Principal Finance was Burford Capital’s largest segment in fiscal 2025, bringing in $359.41M of $413.36M (87%).
| Segment | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Principal Finance | $195.28M | $908.44M | $412.70M | $359.41M | |
| Capital Provision | — | — | — | — | |
| Reconciling Items | $68.62M | $110.36M | $85.71M | $17.31M | |
| Adjustment For Third-Party Interests | — | — | — | — | |
| Asset Management & Other Services | $55.32M | $68.10M | $47.68M | $36.64M | |
| Other Corporate | — | — | — | — | |
| Total | $319.23M | $1.09B | $546.09M | $413.36M |
Burford Capital brought in $413.36M from its three segments in fiscal 2025, the year ended December 31, 2025. That was down 24.3% from $546.09M in fiscal 2024. Principal Finance was the largest at $359.41M (86.9%), ahead of Asset Management & Other Services at $36.64M (8.9%) and Reconciling Items at $17.31M (4.2%).
Compared with fiscal 2024, every segment above 2% of revenue shrank. Principal Finance held up best, down 12.9% to $359.41M, and Reconciling Items fell the most, down 79.8% to $17.31M. From fiscal 2022 to 2025, combined revenue from these segments grew from $319.23M to $413.36M, a compound annual growth rate of 9.0%. Principal Finance's share of the total rose from 61.2% to 86.9%.
Company & Its Restricted Subsidiaries was Burford Capital’s largest revenue line in fiscal 2025, bringing in $382.80M of $413.36M (93%).
| Consolidated Entities | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Company & Its Restricted Subsidiaries | $245.38M | $973.46M | $460.35M | $382.80M | |
| Unrestricted Subsidiaries | $73.84M | $113.44M | $85.74M | $30.56M | |
| Total | $319.23M | $1.09B | $546.09M | $413.36M |
Burford Capital brought in $413.36M from its two revenue lines in fiscal 2025, the year ended December 31, 2025. That was down 24.3% from $546.09M in fiscal 2024. Company & Its Restricted Subsidiaries was the largest at $382.80M (92.6%), ahead of Unrestricted Subsidiaries at $30.56M (7.4%).
Compared with fiscal 2024, Company & Its Restricted Subsidiaries fell 16.8% to $382.80M and Unrestricted Subsidiaries fell 64.4% to $30.56M. From fiscal 2022 to 2025, combined revenue from these revenue lines grew from $319.23M to $413.36M, a compound annual growth rate of 9.0%. Company & Its Restricted Subsidiaries' share of the total rose from 76.9% to 92.6%.
Capital Provision Income/(Loss) was Burford Capital’s largest product and service line in fiscal 2021, bringing in $194.55M of $217.62M (89%).
| Product and Service | FY 2020 | FY 2021 |
|---|---|---|
| Capital Provision Income/(Loss) | — | $194.55M |
| Capital Provision Income | $314.95M | — |
| Asset Management Income | — | $14.40M |
| Management Fee Income | — | $8.67M |
| Asset Management Fees | $8.71M | — |
| Performance Fee Income | $6.40M | — |
| Insurance (Loss)/Income | $1.78M | — |
| Services Income | $804.00K | — |
| Total | $332.64M | $217.62M |
Burford Capital brought in $217.62M from its three product and service lines in fiscal 2021, the year ended December 31, 2021. Burford Capital regrouped these lines after fiscal 2020, so the total does not compare directly with that year's $332.64M. Capital Provision Income/(Loss) was the largest at $194.55M (89.4%), ahead of Asset Management Income at $14.40M (6.6%) and Management Fee Income at $8.67M (4.0%).
Burford Capital began breaking out Capital Provision Income/(Loss) in fiscal 2021, Asset Management Income in fiscal 2021 and Management Fee Income in fiscal 2021. Burford Capital stopped reporting Capital Provision Income ($314.95M in fiscal 2020), Asset Management Fees ($8.71M in fiscal 2020), Performance Fee Income ($6.40M in fiscal 2020) and two others as separate lines.
Burford Capital (BUR) reports its revenue by segment, by consolidated entities and by product and service. In fiscal 2025, Principal Finance was its largest segment, bringing in $359.41M (86.9% of the total), followed by Asset Management & Other Services at $36.64M (8.9%).
Principal Finance was Burford Capital's largest segment in fiscal 2025, bringing in $359.41M, or 86.9% of the $413.36M total across its three segments.
Company & Its Restricted Subsidiaries was Burford Capital's largest revenue line in fiscal 2025, bringing in $382.80M, or 92.6% of the $413.36M total across its two revenue lines.
Capital Provision Income/(Loss) was Burford Capital's largest product and service line in fiscal 2021, bringing in $194.55M, or 89.4% of the $217.62M total across its three product and service lines.
Every figure comes from Burford Capital's annual financial filings, as reported. Each line keeps the name Burford Capital gives it, and years follow its fiscal calendar.
Burford Capital's revenue by segment goes back to fiscal 2021, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.