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Thomson Reuters Corporation Common Shares (TRI) Fair Value & Analysis

Industrials · US · Market cap $35.2B · ISIN CA8849038812

What is Thomson Reuters Corporation Common Shares really worth?

TR Thomson Reuters Corporation Common Shares logo Thomson Reuters Corporation Common Shares TRI · US
Price$111.76
Fair Value$68.90
Upside−38.4%
Quality77/100

A strong business, but trading 62% above our fair value of $68.90.

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Strengths

Healthy Growth (revenue 5y +4.6 %/yr)
Solidly profitable · 19.9% net margin
Low debt · generates free cash flow
Wide moat 82/100

Risks

!Mixed vs. peers (8/15)

For context

·2.22% dividend yield
Evidence: High Range $47.41 – $90.32

Fair value as of: Aug 30, 2026

From 24 valuation models · updated 6 days ago

Share price +2.4% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • A high-quality business (quality 77/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case ($90.32). The favourable scenario is already priced in.
  • A fairly wide model range ($47.41 to $90.32) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

$206.35 $76.55 Fair Value $68.90 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.

How to read this chart

60‑month range $76.55 – $206.35 · fair‑value band $47.41 – $90.32 · the $111.76 price screens above the $68.90 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 30, 2026.

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Analysis

Thomson Reuters Corporation Common Shares (TRI) currently trades at $111.76, while our model-based Fair Value estimate is $68.90, implying the stock looks roughly 62.2% overvalued today. The Quality Score stands at 77/100 (high quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of $61.65 per share, and 0 of the 24 models we run sit above the $111.76 price. Bear case: the Asset-Based group reads lowest at $18.29, and 24 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Thomson Reuters Corporation Common Shares generated revenue of $7.7B at a net margin of 19.9%. Revenue grew 9.8% year over year. It earns a return on equity of 12.7%. Net debt stands at $1.6B. Fundamentals as of Aug 30, 2026

Our scenario range runs from $47.41 (bear case) to $90.32 (bull case); at $111.76, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 47% below its 52-week high and 47% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −17% fair-value upside, at −38%, TRI screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $0.6808 per share, which is 1.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF $45.22 $61.75 $94.98 80
Growth DCF $47.15 $63.35 $93.13 79
Owner Earnings $39.51 $54.03 $83.22 76
All 24 models by family
DCF Models
FCF DCF $45.22 $61.75 $94.98 80
Owner Earnings $39.51 $54.03 $83.22 76
5Y Revenue Exit $28.32 $38.00 $52.61 73
5Y EBITDA Exit $51.08 $76.65 $111.67 75
5Y P/E Exit $44.98 $66.29 $92.67 71
10Y Revenue Exit $33.88 $43.10 $53.09 68
10Y EBITDA Exit $48.41 $68.43 $90.90 69
10Y P/E Exit $44.68 $61.65 $78.74 65
Earnings-Based
Graham-Dodd $23.40 $37.28 $44.86 67
EPV $32.29 $37.99 $42.97 74
Dividend Discount
Gordon GGM $22.24 $26.63 $31.48 69
DDM Multi-Stage $22.24 $29.48 $38.59 67
Multiples
P/E Multiple $54.19 $72.25 $90.32 63
P/S Multiple $25.69 $34.25 $42.81 58
P/B Multiple $43.87 $58.49 $73.11 55
EV/EBIT $56.22 $75.59 $94.95 66
EV/EBITDA $63.69 $85.54 $107.39 67
EV/Revenue $19.71 $28.95 $38.20 53
Asset-Based
NCAV (Graham) $13.65 $18.29 $27.29 54
Growth DCF
Growth DCF $47.15 $63.35 $93.13 79
Rev-Margin DCF $28.32 $39.07 $53.15 73
Economic Profit
Residual Income $25.78 $30.32 $52.48 74
ROIC Compounder $32.53 $39.19 $46.68 72
Growth Earnings
Growth-Adj P/E $38.27 $54.67 $71.07 67

Widest divergence: DCF Models ($61.65) versus Asset-Based ($18.29). Highest evidence: FCF DCF (80).

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Key figures & financial health

P/E ratio 32.1
P/S ratio 6.45 P/E × margin
EPS (TTM) $3.48 price ÷ EPS = P/E 32.1
Dividend yield 2.2% payout 71.2%
Net margin 20.1% FY2025
Return on equity 12.7% TTM
More key figures
Profitability
Return on assets (EBIT) 9.8% avg 5y
Operating margin 30.3% TTM
Growth
Revenue (TTM) $7.7B TTM
Revenue growth (YoY) +9.8% 3y avg +4.1%
EPS growth (YoY) +5.6%
Balance sheet & cash flow
Free cash flow $2.1B FY2025
Net debt $1.6B FY2025 · ≈ 0.8 yrs of FCF

Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 77/100

Of which business quality 72 · Market factors (momentum, volatility) 41

Profitability 54
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 89
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 63
Calm price path (market factor)
Momentum 44
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 92
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Thomson Reuters Corporation operates as a content and technology company in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through five segments: Legal Professionals, Corporates, Tax, Audit & Accounting Professionals, Reuters News, and Global Print.

