Thomson Reuters Corporation (TRI) fair value: what the stock is really worth
As of Oct 30, 2026: fair value (intrinsic value) of Thomson Reuters Corporation stock $70.79, price $118, that is 40.1% below the price, quality 78 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Our calculation puts a fair price 40% below what the stock costs today.
Quality 78/100
Healthy Growth(revenue 5y +4.6 %/yr in USD)
Highly profitable · 21.2% net margin (TTM)
Low debt
Generates free cash flow
2.1% dividend yield · Sustainable
Wide moat83/100
Broad data
Profit last quarter +47% vs. a year ago.
Mixed vs. peers(8/14)
Fair value $70.79 · Strongly overvalued (−40.1%)
Risks from the AI analysis
🚩General-purpose AI could erode legal and tax research subscriptions🚩LexisNexis with Harvey and Clio with vLex could capture legal research budgets🚩Antitrust lawsuit over Casetext acquisition could lead to remedies or costs
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 1, 2026.
How to read this chart
60‑month range $76.05 – $204.84 · fair‑value band $49.88 – $91.00 · the $118.25 price screens above the $70.79 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 1, 2026.
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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.
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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.
Stock analysis
Thomson Reuters Corporation (TRI) currently trades at $118.25, while our model-based Fair Value estimate is $70.79, 40.1% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $72.80 per share, and 0 of the 22 models we run sit above the $118.25 price.
Bear case: the Dividend Discount group reads lowest at $29.83, and 22 of the 22 models stay below the price. Data coverage for this calculation is high.
Scenario range: $49.88 (bear) to $91.00 (bull), the price of $118.25 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 78/100 (high quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
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.
Key figures
Market cap $51.9B Large · P/E ratio 31.0 · P/S ratio 6.62 · EPS (TTM) $3.81 · Dividend yield 2.1% · Net margin 21.2% · Return on equity 14.2% · Return on assets (EBIT) 9.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 83 out of 100 (medium confidence).
What moves the price
The share trades about 21% below its 52-week high and 55% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −13% fair-value upside, at −40%, TRI screens richer than that median.
Fair Value models
Bear$49.88Fair Value $70.79Bull$91.00
Price $118.25 · Downside -40.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($1.07 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.78/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+3.0%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+4.1%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+4.6%
Start year 2020 (pandemic). Over 10 years: −4.0% a year
Revenue growth 30 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+0.1%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+2.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.2%
Dividend (yield on the price)2.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.1.4% vs 2.2%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.32% → 27%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes more growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+9.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+6.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +7.1% a year for the price and +4.3% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (83 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Negative
Recent news coverage is more negative than average.
AI conclusion: Durable data and subscription advantages support pricing power while other factors appear average and margin stability depends on renewals.
Main risk: General-purpose models such as Claude could provide comparable legal research and workflow tools, reducing demand for Thomson Reuters' paid platforms like Westlaw and CoCounsel and pressuring subscription prices and margins.
Bull case: Thomson Reuters could leverage its proprietary content and fiduciary-grade AI to integrate general models into trusted workflows, expanding its role in professional services and defending subscription value.
Bear case: If general AI tools and rival platforms gain traction while the antitrust case imposes constraints, Thomson Reuters could see core legal and tax subscriptions erode as clients shift to cheaper or more integrated alternatives.
Thomson Reuters has completed its joint venture with KKR for the Global Print business, sharpening its focus on fiduciary-grade AI tools for legal, tax and compliance work. Our models see the shares as overvalued even with the company's solid quality. Will the AI shift generate enough new revenue to justify the current valuation, or will the established content platforms carry most of the weight going forward?
Compare Thomson Reuters Corporation Common Shares with another stock
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Peer Groupⓘ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.Specialty Business Services · 226 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score78 · Top 25%
Fair Value upside−40.1% · Bottom 25%
Profitability
Return on equity (12 months)14.2% · Above median
Return on assets8.4% · Top 25%
Net margin (12 months)21.2% · Top 25%
Operating margin (12 months)28.3% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)9.5% · Above median
Dividend yield (12 months)2.1% · Below median
Balance sheet
Debt / equity0.11× · Below median
Valuation Multiplesvs Specialty Business Services median · lower = cheaper
P/E (12 months)31.0× · Pricier than median
P/B4.35× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months)6.62× · Priciest 25%
Price / free cash flow25.3× · Priciest 25%
EV/EBITDA23.0× · Priciest 25%
PEG1.22× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 42
FUTURE (revenue growth)48· sector 34
PAST (return on equity)57· sector 38
HEALTH (low debt)94· sector 94
DIVIDEND (yield)43· sector 57
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Thomson Reuters Corporation Common Shares Fair Value". https://www.fairvalue-calculator.com/stock/TRI
Frequently asked questions
Is Thomson Reuters Corporation (TRI) overvalued or undervalued?
As of Nov 1, 2026, our model estimates a fair value of $70.79 versus a price of $118.25, about 40% lower (overvalued).
What is the fair value of TRI?
Our model-based fair value for Thomson Reuters Corporation Common Shares is $70.79 (as of Nov 1, 2026), built from audited fundamentals. The current price: $118.25.
What is the quality score of TRI?
Thomson Reuters Corporation Common Shares has a Quality Score of 78/100. 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 price target for Thomson Reuters Corporation (TRI)?
Our model-based price target is the fair value of $70.79 (as of Nov 1, 2026) from 22 valuation models. Cautious scenario $49.88, optimistic scenario $91.00. It is a calculation from audited fundamentals, not an analyst target.
What is the Thomson Reuters Corporation Common Shares stock forecast for 2026?
Our models put fair value at $70.79, about 40% lower versus a price of $118.25 (overvalued). Cautious scenario $49.88, optimistic scenario $91.00. The calculation is refreshed regularly with new filings.
What is the revenue of Thomson Reuters Corporation (TRI)?
Thomson Reuters Corporation Common Shares reported trailing-twelve-month revenue of about $7.8B (latest available figure, as of Nov 1, 2026).
Does Thomson Reuters Corporation Common Shares pay a dividend?
Thomson Reuters Corporation Common Shares currently shows a dividend yield of 2.15% relative to its recent price (as of Nov 1, 2026).
What growth is priced into Thomson Reuters Corporation (TRI)?
For today's price to be fair in a discounted-cash-flow model, Thomson Reuters Corporation Common Shares would have to grow free cash flow by +9.7 % per year for five years (discount rate 8.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.6 % per year. As of Nov 1, 2026.
What discount rate (WACC) does the fair value of TRI use?
Our models discount Thomson Reuters Corporation Common Shares at 8.1 %: a base by market capitalisation (large), damped by beta 0.20, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Thomson Reuters Corporation Common Shares that is +9.7 % per year a year over ten years, using the same discount rate (8.1 %) and the same formula as our fair value.
How much growth has Thomson Reuters Corporation (TRI) delivered so far?
Over the past 5 years revenue at Thomson Reuters Corporation Common Shares grew +4.6 % a year. The price currently implies +9.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Thomson Reuters Corporation (TRI) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Thomson Reuters Corporation Common Shares (+9.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Thomson Reuters Corporation (TRI)?
The free-cash-flow yield on the price is 3.96 %: that much free cash flow Thomson Reuters Corporation Common Shares produces per unit of market value. When it exceeds the discount rate of our models (8.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Thomson Reuters Corporation (TRI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Thomson Reuters Corporation Common Shares it is $70.79 per share (as of Nov 1, 2026), against a price of $118.25. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Thomson Reuters Corporation Common Shares stock overvalued or undervalued in 2026?
As of Nov 1, 2026, TRI trades above its calculated fair value: price $118.25, fair value $70.79, a gap of about −40% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TRI?
No. The price is what the market pays today ($118.25); the fair value is what the company's own numbers justify ($70.79). For Thomson Reuters Corporation Common Shares the two are $47.46 per share apart. That gap is exactly why we show both numbers side by side.
How much is Thomson Reuters Corporation Common Shares worth?
The market values Thomson Reuters Corporation Common Shares at about $51.9B (market capitalisation, as of Nov 1, 2026). Per share that is $118.25; our models calculate a fair value of $70.79 per share.
