RELX PLC (RELX) Stock Price & How to Invest
Last updated October 2026
Short answer
RELX is a London-based information and analytics company (LexisNexis, Elsevier, LexisNexis Risk Solutions and RX exhibitions) whose NYSE ADR trades as RELX, one ADR per ordinary share. Its results keep compounding at about 7% underlying revenue growth and 9% profit growth, yet the ADR sits roughly a third below its 2025 all-time high near $56 because the market is pricing in the risk that generative AI erodes its legal and scientific franchises.
RELX stock price
As of 2026-10-16, RELX PLC (RELX) last closed at $39.06, down 13.6% over the past year. Over the past 52 weeks it has traded between $27.73 and $46.80.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or RELX PLC's investor relations page. Walnut is informational, not investment advice.
What does RELX PLC (RELX) do?
RELX PLC is a UK-headquartered provider of information-based analytics and decision tools for professional and business customers, formed from the old Reed Elsevier. It runs four segments. Risk (LexisNexis Risk Solutions) supplies fraud, identity, credit and insurance analytics and is the largest profit contributor. Scientific, Technical and Medical (Elsevier) publishes journals such as The Lancet and Cell and runs databases like ScienceDirect and Scopus, with databases, tools and electronic reference making up around 40% of its revenue. Legal (LexisNexis) sells legal research and AI-assisted drafting, including Lexis+ AI and the Protégé assistant. Exhibitions (RX) organises trade shows worldwide. In 2025 the group generated about £9.6bn of revenue and about £3.34bn of adjusted operating profit, a margin near 34.8%, and most revenue is recurring subscription or transactional income. Underlying revenue growth in 2025 was 8% in Risk, 5% in STM, 9% in Legal and 8% in Exhibitions, so every division contributed. The ordinary shares list in London (REL) and Amsterdam, and the sponsored NYSE ADR represents one ordinary share.
The investment picture is a split between fundamentals and sentiment. RELX reported first-half 2026 revenue of about £4.87bn (+7% underlying) and adjusted operating profit of about £1.73bn (+9% underlying), lifted its margin to about 35.5%, raised its interim dividend about 7% to 20.9p and kept buying back stock, with roughly 74m shares repurchased in 2026 through late July. Adjusted operating profit came in slightly ahead of consensus, while reported revenue was a touch below it because of the weaker dollar. Even so, the ADR closed at about $38.42 on October 15, 2026, down roughly 5% year to date, below the top of its 52-week range ($27.57 to $47.22) and roughly a third below its 2025 all-time high near $56, because investors worry that large language models could commoditise legal research and scientific content. JPMorgan has argued those fears have gone too far, and Morningstar describes the shares as deeply undervalued with an intact wide moat. Skeptics, including some UK commentators, argue the multiple deserved to come down from levels of around 25x earnings or more, and that the long-term threat is still unproven in either direction.
What's driving RELX PLC (RELX)?
1. Risk analytics as the growth and profit engine
LexisNexis Risk Solutions serves insurers, banks, governments and e-commerce firms with fraud, identity and underwriting data, and in 2025 it grew underlying revenue 8% and underlying adjusted operating profit 10%. Demand is tied to transaction volumes, insurance quoting and regulatory compliance rather than discretionary budgets, which has historically made the segment resilient through economic cycles. Its value comes from large proprietary datasets, such as US auto and property insurance claims histories and digital identity networks, that are hard for a new entrant or an AI model to replicate. Management described Risk growth as continuing strong into 2026, and it is the segment least exposed to the generative AI debate.
2. Legal AI products turning disruption into revenue
Legal grew underlying revenue 9% and underlying adjusted operating profit 12% in 2025, the fastest of the four segments, which RELX attributes largely to a mix shift toward analytics and AI tools such as Lexis+ AI and Protégé. The company argues that AI answers grounded in its proprietary case law, citations and Shepard's citator data are more reliable than general-purpose models, and that this supports higher prices per seat. Law firms and corporate legal departments have been early adopters of generative AI, which cuts both ways: it creates demand for RELX's tools and invites competition from AI-native rivals. Whether pricing power holds as those rivals mature is the central question for this segment and for the share price.
3. Elsevier shifting from publishing toward analytics
Elsevier grew underlying revenue 5% and underlying adjusted operating profit 7% in 2025, described by management as good growth with improving momentum. The improvement has come from databases, clinical decision tools such as ClinicalKey, and research analytics rather than journal subscriptions alone, which now make up a smaller share of the mix. Open-access publishing mandates and academic budget pressure have weighed on the business for years, so the shift toward higher-value tools matters for long-term growth. Licensing content to AI developers and embedding generative AI into products like ScienceDirect and Scopus are newer, less proven levers.
