TRI (Thomson Reuters) Operating Income: $2,055 Mil (TTM As of Mar. 2026)

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TRI Thomson Reuters Corp TRI
77 GF Score
Price $98.61
GF Value $193.02
Valuation Significantly Undervalued
! 1 Warning Sign
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What is Thomson Reuters Operating Income?

Thomson Reuters TRI -9.58% 77 Operating Income is $2,055 Mil as of Mar. 2026. GuruFocus rates TRI with a GF Score™ of 77/100 and a GF Value™ of $193.02 (Significantly Undervalued). The stock has 1 warning sign investors should review.

Thomson Reuters's Operating Income for the three months ended in Mar. 2026 was $636 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $2,055 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Thomson Reuters's Operating Income for the three months ended in Mar. 2026 was $636 Mil. Thomson Reuters's Revenue for the three months ended in Mar. 2026 was $2,087 Mil. Therefore, Thomson Reuters's Operating Margin % for the quarter that ended in Mar. 2026 was 30.47%.

Thomson Reuters's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Thomson Reuters's annualized ROC % for the quarter that ended in Mar. 2026 was 11.17%. Thomson Reuters's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 744.16%.


Thomson Reuters  (NAS:TRI) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Thomson Reuters's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=2544 * ( 1 - 20.53% )/( (17983 + 18202)/ 2 )
=2021.7168/18092.5
=11.17 %

where

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Thomson Reuters's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=2612/( ( (361 + max(-958, 0)) + (341 + max(-765, 0)) )/ 2 )
=2612/( ( 361 + 341 )/ 2 )
=2612/351
=744.16 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1111 + 23 + 522) - (1197 + 1251 + 166)
=-958

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1184 + 0 + 460) - (1138 + 1162 + 109)
=-765

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Thomson Reuters's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=636/2087
=30.47 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Thomson Reuters Operating Income Related Terms


Thomson Reuters Operating Income Historical Data

* Premium members only.

The historical data trend for Thomson Reuters's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Thomson Reuters Operating Income Chart

Thomson Reuters Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,234.00 1,815.00 1,950.00 1,896.00 1,989.00

Thomson Reuters Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 570.00 443.00 598.00 378.00 636.00
TRI
77GF Score
Thomson Reuters Corp TRI
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Thomson Reuters Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $2,055 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of $2,055 Mil mean?
Thomson Reuters (TRI) has a Operating Income of $2,055 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Thomson Reuters and its competitors.
Is Thomson Reuters' Operating Income too high?
Thomson Reuters' current Operating Income is $2,055 Mil. Overall, Thomson Reuters has a GF Score™ of 77/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Thomson Reuters' Operating Income compare to CTAS and CPRT?
Thomson Reuters' Operating Income of $2,055 Mil can be compared against companies in the Business Services industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Business Services company?
A good Operating Income depends on the Business Services industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Thomson Reuters and its competitors. Thomson Reuters's current Operating Income is $2,055 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thomson Reuters stock overvalued right now?
Based on GuruFocus' analysis, Thomson Reuters (TRI) is currently considered Significantly Undervalued. The stock's GF Value™ is $193.02, compared to a current price of $98.61 — trading 48.9% below its estimated fair value. The current Operating Income is $2,055 Mil. Thomson Reuters' overall GF Score™ is 77/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Thomson Reuters (TRI), the current Operating Income is $2,055 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Thomson Reuters (TRI) Overvalued in 2026?

Based on GuruFocus' analysis, Thomson Reuters stock appears to be undervalued. The current stock price of $98.61 is trading 48.9% below its estimated GF Value™ of $193.02. GuruFocus considers Thomson Reuters to be Significantly Undervalued.

Key valuation signals for TRI:

  • Operating Income: $2,055 Mil
  • GF Value™: $193.02 vs. price of $98.61 (48.9% below fair value)
  • GF Score™: 77/100 with 1 warning sign

No single metric tells the full story. See the TRI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Thomson Reuters Business Description

Address 19 Duncan Street, Toronto, ON, CAN, M5H 3H1
Thomson Reuters is a leading global provider of business information services, delivering trusted data, technology, and expertise to professionals across legal, tax, accounting, risk, compliance, and the news and media sectors. Headquartered in Toronto, Canada, the company combines deep domain knowledge with data and software solutions to help clients make informed decisions, manage complexity, and drive efficiency. Thomson Reuters serves legal and accounting/tax professionals, corporations, and governments worldwide, but around 75% of revenue is generated in the US. The company is known for flagship products such as Westlaw, UltraTax CS, and Reuters News.
77GF Score

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Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$98.61
Price
$193.02
GF Value