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Thomson Reuters

TSX:TRI
Snowflake Description

Moderate growth potential second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TRI
TSX
CA$38B
Market Cap
  1. Home
  2. CA
  3. Diversified Financials
2018/01/19
Company description

Thomson Reuters Corporation provides news and information for professional markets worldwide. More info.


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3 Month History
TRI
Industry
5yr Volatility vs Market

Value

 Is Thomson Reuters undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Thomson Reuters to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.

How is this discounted cash flow calculated?

  • The current share price of Thomson Reuters is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Thomson Reuters's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Thomson Reuters's earnings available for a low price, and how does this compare to other companies in the same industry?
  • Thomson Reuters is overvalued based on earnings compared to the CA Capital Markets industry average.
  • Thomson Reuters is overvalued based on earnings compared to the CA market.
Price based on expected Growth
Does Thomson Reuters's expected growth come at a high price?
  • Thomson Reuters is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Thomson Reuters's assets?
  • Thomson Reuters is overvalued based on assets compared to the CA Capital Markets industry average.
X
Value checks
We assess Thomson Reuters's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Thomson Reuters has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
    Note 2: PEG ratio is based on analysts EPS growth expectations in 1 year (21.84%).

    Full details on the Value part of the Simply Wall St company analysis model.
X
Discounted cash flow (Excess Returns Model)

The calculations below outline how an intrinsic value for Thomson Reuters is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.



Value of Excess Returns

Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)

$1.17 = (14.74% – 8.43%) * $18.58)

Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)

$18.62 = $1.17 / (8.43% - 2.13%)

Value of Equity = Book Value per share + Terminal Value of Excess Returns

$37.19 = $18.58 + $18.62

Inputs used in model:

Stable EPS = Stable Book Value * Return on Equity
$2.74 = $18.58 * 14.74%
Source: Weighted future Return on Equity estimates from 5 analysts.

Book Value of Equity per Share: $18.58
Source: Weighted future Book Value estimates from 6 analysts.

Expected Growth Rate: 2.13%
Source: Risk Free Rate/ 10 year Government Bond Rate in CAD.

Discount to Share Price

Value per share (USD): $37.19

Exchange rate USD/CAD = 1.245

Value per share (CAD): CA$46.29

Current discount (share price of CA$54.22): -17.14%



Estimate of Discount Rate

The discount rate, or required rate of return, is estimated by calculating the Cost of Equity.

Discount rate = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)

Discount rate = 8.43% = 2.13% + (0.8 * 7.87%)



Estimate of Bottom Up Beta

The Levered Beta is the Unlevered Beta adjusted for financial leverage. It is limited to 0.8 to 2.0 (practical range for a stable firm). Note the market value of equity is used not the book value (CA$38,458,358,994).

Levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))

0.632 = 0.543 (1 + (1- 31%) (23.81%))

Levered Beta used in calculation = 0.8



Assumptions
  1. The risk free rate of 2.13% is from the 10 year government bond rate in CAD.
  2. The bottom-up beta is estimated by analysing other companies in the same industry.
  3. The Equity Risk Premium is calculated by subtracting the risk free rate from the market return premium (7.87%) (source: Buffet).
  4. The dividend discount model is automatically used for companies in the following industries: Banks, Insurance, Real Estate Investment Trusts (REITs), Diversified Financial Services and Capital Markets.

Future Performance

 How is Thomson Reuters expected to perform in the next 1 to 3 years based on estimates from 18 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
22.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Thomson Reuters expected to grow at an attractive rate?
  • Thomson Reuters's earnings growth is expected to exceed the low risk savings rate of 3.5%.
Growth vs Market Checks
  • Thomson Reuters's earnings growth is expected to exceed the CA market average.
  • Thomson Reuters's revenue growth is positive but not above the CA market average.
Annual Growth Rates Comparison
Analysts growth expectations
Super high growth metrics
High Growth Checks
  • Thomson Reuters's earnings are expected to grow significantly at over 20% yearly.
  • Thomson Reuters's revenue is expected to grow by 2.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Thomson Reuters is not expected to perform strongly, Return on Equity (ROE) in 3 years is estimated to be below 20%.

