Thomson-Reuters Corp

Thomson-Reuters Corp

TRI

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Market Cap$37.76B
Close$

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P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Thomson-Reuters CorpThomson-Reuters Corp24.74.56%13%4.90.3

Earnings Call Q1 2026

May 5, 2026 - AI Summary

Strong Q1 performance; reaffirming 2026 organic growth and margin targets - Organic revenue +8% YoY (accelerating vs +7% across all of 2025), with Big 3 +9% organic growth. - Adjusted EBITDA $881m (+9% YoY) with margin 42.2%; Big 3 EBITDA $829m, margin 46.7%. - Print revenues -5% (in line with expectations). - Surprising/positive: management says performance is ahead of prior expectations, yet still largely within the guidance framework.
Segment momentum (including AI-enabled product adoption) - Legal professionals organic +9%, despite government +1%; legal excluding government accelerated to +11% (from +9% in Q4). - Corporate organic +9%, driven by 8% recurring and 12% transactional, with contributions from Pagero, Confirmation, Westlaw, CoCounsel, and international. - Tax/audit/accounting organic +10%, led by CoCounsel tax/audit, SafeSend, SurePrep, and Latin America; note 2 product updates shifted revenue recognition toward H2, impacting Q1 growth rate timing (but not the full-year confidence). - Reuters organic +6% (agency business + contract with LSEG).
AI strategy: “fiduciary-grade AI” and adoption metrics are building - CEO framed AI in three tiers, emphasizing Thomson’s “fiduciary-grade AI” need for verifiable, deterministic, accountable outputs in law/tax/audit (low tolerance for error). - Claimed differentiators: proprietary authoritative content (Westlaw/Practical Law/Checkpoint/clear), domain expert teams (~2,600), privacy/governance, and customer support. - Westlaw Advantage adoption: Q1 law-firm revenue acceleration to +11%, with adoption faster than prior Westlaw upgrade cycles (exact timeframe: “through 8 months”). - CoCounsel expansion indicators: - AI-enabled advanced features users milestone: 1 million users (Feb). - Monthly CoCounsel legal SKU usage ~4x YoY - Advantage users + deep research searches >7x over last 6 months - CoCounsel tax & audit weekly conversation volume ~5x since September - Thomson proprietary legal LLM (“Thomson”): said to outperform frontier models on specific legal tasks; positioned as model-agnostic optionality for agent tasks, potentially enabling customer access to models using customers’ own information later this year.

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$137.79

Target Price by Analysts

65.2% upsideThomson-Reuters Target Price DetailsTarget Price
$163.18

Current Fair Value

95.6% upside

Undervalued by 95.6% based on the discounted cash flow analysis.

Share Statistics

Market cap$37.76 Billion
Enterprise Value$40.99 Billion
Dividend Yield$3.95 (4.56%)
Earnings per Share$3.4
Beta0.2
Outstanding Shares437,697,962

Return

Return on Equity12.89%ROE
Return on Assets8.48%
Return on Invested Capital15.31%

Valuation & Multiples

P/E Ratio24.71P/E Ratio
PEG429.04PEG
Price to Sales4.91Price to Sales
Price to Book Ratio3.09Price to Book Ratio
Enterprise Value to Revenue5.25
Enterprise Value to EBIT18.51
Enterprise Value to Net Income26
Total Debt to Enterprise0.09
Debt to Equity0.31Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
May 7, 2026
EPS Estimate
$1.19
Average shareholder expectation
Revenue Estimate
$2.01 B
Average shareholder expectation

Next Earnings Call

Expected Date
August 5, 2026
EPS Estimate
$0.96
Average shareholder expectation
Revenue Estimate
$1.89 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.5769▲ 5.27%
Total Calls607,600▲ 155.19%
Total Puts350,500▲ 180.85%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %90.20%▲ 1.37%
Total Invested$36.16B▼ 31.43%
Investors Holding488▼ 22.00%

ESG Score

No data

About Thomson-Reuters Corp

CEO: Steve Hasker

Relevant Senate Committees

Joint Committee on Taxation

This committee is crucial for developing and analyzing tax legislation, providing official revenue estimates. Its work directly influences corporate tax structures and compliance, which is a core area for Thomson Reuters' tax and accounting services.

Finance

This committee controls taxation, trade, and entitlement spending. Its tax policy decisions directly impact Thomson Reuters' corporate profitability and its tax & accounting software/services business. Trade policy also affects global markets covered by TRI's news and financial data.

Agriculture, Nutrition, and Forestry

This committee oversees the CFTC, which regulates the massive derivatives/futures market, directly impacting Thomson Reuters' financial data and analytics services. Its role in defining cryptocurrencies as digital commodities is also directly relevant to TRI's market coverage.

Judiciary

This committee oversees antitrust laws and intellectual property, both of which are critical for Thomson Reuters. Antitrust decisions can affect M&A strategies and competition, while intellectual property is central to TRI's legal content, software, and data licensing businesses.

Banking, Housing, and Urban Affairs

This committee directly regulates the entire financial system, including the SEC and the Fed. As Thomson Reuters operates in the 'Finance and Insurance' sector, its regulations on bank capital, cryptocurrency, and financial markets directly impact TRI's clients and its financial data and software businesses.

Commerce, Science, and Transportation

This committee has vast jurisdiction over interstate commerce, telecommunications (FCC), and consumer protection (FTC). Regulations concerning data privacy, internet neutrality, and 'Big Tech' directly impact Thomson Reuters' operations as a major information and data provider.