Recent News
On July 24, 2025 RELX published interim results for the six months to June 30 showing revenue $4,741m and adjusted operating profit $1,652m, with an interim dividend increase and management reaffirming full-year outlook. On July 24–25 the company announced and initiated a new $425m non-discretionary share buyback as part of a $1.5bn 2025 repurchase plan. An update of total voting rights in late July reported ~1.83bn total voting rights following treasury holdings.
Technical Analysis
Directional indicators show ADX 30.97, indicating a strong trend environment; DI+ experienced a dip-and-reversal while DI- recorded a peak-and-reversal. Both reversals imply recent bullish directional shifts, though DI- remains numerically above DI+ (36.86 vs. 21.03), so negative directional dominance persists despite the reversals.
MACD sits at -0.66 with the MACD line above the signal line (-0.88) and the MACD trend increasing, which constitutes a bullish momentum signal and supports near-term upside pressure on price momentum.
MRO registers -29.46, a negative value that implies price below target and therefore potential upward pressure as the oscillator seeks mean reversion.
RSI at 40.78 with a dip-and-reversal indicates recent selling then an attempted recovery; momentum remains below neutral, suggesting scope for further recovery before momentum becomes bullishly extended.
Price sits at $47.61, having crossed above the -1x standard-deviation Bollinger band and trading near the 20-day average ($46.61) but below the 50-day ($49.30) and 200-day ($49.66) averages; the 12-day EMA shows a dip-and-reversal while the 26-day EMA remains slightly higher, implying a short-term lift within a still-cooler intermediate trend.
Ichimoku components show the chikou span below the cloud and Senkou A/B at $50.85/$51.94, which keeps the longer-term cloud resistance profile intact despite the short-term momentum lift; the super trend lower sits at $46.05, providing a nearer structural support reference.
Fundamental Analysis
P/B ratio stands at 44.42, markedly above the industry peer mean of 4.18 and the industry peer high of 8.64, indicating a significant premium to book value. Forward P/E equals 126.43 while the price-target mean across analysts is $44.61, below the current price of $47.61; WMDST values the stock as over-valued.
Liquidity measures display compression: current ratio 0.47 (–9.63% QoQ) and quick ratio 0.42 (–9.81% QoQ), both materially below the industry peer mean current ratio of 1.75 and implying tighter short-term coverage of liabilities by liquid assets. Cash and short-term investments amount to $211m against total current liabilities $5,774m, producing a cash ratio of 3.65%.
Leverage appears elevated: debt-to-equity 3.46 (345.64%) and debt-to-assets 0.526 (52.6%); debt-to-equity sits well above the industry peer mean of 0.61. Net debt amounts to $7,232m while operating cash flow equals $3,519m and operating cash flow ratio 60.95%, which supports debt servicing but leaves limited headroom relative to balance-sheet leverage and negative net tangible assets of -$8,645m.
Revenue dynamics show recent expansion in period-on-period terms with revenue growth 3.62% while reported year-over-year revenue change registers -2.95% (YoY); the company completed several small acquisitions in H1 and reported cash conversion consistent with reported operating cash flow performance.
Brief valuation context: elevated P/B and a forward P/E of 126.4 alongside negative net tangible assets and high leverage create a valuation profile that the WMDST framework classifies as over-valued; positive cash flow and active buybacks provide offsetting capital-return dynamics but do not remove the premium pricing relative to peers.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-07-25 |
| NEXT REPORT DATE: | 2025-10-24 |
| CASH FLOW | Begin Period Cash Flow | — |
| Operating Cash Flow | $ 3.5 B | |
| Capital Expenditures | — | |
| Change In Working Capital | — | |
| Dividends Paid | — | |
| Cash Flow Delta | — | |
| End Period Cash Flow | — | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | — | |
| Forward Revenue | — | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | — | |
| Depreciation and Amortization | — | |
| Research and Development | — | |
| Total Operating Expenses | — | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | — | |
| EBIT | — | |
| Operating Income | — | |
| Interest Income | — | |
| Interest Expense | — | |
| Net Interest Income | — | |
| Income Before Tax | — | |
| Tax Provision | — | |
| Tax Rate | — | |
| Net Income | — | |
| Net Income From Continuing Operations | — | |
| EARNINGS | ||
| EPS Estimate | — | |
| EPS Actual | — | |
| EPS Difference | — | |
| EPS Surprise | — | |
| Forward EPS | $ 0.41 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 14.3 B | |
