Burford Capital Ltd
LSE:BUR
Income Statement
Earnings Waterfall
Burford Capital Ltd
Income Statement
Burford Capital Ltd
| Jun-2012 | Dec-2012 | Jun-2013 | Dec-2013 | Jun-2014 | Dec-2014 | Jun-2015 | Dec-2015 | Jun-2016 | Dec-2016 | Jun-2017 | Dec-2017 | Jun-2018 | Dec-2018 | Jun-2019 | Dec-2019 | Jun-2020 | Dec-2020 | Jun-2021 | Dec-2021 | Jun-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | Dec-2024 | Mar-2025 | Jun-2025 | Sep-2025 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||||||||||||||||||||||||
| Interest Expense |
0
|
0
|
0
|
0
|
0
|
4
|
0
|
9
|
0
|
14
|
0
|
24
|
0
|
37
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
20
|
40
|
67
|
95
|
106
|
119
|
125
|
131
|
99
|
99
|
106
|
|
| Revenue |
27
N/A
|
54
+99%
|
60
+11%
|
61
+1%
|
69
+13%
|
82
+20%
|
95
+16%
|
103
+8%
|
139
+35%
|
163
+18%
|
263
+61%
|
343
+30%
|
373
+9%
|
425
+14%
|
514
+21%
|
370
-28%
|
330
-11%
|
328
-1%
|
197
-40%
|
218
+11%
|
231
+6%
|
319
+38%
|
700
+119%
|
639
-9%
|
1 008
+58%
|
1 087
+8%
|
750
-31%
|
865
+15%
|
746
-14%
|
546
-27%
|
621
+14%
|
652
+5%
|
473
-27%
|
|
| Gross Profit | ||||||||||||||||||||||||||||||||||
| Cost of Revenue |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(4)
|
(4)
|
(1)
|
(1)
|
(2)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Gross Profit |
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
172
N/A
|
339
+97%
|
372
+10%
|
424
+14%
|
512
+21%
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
|
| Operating Income | ||||||||||||||||||||||||||||||||||
| Operating Expenses |
(18)
|
(31)
|
(34)
|
(29)
|
(30)
|
(31)
|
(28)
|
(26)
|
(28)
|
(39)
|
(51)
|
(64)
|
(66)
|
(76)
|
(96)
|
(87)
|
(102)
|
(106)
|
(151)
|
(143)
|
(112)
|
(116)
|
(164)
|
(153)
|
(202)
|
(255)
|
(236)
|
(242)
|
(235)
|
(155)
|
(164)
|
(171)
|
(165)
|
|
| Selling, General & Administrative |
0
|
(20)
|
0
|
(18)
|
0
|
(21)
|
0
|
(26)
|
0
|
(39)
|
0
|
(52)
|
0
|
(66)
|
0
|
(77)
|
0
|
(98)
|
(181)
|
(143)
|
(112)
|
(116)
|
(164)
|
(153)
|
(202)
|
(255)
|
(236)
|
0
|
0
|
(155)
|
(79)
|
(124)
|
(165)
|
|
| Depreciation & Amortization |
(6)
|
(11)
|
(12)
|
(11)
|
(11)
|
(10)
|
(4)
|
0
|
0
|
(0)
|
(6)
|
(12)
|
(11)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Other Operating Expenses |
(13)
|
0
|
(22)
|
0
|
(17)
|
0
|
(24)
|
0
|
(28)
|
0
|
(45)
|
0
|
(56)
|
0
|
(87)
|
0
|
(92)
|
0
|
30
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(242)
|
(235)
|
0
|
(85)
|
(47)
|
0
|
|
| Operating Income |
9
N/A
|
23
+150%
|
26
+15%
|
31
+19%
|
39
+25%
|
51
+30%
|
67
+31%
|
77
+15%
|
111
+43%
|
124
+12%
|
208
+67%
|
275
+32%
|
306
+11%
|
348
+14%
|
415
+19%
|
283
-32%
|
228
-19%
|
222
-3%
|
45
-80%
|
74
+64%
|
119
+61%
|
203
