Thomson Reuters Corporation — Intrinsic Value & Fair Price

TRI

NASDAQIndustrialsSpecialty Business ServicesCIK 0001075124thomsonreuters.comAbout TRI

Last close · Oct 16, 2026109.01+1.12 (+1.04%)

Market cap$47.2B

Model value · DCF · Perpetuity growth · 5y

93.69

Thomson Reuters closed at $109.01 — overvalued by 16% vs model.

56.50the model's range216.34

DCF · Perpetuity growth · 5y leads for dividend payer — positive operating income and three years of positive free cash flow. From a five-year discounted cash flow.

Other models

40.76 – 134.57

Wall St. target

132.50 18% below

Above model, 1y

8 of 20 days

Price and model value

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What the marks mean

Daily close

Valuation models

price $109.01 · as of Oct 17, 2026

DCF · Perpetuity growth · 5yused56.50 – 216.3493.6916% overvalued DCF · Perpetuity growth · 10y65.72 – 244.69106.882% overvalued DCF · EBITDA exit · 5y67.01 – 129.4895.6614% overvalued DCF · EBITDA exit · 10y74.54 – 153.56108.311% overvalued P/E · peers98.73 – 122.46116.276% undervalued P/E · own history99.90 – 164.25113.444% undervalued PEG—90.3821% overvalued EV/EBITDA · peers75.84 – 160.80126.2914% undervalued EV/Revenue · peers37.48 – 221.09134.5719% undervalued Earnings power value32.86 – 53.0240.76167% overvalued Dividend discount51.13 – 164.1081.5534% overvalued Wall St. consensus target—132.5018% below Cost of capital (WACC)—6.92%—

DCF · Perpetuity growth · 5y leads for dividend payer — positive operating income and three years of positive free cash flow. How we value a stock walks through every input.

engine pkg:0.1.0

Dividends

Quarterly · as of Oct 16, 2026

Yield, trailing 12 months

3.67%

Past 2 years

low 1.05%high 4.38%

Dividends per share, a year at a time

Dividends / free cash flow, FY2025: 51.3%
Raised: 32 years in a row
Growth, 5 yrs: 15.5% a year
Last change: −54.4% · May 2026

Every payment, with ex-dates · latest $0.655, paid Sep 10, 2026

Research on TRI

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How it is valued

Valued asDividend Payer

Low/slowing growth (~5% recent)High profitability (20% net margin)Pays dividendsHighly cyclical earnings

What growth the price implies: the reverse DCF

Key figures

FY2025

P/E

32.1×

EV / EBITDA

16.0×

FCF yield

4.2%

Dividend yield, TTM

3.67%

Beta

0.17

Cost of capital (WACC)

6.92%

On the lists: #35 Dividend growth streaks

Full financials

Superinvestors

13F · Q2 2026

BridgewaterBridgewater Associates, LP$3.4M

All 1 holders

Analyst actions

third-party, quoted

10-13Morgan Stanley · target110.00

08-06Scotiabank · target135.00

06-30Wells Fargo · target85.00

03-23Wells Fargo · “Equal Weight” from “Overweight”downgrade

Ratings, targets and estimates

Recent

filings, insider trades and key news

09-176-KCurrent report (foreign issuer)09-176-KCurrent report (foreign issuer)09-146-KCurrent report (foreign issuer)09-116-KCurrent report (foreign issuer)08-066-KCurrent report (foreign issuer)

59 filings · 0 insider transactions

Comparable companies

by business, not by industry label

SPGIS&P Global FDSFactSet VRSKVerisk Analytics MCOMoody's MSCIMSCI ITGartner

4 more companies list TRI as a comparable

NWSNews Corp (Class B)NWSANews Corp (Class A)EFXEquifax CSGPCoStar Group

The weekly

One email a week across every stock we cover: 13F filings, insider trades, earnings and new research. It covers the whole market, not just TRI. No account.

About Thomson Reuters

Thomson Reuters Corporation delivers essential business information services worldwide, with operations spanning the Americas, Europe, the Middle East, Africa, and the Asia Pacific region. The company is structured into five distinct divisions: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. For legal professionals, including law firms and governmental bodies, the Legal Professionals segment furnishes integrated workflow solutions. These comprehensive offerings blend specialized content, sophisticated tools, and powerful analytics to enhance legal research and operational efficiency. The Corporates segment provides a robust suite of technology solutions, infused with critical content, tailored for professionals navigating corporate legal, tax, regulatory, compliance, and IT landscapes. Serving tax, accounting, and audit specialists primarily within accounting firms, the Tax & Accounting Professionals division focuses on delivering research and workflow products that streamline tax processes and automate related tasks. Reuters News operates as a global news agency, supplying vital business, financial, and international news to media organizations, industry professionals, and the general public, also through industry events. Finally, the Global Print segment continues to offer legal and tax information, predominantly in print format, to its clientele, which includes legal and tax professionals, government entities, law schools, and corporations. The entity, originally known as The Thomson Corporation, officially adopted the name Thomson Reuters Corporation in April 2008. Established in 1851, its global headquarters are situated in Toronto, Canada, and it functions as a subsidiary of The Woodbridge Company Limited.

CEO: Stephen John Hasker
Headquarters: Toronto, ON
Employees: 27,100
IPO: 2002-06-12

Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.