NYSE : RELX
RELX PLC — Financial statements
Industrials · Specialty Business Services · United Kingdom
Last price 40.09 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 69.73B
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Financial statements
RELX PLC (RELX) reported revenue of 9.72B GBP (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in GBP.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 9.72B | 9.59B | 9.43B | 9.16B | 8.55B | 7.24B |
| Cost of Revenue | 3.26B | 3.23B | 3.30B | 3.22B | 3.04B | 2.56B |
| Gross Profit | 6.46B | 6.36B | 6.13B | 5.95B | 5.51B | 4.68B |
| Selling, General & Admin | 3.37B | 3.37B | 3.32B | 3.31B | 3.21B | 2.84B |
| Operating Expenses | 3.37B | 3.37B | 3.32B | 3.31B | 3.21B | 2.84B |
| Operating Income | 3.08B | 2.99B | 2.82B | 2.63B | 2.30B | 1.85B |
| Interest Expense | -163.00M | -273.00M | -281.00M | -300.00M | -182.00M | -125.00M |
| Interest & Investment Income | 7.00M | 12.00M | 6.00M | 8.00M | 4.00M | 1.00M |
| Earnings From Equity Investments | 43.00M | 44.00M | 43.00M | 46.00M | 19.00M | 29.00M |
| Other Non Operating Income (Expenses) | -28.00M | -28.00M | -22.00M | -22.00M | -18.00M | -9.00M |
| EBT Excluding Unusual Items | 2.94B | 2.74B | 2.56B | 2.37B | 2.12B | 1.74B |
| Impairment of Goodwill | -36.00M | -42.00M | ||||
| Gain (Loss) on Sale of Investments | 12.00M | 12.00M | -2.00M | -11.00M | 9.00M | 16.00M |
| Gain (Loss) on Sale of Assets | 37.00M | -3.00M | 32.00M | -19.00M | -18.00M | 39.00M |
| Pretax Income | 2.99B | 2.75B | 2.56B | 2.29B | 2.11B | 1.80B |
| Income Tax Expense | 716.00M | 672.00M | 613.00M | 507.00M | 481.00M | 326.00M |
| Earnings From Continuing Operations | 2.27B | 2.08B | 1.94B | 1.79B | 1.63B | 1.47B |
| Minority Interest in Earnings | -12.00M | -13.00M | -10.00M | -7.00M | 2.00M | |
| Net Income | 2.26B | 2.06B | 1.93B | 1.78B | 1.63B | 1.47B |
| Net Income to Common | 2.26B | 2.06B | 1.93B | 1.78B | 1.63B | 1.47B |
| Shares Outstanding (Basic) | 1.81B | 1.83B | 1.87B | 1.89B | 1.92B | 1.93B |
| Shares Outstanding (Diluted) | 1.81B | 1.84B | 1.88B | 1.90B | 1.93B | 1.94B |
| EPS (Basic) | 1.25 | 1.13 | 1.04 | 0.94 | 0.85 | 0.76 |
| EPS (Diluted) | 1.25 | 1.12 | 1.03 | 0.94 | 0.85 | 0.76 |
| Free Cash Flow | 2.86B | 2.81B | 2.59B | 2.43B | 2.37B | 1.99B |
| Free Cash Flow Per Share | 1.58 | 1.53 | 1.38 | 1.27 | 1.23 | 1.02 |
| Dividend Per Share | 0.69 | 0.68 | 0.63 | 0.59 | 0.55 | 0.50 |
| Gross Margin | 66.42% | 66.29% | 65.02% | 64.89% | 64.40% | 64.63% |
| Operating Margin | 31.71% | 31.14% | 29.86% | 28.76% | 26.88% | 25.48% |
