B$6.18B$5.84B$4.29B$3.74B$3.27B$3.04B$2.55B
Long-term debt $2.13B$1.76B$1.53B$1.27B$1.04B$677.4M$665.3M—
Total liabilities $3.51B$2.92B$2.63B$1.90B$1.63B$1.24B——
Retained earnings $1.80B$1.77B$1.65B$1.07B$1.07B$1.14B——
Total equity $2.45B$2.42B$3.21B$2.39B$2.11B$2.02B$1.87B$1.50B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Operating cash flow -$29.0M$216.7M-$274.7M-$466.1M-$585.4M$53.8M-$273.6M—
Depreciation and amortisation ——$5.5M$4.4M$3.2M$10.7M$12.6M—
Stock-based compensation $13.8M$8.7M$8.7M$7.8M$8.8M$5.3M$4.5M—
Capital expenditure $284.0K$661.0K$3.2M$407.0K$285.0K$360.0K$3.4M—
Investing cash flow -$8.8M-$661.0K-$3.2M-$407.0K-$285.0K-$360.0K-$3.4M—
Financing cash flow $132.4M$33.8M$389.5M$399.1M$444.8M-$5.3M$154.7M—
Dividends paid ——$27.5M$27.7M$41.0M—$28.4M—
Buybacks $15.3M$5.1M$3.8M$3.7M————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001714174-26-000007.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -500M 0 500M 1B 1.5B Net income, FY2018: 317.6M Revenue, FY2019: 534.5M Net income, FY2019: 300.5M Revenue, FY2020: 327.9M Net income, FY2020: 143.3M Revenue, FY2021: 217.3M Net income, FY2021: -28.8M Revenue, FY2022: 319.2M Net income, FY2022: 30.5M Revenue, FY2023: 1.1B Net income, FY2023: 610.5M Revenue, FY2024: 546.1M Net income, FY2024: 146.5M Revenue, FY2025: 413.4M Net income, FY2025: 62.6M FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $534.5M $327.9M $217.3M $319.2M $1.09B $546.1M $413.4M
Gross profit — — — — — — — —
Net income $317.6M $300.5M $143.3M -$28.8M $30.5M $610.5M $146.5M $62.6M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Other event Item 8.01
  • Officer or director change Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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