+70%
|
536
+164%
|
486
-9%
|
805
+66%
|
832
+3%
|
514
-38%
|
624
+21%
|
510
-18%
|
391
-23%
|
457
+17%
|
482
+5%
|
308
-36%
|
|
| Pre-Tax Income | ||||||||||||||||||||||||||||||||||
| Interest Income Expense |
4
|
6
|
8
|
0
|
0
|
(4)
|
(8)
|
(9)
|
(10)
|
(14)
|
(18)
|
(25)
|
(32)
|
(42)
|
(38)
|
(49)
|
(38)
|
(36)
|
(34)
|
(64)
|
(76)
|
(85)
|
(101)
|
(74)
|
(92)
|
(73)
|
(88)
|
(111)
|
(126)
|
(132)
|
(136)
|
(133)
|
(140)
|
|
| Non-Reccuring Items |
0
|
(12)
|
(47)
|
(29)
|
0
|
0
|
0
|
0
|
0
|
(6)
|
(6)
|
0
|
0
|
0
|
(3)
|
(7)
|
(1)
|
(5)
|
(9)
|
(7)
|
(7)
|
(9)
|
(15)
|
(15)
|
(19)
|
(16)
|
(11)
|
0
|
0
|
(1)
|
(2)
|
(7)
|
(10)
|
|
| Total Other Income |
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
0
|
(0)
|
0
|
(2)
|
0
|
(2)
|
(2)
|
(3)
|
(5)
|
(5)
|
(4)
|
(2)
|
(5)
|
(1)
|
(2)
|
(4)
|
|
| Pre-Tax Income |
13
N/A
|
17
+27%
|
(12)
N/A
|
2
N/A
|
39
+1 762%
|
47
+21%
|
59
+24%
|
68
+15%
|
100
+47%
|
104
+4%
|
183
+76%
|
249
+36%
|
273
+10%
|
305
+12%
|
373
+22%
|
226
-40%
|
187
-17%
|
180
-4%
|
1
-99%
|
3
+130%
|
34
+1 134%
|
109
+217%
|
418
+283%
|
395
-5%
|
692
+75%
|
738
+7%
|
411
-44%
|
509
+24%
|
382
-25%
|
254
-34%
|
317
+25%
|
340
+7%
|
154
-55%
|
|
| Net Income | ||||||||||||||||||||||||||||||||||
| Tax Provision |
0
|
0
|
0
|
1
|
0
|
(1)
|
(1)
|
(2)
|
(5)
|
5
|
6
|
0
|
4
|
12
|
4
|
(13)
|
(44)
|
(24)
|
1
|
(10)
|
(18)
|
(12)
|
(19)
|
(20)
|
(19)
|
(20)
|
(12)
|
(14)
|
(26)
|
(24)
|
(33)
|
(26)
|
(18)
|
|
| Income from Continuing Operations |
14
|
17
|
(12)
|
3
|
39
|
47
|
58
|
66
|
95
|
109
|
189
|
249
|
277
|
318
|
377
|
212
|
143
|
157
|
2
|
(7)
|
16
|
97
|
399
|
375
|
672
|
718
|
399
|
495
|
356
|
230
|
284
|
314
|
136
|
|
| Income to Minority Interest |
0
|
0
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(14)
|
(17)
|
(22)
|
(38)
|
(67)
|
(109)
|
(85)
|
(110)
|
(108)
|
(78)
|
(98)
|
(96)
|
(83)
|
(77)
|
(72)
|
(49)
|
|
| Net Income (Common) |
14
N/A
|
17
+27%
|
(12)
N/A
|
3
N/A
|
39
+1 385%
|
45
+18%
|
57
+25%
|
64
+13%
|
94
+45%
|
108
+16%
|
189
+75%
|
249
+32%
|
277
+11%
|
318
+15%
|
377
+19%
|
212
-44%
|
143
-33%
|
143
+0%
|
(15)
N/A
|
(29)
-93%
|
(22)
+25%
|
31
N/A
|
290
+850%
|
290
0%
|
562
+94%
|
611
+9%
|
321
-47%
|
396
+23%
|
260
-35%
|
146
-44%
|
207
+42%
|
242
+17%
|
87
-64%
|
|
| EPS (Diluted) |
0.08
N/A
|
0.1
+25%
|
-0.05
N/A
|
0.01
N/A
|
0.19
+1 800%
|
0.22
+16%
|
0.28
+27%
|
0.32
+14%
|
0.46
+44%
|
0.53
+15%
|
0.91
+72%
|
1.2
+32%
|
1.33
+11%
|
1.51
+14%
|
1.74
+15%
|
0.97
-44%
|
0.65
-33%
|
0.65
N/A
|
-0.07
N/A
|
-0.13
-86%
|
-0.1
+23%
|
0.14
N/A
|
1.3
+829%
|
1.32
+2%
|
2.53
+92%
|
2.74
+8%
|
1.46
-47%
|
1.77
+21%
|
1.16
-34%
|
0.66
-43%
|
0.93
+41%
|
1.08
+16%
|
0.39
-64%
|
|