Thomson Reuters Corporation cash flow statement TRI

Annual Quarterly

In fiscal 2025, which ended Dec 31, 2025, Thomson Reuters Corporation generated $2.7 billion of cash from operations, up 7.9% from the year before. It spent $634.0 million on capital expenditures. That left free cash flow of $2.0 billion. The company returned $1.0 billion in share buybacks to shareholders.

USD in millions, except per-share amounts and ratios. The percent under a figure is the change from the year before.

FY 2025
Dec 31, 2025
FY 2024
Dec 31, 2024
FY 2023
Dec 31, 2023
FY 2022
Dec 31, 2022
FY 2021
Dec 31, 2021
FY 2020
Dec 31, 2020
FY 2019
Dec 31, 2019
FY 2018
Dec 31, 2018
FY 2017
Dec 31, 2017
Operating
Depreciation and amortization
—
—
—
—
—
—
—
—
995
Stock-based compensation
111
+27.6%
87
+4.8%
83
-2.4%
85
+11.8%
76
+18.8%
64
+14.3%
56
+16.7%
48
-20.0%
60
Operating cash flow
2,651
+7.9%
2,457
+5.0%
2,341
+22.2%
1,915
+8.0%
1,773
+1.6%
1,745
+148.6%
702
-66.0%
2,062
+1.6%
2,029
Investing
Capital expenditures
634
+4.4%
607
+11.6%
544
-8.6%
595
+22.2%
487
-3.4%
504
-0.2%
505
-12.3%
576
—
Investing cash flow
-1,284
-288.8%
680
-80.6%
3,513
+860.4%
-462
+8.3%
-504
-265.2%
-138
+90.0%
-1,384
-109.4%
14,729
+1506.8%
-1,047
Financing
Debt issued
3,257
-0.7%
3,280
-65.8%
9,587
+307.6%
2,352
0
-100.0%
2,019
+47.4%
—
1,370
+175.1%
—
Debt repaid
999
+244.5%
290
-51.7%
600
0
0
-100.0%
1,645
-55.8%
—
3,719
+76.1%
2,112
Stock buybacks
1,000
+56.5%
639
-40.8%
1,079
-15.8%
1,282
-8.4%
1,400
+600.0%
200
-59.0%
488
-58.4%
1,174
+17.4%
1,000
Financing cash flow
-2,828
-15.0%
-2,459
+56.3%
-5,626
-386.7%
-1,156
+49.1%
-2,273
-253.0%
-644
+46.4%
-1,201
+92.0%
-14,936
-499.8%
-2,490
Change in cash
Effect of exchange rate
4
+150.0%
-8
-900.0%
1
+116.7%
-6
-20.0%
-5
-400.0%
-1
-120.0%
5
+125.0%
-20
-322.2%
9
Net change in cash
-1,457
-317.5%
670
+192.6%
229
-21.3%
291
—
—
—
—
—
Free cash flow
2,017
+9.0%
1,850
+2.9%
1,797
+36.1%
1,320
+2.6%
1,286
+3.6%
1,241
+529.9%
197
-86.7%
1,486
—
Per share
Free cash flow per share
4.49
+9.4%
4.10
+5.9%
3.87
+42.3%
2.72
+4.7%
2.60
+4.4%
2.49
+535.6%
0.39
-82.4%
2.22
—
Shareholder returns
Returned to shareholders
1,000
639
1,079
1,282
1,400
200
488
1,174
1,000
Share of free cash flow
49.58%
34.54%
60.04%
97.12%
108.86%
16.12%
247.72%
79.00%
—
Ratios
Free cash flow margin
26.98%
25.49%
26.45%
19.92%
20.26%
20.74%
3.34%
27.01%
—
Capital expenditures to revenue
8.48%
8.36%
8.01%
8.98%
7.67%
8.42%
8.55%
10.47%
—
Stock-based compensation to revenue
1.48%
1.20%
1.22%
1.28%
1.20%
1.07%
0.95%
0.87%
1.13%
Cash conversion
1.76x
1.11x
0.87x
1.43x
0.31x
1.56x
0.45x
0.51x
1.39x
How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and ratios. Capital expenditures, debt repaid, dividends, and buybacks are positive amounts. Investing and financing cash flow keep the filing sign, so an outflow is negative. Free cash flow is operating cash flow minus capital expenditures. Returned to shareholders is dividends plus buybacks. Free cash flow margin, capital expenditures, and stock-based compensation are divided by revenue. Cash conversion is operating cash flow divided by net income. More on our methodology.

Company profile

Industry
Miscellaneous Publishing (SIC 2741)
Listed as
TRI (Nasdaq), TMSOF (OTC)
Fiscal year ends
December 31
Incorporated in
Ontario, Canada
Headquarters
Toronto, Ontario, Canada
SEC CIK
1075124
Former names
THOMSON CORP /CAN/ (until Apr 8, 2008)

Other Miscellaneous Publishing companies

All 3 Miscellaneous Publishing companies

Source: SEC EDGAR filings. This is company-reported data, not investment advice.