| Profit Margin | 23.27% | 21.53% | 20.50% | 19.44% | 19.10% | 20.31% |
| Free Cash Flow Margin | 29.42% | 29.35% | 27.43% | 26.49% | 27.65% | 27.44% |
| EBITDA | 3.29B | 3.20B | 3.05B | 2.96B | 2.64B | 2.19B |
| EBITDA Margin | 33.87% | 33.40% | 32.30% | 32.28% | 30.87% | 30.30% |
| D&A For EBITDA | 210.00M | 217.00M | 230.00M | 322.00M | 341.00M | 349.00M |
| EBIT | 3.08B | 2.99B | 2.82B | 2.63B | 2.30B | 1.85B |
| EBIT Margin | 31.71% | 31.14% | 29.86% | 28.76% | 26.88% | 25.48% |
| Effective Tax Rate | 23.95% | 24.44% | 23.97% | 22.09% | 22.76% | 18.14% |
Balance sheet
Fiscal year January - December; amounts in GBP.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 220.00M | 131.00M | 119.00M | 155.00M | 334.00M | 113.00M |
| Cash & Short-Term Investments | 220.00M | 131.00M | 119.00M | 155.00M | 334.00M | 113.00M |
| Accounts Receivable | 2.34B | 2.16B | 2.19B | 2.03B | 2.08B | 1.63B |
| Other Receivables | 13.00M | 42.00M | 6.00M | 15.00M | 10.00M | |
| Receivables | 2.34B | 2.17B | 2.23B | 2.04B | 2.10B | 1.64B |
| Inventory | 326.00M | 311.00M | 331.00M | 318.00M | 309.00M | 253.00M |
| Prepaid Expenses | 293.00M | 283.00M | 288.00M | 310.00M | 316.00M | |
| Other Current Assets | 28.00M | 50.00M | 35.00M | 78.00M | 21.00M | 31.00M |
| Total Current Assets | 2.92B | 2.96B | 3.00B | 2.87B | 3.07B | 2.36B |
| Property, Plant & Equipment | 180.00M | 159.00M | 171.00M | 212.00M | 271.00M | 292.00M |
| Long-Term Investments | 343.00M | 295.00M | 261.00M | 275.00M | 286.00M | 212.00M |
| Goodwill | 8.10B | 7.93B | 8.22B | 8.02B | 8.39B | 7.37B |
| Other Intangible Assets | 3.11B | 3.07B | 3.16B | 3.24B | 3.52B | 3.30B |
| Long-Term Deferred Tax Assets | 75.00M | 75.00M | 84.00M | 128.00M | 146.00M | 210.00M |
| Other Long-Term Assets | 306.00M | 266.00M | 241.00M | 167.00M | 145.00M | 117.00M |
| Total Assets | 15.03B | 14.76B | 15.13B | 14.92B | 15.83B | 13.86B |
| Accounts Payable | 4.01B | 89.00M | 223.00M | 171.00M | 129.00M | 109.00M |
| Accrued Expenses | 1.17B | 1.03B | 1.02B | 1.00B | 859.00M | |
| Short-Term Debt | 887.00M | 762.00M | 220.00M | 102.00M | 131.00M | |
| Current Portion of Long-Term Debt | 2.31B | 654.00M | 612.00M | 1.04B | 701.00M | 32.00M |
| Current Portion of Leases | 32.00M | 30.00M | 38.00M | 57.00M | 67.00M | 69.00M |
| Current Income Taxes Payable | 131.00M | 153.00M | 119.00M | 163.00M | 249.00M | 192.00M |
| Current Unearned Revenue | 2.39B | 2.33B | 2.30B | 2.37B | 1.96B | |
| Other Current Liabilities | 17.00M | 625.00M | 604.00M | 530.00M | 568.00M | 400.00M |
| Total Current Liabilities | 6.50B | 6.00B | 5.72B | 5.49B | 5.19B | 3.75B |
