Latest Ratios: P/E Ratio 15.4x · EV/EBITDA 30.1x · ROE 2.0%. (2011–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $942M | $2.0B | $2.8B | $3.5B | $1.8B | $2.3B | $2.1B | $2.1B | $4.2B | — | — |
| Enterprise Value | $2.5B | $3.6B | $4.1B | $4.8B | $2.9B | $3.2B | $2.5B | $2.5B | $4.6B | — | — |
| P/E Ratio → | 15.36 | 31.86 | 19.32 | 5.69 | 58.21 | — | 14.88 | 9.67 | 13.19 | — | — |
| P/S Ratio | 2.77 | 5.89 | 5.92 | 3.22 | 6.58 | 21.39 | 6.71 | 6.29 | 10.83 | — | — |
| P/B Ratio | 0.31 | 0.64 | 0.86 | 1.08 | 0.75 | 1.10 | 1.08 | 1.34 | 3.08 | — | — |
| P/FCF | — | — | 12.95 | — | — | — | 11.78 | — | — | — | — |
| P/OCF | — | — | 12.91 | — | — | — | 11.76 | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 10.57 | 8.69 | 4.46 | 10.86 | 29.29 | 7.84 | 7.78 | 11.79 | — | — |
| EV / EBITDA | 30.11 | 42.74 | 16.19 | 5.80 | 25.93 | 529.48 | 11.32 | 10.70 | 12.97 | — | — |
| EV / EBIT | 30.11 | 42.74 | 16.19 | 5.95 | 26.97 | 1135.66 | 11.92 | — | 13.25 | — | — |
| EV / FCF | — | — | 19.00 | — | — | — | 13.77 | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 57.0% | 57.0% | 72.3% | 98.5% | 72.3% | 47.8% | 98.5% | 96.6% | 81.5% | 83.2% | 73.9% |
| Operating Margin | 24.7% | 24.7% | 53.7% | 75.6% | 40.3% | 2.6% | 65.9% | 68.8% | 88.3% | 85.5% | 78.6% |
| Net Profit Margin | 18.4% | 18.4% | 31.0% | 56.6% | 11.3% | -26.6% | 45.2% | 64.7% | 81.9% | 78.1% | 72.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.0% | 2.0% | 4.5% | 21.8% | 1.4% | -1.4% | 8.2% | 14.6% | 29.4% | 35.7% | 21.1% |
| ROA | 1.0% | 1.0% | 2.4% | 12.1% | 0.8% | -0.9% | 5.3% | 8.5% | 16.6% | 20.2% | 13.9% |
| ROIC | 1.2% | 1.2% | 3.9% | 14.5% | 2.4% | 0.1% | 6.5% | 8.0% | 15.6% | 21.2% | 14.6% |
| ROCE | 1.3% | 1.3% | 4.2% | 16.2% | 2.7% | 0.1% | 7.8% | 9.1% | 18.0% | 22.8% | 16.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.69 | 0.69 | 0.55 | 0.48 | 0.53 | 0.49 | 0.35 | 0.44 | 0.47 | 0.61 | 0.07 |
| Debt / EBITDA | 25.64 | 25.64 | 7.01 | 1.87 | 11.17 | 172.93 | 3.11 | 2.84 | 1.81 | 1.71 | 0.37 |
| Net Debt / Equity | — | 0.51 | 0.40 | 0.41 | 0.49 | 0.41 | 0.18 | 0.32 | 0.27 | 0.44 | -0.19 |
| Net Debt / EBITDA | 18.90 | 18.90 | 5.16 | 1.60 | 10.22 | 142.79 | 1.64 | 2.05 | 1.06 | 1.23 | -0.97 |
| Debt / FCF | — | — | 6.06 | — | — | — | 1.99 | — | — | — | — |
| Interest Coverage | 0.58 | 0.58 | 1.94 | 8.54 | 1.45 | 0.05 | 5.33 | -0.33 | 8.95 | 11.56 | 9.09 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.95 | 2.95 | 56.30 | 15.02 | 14.61 | 20.68 | 38.10 | 36.36 | 51.03 | 33.96 | 2.93 |
| Quick Ratio | 2.95 | 2.95 | 56.30 | 15.02 | 14.61 | 20.68 | 38.10 | 36.36 | 51.03 | 33.96 | 2.93 |
| Cash Ratio | 2.55 | 2.55 | 38.85 | 6.41 | 6.40 | 12.95 | 33.72 | 19.72 | 27.35 | 22.94 | 2.20 |
| Asset Turnover | — | 0.05 | 0.08 | 0.18 | 0.06 | 0.03 | 0.12 | 0.12 | 0.17 | 0.21 | 0.15 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.8% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 43.8% | 43.8% | 18.7% | 4.5% | 90.7% | — | — | 13.4% | 7.7% | 8.0% | 15.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.5% | 3.1% | 5.2% | 17.6% | 1.7% | — | 6.7% | 10.3% | 7.6% | — | — |
| FCF Yield | — | — | 7.7% | — | — | — | 8.5% | — | — | — | — |
| Buyback Yield | 1.6% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 4.5% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $225M | $219M | $223M | $219M | $219M | $220M | $220M | $211M | $208M | $205M |
Binary litigation settlement timing
According to current market data, Burford trades at a P/B ratio of 0.30, suggesting that investors are heavily discounting the company's tangible book value due to the inherent subjectivity and long-duration nature of its litigation-based assets compared to broader alternative asset management peers.
