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RELX plc
(LSE:REL)
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Rating:78Outperform
Price Target:
3,095.00 p
▲(20.52% Upside)
Action:Reiterated
Date:07/23/26
The score is driven primarily by strong financial quality (high margins and robust free cash flow) and a positive earnings update featuring broad-based growth and margin expansion. Offsetting factors are balance-sheet leverage and only neutral technicals, while valuation appears fair rather than clearly discounted.
Positive Factors
Cash generation & conversion
Exceptional and consistent cash generation—operating cash flow and free cash flow have grown steadily, with near 100% cash conversion recently—provides durable funding for R&D, targeted M&A, dividend increases and buybacks while supporting resilience through cycles.
Negative Factors
Elevated leverage and weakened equity
Material leverage and a recent decline in equity reduce financial flexibility for large acquisitions or shock absorption. Higher debt levels increase interest and refinancing exposure, constraining capital allocation and amplifying downside risk in slower growth scenarios.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation & conversion
Exceptional and consistent cash generation—operating cash flow and free cash flow have grown steadily, with near 100% cash conversion recently—provides durable funding for R&D, targeted M&A, dividend increases and buybacks while supporting resilience through cycles.
Read all positive factors
RELX plc (REL) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£45.83B
Dividend Yield1.55%
Average Volume (3M)4.73M
Price to Earnings (P/E)20.7
Beta (1Y)0.64
Revenue Growth1.95%
EPS Growth20.56%
CountryUK
Employees37,000
SectorIndustrials
Sector Strength72
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)1.26
Shares Outstanding1,749,405,200
10 Day Avg. Volume6,060,784
30 Day Avg. Volume4,731,733
Financial Highlights & Ratios
PEG Ratio3.09
Price to Book (P/B)23.41
Price to Sales (P/S)5.78
P/FCF Ratio19.40
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£3,530.00Price Target Upside37.46% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)1.42
Revenue Forecast (FY)£10.07B
RELX plc Business Overview & Revenue Model
Company Description
RELX PLC is a global enterprise that furnishes professional and business clients with sophisticated information-based analytics and decision-making instruments across North America, Europe, and other international markets. Its operations are organ...
How the Company Makes Money
RELX primarily generates revenue by selling information, analytics, and workflow tools that help customers make decisions and manage risk. In Risk, it earns money from subscriptions and usage-based fees for access to proprietary datasets, identity...
RELX plc Earnings Call Summary
Earnings Call Date:Jul 23, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Feb 18, 2027
Earnings Call Sentiment Positive
The call presented a predominately positive performance: broad-based underlying revenue and profit growth across all four divisions, margin expansion, strong cash generation, an increased dividend and substantial share buybacks. Key growth drivers are the rollout and adoption of AI-enabled analytics and decision tools across Risk, STM and Legal, with early product launches (e.g., LeapSpace, Lexis+ with Protege) showing promising adoption metrics. Headwinds include event timing and Middle East uncertainty for Exhibitions, ongoing print decline, currency translation effects reducing sterling-reported growth, slightly higher leverage from buybacks, and external policy/legal uncertainties. Overall the positives (divisional momentum, margin improvement, cash strength and capital returns) materially outweigh the challenges noted.Positive Updates
Strong Group Financial Performance
Underlying revenue growth 7%; underlying adjusted operating profit growth 9%; adjusted earnings per share up 11% at constant currency (68.6p, +8% in sterling). Adjusted operating margin improved by 70 basis points to 35.5%.
Negative Updates
Exhibitions profitability and event timing disruption
H1 underlying adjusted operating profit growth for Exhibitions was only 2% (vs 6% revenue growth), affected by event cycling, timing and rescheduling into H2 and travel disruption; uncertainty remains around some Middle East events (these represent ~3% of divisional revenue or <0.5% of group revenue depending on timing).
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Group Financial Performance
Underlying revenue growth 7%; underlying adjusted operating profit growth 9%; adjusted earnings per share up 11% at constant currency (68.6p, +8% in sterling). Adjusted operating margin improved by 70 basis points to 35.5%.
