Thomson Reuters Delivers Strong Q4 & FY25 Results, Boosts Dividend 10%, and Projects Robust 2026 Growth

summarizeSummary

Thomson Reuters reported strong Q4 and full-year 2025 financial results, met its 2025 outlook, and provided a positive 2026 outlook, while also increasing its annualized dividend by 10% and completing a $1.0 billion share repurchase program.

check_boxKey Events

• Strong 2025 Financial Performance

  Thomson Reuters reported full-year 2025 total revenues up 3% (7% organic) and fourth-quarter total revenues up 5% (7% organic). Adjusted EBITDA margin expanded by 100 basis points for the full year and 110 basis points in Q4, with the company meeting its full-year 2025 outlook for organic revenue growth, adjusted EBITDA margin, and free cash flow.

• Positive 2026 Financial Outlook

  The company anticipates full-year 2026 organic revenue growth of approximately 7.5% - 8.0% and adjusted EBITDA margin expansion of approximately 100 basis points from 39.2% in 2025. Free cash flow is projected to be approximately $2.1 billion.

• Significant Dividend Increase

  The Board of Directors approved a 10% increase in the annualized dividend to $2.62 per common share, marking the 33rd consecutive annual increase and the fifth consecutive 10% increase.

• Completed Share Repurchase Program

  Thomson Reuters completed its $1.0 billion share repurchase program in late October 2025, repurchasing 6.0 million common shares.

auto_awesomeAnalysis

Thomson Reuters reported solid fourth-quarter and full-year 2025 results, characterized by strong organic revenue growth and adjusted EBITDA margin expansion, successfully meeting its full-year 2025 outlook. The company's 'Big 3' segments (Legal Professionals, Corporates, and Tax, Audit & Accounting Professionals) were key drivers of this performance. Looking ahead, the 2026 outlook projects continued robust organic revenue growth and further margin expansion, signaling confidence in its strategic investments, particularly in AI. The significant 10% increase in the annualized dividend, marking the 33rd consecutive year of increases, along with the completion of a $1.0 billion share repurchase program, underscores the company's commitment to returning capital to shareholders and its strong financial health.