Burford Capital Limited (BUR) Balance Sheet
BUR balance sheet, 2025
December 31, 2025 · U.S. dollars$6.64B assets = $3.51B liabilities + $3.13B equity
Both columns are drawn to the same scale: what BUR owns equals what it owes plus shareholders’ equity. Hover a block for its value.
BUR financial health
Descriptive bands, not a rating. Fiscal 2025.
BUR balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $968.2M2016 | $6.64B2025 | +23.9%/yr | |
| Total liabilities | $372.1M2016 | $3.51B2025 | +28.3%/yr | |
| Shareholders’ equity | $596.2M2016 | $2.45B2025 | +17.0%/yr | |
| Cash & short-term investments | $158.4M2016 | $655.9M2025 | +17.1%/yr | |
| Total debt | $43.8M2016 | $2.15B2025 | +54.2%/yr | |
| Net cash (debt) | $114.6M2016 | −$1.50B2025 | −$1.6B | |
| Working capital | $138.9M2016 | $434.0M2025 | +$295.0M | |
| Book value per share | $2.912016 | $10.902025 | +15.8%/yr | |
| Current ratio | 2.932016 | 2.952025 | +0.02 | |
| Debt / equity | 0.072016 | 0.882025 | +0.81 | |
| Shares outstanding | 204.7M2016 | 224.6M2025 | +1.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BUR assets
BUR liabilities and equity
BUR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
BUR balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $655.9M | $469.9M | $220.5M | $107.7M | $180.3M | $322.2M | $186.6M | $265.6M | $135.4M | $158.4M |
| Cash & equivalents | $566.4M | $469.9M | $220.5M | $107.7M | $180.3M | $322.2M | $186.6M | $265.6M | $135.4M | $158.4M |
| Short-term investments | $89.5M | $79.0M | $107.6M | $136.4M | $175.3M | $16.6M | $69.3M | $41.4M | $39.9M | $11.1M |
| Receivables | $186.9M | $201.0M | $287.1M | $137.8M | $106.4M | $27.0M | $53.6M | $167.0M | $4.3M | $19.2M |
| Inventory | $0 | $0 | $1 | $1 | −$23.4M | −$24.3M | $1 | $1 | −$44.7M | $1 |
| Other current assets | $0 | $10.2M | $9.1M | $198,999 | $24.6M | $39.2M | $103.8M | $62.8M | $105.3M | $33.3M |
| Total current assets | $655.9M | $681.1M | $516.8M | $245.7M | $287.9M | $364.1M | $344.0M | $495.4M | $200.4M | $210.9M |
| Property, plant & equipment (net) | $14.3M | $16.2M | $17.4M | $14.0M | $13.1M | $14.6M | $20.2M | $1.9M | $2.4M | $2.2M |
| Goodwill & intangible assets | $134.0M | $133.9M | $134.2M | $133.9M | $134.3M | $134.0M | $142.7M | $152.2M | $161.7M | $173.3M |
| Long-term investments | $5.71B | $5.32B | $5.15B | $3.87B | $3.08B | $2.19B | $2.12B | $1.64B | $1.12B | $570.8M |
| Other non-current assets | $128.7M | $20.8M | $16.1M | $22.8M | $230.5M | $22.9M | $29.9M | $31.0M | $12.9M | $11.1M |
| Total assets | $6.64B | $6.18B | $5.84B | $4.29B | $3.74B | $2.73B | $2.65B | $2.32B | $1.50B | $968.2M |
| Liabilities | ||||||||||
| Accounts payable | $60.0M | $12.1M | $34.4M | $16.8M | $13.9M | $9.6M | $9.5M | $9.3M | $5.9M | $72.0M |
| Short-term debt | $222.0M | $3.2M | $2.5M | $2.1M | $1.02B | $667.8M | $655.9M | — | — | — |
| Deferred revenue | — | — | — | $14.7M | −$1.01B | −$658.3M | −$646.4M | −$629.0M | −$481.0M | −$202.0M |
| Total current liabilities | $222.0M | $12.1M | $34.4M | $16.8M | $13.9M | $9.6M | $9.5M | $9.7M | $5.9M | $72.0M |
| Long-term debt | $0 | $0 | $0 | $0 | $1.03B | $681.3M | $675.3M | $638.7M | $486.9M | $274.0M |
| Other long-term liabilities | $3.30B | $2.91B | $2.60B | $1.88B | $585.1M | $0 | $0 | $0 | $0 | $0 |
| Total liabilities | $3.51B | $2.92B | $2.63B | $1.90B | $1.63B | $1.03B | $1.12B | $955.8M | $5.9M | $372.1M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $615.5M | $610.0M | $602.2M | $598.8M | $598.8M | $598.8M | $596.5M | $596.5M | $351.2M | $351.2M |
| Retained earnings (deficit) | $1.80B | $1.77B | $1.65B | $1.07B | $1.07B | $1.14B | $899.1M | $716.2M | $423.2M | $193.8M |
