LAW vs TLS vs TRI Stock Comparison

CS Disco, Telos and Thomson Reuters Prices as of Oct 26, 2026 Peers: Industry group
LAW CS Disco, Inc.
$4.97 +14.8% 1M -30.4% 1Y
Market cap
$325.67M
P/E
–
Revenue (TTM)
$167.12M
Div. yield
–
Compliance Software Technology
TLS Telos Corp
$5.22 +29.2% 1M -29.6% 1Y
Market cap
$419.79M
P/E
–
Revenue (TTM)
$193.71M
Div. yield
–
Compliance Software Technology
2 wins
TRI Thomson Reuters Corp /Can/
$122.08 +23.3% 1M -24.9% 1Y
Market cap
$52.26B
P/E
32.2x
Revenue (TTM)
$7.83B
Div. yield
-0.01%
Compliance Software Technology
6 wins

Head to Head

8 decided of 12

Thomson Reuters leads on 6 of the 12 questions below (Thomson Reuters 6, Telos 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionLAWTLSTRILeader
Larger companyMarket capitalisation $325.67M $419.79M $52.26B TRI
Cheaper on earningsLower P/E, profitable companies only -8.1x -26.7x 32.2x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS — 30.7x 27.3x TRI
Faster revenue growthRevenue growth, trailing twelve months +12.9% +65.9% +7.0% TLS
More profitableNet margin, trailing twelve months -24.2% -8.1% 20.7% TRI
Better return on capitalReturn on invested capital — — — –
Less leveragedLower net debt / EBITDA — — 1.2x –
Higher dividend yieldTrailing dividend yield 0.00% 0.00% -0.01% –
Better 1-year returnPrice return, last 12 months -30.4% -29.6% -24.9% TRI
Better 5-year returnAnnualised price return, 5 years -37.1%/yr -27.3%/yr -0.1%/yr TRI
Less volatileAnnualised volatility, 1 year 77.4% 66.0% 51.7% TRI
Higher overall scoreMean of the five percentile scores vs peers 45/100 65/100 56/100 TLS

Percentile Scorecard

LAWTLSTRI

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisLAWTLSTRI
Valuation 26 #76 of 102 66 #35 of 102 49 #53 of 102
Growth 53 #47 of 98 90 #11 of 98 28 #71 of 98
Profitability 32 #65 of 95 39 #58 of 95 99 #2 of 95
Financial Health 91 #11 of 109 70 #33 of 109 66 #38 of 109
Shareholder Returns 25 #48 of 64 60 #26 of 64 38 #40 of 64
Overall 45 65 56
  • LAW ranked among 115 companies in Business Applications
  • TLS ranked among 115 companies in Business Applications
  • TRI ranked among 115 companies in Business Applications

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodLAWTLSTRISPY
1 month +14.8%+29.2%+23.3% -0.8%
3 months +28.1%+12.7%+24.9% +3.5%
6 months +14.8%+18.6%+37.1% +7.0%
Year to date -36.0%+2.4%-7.4% +12.2%
1 year -30.4%-29.6%-24.9% +13.0%
3 years -13.6%+122.1%+3.6% +86.3%
3 years, per year -4.7%+30.5%+1.2% +23.1%
5 years -90.2%-79.7%-0.5% +68.6%
5 years, per year -37.1%-27.3%-0.1% +11.0%
10 years ——+196.4% +258.0%
10 years, per year ——+11.5% +13.6%

Risk

MeasureLAWTLSTRISPY
Volatility, 1Y 77.4%66.0%51.7% 12.7%
Downside volatility, 1Y 85.0%72.1%52.2% 12.7%
Beta vs S&P 500, 1Y 0.351.480.18 1.00
Return / volatility, 1Y -0.39-0.45-0.48 1.02
Max drawdown, 5Y -95.2%-94.0%-64.3% -25.4%
From 52-week high -44.2%-32.7%-24.8% -1.8%
52-week high $8.91$7.76$162.38 $779.14
52-week low $2.76$3.88$76.55 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleLAWTLSTRI
P/E now vs peer median -7.9xmedian 28.8x -24.8xmedian 28.8x 33.8xmedian 28.8x
P/S now vs peer median 1.9xmedian 2.8x 2.0xmedian 2.8x 6.9xmedian 2.8x
EV/EBITDA now vs peer median -5.6xmedian 17.7x -58.8xmedian 17.7x 27.0xmedian 17.7x
P/FCF now vs peer median -19.7xmedian 15.8x 11.6xmedian 15.8x 17.0xmedian 15.8x
P/B now vs peer median 2.7xmedian 3.2x 4.2xmedian 3.2x 4.9xmedian 3.2x
PEG now vs peer median -0.39median 0.85 -0.82median 0.85 3.26median 0.85

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsLAWTLSTRI
Revenue $167.12M $193.71M $7.83B
Gross profit $125.05M $70.97M –
Operating income -$43.01M -$19.21M $2.33B
Net income -$40.44M -$15.74M $1.68B
Free cash flow -$16.39M $33.74M $3.19B
R&D $58.00M $6.68M –
EPS (diluted) $-0.63 $-0.20 $3.61
Cash & equivalents $10.89M $50.65M $577.00M
Total debt – – $3.26B
Shares (diluted) 64.49M 77.55M 449.53M
Enterprise value -$106.85M $206.68M $49.05B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricLAWTLSTRI
P/E -7.9x -24.8x 33.8x
P/FCF -19.7x 11.6x 17.0x
P/Operating cash flow -24.8x 11.3x 18.8x
P/S 1.9x 2.0x 6.9x
P/B 2.7x 4.2x 4.9x
P/Tangible book 2.7x 6.1x 6.7x
EV/EBITDA -5.6x -58.8x 27.0x
EV/EBIT -5.1x -17.7x 24.4x
EV/Revenue 1.3x 1.8x 7.3x
EV/FCF -13.5x 10.1x 17.8x
EV/Operating cash flow -17.0x 9.8x 19.7x
PEG (3Y EPS CAGR) -0.39 -0.82 3.26

