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:Reiterated
Date: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
Cash generation
RELX's consistent ~99% cash conversion and very high free cash flow create a durable funding source for dividends, buybacks, and organic investment. Strong operating cash cushions the firm against cyclical shocks and funds deleveraging or selective M&A without immediate reliance on external financing.
Negative Factors
Elevated leverage
Net debt around ~£7bn and elevated debt/equity reduce balance-sheet flexibility and increase interest and refinancing sensitivity. Higher leverage narrows room for error, constrains larger inorganic opportunities, and raises downside risk if cash flow weakens or macro costs rise over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
RELX's consistent ~99% cash conversion and very high free cash flow create a durable funding source for dividends, buybacks, and organic investment. Strong operating cash cushions the firm against cyclical shocks and funds deleveraging or selective M&A without immediate reliance on external financing.
Read all positive factors
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 (RELX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$57.56B
Dividend Yield2%
Average Volume (3M)2.60M
Price to Earnings (P/E)12.6
Beta (1Y)0.52
Revenue Growth4.85%
EPS Growth12.14%
CountryUS
Employees34,580
SectorIndustrials
Sector Strength72
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)1.11
Shares Outstanding1,776,062,400
10 Day Avg. Volume2,555,478
30 Day Avg. Volume2,597,282
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 Cap0.90
Enterprise Value/Revenue5.39
Enterprise Value/Gross Profit8.30
Enterprise Value/Ebitda15.18
Forecast
1Y Price Target
$47.20Price Target Upside17.47% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)1.91
Revenue Forecast (FY)$13.71B
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 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
Neutral
40.18
Price Trends
33.82
Positive
34.75
Negative
39.36
Negative
Market Momentum
-0.43
Positive
50.51
Neutral
28.64
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RELX, the sentiment is Neutral. The current price of 40.18 is above the 20-day moving average (MA) of 34.48, above the 50-day MA of 33.82, and above the 200-day MA of 39.36, indicating a neutral trend. The MACD of -0.43 indicates Positive momentum. The RSI at 50.51 is Neutral, neither overbought nor oversold. The STOCH value of 28.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | $12.06B | 38.58 | 19.22% | 0.95% | 10.41% | 27.40% | |
71 Outperform | $2.06B | 13.74 | 20.75% | 4.48% | -1.90% | 283.01% | |
69 Neutral | $57.56B | 12.60 | 90.85% | 2.00% | 4.85% | 12.14% | |
66 Neutral | $863.17M | 3.53 | 6.91% | 2.78% | 1.38% | 296.53% | |
64 Neutral | $8.86B | 9.74 | 9.26% | 2.11% | 3.91% | -19.81% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
RELX
Relx
33.96
-19.72
-36.74%
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SCHL
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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.