Relx plc (REL)

Sector:

Media

Index:

FTSE 100

3,444.00p
   
  • Change Today:
      33.00p
  • 52 Week High: 3,504.00
  • 52 Week Low: 2,442.00
  • Currency: UK Pounds
  • Shares Issued: 1,873.97m
  • Volume: 2,469,213
  • Market Cap: £64,539m
  • RiskGrade: 128

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Annualisation Factor 1.0 1.0 n/a 1.0 1.0
Dividend Yield 1.9% 2.4% 2.1% 2.6% 2.4%
           
Continuing Operations          
PE Ratio - Adjusted 27.3 22.4 27.4 22.4 20.5
PE Ratio - Diluted 33.2
32.1		 27.0
27.0		 31.7
33.9		 28.4
31.7		 24.8
25.1
PEG - Adjusted 2.3 1.3 3.0 n/a 0.7
PEG - Diluted 3.3
2.3		 2.3
1.3		 1.6
1.4		 n/a
n/a		 3.1
2.1
Return on Capital Employed n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a
Operating Margin 27.99%
29.40%		 26.83%
27.72%		 26.37%
25.01%		 23.28%
21.49%		 27.33%
27.61%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 27.3 22.4 2,716.5 22.4 20.5
PE Ratio - Diluted 33.2
32.1		 27.0
27.0		 3,139.3
3,361.3		 28.4
31.7		 24.8
25.1
PEG - Adjusted 2.3 0.0 n/a n/a 0.1
PEG - Diluted 3.3
2.3		 0.0
0.0		 n/a
n/a		 n/a
n/a		 0.2
0.2

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Net Gearing 183.29% 169.39% 187.31% 335.16% 289.75%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Price/Book Value (7.5) (5.4) (6.2) (4.0) (4.6)
Price/Tangible Book Value (7.5) (5.4) (6.2) (4.0) (4.6)
Price/ Cash Flow 23.9 18.3 23.0 21.6 17.7
Price/Revenue 6.42 5.13 633.34 4.86 4.70
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) (413.47p) (425.23p) (386.20p) (443.77p) (416.05p)
Net Cash per Share n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Continuing Operations          
Revenue 9,161.00 8,553.00 73.12 7,110.00 7,874.00
EBITDA 3,078.00
3,207.00		 2,786.00
2,862.00		 27.20
26.21		 1,655.00
1,528.00		 2,152.00
2,174.00
Depreciation (514.00)
(514.00)		 (491.00)
(491.00)		 (7.92)
(7.92)		 n/a
n/a		 n/a
n/a
Net Interest (315.00)
(315.00)		 (201.00)
(201.00)		 (1.43)
(1.43)		 (172.00)
(172.00)		 (305.00)
(305.00)
Profit Before Tax 2,295.00
2,424.00		 2,113.00
2,189.00		 18.14
17.15		 1,483.00
1,356.00		 1,847.00
1,829.00
           
Revenue per Share 484.25p 445.82p 3.79p 369.12p 405.14p
Pre-Tax Profit per Share 121.31p
128.13p		 110.14p
114.10p		 0.94p
0.89p		 76.99p
70.40p		 95.03p
94.11p
Market Capitalisation £ (Millions) 59,304.83 44,270.06 47,678.78 35,532.71 37,744.19
Enterprise Value (EV) £ (Millions) 65,767.83 51,000.06 53,814.78 42,636.71 44,135.19
EBITDA/EV 4.68%
4.88%		 5.46%
5.61%		 0.05%
0.05%		 3.88%
3.58%		 4.88%
4.93%
Operating Margin 27.99%
29.40%		 26.83%
27.72%		 26.37%
25.01%		 23.28%
21.49%		 27.33%
27.61%
Capital Employed £ (Millions) (845.00) (823.00) (665.00) (754.00) (1,057.00)
Return on Capital Employed n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a
Invested Equity Capital £ (Millions) 3,940.00 4,381.00 3,846.00 2,770.00 2,781.00
           