Growth

14 metrics
MetricLAWTLSTRI
Revenue growth (1Y) 12.9% 65.9% 7.0%
Revenue CAGR (3Y) 7.5% 2.7% 5.2%
Gross profit growth (1Y) 14.1% 87.4% –
Gross profit CAGR (3Y) 7.6% 2.9% –
Operating income growth (1Y) 30.0% 66.7% 9.1%
Operating income CAGR (3Y) 18.5% 25.2% -0.5%
Net income growth (1Y) 28.5% 71.6% 4.7%
Net income CAGR (3Y) 18.3% 27.6% -6.8%
EPS growth (1Y) 32.1% 73.2% 8.4%
EPS CAGR (3Y) 20.3% 30.2% 10.4%
Operating cash flow growth (1Y) 16.2% 862.1% 14.5%
Operating cash flow CAGR (3Y) 34.2% 102.6% 10.1%
Free cash flow growth (1Y) 11.0% 602.2% 13.0%
Free cash flow CAGR (3Y) 31.3% 112.3% 9.0%

Profitability

14 metrics
MetricLAWTLSTRI
Gross margin 74.8% 36.6% –
EBITDA margin -23.7% -3.0% 26.9%
Operating margin -25.7% -9.9% 29.7%
Pretax margin -23.8% -8.5% 46.5%
Net margin -24.2% -8.1% 20.7%
FCF margin -9.8% 17.4% 40.7%
Operating cash flow margin -7.8% 17.9% 36.9%
Return on equity -33.1% -16.6% –
Return on assets -25.0% -11.3% –
Return on invested capital – – –
Return on capital employed -34.6% -19.4% –
Asset turnover 1.0x 1.4x –
Cash conversion (OCF / net income) 0.3x -2.2x 1.7x
Stock comp / revenue 13.5% 11.1% –

Financial Health

11 metrics
MetricLAWTLSTRI
Debt / assets – – 18.0%
Debt / equity – – 0.3x
Net debt / EBITDA – – 1.2x
Debt / FCF – – 1.0x
Liabilities / assets 25.5% 33.2% 38.5%
Equity / assets 74.5% 66.8% 61.5%
Interest coverage – -39.8x 116.5x
Current ratio 3.8x 2.4x 0.5x
Quick ratio 3.7x 1.8x -2.5x
Cash ratio 2.7x 1.2x 0.2x
Altman Z-score 2.50 2.85 6.10

Shareholder Returns

7 metrics
MetricLAWTLSTRI
Dividend yield – – 3.3%
Net buyback yield 0.0% 4.2% -2.1%
Shareholder yield 0.0% 4.2% 1.1%
Payout ratio (earnings) – – 30.9%
Payout ratio (FCF) – – 16.3%
Dividend growth (1Y) – – -10.6%
Dividend CAGR (3Y) – – -8.5%

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusLAWTLSTRI
Forward P/E – 30.7xFY2026 27.3xFY2026
EPS, next fiscal year $-0.14FY2026 $0.17FY2026 $4.47FY2026
EPS growth, next FY – +88.9%FY2026 +12.6%FY2026
EPS growth, the year after – +23.5% +8.1%
Revenue, next fiscal year $183.94MFY2026 $179.38MFY2026 $7.73BFY2026
Revenue growth, next FY +17.3%FY2026 +8.8%FY2026 +3.8%FY2026
Revenue growth, the year after +2.7% +4.7% +15.5%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersLAWTLSTRI
Held by institutions 54.6% 67.4% 90.1%
Institutions holding 119 155 421
Change in shares held, QoQ -0.5% +4.5% +0.6%
Institutions buying 66 99 408
Institutions selling 31 40 9
Buyers to sellers 2.13 2.48 45.33

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

LAWTLSTRI
LAW 1.00 0.42 0.42
TLS 0.42 1.00 0.24
TRI 0.42 0.24 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, LAW, TLS and TRI?

Thomson Reuters (TRI) is the largest by market capitalisation: CS Disco (LAW) $325.67M, Telos (TLS) $419.79M, Thomson Reuters (TRI) $52.26B.

Which company is growing faster?

Telos (TLS) grew revenue fastest over the trailing twelve months: CS Disco (LAW) +12.9%, Telos (TLS) +65.9%, Thomson Reuters (TRI) +7.0%.

Which company is more profitable?

Thomson Reuters (TRI) has the highest net margin (CS Disco (LAW) -24.2%, Telos (TLS) -8.1%, Thomson Reuters (TRI) 20.7%).

Which stock has performed better?

Over the past year Thomson Reuters (TRI) returned the most: CS Disco (LAW) -30.4%, Telos (TLS) -29.6%, Thomson Reuters (TRI) -24.9%. Over five years, Thomson Reuters (TRI) compounded fastest (CS Disco (LAW) -37.1%/yr, Telos (TLS) -27.3%/yr, Thomson Reuters (TRI) -0.1%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Thomson Reuters (TRI) has been the steadiest (CS Disco (LAW) 77.4%, Telos (TLS) 66.0%, Thomson Reuters (TRI) 51.7%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, LAW, TLS and TRI?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Thomson Reuters (TRI) leads on 6. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.