Financials Burlington Stores, Inc.

Equities

BURL

US1220171060

Apparel & Accessories Retailers

Market Closed - Nyse Other stock markets 04:00:02 2024-09-13 pm EDT			5-day change	1st Jan Change
277.45 ^USD	+0.78%		+6.74%	+42.66%

Sep. 03	UBS Raises Burlington Stores Price Target to $270 From $238, Maintains Neutral Rating	MT
Aug. 30	Deutsche Bank Raises Price Target on Burlington Stores to $303 From $285, Keeps Buy Rating	MT

Projected Income Statement: Burlington Stores, Inc.

Fiscal Period: February	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	7,286	5,764	9,322	8,703	9,727	10,667	11,735	13,001
Change	-	-20.89%	61.73%	-6.65%	11.78%	9.66%	10.01%	10.79%
EBITDA ¹	883.9	-62.65	1,051	700.7	888.1	1,069	1,255	1,480
Change	-	-	-	-33.32%	26.74%	20.33%	17.45%	17.95%
EBIT ¹	673.6	-282.8	801.7	430.3	581	714.9	867.4	1,054
Change	-	-	-	-46.32%	35.02%	23.05%	21.32%	21.54%
Interest Paid ¹	-50.83	-97.77	-67.5	-66.47	-78.4	-40.27	-53.12	-53.26
Earnings before Tax (EBT) ¹	580.5	-437.6	545.3	307.5	465.8	654.5	792.8	-
Change	-	-	-	-43.61%	51.47%	40.52%	21.13%	-100%
Net income ¹	465.1	-216.5	408.8	230.1	339.6	486.8	608.3	739.6
Change	-	-	-	-43.71%	47.59%	43.32%	24.95%	21.59%
Announcement Date	3/5/20	3/4/21	3/3/22	3/2/23	3/7/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: February	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	1,782	2,209	801.5	1,012	1,667	2,283	2,193	2,216	2,304	2,609	1,930	1,988	2,041	2,744	2,137	2,175	2,289	3,126	2,362	2,466	2,555	3,288	2,620	2,704	2,792	3,640
Change	-	23.97%	-63.71%	26.3%	64.69%	36.93%	-3.92%	1.03%	3.98%	13.24%	-26.04%	3.02%	2.65%	34.48%	-22.13%	1.77%	5.27%	36.56%	-24.46%	4.4%	3.64%	28.66%	-20.31%	3.21%	3.27%	30.34%
EBITDA ¹	193.8	351.8	-444.9	-8.806	113.5	280.2	293.5	245.7	205	306.7	125.4	110.6	122.6	342.2	157.3	140.8	175.6	414.4	211.4	201.8	231	428.2	255.3	240.4	279.3	514.3
Change	-	81.49%	-	-98.02%	-	146.81%	4.75%	-16.27%	-16.58%	49.63%	-59.12%	-11.82%	10.86%	179.09%	-54.03%	-10.45%	24.65%	136.05%	-49%	-4.5%	14.45%	85.36%	-40.37%	-5.86%	16.2%	84.14%
EBIT ¹	141.2	296.8	-499.2	-63.16	58.58	223.5	237.9	182.9	140.3	240.6	59.1	42.61	54.96	273.7	86.76	67.71	99.48	327.1	129.4	115.2	138.6	332.4	159.9	143.7	168.5	395.2
Change	-	110.23%	-	-87.35%	-	281.53%	6.43%	-23.1%	-23.28%	71.45%	-75.44%	-27.89%	28.98%	397.91%	-68.3%	-21.96%	46.92%	228.82%	-60.44%	-10.98%	20.29%	139.93%	-51.91%	-10.09%	17.24%	134.55%
Charge d'intérêts ¹	-12.15	-11.87	-14.69	-28.36	-27.46	-27.26	-19.6	-17.5	-15.61	-14.79	-14.61	-15.44	-17.41	-19.02	-19.34	-19.54	-19.68	-19.83	-16.65	-16.58	-6.066	-6.696	-12.09	-12.42	-13.09	-13.09
Earnings before Tax (EBT) ¹	119.4	271.4	-539.1	-109.8	23.1	188.2	211.7	123.8	31.54	178.3	17.71	15.96	22.82	251	43.32	41.99	66.89	313.6	109.6	99.67	128.5	323.2	-	-	-	-
Change	-	127.3%	-	-79.63%	-	714.56%	12.47%	-41.53%	-74.52%	465.38%	-90.07%	-9.88%	43%	1,000.12%	-82.74%	-3.06%	59.29%	368.77%	-65.04%	-9.1%	28.93%	151.56%	-100%	-	-	-
Net income ¹	96.46	206.3	-333.7	-46.78	8.016	156	171	102.6	13.62	121.6	16.17	11.97	16.78	185.2	32.75	30.89	48.55	227.5	78.51	73.76	95	238.2	118	103.8	109.8	285.6
Change	-	113.9%	-	-85.98%	-	1,846.03%	9.64%	-40.04%	-86.72%	793.13%	-86.7%	-26.02%	40.26%	1,003.5%	-82.32%	-5.67%	57.16%	368.49%	-65.48%	-6.05%	28.79%	150.74%	-50.45%	-12.03%	5.74%	160.17%
Announcement Date	11/26/19	3/5/20	5/28/20	8/27/20	11/24/20	3/4/21	5/27/21	8/26/21	11/23/21	3/3/22	5/26/22	8/25/22	11/22/22	3/2/23	5/25/23	8/24/23	11/21/23	3/7/24	5/30/24	8/29/24	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Burlington Stores, Inc.