Improvement & Relative to industry
  • Performance (ROE) is expected to be above the current CA Capital Markets industry average.
  • An improvement in Thomson Reuters's performance (ROE) is expected over the next 3 years.
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Future performance checks
We assess Thomson Reuters's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the CA market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the CA market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Thomson Reuters has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Thomson Reuters performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Thomson Reuters's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Thomson Reuters's year on year earnings growth rate has been positive on average over the past 5 years.
  • Thomson Reuters's 1 year earnings growth is negative, it can't be compared to the 5 year average.
  • Thomson Reuters's 1 year earnings growth is negative, it can't be compared to the CA Capital Markets industry average.
Earnings and Revenue History
Thomson Reuters's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Poor return on shareholders funds (ROE < 20%) last year.
  • Thomson Reuters performed worse than the CA Capital Markets industry average based on Return on Assets (ROA) last year.
  • Performance based on Return on Capital Employed (ROCE) has been diminishing over 3 years.
X
Past performance checks
We assess Thomson Reuters's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Thomson Reuters has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Thomson Reuters's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Thomson Reuters's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Thomson Reuters's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Thomson Reuters's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Thomson Reuters's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Total debt is not covered by total short term assets, assets are 0.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
  • Thomson Reuters's level of debt (55.6% of total debt) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (41.9% vs 55.6% today).
  • Total debt is well covered by annual operating cash flow (30.9%, greater than 20% of total debt).
  • Interest on debt is well covered by earnings (EBIT is 5.2x coverage).
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Financial health checks
We assess Thomson Reuters's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by short term assets? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Thomson Reuters has a total score of 2/6, see the detailed checks below.


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Thomson Reuters's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.55%
Current annual income from Thomson Reuters dividends. Estimated to be 3.33% next year.
If you bought CA$2,000 of Thomson Reuters shares you are expected to receive CA$51 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Paying above low risk savings rate (2.25%).
  • Paying below markets top dividend payers (3.18%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Thomson Reuters's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by net profit (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by net profit (1.9x coverage).
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Income/ dividend checks
We assess Thomson Reuters's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.5%) - if not then the rest of the checks are ignored.
  2. Current dividend yield, is there one at all, is it higher than the low risk savings rate, and is it above the top 25% of dividend payers? (2 checks)
  3. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  4. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  5. How sustainable is the dividend, can Thomson Reuters afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  6. Thomson Reuters has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Thomson Reuters's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jim Smith, image provided by Google.
Jim Smith
COMPENSATION $13,412,091
AGE 57
TENURE AS CEO 6 years
CEO Bio

Mr. James C. Smith, also known as Jim, has been the Chief Executive Officer and President of Thomson Corporation (Now Thomson Reuters Corporation) since January 2012. Mr. Smith served as chief operating officer of Thomson Corporation from September 28, 2011 to December 2011 and previously since January 1, 2007. He served as Chief Executive Officer of Professional Division of Thomson Corporation form April 2008 to September 2009 and served as its President of Professional division. He served as Chief Executive Officer of Professional Division at Thomson Reuters UK Limited. He served as Executive Vice President of Thomson Corporation. Mr. Smith served as President and Chief Executive Officer of Thomson Learning’s Academic and Reference/International Group of Thomson Corporation since April 2005. Following the sale of the Newspaper Group in 2000, he joined the Thomson Corporate Office and served as an Executive Vice President of Human Resources and Administration of Thomson Corporation since December 2001. He served as an Executive Vice President of Development and Corporate Affairs of Thomson Corporation since January 2002. He was responsible for Human Resources, Succession Planning, Training and Development, Organizational Development and various administrative activities for Thomson Corporation. He oversaw the Thomson's professional business information segments, including North American legal, tax and accounting, international legal and regulatory, healthcare and scientific. Mr. Smith joined Thomson Newspaper Group in 1987. He has worked for Thomson Corporation for 15 years, primarily in Newspaper Group that sold and held a number of operating positions. He began his career as a Journalist and held several Editorial and General Management positions prior to joining Thomson. He led a number of professional publishing businesses serving the legal, regulatory and academic markets. He has been a Non-Independent Director at Thomson Corporation since January 2012. He has been an Independent Director at Pfizer Inc. since June 26, 2014. Mr. Smith is a member of the International Business Council of the World Economic Forum and the Board of Directors of the Brazil-U.S. Business Council. He also serves on the board of the World Economic Forum’s Partnering Against Corruption Initiative He serves on the International Advisory Boards of British American Business and the Atlantic Council. Mr. Smith holds a BA from Marshall University.