4. Capital returns and margin expansion
RELX has pushed its adjusted operating margin from about 33.9% in 2024 to about 34.8% in 2025 and about 35.5% in the first half of 2026, because costs have grown slower than revenue. It completed a £1.5bn buyback in 2025, made five small acquisitions for about £270m, and kept net debt to EBITDA near 2.0x. The full-year 2025 dividend rose 7% to 67.5p, and buybacks continued at a faster pace in 2026. That combination is a big part of why adjusted EPS has grown faster than revenue, at about 10% at constant currency in 2025 and 11% in the first half of 2026.
What are the risks to RELX PLC (RELX)?
The most-discussed risk is that generative AI tools from OpenAI, Anthropic, Harvey, Thomson Reuters and others weaken the value of curated legal and scientific content, or push prices down. That fear has already driven a large de-rating, with Morningstar putting the peak-to-trough decline from the 2025 high at roughly 50%, even though reported growth has not slowed. Elsevier faces ongoing pressure from open-access mandates and constrained university and government research budgets, including the risk of US federal research funding cuts. The Exhibitions business is cyclical and depends on corporate travel and marketing spending, and it was nearly shut down during the pandemic. RELX reports in sterling but earns heavily in US dollars, so currency swings move reported results and the ADR price, as the weaker dollar showed in the first half of 2026. The Risk segment also handles sensitive personal data, which brings regulatory, privacy and data-security exposure.
Is RELX a buy or a sell?
We give no verdict on RELX PLC. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.
The case for buying. Risk analytics as the growth and profit engine. LexisNexis Risk Solutions serves insurers, banks, governments and e-commerce firms with fraud, identity and underwriting data, and in 2025 it grew underlying revenue 8% and underlying adjusted operating profit 10%.
The case against. The most-discussed risk is that generative AI tools from OpenAI, Anthropic, Harvey, Thomson Reuters and others weaken the value of curated legal and scientific content, or push prices down.
Read the full bull and bear case on RELX, including what would have to change to break either one. Walnut is not an investment adviser.
How is RELX PLC (RELX) valued? (approximate, October 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see RELX PLC's investor relations page or your broker.
- Revenue (FY2025): ~£9.6bn (+7% underlying)
- Revenue (H1 2026): ~£4.87bn (+7% underlying)
- Adjusted operating margin (H1 2026): ~35.5%
- Adjusted EPS (FY2025): ~128.5p (+10% constant currency)
- Market cap: ~$67bn (ADR ~$38.42)
- P/E (trailing adjusted): ~20-21x
At an ADR price of about $38.42 on October 15, 2026, RELX trades near 20 to 21 times trailing adjusted earnings of roughly 134p, compared with a historical average closer to the mid-20s and a dividend yield of roughly 2.5%. JPMorgan put the shares at about 21x forecast 2026 earnings earlier in the year, down from about 24x a year before, and the multiple has compressed further since. Analyst views diverge widely, from Morningstar's fair value estimate of 4,200p (about $57 per ADR at the time) to UK commentators who see the de-rating as justified. The company's third-quarter trading update is expected around October 22, 2026, and RELX typically gives only qualitative commentary at that point, not full figures.
Who competes with RELX PLC (RELX)?
Legal and professional information
Thomson Reuters (Westlaw, Practical Law, CoCounsel) is LexisNexis's main rival in legal research, and the two have long split the US legal research market. Wolters Kluwer competes across legal, tax, compliance and health information, including with UpToDate against Elsevier's clinical tools. AI-native entrants such as Harvey, and general-purpose models from OpenAI and Anthropic, are the newer competitive threat that drives much of the debate around RELX's valuation.
Risk, data and analytics
In risk and identity analytics RELX competes with Experian, TransUnion, Equifax, Verisk and Fair Isaac, as well as fraud and identity specialists. These companies sell overlapping data products to the same banks, insurers and governments, and investors often compare their growth rates and valuations directly, since they are less exposed to the AI content debate than legal and publishing.
Scientific publishing and events
Elsevier competes with Springer Nature, Wiley, Taylor & Francis (owned by Informa) and open-access publishers such as MDPI and Frontiers for authors, journal prestige and institutional budgets. In exhibitions, RX competes with Informa and other trade show organisers for exhibitors and attendees, and scale in the largest shows is a meaningful advantage.
What stocks are similar to RELX PLC (RELX)?
Other names that sit close to RELX: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.
How to invest in RELX PLC (RELX)
There are three common ways to get RELX exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so RELX sits alongside other stocks that express the same thesis.
Walnut takes the portfolio route. Describe a thesis where RELX fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.
