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RELX plc
(LSE:REL)
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Rating:79Outperform
Price Target:
3,467.00 p
▲(32.43% Upside)
Action:Reiterated
Date:10/23/26
The score is driven primarily by strong underlying financial quality (high margins and robust free-cash-flow generation) and a constructive earnings outlook with margin expansion and strong cash conversion. This is tempered by balance-sheet leverage, overextended technical momentum signals (RSI/Stoch), and a valuation that reflects a premium multiple rather than clear cheapness.
Positive Factors
Recurring information-services model
Subscription, licensing and usage-based revenues create repeat customer engagement across Risk, STM and Legal. Proprietary content, data and integrated workflows can support renewals and make the services operationally important, providing a durable base for revenue visibility.
Negative Factors
Elevated balance-sheet leverage
Leverage reduces financial flexibility even though operating returns and cash generation are strong. Debt service and refinancing obligations can constrain investment or shareholder distributions, while further borrowing would leave the company more exposed to weaker operating conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring information-services model
Subscription, licensing and usage-based revenues create repeat customer engagement across Risk, STM and Legal. Proprietary content, data and integrated workflows can support renewals and make the services operationally important, providing a durable base for revenue visibility.
Read all positive factors
RELX plc (REL) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£52.03B
Dividend Yield2.3%
Average Volume (3M)4.33M
Price to Earnings (P/E)23.8
Beta (1Y)0.70
Revenue Growth1.95%
EPS Growth20.56%
CountryUK
Employees37,000
SectorIndustrials
Sector Strength72
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)1.26
Shares Outstanding1,741,044,000
10 Day Avg. Volume4,862,636
30 Day Avg. Volume4,328,632
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
£3,551.50Price Target Upside35.66% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)1.42
Revenue Forecast (FY)£10.05B
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 makes money by selling subscription-based and recurring-access information services, analytics, and workflow tools to enterprise and professional customers, complemented by transactional and event-driven revenue in certain segments....
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 | 3.89B | 3.77B | 3.62B | 3.39B | 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 | 2.63B | 2.45B | 2.40B | 2.01B |
| Operating Cash Flow | 2.92B | 2.88B | 2.65B | 2.48B | 2.43B | 2.04B |
| Investing Cash Flow | -681.00M | -829.00M | -613.00M | -590.00M | -893.00M | -404.00M |
| Financing Cash Flow | -2.24B | -2.03B | -2.06B | -2.06B | -1.33B | -1.61B |
RELX plc Technical Analysis
Positive
2618.00
Price Trends
2637.46
Positive
2560.07
Positive
2522.34
Positive
Market Momentum
122.57
Negative
75.51
Negative
91.91
Negative
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 2618 is below the 20-day moving average (MA) of 2753.05, below the 50-day MA of 2637.46, and above the 200-day MA of 2522.34, indicating a bullish trend. The MACD of 122.57 indicates Negative momentum. The RSI at 75.51 is Negative, neither overbought nor oversold. The STOCH value of 91.91 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:REL.
RELX plc Risk Analysis
RELX plc disclosed 17 risk factors in its most recent earnings report. RELX plc 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 plc Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | £52.03B | 23.79 | 125.53% | 2.30% | 1.95% | 20.56% | |
77 Outperform | £504.10M | 25.10 | 9.41% | 2.62% | -6.66% | -10.04% | |
69 Neutral | £11.34B | 49.41 | 3.90% | 2.70% | 4.51% | 216.21% | |
65 Neutral | £8.22B | 26.90 | 9.13% | 1.87% | 3.24% | -25.23% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | £530.76M | -5.49 | -12.70% | 4.44% | -0.86% | -481.50% | |
60 Neutral | £154.64M | -0.87 | -36.14% | 12.04% | -6.48% | -458.95% |
* Industrials Sector Average
GB:REL
RELX plc
2,998.00
-409.60
-12.02%
GB:BMY
Bloomsbury Publishing
619.00
123.70
24.98%
GB:INF
Informa
833.60
-109.21
-11.58%
GB:PSON
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1,372.00
291.35
26.96%
GB:RWS
RWS Holdings
143.00
68.31
91.45%
GB:RCH
Reach plc
49.00
-5.16
-9.52%
RELX plc Corporate Events
Business Operations and StrategyStock Buyback
RELX Extends 2026 Share Buyback Programme and Cancels Treasury Shares
Positive
Oct 22, 2026
RELX plc has launched an irrevocable, non-discretionary share buyback programme running from 22 October to 2 December 2026, with a planned spend of £125 million, following the completion of a similar £125 million programme the previous d...
Business Operations and StrategyFinancial Disclosures
RELX lifts growth outlook as AI-driven analytics power strong 2026 trading
Positive
Oct 22, 2026
RELX reported underlying revenue growth of 7% for the first nine months of 2026 and reaffirmed expectations for strong full-year increases in revenue, adjusted operating profit and adjusted earnings per share on a constant currency basis. Manageme...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
RELX boosts capital return with October share buybacks
Positive
Oct 19, 2026
RELX PLC repurchased 672,962 ordinary shares on the London Stock Exchange between 12 and 16 October 2026, executing the transactions via J.P. Morgan Securities and retaining the shares in treasury. The purchases were made at prices ranging from 2,...
Business Operations and StrategyDelistings and Listing Changes
RELX Seeks LSE Admission for New Shares Under Executive Ownership Scheme
Neutral
Oct 13, 2026
RELX PLC has applied for the admission of 65,000 new ordinary shares to trading on the London Stock Exchange, linked to the company’s Executive Share Ownership Scheme 2023. The shares, expected to be admitted on 19 October 2026, will join th...
