Latest Ratios: P/E Ratio 27.1x · EV/EBITDA 16.6x · ROE 38.4%. (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 | $16.2B | $19.0B | $18.3B | $12.4B | $15.1B | $16.1B | $16.4B | $14.6B | $11.8B | $8.6B | $6.0B |
| Enterprise Value | $21.0B | $23.7B | $22.7B | $16.3B | $19.0B | $19.5B | $19.7B | $17.9B | $12.7B | $9.5B | $7.1B |
| P/E Ratio → | 27.06 | 31.11 | 36.40 | 36.55 | 65.85 | 39.49 | — | 31.47 | 28.43 | 22.21 | 27.81 |
| P/S Ratio | 1.40 | 1.64 | 1.72 | 1.28 | 1.74 | 1.73 | 2.85 | 2.01 | 1.77 | 1.40 | 1.07 |
| P/B Ratio | 9.13 | 10.50 | 13.38 | 12.45 | 19.05 | 21.23 | 35.33 | 27.71 | 36.54 | 98.59 | — |
| P/FCF | 94.39 | 110.57 | — | 35.31 | 104.25 | 33.62 | — | 26.07 | 35.17 | 25.23 | 14.47 |
| P/OCF | 13.15 | 15.41 | 21.24 | 14.28 | 25.40 | 19.37 | 74.91 | 16.41 | 18.44 | 14.09 | 9.96 |
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 | — | 2.05 | 2.14 | 1.67 | 2.18 | 2.09 | 3.41 | 2.45 | 1.90 | 1.56 | 1.26 |
| EV / EBITDA | 16.61 | 18.80 | 21.38 | 19.05 | 29.04 | 19.17 | — | 21.53 | 16.21 | 13.89 | 12.36 |
| EV / EBIT | 24.82 | 26.77 | 30.52 | 29.93 | 50.74 | 31.83 | — | 28.29 | 22.48 | 19.58 | 18.11 |
| EV / FCF | — | 138.38 | — | 46.35 | 130.61 | 40.62 | — | 31.82 | 37.77 | 28.16 | 17.00 |
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 | 43.9% | 43.9% | 43.3% | 42.6% | 40.6% | 41.7% | 38.3% | 42.0% | 42.0% | 41.7% | 41.0% |
| Operating Margin | 7.3% | 7.3% | 6.7% | 5.6% | 4.4% | 8.2% | — | 8.5% | 8.5% | 8.0% | 6.9% |
| Net Profit Margin | 5.3% | 5.3% | 4.7% | 3.5% | 2.6% | 4.4% | -3.8% | 6.4% | 6.2% | 6.3% | 3.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 38.4% | 38.4% | 42.5% | 37.9% | 29.6% | 66.7% | -43.6% | 109.3% | 202.6% | 2082.4% | — |
| ROA | 6.5% | 6.5% | 6.1% | 4.5% | 3.2% | 5.9% | -3.5% | 10.7% | 14.1% | 14.3% | 8.4% |
| ROIC | 10.3% | 10.3% | 10.1% | 8.7% | 6.6% | 14.7% | — | 18.7% | 37.1% | 35.1% | 26.6% |
| ROCE | 11.9% | 11.9% | 11.7% | 9.9% | 7.3% | 15.0% | — | 20.8% | 32.0% | 29.7% | 23.6% |
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 | 3.32 | 3.32 | 3.92 | 4.82 | 5.92 | 5.86 | 9.98 | 6.87 | 3.06 | 12.99 | — |
| Debt / EBITDA | 4.76 | 4.76 | 5.06 | 5.62 | 7.19 | 4.38 | — | 4.38 | 1.26 | 1.64 | 1.98 |
| Net Debt / Equity | — | 2.64 | 3.19 | 3.89 | 4.82 | 4.42 | 7.01 | 6.11 | 2.71 | 11.45 | — |
| Net Debt / EBITDA | 3.78 | 3.78 | 4.12 | 4.54 | 5.86 | 3.30 | — | 3.89 | 1.12 | 1.45 | 1.84 |
| Debt / FCF | — | 27.81 | — | 11.04 | 26.36 | 7.00 | — | 5.75 | 2.61 | 2.93 | 2.53 |
| Interest Coverage | 12.49 | 12.49 | 10.71 | 6.94 | 5.63 | 9.08 | -3.48 | 12.42 | 10.07 | 8.30 | 6.93 |
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 | 1.23 | 1.23 | 1.16 | 1.15 | 1.19 | 1.31 | 1.49 | 0.97 | 1.02 | 0.98 | 0.93 |
| Quick Ratio | 0.65 | 0.65 | 0.61 | 0.61 | 0.58 | 0.78 | 1.05 | 0.44 | 0.25 | 0.31 | 0.23 |
| Cash Ratio | 0.55 | 0.55 | 0.44 | 0.46 | 0.46 | 0.56 | 0.82 | 0.28 | 0.09 | 0.12 | 0.08 |
| Asset Turnover | — | 1.17 | 1.21 | 1.26 | 1.20 | 1.31 | 0.85 | 1.30 | 2.17 | 2.17 | 2.17 |
| Inventory Turnover | 4.94 | 4.94 | 4.82 | 5.13 | 4.38 | 5.32 | 4.80 | 5.44 | 4.05 | 4.73 | 4.70 |
| Days Sales Outstanding | — | 3.32 | 3.02 | 2.79 | 2.98 | 2.12 | 3.94 | 4.58 | 3.22 | 4.28 | 2.82 |
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 | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.7% | 3.2% | 2.7% | 2.7% | 1.5% | 2.5% | — | 3.2% | 3.5% | 4.5% | 3.6% |
| FCF Yield | 1.1% | 0.9% | — | 2.8% | 1.0% | 3.0% | — | 3.8% | 2.8% | 4.0% | 6.9% |
| Buyback Yield | 1.7% | 1.5% | 1.4% | 2.0% | 2.1% | 1.7% | 0.4% | 2.2% | 1.9% | 3.4% | 3.4% |
| Total Shareholder Yield | 1.7% | 1.5% | 1.4% | 2.0% | 2.1% | 1.7% | 0.4% | 2.2% | 1.9% | 3.4% | 3.4% |
| Shares Outstanding | — | $64M | $65M | $65M | $66M | $68M | $66M | $67M | $69M | $70M | $72M |
Includes 30+ ratios · 15 years · Updated daily
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Quick answers to the most common questions about buying BURL stock.
