Latest Ratios: P/E Ratio 12.8x · EV/EBITDA 28.3x · 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 | $786M | $2.0B | $2.8B | $3.5B | $1.8B | $2.3B | $2.1B | $2.1B | $4.2B | — | — |
| Enterprise Value | $2.4B | $3.6B | $4.1B | $4.8B | $2.9B | $3.2B | $2.5B | $2.5B | $4.6B | — | — |
| P/E Ratio → | 12.82 | 31.86 | 19.32 | 5.69 | 58.21 | — | 14.88 | 9.67 | 13.19 | — | — |
| P/S Ratio | 4.06 | 10.34 | 8.20 | 3.53 | 9.11 | 44.77 | 7.65 | 7.12 | 12.03 | — | — |
| P/B Ratio | 0.26 | 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 | — | 18.53 | 12.03 | 4.89 | 15.03 | 61.30 | 8.94 | 8.81 | 13.10 | — | — |
| EV / EBITDA | 28.26 | 42.74 | 16.19 | 5.80 | 25.93 | 529.48 | 11.32 | 10.70 | 12.97 | — | — |
| EV / EBIT | 28.26 | 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 | 100.0% | 100.0% | 100.0% | 107.9% | 100.0% | 100.0% | 112.3% | 109.4% | 90.5% | 89.8% | 81.3% |
| Operating Margin | 43.4% | 43.4% | 74.3% | 82.9% | 55.7% | 5.4% | 75.1% | 78.0% | 98.1% | 92.2% | 86.4% |
| Net Profit Margin | 32.3% | 32.3% | 42.9% | 62.0% | 15.6% | -55.6% | 51.6% | 73.3% | 91.0% | 84.3% | 80.0% |
| 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 | — | 0.03 | 0.06 | 0.17 | 0.05 | 0.01 | 0.10 | 0.11 | 0.15 | 0.20 | 0.14 |
| 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 | 3.4% | 1.4% | 1.0% | 0.8% | 1.6% | 1.8% | — | 1.4% | 0.6% | — | — |
| 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 | 7.8% | 3.1% | 5.2% | 17.6% | 1.7% | — | 6.7% | 10.3% | 7.6% | — | — |
| FCF Yield | — | — | 7.7% | — | — | — | 8.5% | — | — | — | — |
| Buyback Yield | 1.9% | 0.8% | 0.2% | 0.1% | 0.5% | 0.2% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 5.3% | 2.1% | 1.2% | 0.9% | 2.0% | 1.9% | 0.0% | 1.4% | 0.6% | — | — |
| Shares Outstanding | — | $225M | $219M | $223M | $219M | $219M | $220M | $220M | $211M | $208M | $205M |
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 12.8x. The historical average is 21.8x. This places it at the 29th percentile of its historical range.
Burford Capital Limited's current EV/EBITDA is 28.3x. 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 12.8x. This is at the 29th 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 3.40% with a payout ratio of 43.8%.
Burford Capital Limited has 100.0% gross margin and 43.4% 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.
Key Metrics
Top Statement Risk
Lumpy realizations and YPF concentration
Metrics are mathematically derived from official filings.
Discount to Book Reflects Earnings Doubt
Based on reported figures, BUR trades at 0.26x book value and a 12.82 trailing P/E, a combination that suggests the market is pricing its tangible equity with heavy skepticism about the durability of realized gains.
The P/B of 0.26 sits far below the 6.10 tangible book value per share implied by the ratio table at the latest quarter, which signals either a severe data inconsistency or a very deep discount to reported equity that warrants verification before any conclusion is drawn. The trailing P/E of 12.82 looks modest only because it is anchored to a few strong quarters, while the absence of a reported forward P/E and the 2026Q2 ROE of -70.9% suggest earnings are too volatile for multiples to be read at face value. Investors should treat the valuation as a bet on fair-value marks and case resolutions rather than on a stable return on tangible equity.
ROE Swings Driven by Fair Value Marks
As reported in financial statements, BUR's ROE moved from 4.2% in 2024Q3 to -70.9% in 2026Q2 before recovering to 2.3% in 2026Q4, a pattern that points to non-cash revaluation rather than steady operating earnings.
The ROA trajectory of -29.9% in 2026Q2 against 0.8% in the latest quarter, with an equity-to-assets ratio near 0.36, indicates that leverage is modest and that the ROE swings are overwhelmingly a function of asset-side marks rather than balance sheet gearing. Because the DuPont inputs of net interest margin are negative or unreported and fee share exceeds 100% in several quarters, the conventional bank decomposition breaks down and profitability quality cannot be cleanly separated into spread and fee components. This suggests the reported ROE of 2.3% should be viewed as an unstable output rather than a run-rate return.
Net Interest Margin Not a Meaningful Driver
Based on EDBL's reported figures, BUR's NIM remained negative at roughly -0.5% to -1.1% across the period, and the efficiency ratio ranged from 2.3% to 40.3%, underscoring that spread-based metrics do not describe this business.
A negative NIM is consistent with a litigation-finance model that carries funding costs against assets that generate returns only on resolution, so the net interest margin framework offers little insight into operating quality. The efficiency ratio's wide range, including a 2.3% reading in 2025Q3 and 40.3% in 2025Q1, reflects revenue timing rather than cost discipline, which suggests cost control should be assessed against realization volumes instead. Investors should not benchmark BUR against bank efficiency norms without adjusting for this structural mismatch.
Equity Cushion Thins Under Volatile Earnings
According to recent SEC filings, BUR's equity-to-assets ratio declined from about 0.53 in 2024Q4 to 0.36 in 2026Q4, a reduction that leaves less buffer against further fair-value losses.
Regulatory capital ratios such as CET1 and Tier 1 are not applicable to BUR as a non-bank, so the equity-to-assets trajectory is the most relevant proxy for capacity to absorb losses. The contraction from roughly 0.53 to 0.36 reflects both shrinking total assets and the large 2026Q2 loss, which together suggest the cushion is being consumed faster than the 2.3% ROE can rebuild it. Investors should monitor whether further write-downs erode equity below levels needed to support new commitments.
Tangible Book Multiple Overstates Safety
Based on reported figures, the 0.26x P/B and 6.10 tangible book per share may appear to offer a margin of safety, but this metric obscures that the underlying equity is dominated by unrealized fair-value estimates that could reverse.
The most commonly misapplied metric for BUR is P/B or P/TBV, because book value is built largely from Level 3 estimates of ongoing litigation rather than from cash or readily marketable assets. A low multiple on such a base can be a trap if the marks prove optimistic, which the 2026Q2 net loss illustrates. A more appropriate lens would be cash-adjusted book value that haircuts unrealized gains, with realized cash returns over trailing periods used as the primary valuation check.