| Long-Term Debt | 6.48B | 5.63B | 5.07B | 5.10B | 5.75B | 5.80B |
| Long-Term Leases | 87.00M | 67.00M | 65.00M | 84.00M | 115.00M | 139.00M |
| Pension & Post-Retirement Benefits | 149.00M | 154.00M | 165.00M | 182.00M | 184.00M | 315.00M |
| Long-Term Deferred Tax Liabilities | 456.00M | 405.00M | 473.00M | 473.00M | 590.00M | 591.00M |
| Other Long-Term Liabilities | 112.00M | 111.00M | 141.00M | 149.00M | 254.00M | 45.00M |
| Total Liabilities | 13.78B | 12.37B | 11.63B | 11.48B | 12.07B | 10.63B |
| Common Stock | 264.00M | 264.00M | 272.00M | 275.00M | 279.00M | 286.00M |
| Additional Paid-In Capital | 1.65B | 1.65B | 1.60B | 1.56B | 1.52B | 1.49B |
| Treasury Stock | -2.00B | -406.00M | -722.00M | -553.00M | -414.00M | -876.00M |
| Comprehensive Income & Other | 1.32B | 861.00M | 2.33B | 2.18B | 2.39B | 2.33B |
| Total Common Equity | 1.24B | 2.37B | 3.48B | 3.46B | 3.78B | 3.23B |
| Minority Interest | 17.00M | 24.00M | 23.00M | -21.00M | -22.00M | -8.00M |
| Shareholders' Equity | 1.25B | 2.39B | 3.50B | 3.44B | 3.75B | 3.22B |
| Total Liabilities & Equity | 15.03B | 14.76B | 15.13B | 14.92B | 15.83B | 13.86B |
| Total Debt | 8.91B | 7.27B | 6.54B | 6.50B | 6.73B | 6.17B |
| Net Cash (Debt) | -8.69B | -7.14B | -6.42B | -6.34B | -6.40B | -6.05B |
| Net Cash Per Share | -4.79 | -3.87 | -3.42 | -3.33 | -3.32 | -3.12 |
| Filing Date Shares Outstanding | 1.75B | 1.82B | 1.86B | 1.88B | 1.91B | 1.93B |
| Total Common Shares Outstanding | 1.75B | 1.82B | 1.86B | 1.88B | 1.91B | 1.93B |
| Working Capital | -3.58B | -3.04B | -2.72B | -2.62B | -2.12B | -1.39B |
| Book Value Per Share | 0.71 | 1.30 | 1.88 | 1.84 | 1.98 | 1.68 |
| Tangible Book Value | -9.97B | -8.64B | -7.90B | -7.80B | -8.14B | -7.44B |
| Tangible Book Value Per Share | -5.70 | -4.75 | -4.26 | -4.15 | -4.26 | -3.86 |
| Land | 7.00M | 7.00M | 8.00M | 10.00M | 10.00M | |
| Buildings | 90.00M | 103.00M | 126.00M | 156.00M | 157.00M | |
| Machinery | 245.00M | 288.00M | 373.00M | 452.00M | 516.00M |
Cash flow statement
Fiscal year January - December; amounts in GBP.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 2.26B | 2.06B | 1.93B | 1.78B | 1.63B | 1.47B |
| Depreciation & Amortization | 246.00M | 254.00M | 280.00M | 387.00M | 404.00M | 429.00M |
| Other Amortization | 510.00M | 498.00M | 503.00M | 406.00M | 381.00M | 355.00M |
| Loss (Gain) on Equity Investments | -43.00M | -44.00M | -43.00M | -46.00M | -19.00M | -29.00M |
| Stock-Based Compensation | 64.00M | 63.00M | 66.00M | 56.00M | 46.00M | 45.00M |
| Other Operating Activities | -103.00M | 63.00M | 14.00M | -12.00M | 29.00M | -47.00M |
