Thomson Reuters Corporation (TRI) Income Statement
TRI 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTRI revenue and net income
Where TRI's revenue goes
2025Each bar shows an amount and its share of revenue. TRI kept 20.1% of revenue as net income.
TRI profit margins
TRI growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +3.0% | +4.1% | +4.6% | −4.0% |
| Gross profit | +3.7% | +4.0% | +3.3% | −4.8% |
| Operating income | −5.7% | +2.7% | +0.6% | +2.7% |
| Net income | −32.0% | +3.9% | +6.0% | +1.8% |
| EPS (diluted) | +3.7% | +13.7% | +16.0% | +5.1% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TRI quarterly EPS vs estimates
Thomson Reuters beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 3, 2026 (estimate $0.89).
TRI income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.48B | $7.26B | $6.79B | $6.63B | $6.35B | $5.98B | $5.91B | $5.50B | $5.30B | $11.17B |
| Cost of revenue | $1.81B | $1.79B | $1.56B | $1.58B | $1.58B | $1.16B | $1.41B | $1.04B | $864.0M | $2.02B |
| Gross profit | $5.67B | $5.47B | $5.23B | $5.04B | $4.77B | $4.83B | $4.50B | $4.46B | $4.43B | $9.15B |
| Research & development | — | — | $440.0M | $446.0M | — | — | — | — | — | — |
| Sales, general & admin | $2.72B | $2.66B | $2.53B | $2.67B | $2.75B | $2.52B | $2.67B | $2.74B | $2.84B | $6.19B |
| Total operating expenses | $3.68B | $3.36B | $2.90B | $3.21B | $3.52B | $2.90B | $3.30B | $3.68B | $3.40B | $7.76B |
| Operating income | $1.99B | $2.11B | $2.33B | $1.83B | $1.24B | $1.93B | $1.20B | $780.0M | $1.03B | $1.39B |
| Interest income | $40.0M | $76.0M | $63.0M | $196.0M | $196.0M | $195.0M | $164.0M | $191.0M | $467.0M | $287.0M |
| Interest expense | $183.0M | $168.5M | $215.9M | $185.4M | $186.3M | $189.5M | $186.2M | $252.4M | $343.9M | $347.8M |
| Income before taxes | $1.91B | $2.07B | $3.06B | $1.65B | $7.29B | $1.22B | $372.0M | $300.0M | $503.0M | $1.04B |
| Income taxes | $423.0M | −$123.0M | $417.0M | $259.0M | $1.61B | $71.0M | −$1.20B | $136.0M | −$134.0M | −$15.0M |
| Net income | $1.50B | $2.21B | $2.69B | $1.34B | $5.69B | $1.12B | $1.56B | $3.93B | $1.40B | $3.10B |
| EBITDA | $3.05B | $3.05B | $2.95B | $3.01B | $2.02B | $2.76B | $1.90B | $1.45B | $1.48B | $3.00B |
| EPS (diluted) | $3.97 | $3.83 | $3.54 | $2.70 | $2.05 | $1.89 | $1.36 | $0.85 | $2.92 | $2.47 |
| Gross margin | 75.8% | 75.3% | 77.0% | 76.1% | 75.1% | 80.6% | 76.1% | 81.1% | 83.7% | 81.9% |
| Operating margin | 26.6% | 29.1% | 34.3% | 27.7% | 19.6% | 32.2% | 20.3% | 14.2% | 19.5% | 12.4% |
| Net margin | 20.1% | 30.4% | 39.7% | 20.2% | 89.6% | 18.8% | 26.5% | 71.5% | 26.3% | 27.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.95B | $2.09B | $2.01B | $1.78B | $1.78B | $1.90B | $1.91B | $1.72B | $1.74B | $1.89B | $1.81B | $1.59B |
| Cost of revenue | $1.21B | $493.0M | $493.0M | $430.0M | $438.0M | $448.0M | $491.0M | $434.0M | $422.0M | $373.0M | $364.0M | $294.0M |
| Gross profit | $743.0M | $1.59B | $1.52B | $1.35B | $1.35B | $1.45B | $1.42B | $1.29B | $1.32B | $1.51B | $1.45B | $1.30B |
| Research & development | — | — | — | — | — | — | — | $117.0M | — | — | $111.0M | $111.0M |
| Sales, general & admin | $713.0M | $704.0M | $729.0M | $674.0M | $670.0M | $644.0M | $690.0M | $674.0M | $665.0M | $629.0M | $662.0M | $600.0M |
