RELX PLC (RELX) Balance Sheet

NYSE: RELXAssets, liabilities, debt and equity over 10 years.

RELX balance sheet, 2025

December 31, 2025 · British pounds

£14.76B assets = £12.37B liabilities + £2.39B equity

Both columns are drawn to the same scale: what RELX owns equals what it owes plus shareholders’ equity. Hover a block for its value.

RELX financial health

Current ratio0.49

Tight · current assets cover current liabilities 0.49×

Debt / equity3.10

High leverage · £3.10 of debt for each $1 of equity

Equity / assets16.0%

Thin equity · of assets funded by shareholders

Cash / debt1.8%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles74.6%

Mostly intangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

RELX balance sheet trends, 2016–2025

RELX PLC balance sheet trends
Metric	Then	Latest	Change
Total assets	£13.32B2016	£14.76B2025	+1.1%/yr
Total liabilities	£10.96B2016	£12.37B2025	+1.3%/yr
Shareholders’ equity	£2.36B2016	£2.37B2025	+0.0%/yr
Cash & short-term investments	£162.0M2016	£131.0M2025	−2.3%/yr
Total debt	£5.25B2016	£7.33B2025	+3.8%/yr
Net cash (debt)	−£5.08B2016	−£7.20B2025	−£2.1B
Working capital	−£2.96B2016	−£3.03B2025	−£77.0M
Current ratio	0.442016	0.492025	+0.05
Debt / equity	2.222016	3.102025	+0.87
Shares outstanding	2.08B2016	1.84B2025	−1.3%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

RELX assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

RELX liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

RELX debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

RELX balance sheet in British pounds

RELX PLC annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	£131.0M	£119.0M	£155.0M	£334.0M	£113.0M	£88.0M	£138.0M	£114.0M	£111.0M	£162.0M
Cash & equivalents	£131.0M	£119.0M	£155.0M	£334.0M	£113.0M	£88.0M	£138.0M	£114.0M	£111.0M	£162.0M
Short-term investments	—	—	£48.0M	−£16.0M	−£71.0M	−£165.0M	−£89.0M	£10.0M	£29.0M	£20.0M
Receivables	£2.47B	£2.47B	£2.03B	£2.40B	£1.96B	£1.93B	£2.07B	£1.79B	£1.87B	£1.73B
Inventory	£311.0M	£331.0M	£318.0M	£309.0M	£253.0M	£240.0M	£217.0M	£212.0M	£197.0M	£209.0M
Other current assets	£50.0M	£79.0M	£372.0M	£21.0M	£31.0M	£19.0M	£23.0M	£235.0M	£0	£256.0M
Total current assets	£2.96B	£3.00B	£2.87B	£3.07B	£2.36B	£2.27B	£2.44B	£2.35B	£2.16B	£2.35B
Property, plant & equipment (net)	£159.0M	£171.0M	£212.0M	£271.0M	£292.0M	£378.0M	£444.0M	£461.0M	£209.0M	£242.0M
Goodwill & intangible assets	£11.00B	£11.38B	£11.26B	£11.91B	£10.67B	£10.65B	£10.28B	£10.43B	£9.16B	£10.00B
Long-term investments	£0	£0	£0	£0	£0	£0	£4.25B	£2.91B	£4.90B	£1.86B
Other non-current assets	£636.0M	£586.0M	£570.0M	£577.0M	£539.0M	£844.0M	£0	£0	£0	£0
Total assets	£14.76B	£15.13B	£14.92B	£15.83B	£13.86B	£14.14B	£13.79B	£14.00B	£12.28B	£13.32B
Liabilities
Accounts payable	£4.26B	£223.0M	£171.0M	£129.0M	£109.0M	£154.0M	£173.0M	£187.0M	£3.24B	£3.42B
Short-term debt	£1.60B	£1.41B	£1.31B	£870.0M	£232.0M	£847.0M	£2.06B	£1.39B	£678.0M	£1.16B
Deferred revenue	—	—	£2.30B	£2.37B	£1.96B	£1.95B	£2.07B	−£3.25B	−£3.00B	−£3.13B
Total current liabilities	£5.99B	£5.72B	£5.49B	£5.19B	£3.75B	£4.37B	£5.95B	£5.33B	£4.53B	£5.31B
Long-term debt	£5.63B	£5.07B	£5.10B	£5.75B	£5.80B	£6.09B	£4.35B	£4.97B	£4.49B	£4.09B
Lease obligations	£97.0M	£103.0M	£141.0M	£182.0M	£208.0M	£275.0M	£342.0M	£360.0M	£10.0M	£14.0M
Other long-term liabilities	£745.0M	£844.0M	£888.0M	£1.14B	£1.09B	£1.58B	£1.30B	£1.34B	£892.0M	£1.57B
Total liabilities	£12.37B	£11.63B	£11.48B	£12.07B	£10.63B	£12.04B	£11.60B	£11.64B	£9.91B	£10.96B
Shareholders' equity
Common stock & paid-in capital	£264.0M	£272.0M	£275.0M	£279.0M	£286.0M	£286.0M	£286.0M	£290.0M	£224.0M	£226.0M
Retained earnings (deficit)	—	—	—	—	—	—	£979.0M	£984.0M	£425.0M	−£215.0M
Treasury stock	—	—	—	—	—	—	−£834.0M	−£734.0M	−£1.63B	−£1.47B
Accumulated other comprehensive income	£129.0M	£2.33B	£2.18B	£2.39B	£2.33B	£1.24B	£1.27B	£1.36B	£595.0M	£562.0M
Minority interest	£24.0M	£23.0M	−£21.0M	−£22.0M	—	—	£0	£0	£0	£0
Total shareholders' equity	£2.37B	£3.48B	£3.46B	£3.78B	£3.23B	£2.10B	£2.17B	£2.33B	£2.37B	£2.36B
Key figures
Total debt	£7.33B	£6.54B	£6.50B	£6.73B	£6.17B	£7.12B	£6.41B	£6.37B	£5.17B	£5.25B
Net cash (debt)	−£7.20B	−£6.42B	−£6.34B	−£6.40B	−£6.05B	−£7.04B	−£6.28B	−£6.25B	−£5.06B	−£5.08B
Working capital	−£3.03B	−£2.72B	−£2.62B	−£2.12B	−£1.39B	−£2.10B	−£3.50B	−£2.97B	−£2.37B	−£2.96B
Tangible book value	−£8.64B	−£7.90B	−£7.80B	−£8.14B	−£7.44B	−£8.55B	−£8.11B	−£8.10B	−£6.79B	−£7.64B
Shares outstanding	1.84B	1.88B	1.90B	1.93B	1.94B	1.94B	1.96B	1.99B	2.04B	2.08B
Current ratio	0.49	0.52	0.52	0.59	0.63	0.52	0.41	0.44	0.48	0.44
Quick ratio	0.43	0.45	0.40	0.53	0.55	0.46	0.37	0.36	0.44	0.36
Debt / equity	3.10	1.88	1.88	1.78	1.91	3.39	2.96	2.73	2.18	2.22
Equity / assets	16.0%	23.0%	23.2%	23.9%	23.3%	14.8%	15.7%	16.6%	19.3%	17.7%