| Accumulated other comprehensive income | −$199,000 | $10.1M | $7.3M | $47.0M | $2.9M | $5.1M | $37.5M | $50.5M | $24.1M | $51.1M |
| Minority interest | $679.7M | $837.4M | $916.9M | $644.5M | — | — | — | — | — | — |
| Total shareholders' equity | $2.45B | $2.42B | $2.29B | $1.74B | $1.70B | $1.70B | $1.53B | $1.36B | $798.6M | $596.2M |
| Key figures | ||||||||||
| Total debt | $2.15B | $1.78B | $1.55B | $1.27B | $1.03B | $681.3M | $675.3M | $638.7M | $486.9M | $43.8M |
| Net cash (debt) | −$1.50B | −$1.31B | −$1.33B | −$1.16B | −$854.2M | −$359.1M | −$488.6M | −$373.1M | −$351.5M | $114.6M |
| Working capital | $434.0M | $669.0M | $482.4M | $228.9M | $273.9M | $354.5M | $334.6M | $485.7M | $194.5M | $138.9M |
| Tangible book value | $2.31B | $2.29B | $2.16B | $1.61B | $1.56B | $1.57B | $1.39B | $1.21B | $636.9M | $422.8M |
| Book value per share | $10.90 | $11.03 | $10.27 | $7.97 | $7.74 | $7.74 | $6.98 | $6.47 | $3.83 | $2.91 |
| Shares outstanding | 224.6M | 219.4M | 223.0M | 218.6M | 219.0M | 219.6M | 219.6M | 210.8M | 208.4M | 204.7M |
| Current ratio | 2.95 | 56.30 | 15.02 | 14.61 | 20.68 | 38.10 | 36.36 | 51.03 | 33.96 | 2.93 |
| Quick ratio | 3.80 | 55.46 | 14.75 | 14.60 | 20.60 | 36.54 | 25.39 | 44.56 | 23.68 | 2.47 |
| Debt / equity | 0.88 | 0.74 | 0.68 | 0.73 | 0.61 | 0.40 | 0.44 | 0.47 | 0.61 | 0.07 |
| Equity / assets | 36.9% | 39.2% | 39.2% | 40.6% | 45.3% | 62.3% | 57.8% | 58.8% | 53.3% | 61.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $747.3M | $702.6M | $655.9M | $677.7M | $372.2M | $486.6M | $469.9M | $574.0M | $483.6M | $585.1M | $220.5M | $255.6M |
| Cash & equivalents | $696.9M | $702.6M | $566.4M | $677.7M | $372.2M | $486.6M | $469.9M | $574.0M | $390.7M | $482.3M | $220.5M | $255.6M |
| Short-term investments | $50.4M | — | $89.5M | $79.1M | $84.3M | $83.5M | $79.0M | $75.8M | $92.9M | $102.8M | $107.6M | $106.9M |
| Receivables | $113.1M | $0 | $186.9M | $0 | $118.5M | $102.6M | $201.0M | $64.5M | $178.4M | $131.6M | $287.1M | $71.3M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 | $433.6M |
| Other current assets | $0 | — | $0 | $0 | $0 | $0 | $10.2M | $0 | $0 | $0 | $9.1M | $0 |
| Total current assets | $747.3M | — | $655.9M | $677.7M | $490.7M | $589.3M | $681.1M | $638.5M | $662.0M | −$1 | $516.8M | $326.9M |
| Property, plant & equipment (net) | $0 | $0 | $14.3M | $0 | $0 | $0 | $16.2M | $0 | $0 | $0 | $17.4M | $5.14B |
| Goodwill & intangible assets | $134.0M | $134.0M | $134.0M | $134.0M | $134.0M | $134.0M | $133.9M | $134.0M | $134.0M | $133.9M | $134.2M | $134.1M |
| Long-term investments | $3.24B | $3.17B | $5.71B | $5.69B | $5.63B | $5.39B | $5.32B | $5.43B | $0 | $0 | $5.15B | $5.00B |
| Other non-current assets | $155.8M | $963.0M | $128.7M | $179.4M | $73.1M | $69.0M | $20.8M | $70.3M | $5.32B | $5.87B | $16.1M | $0 |
| Total assets | $4.27B | $4.27B | $6.64B | $6.69B | $6.33B | $6.18B | $6.18B | $6.27B | $6.12B | $6.01B | $5.84B | $5.53B |
| Liabilities | ||||||||||||
| Accounts payable | $78.2M | $55.0M | $60.0M | $50.5M | $45.2M | $43.0M | $12.1M | $41.3M | — | — | $34.4M | $37.5M |
| Short-term debt | — | — | $222.0M | — | $122.8M | — | $3.2M | — | — | — | $2.5M | $2.5M |
| Total current liabilities | $142.2M | — | $368.5M | $350.8M | $45.2M | $43.0M | $12.1M | $41.3M | $43.9M | — | $34.4M | $37.5M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $2.66B | — | $3.14B | $3.15B | $3.05B | $2.98B | $2.91B | $2.94B | $2.84B | $6.01B | $2.60B | $1.52B |
