Thomson Reuters Corporation (TRI) 10-Year Financial Performance & Capital Metrics

TRI • • Industrial / General

IndustrialsBusiness ServicesProfessional & Technical ServicesConsulting & Advisory Services

AboutThomson Reuters Corporation provides business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments. The Corporates segment provides a suite of content-enabled technology solutions for legal, tax, regulatory, compliance, and IT professionals. The Tax & Accounting Professionals segment offers research and workflow products focusing on tax offerings and automating tax workflows to tax, accounting, and audit professionals in accounting firms. The Reuters News segment provides business, financial, and international news to media organizations, professional, and news consumers through news agency and industry events. The Global Print segment offers legal and tax information primarily in print format to legal and tax professionals, governments, law schools, and corporations. The company was formerly known as The Thomson Corporation and changed its name to Thomson Reuters Corporation in April 2008. The company was founded in 1851 and is headquartered in Toronto, Canada. Thomson Reuters Corporation is a subsidiary of The Woodbridge Company Limited.Show more

Revenue $7.26B +6.8%
EBITDA $2.93B -4.1%
Net Income $2.21B -18.0%
EPS (Diluted) 4.89 -17.2%
Gross Margin 75.32% -2.2%
EBITDA Margin 40.38% -10.3%
Operating Margin 29.06% -15.3%
Net Margin 30.45% -23.2%
ROE 19.16% -18.4%
ROIC 11.88% -0.5%
Debt/Equity 0.26 -20.0%
Interest Coverage 12.52 +15.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓FCF machine: 24.3% free cash flow margin
✓Good 3Y average ROE of 17.7%
✓Share count reduced 2.7% through buybacks
✓Healthy 5Y average net margin of 39.7%

✗Weaknesses

✗Weak momentum: RS Rating 15 (bottom 15%)
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-5.37%

5Y4.21%

3Y4.57%

TTM2.96%

Profit (Net Income) CAGR

10Y1.47%

5Y7.16%

3Y-27.03%

TTM-23.64%

EPS CAGR

10Y7.08%

5Y9%

3Y-24.58%

TTM-25.04%

ROCE

10Y Avg8.81%

5Y Avg11.74%

3Y Avg12.79%

Latest13.85%

Peer Comparison

Consulting & Advisory Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
RHLDResolute Holdings Management, Inc.	1.93B	226.37	69.02	7.67%	32.04%	343.07%	7.44%
CBZCBIZ, Inc.	2.8B	51.51	66.04	13.97%	3.89%	5.56%	3.95%	1.03
LZLegalZoom.com, Inc.	1.63B	9.22	57.63	3.2%	3.05%	11.01%	6.11%	0.08
TRIThomson Reuters Corporation	55.53B	124.84	25.53	6.83%	23.82%	14.95%	3.17%	0.26
BLMZHarrison Global Holdings Inc.	29.3K	0.02	-0.00	71.48%	-13.6%	-16.51%		0.08
SGRPSPAR Group, Inc.	20.12M	0.84	-6.46	-5.48%	-14.66%	-129.98%		0.78
LICNLichen International Limited	51.57M	3.18	-7.76	4.32%	-10.7%	-13.25%		0.00
ZGMZenta Group Company Limited Ordinary Shares	32.83M	2.78		135.19%	39.37%	71.65%		0.00

