Relx PLC (ADR) (RELX)
NYSE:RELX
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Relx
(NYSE:RELX)
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Rating:69Neutral
Price Target:
$37.00
▼(-7.91% Downside)
Action:ReiteratedDate:02/18/26
Strong fundamentals (high margins and very strong cash generation) and a positive earnings outlook with substantial capital returns are the main supports. The score is held back by weak technicals (price below all major moving averages with negative momentum) and balance-sheet leverage/equity decline, while valuation is reasonable but not clearly cheap.
Positive Factors
Exceptional cash generation & conversion
Near-100% cash conversion and multi-billion free cash flow provide durable funding for dividends, buybacks, organic investment and debt servicing. This cash reliability supports capital allocation flexibility and resilience through cycles, enabling strategic investment in AI and product build-out.
Negative Factors
Elevated leverage and reduced equity
Material debt loads and a decline in equity reduce balance-sheet flexibility and increase sensitivity to interest or revenue shocks. Targeted leverage of 2.0–2.5x leaves less headroom for large acquisitions or downturns, constraining strategic optionality and raising refinancing or covenant risk in adverse scenarios.
Read all positive and negative factors
Positive Factors
Negative Factors
Exceptional cash generation & conversion
Near-100% cash conversion and multi-billion free cash flow provide durable funding for dividends, buybacks, organic investment and debt servicing. This cash reliability supports capital allocation flexibility and resilience through cycles, enabling strategic investment in AI and product build-out.
Read all positive factors
Relx (RELX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$58.99B
Dividend Yield2%
Average Volume (3M)3.43M
Price to Earnings (P/E)27.2
Beta (1Y)0.49
Revenue Growth5.32%
EPS Growth6.06%
CountryUS
Employees34,580
SectorIndustrials
Sector Strength72
IndustryPublishing
Share Statistics
EPS (TTM)0.80
Shares Outstanding1,790,524,300
10 Day Avg. Volume2,477,358
30 Day Avg. Volume3,431,813
Financial Highlights & Ratios
PEG Ratio4.01
Price to Book (P/B)23.30
Price to Sales (P/S)5.87
P/FCF Ratio19.71
Enterprise Value/Market Cap0.88
Enterprise Value/Revenue5.46
Enterprise Value/Gross Profit8.40
Enterprise Value/Ebitda15.35
Forecast
1Y Price Target
$47.20Price Target Upside17.47% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)1.89
Revenue Forecast (FY)$13.69B
Relx Business Overview & Revenue Model
Company Description
RELX PLC provides information-based analytics and decision tools for professional and business customers in North America, Europe, and internationally. It operates through four segments: Risk; Scientific, Technical & Medical; Legal; and Exhibition...
How the Company Makes Money
RELX primarily makes money by selling subscription and license access to specialized content, databases, and analytics platforms used by institutions and professionals, complemented by transactional revenues and event-related fees.
1) Subscriptio...
Relx Key Performance Indicators (KPIs)
Any
Revenue by Segment
Analyzes income from different business units, highlighting which segments are driving growth and which may need strategic adjustments.
Analyzes income from different business units, highlighting which segments are driving growth and which may need strategic adjustments.
Data provided by:
The Fly
The FlyRelx Earnings Call Summary
Earnings Call Date:Feb 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Positive
The call conveyed a broadly positive performance: solid underlying revenue (7%), stronger operating profit (9%), EPS growth (10% constant currency), margin expansion (~90bps), strong cash generation and meaningful capital returns (dividend increase and large buyback). All four divisions grew (Risk, Legal, STM, Exhibitions) with notable AI-driven adoption in Legal and Risk and strong research submission trends in STM. Offsets include a material reduction in print-related revenue (>20%), portfolio effects and currency headwinds that restrained reported sterling growth, selective (below-average) M&A activity, and some timing/competitive risks in new product rollouts and workflow competition. On balance the positives substantially outweigh the negatives.Positive Updates
Strong Group Financial Performance
Underlying revenue growth 7%; underlying adjusted operating profit growth 9%; adjusted earnings per share up 10% at constant currency (128.5p, +7% in sterling). Group adjusted operating margin improved by ~90 basis points to 34.8%.