The bottom line on RELX PLC (RELX)
RELX is a case of steady, high-margin execution colliding with an AI-disruption narrative, and the gap between the two is what the current valuation reflects.
More on RELX PLC (RELX)
Whether RELX is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is RELX a buy or a sell?, and where the stock could go from here in the RELX stock forecast.
For income investors, whether RELX pays a dividend and how the payout looks is covered in does RELX pay a dividend? And to weigh RELX against a peer, read the full side-by-side comparisons: RELX vs TRI and RELX vs EXPGY.
Wondering how RELX fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in RELX PLC with AI
Connect the broker you already use and ask Walnut's AI how RELX fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What does RELX actually do?
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RELX sells information and analytics to professionals and businesses through four segments. Risk (LexisNexis Risk Solutions) provides fraud detection, identity verification and insurance data, and is the largest profit contributor. Scientific, Technical and Medical (Elsevier) publishes research journals such as The Lancet and runs databases and clinical tools. Legal (LexisNexis) provides legal research and AI-assisted drafting tools to law firms and corporate legal teams. Exhibitions (RX) organises trade shows around the world. Most revenue is recurring subscriptions or transactional fees, which is why its results tend to be steady from year to year. In 2025 the group produced about £9.6bn of revenue at an adjusted operating margin near 35%, and all four segments grew underlying revenue between 5% and 9%.
What is the RELX ticker on the NYSE, and how does the ADR work?
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In the US, RELX PLC trades as a sponsored American Depositary Receipt under the ticker RELX on the New York Stock Exchange. Each ADR represents one ordinary share, which also trades in London under REL and in Amsterdam. The ADR is priced in US dollars, so its value reflects both the London share price and the pound to dollar exchange rate, which means a stronger pound lifts the ADR even if the London price is flat. Dividends are declared in pence or euro cents and converted to dollars for ADR holders, and the depositary bank may charge small per-share fees. Because RELX is a UK company, it reports twice a year with brief trading updates in between, following UK rules rather than US 10-K and 10-Q forms.
How did RELX perform in its most recent results?
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In its first-half 2026 results, published July 23, 2026, RELX reported revenue of about £4.87bn, up 7% on an underlying basis, and adjusted operating profit of about £1.73bn, up 9% underlying. The adjusted operating margin rose to about 35.5% from 34.8%. Adjusted EPS was 68.6p, up 11% at constant currency, and the interim dividend rose to 20.9p from 19.5p. Reported revenue grew only about 2.7% because of currency effects, and was slightly below the roughly £4.91bn consensus cited by Bloomberg, while adjusted operating profit was a little ahead of expectations. Management reaffirmed its full-year outlook for strong underlying growth in revenue, adjusted operating profit and adjusted earnings per share at constant currency.
Is AI a threat or an opportunity for RELX?
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It is both, and the market has not settled the question. RELX argues it benefits because its products combine AI with proprietary, curated data and citations that general models lack, and it points to Lexis+ AI and Protégé as drivers of Legal's 9% underlying growth in 2025 and a better mix. In legal work a fabricated citation can have real consequences, which RELX says favours tools grounded in verified sources. Critics argue that large AI companies and specialists like Harvey could narrow that advantage over time, especially for smaller firms and less specialised users, and that licensing content to AI developers may cannibalise subscriptions. So far reported numbers have not shown erosion, but this risk plays out over years, not quarters.
How is RELX valued compared with its history?
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With the ADR at about $38.42 on October 15, 2026 and trailing adjusted EPS of roughly 134p, RELX trades at about 20 to 21 times earnings, with a market capitalisation around $67bn. That compares with a historical average closer to 25x in recent years and a peak above 30x in 2025. Analysts disagree on what the lower multiple means. Morningstar has described the shares as deeply undervalued with a fair value of 4,200p, well above the current price, while Investors Chronicle has argued the de-rating is justified on earnings and yield, though it noted a possible bid or break-up as upside. The multiple is also lower than legal rival Thomson Reuters on most measures.
What are the main risks for RELX holders?
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The headline risk is AI disruption in legal and scientific information, which could pressure pricing or customer retention over time. Elsevier also faces long-running pressure from open-access publishing and constrained university and government research budgets. Exhibitions is the most cyclical segment and depends on corporate travel and marketing budgets, as the pandemic showed. Currency is a factor because RELX reports in pounds but earns much of its revenue in dollars, so ADR holders see exchange rate effects twice. Regulatory scrutiny of data brokers and privacy rules could affect the Risk business. Finally, a stock that has de-rated on sentiment can stay de-rated if the AI debate is not resolved. Walnut is not an investment adviser, and this is descriptive information, not a recommendation.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with RELX PLC's investor relations page or your broker before making investment decisions.