COMP <GO>

TRI vs V // EV/EBITDA & P/E VALUATION

Thomson Reuters Corporation (NASDAQ) VS. Visa Inc. (NYSE) • 15-METRIC TALLY: TRI 3 — V 10

▲ EV/EBITDA & P/E VALUATION LEADER: TRI

LAST: $118.25 (+1.63%) • MKT CAP: $50.40B

valuation

21.0x

LAST: $413.59 (+0.74%) • MKT CAP: $733.53B

valuation

28.9x

15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (TRI VS. V) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	TRI	V	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	41.00%	41.00%	0.00	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	9.90%	32.30%	-22.40	V	/roic <GO>
EV/EBITDA & P/E Valuation ACTIVE	21.0x	28.9x	-7.90	TRI	/valuation <GO>
Free Cash Flow Yield	2.21%	2.90%	-0.69	V	/fcf-yield <GO>
Operating Margin	13.90%	60.00%	-46.10	V	/operating-margins <GO>
Net Profit Margin	10.90%	50.10%	-39.20	V	/net-margins <GO>
Revenue Growth (YoY)	0.00%	11.30%	-11.30	V	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.63%	-0.63	V	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	3.74	9.09	-5.35	V	/balance-sheet <GO>
Piotroski F-Score Quality	7/9	9/9	-2.00	V	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	7.10%	7.10%	0.00	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	65.3	69.4	-4.18	V	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	1.07	1.06	+0.01	TRI	/macro-sensitivity <GO>
Forward P/E Multiple	30.5x	34.0x	-3.50	TRI	/forward-pe <GO>
Enterprise Scale & Market Cap	$50.40B	$733.53B	-$683.13B	V	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	TRI REV	V REV	TRI GROSS %	V GROSS %	TRI FCF	V FCF
FY 2025	—	$40.00B	—	44.0%	—	$21.26B
FY 2024	—	$35.93B	—	44.0%	—	$18.33B
FY 2023	—	$32.65B	—	44.0%	—	$19.29B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

TRI // BETA 1.07

V // BETA 1.06