Negative Updates
Print and Print-Related Revenue Decline
Proactive reduction in print-related activities led to a reduction in associated revenue of over 20%. Profit from print and print-related activities declined and is expected to continue to decline in the high single digits annually.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Group Financial Performance
Underlying revenue growth 7%; underlying adjusted operating profit growth 9%; adjusted earnings per share up 10% at constant currency (128.5p, +7% in sterling). Group adjusted operating margin improved by ~90 basis points to 34.8%.
Read all positive updates
Company Guidance
Management guidance is for continued strong underlying revenue growth across the Group, with underlying adjusted operating profit growth ahead of revenue and strong adjusted EPS growth on a constant‑currency basis; divisional guidance was consistent with that view (Risk: sustain strong long‑term growth — FY25 underlying revenue +8% and underlying adjusted operating profit +10%; STM: “good to strong” revenue growth — FY25 revenue +5% and op profit +7%; Legal: continued strong revenue growth — FY25 revenue +9% and op profit +12%; Exhibitions: continued strong revenue growth and an improvement in adjusted operating margin — FY25 revenue +8% and op profit +9%, margin +250bps). They reiterated CapEx around 5% of revenue (FY25 CapEx £525m), organic development as top priority, selective M&A (FY25 acquisitions £270m; 10‑year average c.£400m p.a.), dividend up 7% to 67.5p, a £2.25bn buyback for 2026 (£250m deployed), targeted leverage 2.0–2.5x (year‑end 2025 net debt £7.2bn, net debt/EBITDA 2.0x), cash conversion 99%, and an expectation that print‑related profit will continue to decline in the high single digits annually.Relx Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
58
Neutral
Cash Flow
86
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 9.38B | 9.43B | 9.16B | 8.55B | 7.24B |
| Gross Profit | 5.98B | 6.13B | 5.95B | 5.51B | 4.68B |
| EBITDA | 3.72B | 3.13B | 3.31B | 3.06B | 2.65B |
| Net Income | 2.02B | 1.93B | 1.78B | 1.63B | 1.47B |
Balance Sheet | |||||
| Total Assets | 14.73B | 15.13B | 14.92B | 15.83B | 13.86B |
| Cash, Cash Equivalents and Short-Term Investments | 130.77M | 119.00M | 155.00M | 334.00M | 113.00M |
| Total Debt | 7.32B | 6.54B | 6.50B | 6.73B | 6.17B |
| Total Liabilities | 12.35B | 11.63B | 11.48B | 12.07B | 10.63B |
| Stockholders Equity | 2.36B | 3.48B | 3.46B | 3.78B | 3.23B |
Cash Flow | |||||
| Free Cash Flow | 2.79B | 2.59B | 1.98B | 1.97B | 1.68B |
| Operating Cash Flow | 2.81B | 2.61B | 2.46B | 2.40B | 2.02B |
| Investing Cash Flow | -810.83M | -575.00M | -569.00M | -859.00M | -384.00M |
| Financing Cash Flow | -1.99B | -2.06B | -2.06B | -1.33B | -1.61B |
Relx Technical Analysis
Negative
40.18
Price Trends
32.84
Positive
36.73
Negative
42.41
Negative
Market Momentum
-0.13
Negative
48.16
Neutral
62.14
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RELX, the sentiment is Negative. The current price of 40.18 is above the 20-day moving average (MA) of 33.35, above the 50-day MA of 32.84, and below the 200-day MA of 42.41, indicating a neutral trend. The MACD of -0.13 indicates Negative momentum. The RSI at 48.16 is Neutral, neither overbought nor oversold. The STOCH value of 62.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for RELX.
Relx Risk Analysis
Relx disclosed 17 risk factors in its most recent earnings report. Relx reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Relx Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $12.79B | 32.93 | 17.55% | 0.95% | 8.43% | 21.38% | |
70 Outperform | $1.97B | 13.74 | 20.75% | 4.48% | -5.33% | ― | |
69 Neutral | $58.99B | 27.25 | 90.85% | 2.00% | 5.32% | 6.06% | |
66 Neutral | $860.35M | 3.53 | 6.91% | 2.78% | 2.53% | -23.86% | |
64 Neutral | $8.14B | 20.71 | 9.26% | 2.11% | 1.93% | 34.40% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
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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.