RELX PLC quarterly balance sheet
	Jun '26	Dec '25	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22	Jun '22	Mar '22	Dec '21
Assets
Cash & short-term investments	£220.0M	£131.0M	£211.0M	£119.0M	£140.0M	£155.0M	£99.0M	£334.0M	£102.0M	£102.0M	£113.0M
Cash & equivalents	£220.0M	£131.0M	£211.0M	£119.0M	£140.0M	£155.0M	£99.0M	£334.0M	£102.0M	£102.0M	£113.0M
Short-term investments	—	—	—	—	−£20.0M	—	−£7.39B	−£16.0M	−£20.0M	−£20.0M	−£71.0M
Receivables	£2.34B	£2.47B	£2.16B	£2.47B	£2.16B	£2.32B	£1.99B	£2.40B	£1.98B	£1.98B	£1.96B
Inventory	£326.0M	£311.0M	£307.0M	£331.0M	£326.0M	£318.0M	£311.0M	£309.0M	£287.0M	£287.0M	£253.0M
Other current assets	£28.0M	£50.0M	£59.0M	£79.0M	£38.0M	£78.0M	£0	£21.0M	£20.0M	£20.0M	£31.0M
Total current assets	£2.92B	£2.96B	£2.73B	£3.00B	£2.66B	£2.87B	£99.0M	£3.07B	£2.39B	£2.39B	£2.36B
Property, plant & equipment (net)	£180.0M	£159.0M	£155.0M	£171.0M	£196.0M	£212.0M	£237.0M	£271.0M	£287.0M	£287.0M	£292.0M
Goodwill & intangible assets	£11.21B	£11.00B	£10.82B	£11.38B	£11.28B	£11.26B	£11.35B	£11.91B	£11.91B	£11.91B	£10.67B
Long-term investments	£0	£0	£0	£0	£0	£0	£0	£0	£0	£0	£0
Other non-current assets	£724.0M	£636.0M	£611.0M	£586.0M	£578.0M	£570.0M	£0	£577.0M	£691.0M	£691.0M	£539.0M
Total assets	£15.03B	£14.76B	£14.32B	£15.13B	£14.71B	£14.92B	£11.41B	£15.83B	£15.28B	£15.28B	£13.86B
Liabilities
Accounts payable	£4.01B	£4.26B	£3.69B	£223.0M	£3.60B	£171.0M	£3.44B	£129.0M	£3.44B	£3.44B	£109.0M
Short-term debt	£2.34B	£1.60B	£1.94B	£1.41B	£1.78B	£1.31B	£1.53B	£870.0M	£942.0M	£942.0M	£232.0M
Deferred revenue	—	—	—	—	£143.0M	£163.0M	—	—	—	—	−£3.17B
Total current liabilities	£6.50B	£5.99B	£5.77B	£5.72B	£5.58B	£5.48B	£5.23B	£5.19B	£4.66B	£4.66B	£3.75B
Long-term debt	£0	£5.63B	£5.53B	£5.07B	£5.11B	£5.10B	£5.17B	£5.75B	£5.83B	£0	£5.80B
Lease obligations	—	£97.0M	£92.0M	£103.0M	£128.0M	£141.0M	£155.0M	£182.0M	£200.0M	—	£208.0M
Other long-term liabilities	£7.28B	£745.0M	£828.0M	£844.0M	£847.0M	£888.0M	£1.01B	£1.14B	£1.15B	£6.98B	£1.09B
Total liabilities	£13.78B	£12.37B	£12.13B	£11.63B	£11.53B	£11.46B	£6.18B	£12.07B	£11.64B	£11.64B	£10.63B
Shareholders' equity
Common stock & paid-in capital	£264.0M	£264.0M	£272.0M	£272.0M	£276.0M	£275.0M	£280.0M	£279.0M	£284.0M	£284.0M	£286.0M
Retained earnings (deficit)	—	—	£1.89B	—	—	—	—	—	—	—	—
Accumulated other comprehensive income	£1.32B	£129.0M	£1.95B	£2.33B	£2.53B	£392.0M	£2.33B	£2.39B	£2.77B	£2.77B	£2.33B
Minority interest	£17.0M	£24.0M	£14.0M	£23.0M	—	—	—	—	—	—	—
Total shareholders' equity	£1.24B	£2.37B	£2.18B	£3.48B	£3.21B	£3.46B	£3.27B	£3.78B	£3.65B	£3.65B	£3.23B
Key figures
Total debt	£8.91B	£7.33B	£7.54B	£6.54B	£6.96B	£6.50B	£6.80B	£6.73B	£6.90B	£6.90B	£6.17B
Net cash (debt)	−£8.69B	−£7.20B	−£7.32B	−£6.42B	−£6.82B	−£6.34B	−£6.70B	−£6.40B	−£6.80B	−£6.80B	−£6.05B
Working capital	−£3.58B	−£3.03B	−£3.04B	−£2.72B	−£2.92B	−£2.60B	−£5.13B	−£2.12B	−£2.27B	−£2.27B	−£1.39B
Tangible book value	−£9.97B	−£8.64B	−£8.64B	−£7.90B	−£8.07B	−£7.80B	−£8.07B	−£8.14B	−£8.26B	−£8.26B	−£7.44B
Shares outstanding	1.79B	1.83B	1.85B	1.87B	1.90B	1.90B	1.91B	1.92B	1.94B	—	1.93B
Current ratio	0.45	0.49	0.47	0.52	0.48	0.52	0.02	0.59	0.51	0.51	0.63
Quick ratio	0.39	0.43	0.41	0.45	0.41	0.45	0.40	0.53	0.45	0.45	0.55
Debt / equity	7.19	3.10	3.46	1.88	2.17	1.88	2.08	1.78	1.89	1.89	1.91
Equity / assets	8.2%	16.0%	15.2%	23.0%	21.8%	23.2%	28.7%	23.9%	23.9%	23.9%	23.3%

