| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 38 | 26.3x | 17.3x | Bottom tier | |
Growth | 32 | 1.7% | 7.1% | Bottom tier | |
Quality | 97 | — | 4.5% | Top tier | |
Safety | 33 | 2.3x | 2.6x | Bottom tier | |
Capital Return | 74 | 4.19% | 0.06% | Top tier | |
Momentum | 62 | -28.4% | -1.6% | Around median | |
Sentiment | 40 | 2 | 3 | Bottom tier |
10-year US Treasury yield 4.96% as of 2026-10-22. Estimates computed from company data and analyst targets, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
RELX Plc operates across four interconnected areas built on data and specialized content: Risk solutions, scientific, technical and medical information STM, Legal analytics, and Exhibitions. The company generates revenue through databases, analytical tools, decision-making platforms, and institutional subscriptions, alongside event organization; approximately 85% of the Legal business base and approximately 80% of STM come from subscriptions. In Risk, revenue generated from system-to-system interactions exceeds 90%, reflecting the integration of the company’s products into customers’ daily operations.
In Q2 of fiscal 2026 for the period ended 2026-06-30, revenue was £4.9 billion, up 2.7% year over year from £4.7 billion in Q2 of fiscal 2025. Net income was £1.2 billion, diluted earnings per share were 0.66, and operating cash flow was £1.5 billion. The operating margin increased to 32.3% from 31.4%, while the gross margin declined to 64.1% from 66.3%.
The business mix included underlying operational growth across all four areas, led by AI-powered tools and specialized data. Business Services represents more than 40% of Risk revenue and Insurance represents approximately 40%, while database tools and electronic reference products account for approximately 40% of STM and primary research accounts for more than half. In Legal, Law Firms & Corporate Legal represents approximately 70% of segment revenue, with increasing adoption of Lexis+ with Protege.
Q2 FY2026
When: Fiscal 2026
Group underlying revenue growth at the 6% threshold
Gross margin at the 64.1% threshold
Diluted share count at the 1.79 billion share threshold
The value based on the industry multiple is $34 within a range of $27 to $59, valuing RELX like its peers using earnings for the last 12 months and a median multiple of 21.9 for a sample of 31 companies. The median analyst target is $26 within a range of $24 to $28, based on three analysts and with low confidence; this estimate is therefore indicative and reflects the expected growth priced in by analysts. The two methods agree on an overlapping range between $27 and $28, but the industry-multiple value is higher than the median target because the former links the company to peer pricing, while the latter prices analysts’ specific growth expectations. Analyst targets are inherently inclined toward optimism, while the cash flow model is inherently inclined toward conservatism; the 10-year U.S. Treasury yield of 5.18% as of 2026-09-24 was used in the models.
Figures in the text are as of 2026-09-27; the live price is shown at the top of the page.
Revenue was £4.9 billion in Q2 of fiscal 2026 for the period ended 2026-06-30, representing reported year-over-year growth of 2.7%. AI-powered analytical tools are driving growth in Risk, STM, and Legal, while these areas achieved underlying revenue growth of 8%, 6%, and 10%, respectively. Key products include Lexis+ with Protege, LeapSpace, and Scopus AI, alongside solutions for financial crime compliance, digital fraud, and identity.
Legal achieved underlying revenue growth of 10% during the first half of fiscal 2026. Approximately 90% of new sales value and approximately three-quarters of renewal value became associated with the Lexis+ with Protege suite. Management views migration to the platform as the starting point for selling additional functionality and analytics, including the integration of Lex Machina into the platform.
Automated analysis for informational purposes only — not investment advice.
Total debt was £8.9 billion, versus cash and investments of £220.0 million in Q2 of fiscal 2026 for the period ended 2026-06-30. By comparison, operating cash flow was £1.5 billion and diluted earnings per share were 0.66 during the same period. The financial safety pillar in the EL7 score is 28 out of 100 within the industry, ranking 63 out of 89, making the development of leverage and cash generation key factors in assessing financial resilience.
The diluted share count declined to 1.79 billion shares in Q2 of fiscal 2026, compared with 1.85 billion shares in Q2 of fiscal 2025, a decrease of 3.3%. The company spent £1.75 billion of a planned £2.25 billion share repurchase program during fiscal 2026. With net income of £1.2 billion, diluted earnings per share increased to 0.66 from 0.53 in the corresponding period.
The regulatory risk relates to the OMB proposal to make journal subscriptions and article processing charges unallowable under federal research grants beginning in 2027, while management did not provide a quantitative estimate of its potential impact. In Legal, native AI companies are expanding in the workflow market, and their combined annual recurring revenue exceeded $400 million according to the question raised on the 2026-07-23 call. RELX’s response relies on trusted legal content and Lexis+ with Protege, with a focus on information tools rather than seeking to lead the entire legal software market.