---
title: Thomson Reuters (TRI) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/tri
ticker: TRI
as_of: 2026-10-17
sector: Industrials
industry: Specialty Business Services
---
# Thomson Reuters (TRI)

Thomson Reuters (TRI) closed at $109.01 on Oct 16, 2026, overvalued by 16% vs its model value of $93.69 (from a five-year discounted cash flow).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $109.01 (Oct 16, 2026) |
| Model value (from a five-year discounted cash flow) | $93.69 |
| Price vs model | overvalued by 16% vs model |
| Range of that model | $56.50 – $216.34 |
| Market value | $47.2B |
| P/E (fiscal 2025) | 32.1 |
| Net margin (fiscal 2025) | 20.1% |
| Free cash flow (fiscal 2025) | $2.1B |
| Dividend yield (trailing twelve months) | 3.67% |
| Beta | 0.17 |
| Cost of capital (WACC) | 6.92% |
| Business classification | Dividend Payer (Low/slowing growth (~5% recent), High profitability (20% net margin), Pays dividends, Highly cyclical earnings) |

## On the stock lists

| List | Place | Figure | Page |
| --- | ---: | ---: | --- |
| Dividend growth streaks | #35 | 32 years | https://sweetvaluelab.com/lists/dividend-growth-streaks |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 3.67% |
| Dividends per share, last 12 months | $3.41 |
| Dividends / free cash flow (fiscal 2025) | 51.3% |
| Raised | 32 years in a row |
| Growth over 5 years | 15.5% a year |
| Latest payment | $0.655, ex-date Aug 19, 2026, paid Sep 10, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Feb 23, 2022 | $1.66 |
| To Feb 22, 2023 | $1.83 |
| To Nov 15, 2023 | $6.14 |
| To Nov 21, 2024 | $2.17 |
| To Nov 18, 2025 | $2.38 |
| Trailing twelve months (to Aug 19, 2026) | $3.41 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $93.69 | $56.50 | $216.34 |
| DCF · Perpetuity growth · 10y | cross check | $106.88 | $65.72 | $244.69 |
| DCF · EBITDA exit · 5y | cross check | $95.66 | $67.01 | $129.48 |
| DCF · EBITDA exit · 10y | cross check | $108.31 | $74.54 | $153.56 |
| P/E · peers | cross check | $116.27 | $98.73 | $122.46 |
| P/E · own history | cross check | $113.44 | $99.90 | $164.25 |
| PEG | sanity check | $90.38 | $90.38 | $90.38 |
| EV/EBITDA · peers | cross check | $126.29 | $75.84 | $160.80 |
| EV/Revenue · peers | cross check | $134.57 | $37.48 | $221.09 |
| Earnings power value | cross check | $40.76 | $32.86 | $53.02 |
| Dividend discount | cross check | $81.55 | $51.13 | $164.10 |

## Insider activity (SEC Form 4)

No open-market insider buys or sales filed in the past 90 days.

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Sep 17, 2026 | 6-K | Current report (foreign issuer) | https://www.sec.gov/Archives/edgar/data/1075124/000119312526394426/d528636d6k.htm |
| Sep 17, 2026 | 6-K | Current report (foreign issuer) | https://www.sec.gov/Archives/edgar/data/1075124/000119312526393817/d128871d6k.htm |
| Sep 14, 2026 | 6-K | Current report (foreign issuer) | https://www.sec.gov/Archives/edgar/data/1075124/000119312526389596/d127937d6k.htm |
| Sep 11, 2026 | 6-K | Current report (foreign issuer) | https://www.sec.gov/Archives/edgar/data/1075124/000119312526388279/d131394d6k.htm |
| Aug 6, 2026 | 6-K | Current report (foreign issuer) | https://www.sec.gov/Archives/edgar/data/1075124/000119312526338256/tri-20260630.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Bridgewater | 2026-06-30 | 41,160 | $3.4M |

1 tracked managers in all.

## About

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 primari…

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Source: https://sweetvaluelab.com/stocks/tri (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.