Thomson-Reuters Corp (TRI) is overvalued and UL Solutions Inc (ULS) is overvalued.
Both trade above our estimate of their intrinsic value. ULS is the closer of the two: -56%, against -56% for TRI.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.9% (average of 3 methods) values the shares at $61.26; the price of $95.66 is 56% above that value, and 76% of that value comes from beyond year five.
Leak Score 59/100 on 3 of 12 signals
Discounting its cash flows at 8.6% (average of 3 methods) values the shares at $42.69; the price of $66.65 is 56% above that value, and 77% of that value comes from beyond year five.
Leak Score 59/100 on 3 of 12 signals
| Metric | TRI | ULS |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $95.66 | $66.65 |
| Intrinsic value | $61.26 | $42.69 |
| Margin of safety | -56% | -56% |
| Leak Score | 59/100 (3/12) | 59/100 (3/12) |
| Market cap | $41.4B | $13.5B |
| Revenue growth, 5 years | 4.5% | 5.8% |
| Operating margin | 26.9% | 19.0% |
| Net margin | 21.2% | 16.0% |
| Return on equity | 14.2% | 37.5% |
| Debt to equity | 0.29 | 0.30 |
| P/E | 25.6x | 26.9x |
| Forward P/E | 18.9x | 25.7x |
| P/B | 3.8x | 8.4x |
| Dividend yield | 2.7% | 0.9% |