Read all positive updates
Company Guidance
Guidance: management expects another full year of "continued strong" underlying revenue growth with underlying adjusted operating profit growth exceeding revenue growth and strong constant‑currency adjusted EPS growth. This view is backed by H1 results: underlying revenue +7%, underlying adjusted operating profit +9%, adjusted EPS +11% at constant currency (68.6p, +8% in sterling), group adjusted operating margin up 70bps to 35.5%, and divisional H1 performances of Risk revenue +8% / adjusted operating profit +10%, STM revenue +6% / profit +8%, Legal revenue +10% / profit +13%, and Exhibitions revenue +6% (H1 profit +2%) with an expected full‑year margin improvement; cash conversion was 98%, EBITDA ~£2.0bn, free cash flow >£1.1bn, CapEx £292m (6% of revenue), net debt £8.7bn (net debt/EBITDA 2.3x), interim dividend +7% to 20.9p, £103m of acquisitions, and £1.75bn of the £2.25bn buyback completed — while management will continue to target cost growth below revenue growth to drive profit and margin expansion.RELX plc Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
62
Positive
Cash Flow
88
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.72B | 9.59B | 9.43B | 9.16B | 8.55B | 7.24B |
| Gross Profit | 6.09B | 6.11B | 6.13B | 5.95B | 5.51B | 4.68B |
| EBITDA | 4.04B | 3.69B | 3.54B | 3.31B | 3.06B | 2.65B |
| Net Income | 2.26B | 2.06B | 1.93B | 1.78B | 1.63B | 1.47B |
Balance Sheet | ||||||
| Total Assets | 15.03B | 14.76B | 15.13B | 14.92B | 15.83B | 13.86B |
| Cash, Cash Equivalents and Short-Term Investments | 220.00M | 131.00M | 119.00M | 155.00M | 334.00M | 113.00M |
| Total Debt | 8.91B | 7.33B | 6.54B | 6.50B | 6.73B | 6.17B |
| Total Liabilities | 13.78B | 12.37B | 11.63B | 11.48B | 12.07B | 10.63B |
| Stockholders Equity | 1.24B | 2.37B | 3.48B | 3.46B | 3.78B | 3.23B |
Cash Flow | ||||||
| Free Cash Flow | 2.90B | 2.85B | 2.12B | 2.00B | 1.97B | 1.68B |
| Operating Cash Flow | 2.92B | 2.88B | 2.61B | 2.46B | 2.40B | 2.02B |
| Investing Cash Flow | -681.00M | -829.00M | -575.00M | -569.00M | -859.00M | -384.00M |
| Financing Cash Flow | -2.24B | -2.03B | -2.06B | -2.06B | -1.33B | -1.61B |
RELX plc Technical Analysis
Positive
2568.00
Price Trends
2479.98
Positive
2482.37
Positive
2634.94
Negative
Market Momentum
55.42
Positive
53.49
Neutral
10.20
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:REL, the sentiment is Positive. The current price of 2568 is below the 20-day moving average (MA) of 2581.07, above the 50-day MA of 2479.98, and below the 200-day MA of 2634.94, indicating a neutral trend. The MACD of 55.42 indicates Positive momentum. The RSI at 53.49 is Neutral, neither overbought nor oversold. The STOCH value of 10.20 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:REL.
RELX plc Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | £529.35M | 19.48 | 12.74% | 2.67% | -9.72% | 6.73% | |
78 Outperform | £45.83B | 20.71 | 125.53% | 2.63% | 1.95% | 20.56% | |
69 Neutral | £11.31B | 52.77 | 3.90% | 2.50% | 4.51% | 216.21% | |
65 Neutral | £7.33B | 23.87 | 9.26% | 2.06% | 3.24% | -25.23% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | £437.97M | -4.51 | -12.70% | 7.63% | -0.86% | -481.50% | |
50 Neutral | £134.92M | -0.75 | -36.14% | 17.58% | -6.48% | -458.95% |
* Industrials Sector Average
GB:REL
RELX plc
2,608.00
-834.67
-24.24%
GB:BMY
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642.00
176.38
37.88%
GB:INF
Informa
901.80
61.21
7.28%
GB:PSON
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1,203.50
165.28
15.92%
GB:RWS
RWS Holdings
118.60
40.37
51.60%
GB:RCH
Reach plc
42.75
-19.38
-31.19%
RELX plc Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
RELX PDMR Rosemary Thomson Exercises Share Options to Acquire 910 Shares
Neutral
Aug 6, 2026
RELX plc reported that person discharging managerial responsibilities Rosemary Thomson acquired 910 ordinary shares of the company through the exercise of a share option granted under the RELX Group plc 2023 SAYE Share Option Scheme. The transacti...
Regulatory Filings and Compliance
RELX Updates Total Voting Rights Following Treasury Share Holdings
Neutral
Aug 3, 2026
RELX plc has confirmed that, as of 31 July 2026, its issued share capital comprises 1,828,549,401 ordinary shares, of which 78,486,548 are held in Treasury. This leaves a total of 1,750,062,853 voting rights in the company, reflecting the shares i...
Business Operations and StrategyStock Buyback
RELX Expands Share Buyback with Further Treasury Purchases
Positive
Aug 3, 2026
RELX plc has continued its share buyback activity, repurchasing 880,031 ordinary shares on the London Stock Exchange between 27 and 31 July 2026 through ABN AMRO Bank N.V., to be held as treasury shares. The purchases, executed at volume-weighted ...
