Thomson Reuters Corp (TRI) Stock Price & How to Invest

Thomson Reuters Corporation is a Canadian-domiciled information services company headquartered in Toronto that sells research, workflow software and data to lawyers, accountants, tax professionals, corporate departments and governments. Its three core segments, known internally as the "Big 3" and about 83% of revenue, are Legal Professionals (Westlaw, Practical Law, CoCounsel), Corporates (legal, tax and trade compliance software for in-house teams) and Tax, Audit and Accounting Professionals (ONESOURCE, UltraTax, Checkpoint). It also owns Reuters, the global news agency, and a Global Print business it is now moving into a joint venture with KKR. Roughly 80% of revenue is recurring subscription revenue, which is why the company has compounded earnings and raised its dividend every year for more than three decades. The Woodbridge Company, the Thomson family holding vehicle, owns about 68% to 70% of the shares, so TRI is a controlled company with a long-term owner rather than a widely held one.

The investment picture in 2026 is unusually split between operating results and share price. Fundamentals have been strong: second-quarter 2026 revenue rose 9% to about $1.95 billion, organic growth was 8% with the Big 3 up 10%, adjusted EBITDA margin expanded to about 38%, and management raised full-year guidance to roughly 8% organic growth and about $2.1 billion of free cash flow. The stock nonetheless trades around $100, close to 55% below its July 2025 peak near $218, after a record 17.5% single-day drop on February 3, 2026 when Anthropic released legal and financial plugins for its Claude Cowork agent. That move also hit RELX and Wolters Kluwer, so it was a repricing of the entire professional-information category rather than a company-specific stumble. The bull case is that proprietary content, tax calculation engines and deep workflow integration are not easily replicated by a general-purpose model, and that TRI is itself shipping AI products such as CoCounsel Legal and its own Thomson LLM. The bear case is that agentic AI commoditizes the workflow layer around that content, capping the pricing power that justified a premium multiple.

The dominant risk is AI substitution: if general-purpose agents from firms like Anthropic and OpenAI can perform enough legal drafting, research and financial analysis to displace paid seats, the subscription base and its pricing power both come under pressure, and February 2026 showed how violently the market will reprice that possibility. Thomson Reuters is also spending heavily to defend its position, so AI investment could compress margins before it produces measurable revenue. Concentration in law firms, accounting firms and corporate legal departments ties results to professional-services hiring and billable-hour economics, both of which AI itself may shrink. The Woodbridge Company controls roughly 68% to 70% of the shares, which means minority holders have limited influence over strategy or capital allocation. Reuters News carries separate exposure to media economics and to AI-driven changes in how news is licensed and consumed, and as a Canadian-domiciled issuer TRI also brings currency translation and Canadian withholding-tax considerations for US holders.

12 analysts publish price targets on TRI, averaging $119.50 against a $98.61 price as of August 2026, or +21.2%. The published targets run from $85.00 to $146.00, a moderate spread, and the ratings split 13 buy, 5 hold, 0 sell. Over the last six months there have been 2 raises and 9 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full TRI forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Thomson Reuters Corp. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. AI products built on proprietary content. Thomson Reuters bought Casetext for $650 million in 2023 and has since built CoCounsel into an AI assistant that crossed one million users in early 2026, followed by the CoCounsel Legal release and internal evaluation of a purpose-built Thomson LLM. The most optimistic published target, $146.00, assumes this works close to its best case.

The case against. The dominant risk is AI substitution: if general-purpose agents from firms like Anthropic and OpenAI can perform enough legal drafting, research and financial analysis to displace paid seats, the subscription base and its pricing power both come under pressure, and February 2026 showed how violently the market will reprice that possibility. The most pessimistic target, $85.00, is roughly what TRI is worth if this bites instead.

Read the full bull and bear case on TRI, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Thomson Reuters Corp's investor relations page or your broker.

• Revenue (TTM): ~$7.8B
• Q2 2026 revenue: ~$1.95B, +9% (organic +8%)
• Adjusted EBITDA margin (Q2 2026): ~38.1%
• Net income (TTM): ~$1.7B
• Market cap: ~$47B
• P/E (trailing / forward): ~26x / ~21x

Thomson Reuters reported second-quarter 2026 revenue of about $1.95 billion, up 9%, with adjusted EPS of $0.99 and free cash flow of $727 million, and raised full-year guidance to roughly 8% organic growth on about $8.07 billion of revenue. At a share price near $100 the stock carries a trailing P/E in the mid-20s and a forward P/E near 21, well below the premium multiple it held before the February 2026 AI selloff. Figures are approximate, drawn from the company's Q2 2026 release and market data as of early August 2026, and the annualized dividend of $2.62 per share works out to a yield in the mid-2% range at that price.

Other names that sit close to TRI: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get TRI exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so TRI sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where TRI fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

TRI pairs a genuinely durable, cash-generative subscription franchise with an unresolved question about whether general-purpose AI agents can erode the professional workflows it monetizes, and the 2026 derating means the stock now prices in far more of that doubt than it did a year ago.

Whether TRI is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is TRI a buy or a sell?, and where the stock could go from here in the TRI stock forecast.

For income investors, whether TRI pays a dividend and how the payout looks is covered in does TRI pay a dividend? And to weigh TRI against a peer, read the full side-by-side comparisons: TRI vs INTU and TRI vs VERX.