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	11.26B	11.17B	5.3B	5.5B	5.91B	5.98B	6.35B	6.63B	6.79B	7.26B
Revenue Growth %	-0.11%	-0.01%	-0.53%	0.04%	0.07%	0.01%	0.06%	0.04%	0.03%	0.07%
Cost of Goods Sold+	1.98B	2.02B	864M	1.04B	1.41B	1.16B	1.58B	1.58B	1.56B	1.79B
COGS % of Revenue	0.18%	0.18%	0.16%	0.19%	0.24%	0.19%	0.25%	0.24%	0.23%	0.25%
Gross Profit+	9.27B	9.15B	4.43B	4.46B	4.5B	4.83B	4.77B	5.04B	5.23B	5.47B
Gross Margin %	0.82%	0.82%	0.84%	0.81%	0.76%	0.81%	0.75%	0.76%	0.77%	0.75%
Gross Profit Growth %	-0.1%	-0.01%	-0.52%	0.01%	0.01%	0.07%	-0.01%	0.06%	0.04%	0.04%
Operating Expenses+	7.75B	7.76B	3.4B	3.68B	3.3B	2.9B	3.52B	3.21B	2.9B	3.36B
OpEx % of Revenue	0.69%	0.69%	0.64%	0.67%	0.56%	0.48%	0.56%	0.48%	0.43%	0.46%
Selling, General & Admin	6.18B	6.19B	2.84B	2.74B	2.67B	2.52B	2.75B	2.67B	2.53B	2.66B
SG&A % of Revenue	0.55%	0.55%	0.54%	0.5%	0.45%	0.42%	0.43%	0.4%	0.37%	0.37%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	1.56B	1.56B	557M	944M	631M	375M	776M	535M	369M	700M
Operating Income+	1.53B	1.39B	1.03B	780M	1.2B	1.93B	1.24B	1.83B	2.33B	2.11B
Operating Margin %	0.14%	0.12%	0.2%	0.14%	0.2%	0.32%	0.2%	0.28%	0.34%	0.29%
Operating Income Growth %	-0.4%	-0.09%	-0.26%	-0.25%	0.54%	0.61%	-0.36%	0.48%	0.27%	-0.1%
EBITDA+	3.11B	2.94B	1.64B	1.4B	1.92B	2.72B	2.01B	2.56B	3.06B	2.93B
EBITDA Margin %	0.28%	0.26%	0.31%	0.25%	0.32%	0.45%	0.32%	0.39%	0.45%	0.4%
EBITDA Growth %	-0.29%	-0.05%	-0.44%	-0.15%	0.37%	0.42%	-0.26%	0.27%	0.2%	-0.04%
D&A (Non-Cash Add-back)	1.58B	1.55B	605M	619M	717M	792M	770M	724M	725M	822M
EBIT	1.57B	1.45B	871M	831M	1.18B	1.97B	1.25B	2.29B	2.23B	2.23B
Net Interest Income+	-323.27M	-340.85M	-336.69M	-216.37M	-141.21M	-184.24M	-184.36M	-178.63M	-130.35M	-96.15M
Interest Income	1.84M	6.92M	7.25M	36.06M	45.02M	5.26M	1.98M	6.72M	85.54M	72.35M
Interest Expense	325.12M	347.77M	343.94M	252.43M	186.23M	189.51M	186.35M	185.35M	215.89M	168.5M
Other Income/Expense	-365M	-349M	-531M	-480M	-827M	-709M	6.05B	-184M	731M	-40M
Pretax Income+	1.16B	1.04B	503M	300M	372M	1.22B	7.29B	1.65B	3.06B	2.07B
Pretax Margin %	0.1%	0.09%	0.09%	0.05%	0.06%	0.2%	1.15%	0.25%	0.45%	0.29%
Income Tax+	34M	-15M	-134M	136M	-1.2B	71M	1.61B	259M	417M	-123M
Effective Tax Rate %	1.08%	2.98%	2.77%	13.11%	4.2%	0.92%	0.78%	0.81%	0.88%	1.07%
Net Income+	1.25B	3.1B	1.4B	3.93B	1.56B	1.12B	5.69B	1.34B	2.69B	2.21B
Net Margin %	0.11%	0.28%	0.26%	0.71%	0.26%	0.19%	0.9%	0.2%	0.4%	0.3%
Net Income Growth %	-0.34%	1.47%	-0.55%	1.82%	-0.6%	-0.28%	4.07%	-0.76%	1.01%	-0.18%
Net Income (Continuing)	1.13B	1.06B	637M	164M	1.57B	1.15B	5.69B	1.39B	2.65B	2.19B
Discontinued Operations	184M	2.09B	822M	3.86B	-6M	-27M	2M	-53M	49M	15M
Minority Interest	487M	483M	498M	0	0	0	0	0	0	0
EPS (Diluted)+	1.62	1.60	2.21	0.72	3.18	2.37	11.40	2.64	5.90	4.89
EPS Growth %	-0.34%	-0.01%	0.38%	-0.67%	3.42%	-0.26%	3.81%	-0.77%	1.23%	-0.17%
EPS (Basic)	1.63	1.60	2.21	0.72	3.19	2.37	11.42	2.65	5.91	4.89
Diluted Shares Outstanding	686.26M	655.47M	630.3M	644.13M	502.52M	498.03M	494.5M	484.93M	463.97M	451.24M
Basic Shares Outstanding	683.75M	654.04M	629.05M	643.52M	500.83M	496.72M	493.44M	483.89M	463.18M	450.61M
Dividend Payout Ratio	0.74%	0.31%	0.71%	0.22%	0.46%	0.68%	0.13%	0.6%	0.34%	0.41%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	3.56B	4.63B	2.98B	4.52B	3.07B	3.98B	2.45B	2.81B	2.92B	3.49B