Earnings per Share - Basic 94.10p
97.47p		 85.20p
85.22p		 76.30p
71.21p		 63.50p
56.95p		 77.40p
76.51p
Earnings per Share - Diluted 93.60p
96.91p		 84.70p
84.75p		 75.80p
70.80p		 63.20p
56.61p		 76.90p
76.02p
Earnings per Share - Adjusted 114.00p 102.20p 87.60p 80.10p 93.00p
Earnings per Share Growth - Basic 10%
14%		 12%
20%		 20%
25%		 -18%
-26%		 8%
12%
Earnings per Share Growth - Diluted 10%
14%		 12%
20%		 20%
25%		 -18%
-26%		 8%
12%
Earnings per Share Growth - Adjusted 12% 17% 9% -14% 29%
PE Ratio - Diluted 33.2
32.1		 27.0
27.0		 31.7
33.9		 28.4
31.7		 24.8
25.1
PEG - Diluted 3.3
2.3		 2.3
1.3		 1.6
1.4		 n/a
n/a		 3.1
2.1
Tax Rate 22.54% 22.97% 18.10% 18.54% 18.30%
Dividend Cover 1.94
1.66		 1.87
1.56		 1.76
1.43		 1.70
1.21		 2.04
1.67
Interest Cover 8.11
8.50		 11.31
11.68		 12.98
12.33		 9.47
8.75		 6.88
6.82
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 94.10p
97.47p		 85.20p
85.22p		 0.77p
0.72p		 63.50p
56.95p		 77.40p
76.51p
Earnings per Share - Diluted 93.60p
96.91p		 84.70p
84.75p		 0.77p
0.71p		 63.20p
56.61p		 76.90p
76.02p
Earnings per Share - Adjusted 114.00p 102.20p 0.88p 80.10p 93.00p
Earnings per Share Growth - Basic 10%
14%		 10,962%
11,756%		 -99%
-99%		 -18%
-26%		 115%
124%
Earnings per Share Growth - Diluted 10%
14%		 10,970%
11,759%		 -99%
-99%		 -18%
-26%		 115%
124%
Earnings per Share Growth - Adjusted 12% 11,458% -99% -14% 159%
PE Ratio - Diluted 33.2
32.1		 27.0
27.0		 3,139.3
3,361.3		 28.4
31.7		 24.8
25.1
PEG - Diluted 3.3
2.3		 0.0
0.0		 n/a
n/a		 n/a
n/a		 0.2
0.2
Dividend Cover 1.94
1.66		 1.87
1.56		 0.02
0.01		 1.70
1.21		 2.04
1.67
Return on Equity (ROE) 45.20%
46.80%		 37.30%
37.32%		 0.39%
0.36%		 44.19%
39.60%		 54.12%
53.47%
Operating Cash Flow per Share 129.88p 125.15p 104.56p 82.86p 107.49p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share (8.93p) 10.84p 0.014p (2.65p) 1.39p
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 58.80p 54.60p 49.80p 47.00p 45.70p
Dividend per Share Growth 7.69% 9.64% 5.96% 2.84% 8.55%
Dividend Yield 1.9% 2.4% 2.1% 2.6% 2.4%
Shareholders Funds 3,460.00 3,776.00 3,232.00 2,099.00 2,166.00
Net Borrowings £ (Millions) 6,342.00 6,396.00 6,054.00 7,035.00 6,276.00
Net Asset Value per Share (inc. Intangibles) (412.36p) (424.08p) (385.79p) (443.88p) (417.29p)

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Shareholders' Funds inc Intangibles 3,460.00 3,776.00 3,232.00 2,099.00 2,166.00
Net Borrowings £ (Millions) 6,342.00 6,396.00 6,054.00 7,035.00 6,276.00
Net Gearing 183.29% 169.39% 187.31% 335.16% 289.75%
Cash & Near Cash 155.00 334.00 113.00 88.00 138.00
Cash 4.48% 8.85% 3.50% 4.19% 6.37%
Gross Borrowings 6,497.00 6,730.00 6,167.00 7,123.00 6,414.00
Gross Gearing 187.77% 178.23% 190.81% 339.35% 296.12%
Borrowings Under 5 years 6,497.00 6,730.00 6,167.00 7,123.00 6,414.00
Under 5 years 187.77% 178.23% 190.81% 339.35% 296.12%
Borrowings Under 1 year n/a n/a n/a n/a n/a
Under 1 year n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - exc Intangibles 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Shareholders' Funds exc Intangibles (7,801.00) (8,136.00) (7,438.00) (8,550.00) (8,110.00)
Net Borrowings £ (Millions) 6,342.00 6,396.00 6,054.00 7,035.00 6,276.00
Net Gearing (81.30%) (78.61%) (81.39%) (82.28%) (77.39%)
Cash & Near Cash 155.00 334.00 113.00 88.00 138.00
Cash (1.99%) (4.11%) (1.52%) (1.03%) (1.70%)
Gross Borrowings 6,497.00 6,730.00 6,167.00 7,123.00 6,414.00
Gross Gearing 83.28% 82.72% 82.91% 83.31% 79.09%
Borrowings Under 5 years 6,497.00 6,730.00 6,167.00 7,123.00 6,414.00
Under 5 years (83.28%) (82.72%) (82.91%) (83.31%) (79.09%)
Borrowings Under 1 year n/a n/a n/a n/a n/a
Under 1 year n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Cover 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Quick Ratio 0.46 0.53 0.56 0.47 0.37
Current Ratio 0.52 0.59 0.63 0.52 0.41

Key

* GAAP

a. Includes discontinued activities

b. Based on operating cash flow before tax

c. Not disclosed under IFRS

d. Includes non-current assets

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

Note 3: Above ratios are on a 'per annum' basis, adjusted for corporate actions and based on the fundamentals of the primary listed security.

Note 4: Under IFRS, all figures are based on 'Continuing' operations unless otherwise stated.

Note 5: Normalised ratios are shown in blue text

Note 6: Forecast figures based on normalised accounts.

 

Top of Page