Financials RELX PLC Nyse

Equities

RELX

US7595301083

IT Services & Consulting

Market Closed - Nyse Other stock markets 01:30:02 16/05/2024 am IST			5-day change	1st Jan Change
43.91 ^USD	+0.92%		+2.26%	+10.72%

14/05	RELX : UBS remains its Buy rating	ZD
14/05	UBS Raises Relx PT, Keeps Buy Rating	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	36,801	34,512	46,327	43,690	58,515	64,678	-	-
Enterprise Value (EV) ¹	43,077	41,410	52,381	50,294	58,515	70,986	70,849	71,050
P/E ratio	24.8 x	28.2 x	31.5 x	27 x	33.2 x	32.1 x	29.1 x	26.4 x
Yield	2.4%	2.62%	2.07%	2.39%	-	1.82%	1.96%	2.12%
Capitalization / Revenue	4.67 x	4.85 x	6.4 x	5.11 x	6.39 x	6.63 x	6.26 x	5.86 x
EV / Revenue	5.47 x	5.82 x	7.23 x	5.88 x	6.39 x	7.28 x	6.86 x	6.44 x
EV / EBITDA	15 x	16.3 x	19.9 x	16.2 x	16.9 x	18.8 x	17.5 x	16.4 x
EV / FCF	25.2 x	33.6 x	27.5 x	25.6 x	-	30.4 x	28.1 x	25.9 x
FCF Yield	3.97%	2.98%	3.64%	3.91%	-	3.29%	3.56%	3.86%
Price to Book	17.2 x	16.5 x	14.3 x	11.6 x	-	18.4 x	16.8 x	14.6 x
Nbr of stocks (in thousands)	19,31,309	19,25,354	19,28,681	19,09,549	18,81,510	18,68,237	-	-
Reference price ²	19.06	17.92	24.02	22.88	31.10	34.62	34.62	34.62
Announcement Date	13/02/20	11/02/21	10/02/22	16/02/23	15/02/24	-	-	-

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	9,754	10,330	11,033
EBITDA ¹	2,880	2,543	2,637	3,102	3,468	3,784	4,039	4,336
EBIT ¹	2,491	2,076	2,210	2,683	3,030	3,251	3,477	3,747
Operating Margin	31.64%	29.2%	30.51%	31.37%	33.07%	33.33%	33.66%	33.96%
Earnings before Tax (EBT) ¹	1,847	1,483	1,797	2,113	2,295	2,645	2,906	3,190
Net income ¹	1,505	1,224	1,471	1,634	1,781	2,038	2,229	2,447
Net margin	19.11%	17.22%	20.31%	19.1%	19.44%	20.89%	21.58%	22.18%
EPS ²	0.7690	0.6350	0.7630	0.8470	0.9360	1.077	1.189	1.312
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%	-	23.98%	24.42%	24.83%
FCF Conversion (EBITDA)	59.34%	48.53%	72.35%	63.35%	-	61.8%	62.46%	63.17%
FCF Conversion (Net income)	113.55%	100.82%	129.71%	120.26%	-	114.78%	113.17%	111.96%
Dividend per Share ²	0.4570	0.4700	0.4980	0.5460	-	0.6303	0.6796	0.7343
Announcement Date	13/02/20	11/02/21	10/02/22	16/02/23	15/02/24	-	-	-

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	23/07/20	11/02/21	29/07/21	28/07/22	23/02/23	16/02/23	27/07/23	15/02/24	-	-

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	-	6,307	6,170	6,372
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.179 x	2.713 x	2.296 x	2.129 x	-	1.667 x	1.528 x	1.47 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%	-	65.4%	67.2%	65.6%
ROA (Net income/ Total Assets)	13%	8.76%	10.5%	9.91%	-	13.6%	14.6%	15.6%
Assets ¹	11,565	13,967	14,001	16,488	-	15,024	15,279	15,649
Book Value Per Share ²	1.110	1.080	1.680	1.980	-	1.880	2.060	2.380
Cash Flow per Share ²	1.070	0.8200	1.040	1.240	-	1.460	1.620	1.610
Capex ¹	380	362	337	436	-	497	528	564
Capex / Sales	4.83%	5.09%	4.65%	5.1%	-	5.1%	5.11%	5.11%
Announcement Date	13/02/20	11/02/21	10/02/22	16/02/23	15/02/24	-	-	-

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

Ratings for RELX PLC

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

34.44 GBP

Average target price

37.61 GBP

Spread / Average Target

+9.21%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Other IT Services & Consulting

	1st Jan change	Capi.
ACCENTURE PLC	-12.08%	193B
TATA CONSULTANCY SERVICES LTD.	+2.29%	169B
IBM	+2.88%	154B
AUTOMATIC DATA PROCESSING, INC.	+5.86%	100B
CROWDSTRIKE HOLDINGS, INC.	+34.39%	79.71B
INFOSYS LIMITED	-7.97%	70.64B
SNOWFLAKE INC.	-17.40%	53.75B
HCL TECHNOLOGIES LIMITED	-9.09%	42.84B
CAPGEMINI SE	+10.73%	38.37B

Other IT Services & Consulting