Cash & Short-Term Investments	1.04B	2.44B	846M	2.76B	1.32B	2.34B	816M	1.19B	1.26B	1.89B
Cash Only	860M	2.26B	748M	2.68B	791M	1.73B	708M	988M	1.2B	1.85B
Short-Term Investments	176M	188M	98M	76M	533M	612M	108M	204M	66M	35M
Accounts Receivable	1.8B	1.47B	1.46B	1.38B	1.24B	1.22B	1.13B	1.14B	1.19B	1.15B
Days Sales Outstanding	58.53	47.89	100.4	91.7	76.57	74.17	64.69	62.62	64.15	58.03
Inventory	33M	32M	31M	33M	23M	26M	28M	29M	20M	21M
Days Inventory Outstanding	6.07	5.79	13.1	11.6	5.95	8.2	6.46	6.68	4.68	4.28
Other Current Assets	398M	450M	252M	183M	355M	269M	314M	294M	282M	277M
Total Non-Current Assets+	25.55B	23.22B	23.5B	12.5B	14.22B	13.91B	19.7B	18.9B	15.76B	14.95B
Property, Plant & Equipment	1.07B	961M	921M	473M	615M	545M	502M	414M	447M	386M
Fixed Asset Turnover	10.55x	11.62x	5.75x	11.63x	9.60x	10.98x	12.65x	16.01x	15.20x	18.80x
Goodwill	15.88B	14.48B	15.04B	5.08B	5.85B	5.98B	5.94B	5.87B	6.72B	7.26B
Intangible Assets	7.9B	7.05B	6.77B	4.23B	4.42B	4.26B	4.15B	4.14B	4.4B	4.59B
Long-Term Investments	289M	298M	250M	2.24B	1.65B	1.23B	7.07B	6.68B	2.41B	711M
Other Non-Current Assets	371M	374M	438M	446M	513M	690M	896M	661M	683M	625M
Total Assets+	29.1B	27.85B	26.47B	17.05B	17.3B	17.88B	22.15B	21.71B	18.68B	18.44B
Asset Turnover	0.39x	0.40x	0.20x	0.32x	0.34x	0.33x	0.29x	0.31x	0.36x	0.39x
Asset Growth %	-0.05%	-0.04%	-0.05%	-0.36%	0.01%	0.03%	0.24%	-0.02%	-0.14%	-0.01%
Total Current Liabilities+	5.41B	4.56B	4.8B	2.69B	3.22B	2.65B	2.58B	4.89B	3.23B	3.44B
Accounts Payable	282M	311M	307M	326M	265M	217M	227M	237M	181M	176M
Days Payables Outstanding	51.88	56.25	129.69	114.63	68.55	68.4	52.37	54.58	42.35	35.87
Short-Term Debt	1.59B	1.11B	1.64B	3M	579M	0	0	1.65B	372M	973M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	691M	722M	431M	359M	548M	474M	297M	907M	586M	171M
Current Ratio	0.66x	1.02x	0.62x	1.68x	0.95x	1.50x	0.95x	0.57x	0.90x	1.02x
Quick Ratio	0.65x	1.01x	0.61x	1.67x	0.95x	1.49x	0.94x	0.57x	0.90x	1.01x
Cash Conversion Cycle	12.72	-2.57	-16.2	-11.33	13.97	13.97	18.77	14.72	26.48	26.45
Total Non-Current Liabilities+	10.61B	10.03B	8.11B	5.12B	4.52B	5.25B	5.73B	4.93B	4.39B	3B
Long-Term Debt	6.83B	6.28B	5.38B	3.21B	2.68B	3.77B	3.79B	3.11B	2.9B	1.85B
Capital Lease Obligations	0	0	0	0	253M	223M	197M	179M	209M	198M
Deferred Tax Liabilities	1.26B	1.16B	708M	780M	576M	394M	1B	897M	553M	241M
Other Non-Current Liabilities	2.51B	2.6B	2.02B	1.12B	1.01B	860M	746M	745M	720M	709M
Total Liabilities	16.01B	14.6B	12.9B	7.81B	7.74B	7.9B	8.31B	9.83B	7.62B	6.43B
Total Debt+	8.42B	7.39B	7.03B	3.22B	3.58B	4.08B	4.05B	5B	3.54B	3.08B
Net Debt	7.56B	5.13B	6.28B	534M	2.79B	2.35B	3.34B	4.01B	2.34B	1.22B
Debt / Equity	0.64x	0.56x	0.52x	0.35x	0.37x	0.41x	0.29x	0.42x	0.32x	0.26x
Debt / EBITDA	2.71x	2.51x	4.29x	2.30x	1.87x	1.50x	2.01x	1.95x	1.16x	1.05x
Net Debt / EBITDA	2.43x	1.74x	3.83x	0.38x	1.45x	0.86x	1.66x	1.57x	0.77x	0.42x
Interest Coverage	4.69x	4.00x	3.01x	3.09x	6.44x	10.18x	6.67x	9.89x	10.80x	12.52x
Total Equity+	13.1B	13.26B	13.57B	9.21B	9.56B	9.98B	13.83B	11.88B	11.06B	12.01B
Equity Growth %	-0.11%	0.01%	0.02%	-0.32%	0.04%	0.04%	0.39%	-0.14%	-0.07%	0.09%
Book Value per Share	19.09	20.22	21.54	14.30	19.02	20.04	27.98	24.51	23.85	26.61
Total Shareholders' Equity	12.61B	12.77B	13.08B	9.21B	9.56B	9.98B	13.83B	11.88B	11.06B	12.01B
Common Stock	9.58B	9.28B	9.2B	3.33B	3.47B	3.61B	3.7B	3.75B	1.79B	1.96B