| Intangible Assets | $ 10.8 B | |
| Net Tangible Assets | $ -8.64 B | |
| Total Current Assets | $ 2.7 B | |
| Cash and Short-Term Investments | $ 211.0 M | |
| Cash | $ 211.0 M | |
| Net Receivables | $ 2.2 B | |
| Inventory | $ 307.0 M | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | $ 3.7 B | |
| Short-Term Debt | $ 1.9 B | |
| Total Current Liabilities | $ 5.8 B | |
| Net Debt | $ 7.2 B | |
| Total Debt | $ 7.5 B | |
| Total Liabilities | $ 12.1 B | |
| EQUITY | ||
| Total Equity | $ 2.2 B | |
| Retained Earnings | — | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 1.19 | |
| Shares Outstanding | 1.831 B | |
| Revenue Per-Share | — | |
| VALUATION | Market Capitalization | $ 96.8 B |
| Enterprise Value | $ 104.2 B | |
| Enterprise Multiple | — | |
| Enterprise Multiple QoQ | — | |
| Enterprise Multiple YoY | — | |
| Enterprise Multiple IPRWA | — | |
| EV/R | — | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 6.571 | |
| Asset To Liability | 1.181 | |
| Debt To Capital | 0.776 | |
| Debt To Assets | 0.526 | |
| Debt To Assets QoQ | 479.359 % | |
| Debt To Assets YoY | — | |
| Debt To Assets IPRWA | high: 0.715 median: 0.715 mean: 0.568 RELX: 0.526 low: 0.012 |
|
| Debt To Equity | 3.456 | |
| Debt To Equity QoQ | 775.686 % | |
| Debt To Equity YoY | — | |
| Debt To Equity IPRWA | RELX: 3.456 high: 1.505 median: 0.644 mean: 0.612 low: -0.467 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 44.42 | |
| Price To Book QoQ | 73.059 % | |
| Price To Book YoY | — | |
| Price To Book IPRWA | RELX: 44.42 high: 8.641 mean: 4.182 median: 3.047 low: -0.871 |
|
| Price To Earnings (P/E) | — | |
| Price To Earnings QoQ | — | |
| Price To Earnings YoY | — | |
| Price To Earnings IPRWA | — | |
| PE/G Ratio | — | |
| Price To Sales (P/S) | — | |
| Price To Sales QoQ | — | |
| Price To Sales YoY | — | |
| Price To Sales IPRWA | — | |
| FORWARD MULTIPLES | ||
| Forward P/E | 126.429 | |
| Forward PE/G | — | |
| Forward P/S | — | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | — | |
| ASSET & SALES | ||
| Asset Turnover Ratio | — | |
| Asset Turnover Ratio QoQ | — | |
| Asset Turnover Ratio YoY | — | |
| Asset Turnover Ratio IPRWA | — | |
| Receivables Turnover | — | |
| Receivables Turnover Ratio QoQ | — | |
| Receivables Turnover Ratio YoY | — | |
| Receivables Turnover Ratio IPRWA | — | |
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | — | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | — | |
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | — | |
| CapEx To Revenue | — | |
| CapEx To Depreciation | — | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 7.7 B | |
| Net Invested Capital | $ 9.6 B | |
| Invested Capital | $ 9.6 B | |
| Net Tangible Assets | $ -8.64 B | |
| Net Working Capital | $ -3.04 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.037 | |
| Current Ratio | 0.473 | |
| Current Ratio QoQ | -9.631 % | |
| Current Ratio YoY | — | |
| Current Ratio IPRWA | high: 3.987 mean: 1.748 median: 1.531 RELX: 0.473 low: 0.13 |
|
| Quick Ratio | 0.42 | |
| Quick Ratio QoQ | -9.814 % | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | — | |
| Cost Of Debt | 2.023 % | |
| Interest Coverage Ratio | — | |
| Interest Coverage Ratio QoQ | — | |
| Interest Coverage Ratio YoY | — | |
| Interest Coverage Ratio IPRWA | — | |
| Operating Cash Flow Ratio | 0.609 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -5.339 % | |
| Revenue Growth | 3.623 % | |
| Revenue Growth QoQ | 0.0 % | |
| Revenue Growth YoY | -295.415 % | |
| Revenue Growth IPRWA | high: 8.11 % RELX: 3.623 % median: 2.603 % mean: 2.358 % low: -6.106 % |
|
| Earnings Growth | — | |
| Earnings Growth QoQ | — | |
| Earnings Growth YoY | — | |
| Earnings Growth IPRWA | — | |
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | — | |
| EBIT Margin QoQ | — | |
| EBIT Margin YoY | — | |
| EBIT Margin IPRWA | — | |
| Return On Sales (ROS) | — | |
| Return On Sales QoQ | — | |
| Return On Sales YoY | — | |
| Return On Sales IPRWA | — | |
| CASH FLOW | ||
| Free Cash Flow (FCF) | — | |
| Free Cash Flow Yield | — | |
| Free Cash Flow Yield QoQ | — | |
| Free Cash Flow Yield YoY | — | |
| Free Cash Flow Yield IPRWA | — | |
| Free Cash Growth | — | |
| Free Cash Growth QoQ | — | |
| Free Cash Growth YoY | — | |
| Free Cash Growth IPRWA | — | |
| Free Cash To Net Income | — | |
| Cash Flow Margin | — | |
| Cash Flow To Earnings | — | |
| VALUE & RETURNS | ||
| Economic Value Added | — | |
| Return On Assets (ROA) | — | |
| Return On Assets QoQ | — | |
| Return On Assets YoY | — | |
| Return On Assets IPRWA | — | |
| Return On Capital Employed (ROCE) | — | |
| Return On Equity (ROE) | — | |
| Return On Equity QoQ | — | |
| Return On Equity YoY | — | |
| Return On Equity IPRWA | — | |
| DuPont ROE | — | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |