TRI changes
Pick any two versions below to diff them.
- Price
- CA$154.15 → CA$161.89(+5.0%)
- Discount
- 13% to 30% → 9% to 26%(−4.0 pts)
- About
- Thomson Reuters is a content and technology company based in Toronto. It sells information, software and AI tools to lawyers, tax and accounting professionals, corporations and governments, and it owns the Reuters news agency. Its three largest segments, the "Big 3", are Legal Professionals (including Westlaw and the CoCounsel AI assistant), Corporates and Tax, Audit & Accounting Professionals; together they were 83% of revenue in Q2 2026. The other segments aresegment is Reuters and. On October 1, 2026, it sold 51% of its Global Print business to KKR, and it keeps 49% of the new joint venture, Westbridge Print. About 82% of revenue is recurring, mostly from subscriptions. Revenue was $1.95 billion in Q2 2026. The Thomson family, through Woodbridge, controls the company. Its shares trade on the Toronto Stock Exchange and on Nasdaq; this page uses the Toronto price in Canadian dollars.
- Risks
- Generative AI tools can answer legal, tax and compliance questions. If customers use them instead of Westlaw and its other products, or pay lower prices, growth can slow. Thomson Reuters spends heavily on AI products and acquisitions. If these products do not win customers, the costs can lower margins and returns. Reuters news grows slowly, and the Globalprint revenue at Westbridge Print business grow slowly or, the joint venture in which Thomson Reuters keeps 49%, can shrink. The GlobalLower print sales lower the royalty that Westbridge Print joint venture with KKR still needs regulatory approvalspays. Woodbridge, the Thomson family company, controls Thomson Reuters. Minority shareholders have little influence on major decisions.
- Recent events
- 2026-10-19: Thomson Reuters said that it will report Global Print as discontinued operations from Q3 2026. On this basis, its Q3 2026 outlook becomes about 9% organic revenue growth and an adjusted EBITDA margin of about 35%, compared with about 8% and 36% before. Westbridge Print will pay Thomson Reuters a royalty of 20% of its Professional revenue. Thomson Reuters expects the deal to add 60 to 70 basis points to annual organic growth, with about no effect on the margin. It will give a revised 2026 outlook on November 3, 2026. 2026-10-01: Thomson Reuters closed the sale of a 51% stake in its Global Print business to KKR. It keeps 49% of the joint venture, which now operates as Westbridge Print. It expected about $500 million of gross proceeds. 2026-09-29: Thomson Reuters said that it will report Q3 2026 results on November 3, 2026. 2026-09-17: Thomson Reuters closed its sale of US$1.3 billion of notes, 5.100% notes due 2028 and 5.750% notes due 2033, and a private placement of C$1.0 billion of notes due 2029 and 2031. It will use the money mainly to repay commercial paper. 2026-08-05: Thomson Reuters reported Q2 2026 results. Revenue rose 9% to $1.95 billion and organic revenue rose 8%, with 10% organic growth in the Big 3 segments. The adjusted EBITDA margin was 38.1% and adjusted EPS rose 14% to $0.99. Free cash flow rose to $727 million. It raised its 2026 revenue growth outlook to about 8%. 2026-07-14: Thomson Reuters agreed to sell a 51% stake in its Global Print business to KKR for about $500 million in gross proceeds and to keep 49% of a new joint venture. It expects the deal to close in Q4 2026. 2026-05-05: Thomson Reuters reported Q1 2026 results. Revenue rose 10% to $2.09 billion and organic revenue rose 8%. On May 4, 2026, it completed a $605 million return of capital with a share consolidation. In February 2026, it raised its annual dividend by 10% to $2.62 per share and announced a $600 million buyback, which it completed in Q2 2026.