Burford Capital Ltd income statement
In fiscal 2025, Burford Capital Ltd reported revenue of $413m, down 24.3% on the year before, operating income of $232m (a 56.2% margin) and net income of $62.6m, or $0.28 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 534 | 328 | 217 | 319 | 1,087 | 546 | 413 | −1,506 |
| General and administrative | 22 | 21 | 30 | 30 | 34 | 31 | 38 | 38 |
| Operating income | 396 | 209 | 69 | 195 | 816 | 391 | 232 | −1,495 |
| Interest expense | 39 | 39 | 59 | 77 | 99 | 136 | 151 | 182 |
| Income before tax | 360 | 180 | 3 | 109 | 738 | 254 | 84 | −1,692 |
| Income tax | 32 | 24 | 10 | 12 | 20 | 24 | 12 | 2 |
| Net income | 301 | 143 | −29 | 31 | 611 | 146 | 63 | −1,687 |
| Diluted EPS | $1.37 | $0.65 | −$0.13 | $0.14 | $2.74 | $0.66 | $0.28 | −$7.54 |
| Diluted shares (average) | 219m | 220m | 219m | 222m | 223m | 223m | 225m | 224m |
| EBITDA | 409 | 219 | 72 | 199 | 821 | — | — | — |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 249 | 93 | 119 | 191 | 70 | 33 | −1,720 | 111 |
| General and administrative | 9 | 7 | 10 | 8 | 11 | 10 | 9 | 9 |
| Operating income | 202 | 53 | 78 | 142 | 25 | −13 | −1,570 | 63 |
| Interest expense | 34 | 34 | 34 | 34 | 42 | 42 | 50 | 50 |
| Income before tax | 169 | 16 | 44 | 110 | −16 | −54 | −1,636 | 14 |
| Income tax | 11 | 2 | 8 | 5 | 4 | −4 | −2 | 4 |
| Net income | 136 | −13 | 31 | 88 | −19 | −37 | −1,632 | 2 |
| Diluted EPS | $0.61 | −$0.05 | $0.14 | $0.39 | −$0.09 | −$0.17 | −$7.46 | $0.01 |
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