Burlington Stores, Inc.'s current P/E ratio is 27.1x. The historical average is 36.7x. This places it at the 18th percentile of its historical range.
Burlington Stores, Inc.'s current EV/EBITDA is 16.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.6x.
Burlington Stores, Inc.'s return on equity (ROE) is 38.4%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 60.4%.
Based on historical data, Burlington Stores, Inc. is trading at a P/E of 27.1x. This is at the 18th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Burlington Stores, Inc. has 43.9% gross margin and 7.3% operating margin.
Burlington Stores, Inc.'s Debt/EBITDA ratio is 4.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Leverage constrains expansion
Metrics are mathematically derived from official filings.
Premium Valuation Reflects Margin Expansion Hope
Burlington's forward P/E of 27.12 and EV/EBITDA of 16.18 appear to price in significant margin expansion, as the company trades at a discount to Ross Stores' 34.90 P/E but at a premium to Ollie's 19.68 P/E, suggesting the market is betting on a successful 'Burlington 2.0' execution.
The valuation multiples indicate the market is assigning a growth premium to Burlington, likely predicated on the company closing the operating margin gap with peers like Ross and TJX. However, the current P/E of 27.90 is elevated relative to the company's own historical ROIC of ~2-5%, suggesting the multiple may be vulnerable if the margin expansion narrative falters. The significant discount to Ross Stores' valuation may reflect the market's lingering skepticism about Burlington's ability to achieve similar operational efficiency and scale.
Gross Margin Expansion Drives Operating Leverage
Gross margin expanded to 46.2% in 2026Q2, a significant improvement from the 42.9% low in 2024Q2, indicating enhanced pricing power and favorable product mix shifts within the off-price model, while operating margin has expanded from 4.3% to 8.4% over the same period.
The gross margin expansion appears to be the primary driver of improved profitability, suggesting the company is achieving better procurement terms or a more favorable sales mix. However, the operating margin of 8.4% remains structurally below the ~12% levels of TJX and Ross, indicating that store-level labor and occupancy costs continue to consume a significant portion of gross profit. The net margin of 6.1% in 2026Q2, while improved, still lags peers, suggesting that interest expense from the high debt load is a meaningful drag on bottom-line profitability.
Low Returns on Capital Despite Margin Improvement
ROIC of 2.7% in 2026Q2, while improved from the 1.6% low in 2024Q2, remains significantly below the cost of capital and peer averages, suggesting that the company's aggressive store expansion and high asset base are not yet generating adequate returns.
The ROIC trend shows improvement but remains at levels that would typically be considered value-destructive, indicating that the company's capital-intensive store footprint and high leverage are diluting returns. The ROE of 9.6% is heavily amplified by the high debt-to-equity ratio of 2.95, masking the underlying weakness in asset returns. This suggests that while operational metrics are improving, the company's capital structure is preventing it from translating those improvements into superior returns for equity holders.
Inventory Velocity Critical to Model Viability
Days Inventory Outstanding of 84 in 2026Q2, while elevated, is consistent with the company's seasonal pattern and off-price model, but the Cash Conversion Cycle of 27 days indicates that working capital management remains a key operational challenge.
The inventory turnover pattern shows significant seasonality, with DIO peaking in Q1 and Q3 quarters, which is typical for a retailer with a cold-weather legacy. The relatively stable DSO of 3-4 days suggests efficient receivables collection, while DPO of 61 days indicates the company has moderate supplier leverage. The CCC of 27 days is manageable but higher than some peers, suggesting that Burlington's smaller scale may limit its ability to negotiate more favorable payment terms or achieve the same inventory velocity as larger competitors.
Elevated Leverage Constrains Financial Flexibility
The debt-to-equity ratio of 2.95, while improved from 4.67 two years ago, remains significantly higher than peers like TJX (1.32) and Ross (0.84), suggesting that Burlington's capital structure is more vulnerable to interest rate movements and credit market conditions.
The interest coverage ratio of 13.32 in 2026Q2 appears adequate, but this metric can be volatile given the company's seasonal earnings pattern and the high D/EBITDA of 16.16. The leverage profile suggests that Burlington has limited capacity for additional debt-funded expansion without potentially compromising its credit profile. The improvement in leverage over the past two years is encouraging, but the absolute level remains a constraint on strategic flexibility and may limit the company's ability to weather a significant demand downturn.
Operating Margin Gap May Be Structural
The single ratio most commonly misapplied to Burlington is the operating margin comparison to peers, as the 300-500 basis point gap to Ross and TJX may reflect structural differences in scale, supply chain automation, and store format rather than temporary inefficiency.
Analysts often use operating margin as the primary metric to gauge Burlington's progress toward peer-like efficiency, but this comparison may be misleading. Burlington's smaller scale, less automated supply chain, and higher-touch inventory processing model create a structural cost disadvantage that may not be fully closed through the 'Burlington 2.0' initiative. A more appropriate metric might be gross margin return on invested capital (GMROIC), which would better capture how effectively the company is using its inventory investment to generate profit, accounting for its unique off-price procurement model.