Burford Capital Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	72.19	229.58	718.2	97.46	-6.94
Depreciation & Amortization	-	-	-	-	3.19
Stock-Based Compensation	13.84	8.69	8.75	7.78	8.82
Other Adjustments	-467.78	-567.73	-1,354	-280.27	-183.77
Changes in Other Operating Activities	352.74	546.19	352.05	-291.08	-406.67
Operating Cash Flow	-29.01	216.73	-274.68	-466.1	-585.36
Capital Expenditures	-0.28	-0.66	-3.21	-0.41	-0.29
Other Investing Activities	-8.52	-	-	-	-
Investing Cash Flow	-8.8	-0.66	-3.21	-0.41	-0.29
Long-Term Debt Issued	500	284.97	394.46	357.27	400
Long-Term Debt Repaid	-157.58	-56.1	-138.43	-87.82	-42.67
Net Long-Term Debt Issued (Repaid)	342.42	228.87	256.03	269.45	357.33
Repurchase of Common Stock	-15.31	-5.09	-3.76	-8.04	-3.69
Net Common Stock Issued (Repurchased)	-15.31	-5.09	-3.76	-8.04	-3.69
Common Dividends Paid	-27.39	-27.33	-27.5	-27.67	-41.05
Other Financing Activities	-167.31	-162.62	164.76	165.39	132.24
Financing Cash Flow	132.42	33.83	389.53	399.13	444.83
Effect of Exchange Rate Changes on Cash and Cash Equivalents	1.91	-0.52	1.25	-5.22	-1.01
Net Cash Flow	96.51	249.38	112.89	-67.38	-140.82
Free Cash Flow	-29.3	216.06	-277.89	-466.51	-585.65
FCF Margin	-7.09%	39.57%	-25.57%	-146.14%	-269.47%
Free Cash Flow Per Share	-0.13	0.97	-1.25	-2.10	-2.67
Levered Free Cash Flow	757.45	920.88	1,215	8.47	-75.18
Unlevered Free Cash Flow	352.46	545.53	348.84	-291.49	-403.76

Updated Dec 31, 2025. Data Source: Fiscal.ai. Banks template. Financial Sources.