What is Burford Capital's principal finance — goodwill?

Burford Capital (BUR) reported principal finance — goodwill of $109M in Q4 2025.

What does principal finance — goodwill mean?

This represents the intangible asset value recorded when the Principal Finance segment acquires other businesses for a price exceeding the fair value of their net identifiable assets. It reflects the premium paid for synergies, brand reputation, and market access within the legal finance industry. Changes in this balance may indicate impairment risks or the impact of strategic acquisitions.

Burford Capital (BUR) Principal Finance — Goodwill

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Other segment segments

Asset Management and Other Services

$25.02M0.0%

Similar metrics at other companies

OPLNFinance — Goodwill

$240.9M0.0%

HLICorporate Finance — Goodwill

$1.13B+10.8%

FCNCorporate Finance — Goodwill

$542.22M0.0%

WTFCSpecialty finance — Goodwill

$48.8M+27.1%

NRIMSpecialty Finance — Goodwill

$34.86M0.0%

PFGSegment Principal Asset Management — Goodwill

$883.8M+6.1%

Other financials

Income statement

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Revenue$110.7M-42.1%

Operating income$63.2M-55.5%

Net income$2.2M-97.5%

EPS (diluted)$0.01-97.4%

Balance sheet

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Cash & equivalents$696.9M+87.2%

Total debt$2.4B+34.6%

Total equity$819.1M-67.3%

Total assets$4.3B-32.5%

Cash flow

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Operating cash flow-$136.6M-188%

CapEx$55.0K-46.6%

Free cash flow-$136.7M-188%

Valuation

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Market cap$970.56M-66.9%

Enterprise value$2.69B-38.3%

Profitability

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Operating margin98.4%+25.6pp

Net margin21.2%-21.9pp

FCF margin54.4%+43.5pp

Returns & leverage

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Return on equity3.5%—

Debt / equity2.9×+2.2×

Where this comes from

Reported directly by Burford Capital in its filing.

Tagged under the XBRL concept us-gaap:Goodwill.

The source filing: Burford Capital’s 10-K, filed February 26, 2026.

Filed: Feb 26, 2026, 8:01 AM EST
Fiscal year: FY2025
Accession: 0001714174-26-000007

($ in thousands)	Principal Finance	Asset Management and Other Services	Total
December 31, 2023	$108,945	$25,020	$133,965
Foreign exchange gains/(losses)	(17)	—	(17)
December 31, 2024	108,928	25,020	133,948
Foreign exchange gains/(losses)	72	—	72
December 31, 2025	109,000	25,020	134,020

Item 8. Financial statements and supplementary data

FAQ

What is Burford Capital's principal finance — goodwill?: Burford Capital (BUR) reported principal finance — goodwill of $109M in Q4 2025.
What does principal finance — goodwill mean?: This represents the intangible asset value recorded when the Principal Finance segment acquires other businesses for a price exceeding the fair value of their net identifiable assets. It reflects the premium paid for synergies, brand reputation, and market access within the legal finance industry. Changes in this balance may indicate impairment risks or the impact of strategic acquisitions.