| Total liabilities | $2.80B | $2.76B | $3.51B | $3.50B | $3.10B | $3.02B | $2.92B | $2.98B | $2.89B | $2.88B | $2.63B | $2.49B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $624.7M | — | $615.5M | $614.8M | $614.7M | $610.0M | $610.0M | $610.0M | $609.9M | $601.8M | $602.2M | $598.8M |
| Retained earnings (deficit) | $157.2M | $168.8M | $1.80B | $1.85B | $1.87B | $1.80B | $1.77B | $1.79B | $1.66B | $1.62B | $1.65B | $1.57B |
| Accumulated other comprehensive income | $12.1M | — | −$199,000 | $554,000 | −$2.1M | — | $10.1M | — | $8.6M | $8.7M | $7.3M | $13.1M |
| Minority interest | $649.3M | $685.7M | $679.7M | $691.2M | $725.4M | — | — | — | — | — | — | — |
| Total shareholders' equity | $819.1M | $827.9M | $2.45B | $2.50B | $2.50B | $2.43B | $2.42B | $2.43B | $2.30B | $2.26B | $2.29B | $2.21B |
| Key figures | ||||||||||||
| Total debt | $2.42B | — | $2.15B | $2.16B | $1.79B | $1.78B | $1.78B | $1.79B | $1.79B | $1.81B | $1.55B | $1.52B |
| Net cash (debt) | −$1.67B | — | −$1.50B | −$1.48B | −$1.42B | −$1.29B | −$1.31B | −$1.22B | −$1.31B | −$1.23B | −$1.33B | −$1.27B |
| Working capital | $605.0M | — | $287.4M | $326.9M | $445.5M | $546.3M | $669.0M | $597.2M | $618.1M | — | $482.4M | $289.4M |
| Tangible book value | $685.1M | $693.9M | $2.31B | $2.36B | $2.37B | $2.30B | $2.29B | $2.30B | $2.17B | $2.13B | $2.16B | $2.07B |
| Book value per share | $3.64 | $3.78 | $11.18 | $11.39 | $11.18 | $10.91 | $10.84 | $10.88 | $10.31 | $10.32 | $10.22 | $9.91 |
| Shares outstanding | 225.1M | 219.1M | 218.9M | 219.3M | 224.0M | 223.1M | 223.2M | 223.6M | 223.4M | 218.9M | 224.1M | 222.9M |
| Current ratio | 5.25 | — | 1.78 | 1.93 | 10.85 | 13.71 | 56.30 | 15.47 | 15.07 | — | 15.02 | 8.72 |
| Quick ratio | 6.05 | — | 2.29 | 1.93 | 10.85 | 13.71 | 55.46 | 15.47 | 15.07 | — | 14.75 | 8.72 |
| Debt / equity | 2.95 | — | 0.88 | 0.86 | 0.72 | 0.73 | 0.74 | 0.74 | 0.78 | 0.80 | 0.68 | 0.69 |
| Equity / assets | 19.2% | 19.4% | 36.9% | 37.3% | 39.6% | 39.4% | 39.2% | 38.8% | 37.6% | 37.6% | 39.2% | 40.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 26, 2026); data from EODHD.
BUR financial position
At the end of fiscal 2025 (December 31, 2025), Burford Capital had total assets of $6.6 billion (up 7.5% from a year earlier), total liabilities of $3.5 billion and shareholders' equity of $2.4 billion. It held $655.9 million in cash and short-term investments against $2.2 billion of debt, net debt of $1.5 billion. Its current ratio was 2.95. In the latest quarter (ended June 30, 2026) total assets were $4.3 billion and equity $819.1 million.
Related: BUR income statement, BUR cash flow statement, BUR key metrics. See the BUR stock overview for the latest quote and news.
BUR balance sheet FAQ
What are Burford Capital's total assets?
Burford Capital reported total assets of $6.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $6.2 billion a year earlier.
How much debt does Burford Capital have?
Burford Capital had $2.2 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.88.
How much cash does Burford Capital have?
Burford Capital held $655.9 million in cash and short-term investments at the end of fiscal 2025; with $2.2 billion of debt that is net debt of $1.5 billion.
What is Burford Capital's book value?
Burford Capital's shareholders' equity (book value) was $2.4 billion at the end of fiscal 2025, or $10.90 per share.
What is Burford Capital's current ratio?
Burford Capital had current assets of $655.9 million and current liabilities of $222.0 million, a current ratio of 2.95 (it can cover its short-term obligations).
How much goodwill does Burford Capital have?
Burford Capital carried $134.0 million of goodwill and intangible assets, 2.0% of total assets, at the end of fiscal 2025.