Burford Capital LtdBurford Capital Ltd
Burford Capital Ltd

Burford Capital Ltd

BUR
Financials·Financial Services

Burford Capital Ltd. engages in the provision of legal finance products and services comprising core legal finance and alternative strategies, and in the asset management business. It operates through following segments: Principal Finance and Asset Management and Other Services. The Principal Finance segment focuses on allocation of capital to legal finance assets. The Asset Management and Other Services segment manages legal finance assets on behalf of third-party investors and provides other services to the legal industry. The company was founded by Christopher P. Bogart, Elizabeth O'Connell, and Jonathan T. Molot on September 11, 2009 and is headquartered in St. Peter Port, Guernsey.

Guernsey
Market cap
No dataNo data
Revenue
$413.4M−24.3% YoY
Net income
$62.6M−57.3% YoY
Free cash flow
$-29.3M−113.6% YoY

Market

Listed stock
BURPriceNYSE
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Financial performance

Revenue
$413.4M−24.3% YoY
Operating income
$232.1M−40.6% YoY
Net income
$62.6M−57.3% YoY
Free cash flow
$-29.3M−113.6% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $150M, 2022 $319.2M, 2023 $1.1B, 2024 $546.1M, 2025 $413.4M. Operating income: 2021 $6.3M, 2022 $195M, 2023 $815.7M, 2024 $390.6M, 2025 $232.1M. Net income: 2021 $-72.1M, 2022 $30.5M, 2023 $610.5M, 2024 $146.5M, 2025 $62.6M. Free cash flow: 2021 $-585.6M, 2022 $-466.5M, 2023 $-277.9M, 2024 $216.1M, 2025 $-29.3M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
-24.3%+2545 bps YoY
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $6.3M, 2022-12-31 $195M, 2023-12-31 $815.7M, 2024-12-31 $390.6M, 2025-12-31 $232.1M. Net income: 2021-12-31 $-72.1M, 2022-12-31 $30.5M, 2023-12-31 $610.5M, 2024-12-31 $146.5M, 2025-12-31 $62.6M. Free cash flow: 2021-12-31 $-585.6M, 2022-12-31 $-466.5M, 2023-12-31 $-277.9M, 2024-12-31 $216.1M, 2025-12-31 $-29.3M

Growth heatmap

2022202320242025CAGR
Revenue
+112.9%
+240.5%
-49.8%
-24.3%
+28.8%
Gross profit
+112.9%
+240.5%
-49.8%
-24.3%
+28.8%
Operating income
+2977.4%
+318.4%
-52.1%
-40.6%
+146.0%
Free cash flow
+20.3%
+40.4%
+177.8%
-113.6%
No data

Earnings quality

Operating cash flow
$-29M−113.4% YoY
Net income
$62.6M−57.3% YoY
Free cash flow
$-29.3M−113.6% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 -46%, 2024-12-31 148%, 2023-12-31 -45%, 2022-12-31 -1528%, 2021-12-31 812%. Free cash flow: 2025-12-31 -47%, 2024-12-31 148%, 2023-12-31 -46%, 2022-12-31 -1529%, 2021-12-31 813%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
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Diluted shares
Latest
No data

Financial flexibility

Cash & equivalents
No dataNo data
Total debt
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Net debt
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Current ratio
No dataNo data

Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
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Return on invested capital
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Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
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Price to sales
No data
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EV / EBITDA
No data
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Free cash flow yield
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