Company Valuation: Thomson Reuters Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 58,230 54,882 66,818 72,176 59,005 39,079 - -
Change - -5.75% 21.75% 8.02% -18.25% -33.77% - -
Enterprise Value (EV) 1 61,238 58,574 68,797 73,028 60,617 41,142 40,534 40,176
Change - -4.35% 17.45% 6.15% -16.99% -32.13% -1.48% -0.88%
P/E 10.4x 39.6x 25.3x 32.8x 39.7x 22.5x 19.4x 16.7x
PBR 4.26x 4.62x 6.01x 6.01x 4.94x 3.44x 3.21x 3.19x
PEG - -0.5x 0.3x -2.1x -1.2x 1.3x 1.2x 1x
Capitalization / Revenue 9.17x 8.28x 9.83x 9.94x 7.89x 4.83x 4.48x 4.17x
EV / Revenue 9.65x 8.84x 10.1x 10.1x 8.11x 5.09x 4.65x 4.28x
EV / EBITDA 31.1x 25.1x 25.7x 26.3x 20.6x 12.7x 11.3x 10.3x
EV / EBIT 46.4x 34.4x 33.6x 35.7x 28.8x 16.8x 14.8x 13x
EV / FCF 48.8x 43.7x 36.8x 39.9x 31.1x 19.9x 17.5x 16.1x
FCF Yield 2.05% 2.29% 2.72% 2.5% 3.22% 5.01% 5.73% 6.22%
Dividend per Share 2 1.707 1.876 1.991 2.194 - 2.568 2.748 2.982
Rate of return 1.36% 1.56% 1.34% 1.35% - 2.87% 3.07% 3.33%
EPS 2 12.12 3.035 5.891 4.967 3.382 3.986 4.61 5.374
Distribution rate 14.1% 61.8% 33.8% 44.2% - 64.4% 59.6% 55.5%
Net sales 1 6,348 6,627 6,794 7,258 7,476 8,088 8,714 9,378
EBITDA 1 1,970 2,329 2,678 2,779 2,936 3,240 3,575 3,911
EBIT 1 1,319 1,704 2,050 2,048 2,104 2,444 2,736 3,086
Net income 1 5,689 1,402 2,695 2,210 1,502 1,676 1,930 2,210
Net Debt 1 3,008 3,692 1,979 852 1,612 2,063 1,455 1,097
Reference price 2 125.95 120.25 149.00 162.94 134.18 89.59 89.59 89.59
Nbr of stocks (in thousands) 462,331 456,400 448,458 442,967 439,762 436,205 - -
Announcement Date 2/8/22 2/9/23 2/8/24 2/6/25 2/5/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
22.48x5.09x12.7x2.87% 39.08B
26.35x8.95x16.87x0.91% 127B
29.88x14.24x22.92x1.37% 44.02B
23.68x3.65x11.55x1.3% 19.82B
24.84x5.07x12.85x2.88% 15.9B
11.57x2.77x8.36x4.45% 15.48B
17.75x3.65x10.33x0.68% 14.46B
16.41x3.99x10.66x1.82% 8.79B
58.9x - - 0.49% 4.89B
Average 25.76x 5.93x 13.28x 1.86% 32.21B
Weighted average by Cap. 25.13x 7.89x 15.65x 1.58%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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