Last Price$177.71.5%
Market Cap$77.8B
DCF value
$139.0
Overvalued (DCF value)
(21.8%)
Discount Rate
7.3%
Long-Term Growth Rate
2.0%
Stock quality
6/10
Good
TRI DCF Model
Free Cash Flow to Firm Model
NOPAT Model
Free Cash Flow to Equity Model
Net Income Model
Millions
Billions
| Dec'19 Actual | Dec'20 Actual | Dec'21 Actual | Dec'22 Actual | Dec'23 Actual | Dec'24 Estimate | Dec'25 Estimate | Dec'26 Estimate | Dec'27 Estimate | Dec'28 Estimate | Dec'29 Estimate | Dec'30 Estimate | Dec'31 Estimate | Dec'32 Estimate | Dec'33 Estimate | Dec'34 Terminal | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
% growth | 5,906.0 7.4% | 5,984.0 1.3% | 6,348.0 6.1% | 6,627.0 4.4% | 6,794.0 2.5% | 7,085.3 4.3% | 7,383.1 4.2% | 7,981.8 8.1% | 8,663.2 8.5% | 9,321.9 7.6% | 9,943.7 6.7% | 10,514.0 5.7% | 11,018.8 4.8% | 11,445.0 3.9% | 11,780.8 2.9% | 12,016.4 2.0% |
% margin | 1,199.0 20.3% | 1,929.0 32.2% | 1,242.0 19.6% | 1,834.0 27.7% | 2,332.0 34.3% | 1,972.4 27.8% | 2,055.3 27.8% | 2,221.9 27.8% | 2,411.6 27.8% | 2,595.0 27.8% | 2,768.0 27.8% | 2,926.8 27.8% | 3,067.3 27.8% | 3,186.0 27.8% | 3,279.4 27.8% | 3,345.0 27.8% |
NOPAT % effective tax rate | 2,678.3 45.3% | 1,851.4 30.9% | (651.6) (10.3%) | 1,662.2 25.1% | 2,014.5 29.7% | 1,703.8 24.0% | 1,775.4 24.0% | 1,919.4 24.0% | 2,083.3 24.0% | 2,241.7 24.0% | 2,391.2 24.0% | 2,528.3 24.0% | 2,649.7 24.0% | 2,752.2 24.0% | 2,833.0 24.0% | 2,889.6 24.0% |
% of revenue | 733.7 12.4% | 833.8 13.9% | 763.2 12.0% | 695.3 10.5% | 725.0 10.7% | 783.8 11.1% | 816.7 11.1% | 883.0 11.1% | 958.3 11.1% | 1,031.2 11.1% | 1,100.0 11.1% | 1,163.1 11.1% | 1,218.9 11.1% | 1,266.1 11.1% | 1,303.2 11.1% | 1,329.3 11.1% |
% of revenue | (505.0) (8.6%) | (504.0) (8.4%) | (487.0) (7.7%) | (595.0) (9.0%) | (544.0) (8.0%) | (582.3) (8.2%) | (606.8) (8.2%) | (656.0) (8.2%) | (712.0) (8.2%) | (766.2) (8.2%) | (817.3) (8.2%) | (864.2) (8.2%) | (905.6) (8.2%) | (940.7) (8.2%) | (968.3) (8.2%) | (987.6) (8.2%) |
% of revenue | (247.0) (4.2%) | 102.0 1.7% | 832.0 13.1% | 8.0 0.1% | 457.0 6.7% | 471.3 6.7% | 491.1 6.7% | 530.9 6.7% | 576.2 6.7% | 620.0 6.7% | 661.4 6.7% | 699.3 6.7% | 732.9 6.7% | 761.2 6.7% | 783.6 6.7% | 799.2 6.7% |
Free Cash Flow to Firm (FCFF) % of revenue | 2,660.0 45.0% | 2,283.2 38.2% | 456.6 7.2% | 1,770.5 26.7% | 2,652.5 39.0% | 2,376.5 33.5% | 2,476.4 33.5% | 2,677.2 33.5% | 2,905.8 33.5% | 3,126.7 33.5% | 3,335.3 33.5% | 3,526.6 33.5% | 3,695.9 33.5% | 3,838.8 33.5% | 3,951.5 33.5% | 4,030.5 33.5% |
% of FCFF used in calculation | 100.0% | 81.9% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | ||||||
Discount period | 0.50 | 1.50 | 2.50 | 3.50 | 4.50 | 5.50 | 6.50 | 7.50 | 8.50 | |||||||
Discount factor | 0.97 | 0.90 | 0.84 | 0.78 | 0.73 | 0.68 | 0.63 | 0.59 | 0.55 | |||||||
Discounted FCFF (DFCFF) | 1,958.8 | 2,410.2 | 2,439.0 | 2,446.9 | 2,433.6 | 2,399.1 | 2,344.2 | 2,270.2 | 2,178.7 |
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TRI DCF Value
DCF Value Calculation
as of Mar 07, 2025
Sum of DFCFF
% share of EV
20.9B
33.1%
Terminal Value (TV)
76.7B
Discounted TV
% share of EV
42.3B
66.9%
1,264.0M
Total Debt
3,542.0M
60.9B
Shares outstanding
438.1M
FX rate
1.0
139.0
21.8% overvalued
Equity Value Bridge
TRI DCF Financials
Revenue
$6,794.0M -> $11.8B
5.7% CAGR
Operating Income
$2,332.0M -> $3,279.4M
3.5% CAGR
FCFF
$2,652.5M -> $3,951.5M
4.1% CAGR
TRI DCF sensitivity
DCF value
Long-term Terminal growth rate
1.0%
1.5%
2.0%
2.5%
3.0%
WACC
6.0%
$157.0
$162.0
$162.0
$162.0
$162.0
6.5%
$142.0
$152.0
$159.0
$159.0
$159.0
7.3%
$124.0
$131.0
$139.0
$149.0
$154.0
7.5%
$119.0
$125.0
$132.0
$141.0
$152.0
8.0%
$109.0
$115.0
$121.0
$128.0
$137.0
DCF value, undervalued / overvalued
Long-term Terminal growth rate
1.0%
1.5%
2.0%
2.5%
3.0%
WACC
6.0%
(12.0%)
(9.0%)
(9.0%)
(9.0%)
(9.0%)
6.5%
(20.0%)
(14.0%)
(11.0%)
(11.0%)
(11.0%)
7.3%
(30.0%)
(26.0%)
(22.0%)
(16.0%)
(13.0%)
7.5%
(33.0%)
(30.0%)
(26.0%)
(21.0%)
(14.0%)
8.0%
(39.0%)
(35.0%)
(32.0%)
(28.0%)
(23.0%)
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Reverse DCF
FAQ
What is Thomson Reuters Corporation DCF (discounted cash flow) valuation?
As of Mar 07, 2025, Thomson Reuters Corporation's Discounted Cash Flow (DCF) valuation estimates its share price at $139.0. This suggests it may be overvalued by (21.8%) compared to its current price of around $177.7, using a WACC of 7.3% and growth rates of 2.0%.
What is Thomson Reuters Corporation WACC?
As of Mar 07, 2025, Thomson Reuters Corporation's Weighted Average Cost of Capital (WACC) is approximately 7.3%.
What is Thomson Reuters Corporation Enterprise Value?
As of Mar 07, 2025, Thomson Reuters Corporation's Enterprise Value (EV) is approximately $63.2B. This value reflects the company's total market capitalization plus debt, minus cash and cash equivalents, providing a comprehensive measure of its overall value in the market.