RELX PLC (RELX) Key Metrics
RELX key metrics, 2016–2025
Fiscal year ended December 31, 2025 · British poundsRELX returns How much profit the business earns on the capital it uses.
RELX financial health Debt, liquidity and how easily interest is covered.
RELX efficiency & capital use Working capital cycle and where the cash goes.
RELX returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
RELX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
RELX cash returned to shareholders
RELX key metrics in British pounds
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 70.6% | 55.7% | 49.2% | 46.6% | 55.2% | 57.4% | 67.0% | 60.5% | 70.1% | 51.6% |
| Return on invested capital (ROIC) | 23.1% | 22.1% | 20.9% | 18.4% | 16.7% | 14.1% | 20.2% | 20.4% | 24.6% | 20.3% |
| Return on assets (ROA) | 13.8% | 12.9% | 11.6% | 11.0% | 10.5% | 8.8% | 10.8% | 10.8% | 13.0% | 9.5% |
| Return on tangible assets | 55.0% | 51.5% | 48.7% | 41.7% | 46.1% | 35.0% | 42.8% | 39.9% | 53.1% | 34.9% |
| Free cash flow margin | 29.8% | 27.8% | 26.7% | 23.0% | 23.2% | 17.4% | 21.7% | 26.1% | 25.8% | 24.3% |
| Income quality (OCF / net income) | 1.39 | 1.37 | 1.39 | 1.47 | 1.37 | 1.30 | 1.39 | 1.42 | 1.18 | 1.49 |
| Financial health | ||||||||||
| Total debt | £7.33B | £6.54B | £6.50B | £6.73B | £6.17B | £7.12B | £6.41B | £6.37B | £5.17B | £5.25B |
| Cash & short-term investments | £131.0M | £119.0M | £155.0M | £334.0M | £113.0M | £88.0M | £138.0M | £114.0M | £111.0M | £162.0M |
| Net debt | £7.20B | £6.42B | £6.34B | £6.40B | £6.05B | £7.04B | £6.28B | £6.25B | £5.06B | £5.08B |
| Debt / equity | 3.10 | 1.88 | 1.88 | 1.78 | 1.91 | 3.39 | 2.96 | 2.73 | 2.18 | 2.22 |
| Debt / assets | 0.50 | 0.43 | 0.44 | 0.43 | 0.45 | 0.50 | 0.47 | 0.45 | 0.42 | 0.39 |
| Net debt / EBITDA | 1.92 | 1.77 | 1.88 | 2.09 | 2.29 | 2.84 | 2.22 | 2.46 | 2.01 | 2.30 |
| Current ratio | 0.49 | 0.52 | 0.52 | 0.59 | 0.63 | 0.52 | 0.41 | 0.44 | 0.48 | 0.44 |
| Quick ratio | 0.44 | 0.47 | 0.47 | 0.53 | 0.56 | 0.47 | 0.37 | 0.40 | 0.43 | 0.40 |
| Interest coverage | 10.0 | 10.2 | 8.9 | 12.8 | 12.6 | 10.1 | 7.0 | 10.0 | 10.5 | 8.4 |
| Working capital | −£3.03B | −£2.72B | −£2.62B | −£2.12B | −£1.39B | −£2.10B | −£3.50B | −£2.97B | −£2.37B | −£2.96B |
| Invested capital | £9.57B | £9.91B | £9.80B | £10.17B | £9.29B | £9.13B | £8.44B | £8.58B | £7.43B | £7.44B |
| Tangible asset value | −£8.61B | −£7.88B | −£7.82B | −£8.16B | −£7.45B | −£8.55B | −£8.09B | −£8.07B | −£6.79B | −£7.64B |
| Net current asset value | −£9.41B | −£8.63B | −£8.60B | −£9.01B | −£8.28B | −£9.77B | −£9.15B | −£9.29B | −£7.75B | −£8.61B |
| Capital allocation | ||||||||||
| Dividends paid | £1.18B | £1.12B | £1.06B | £983.0M | £920.0M | £880.0M | £842.0M | £796.0M | £762.0M | £683.0M |
| Share buybacks (net) | £1.58B | £1.07B | £850.0M | £550.0M | £1.0M | £187.0M | £637.0M | £743.0M | £739.0M | £729.0M |
| Dividend payout ratio | 57.2% | 58.0% | 59.5% | 60.2% | 62.5% | 71.9% | 55.9% | 56.0% | 45.9% | 58.8% |
| Dividends + buybacks / free cash flow | 96.6% | 83.7% | 78.0% | 78.0% | 54.9% | 86.5% | 86.5% | 78.6% | 79.0% | 84.3% |
| Capex / revenue | 0.2% | 0.2% | 0.3% | 5.1% | 4.7% | 5.1% | 4.8% | 0.7% | 0.7% | 0.7% |
