RELX PLC |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3,329 GBX | +1.46% |
|
+0.82% | +7.04% |
| Apr. 25 | Relx non-exec director Alistair Cox buys GBP52,616 of shares | AN |
| Apr. 25 | RELX : JP Morgan remains its Buy rating | ZD |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 36,801 | 34,512 | 46,327 | 43,690 | 58,515 | 62,269 | - | - |
| Enterprise Value (EV) 1 | 43,077 | 41,410 | 52,381 | 50,294 | 58,515 | 68,673 | 68,590 | 68,721 |
| P/E ratio | 24.8 x | 28.2 x | 31.5 x | 27 x | 33.2 x | 30.9 x | 28 x | 25.5 x |
| Yield | 2.4% | 2.62% | 2.07% | 2.39% | - | 1.89% | 2.04% | 2.2% |
| Capitalization / Revenue | 4.67 x | 4.85 x | 6.4 x | 5.11 x | 6.39 x | 6.39 x | 6.03 x | 5.65 x |
| EV / Revenue | 5.47 x | 5.82 x | 7.23 x | 5.88 x | 6.39 x | 7.04 x | 6.64 x | 6.23 x |
| EV / EBITDA | 15 x | 16.3 x | 19.9 x | 16.2 x | 16.9 x | 18.5 x | 17.3 x | 15.8 x |
| EV / FCF | 25.2 x | 33.6 x | 27.5 x | 25.6 x | - | 29.4 x | 27.2 x | 25.1 x |
| FCF Yield | 3.97% | 2.98% | 3.64% | 3.91% | - | 3.41% | 3.68% | 3.99% |
| Price to Book | 17.2 x | 16.5 x | 14.3 x | 11.6 x | - | 17.6 x | 16 x | 13.6 x |
| Nbr of stocks (in thousands) | 1,931,309 | 1,925,354 | 1,928,681 | 1,909,549 | 1,881,510 | 1,870,504 | - | - |
| Reference price 2 | 19.06 | 17.92 | 24.02 | 22.88 | 31.10 | 33.29 | 33.29 | 33.29 |
| Announcement Date | 2/13/20 | 2/11/21 | 2/10/22 | 2/16/23 | 2/15/24 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 7,874 | 7,110 | 7,244 | 8,553 | 9,161 | 9,748 | 10,323 | 11,026 |
| EBITDA 1 | 2,880 | 2,543 | 2,637 | 3,102 | 3,468 | 3,715 | 3,966 | 4,340 |
| EBIT 1 | 2,491 | 2,076 | 2,210 | 2,683 | 3,030 | 3,247 | 3,469 | 3,741 |
| Operating Margin | 31.64% | 29.2% | 30.51% | 31.37% | 33.07% | 33.31% | 33.6% | 33.93% |
| Earnings before Tax (EBT) 1 | 1,847 | 1,483 | 1,797 | 2,113 | 2,295 | 2,656 | 2,908 | 3,235 |
| Net income 1 | 1,505 | 1,224 | 1,471 | 1,634 | 1,781 | 2,040 | 2,233 | 2,453 |
| Net margin | 19.11% | 17.22% | 20.31% | 19.1% | 19.44% | 20.93% | 21.63% | 22.25% |
| EPS 2 | 0.7690 | 0.6350 | 0.7630 | 0.8470 | 0.9360 | 1.076 | 1.188 | 1.308 |
| Free Cash Flow 1 | 1,709 | 1,234 | 1,908 | 1,965 | - | 2,339 | 2,522 | 2,739 |
| FCF margin | 21.7% | 17.36% | 26.34% | 22.97% | - | 23.99% | 24.44% | 24.84% |
| FCF Conversion (EBITDA) | 59.34% | 48.53% | 72.35% | 63.35% | - | 62.96% | 63.61% | 63.12% |
| FCF Conversion (Net income) | 113.55% | 100.82% | 129.71% | 120.26% | - | 114.63% | 112.97% | 111.66% |
| Dividend per Share 2 | 0.4570 | 0.4700 | 0.4980 | 0.5460 | - | 0.6298 | 0.6788 | 0.7326 |
| Announcement Date | 2/13/20 | 2/11/21 | 2/10/22 | 2/16/23 | 2/15/24 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2020 S2 | 2021 S1 | 2022 S1 | 2022 Q3 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 | 2024 S2 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,501 | 3,609 | 3,394 | 3,969 | 2,292 | 4,584 | 4,499 | 4,662 | 4,762 | 4,967 |
| EBITDA | - | - | - | - | - | - | - | - | - | - |
| EBIT | 939 | - | 1,023 | 1,239 | - | - | 1,486 | 1,544 | - | - |
| Operating Margin | 26.82% | - | 30.14% | 31.22% | - | - | 33.03% | 33.12% | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - |
| Net income | - | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - |
| EPS | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | 0.1360 | - | - | 0.1570 | - | - | - | - | - | - |
| Announcement Date | 7/23/20 | 2/11/21 | 7/29/21 | 7/28/22 | 2/23/23 | 2/16/23 | 7/27/23 | 2/15/24 | - | - |
1GBP in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 6,276 | 6,898 | 6,054 | 6,604 | - | 6,404 | 6,321 | 6,452 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.179 x | 2.713 x | 2.296 x | 2.129 x | - | 1.724 x | 1.594 x | 1.487 x |
| Free Cash Flow 1 | 1,709 | 1,234 | 1,908 | 1,965 | - | 2,339 | 2,523 | 2,739 |
| ROE (net income / shareholders' equity) | 67% | 57.4% | 55.2% | 42% | - | 66.2% | 67.8% | 65.5% |
| ROA (Net income/ Total Assets) | 13% | 8.76% | 10.5% | 9.91% | - | 13.7% | 14.7% | 15.6% |
| Assets 1 | 11,565 | 13,967 | 14,001 | 16,488 | - | 14,892 | 15,190 | 15,725 |
| Book Value Per Share 2 | 1.110 | 1.080 | 1.680 | 1.980 | - | 1.890 | 2.080 | 2.440 |
| Cash Flow per Share 2 | 1.070 | 0.8200 | 1.040 | 1.240 | - | 1.460 | 1.630 | - |
| Capex 1 | 380 | 362 | 337 | 436 | - | 496 | 527 | 567 |
| Capex / Sales | 4.83% | 5.09% | 4.65% | 5.1% | - | 5.09% | 5.1% | 5.14% |
| Announcement Date | 2/13/20 | 2/11/21 | 2/10/22 | 2/16/23 | 2/15/24 | - | - | - |
1GBP in Million2GBP
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
A-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
33.29
GBP
Average target price
37.16
GBP
Spread / Average Target
+11.64%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +7.04% | 77.56B | |
| -12.23% | 194B | |
| +0.74% | 166B | |
| +2.19% | 153B | |
| +4.34% | 99.85B | |
| +19.09% | 73.55B | |
| -7.30% | 71B | |
| -20.54% | 52.81B | |
| +0.53% | 47.86B | |
| +7.60% | 37.14B |
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