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RELX

RELX Plc

RELX

RELX Plc • NYSE
$40.21 ▲ 0.07% (+0.03)
Market Cap $73.78 B
52w High $56.33
52w Low $39.31
Dividend Yield 0.82%
P/E 29.35
Volume 1.02M
Outstanding Shares 1.83B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $4.741B ▼ $1.651B ▼ $976M ▲ 20.586% ▲ $0.52 ▲ $1.49B ▼
Q4-2024 $4.793B ▲ $1.672B ▲ $949M ▼ 19.8% ▼ $0.51 ▼ $1.556B ▲
Q2-2024 $4.641B ▼ $1.601B ▲ $985M ▲ 21.224% ▲ $0.52 ▲ $1.121B ▼
Q4-2023 $4.662B ▲ $1.524B ▲ $907M ▲ 19.455% ▲ $0.48 ▲ $1.721B ▲
Q2-2023 $4.499B $1.45B $874M 19.427% $0.46 $1.607B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $211M ▲ $14.325B ▼ $12.131B ▲ $2.18B ▼
Q4-2024 $119M ▼ $15.133B ▲ $11.629B ▲ $3.481B ▲
Q2-2024 $140M ▼ $14.714B ▼ $11.531B ▲ $3.212B ▼
Q4-2023 $155M ▲ $14.917B ▲ $11.464B ▲ $3.46B ▲
Q2-2023 $99M $11.413B $6.179B $3.272B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $0 ▼ $1.414B ▲ $-506M ▼ $-811M ▲ $92M ▲ $1.402B ▲
Q4-2024 $949M ▼ $1.349B ▲ $-337M ▼ $-1.035B ▼ $-140M ▼ $1.337B ▲
Q2-2024 $985M ▲ $1.259B ▼ $-238M ▲ $-1.03B ▼ $140M ▲ $1.251B ▲
Q4-2023 $907M ▲ $1.287B ▲ $-249M ▲ $-979M ▲ $56M ▲ $1.037B ▲
Q2-2023 $874M $1.191B $-341M $-1.078B $-235M $964M

Five-Year Company Overview

Income Statement

Income Statement RELX’s income statement shows a business that has grown steadily and become more profitable over the past five years. Sales have risen each year, and profits have grown faster than revenue, which suggests solid pricing power and good cost control. Margins in general look healthy, backed by the shift toward higher‑value digital and analytics products. One thing to note is that earnings before interest, tax, and depreciation dipped slightly in the latest year despite higher sales, which could hint at higher operating costs or investment spending. Overall, though, the income profile is that of a mature, scalable, high‑margin information business rather than a cyclical publisher.

Balance Sheet

Balance Sheet The balance sheet looks reasonably solid but clearly uses debt as part of the capital structure. Total assets have stayed fairly steady, while shareholder equity has increased over time, which indicates value is being built. Debt levels have been broadly stable and are meaningful compared with equity, so leverage is something to watch, but not an obvious red flag given RELX’s recurring, predictable revenues. Cash on hand is quite low, which reinforces the importance of ongoing strong cash generation and access to funding markets. The picture is of a leveraged but generally well‑supported balance sheet for a mature, cash‑rich company.

Cash Flow

Cash Flow Cash flow is one of RELX’s main strengths. Operating cash flow has grown consistently in line with profits, showing that reported earnings are backed by real cash. Free cash flow has been comfortably positive for several years and has trended higher, helped by relatively modest capital spending needs for a largely digital, asset‑light model. Investment in physical assets is limited compared with the cash coming in, giving management flexibility for dividends, buybacks, debt reduction, or acquisitions. The main risk is not cash generation, but how that cash is allocated over time.

Competitive Edge

Competitive Edge RELX enjoys a strong competitive position built on trusted brands, proprietary content, and tools that are deeply woven into customers’ daily work. Businesses and professionals rely on Elsevier, LexisNexis, and the risk analytics platforms for essential decisions, which makes switching to competitors both painful and risky. This creates high switching costs and durable customer relationships. Large, long‑built datasets and global scale give RELX an edge that new entrants struggle to match. On the risk side, competition from other data and AI players, regulatory scrutiny, and pressure on content pricing are ongoing challenges. Still, the company’s entrenched role in research, legal, and risk workflows provides a notable moat.

Innovation and R&D

Innovation and R&D RELX has transformed itself from a traditional publisher into a data and analytics company that is heavily focused on technology and AI. Most of its revenue now comes from digital products, and the company is actively embedding advanced analytics and machine learning into tools for lawyers, researchers, doctors, and risk professionals. Generative AI features in products like Lexis+ AI and Scopus AI are key examples of this push. The combination of long‑standing proprietary datasets with modern AI capabilities is a major strength. The main uncertainties are execution—how well these tools are adopted, priced, and integrated—and competitive dynamics as other tech and data firms also race ahead in AI.

Summary

Overall, RELX looks like a mature, high‑quality information and analytics business: steady revenue growth, rising profitability, and strong, reliable cash generation. Its balance sheet uses debt but appears supported by the resilience and recurring nature of its revenues. The company’s real edge lies in decades of proprietary data, trusted brands, and products that are deeply embedded in customer workflows, creating high switching costs and a durable moat. At the same time, RELX is leaning hard into AI and digital innovation, aiming to increase the value of its platforms rather than simply sell content. Key things to watch going forward are: how effectively it monetizes new AI‑driven tools, how it manages debt and capital allocation, and how well it defends its market position as data, analytics, and AI competition intensifies.

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