| Capex / operating cash flow | 0.7% | 0.8% | 1.2% | 18.2% | 16.7% | 22.7% | 18.2% | 2.8% | 2.6% | 3.0% |
| Capex / depreciation | 0.03 | 0.03 | 0.04 | 0.61 | 0.47 | 0.43 | 0.56 | 0.09 | 0.08 | 0.09 |
| Stock-based compensation / revenue | 0.7% | 0.7% | 0.6% | 0.5% | 0.6% | 0.4% | 0.4% | 0.5% | 0.5% | 0.6% |
| R&D / revenue | 3.7% | 3.9% | 3.6% | 3.6% | 4.1% | — | — | — | 2.8% | 2.7% |
| SG&A / revenue | 19.4% | 19.6% | 20.2% | 21.3% | 22.5% | 43.8% | 38.8% | 38.9% | 23.0% | 23.6% |
| Efficiency | ||||||||||
| Days sales outstanding | 93.9 | 87.0 | 88.3 | 93.1 | 97.9 | 102.5 | 89.4 | 89.3 | 89.3 | 88.1 |
| Days of inventory on hand | 33.7 | 35.9 | 35.6 | 33.7 | 35.1 | 33.5 | 28.4 | 28.2 | 28.2 | 26.9 |
| Days payables outstanding | 235.0 | 21.8 | 17.0 | 14.3 | 18.7 | 24.0 | 23.8 | 236.3 | 462.1 | 269.1 |
| Cash conversion cycle (days) | -107.5 | 101.1 | 106.9 | 112.6 | 114.3 | 112.1 | 94.0 | -118.9 | -344.6 | -154.1 |
| Receivables turnover | 3.89 | 4.20 | 4.13 | 3.92 | 3.73 | 3.56 | 4.08 | 4.09 | 4.09 | 4.14 |
| Payables turnover | 1.55 | 16.75 | 21.44 | 25.59 | 19.48 | 15.21 | 15.31 | 1.54 | 0.79 | 1.36 |
| Inventory turnover | 10.84 | 10.17 | 10.26 | 10.84 | 10.39 | 10.88 | 12.84 | 12.93 | 12.96 | 13.56 |
| Asset turnover | 0.64 | 0.63 | 0.60 | 0.58 | 0.52 | 0.51 | 0.57 | 0.57 | 0.57 | 0.56 |
| Average receivables | £2.47B | £2.25B | £2.22B | £2.18B | £1.94B | £2.00B | £1.93B | £1.83B | £1.80B | £1.66B |
| Average payables | £2.24B | £197.0M | £150.0M | £119.0M | £131.5M | £163.5M | £180.0M | £1.71B | £3.33B | £1.83B |
| Average inventory | £321.0M | £324.5M | £313.5M | £281.0M | £246.5M | £228.5M | £214.5M | £204.5M | £203.0M | £183.5M |
| Intangibles / total assets | 74.6% | 75.2% | 75.5% | 75.3% | 77.0% | 75.3% | 74.5% | 74.5% | 74.6% | 75.0% |
Computed from RELX's annual financial statements (latest annual report filed December 31, 2025) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in British pounds; data from EODHD. Averages use the opening and closing balance of each year.
RELX valuation and financial ratios
RELX earned a return on equity of 70.6% and a return on invested capital of 23.1% in fiscal 2025. It ended the year with £7.3 billion of debt and £131.0 million in cash and short-term investments, net debt of £7.2 billion. It returned £2.8 billion to shareholders: £1.2 billion in dividends and £1.6 billion in share buybacks, 97% of free cash flow.
See the RELX income statement, the RELX chart for price history, or the RELX stock overview for the latest quote and news.
RELX key metrics FAQ
What is RELX's return on equity?
RELX's return on equity (ROE) was 70.6% in fiscal 2025: net income of £2.1 billion on average shareholders' equity of £2.9 billion.
What is RELX's ROIC?
RELX's return on invested capital was 23.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does RELX have?
RELX had total debt of £7.3 billion at the end of fiscal 2025, a debt-to-equity ratio of 3.10 and £7.2 billion of net debt (1.92 times EBITDA).
Does RELX buy back its shares?
Yes. RELX spent £1.6 billion on net share repurchases in fiscal 2025.
What is RELX's current ratio?
RELX's current ratio was 0.49 at the end of fiscal 2025: current assets were 0.49 times current liabilities.