Business Operations and StrategyStock Buyback
RELX expands treasury stock with latest share buyback tranche
Positive
Oct 12, 2026
RELX PLC continued its share buyback activity between 5 and 9 October 2026, repurchasing 738,220 ordinary shares on the London Stock Exchange via J.P. Morgan Securities, with the shares to be held in treasury. Following these transactions, the com...
Business Operations and StrategyStock Buyback
RELX Boosts Capital Return With Further Share Buybacks
Positive
Oct 5, 2026
RELX PLC has continued its share buyback programme, purchasing 746,868 ordinary shares on the London Stock Exchange between 28 September and 2 October 2026 through J.P. Morgan Securities. The shares, bought at prices around 2,500 pence, will be he...
Regulatory Filings and Compliance
RELX Updates Total Voting Rights to 1.74 Billion Shares
Neutral
Oct 1, 2026
RELX PLC reported that, as of 1 October 2026, its issued share capital comprises 1,829,084,310 ordinary shares, of which 85,481,160 are held in treasury and do not carry voting rights. This leaves a total of 1,743,603,150 voting rights available t...
Business Operations and StrategyStock Buyback
RELX Expands Treasury Stock with Further Share Buybacks
Positive
Sep 28, 2026
RELX plc has continued its capital management programme, repurchasing 751,643 ordinary shares on the London Stock Exchange between 21 and 25 September 2026 via J.P. Morgan Securities. The shares, bought at volume-weighted average prices around 2,4...
Executive/Board ChangesDelistings and Listing ChangesRegulatory Filings and Compliance
RELX Seeks LSE Admission for New Shares Under Executive Scheme
Positive
Sep 22, 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 in connection with its Executive Share Ownership Scheme 2023. The shares, once issued, will join the official list, rank ...
Business Operations and StrategyStock Buyback
RELX Boosts Treasury Stock with Continued Share Buybacks
Positive
Sep 21, 2026
RELX plc has continued its share buyback programme, purchasing 736,740 ordinary shares on the London Stock Exchange between 14 and 18 September 2026 via J.P. Morgan Securities. The shares, bought at volume-weighted average prices ranging from abou...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
RELX expands 2026 share buyback with new treasury purchases
Positive
Sep 14, 2026
RELX plc reported that it repurchased 736,750 ordinary shares on the London Stock Exchange between 7 and 11 September 2026, with J.P. Morgan Securities acting as intermediary and the shares to be held in treasury. The purchases were executed at pr...
Business Operations and StrategyStock Buyback
RELX boosts treasury stock with further share buybacks
Positive
Sep 7, 2026
RELX PLC has continued its share buyback programme, repurchasing 731,513 ordinary shares on the London Stock Exchange between 1 and 4 September 2026 through ABN AMRO Bank N.V., to be held in treasury. The transactions, executed at prices around 2,...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
RELX Launches New £125m Non-Discretionary Share Buyback Programme
Positive
Sep 7, 2026
RELX plc has launched a new irrevocable, non-discretionary share buyback programme running from 7 September to 21 October 2026, committing £125 million to repurchase ordinary shares after completing a £150 million programme days earlier....
Regulatory Filings and Compliance
RELX Updates Share Capital and Voting Rights Structure
Neutral
Sep 1, 2026
RELX plc disclosed that as of 1 September 2026 its issued share capital comprises 1,829,032,814 ordinary shares, of which 82,008,417 are held in treasury, resulting in 1,747,024,397 voting rights outstanding. This update informs investors of the c...
Business Operations and StrategyStock BuybackFinancial Disclosures
RELX Expands Treasury Stock with Ongoing Share Buybacks
Positive
Sep 1, 2026
RELX plc has repurchased 916,971 ordinary shares on the London Stock Exchange between 24 and 28 August 2026, through ABN AMRO Bank, and will hold these shares in treasury. Following these transactions, the company now holds 82,372,937 shares in tr...
Dividends
RELX Sets Euro Equivalent for 2026 Interim Dividend
Positive
Aug 27, 2026
RELX PLC has confirmed the euro equivalent of its previously announced 2026 interim dividend, setting the payout for Euroclear Nederland shareholders at €0.244 per share. Those investors may alternatively opt to receive the dividend in pound...
Business Operations and StrategyStock BuybackFinancial Disclosures
RELX Expands Share Buyback, Lifts Treasury Stock to Over 81 Million Shares
Positive
Aug 24, 2026
RELX plc has continued its capital management programme with the repurchase of 947,534 ordinary shares on the London Stock Exchange between 17 August and 21 August 2026, executed via ABN AMRO Bank N.V. and to be held in treasury. The purchases wer...
Business Operations and StrategyStock Buyback
RELX expands 2026 share buyback with new treasury purchases
Positive
Aug 17, 2026
RELX plc has continued its share buyback programme, purchasing 935,138 ordinary shares on the London Stock Exchange between 10 and 14 August 2026 through ABN AMRO Bank N.V., with the shares to be held in treasury. Following these transactions, the...
Business Operations and StrategyStock Buyback
RELX Expands Treasury Stock With Continued Share Buybacks
Positive
Aug 10, 2026
RELX plc has continued its share buyback programme, acquiring 903,327 ordinary shares on the London Stock Exchange between 3 and 7 August 2026 through ABN AMRO Bank N.V., with the shares to be held in treasury. Following these transactions, RELX n...
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...
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.