Booz Allen Hamilton vs Thomson Reuters
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The short version
- Booz Allen Hamilton is the larger business, with $11.2B of revenue in fiscal 2026 against $7.5B for Thomson Reuters, about 1.5 times as much.
- Thomson Reuters grew revenue faster (3.0%, against −6.4%).
- Thomson Reuters kept more of each dollar of sales as operating profit (28.5% operating margin, against 9.2%).
- Thomson Reuters turned more of its sales into free cash flow (27.0% FCF margin, against 8.5%).
- Booz Allen Hamilton earned a higher return on the capital invested in it (24.2%, against 11.8%).
| Latest fiscal year | BAH · FY26 | TRI · FY25 |
|---|---|---|
| Size | ||
| Market cap | $9.4B | $55.4B |
| Revenue | $11.2B | $7.5B |
| Free cash flow | $951M | $2.0B |
| Net income | $851M | $1.5B |
| Growth | ||
| Revenue growth | −6.4% | 3.0% |
| 5-year growth | 7.4% | 4.6% |
| Share count change | −4.6% | −0.4% |
| Profitability | ||
| Gross margin | 52.7% | — |
| Operating margin | 9.2% | 28.5% |
| Net margin | 7.6% | 20.1% |
| FCF margin | 8.5% | 27.0% |
| Return on capital | 24.2% | 11.8% |
| Return on equity | 80.7% | 12.6% |
| Balance sheet | ||
| Net debt | $3.2B | $2.4B |
| Net debt / EBITDA | 2.7x | 1.1x |
| Dividends and buybacks | $874M | $1.0B |
| Valuation & quality | ||
| P/E | 12.2x | — |
| Piotroski F-score | 5 | 6 |
FY17
BAH $5.8B
TRI $5.3B
FY18
BAH $6.2B
TRI $5.5B
FY19
BAH $6.7B
TRI $5.9B
FY20
BAH $7.5B
TRI $6.0B
FY21
BAH $7.9B
TRI $6.3B
FY22
BAH $8.4B
TRI $6.6B
FY23
BAH $9.3B
TRI $6.8B
FY24
BAH $10.7B
TRI $7.3B
FY25
BAH $12.0B
TRI $7.5B
FY26
BAH $11.2B
TRI —
BAH
TRI
FY17
BAH 8.7%
TRI 19.5%
FY18
BAH 8.4%
TRI 14.2%
FY19
BAH 9.0%
TRI 20.3%
FY20
BAH 9.0%
TRI 32.2%
FY21
BAH 9.6%
TRI 19.6%
FY22
BAH 8.2%
TRI 27.7%
FY23
BAH 4.8%
TRI 34.3%
FY24
BAH 9.5%
TRI 29.1%
FY25
BAH 11.4%
TRI 28.5%
FY26
BAH 9.2%
TRI —
BAH
TRI
FY17
BAH $328M
TRI $1.5B
FY18
BAH $291M
TRI $1.5B
FY19
BAH $405M
TRI $197M
FY20
BAH $423M
TRI $1.2B
FY21
BAH $631M
TRI $1.3B
FY22
BAH $657M
TRI $1.3B
FY23
BAH $527M
TRI $1.8B
FY24
BAH $192M
TRI $1.9B
FY25
BAH $911M
TRI $2.0B
FY26
BAH $951M
TRI —
BAH
TRI
FY17
BAH 16.1%
TRI 5.1%
FY18
BAH 17.7%
TRI 4.9%
FY19
BAH 23.1%
TRI 10.8%
FY20
BAH 25.0%
TRI —
FY21
BAH 29.3%
TRI —
FY22
BAH 18.9%
TRI 9.0%
FY23
BAH 10.1%
TRI 13.2%
FY24
BAH 19.7%
TRI 15.5%
FY25
BAH 26.2%
TRI 11.8%
FY26
BAH 24.2%
TRI —
BAH
TRI
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.