| Change in Accounts Receivable | 14.00M | 14.00M | -173.00M | -24.00M | -251.00M | -103.00M |
| Change in Inventory | -101.00M | -101.00M | -83.00M | -90.00M | -103.00M | -73.00M |
| Change in Accounts Payable | 24.00M | 24.00M | 110.00M | -1.00M | 280.00M | -32.00M |
| Operating Cash Flow | 2.88B | 2.84B | 2.61B | 2.46B | 2.40B | 2.02B |
| Capital Expenditures | -21.00M | -21.00M | -20.00M | -30.00M | -36.00M | -28.00M |
| Sale of Property, Plant & Equipment | 7.00M | 5.00M | ||||
| Cash Acquisitions | -138.00M | -260.00M | -170.00M | -124.00M | -394.00M | -254.00M |
| Divestitures | 67.00M | 17.00M | 46.00M | 12.00M | 4.00M | 190.00M |
| Sale (Purchase) of Intangibles | -541.00M | -504.00M | -464.00M | -447.00M | -400.00M | -309.00M |
| Investment in Securities | -45.00M | -42.00M | -4.00M | -8.00M | -66.00M | -8.00M |
| Other Investing Activities | 44.00M | 40.00M | 37.00M | 21.00M | 33.00M | 20.00M |
| Investing Cash Flow | -634.00M | -770.00M | -575.00M | -569.00M | -859.00M | -384.00M |
| Short-Term Debt Issued | 232.00M | 461.00M | 84.00M | |||
| Long-Term Debt Issued | 1.12B | 711.00M | 651.00M | 397.00M | ||
| Total Debt Issued | 1.94B | 1.36B | 1.17B | 735.00M | 397.00M | |
| Short-Term Debt Repaid | -101.00M | -200.00M | ||||
| Long-Term Debt Repaid | -661.00M | -1.08B | -919.00M | -114.00M | -524.00M | |
| Lease Payments | -35.00M | -40.00M | -63.00M | -72.00M | -79.00M | -93.00M |
| Total Debt Repaid | -678.00M | -661.00M | -1.08B | -919.00M | -215.00M | -724.00M |
| Net Debt Issued (Repaid) | 1.26B | 696.00M | 92.00M | -184.00M | 182.00M | -724.00M |
| Issuance of Common Stock | 32.00M | 42.00M | 47.00M | 41.00M | 26.00M | 32.00M |
| Repurchase of Common Stock | -2.31B | -1.58B | -1.07B | -850.00M | -550.00M | -1.00M |
| Common Dividends Paid | -1.21B | -1.18B | -1.12B | -1.06B | -983.00M | -920.00M |
| Other Financing Activities | -11.00M | -32.00M | -8.00M | -5.00M | -9.00M | 7.00M |
| Financing Cash Flow | -2.24B | -2.05B | -2.06B | -2.06B | -1.33B | -1.61B |
| Foreign Exchange Rate Adjustments | 3.00M | -3.00M | -4.00M | -10.00M | 13.00M | -1.00M |
| Net Cash Flow | 9.00M | 12.00M | -36.00M | -179.00M | 221.00M | 25.00M |
| Free Cash Flow | 2.86B | 2.81B | 2.59B | 2.43B | 2.37B | 1.99B |
| Free Cash Flow Margin | 29.42% | 29.35% | 27.43% | 26.49% | 27.65% | 27.44% |
| Free Cash Flow Per Share | 1.58 | 1.53 | 1.38 | 1.27 | 1.23 | 1.02 |
| Levered Free Cash Flow | 2.23B | 2.16B | 1.92B | 1.71B | 2.03B | 1.50B |
| Unlevered Free Cash Flow | 2.33B | 2.33B | 2.10B | 1.89B | 2.14B | 1.58B |