Quarterly columns are labeled by the month the quarter ended. Figures in British pounds as reported (latest annual report filed December 31, 2025); data from EODHD.

RELX financial position

At the end of fiscal 2025 (December 31, 2025), RELX had total assets of £14.8 billion (down 2.5% from a year earlier), total liabilities of £12.4 billion and shareholders' equity of £2.4 billion. It held £131.0 million in cash and short-term investments against £7.3 billion of debt, net debt of £7.2 billion. Its current ratio was 0.49. In the latest quarter (ended June 30, 2026) total assets were £15.0 billion and equity £1.2 billion.

Related: RELX income statement, RELX cash flow statement, RELX key metrics. See the RELX stock overview for the latest quote and news.

RELX balance sheet FAQ

What are RELX's total assets?

RELX reported total assets of £14.8 billion at the end of fiscal 2025 (December 31, 2025), compared with £15.1 billion a year earlier.

How much debt does RELX have?

RELX had £7.3 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 3.10.

How much cash does RELX have?

RELX held £131.0 million in cash and short-term investments at the end of fiscal 2025; with £7.3 billion of debt that is net debt of £7.2 billion.

What is RELX's book value?

RELX's shareholders' equity (book value) was £2.4 billion at the end of fiscal 2025.

What is RELX's current ratio?

RELX had current assets of £3.0 billion and current liabilities of £6.0 billion, a current ratio of 0.49 (current liabilities exceed current assets).

How much goodwill does RELX have?

RELX carried £11.0 billion of goodwill and intangible assets, 74.6% of total assets, at the end of fiscal 2025.