TRI

MKT CAP:$40B

Thomson Reuters Corporation

Market Cap

$40B

Industrials·Specialty Business Services·🇨🇦 Canada·NASDAQ

Industrials·Specialty·🇨🇦·NASDAQ

Stock Price

$89.27-$37.09 (-29.35%)

Apr 24, 2026

Company Details

Thomson 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, Reuter...

CEO

Stephen John Hasker

IPO Date

Jun 12, 2002

Website

www.tr.com

Key Metrics TTM

Revenue

$7.0B

— YoY

Net Income

$2.2B

EPS (Diluted)

$4.86

Free Cash Flow

$2.0B

Revenue / Share

$15.60

Gross Margin

76.7%

Operating Margin

30.9%

Net Margin

31.6%

FCF Margin

28.6%

P/S

5.7x

P/E

17.9x

Earnings Reports

Q4 2025

May 5, 2026

PENDING

Q3 2025

Nov 4, 2025

$1.8BEPS $0.94

Q4 2024

Mar 6, 2025

$1.9BEPS $1.26

Q2 2024

Jun 28, 2024

$1.7BEPS $1.86

FY 2023

Mar 7, 2024

$6.8B+2.5%EPS $5.90

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 17	$1.3B	$504M	$274M
Q2 21	$1.5B	$1.3B	$316M
Q3 21	$1.5B	$1.2B	$282M
Q3 23	$1.6B	$1.3B	$441M
Q2 24	$1.7B	$1.3B	$415M
Q4 24	$1.9B	$1.4B	$722M
Q3 25	$1.8B	$1.4B	$593M

Valuation

Quarter	P/S	P/E
Q1 17	—	—
Q2 21	—	—
Q3 21	—	—
Q3 23	9.2x	37.1x
Q2 24	11.8x	37.1x
Q4 24	10.7x	46.6x
Q3 25	10.0x	31.7x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 17	-$365M	-$577M
Q2 21	$444M	$332M
Q3 21	$539M	$408M
Q3 23	$668M	$524M
Q2 24	$703M	$551M
Q4 24	$552M	$395M
Q3 25	$697M	$537M

Capital Expenditures

Quarter	CapEx
Q1 17	$211M
Q2 21	$112M
Q3 21	$131M
Q3 23	$144M
Q2 24	$152M
Q4 24	$157M
Q3 25	$160M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 24	+30.7%	+25.4%
Q4 24	+24.6%	-2.4%
Q3 25	+16.8%	-4.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 17	$0	0.0%
Q2 21	$0	0.0%
Q3 21	$0	0.0%
Q3 23	$0	0.0%
Q2 24	$0	0.0%
Q4 24	$0	0.0%
Q3 25	$0	0.0%

OpEx Breakdown

Quarter	G&A
Q1 17	$89M
Q2 21	$672M
Q3 21	$664M
Q3 23	$600M
Q2 24	$665M
Q4 24	$690M
Q3 25	$674M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$578M	$49M	$627M
Q2 22	$386M	$175M	$561M
Q3 22	$374M	$375M	$749M
Q4 22	$988M	$204M	$1.2B
Q1 23	$1.6B	$84M	$1.7B
Q2 23	$2.8B	$104M	$2.9B
Q3 23	$2.4B	$118M	$2.5B
Q4 23	$1.2B	$66M	$1.3B
Q1 24	$1.9B	$18M	$1.9B
Q2 24	$1.7B	$17M	$1.7B
Q3 24	$1.6B	$12M	$1.6B
Q4 24	$1.9B	$35M	$1.9B
Q1 25	$1.4B	$35M	$1.4B
Q2 25	$665M	$63M	$728M
Q3 25	$617M	$0	$617M
Q4 25	$511M	$94M	$605M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 17	638M	—	—
Q2 21	479M	-24.9%	—
Q3 21	477M	-0.5%	—
Q3 23	456M	-4.3%	—
Q2 24	451M	-1.1%	-29.3%
Q4 24	451M	-0.1%	-6.0%
Q3 25	450M	-0.1%	-5.6%

Shares Outstanding