GPN vs TRI: Global Payments and Thomson Reuters compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Thomson Reuters is the larger company, worth $46.9B, about 1.9 times Global Payments.
- Global Payments grew revenue faster over the last year (+68.6% vs +3.0%).
- Thomson Reuters keeps more of each dollar of revenue as operating profit (28.5% vs 12.4%).
- On earnings, Thomson Reuters is the cheaper stock (31.0x vs 31.9x).
- Thomson Reuters's price assumes faster free cash flow growth: about 7% a year, against -2% for Global Payments (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | GPN | TRI |
|---|---|---|
| Market cap | $24.4B | $46.9B |
| Share price | $82.20 | $103.21 |
| Revenue (last fiscal year) | $7.7B | $7.5B |
| Free cash flow (last fiscal year) | $2.0B | $2.0B |
| Revenue growth, last year | +68.6% | +3.0% |
| Revenue growth per year, last 5 fiscal years | -2.5% | +4.2% |
| Operating margin | 12.4% | 28.5% |
| Net margin | -9.1% | 20.1% |
| Return on equity | -4.0% | 11.9% |
| P/E (trailing) | 31.9x | 31.0x |
| Price / free cash flow | 11.9x | 22.8x |
| EV / EBITDA | 11.0x | 12.7x |
| FCF growth the price implies | -1.8% | 7.0% |
| Dividend yield | 1.1% | 2.3% |
| Debt / equity | 1.71x | 0.42x |
| Fundamental grade | C | C |
| Superinvestors holding it | 9 | 3 |
| Insider purchases, last 12 months | 10 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Global Payments
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $8.5B | $2.3B | 15.9% |
| 2022 | $9.0B | $1.6B | 7.1% |
| 2023 | $7.4B | $1.9B | 17.8% |
| 2024 | $7.7B | $2.4B | 25.5% |
| 2025 | $7.7B | $2.0B | 22.8% |
Thomson Reuters
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $6.3B | $1.3B | 19.6% |
| 2022 | $6.6B | $1.3B | 27.7% |
| 2023 | $6.8B | $1.8B | 34.3% |
| 2024 | $7.3B | $1.9B | 29.1% |
| 2025 | $7.5B | $2.0B | 28.5% |
Where the revenue comes from
Global Payments · by segments, 2024
Merchant Solutions$7.7B76%
Issuer Solutions$2.5B24%
Thomson Reuters · by segments, 2020
Legal Professionals$2.5B42%
Corporates$1.4B23%
Tax & Accounting Professionals$836M14%
Reuters News$628M10%
Global Print$620M10%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open GPN in InvestinglyQuestions
Which is bigger, Global Payments or Thomson Reuters?
Thomson Reuters (TRI), at $46.9B against $24.4B.
Is GPN or TRI cheaper?
By trailing P/E, Thomson Reuters (31.0x) is cheaper than Global Payments (31.9x). A lower multiple can also mean the market expects less growth.
Which grows faster, GPN or TRI?
Global Payments: revenue grew +68.6% over the last year, against +3.0%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.