Fiscal Period: February	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	602	551	464	597	483	577	365	311
Change	-	-8.47%	-15.79%	28.66%	-19.1%	19.39%	-36.74%	-14.79%
Announcement Date	3/5/20	3/4/21	3/3/22	3/2/23	3/7/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Burlington Stores, Inc.

Fiscal Period: February	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	328.4	273.3	352.5	447.4	492.6	761.8	814.9	755.3
Change	-	-16.77%	28.98%	26.93%	10.11%	54.64%	6.96%	-7.31%
Free Cash Flow (FCF) ¹	563.4	-54.1	480.7	149	376.1	317.6	410.9	565.5
Change	-	-109.6%	-988.51%	-69%	152.42%	-15.55%	29.38%	37.61%
Announcement Date	3/5/20	3/4/21	3/3/22	3/2/23	3/7/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Burlington Stores, Inc.

Fiscal Period: February	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	12.13%	-1.09%	11.27%	8.05%	9.13%	10.02%	10.7%	11.39%
EBIT Margin (%)	9.24%	-4.91%	8.6%	4.94%	5.97%	6.7%	7.39%	8.11%
EBT Margin (%)	7.97%	-7.59%	5.85%	3.53%	4.79%	6.14%	6.76%	-
Net margin (%)	6.38%	-3.76%	4.39%	2.64%	3.49%	4.56%	5.18%	5.69%
FCF margin (%)	7.73%	-0.94%	5.16%	1.71%	3.87%	2.98%	3.5%	4.35%
FCF / Net Income (%)	121.12%	24.99%	117.57%	64.74%	110.73%	65.25%	67.56%	76.46%
Profitability
ROA	10.73%	-3.5%	8.26%	3.21%	5.25%	6.39%	7.41%	8.64%
ROE	109.33%	-43.61%	93.57%	29.59%	43.91%	44.53%	42.46%	39.33%
Financial Health
Leverage (Debt/EBITDA)	0.68x	-8.8x	0.44x	0.85x	0.54x	0.54x	0.29x	0.21x
Debt / Free cash flow	1.07x	-10.19x	0.97x	4x	1.29x	1.82x	0.89x	0.55x
Capital Intensity
CAPEX / Current Assets (%)	4.51%	4.74%	3.78%	5.14%	5.06%	7.14%	6.94%	5.81%
CAPEX / EBITDA (%)	37.15%	-436.19%	33.54%	63.85%	55.47%	71.29%	64.92%	51.02%
CAPEX / FCF (%)	58.28%	-505.13%	73.32%	300.28%	130.99%	239.85%	198.29%	133.56%
Items per share
Cash flow per share ¹	13.25	3.32	12.23	9.05	13.38	15.06	18.19	-
Change	-	-74.95%	268.36%	-26%	47.87%	12.57%	20.77%	-
Dividend per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	8.011	7.046	11.44	12.23	15.59	19.89	25.85	33.97
Change	-	-12.05%	62.31%	6.9%	27.48%	27.64%	29.96%	31.38%
EPS ¹	6.91	-3.28	6	3.49	5.23	7.573	9.39	11.81
Change	-	-147.47%	-282.93%	-41.83%	49.86%	44.81%	23.99%	25.77%
Nbr of stocks (in thousands)	65,756	65,812	66,398	64,727	63,940	62,980	62,980	62,980
Announcement Date	3/5/20	3/4/21	3/3/22	3/2/23	3/7/24	-	-	-