TRI EV/EBITDA: current value, 10-year range and year-by-year history
Cash & Leverage
TRI's ev/ebitda is lower than 83% of the last 10 years.
EV/EBITDA History
TRI EV/EBITDA by year
Yearly range of TRI’s ev/ebitda from 2016 to 2026. Over the full period it ranged from 11.4 to 32.8, averaging 21.1.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 11.4 | 14.3 | 20.1 | 14.8 |
| 2025 | 18.7 | 25.8 | 32.8 | 20.3 |
| 2024 | 23.1 | 26.7 | 29.7 | 24.6 |
| 2023 | 20.6 | 22.7 | 26.4 | 26.4 |
| 2022 | 17.9 | 24.2 | 30.3 | 20.4 |
| 2021 | 15.3 | 19.4 | 30.9 | 30.9 |
| 2020 | 15.8 | 20.9 | 23.7 | 15.9 |
| 2019 | 18.3 | 21.1 | 23.9 | 20.9 |
| 2018 | 17.7 | 19.8 | 23.6 | 18.9 |
| 2017 | 12.2 | 16.4 | 22.0 | 20.3 |
| 2016 | 12.2 | 12.8 | 13.6 | 13.2 |
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An acquisition-style valuation multiple: Enterprise Value (market cap + net debt) divided by operating earnings before accounting adjustments. Compares companies fairly regardless of their capital structure.
(Market Cap + Net Debt) / EBITDAUnlike P/E, this metric accounts for debt — two companies with identical operations but different leverage will show similar EV/EBITDA. Low vs history suggests the total business is modestly priced.
- EBITDA ignores capital expenditure. For asset-heavy businesses (airlines, mining, utilities), this understates the real cost — use EV/EBIT or EV/FCF instead.
- Large acquisitions temporarily spike net debt and can distort the ratio for 1–2 years during integration.
Is TRI EV/EBITDA High or Low Right Now?
Thomson Reuters Corporation's EV/EBITDA is currently 14.8, which is historically cheap relative to its 10-year historical range. The 10-year median EV/EBITDA for TRI is approximately 21.3. See all TRI valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.