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