RELX plc (LSE:REL) delivered another year of steady expansion in 2025, with underlying revenue increasing 7% to £9.59 billion and adjusted operating profit climbing 9% to £3.34 billion. The group’s operating margin improved to 34.8%, while adjusted earnings per share advanced 10% at constant currency. Stronger net profit and cash generation supported a proposed 7% rise in the full-year dividend to 67.5p per share.
Performance was broad-based across divisions, with particularly robust momentum in Risk and a notable acceleration in Legal. Management attributed progress to the continued shift toward higher-growth analytics and decision-support tools, alongside deeper integration of artificial intelligence to enhance product capabilities. Cost growth remained below revenue growth, reinforcing margin expansion.
Capital allocation remained a key focus. RELX completed £1.5 billion in share buybacks during 2025 and announced plans for a further £2.25 billion in 2026. The group also deployed £270 million on five acquisitions while maintaining balance sheet discipline, with net debt at 2.0x EBITDA. Management reiterated expectations for another year of solid underlying growth in 2026.
Looking ahead, RELX benefits from high margins, strong cash conversion and a constructive earnings trajectory supported by diversified segment growth. However, technical indicators currently signal weaker share price momentum, with the stock trading below major moving averages and negative MACD readings. Valuation also appears relatively full on a price-to-earnings basis, despite the support of a moderate dividend yield.
More about RELX plc
RELX plc is a global provider of data-driven analytics and decision tools serving professional and business customers across risk, scientific, technical and medical, legal and exhibitions markets. The company focuses on advanced information products and artificial intelligence-enabled solutions designed to improve decision-making and deliver long-term, sustainable growth.
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