Business Operations and StrategyStock Buyback
RELX expands treasury stock with further share buybacks
Positive
Jul 28, 2026
RELX plc has continued its share buyback programme, purchasing 917,978 ordinary shares on the London Stock Exchange between 20 and 24 July 2026 through ABN AMRO Bank N.V. The acquired shares, which were bought at volume-weighted average prices ran...
Business Operations and StrategyDelistings and Listing ChangesRegulatory Filings and Compliance
RELX Seeks LSE Admission for New Shares Under Executive Scheme
Positive
Jul 27, 2026
RELX PLC has applied to the London Stock Exchange for a block admission of 70,000 ordinary shares, which will be used to satisfy awards under the company’s Executive Share Ownership Scheme 2023. The new shares, expected to be admitted to tra...
Business Operations and StrategyExecutive/Board Changes
RELX Reshapes Board Committees as Andy Halford Takes Audit Chair
Neutral
Jul 23, 2026
RELX plc has announced a change in its board governance structure, appointing Andy Halford as Chair of the Audit Committee following the publication of its first-half 2026 results. The move refreshes oversight of the company’s financial repo...
Business Operations and StrategyStock Buyback
RELX Launches £150 Million Non-Discretionary Share Buyback as Part of £2.25 Billion 2026 Plan
Positive
Jul 23, 2026
RELX plc has launched an irrevocable, non-discretionary programme to repurchase its ordinary shares between 23 July and 4 September 2026, committing £150 million over the period. The move follows the recent completion of a £100 million b...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
RELX lifts earnings and dividend as analytics push and AI-driven tools fuel growth
Positive
Jul 23, 2026
RELX reported strong first-half 2026 results, with revenue rising to £4.87bn on 7% underlying growth and adjusted operating profit up 9%, lifting the adjusted operating margin to 35.5%. Adjusted EPS increased 11% in constant currency, reporte...
Business Operations and StrategyStock Buyback
RELX boosts capital return with fresh treasury share buybacks
Positive
Jul 20, 2026
RELX PLC has continued its capital management strategy with a series of share repurchases on the London Stock Exchange between 13 July and 17 July 2026, buying a total of 1,348,055 ordinary shares through ABN AMRO Bank N.V. These shares are being ...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
RELX Boosts Capital Returns With Further Share Buybacks
Positive
Jul 13, 2026
RELX PLC has continued its share buyback activity, repurchasing 1,376,002 ordinary shares on the London Stock Exchange between 6 and 10 July 2026 through ABN AMRO Bank N.V., with the shares to be held in treasury. The company now holds 75,523,939 ...
Business Operations and StrategyStock BuybackFinancial Disclosures
RELX expands treasury holdings with continued share buybacks
Positive
Jul 6, 2026
RELX plc has continued its share buyback programme, purchasing 852,599 ordinary shares on the London Stock Exchange between 1 July and 3 July 2026 via ABN AMRO Bank N.V., with the shares to be held in treasury. Following these transactions, the co...
Regulatory Filings and Compliance
RELX updates total voting rights following Treasury share holdings
Neutral
Jul 1, 2026
RELX PLC has reported that as of 30 June 2026 its issued share capital comprises 1,828,471,801 ordinary shares, of which 73,295,338 are held in Treasury and therefore do not carry voting rights. This leaves a total of 1,755,176,463 voting rights i...
Business Operations and StrategyStock Buyback
RELX expands treasury stock with continued share buybacks
Positive
Jun 29, 2026
RELX plc has continued its share buyback activity, repurchasing 3,006,192 ordinary shares on the London Stock Exchange between 22 June and 26 June 2026 through ABN AMRO Bank. The shares, which will be held in treasury, were bought at volume-weight...
Business Operations and StrategyStock Buyback
RELX Launches £100 Million Non-Discretionary Share Buyback
Positive
Jun 29, 2026
RELX plc has launched an irrevocable, non-discretionary share buyback programme to repurchase its ordinary shares between 1 July and 21 July 2026, with a planned spend of £100 million following the recent completion of a £200 million pro...
Business Operations and StrategyStock Buyback
RELX Expands Treasury Stock with Further Share Buybacks
Positive
Jun 22, 2026
RELX plc has continued its share buyback activity, repurchasing 2,936,304 ordinary shares on the London Stock Exchange between 15 and 19 June 2026 through ABN AMRO Bank N.V., with the shares to be held in treasury. Following these transactions, th...
Executive/Board ChangesRegulatory Filings and Compliance
RELX Grants ShareSave Options to PDMR Rosemary Thomson
Neutral
Jun 18, 2026
RELX plc disclosed a transaction involving person discharging managerial responsibilities (PDMR) Rosemary Thomson, who received a grant of options over 922 ordinary shares under the company’s 2023 ShareSave Plan. The options, granted at an e...
