TGM's two-stage DCF values Thomson Reuters Corporation (TRI) between $71.80 and $143.55 depending on assumptions, with a base case of $99.41. Growth is taken from the company's own record (blend of 5-year revenue and FCF growth), fading to 2.5% long-run; the discount rate (7.5%) reflects its beta.
What would today's price require?
$106.23 is justified only if free cash flow grows about +8.7% a year (fading to 2.5% long-run) at a 7.5% required return — about in line with its track record.
| Scenario | FCF growth (fading to 2.5%) | Discount | Value / share |
|---|---|---|---|
| Conservative | 4.2%/yr | 8.5% | $71.80 |
| Base case | 7.2%/yr | 7.5% | $99.41 |
| Optimistic | 10.2%/yr | 6.5% | $143.55 |
| Third-party model estimate (FMP) | independent reference · retrieved Aug 29, 2026 · assumptions not provided | $174.40 | |
The FMP figure is a third-party point estimate. Its cash-flow forecast, discount rate, terminal growth, and valuation date are not included in the stored response, so TGMCharts presents it only as a reference—not as an intrinsic-value conclusion or price target.
Current Price
$106.23
Market-Implied Growth
+8.7%/yr
vs +9.5% 5Y actual
Model Scenario Range
$71.80 – $143.55
model output — not a price target
Edit the assumptions to see how they change the estimated fair value. Opens seeded with TGM's data-driven base case for TRI (growth from its own 5-year record, discount from its beta), so the sandbox starts where the scenarios above leave off. Illustrative model — not investment advice.
Base inputs: FCF $1.8B · 0.44B shares · net debt $1.6B
Estimated Fair Value
$99.41
-6.4% vs $106.23
How the estimated fair value shifts with the discount rate (WACC) and terminal growth, holding your 7.2%/yr FCF growth and 10-year horizon fixed. Green = above today's $106.23; red = below. Your current case is outlined.
| WACC ↓ / Terminal → | 1.50% | 2.00% | 2.50% | 3.00% | 3.50% |
|---|---|---|---|---|---|
| 5.5% | $130 | $147 | $170 | $201 | $248 |
| 6.5% | $103 | $113 | $126 | $142 | $164 |
| 7.5% | $84.78 | $91.43 | $99.41 | $109 | $121 |
| 8.5% | $71.76 | $76.43 | $81.86 | $88.27 | $95.96 |
| 9.5% | $62.02 | $65.44 | $69.34 | $73.83 | $79.07 |