Full company description

Thomson Reuters Corporation operates as a content and technology company in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through five segments: Legal Professionals, Corporates, Tax, Audit & 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-driven technologies, including generative AI and integrated compliance workflow solutions to small businesses and multinational organizations. Tax, Audit & Accounting Professionals segment offers research and workflow products to tax, audit, and accounting firms. The Reuters News segment provides business, financial, and international news to media organizations, professional, and news consumers through Reuters News Agency, Reuters.com, Reuters Events, Thomson Reuters products, and to financial firms. The Global Print segment offers legal and tax information primarily in print format. 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 1799 and is headquartered in Toronto, Canada. Thomson Reuters Corporation is a subsidiary of The Woodbridge Company Limited.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Thomson Reuters Corporation Common Shares reported revenue of $7.5B in FY2025 versus $6.3B in FY2021, a compound +4.2%/yr. Reported net income was $1.5B in FY2025, compounding −28.3%/yr from FY2021.

Growth Quality 78/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$7.5B
Latest YoY
+3.0%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.1%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.6%
Avg. revenue growth/yr (30Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+0.1%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, adjusted) plus dividend yield: value created per share and year.
+2.4% (0.2 + 2.2)
Revenue +4.2%/yr
FY21 $6.3B
FY22 $6.6B
FY23 $6.8B
FY24 $7.3B
FY25 $7.5B
Net income −28.3%/yr
FY21 $5.7B
FY22 $1.3B
FY23 $2.7B
FY24 $2.2B
FY25 $1.5B
Character of growth · EPS growth decomposed (2014-2025) +4.9 % p.a.
Revenue per share −0.9 %

of which total revenue −5.3 % · buybacks/dilution +4.6 %

EBIT margin +7.5 %
Tax rate −1.0 %
Residual (interest, one-offs) −0.5 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

TRI screens 62% overvalued. Compare with Cintas Corporation →

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Cite: Fair Value Calculator (2026). "Thomson Reuters Corporation Common Shares Fair Value". https://www.fairvalue-calculator.com/stock/TRI

Peer Group

Specialty Business Services · 248 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 77 · Top 25%
Fair Value upside −38% · Below median
Return on equity (TTM) 13% · Above median
Return on assets 7% · Top 25%
Net margin (TTM) 20% · Top 25%
Operating margin (TTM) 30% · Top 25%
Revenue growth 10% · Above median
Dividend yield (TTM) 2.2% · Below median
Debt / equity 0.11× · Lower than median

Valuation Multiples vs Specialty Business Services median · lower = cheaper

P/E (TTM) 32.1× · Pricier than median
P/B 2.96× · Pricier than median
P/S (TTM) 4.60× · Pricier than 75% of peers
P/FCF 17.2× · Pricier than 75% of peers
EV/EBITDA 16.6× · Pricier than 75% of peers
PEG 1.29× · Cheaper than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 25
FUTURE49 · sector 27
PAST51 · sector 36
HEALTH94 · sector 92
DIVIDEND44 · sector 48

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Specialty Business Services stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).

Stock Price Fair Value vs Fair Value
Cintas Corporation CTAS $204.15 $95.19 −53%
RELX PLC RELX $34.55 $32.24 −7%
Copart, Inc CPRT $32.76 $28.59 −13%
Global Payments Inc GPN $91.05 $68.98 −24%
RB Global, Inc RBA C$119.68 C$68.30 −43%
Brambles Limited BXB A$19.47 A$17.27 −11%
UL Solutions Inc ULS $74.43 $33.62 −55%
Wolters Kluwer N.V WKL €68.88 €101.27 +47%
Aramark ARMK $59.08 $13.18 −78%
Rentokil Initial plc RTO $23.55 $19.63 −17%

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Frequently asked questions

Is Thomson Reuters Corporation Common Shares (TRI) overvalued or undervalued?
As of Aug 30, 2026, our model estimates a fair value of $68.90 versus a price of $111.76, about −38% upside (overvalued).
What is the fair value of TRI?
Our model-based fair value for Thomson Reuters Corporation Common Shares is $68.90 (as of Aug 30, 2026), built from audited fundamentals. The current price: $111.76.
What is the quality score of TRI?
Thomson Reuters Corporation Common Shares has a Quality Score of 77/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Thomson Reuters Corporation Common Shares (TRI)?
Thomson Reuters Corporation Common Shares reported trailing-twelve-month revenue of about $7.7B (latest available figure, as of Aug 30, 2026).
What is the net profit margin of TRI?
The net profit margin of Thomson Reuters Corporation Common Shares is about 19.9%, meaning it keeps roughly 19.9% of revenue as net income. Based on the latest reported figures.
Does Thomson Reuters Corporation Common Shares pay a dividend?
Thomson Reuters Corporation Common Shares currently shows a dividend yield of about 2.22% relative to its recent price (as of Aug 30, 2026).
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