Business Operations and StrategyDelistings and Listing Changes
RELX Seeks LSE Admission for 75,000 New Shares Under 2023 Sharesave Plan
Neutral
Jun 17, 2026
RELX plc has applied for a block admission of 75,000 new ordinary shares to be listed and traded on the London Stock Exchange, with the shares to rank pari passu with existing stock. The new shares will be allotted under the RELX PLC Sharesave Pla...
Business Operations and StrategyStock Buyback
RELX adds 2.8 million shares to treasury in latest buyback tranche
Positive
Jun 15, 2026
RELX PLC has continued its share buyback programme, purchasing 2,827,968 ordinary shares on the London Stock Exchange between 8 and 12 June 2026 via ABN AMRO Bank N.V., with the shares to be held in treasury. The transactions, executed at volume-w...
Business Operations and StrategyStock Buyback
RELX Expands 2026 Share Buyback with New £200 Million Programme
Positive
Jun 9, 2026
RELX plc has launched a new irrevocable, non-discretionary share buyback programme running from 9 June to 26 June 2026, under which it plans to repurchase £200 million of its ordinary shares. This follows the completion of a prior £150 m...
Business Operations and StrategyStock Buyback
RELX steps up capital return with further share buybacks
Positive
Jun 8, 2026
RELX plc has continued its share buyback programme, repurchasing 2,951,292 ordinary shares on the London Stock Exchange between 1 and 5 June 2026 through ABN AMRO Bank. The shares, which will be held in treasury, were bought at volume-weighted ave...
Regulatory Filings and Compliance
RELX Updates Total Voting Rights After Treasury Share Holdings
Neutral
Jun 1, 2026
RELX PLC has reported that, as of 29 May 2026, its issued share capital comprises 1,828,459,475 ordinary shares, of which 60,347,838 are held in treasury, leaving 1,768,111,637 shares carrying voting rights. This updated voting rights figure provi...
Business Operations and StrategyStock Buyback
RELX expands 2026 share buyback, lifting treasury stock to 61.6m shares
Positive
Jun 1, 2026
RELX PLC has continued its capital management programme by repurchasing 2,447,292 ordinary shares between 26 and 29 May 2026 on the London Stock Exchange via ABN AMRO Bank N.V., with the shares to be held in treasury. Following these transactions,...
Business Operations and StrategyDividends
RELX Sets Euro Equivalent for 2025 Final Dividend Ahead of June Payout
Positive
Jun 1, 2026
RELX plc has confirmed the euro equivalent of its previously announced final dividend for the 2025 financial year, setting the payout at €0.553 per share for shareholders receiving distributions in euros, versus 48.0 pence per share for thos...
Business Operations and StrategyStock Buyback
RELX Expands Treasury Stock with Latest £ Share Buybacks
Positive
May 26, 2026
RELX plc has continued its share buyback activity, repurchasing 3,293,200 ordinary shares on the London Stock Exchange between 18 and 22 May 2026 via J.P. Morgan Securities. The shares, bought at volume-weighted average prices between about 2,458p...
Business Operations and StrategyStock Buyback
RELX Launches New £150m Non-Discretionary Share Buyback as Part of £2.25bn 2026 Programme
Positive
May 26, 2026
RELX plc has launched an irrevocable, non-discretionary share buyback programme to repurchase ordinary shares between 26 May and 8 June 2026, with a planned spend of £150 million, following the recent completion of a £350 million program...
Business Operations and StrategyDelistings and Listing Changes
RELX Seeks LSE Admission for New Shares Under 2023 Employee Plan
Positive
May 19, 2026
RELX plc has applied to the London Stock Exchange for a block admission of 75,000 new ordinary shares to support its 2023 Sharesave Plan, a share scheme offered to employees. The new shares, which will rank equally with existing stock, are expecte...
Business Operations and StrategyStock Buyback
RELX expands treasury stock with latest share buyback tranche
Positive
May 18, 2026
RELX plc has continued its share buyback programme, purchasing 3,442,513 ordinary shares on the London Stock Exchange between 11 and 15 May 2026 through J.P. Morgan Securities, with the shares to be held in treasury. Following these transactions, ...
Business Operations and StrategyStock Buyback
RELX Expands 2026 Buyback With New Treasury Share Purchases
Positive
May 11, 2026
RELX plc has continued its share buyback programme, repurchasing 2,594,000 ordinary shares on the London Stock Exchange between 5 and 8 May 2026 through J.P. Morgan Securities. The shares, acquired at volume-weighted average prices ranging from ab...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.