Relx PLC RELX

IndustrialsSoftware & IT ServicesUnited Kingdom

Last close 40.46 USD on Nov 2, 2026, +2.8% year to date

Quant rating

Quant rating C Rank 179 of 418 in Industrials

Growth C 274 of 418
Valuation C 184 of 418
Quality C 173 of 418
Revisions C 245 of 418
Momentum B 87 of 418

Wall Street consensus Buy (1.67)Average target 47.81 USD +18.2%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 69.9B
Enterprise value: 81.5B
52-week range: 27.57 – 44.78
3-year range: 27.57 – 55.66
Dividend yield: 2.29%
Beta (5 years): 0.68
Shares outstanding: 1,740M
Next earnings: –

About the company

RELX PLC is a United Kingdom-based global provider of information-based analytics and decision tools for professional and business customers. The Company operates in four market segments: Risk; Scientific, Technical & Medical; Legal, and Exhibitions. The Risk segment provides customers with information-based analytics and decision tools that combine public and industry-specific content with advanced technology and algorithms to assist them in evaluating and predicting risk and enhancing operational efficiency. The Scientific, Technical & Medical segment helps researchers and healthcare professionals advance science and improve health outcomes by combining high-quality scientific and medical information. The Legal segment provides legal, regulatory and business information and analytics. The Exhibitions segment combines industry expertise with data and digital tools to help customers connect face-to-face and digitally, learn about markets, source products and complete transactions.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	12,921	11,803	11,661	10,347	9,800	–
Revenue growth	9.5%	1.2%	12.7%	5.6%	0.8%	5.9%
EPS (basic, normalized)	1.75	1.51	1.44	1.22	1.18	–
EPS growth	16.0%	5.1%	17.3%	3.7%	–	–
Gross margin	66.3%	65.0%	64.9%	64.4%	64.6%	65.0%
Net margin	21.5%	20.5%	19.4%	19.1%	20.3%	20.2%
ROE	70.6%	55.7%	49.2%	46.6%	55.2%	55.5%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Current ratio	–
Long-term debt (mil)	–
Net debt (mil)	–
Total equity (mil)	–
Net debt / equity	–
Net debt / EBITDA	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	12,921	+9.5%	6.3x	5,238	+16.3%	15.6x	1.75	+16.0%	23.1x
2026	13,529	+4.7%	6.0x	5,438	+3.8%	15.0x	1.88	+7.5%	21.5x
2027	14,458	+6.9%	5.6x	5,868	+7.9%	13.9x	2.13	+13.0%	19.0x
2028	15,555	+7.6%	5.2x	6,303	+7.4%	12.9x	2.40	+13.0%	16.8x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	13,529	−0.1%	−0.2%	−0.9%	1.88	−1.3%	−1.3%	−2.1%
2027	14,458	0.0%	−0.1%	−0.6%	2.13	−1.0%	−0.9%	−1.0%
2028	15,555	+0.2%	+0.2%	−0.7%	2.40	−0.8%	−0.8%	−1.4%

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	–	2,742	–	–	–	–	–	–	–	–
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

FQ0 is the most recent reported quarter, FQ-1 the one before, and so on.

Peer comparison Software & IT Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
RELX Relx PLC	69.9B	–	21.5%	42.71x	21.5x	19.0x	15.0x	13.9x
VRSK Verisk Analytics, Inc.	26.2B	2.27x	29.6%	−22.05x	26.2x	23.1x	16.6x	15.4x
LDOS Leidos Holdings, Inc.	18.1B	2.20x	8.4%	3.42x	11.6x	11.7x	9.5x	9.7x
CACI CACI International Inc	15.1B	3.88x	5.6%	3.25x	20.1x	17.4x	14.0x	12.9x
BAH Booz Allen Hamilton Holding Corporation	10.4B	3.32x	7.5%	8.43x	13.3x	13.0x	11.4x	10.8x
SAIC Science Applications International Corp	6.4B	3.33x	4.9%	4.47x	14.2x	13.3x	11.5x	11.4x
Mean		3.00x	12.9%	6.70x	17.8x	16.3x	13.0x	12.4x
Median		3.32x	8.0%	3.95x	17.1x	15.4x	12.8x	12.1x

