Why Invest

Key Operating and Competitive Advantages

We derive the majority of our revenues from selling electronic content and services to professionals, primarily on a subscription basis. Our businesses provide solutions, software and workflow tools which integrate our core data and information. Some of our key operating and competitive advantages:

Industry Leader
  • #1 or #2 positions in key Legal, Corporates & Tax & Accounting and Government market segments
  • Resilient businesses, historically stable – Affirmed by performance during COVID-19
  • Products and services tailored for professionals
Balanced & Diversified
  • Distinct core customer group revenues:
    • Legal Professionals
    • Corporates
    • Tax & Accounting Professionals
    • Reuters News
    • Global Print
  • Geographical diversity by revenues:
    • 79% from the Americas
    • 17% from Europe, the Middle East and Africa
    • 4% from Asia Pacific
  • Largest customer, excluding Refinitiv, accounts for ~3% of revenues
  • ~500,000 customers
Attractive Business Model
  • ~79% of total revenue is recurring
  • 90% of total revenues are delivered electronically, including cloud-based offerings
  • Strong & consistent cash generation capabilities
Strong Competitive Positioning
  • • Proprietary content plus data and human expertise combined with artificial intelligence and machine learning are key differentiators
  • • Products deeply embedded in customers’ daily workflows
  • ~91% retention rates
Disciplined Financial Policies
  • Focused and incentivized on organic revenue growth and free cash flow growth
  • Balance investing in business and returning capital to shareholders
  • Committed to maintaining investment grade rating with stable capital structure
  • Significant potential capital capacity over next 4 years affords significant optionality

*As of 12/31/2020

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