RELX

REL.L

Specialty Business Services · Industrials

Exchange

London Stock Exchange

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Exceptional

Growth

Strong

Cash Flow

Exceptional

Stability

Good

Valuation

Good

Dividends

Strong

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Winston Score History

The full picture

RELX is a British company that sells information, data, and analytics tools to professionals in four main areas: science and medicine, legal services, risk management, and trade events. Its customers include researchers, lawyers, insurance companies, banks, and governments. It owns well-known brands like LexisNexis, Elsevier, and Reed Exhibitions.

Most of RELX's revenue comes from subscriptions and licenses, meaning customers pay regularly to access databases, journals, and software tools rather than buying one-time products. The company operates globally, with strong revenue from North America and Europe, and generates over $9 billion in annual revenue. Its main competitive advantage is the depth and scale of its proprietary data, which is expensive and time-consuming for rivals to replicate. The key growth driver is expanding its analytics and AI-powered tools, which command higher prices than basic data access, though regulatory scrutiny around data privacy remains an ongoing risk.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+2.7% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+24.5% YoY

YoY Growth Rate

Steady EPS growth

Insider Activity

0.7%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Position

Cash flow positive

£633M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

RELX is growing revenue at 3% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

64.1%

Premium pricing power — 64.1% gross margin

Profit after running costs

Operating Margin

32.3%

Excellent — 32.3% operating margin

Return on the money invested

ROCE

30.5%

Exceptional — 30.5% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth

Sales YoY

+2.0%

Nearly flat sales (+2.0% YoY)

Profit growth

EPS YoY

+21.2%

Earnings growing fast (+21.2% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

129%

Turns 129% of profit into real cash

Spare cash per sale

FCF Margin

29.9%

Converts sales into free cash efficiently (29.9%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

7.12

Heavy debt load (7.12)

Covers its interest

Interest Cover

16.31x

Comfortably covers interest (16.3x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

20.7x

no trend

Growth-priced — P/E 20.7

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

+4.3

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (20.7 → 16.4)

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Dividends

Dividend

Dividend Yield

2.63%

no trend

Moderate income — 2.63% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+15.1%

no trend

Dividend growing fast (15.1% YoY)

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