Does Refinitiv still exist as a company in 2026?

No. LSEG confirmed on 2026-07-07 that the Refinitiv brand has been fully retired, with all former products now sold under LSEG Data and Analytics, FTSE Russell, or LSEG Risk Intelligence. Refinitiv is now a wholly integrated part of London Stock Exchange Group, which acquired it in January 2021 for $27bn.

Is Refinitiv/LSEG Data and Analytics profitable?

Yes. Parent LSEG reported FY2025 EBITDA margin surpassing 50% for the first time, with 7.6% total revenue growth and 98% recurring revenue in the Data and Analytics division as of 2025-12-30, per LSEG's Annual Report 2025.

Could AI replace Refinitiv's terminal business?

Partially at the edges. AI-native tools like AlphaSense, Rogo, and Amsflow claim roughly 90% of Bloomberg-style terminal functionality at 2% of the cost (2026-03), but LSEG management says 90% of Data and Feeds revenue is protected by IP and locked-in workflows across 100 of the top 100 global banks.

Who owns Refinitiv now?

London Stock Exchange Group plc (LSE:LSEG) owns Refinitiv outright. LSEG completed its $27bn all-share acquisition of Refinitiv on 2021-01-29, after Thomson Reuters had sold 55% of the underlying Financial and Risk unit to Blackstone in October 2018 for a $20bn valuation.

Who is Refinitiv/LSEG's biggest competitor?

Bloomberg Terminal remains the main incumbent rival, with roughly 325,000 active terminals worldwide as of March 2026 in a long-running duopoly. S&P Global Market Intelligence is the faster-moving threat, having spent aggressively on AI, including a $1.8bn With Intelligence acquisition in March 2026.

What happened to Refinitiv Eikon?

Refinitiv Eikon was rebranded and continues as LSEG Workspace, an enterprise subscription data and analytics terminal for financial professionals, now integrating AI features and Microsoft Teams/Copilot connectivity as of the 2025-12-16 LSEG insights update.

Financial data and information services · absorbed · United Kingdom

Refinitiv

refinitiv.com ↗

Refinitiv is now LSEG Data & Analytics, selling market data, terminals, and indices to banks worldwide.

Hard to displace

Assessed 21 July 2026 · Evidence as of 21 July 2026

Strong structural protection; the business model survives ai pressure.

On the recordSince 21 July 2026 · Checkable from August 2026 · Every call on the record Checkpoint: Q2/H1 2026 earnings showing whether Workflows segment growth keeps decelerating

The call

The terminal business feels AI pressure at the edges while the data and index engine underneath keeps growing, and banks are locked into both.

Refinitiv (now part of LSEG) sells financial market data, indexes, and analytics tools to the world's biggest banks and investment firms. It is hard to replace because banks have been using these tools for decades, regulators require the data to be reliable, and Refinitiv makes 98% of its money from long-term contracts that renew automatically. However, newer AI companies like S&P Global are buying up smaller AI startups to offer cheaper, easier ways to do the same job, and standalone AI tools like AlphaSense are starting to take away some of Refinitiv's customers in the screening and analysis part of the business. The key thing to watch is whether Refinitiv can keep growing its core workflow business (where banks actually use the tools day to day), because if that slows down while smaller AI competitors keep gaining ground, Refinitiv's pricing power could shrink even if the company itself stays profitable.

Why

AI pressure: AlphaSense, Rogo, Amsflow and other AI-native research and screening tools. AI tools are cutting into terminal-style screening and comp analysis, the softest part of the business, not the data feeds. Could AI do the core job? Unlikely.

Bigger players: S&P Global Market Intelligence. S&P is buying AI startups like Drift AI and ProntoNLP to bolt AI onto Capital IQ and chase LSEG's seats at banks. Could a giant copy it? No, they are blocked.

What protects it. 100 of the top 100 global banks run their workflows on this data, and FTSE Russell indexes benchmark $18.1tn in assets that can't just switch overnight.

What would change this call

LSEG Workflows segment organic growth in Q2/H1 2026 results (Aug 2026). Further deceleration would show terminal-layer share slipping to AI-native rivals.
S&P Global reports demonstrable Capital IQ seat displacement at top-100 banks over 2-3 quarters. Would confirm S&P Global is actively winning workflow customers from LSEG.
AlphaSense or Rogo announce named enterprise bank contracts replacing Workspace/Eikon terminals. Would show AI-native entrants converting LSEG's terminal customers.

