RB Global vs Thomson Reuters
Thomson Reuters is the larger business, with $7.48bn of revenue in fiscal 2025 against $4.59bn for RB Global (1.6 times as much). RB Global grew faster (7.2% against 3.0%). Thomson Reuters kept more of each dollar of sales as profit: a net margin of 20.1% against 9.3%. Thomson Reuters carries less debt relative to equity (17.8% against 44.4%).
| Latest fiscal year | RB GlobalRBA, 2025 | Thomson ReutersTRI, 2025 |
|---|---|---|
| Revenue | $4.59bn | $7.48bn |
| Revenue growth | 7.2% | 3.0% |
| Net income | $428m | $1.50bn |
| Operating margin | 15.5% | 28.5% |
| Net margin | 9.3% | 20.1% |
| Return on equity | 7.9% | 12.6% |
| Free cash flow | $719m | $2.02bn |
| Cash | $532m | $511m |
| Total debt | $2.47bn | $2.12bn |
| Debt to equity | 44.4% | 17.8% |
| Dividend per share | — | — |
| Dividend yield | 1.6% | — |
| Share buybacks | — | $1.00bn |
| Employees | 8,000 | — |
| Market value | $17.24bn | $50.61bn |
| Price vs our value range | Within our value range | Above our value range |
| Moat score | 51 (Moderate) | — |
| Insider trades, 12 months | 8 buys, 3 sales | 0 buys, 0 sales |