RELX
RELX · NYSEServices-Business Services, NEC · Fiscal year ends Dec 31 · Reports in GBP
Net income was GBP 2.1B. Operating cash flow of GBP 2.8B less capital expenditure of GBP 21M left free cash flow of GBP 2.8B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | GBP 7.2B | – | – | – | – |
| Cost of revenue | GBP 2.6B | GBP 3B | GBP 3.2B | GBP 3.3B | GBP 3.2B |
| Gross profit | GBP 4.7B | GBP 5.5B | GBP 5.9B | GBP 6.1B | GBP 6.4B |
| Operating income | GBP 1.9B | GBP 2.3B | GBP 2.7B | GBP 2.9B | GBP 3B |
| Interest expense | GBP 150M | GBP 205M | GBP 323M | GBP 304M | GBP 298M |
| Pre-tax income | GBP 1.8B | GBP 2.1B | GBP 2.3B | GBP 2.6B | GBP 2.8B |
| Income tax | GBP 326M | GBP 481M | GBP 507M | GBP 613M | GBP 672M |
| Net income | GBP 1.5B | GBP 1.6B | GBP 1.8B | GBP 1.9B | GBP 2.1B |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | GBP 113M | GBP 334M | GBP 155M | GBP 119M | GBP 131M |
| Receivables | GBP 2B | GBP 2.4B | GBP 2.3B | GBP 2.5B | GBP 2.5B |
| Current assets | GBP 2.4B | GBP 3.1B | GBP 2.9B | GBP 3B | GBP 3B |
| Net PP&E | GBP 131M | GBP 126M | GBP 99M | GBP 82M | GBP 72M |
| Goodwill | GBP 7.4B | GBP 8.4B | GBP 8B | GBP 8.2B | GBP 7.9B |
| Total assets | GBP 13.9B | GBP 15.8B | GBP 14.9B | GBP 15.1B | GBP 14.8B |
| Payables | GBP 3.3B | GBP 4B | GBP 4B | GBP 4.1B | GBP 4.3B |
| Current liabilities | GBP 3.7B | GBP 5.2B | GBP 5.5B | GBP 5.7B | GBP 6B |
| Total liabilities | GBP 10.6B | GBP 12.1B | GBP 11.5B | GBP 11.6B | GBP 12.4B |
| Shareholders' equity | GBP 3.2B | GBP 3.8B | GBP 3.5B | GBP 3.5B | GBP 2.4B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | GBP 2B | GBP 2.4B | GBP 2.5B | GBP 2.6B | GBP 2.8B |
| Capital expenditure | GBP 28M | GBP 36M | GBP 30M | GBP 20M | GBP 21M |
| Free cash flow | GBP 2B | GBP 2.4B | GBP 2.4B | GBP 2.6B | GBP 2.8B |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating income growth (YoY) | – | 23.3% | 15.5% | 6.7% | 5.8% |
| Gross margin | 64.6% | – | – | – | – |
| Operating margin | 26.0% | – | – | – | – |
| Net margin | 20.3% | – | – | – | – |
| Return on equityBlank when equity is negative | 45.5% | 43.2% | 51.7% | 55.8% | 87.8% |
| ROCEEBIT ÷ (assets − current liabilities) | 18.6% | 21.8% | 28.5% | 30.4% | 34.6% |
| Free cash flow margin | 27.4% | – | – | – | – |
| Cash conversion (CFO ÷ net income) | 1.37x | 1.47x | 1.37x | 1.34x | 1.36x |
| Receivable days | 99 | – | – | – | – |
| Payable days | 467 | 482 | 451 | 456 | 482 |
| Interest cover | 12.6x | 11.3x | 8.30x | 9.41x | 10.2x |
| Current ratio | 0.63x | 0.59x | 0.52x | 0.52x | 0.49x |
Recent filings
More in Services-Business Services, Nec
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.