What do the bullish and bearish scenarios say about TRI?
Our models span a range for Thomson Reuters Corporation Common Shares: cautious scenario $49.88, base $70.79, optimistic $91.00 per share (as of Nov 1, 2026, price $118.25). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TRI?
Thomson Reuters Corporation Common Shares trades at a price-to-earnings ratio of 31.0 (as of Nov 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $70.79 is built from several models across several years. Other multiples: PEG 1.2, P/B 4.4, P/S 6.6, EV/EBITDA 23.0.
What is the PEG ratio of TRI?
The PEG ratio of Thomson Reuters Corporation Common Shares is 1.22 (P/E divided by earnings growth, as of Nov 1, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Thomson Reuters Corporation (TRI)?
Balance-sheet figures for Thomson Reuters Corporation Common Shares (as of Nov 1, 2026): return on equity 14.2%, debt of 0.11 per unit of equity. They feed the Quality Score of 78/100, which measures business quality independently of the share price.
How far is TRI from its 52-week high?
Thomson Reuters Corporation Common Shares trades at $118.25, about 21% below its 52-week high of $149.42 and 55% above the low of $76.05 (as of Oct 30, 2026). Distance from the high says nothing about value: that is what the fair value of $70.79 is for.
Which stocks are comparable to Thomson Reuters Corporation Common Shares?
From the same area (Industrials) we also value Cintas Corporation, Copart, Inc, Global Payments Inc, Wolters Kluwer N.V, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Thomson Reuters Corporation Common Shares stock attractive at the current price?
The data as of Nov 1, 2026: price $118.25, calculated fair value $70.79 (−40%), Quality Score 78/100, from 22 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TRI calculated?
We run Thomson Reuters Corporation Common Shares through 22 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $70.79, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.9 % above its aggregate fair value. Thomson Reuters Corporation Common Shares itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Thomson Reuters Corporation (TRI)?
The closing price on Oct 30, 2026 was $118.25. Our model-based fair value is $70.79, about 40% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Thomson Reuters Corporation Common Shares right now?
A high-quality business (quality 78/100), 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 ($91.00). The favourable scenario is already priced in. A fairly wide model range ($49.88 to $91.00) leaves room in how you read the outcome.
Where does the earnings growth of Thomson Reuters Corporation (TRI) come from?
Earnings per share at Thomson Reuters Corporation Common Shares grew +4.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share −0.9 %, EBIT margin +7.5 %, tax rate −1.0 %, residual (interest, one-offs) −0.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Thomson Reuters Corporation Common Shares
How large is the market capitalisation of Thomson Reuters Corporation (TRI)?
The market capitalisation of Thomson Reuters Corporation Common Shares is $51.9B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Thomson Reuters Corporation (TRI)?
The price-to-sales ratio of Thomson Reuters Corporation Common Shares is 6.62 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Thomson Reuters Corporation (TRI)?
Earnings per share at Thomson Reuters Corporation Common Shares are $3.81 (price ÷ EPS = P/E 31.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Thomson Reuters Corporation (TRI)?
The dividend yield of Thomson Reuters Corporation Common Shares is 2.1% (payout 66.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Thomson Reuters Corporation (TRI)?
The net margin of Thomson Reuters Corporation Common Shares is 21.2% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Thomson Reuters Corporation (TRI)?
The return on equity (ROE) of Thomson Reuters Corporation Common Shares is 14.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Thomson Reuters Corporation (TRI)?
On an EBIT basis the return on assets of Thomson Reuters Corporation Common Shares is 9.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Thomson Reuters Corporation (TRI)?
The operating margin of Thomson Reuters Corporation Common Shares is 28.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Thomson Reuters Corporation (TRI)?
Revenue at Thomson Reuters Corporation Common Shares is growing +9.5% versus a year earlier (3y avg +4.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Thomson Reuters Corporation (TRI)?
Earnings per share at Thomson Reuters Corporation Common Shares are growing +47.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Thomson Reuters Corporation (TRI) carry?
The net debt of Thomson Reuters Corporation Common Shares is $1.6B (fiscal year 2025, ≈ 0.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 1, 2026