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Burlington Stores, Inc.

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Burlington Stores, Inc. • NYSE
$252.23 ▼ -3.23% (-8.42)
Market Cap $15.87 B
52w High $309.00
52w Low $212.92
Dividend Yield 0%
P/E 28.99
Volume 790.51K
Outstanding Shares 62.93M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.71B ▲ $945.627M ▼ $104.75M ▲ 3.865% ▲ $1.63 ▲ $260.849M ▲
Q2-2025 $2.704B ▲ $947.999M ▲ $94.185M ▼ 3.483% ▼ $1.49 ▼ $237.443M ▲
Q1-2025 $2.503B ▼ $865.92M ▼ $100.833M ▼ 4.029% ▼ $1.6 ▼ $233.01M ▼
Q4-2024 $3.272B ▲ $988.138M ▲ $260.767M ▲ 7.97% ▲ $4.02 ▲ $420.636M ▲
Q3-2024 $2.529B $890.241M $90.597M 3.582% $1.43 $222.312M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $584.079M ▼ $9.597B ▲ $5.979B ▼ $3.617B ▲
Q2-2025 $747.619M ▲ $9.309B ▲ $7.862B ▲ $1.447B ▲
Q1-2025 $371.092M ▼ $8.55B ▼ $7.198B ▼ $1.352B ▼
Q4-2024 $994.698M ▲ $8.77B ▲ $7.4B ▲ $1.37B ▲
Q3-2024 $857.8M $8.443B $7.296B $1.146B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $104.749M ▲ $143.332M ▼ $-256.399M ▼ $-50.473M ▼ $-163.54M ▼ $738.69M ▲
Q2-2025 $94.185M ▼ $179.44M ▲ $-168.731M ▲ $365.818M ▲ $376.527M ▲ $-11.639M ▲
Q1-2025 $100.833M ▼ $-28.908M ▼ $-412.683M ▼ $-182.015M ▼ $-623.606M ▼ $-433.187M ▼
Q4-2024 $260.767M ▲ $543.164M ▲ $-346.368M ▼ $-59.898M ▼ $136.898M ▼ $187.552M ▼
Q3-2024 $90.597M $110.406M $-173.614M $261.098M $197.89M $565.369M

Five-Year Company Overview

Income Statement

Income Statement Burlington’s sales have climbed steadily over the past several years and now sit clearly above pre‑pandemic levels. Profitability, which was hit during 2020, has recovered and improved, with operating and net income generally moving higher over time. Margins are not spectacular but show a pattern of gradual strengthening as the company gains scale and improves execution. Earnings per share follow the same trend, helped by both higher profits and disciplined cost control. The main watchpoints are how well they can sustain merchandise margins in a highly promotional retail environment, and whether sales growth remains strong enough to keep spreading fixed costs over a larger base.

Balance Sheet

Balance Sheet The balance sheet shows a business that is asset‑intensive but becoming sturdier over time. Total assets have grown, reflecting investments in stores and infrastructure. Debt remains sizable and is a key risk to monitor, but shareholders’ equity has been building from a relatively thin base, which suggests that retained profits are gradually strengthening the company’s financial cushion. Cash levels are stable rather than abundant, meaning Burlington has some flexibility but not an overly large cash war chest. Overall, it’s a leveraged but improving balance sheet that relies on continued steady performance to remain comfortable.

Cash Flow

Cash Flow Cash generation from day‑to‑day operations is solid and has generally tracked the improvement in earnings. Free cash flow has been positive in most recent years, although it dipped into slightly negative territory lately due to a notable step‑up in capital spending. That increased spending likely reflects investments in new stores, remodels, and supply chain upgrades rather than underlying weakness. The key question is whether these investments translate into stronger sales and profitability in the coming years, which would make the near‑term cash outflow worthwhile.

Competitive Edge

Competitive Edge Burlington operates in the off‑price segment alongside powerful rivals like TJX and Ross, but it has carved out a credible niche. Its strength lies in opportunistic buying from a large vendor base, rapid inventory turnover, and a “treasure hunt” shopping experience with branded goods at steep discounts. The decision to focus on physical stores and avoid the costs of e‑commerce keeps its model relatively lean. However, competition is intense, customer loyalty can be fickle, and performance is sensitive to the health of the consumer. Burlington’s smaller, more productive store format and focus on certain categories like baby and outerwear provide some differentiation, but it must execute consistently to maintain share.

Innovation and R&D

Innovation and R&D While Burlington is not a technology company, it is quietly investing in the foundational systems that matter most for an off‑price retailer. The “Burlington 2.0” and “Merchandising 2.0” initiatives emphasize better supply chain infrastructure, more automated distribution centers, and improved planning tools for buyers. The upcoming highly automated distribution center and the shift toward data‑driven site selection for smaller, more efficient stores are central to this strategy. These efforts aim to move goods faster, lower costs, and improve inventory decisions. The payoff depends on whether these projects deliver smoother operations, better product assortments, and higher store productivity without creating execution bottlenecks.

Summary

Burlington looks like a retailer that has largely moved past the disruption of 2020 and is now in a phase of measured, operationally focused growth. Revenue and profits have trended upward, the balance sheet is gradually strengthening though still debt‑heavy, and cash flows are being reinvested into the business. Its off‑price model, vendor relationships, and focus on brick‑and‑mortar efficiency give it a defensible position in a competitive space. The main opportunities lie in executing its Burlington 2.0 strategy—smaller, more productive stores and a modernized supply chain—while the main risks stem from macroeconomic downturns, fashion and inventory missteps, and the burden of leverage. Overall, the story is one of improving fundamentals tied closely to consistent operational execution.

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