The absence of a meaningful forward P/E ratio indicates that the market struggles to price the company based on traditional earnings metrics, likely due to the extreme volatility of realized gains. This valuation gap suggests that investors are pricing in a significant risk premium for the potential impairment of Level 3 assets rather than rewarding the company for its historical growth.
Based on reported figures, ROIC has fluctuated between a peak of 2.5% in 2024Q3 and a negative 0.8% in 2025Q4, illustrating that the company's ability to compound capital is entirely dependent on the timing of successful case resolutions rather than consistent operational efficiency.
The erratic nature of ROE and ROIC trends suggests that Burford's capital allocation is not yet producing the stable, compounding returns expected of a mature asset manager. Investors should monitor whether the company can achieve a sustained positive spread over its cost of capital as the portfolio matures beyond its current concentration in mega-stakes litigation.
As reported in financial statements, the company's DSO has reached as high as 2920 days in 2025Q4, reflecting the extreme duration of legal finance investments and the structural inability to accelerate cash conversion cycles within the current court-dependent business model.
The lack of meaningful asset turnover, which remains near zero, confirms that Burford's revenue generation is not driven by high-velocity asset utilization but by the infrequent, lumpy resolution of complex legal claims. This extended cycle necessitates a cautious approach to liquidity management, as the firm remains tethered to the pace of the judicial system.
According to recent SEC filings, the interest coverage ratio has swung from a high of 6.04 in 2023Q4 to a negative 1.34 in 2025Q4, indicating that the company's ability to service its debt obligations is highly sensitive to the timing of litigation-related cash inflows.
While the reported debt-to-equity ratio of 0.69 appears manageable on the surface, the instability in interest coverage suggests that the company may face refinancing risks if major case resolutions are delayed. The reliance on debt to fund long-duration assets creates a structural mismatch that warrants further investigation into the firm's debt maturity profile.
As indicated by historical performance, the most commonly misapplied metric for Burford is the traditional P/E ratio, which fails to account for the non-cash fair value adjustments that dominate the company's net income and obscure the underlying cash-on-cash profitability of the litigation portfolio.
Investors should instead focus on realized cash returns and the velocity of capital deployments, as these metrics provide a clearer picture of underwriting success than accounting-based earnings. Relying on standard valuation multiples for this business model likely leads to a fundamental misunderstanding of the firm's true economic earning power.
Includes 30+ ratios · 15 years · Updated daily
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Quick answers to the most common questions about buying BUR stock.
Burford Capital Limited's current P/E ratio is 15.4x. The historical average is 21.8x. This places it at the 57th percentile of its historical range.
Burford Capital Limited's current EV/EBITDA is 30.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.0x.
Burford Capital Limited's return on equity (ROE) is 2.0%. The historical average is 11.8%.
Based on historical data, Burford Capital Limited is trading at a P/E of 15.4x. This is at the 57th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Burford Capital Limited's current dividend yield is 2.84% with a payout ratio of 43.8%.
Burford Capital Limited has 57.0% gross margin and 24.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Burford Capital Limited's Debt/EBITDA ratio is 25.6x, indicating high leverage. A ratio above 4x may signal elevated financial risk.