Retained Earnings	6.46B	7.48B	7.2B	4.74B	4.96B	5.21B	9.15B	7.64B	8.68B	9.7B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-3.7B	-4.29B	-3.67B	-877M	-782M	-689M	-811M	-1.16B	-1.02B	-1.19B
Minority Interest	487M	483M	498M	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	2.61B	2.95B	2.1B	1.96B	718.32M	1.84B	2.74B	1.88B	2.38B	2.34B
Operating CF Margin %	0.23%	0.26%	0.4%	0.36%	0.12%	0.31%	0.43%	0.28%	0.35%	0.32%
Operating CF Growth %	0.16%	0.13%	-0.29%	-0.07%	-0.63%	1.56%	0.49%	-0.31%	0.27%	-0.02%
Net Income	986.4M	992.91M	659.91M	155.64M	1.61B	1.21B	5.64B	1.34B	2.69B	2.09B
Depreciation & Amortization	1.46B	1.53B	626.76M	587.43M	733.67M	833.84M	763.22M	695.31M	738.3M	782.53M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	-178.68M	-10.87M	-296.29M	-163.23M	-1.43B	-243.2M	656.18M	-76.83M	-395.12M	-609.27M
Other Non-Cash Items	520.37M	414.95M	1.27B	1.46B	58.33M	-70.54M	-5.14B	-81.63M	-1.12B	-91.39M
Working Capital Changes	-171.31M	17.78M	-156.43M	-79.72M	-252.74M	107.39M	824.68M	7.68M	465.38M	167.55M
Change in Receivables	-46.97M	29.64M	-20.72M	-319.81M	118.7M	30.53M	75.33M	-26.89M	-84.52M	24.75M
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	-56.18M	217.35M	-139.86M	204.98M	-225.11M	-140.03M	82.27M	-131.57M	-169.04M	-137.09M
Cash from Investing+	-862.07M	2.16B	-1.08B	13.98B	-1.42B	-145.29M	-1.48B	-484.99M	3.58B	281.79M
Capital Expenditures	-875.88M	-894.12M	-537.66M	-546.63M	-516.74M	-530.62M	-482.71M	-571.42M	-553.98M	-577.86M
CapEx % of Revenue	0.08%	0.08%	0.1%	0.1%	0.09%	0.09%	0.08%	0.09%	0.08%	0.08%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-28.55M	3.16B	-596.71M	14.95B	38.88M	4.21M	-1.01B	62.42M	-579.43M	-257.99M
Cash from Financing+	-1.82B	-3.67B	-2.58B	-14.17B	-1.23B	-678.02M	-2.25B	-1.11B	-5.73B	-1.98B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-934.83M	-970.19M	-992.45M	-856.95M	-717.3M	-770.67M	-768.18M	-803.84M	-908.36M	-903.43M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	12.89M	-13.83M	-63.19M	-57.89M	-12.28M	-88.44M	-97.14M	-75.87M	-54.99M	-55.22M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	1.74B	2.05B	1.56B	1.41B	201.58M	1.31B	2.26B	1.31B	1.83B	1.76B
FCF Margin %	0.15%	0.18%	0.3%	0.26%	0.03%	0.22%	0.36%	0.2%	0.27%	0.24%
FCF Growth %	0.3%	0.18%	-0.24%	-0.1%	-0.86%	5.48%	0.73%	-0.42%	0.4%	-0.04%
FCF per Share	2.53	3.13	2.48	2.19	0.40	2.62	4.57	2.70	3.94	3.90
FCF Conversion (FCF/Net Income)	2.08x	0.95x	1.51x	0.50x	0.46x	1.64x	0.48x	1.41x	0.88x	1.06x
Interest Paid	374M	347M	374M	296M	0	164M	165M	168M	201M	149M
Taxes Paid	206M	347M	191M	308M	0	164M	1.07B	216M	869M	551M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	9.04%	23.51%	10.4%	34.52%	16.66%	11.48%	47.78%	10.4%	23.49%	19.16%
Return on Invested Capital (ROIC)	5.38%	5.34%	4.06%	3.95%	8.14%	11.72%	6.31%	8.32%	11.94%	11.88%
Gross Margin	82.38%	81.93%	83.69%	81.13%	76.11%	80.65%	75.08%	76.08%	77.04%	75.32%
Net Margin	11.15%	27.74%	26.34%	71.5%	26.48%	18.75%	89.62%	20.19%	39.67%	30.45%
Debt / Equity	0.64x	0.56x	0.52x	0.35x	0.37x	0.41x	0.29x	0.42x	0.32x	0.26x
Interest Coverage	4.69x	4.00x	3.01x	3.09x	6.44x	10.18x	6.67x	9.89x	10.80x	12.52x
FCF Conversion	2.08x	0.95x	1.51x	0.50x	0.46x	1.64x	0.48x	1.41x	0.88x	1.06x
Revenue Growth	-10.71%	-0.81%	-52.56%	3.85%	7.36%	1.32%	6.08%	4.4%	2.52%	6.83%

