Thomson Reuters Corporation
TSX:TRI.TO · Toronto Stock Exchange
-$1.30 today
Vol 1.36M · Avg 0.71M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Stock Ticker Earnings Waterfall
TSX:TRI.TO · Revenue to Net Income
Key Ratios
Analysis
$7.7B of revenue converted into $1.5B of net income for the selected period. Gross margin is 69.9% and net margin is 19.9%, showing how much revenue survives after costs and taxes. EPS is $3.39, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7.5B +3.0% | $7.3B +6.8% | $6.8B +2.5% | $6.6B +4.4% | $6.3B | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $1.8B +20.4% | $1.5B -63.3% | $4.1B +70.1% | $2.4B -2.8% | $2.5B | $725.6M | $804.0M | $882.4M |
| Gross Profit | $5.7B -1.5% | $5.8B +113.3% | $2.7B -36.0% | $4.2B +9.0% | $3.9B | $8.9B | $7.6B | $6.2B |
| Gross Margin | 75.8% -3.5pp | 79.3% +39.6pp | 39.7% -23.9pp | 63.7% +2.7pp | 61.0% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 -100.0% | $440.0M -1.3% | $446.0M | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $2.7B +2.2% | $2.7B +4053.1% | $64.0M -96.1% | $1.6B -0.1% | $1.6B | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $3.7B +0.9% | $3.6B +893.7% | $367.0M -92.3% | $4.8B -6.1% | $5.1B | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $946.3M +15.1% | $822.0M +13.4% | $725.0M +0.1% | $724.0M -6.0% | $770.0M | $374.2M | $1.2B | $631.8M |
| EBITDA | $3.1B +0.3% | $3.1B +3.5% | $3.0B -2.0% | $3.0B +48.6% | $2.0B | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 40.9% -1.1pp | 42.1% -1.4pp | 43.4% -2.0pp | 45.4% +13.5pp | 31.9% | 5.6% | 46.3% | 42.0% |
| Operating Income | $2.0B -13.2% | $2.3B -1.7% | $2.3B +27.2% | $1.8B +47.7% | $1.2B | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 26.6% -5.0pp | 31.6% -2.7pp | 34.3% +6.6pp | 27.7% +8.1pp | 19.6% | 16.6% | 24.1% | 22.0% |
| Interest Income | $0 -100.0% | $104.1M +22.5% | $85.0M -80.9% | $444.0M | $0 | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $145.5M -40.0% | $242.5M +2.3% | $237.0M +20.9% | $196.0M +0.0% | $196.0M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$83.0M +62.8% | -$223.0M +35.2% | -$344.0M -87.0% | -$184.0M +2.1% | -$188.0M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $1.9B -7.9% | $2.1B +4.1% | $2.0B -4.5% | $2.1B +97.5% | $1.1B | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 25.5% -3.0pp | 28.5% -0.8pp | 29.3% -2.2pp | 31.4% +14.8pp | 16.6% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $430.4M +449.9% | -$123.0M -129.5% | $417.0M +113.8% | $195.0M -87.9% | $1.6B | $1.3B | -$1.6B | $745.2M |
| Net Income | $1.5B -30.8% | $2.2B -18.0% | $2.7B +42.8% | $1.9B +441.2% | -$553.0M | $4.9B | $4.8B | $4.7B |
| Net Margin | 20.4% -10.0pp | 30.4% -9.2pp | 39.7% +11.2pp | 28.5% +37.2pp | -8.7% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $3 -30.5% | $5 -12.4% | $6 +43.1% | $4 +436.2% | -$1 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $3 -30.5% | $5 -14.1% | $6 +46.3% | $4 +435.3% | -$1 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $449.0M -0.4% | $450.6M -4.9% | $473.6M -2.1% | $483.9M +1.7% | $475.7M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $449.5M -0.4% | $451.2M -2.7% | $464.0M -4.3% | $484.9M +1.7% | $476.7M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Canadian Pacific Kansas City Ltd.
TSX:CP.TO
$107.70B
Canadian National Railway Company
TSX:CNR.TO
$96.79B
Waste Connections, Inc.
TSX:WCN.TO
$55.09B
RB Global, Inc.
TSX:RBA.TO
$28.98B
WSP Global Inc.
TSX:WSP.TO
$23.69B
Dexterra Group Inc.
TSX:DXT.TO
$803.29M
K-Bro Linen Inc.
TSX:KBL.TO
$553.99M
Transcontinental Inc.
TSX:TCL-A.TO
$416.83M
DATA Communications Management Corp.
TSX:DCM.TO
$91.62M
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does TRI.TO generate?
Thomson Reuters Corporation (TRI.TO) reported $7.48B of revenue in fiscal 2025.
Is TRI.TO profitable?
Thomson Reuters Corporation (TRI.TO) reported $1.53B of net income, with a net margin of 20.4%.
Explore More
Continue the stock analysis
Jump to another research area for this company.