Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Thomson Reuters reported second quarter 2026 results showing continued revenue growth and margin stability amid ongoing investments in innovation and portfolio optimization.</li><li>Total company organic revenues increased by 8%, with the company’s primary business segments—the “Big 3” of Legal Professionals, Corporates, and Tax, Audit & Accounting—accelerating organic growth to 10%, driven particularly by strong performance in Legal Professionals and Corporates.</li><li>Thomson Reuters raised its full-year organic revenue growth outlook to approximately 8%, at the high end of previous guidance, and increased the Big 3 revenue growth forecast to a range of 9.5% to 10%.</li></ul>

Thomson Reuters reported second quarter 2026 results showing continued revenue growth and margin stability amid ongoing investments in innovation and portfolio optimization.Total company organic revenues increased by 8%, with the company’s primary business segments—the “Big 3” of Legal Professionals, Corporates, and Tax, Audit & Accounting—accelerating organic growth to 10%, driven particularly by strong performance in Legal Professionals and Corporates.Thomson Reuters raised its full-year organic revenue growth outlook to approximately 8%, at the high end of previous guidance, and increased the Big 3 revenue growth forecast to a range of 9.5% to 10%.

Thomson Reuters’ $500 Million KKR Deal — Could It Accelerate The AI Pivot?

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Research Reinvented

<ul>
  <li>
<a href="https://smartkarma.com/entities/thomson-reuters-corp">Thomson Reuters </a>is successfully transitioning its business model from a content provider to an AI-powered workflow partner, focusing on its high-margin 'Big 3' segments: Legal, Corporates, and Tax &amp; Accounting.</li>
  <li>The company possesses a wide economic moat, underpinned by high customer switching costs, proprietary data, and deeply embedded products, which supports a stable, subscription-heavy recurring revenue model.</li>
  <li>While demonstrating strong organic growth and committing to shareholder returns through consistent dividend increases and share buybacks, the company faces intensifying competition from AI-native startups and potential margin pressure from the necessary investments in technology.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  
Thomson Reuters is successfully transitioning its business model from a content provider to an AI-powered workflow partner, focusing on its high-margin 'Big 3' segments: Legal, Corporates, and Tax &amp; Accounting.
  The company possesses a wide economic moat, underpinned by high customer switching costs, proprietary data, and deeply embedded products, which supports a stable, subscription-heavy recurring revenue model.
  While demonstrating strong organic growth and committing to shareholder returns through consistent dividend increases and share buybacks, the company faces intensifying competition from AI-native startups and potential margin pressure from the necessary investments in technology.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Thomson Reuters  (TRI US) - Aug 2026

<ul><li>Thomson Reuters reported a solid start to 2026 with total organic revenue growth of 8% in the first quarter, slightly ahead of prior expectations, supported by 9% growth in its three core segments—Legal Professionals, Corporates, and Tax, Audit & Accounting Professionals.</li><li>Adjusted EBITDA rose 9% to $881 million, maintaining a margin of 42.2%, and adjusted earnings per share increased 10% to $1.23.</li><li>Free cash flow improved 19% year-over-year to $332 million, driven primarily by EBITDA growth.</li></ul>

Thomson Reuters reported a solid start to 2026 with total organic revenue growth of 8% in the first quarter, slightly ahead of prior expectations, supported by 9% growth in its three core segments—Legal Professionals, Corporates, and Tax, Audit & Accounting Professionals.Adjusted EBITDA rose 9% to $881 million, maintaining a margin of 42.2%, and adjusted earnings per share increased 10% to $1.23.Free cash flow improved 19% year-over-year to $332 million, driven primarily by EBITDA growth.

Thomson Reuters Faces 5% Print Decline As AI Competition Intensifies!

<ul><li>Thomson Reuters reported robust financial performance for the fourth quarter of 2025, with organic revenues increasing by 7% and adjusted EBITDA improving by 8% compared to the prior year.</li><li>This growth was driven by strong performances across its core segments, particularly the Big 3 segments (Legal Professionals, Corporates, and Tax, Audit & Accounting), which collectively saw organic revenue rise by 9%.</li><li>The company also achieved full-year organic revenue growth of 7% and expanded its adjusted EBITDA margin by 100 basis points to 39.2%.</li></ul>

Thomson Reuters reported robust financial performance for the fourth quarter of 2025, with organic revenues increasing by 7% and adjusted EBITDA improving by 8% compared to the prior year.This growth was driven by strong performances across its core segments, particularly the Big 3 segments (Legal Professionals, Corporates, and Tax, Audit & Accounting), which collectively saw organic revenue rise by 9%.The company also achieved full-year organic revenue growth of 7% and expanded its adjusted EBITDA margin by 100 basis points to 39.2%.

Thomson Reuters’ $11 Billion M&A War Chest—A Strategic AI Roll-Up in the Making?

<ul><li>Thomson Reuters reported its third-quarter 2025 earnings, showcasing both momentum in key areas and some challenges impacting overall growth projections.</li><li>The company experienced strong organic revenue growth of 7%, with the "Big 3" segments—Legal Professionals, Corporates, and Tax & Accounting—driving 9% growth.</li><li>Significantly, the Legal Professionals segment saw an acceleration to 9% organic growth, bolstered by the continued success of Westlaw and CoCounsel products.</li></ul>

Thomson Reuters reported its third-quarter 2025 earnings, showcasing both momentum in key areas and some challenges impacting overall growth projections.The company experienced strong organic revenue growth of 7%, with the "Big 3" segments—Legal Professionals, Corporates, and Tax & Accounting—driving 9% growth.Significantly, the Legal Professionals segment saw an acceleration to 9% organic growth, bolstered by the continued success of Westlaw and CoCounsel products.

Thomson Reuters: How CoCounsel Could Reshape Legal Workflows—Is Thomson Reuters Building the AI Assistant Leader?

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Thomson Reuters Corporation provides business information services. The Company offers information-enabled software and tools for legal, tax, accounting, and compliance professionals. Thomson Reuters also provides news services worldwide.

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Thomson Reuters (TRI US)

Thomson Reuters’ $500 Million KKR Deal — Could It Accelerate The AI Pivot?

Thomson Reuters reported second quarter 2026 results showing continued revenue growth and margin stability amid ongoing investments in innovation...

Baptista Research

Primer: Thomson Reuters (TRI US) - Aug 2026

Thomson Reuters is successfully transitioning its business model from a content provider to an AI-powered workflow partner, focusing on its...

αSK Primers

Thomson Reuters Faces 5% Print Decline As AI Competition Intensifies!

Thomson Reuters reported a solid start to 2026 with total organic revenue growth of 8% in the first quarter, slightly ahead of prior expectations,...

Baptista Research

Thomson Reuters’ $11 Billion M&A War Chest—A Strategic AI Roll-Up in the Making?

Thomson Reuters reported robust financial performance for the fourth quarter of 2025, with organic revenues increasing by 7% and adjusted EBITDA...

Baptista Research

Thomson Reuters: How CoCounsel Could Reshape Legal Workflows—Is Thomson Reuters Building the AI Assistant Leader?

Thomson Reuters reported its third-quarter 2025 earnings, showcasing both momentum in key areas and some challenges impacting overall growth...

Baptista Research

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