Revenue by Segment

	2017	2018	2019	2020	2021	2022	2023	2024
Electronic Software And Services	10.58B	4.77B	5.21B	5.36B	5.74B	6.04B	6.23B	6.74B
Electronic Software And Services Growth	-	-54.88%	9.22%	2.90%	6.99%	5.16%	3.26%	8.14%
Global Print	-	728M	693M	620M	609M	-	-	-
Global Print Growth	-	-	-4.81%	-10.53%	-1.77%	-	-	-
Print	755M	-	-	-	-	-	-	-
Print Growth	-	-	-	-	-	-	-	-

Revenue by Geography

	2017	2018	2019	2020	2021	2022	2023	2024
Americas	7.05B	-	-	-	-	-	-	-
Americas Growth	-	-	-	-	-	-	-	-
UNITED STATES	6.44B	-	-	-	-	-	-	-
UNITED STATES Growth	-	-	-	-	-	-	-	-
EMEA	3.01B	-	-	-	-	-	-	-
EMEA Growth	-	-	-	-	-	-	-	-
Other Countries	1.57B	-	-	-	-	-	-	-
Other Countries Growth	-	-	-	-	-	-	-	-
Asia Pacific	1.27B	-	-	-	-	-	-	-
Asia Pacific Growth	-	-	-	-	-	-	-	-
CANADA	313M	-	-	-	-	-	-	-
CANADA Growth	-	-	-	-	-	-	-	-
Others	293M	-	-	-	-	-	-	-
Others Growth	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Thomson Reuters Corporation (TRI) has a price-to-earnings (P/E) ratio of 25.5x. This suggests investors expect higher future growth.

Growth & Financials

Thomson Reuters Corporation (TRI) reported $7.38B in revenue for fiscal year 2024. This represents a 47% decrease from $13.81B in 2011.

Thomson Reuters Corporation (TRI) grew revenue by 6.8% over the past year. This is steady growth.

Yes, Thomson Reuters Corporation (TRI) is profitable, generating $1.76B in net income for fiscal year 2024 (30.4% net margin).

Dividend & Returns

Yes, Thomson Reuters Corporation (TRI) pays a dividend with a yield of 1.60%. This makes it attractive for income-focused investors.

Thomson Reuters Corporation (TRI) has a return on equity (ROE) of 19.2%. This is reasonable for most industries.

Thomson Reuters Corporation (TRI) generated $1.82B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

...