TRI vs. ULS: Thomson Reuters vs. UL Stock Comparison

November 11, 2026

How do Thomson Reuters (TRI) and UL (ULS) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Thomson Reuters (TRI) and UL (ULS) are both classified in the Research & Consulting Services sub-industry within the broader Professional Services industry, placing them in the closest GICS peer bucket.

Thomson Reuters (TRI) carries decades of public-market history since June 12, 2002, while UL (ULS) listed on April 12, 2024 — long-window comparisons have far more historical data on the TRI side.

Company profile comparison for Thomson Reuters (TRI) and UL (ULS)
Profile Item	TRI	ULS
Name	Thomson Reuters Corporation	UL Solutions Inc. Class A Common Stock
Country/Region	Canada	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Commercial & Professional Services	Commercial & Professional Services
GICS Industry	Professional Services	Professional Services
GICS Sub-Industry	Research & Consulting Services	Research & Consulting Services
Market Capitalization	48.79 billion USD	15.88 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	June 12, 2002	April 12, 2024
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

TRI

ULS

GSPC

Thomson Reuters (TRI) vs. UL (ULS), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Thomson Reuters (TRI) and UL (ULS). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Thomson Reuters (TRI) and UL (ULS). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Thomson Reuters (TRI) and UL (ULS)
Metric	TRI	ULS
Total Return (1Y)	-16.97%	-3.81%
Total Return (3Y, Annualized)	-3.77%	--
Total Return (5Y, Annualized)	0.07%	--

Risk Profile

Drawdown History

TRI

ULS

GSPC

Thomson Reuters (TRI) vs. UL (ULS), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Thomson Reuters (TRI) and UL (ULS). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Thomson Reuters (TRI) and UL (ULS)
Metric	TRI	ULS
Volatility (1Y, Annualized)	52.25%	42.88%
Beta (5Y)	0.73	0.52
Max Drawdown (5Y)	-62.87%	-38.75%
Avg. Volume (3M)	1.62M	879.46K

Risk-Adjusted Performance

Risk-Return Positioning

TRI and ULS are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Thomson Reuters (TRI) and UL (ULS)
Metric	TRI	ULS
Sharpe Ratio (1Y)	-0.41	-0.19
Sortino Ratio (1Y)	-0.58	-0.28

Profitability

ROE (TTM)

UL (ULS) at 36.51% sits in the top ROE quartile, while Thomson Reuters (TRI) at 14.11% is closer to the peer norm — stronger capital efficiency for ULS.

TRI

Commercial & Professional Services industry group

14.11%

Max: 47.06%
Q3: 25.43%
TRI: 14.11%
Median: 14.11%
Q1: 3.92%
Min: -20.15%

ULS

Commercial & Professional Services industry group

36.51%

Max: 47.06%
ULS: 36.51%
Q3: 25.43%
Median: 14.11%
Q1: 3.92%
Min: -20.15%

Thomson Reuters (TRI) vs. UL (ULS): A comparison of their ROE against the Commercial & Professional Services industry group benchmark.

Net Margin (TTM)

For every dollar of sales, both Thomson Reuters (TRI) at 19.69% and UL (ULS) at 16.13% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

TRI

Commercial & Professional Services industry group

19.69%

Max: 23.28%
TRI: 19.69%
Q3: 11.35%
Median: 5.65%
Q1: 0.87%
Min: -8.60%

ULS

Commercial & Professional Services industry group

16.13%

Max: 23.28%
ULS: 16.13%
Q3: 11.35%
Median: 5.65%
Q1: 0.87%
Min: -8.60%

Thomson Reuters (TRI) vs. UL (ULS): A comparison of their net margin against the Commercial & Professional Services industry group benchmark.

Operating Margin (TTM)

Both Thomson Reuters (TRI) at 21.93% and UL (ULS) at 19.81% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

TRI

Commercial & Professional Services industry group

21.93%

Max: 38.50%
TRI: 21.93%
Q3: 18.84%
Median: 10.40%
Q1: 5.59%
Min: -12.00%

ULS

Commercial & Professional Services industry group

19.81%

Max: 38.50%
ULS: 19.81%
Q3: 18.84%
Median: 10.40%
Q1: 5.59%
Min: -12.00%

Thomson Reuters (TRI) vs. UL (ULS): A comparison of their operating margin against the Commercial & Professional Services industry group benchmark.

Profitability Metrics

Profitability metrics for Thomson Reuters (TRI) and UL (ULS)
Metric	TRI	ULS
ROE (TTM)	14.11%	36.51%
ROA (TTM)	6.96%	11.46%
Net Margin (TTM)	19.69%	16.13%
Operating Margin (TTM)	21.93%	19.81%
Gross Margin (TTM)	39.72%	50.69%

Growth

Revenue Growth

Both Thomson Reuters (TRI) at 3.00% and UL (ULS) at 6.38% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Thomson Reuters (TRI) vs. UL (ULS): A comparison of their Revenue Growth across different time periods.

EPS Growth

UL (ULS) at -1.23% is around its peer norm for EPS growth, while Thomson Reuters (TRI) at -31.90% drops into the bottom quartile, signaling weaker earnings momentum.

Thomson Reuters (TRI) vs. UL (ULS): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Thomson Reuters (TRI) and UL (ULS)
Metric	TRI	ULS
Revenue Growth (YoY)	3.00%	6.38%
Revenue Growth (3Y CAGR)	4.10%	6.60%
EPS Growth (YoY)	-31.90%	-1.23%
EPS Growth (3Y CAGR)	3.68%	2.98%

Financial Strength

Current Ratio (MRQ)

UL (ULS) at 2.09 keeps current ratio within its industry’s typical mid-range, while Thomson Reuters (TRI) at 1.08 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for TRI.