CEO Compensation
  • Jim's compensation has been consistent with company performance over the past year.
  • Jim's compensation appears reasonable.
Management Team Tenure

Average tenure and age of the Thomson Reuters management team in years:

6.1
Average Tenure
54.5
Average Age
  • The average tenure for the Thomson Reuters management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Jim Smith

TITLE
Chief Executive Officer
COMPENSATION
$13M
AGE
57
TENURE
6 yrs

Stephane Bello

TITLE
Chief Financial Officer and Executive Vice President
COMPENSATION
$6M
AGE
57
TENURE
6 yrs

Deirdre Stanley

TITLE
Executive Vice President
COMPENSATION
$5M
AGE
52
TENURE
16 yrs

Neil Masterson

TITLE
Chief Transformation Officer and Executive Vice President
COMPENSATION
$4M
AGE
48
TENURE
4.3 yrs

Brian Scanlon

TITLE
Chief Strategy Officer and Executive Vice President
COMPENSATION
$4M
AGE
44
TENURE
4 yrs

Linda Walker

TITLE
Chief Accounting Officer

Stewart Beaumont

TITLE
Chief Technology Officer

Rick King

TITLE
Chief Information Officer and Executive Vice President
AGE
61
TENURE
2.2 yrs

Frank Golden

TITLE
Senior Vice President of Investor Relations
AGE
59

Gus Carlson

TITLE
Chief Communications Officer and Executive Vice President
AGE
58
TENURE
4.1 yrs
Board of Directors Tenure

Average tenure and age of the Thomson Reuters board of directors in years:

4.3
Average Tenure
63
Average Age
  • The tenure for the Thomson Reuters board of directors is about average.
Board of Directors

David Thomson

TITLE
Chairman
COMPENSATION
$600K
AGE
60

Jim Smith

TITLE
Chief Executive Officer
COMPENSATION
$13M
AGE
57
TENURE
6 yrs

David Binet

TITLE
Deputy Chairman
COMPENSATION
$350K
AGE
59
TENURE
3.7 yrs

Peter Thomson

TITLE
Non-Independent Director and Chairman of Woodbridge Company Limited
COMPENSATION
$200K
AGE
52

Dame Alexander

TITLE
Chairman of the Thomson Reuters Founders Share Company
AGE
60

Vance Opperman

TITLE
Lead Independent Director
COMPENSATION
$393K
AGE
74
TENURE
4.2 yrs

Ed Clark

TITLE
Non Independent Director
COMPENSATION
$232K
AGE
70
TENURE
2.3 yrs

Barry Salzberg

TITLE
Independent Director
COMPENSATION
$200K
AGE
63
TENURE
2.3 yrs

Ken Olisa

TITLE
Independent Director and Trustee of Thomson Reuters Foundation
COMPENSATION
$200K
AGE
65
TENURE
10 yrs

Wulf von Schimmelmann

TITLE
Corporate Director
COMPENSATION
$200K
AGE
70
TENURE
1.4 yrs
Recent Insider Trading
  • More shares have been bought than sold by Thomson Reuters insiders in the past 3 months, but not in substantial volumes.
Who owns this company?
X
Management checks
We assess Thomson Reuters's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap and profit (greater than 0.5% of the company's profit + 0.03% of market cap)? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Thomson Reuters has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

Company News

External News
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Simply Wall St News

Is It Too Late To Buy Thomson Reuters Corporation (TSE:TRI)?

According to my valuation model, Thomson Reuters seems to be fairly priced at around 18% above my intrinsic value, which means if you buy Thomson Reuters today, you’d be paying a relatively fair price for it. … Thomson Reuters’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value. … Will you have enough confidence to invest in the company should the price drop below its fair value?

Simply Wall St -

Is Thomson Reuters Corporation (TSE:TRI) Worth $56.9 Based On Its Intrinsic Value?

