# Thomson Reuters Corporation Common Shares (TRI) — Stock CV

Thomson Reuters Corporation is a $44.7B industrial company. Revenue grew 3.0% over the last year, it keeps 20¢ of every dollar of sales as profit, and its net debt equals ~1.1 years of free cash flow. It trades at 26.4× earnings — around the middle of its own history.

> Thomson Reuters is a leading global provider of business information services, delivering trusted data, technology, and expertise to professionals across legal, tax, accounting, risk, compliance, and the news and media sectors.

## Identity

- **Ticker**: TRI
- **Sector**: Industrials
- **Employees**: 27 100
- **Website**: https://www.thomsonreuters.com
- **Market cap**: $44.7B
- **Last price**: $103.21
- **Financial profile**: Solid

## Vitals (FY2025)

- **Revenue**: $7.48B
- **Net income**: $1.50B
- **Free cash flow**: $2.23B
- **Net debt**: $2.51B
- **P/E**: 26.4
- **Revenue growth (YoY)**: 3.0%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 56 |
| Growth | 31 |
| Profitability | 74 |
| Health | 62 |
| Quality | 90 |
| Moat | 63 |

## Qualifications (beginner checklist) — 11 of 11 passed

- [x] Revenue growing — +3.0% YoY
- [x] Profitable — $1.50B FY2025
- [x] Profit growing — +6.6% YoY
- [x] Generates cash — $2.23B FY2025
- [x] Debt under control — ~1.1y of cash flow to repay
- [x] Established company — $44.7B market cap
- [x] Not printing shares — -5.7% shares over ~5y
- [x] Proven track record — 5/5 profitable years
- [x] Financially stable — Altman Z 5.2 — safe
- [x] Pays a dividend — yield 2.45%
- [x] Valuation not extreme — P/E 26.4

## Experience (career milestones)

- **FY2021** — Profitable every year on record: 5 consecutive profitable years in our data
- **FY2021** — Revenue already above $1B: $6.35B in first reported year
- **FY2021** — Positive free cash flow every year since: 5-year streak
- **FY2021** — Best year on record: $5.69B net income
- **2011** — Others include: * On 20 June 2011, Thomson Reuters acquired CorpSmart from Deloitte
- **2008** — Lipper became part of Thomson Reuters in April 2008, following the merger of Thomson Financial and Reuters
- **2008** — Thomson Reuters was created by the Thomson Corporation's purchase of the British company Reuters Group on 17 April 2008
- **1996** — The Thomson Corporation acquired West Publishing, a purveyor of legal research and services (including…
- **1989** — ITOL merged with Thomson Newspapers, forming the Thomson Corporation
- **1967** — He separately acquired the Times in 1967
- **1959** — He bought the Kemsley Group, a purchase that eventually gave him control of the Sunday Times
- **1953** — Thomson acquired the Scotsman newspaper and moved to Scotland the following year
- **1941** — It was acquired by the British National & Provincial Press in 1941
- **1851** — The company was founded in 1851 by Paul Julius Reuter in London as a business transmitting stock market quotations

## Strengths

- High gross margin (95.6%)
- Strongly profitable — 20.0% net margin
- Strong cash conversion — FCF is 29.9% of revenue
- Could repay net debt from ~1.1 years of free cash flow
- Interest covered 13.4× by operating earnings

## Watch-outs

- None stand out in the data.

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $6.35B | $5.69B | $1.32B |
| FY2022 | $6.63B | $1.33B | $1.80B |
| FY2023 | $6.79B | $2.69B | $1.85B |
| FY2024 | $7.26B | $2.21B | $2.02B |
| FY2025 | $7.48B | $1.50B | $2.23B |

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Source: https://stockcv.com/TRI — derived from company filings; may be delayed or incomplete. Information, not investment advice.