| Total operating expenses | $185.0M | $958.0M | $1.14B | $759.0M | $911.0M | $889.0M | $696.0M | $875.0M | $903.0M | $955.0M | $893.0M | $859.0M |
| Operating income | $558.0M | $636.0M | $378.0M | $593.0M | $436.0M | $563.0M | $722.0M | $415.0M | $415.0M | $557.0M | $558.0M | $441.0M |
| Interest income | $8.0M | $5.0M | $1.0M | $12.0M | $11.0M | $16.0M | $22.0M | $26.0M | $2.0M | $11.0M | $25.0M | $32.0M |
| Interest expense | $47.8M | $44.0M | $41.0M | $36.6M | $40.7M | $38.9M | $42.8M | $47.0M | $47.0M | $39.8M | $51.4M | $54.3M |
| Income before taxes | $515.0M | $602.0M | $491.0M | $549.0M | $349.0M | $517.0M | $742.0M | $354.0M | $442.0M | $531.0M | $670.0M | $352.0M |
| Income taxes | $71.0M | $125.0M | $158.0M | $121.0M | $52.0M | $92.0M | $135.0M | $77.0M | −$402.0M | $67.0M | $20.0M | −$18.0M |
| Net income | $448.0M | $459.0M | $332.0M | $423.0M | $313.0M | $434.0M | $587.0M | $301.0M | $841.0M | $481.0M | $678.0M | $367.0M |
| EBITDA | $807.0M | $898.0M | $777.0M | $819.6M | $629.0M | $795.0M | $1.00B | $611.0M | $640.0M | $785.0M | $655.0M | $742.0M |
| EPS (diluted) | $0.99 | $1.23 | $1.09 | $0.86 | $0.88 | $1.14 | $1.03 | $0.81 | $0.86 | $1.13 | $1.00 | $0.83 |
| Gross margin | 38.0% | 76.4% | 75.5% | 75.9% | 75.5% | 76.4% | 74.3% | 74.8% | 75.7% | 80.2% | 79.9% | 81.6% |
| Operating margin | 28.6% | 30.5% | 18.8% | 33.3% | 24.4% | 29.6% | 37.8% | 24.1% | 23.9% | 29.5% | 30.7% | 27.7% |
| Net margin | 22.9% | 22.0% | 16.5% | 23.7% | 17.5% | 22.8% | 30.7% | 17.5% | 48.3% | 25.5% | 37.4% | 23.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TRI's financial statements (latest annual report filed March 5, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TRI financial results
In fiscal year 2025 (ended December 31, 2025), Thomson Reuters reported revenue of $7.5 billion, up 3.0% from the year before. It had net income of $1.5 billion (down 32.0%), a net profit margin of 20.1%. Diluted earnings per share came to $3.97. Over five years revenue grew at an average rate of 4.6% a year.
See the TRI stock overview for the latest quote and news, or the TRI chart for price history and technical indicators.
TRI income statement FAQ
What is Thomson Reuters's annual revenue?
Thomson Reuters reported total revenue of $7.5 billion for fiscal year 2025, which ended on December 31, 2025. That was up 3.0% from $7.3 billion the previous year.
Is Thomson Reuters profitable?
Yes. Thomson Reuters reported net income of $1.5 billion in fiscal 2025, a net profit margin of 20.1%; its operating margin was 26.6%.
What is Thomson Reuters's gross margin?
Thomson Reuters's gross margin was 75.8% in fiscal 2025: for every $100 of revenue, Thomson Reuters kept $76 after the direct cost of its products and services.
How fast is Thomson Reuters growing?
Revenue grew 4.6% a year on average over the last five fiscal years, from $6.0 billion to $7.5 billion.
What are Thomson Reuters's earnings per share?
Thomson Reuters earned $3.97 per diluted share in fiscal 2025, compared with $3.83 a year earlier.
When will Thomson Reuters report its next earnings?
Thomson Reuters is expected to report results for the quarter ending September 30, 2026 on November 3, 2026 before the market opens.
When does Thomson Reuters's fiscal year end?
Thomson Reuters's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 5, 2026.