TRI

Commercial & Professional Services industry group

1.08

Max: 3.63
Q3: 2.14
Median: 1.55
Q1: 1.09
TRI: 1.08
Min: 0.45

ULS

Commercial & Professional Services industry group

2.09

Max: 3.63
Q3: 2.14
ULS: 2.09
Median: 1.55
Q1: 1.09
Min: 0.45

Thomson Reuters (TRI) vs. UL (ULS): A comparison of their current ratio against the Commercial & Professional Services industry group benchmark.

Debt / Equity (MRQ)

Both Thomson Reuters (TRI) at 0.36 and UL (ULS) at 0.54 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

TRI

Commercial & Professional Services industry group

0.36

Max: 2.37
Q3: 1.25
Median: 0.88
TRI: 0.36
Q1: 0.35
Min: 0.00

ULS

Commercial & Professional Services industry group

0.54

Max: 2.37
Q3: 1.25
Median: 0.88
ULS: 0.54
Q1: 0.35
Min: 0.00

Thomson Reuters (TRI) vs. UL (ULS): A comparison of their debt-to-equity ratio against the Commercial & Professional Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Thomson Reuters (TRI) and UL (ULS)
Metric	TRI	ULS
Current Ratio (MRQ)	1.08	2.09
Debt / Equity (MRQ)	0.36	0.54
Net Debt / EBITDA	1.17	-0.11

Dividends

Dividend Yield (TTM)

Thomson Reuters (TRI) at 2.18% delivers top-quartile income for its industry, while UL (ULS) at 0.74% pays a more typical yield — both are credible income propositions, TRI the richer one.

TRI

Commercial & Professional Services industry group

2.18%

Max: 4.33%
TRI: 2.18%
Q3: 1.80%
Median: 0.60%
Q1: 0.00%
Min: 0.00%

ULS

Commercial & Professional Services industry group

0.74%

Max: 4.33%
Q3: 1.80%
ULS: 0.74%
Median: 0.60%
Q1: 0.00%
Min: 0.00%

Thomson Reuters (TRI) vs. UL (ULS): A comparison of their dividend yield against the Commercial & Professional Services industry group benchmark.

Dividend Payout Ratio (TTM)

UL (ULS) at 22.42% pays out a band-typical share of earnings, while Thomson Reuters (TRI) at 79.09% distributes more than its industry norm — less retained, thinner cover.

TRI

Commercial & Professional Services industry group

79.09%

Max: 99.58%
TRI: 79.09%
Q3: 41.99%
Median: 17.27%
Q1: 0.00%
Min: -17.94%

ULS

Commercial & Professional Services industry group

22.42%

Max: 99.58%
Q3: 41.99%
ULS: 22.42%
Median: 17.27%
Q1: 0.00%
Min: -17.94%

Thomson Reuters (TRI) vs. UL (ULS): A comparison of their payout ratio against the Commercial & Professional Services industry group benchmark.

Dividend Metrics

Dividend metrics for Thomson Reuters (TRI) and UL (ULS)
Metric	TRI	ULS
Dividend Yield (TTM)	2.18%	0.74%
Dividend Payout Ratio (TTM)	79.09%	22.42%

Valuation

P/E Ratio (TTM)

UL (ULS) at 31.21 is near its industry’s usual P/E ratio, while Thomson Reuters (TRI) at 34.53 sits in the richer quartile — TRI needs stronger growth or earnings quality to justify the premium.

TRI

Commercial & Professional Services industry group

34.53

Max: 49.47
TRI: 34.53
Q3: 33.76
Median: 24.16
Q1: 16.01
Min: 1.89

ULS

Commercial & Professional Services industry group

31.21

Max: 49.47
Q3: 33.76
ULS: 31.21
Median: 24.16
Q1: 16.01
Min: 1.89

Thomson Reuters (TRI) vs. UL (ULS): A comparison of their P/E ratio against the Commercial & Professional Services industry group benchmark.

P/S Ratio (TTM)

Both Thomson Reuters (TRI) at 6.09 and UL (ULS) at 4.98 command a richer price per dollar of sales than most peers, sitting in the upper P/S ratio quartile of their industries.

TRI

Commercial & Professional Services industry group

6.09

Max: 7.17
TRI: 6.09
Q3: 3.35
Median: 1.33
Q1: 0.69
Min: 0.11

ULS

Commercial & Professional Services industry group

4.98

Max: 7.17
ULS: 4.98
Q3: 3.35
Median: 1.33
Q1: 0.69
Min: 0.11

Thomson Reuters (TRI) vs. UL (ULS): A comparison of their P/S ratio against the Commercial & Professional Services industry group benchmark.

P/B Ratio (MRQ)

Thomson Reuters (TRI) at 4.35 is valued about in line with its industry on P/B ratio, while UL (ULS) at 9.32 carries an above-peer premium to book — ULS is pricier on assets.

TRI

Commercial & Professional Services industry group

4.35

Max: 11.25
Q3: 6.08
TRI: 4.35
Median: 2.92
Q1: 1.55
Min: -2.78

ULS

Commercial & Professional Services industry group

9.32

Max: 11.25
ULS: 9.32
Q3: 6.08
Median: 2.92
Q1: 1.55
Min: -2.78

Thomson Reuters (TRI) vs. UL (ULS): A comparison of their P/B ratio against the Commercial & Professional Services industry group benchmark.

Valuation Metrics

Valuation metrics for Thomson Reuters (TRI) and UL (ULS)
Metric	TRI	ULS
P/E Ratio (TTM)	34.53	31.21
P/S Ratio (TTM)	6.09	4.98
P/B Ratio (MRQ)	4.35	9.32
Free Cash Flow Yield (TTM)	2.27%	2.94%