Key numbers

98% recurring revenue in Data & Analytics (2025-12-30)
Workflows growth 3.0% vs Data & Feeds 6.7% in Q4 2025 (2025-12-31)
$18.1tn in assets benchmarked to FTSE Russell indexes (2025-12-30)

Named risks

Workflows segment organic growth (3.0% Q4 2025) lagging Data and Feeds (6.7%), signaling terminal-layer softness. Severity: medium
Low-cost AI-native terminal entrants (AlphaSense, Rogo, Amsflow) could erode Workspace pricing power. Severity: medium
S&P Global's aggressive AI-driven acquisitions ($1.8bn With Intelligence, March 2026) intensify competitive pressure. Severity: medium
Ongoing 2025-2026 brand migration from Refinitiv to LSEG could disrupt legacy customer workflows. Severity: low

Rivals, as read in July 2026

Rival	Direction	Evidence
Bloomberg Terminal	contesting	Long-running ~325,000-terminal duopoly as of 2026-03; neither side displacing the other
S&P Global Market Intelligence	gaining on	Acquired Drift AI, ProntoNLP, and With Intelligence for $1.8bn by March 2026 in aggressive AI push
AlphaSense/Rogo/Amsflow	gaining on	Claim 90% of Bloomberg-style terminal functionality at 2% of cost as of 2026-03
FactSet Research Systems	contesting	Cited as ongoing enterprise analytics competitor in 2026 financial data software rankings

Questions people ask

Does Refinitiv still exist as a company in 2026?: No. LSEG confirmed on 2026-07-07 that the Refinitiv brand has been fully retired, with all former products now sold under LSEG Data and Analytics, FTSE Russell, or LSEG Risk Intelligence. Refinitiv is now a wholly integrated part of London Stock Exchange Group, which acquired it in January 2021 for $27bn.
Is Refinitiv/LSEG Data and Analytics profitable?: Yes. Parent LSEG reported FY2025 EBITDA margin surpassing 50% for the first time, with 7.6% total revenue growth and 98% recurring revenue in the Data and Analytics division as of 2025-12-30, per LSEG's Annual Report 2025.
Could AI replace Refinitiv's terminal business?: Partially at the edges. AI-native tools like AlphaSense, Rogo, and Amsflow claim roughly 90% of Bloomberg-style terminal functionality at 2% of the cost (2026-03), but LSEG management says 90% of Data and Feeds revenue is protected by IP and locked-in workflows across 100 of the top 100 global banks.
Who owns Refinitiv now?: London Stock Exchange Group plc (LSE:LSEG) owns Refinitiv outright. LSEG completed its $27bn all-share acquisition of Refinitiv on 2021-01-29, after Thomson Reuters had sold 55% of the underlying Financial and Risk unit to Blackstone in October 2018 for a $20bn valuation.
Who is Refinitiv/LSEG's biggest competitor?: Bloomberg Terminal remains the main incumbent rival, with roughly 325,000 active terminals worldwide as of March 2026 in a long-running duopoly. S&P Global Market Intelligence is the faster-moving threat, having spent aggressively on AI, including a $1.8bn With Intelligence acquisition in March 2026.
What happened to Refinitiv Eikon?: Refinitiv Eikon was rebranded and continues as LSEG Workspace, an enterprise subscription data and analytics terminal for financial professionals, now integrating AI features and Microsoft Teams/Copilot connectivity as of the 2025-12-16 LSEG insights update.

Timeline

2026-07-07LSEG confirms Refinitiv brand fully retired; all products now under LSEG Data and Analytics
2026-04-23LSEG Q1 2026 trading update: Data and Analytics organic growth accelerates to 5.1%
2026-03-01S&P Global acquires With Intelligence for $1.8bn, intensifying AI-data competition
2026-02-26LSEG 2025 preliminary results: EBITDA margin surpasses 50% for first time
2025-12-30LSEG Annual Report 2025 published; 98% recurring revenue, $18.1tn FTSE Russell AUM
2025-10-13LSEG and Microsoft launch MCP server for AI-agent access to licensed data
2022-01-01LSEG and Microsoft announce 10-year strategic partnership with equity stake
2021-01-29LSEG completes $27bn all-share acquisition of Refinitiv
2019-08-01LSEG agrees to acquire Refinitiv in all-share deal valuing it at $27bn
2018-10-01Thomson Reuters sells 55% of Financial and Risk unit to Blackstone, forming Refinitiv, valued ~$20bn

Revision history

21 July 2026

First assessed. Hard to displace. The text above is fixed as of this date and is not edited afterwards.

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Sources

Refinitiv has now changed to LSEG (2026-07-07)
LSEG Annual Report 2025 (2025-12-30)
LSEG Q1 2026 Trading Update RNS (2026-04-23)
2025 Preliminary Results (2026-02-26)
Earnings call transcript: LSEG H2 2025 (2026-02-26)
Refinitiv (2026-03-20)
Thomson Reuters announces closing of sale of Refinitiv to LSEG (2021-01-29)
gurufocus.com (2026-07-21)
LSEG and Microsoft launch 10-year strategic partnership (2022-01-01)
From interoperability to agents: powering financial workflows with AI (2025-12-16)
LSEG Annual Report 2025 preview (2025-12-30)
LSEG and Microsoft transform access to AI-ready financial data (2025-10-13)