Technical analysis

1M+21.1%
3M+15.1%
1Y−6.1%
3Y+21.8%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Relx PLC, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	12,921	11,803	11,661	10,347	9,800	9,721
Cost of revenue	4,356	4,129	4,094	3,684	3,466	3,400
Gross profit	8,565	7,674	7,567	6,663	6,334	6,321
Selling, general & administrative expenses	4,212	3,826	3,857	3,570	3,480	3,492
Research & development	–	–	–	–	–	–
Depreciation/amortization	334	323	355	305	327	425
Interest expense (income), operating	−59.3	−53.8	−58.6	−23.0	−39.2	−20.5
Unusual expense (income)	−12.1	7.5	91.6	12.1	−56.8	161
Other operating expenses	0	0	0	0	0	0
Operating income	4,090	3,572	3,322	2,799	2,623	2,263
Net interest income (expense)	−389	−372	−400	−237	−180	−220
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	4.0	−1.3	−1.3	−6.0	−12.2	−15.0
Net income before taxes	3,705	3,199	2,921	2,556	2,431	2,028
Provision for taxes	905	767	645	582	441	357
Minority interest	−17.5	−12.5	−8.9	2.4	0	21.9
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	2,782	2,420	2,267	1,977	1,990	1,693
Extraordinary items	–	–	–	–	–	−19.1
Net income	2,782	2,420	2,267	1,977	1,990	1,674
EBIT, normalized	4,092	3,612	3,427	2,863	2,556	2,387
EBITDA, normalized	5,105	4,592	4,436	3,813	3,535	3,411
Basic EPS, normalized	1.75	1.51	1.44	1.22	1.18	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Relx PLC, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	176	149	197	404	153	120
Receivables	2,930	2,787	2,590	2,534	2,224	2,352
Total inventory	419	414	405	374	342	328
Prepaid expenses	395	354	367	375	428	283
Other current assets	67.4	43.8	99.3	25.4	41.9	26.0
Total current assets	3,988	3,748	3,658	3,713	3,189	3,109
Property, plant & equipment	214	214	270	328	395	517
Goodwill	10,684	10,279	10,212	10,147	9,966	9,877
Intangibles	4,139	3,958	4,122	4,263	4,470	4,683
Long-term investments	397	327	350	346	287	495
Note receivable	9.4	20.0	1.3	6.0	25.7	36.9
Other long-term assets	450	387	374	346	417	622
Total assets	19,882	18,933	18,988	19,148	18,749	19,340
Liabilities
Accounts payable	120	279	218	156	147	211
Payable/accrued	–	–	–	–	–	–
Accrued expenses	1,580	1,291	1,293	1,213	1,162	1,105
Short-term debt	1,195	953	280	123	177	420
Current portion of long-term debt	922	813	1,391	929	137	738
Other current liabilities	4,268	3,817	3,806	3,853	3,447	3,507
Total current liabilities	8,085	7,154	6,988	6,275	5,071	5,981
Long-term debt	7,674	6,421	6,599	7,089	8,029	8,581
Minority interest	32.3	28.8	−26.7	−26.6	−10.8	2.7
Other liabilities	903	975	1,023	1,244	1,287	1,906
Total liabilities	16,694	14,578	14,584	14,581	14,376	16,470
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	356	340	350	338	387	391
Additional paid-in capital	2,219	2,008	1,983	1,835	2,017	1,995
Retained earnings (accumulated deficit)	986	2,201	2,276	2,077	2,815	1,660
Treasury stock	−547	−903	−704	−501	−1,185	−1,213
Other equity	174	709	499	819	338	36.9
Total equity	3,188	4,355	4,404	4,568	4,373	2,870
Total liabilities & shareholders' equity	19,882	18,933	18,988	19,148	18,749	19,340

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Relx PLC, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	4,078	3,579	3,414	2,810	2,549	2,085
Depreciation, depletion & amortization	1,013	980	1,009	950	980	1,153
Deferred taxes	–	–	–	–	–	–
Non-cash items	25.6	28.8	12.7	32.7	21.6	13.7
Changes in working capital	−1,296	−1,325	−1,309	−888	−823	−1,069
Cash from operations	3,821	3,263	3,128	2,904	2,727	2,182
Investing activities
Capital expenditures	−707	−606	−607	−527	−456	−495
Other investing cash flows	−330	−114	−117	−512	−63.6	−1,109
Cash from investing	−1,037	−719	−724	−1,039	−520	−1,604
Financing activities
Financing cash flow items	−45.8	−12.5	−8.9	−12.1	−13.5	−8.2
Cash dividends paid	−1,591	−1,402	−1,348	−1,189	−1,245	−1,203
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−1,126	−1,169	−1,261	−413	−915	563
Cash from financing	−2,763	−2,584	−2,618	−1,614	−2,173	−648
Foreign exchange effects	−4.0	−5.0	−12.7	15.7	−1.4	1.4
Net change in cash	16.2	−45.0	−228	267	33.8	−68.4
Free cash flow	3,114	2,657	2,520	2,377	2,272	1,687

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.