| Free Cash Flow After Leases | 2.83B | 2.77B | 2.52B | 2.35B | 2.29B | 1.90B |
| Cash Interest Paid | 292.00M | 274.00M | 257.00M | 303.00M | 169.00M | 119.00M |
| Cash Income Tax Paid | 680.00M | 638.00M | 662.00M | 619.00M | 495.00M | 342.00M |
| Change in Working Capital | -55.00M | -63.00M | -146.00M | -115.00M | -74.00M | -208.00M |
Ratios
Fiscal year January - December; amounts in GBP.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 69.73B | 73.94B | 84.32B | 74.53B | 52.64B | 62.73B |
| Enterprise Value | 81.39B | 83.81B | 92.82B | 83.04B | 60.82B | 71.40B |
| Last Close Price | 40.09 | 39.36 | 43.50 | 37.30 | 25.52 | 29.40 |
| PE Ratio | 24.00 | 26.60 | 34.83 | 32.85 | 26.74 | 31.49 |
| PS Ratio | 5.41 | 5.73 | 7.14 | 6.39 | 5.11 | 6.39 |
| PB Ratio | 41.88 | 22.99 | 19.22 | 17.02 | 11.64 | 14.37 |
| P/FCF Ratio | 18.14 | 19.52 | 26.02 | 24.11 | 18.47 | 23.30 |
| P/OCF Ratio | 18.01 | 19.37 | 25.82 | 23.82 | 18.20 | 22.98 |
| EV/Sales Ratio | 6.31 | 6.49 | 7.86 | 7.12 | 5.90 | 7.28 |
| EV/EBITDA Ratio | 18.63 | 19.44 | 24.33 | 22.05 | 19.12 | 24.02 |
| EV/EBIT Ratio | 19.90 | 20.86 | 26.32 | 24.74 | 21.95 | 28.57 |
| EV/FCF Ratio | 21.17 | 22.12 | 28.65 | 26.86 | 21.34 | 26.52 |
| Debt / Equity Ratio | 7.10 | 3.04 | 1.87 | 1.89 | 1.79 | 1.91 |
| Debt / EBITDA Ratio | 2.68 | 2.24 | 2.11 | 2.15 | 2.49 | 2.71 |
| Debt / FCF Ratio | 3.11 | 2.58 | 2.53 | 2.68 | 2.85 | 3.10 |
| Net Debt / Equity Ratio | 6.92 | 2.99 | 1.83 | 1.84 | 1.70 | 1.88 |
| Net Debt / EBITDA Ratio | 2.64 | 2.23 | 2.11 | 2.15 | 2.42 | 2.76 |
| Net Debt / FCF Ratio | 3.04 | 2.54 | 2.48 | 2.61 | 2.70 | 3.04 |
| Asset Turnover | 0.66 | 0.64 | 0.63 | 0.60 | 0.58 | 0.52 |
| Inventory Turnover | 10.31 | 10.07 | 10.17 | 10.26 | 10.84 | 10.39 |
| Quick Ratio | 0.39 | 0.38 | 0.41 | 0.40 | 0.47 | 0.47 |
| Current Ratio | 0.45 | 0.49 | 0.52 | 0.52 | 0.59 | 0.63 |
| Return on Equity (ROE) | 131.86% | 70.51% | 56.00% | 49.71% | 46.78% | 55.25% |
| Return on Assets (ROA) | 13.12% | 12.49% | 11.72% | 10.71% | 9.68% | 8.24% |
| Return on Invested Capital (ROIC) | 23.58% | 23.20% | 21.73% | 20.60% | 18.28% | 16.41% |
| Return on Capital Employed (ROCE) | 36.10% | 34.10% | 29.90% | 28.00% | 21.60% | 18.30% |
| Earnings Yield | 4.17% | 3.76% | 2.87% | 3.04% | 3.74% | 3.17% |
| FCF Yield | 5.51% | 5.12% | 3.84% | 4.15% | 5.41% | 4.29% |
| Dividend Yield | 2.29% | 2.23% | 1.74% | 1.89% | 2.39% | 2.07% |
| Payout Ratio | 54.84% | 57.19% | 57.96% | 59.46% | 60.16% | 62.54% |
| Buyback Yield / Dilution | 2.63% | 1.77% | 1.37% | 1.37% | 0.52% | -0.08% |
| Total Shareholder Return | 4.92% | 4.00% | 3.11% | 3.26% | 2.91% | 1.99% |