TSX:TRI Intrinsic Value Dec 19th 17 Deriving TRI's True Value The key belief for this model is, the value of the company is how much money it can generate from its current level of equity capital, in excess of the cost of that capital. … The returns in excess of cost of equity is called excess returns: Excess Return Per Share = (Stable Return On Equity – Cost Of Equity) (Book Value Of Equity Per Share) = (14.01% – 8.43%) * $17.91 = $1.03 Excess Return Per Share is used to calculate the terminal value of TRI, which is how much the business is expected to continue to generate over the upcoming years, in perpetuity. … This is a common component of discounted cash flow models: Terminal Value Per Share = Excess Return Per Share / (Cost of Equity – Expected Growth Rate) = $1.03 / (8.43% – 2.13%) = $16.29 These factors are combined to calculate the true value of TRI's stock: Value Per Share = Book Value of Equity Per Share + Terminal Value Per Share = $17.91 + $16.29 = CA$44.46 Relative to today's price of $56.9, TRI is currently overvalued.

Simply Wall St -

What You Must Know About Thomson Reuters Corporation's (TSX:TRI) Return on Equity

See our latest analysis for TRI Breaking down ROE — the mother of all ratios Return on Equity (ROE) is a measure of TRI’s profit relative to its shareholders’ equity. … Return on Equity = Net Profit ÷ Shareholders Equity ROE is assessed against cost of equity, which is measured using the Capital Asset Pricing Model (CAPM) – but let’s not dive into the details of that today. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity TSX:TRI Last Perf Dec 8th 17 Essentially, profit margin shows how much money the company makes after paying for all its expenses.

Simply Wall St -

Is It Time To Sell Thomson Reuters Corporation (TSX:TRI) Based Off Its PE Ratio?

TRI’s P/E of 29.9x is higher than its industry peers (14.2x), which implies that each dollar of TRI’s earnings is being overvalued by investors. … For example, if you accidentally compared lower growth firms with TRI, then TRI’s P/E would naturally be higher since investors would reward TRI’s higher growth with a higher price. … Alternatively, if you inadvertently compared riskier firms with TRI, TRI’s P/E would again be higher since investors would reward TRI’s lower risk with a higher price as well.

Simply Wall St -

Interested In Thomson Reuters Corporation (TSX:TRI)’s Upcoming $0.35 Dividend? You Have 3 Days Left

Have you been waiting for Thomson Reuters Corporation's (TSX:TRI) upcoming dividend of CA$0.35 per share? … Check out our latest analysis for Thomson Reuters 5 checks you should do on a dividend stock When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Does it pay an annual yield higher than 75% of dividend payers? … Compared to its peers, Thomson Reuters produces a yield of 3.10%, which is high for capital markets stocks but still below the market's top dividend payers.

Simply Wall St -

Company Info

Map
Description

Thomson Reuters Corporation provides news and information for professional markets worldwide. It operates through three segments: Financial & Risk, Legal, and Tax & Accounting. The company sells electronic content and services to professionals primarily on a subscription basis. The Financial & Risk segment offers critical news, information, and analytics enabling transactions and connecting communities of trading, investment, financial, and corporate professionals. This segment also provides regulatory and operational risk management solutions. The Legal segment offers critical online and print information, decision tools, and software and services to support legal, investigation, business, and government professionals. The Tax & Accounting segment provides integrated tax compliance and accounting information, software, and services for professionals in accounting firms, corporations, law firms, and government. Thomson Reuters Corporation also operates Reuters, which provides real-time multimedia news and information services to newspapers, television and cable networks, radio stations, and Websites. The company was formerly known as The Thomson Corporation and changed its name to Thomson Reuters Corporation in April 2008. Thomson Reuters Corporation was founded in 1799 and is based in Toronto, Canada.

Details
Name: Thomson Reuters Corporation
TRI
Exchange: TSX
Founded: 1799
CA$38,458,358,994
709,302,084
Website: http://www.thomsonreuters.com
Address: Thomson Reuters Corporation
333 Bay Street,
Suite 400,
Toronto,
Ontario, M5H 2R2,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX TRI Corporation Common Shares The Toronto Stock Exchange CA CAD 06. Jun 1989
NYSE TRI Corporation Common Shares New York Stock Exchange US USD 06. Jun 1989
DB TOC Corporation Common Shares Deutsche Boerse AG DE EUR 06. Jun 1989
Number of employees
Current staff
Staff numbers
45,700
Thomson Reuters employees.
Industry
Financial Exchanges and Data
Diversified Financials
Company Analysis and Financial Data Status
Area Date
Company Analysis updated: 2018/01/19
Last estimates confirmation: 2018/01/19
Last earnings update: 2017/09/30
Last annual earnings update: 2016/12/31


All dates in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.