RELX (REL) entered 2025 in a position of relative strength. The company’s model is built on four durable engines, Science, Legal, Risk, and Exhibitions, and each contributes recurring demand, predictable revenue, and high-margin digital services. This structure has helped RELX grow consistently across cycles, especially as it shifted deeper into analytics, decision tools, and AI-enabled platforms over the last decade.
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The first half of 2025 continued that trend. Underlying revenue and underlying adjusted operating profit grew across all four divisions. Demand for data, workflow tools, and digital research solutions remained resilient despite uneven macro conditions. Risk Solutions and Legal continued to benefit from structural demand for analytics and compliance technologies, while Science enjoyed steady adoption of research and publishing tools. Exhibitions also delivered year-on-year growth as global events normalized further.
The October trading update reinforced the steady tone. Management reported that RELX remains on track for underlying growth in revenue and profit for the full year, highlighting consistent customer demand across digital platforms and continued expansion of analytics-driven services. While the stock has faced pressure in 2025, the company’s fundamentals indicate it is still executing well. The setup for 2026 depends less on a dramatic shift and more on continuity, stability, and long-term digital adoption.
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Financial Story
RELX’s Half-Year 2025 results showed broad-based strength across the group. Underlying revenue grew in all four divisions, supported by continued demand for digital research tools, analytics, legal workflow solutions, and global exhibitions. Risk Solutions produced strong underlying revenue growth, driven by identity verification, fraud prevention, and decision analytics products. Legal delivered steady subscription and platform adoption, backed by workflow upgrades and continued digitalization of legal processes.
| Metric | Trend |
|---|---|
| Underlying Revenue | Growth across all four divisions |
| Underlying Adjusted Operating Profit | Growth across all four divisions |
| Science | Underlying revenue and profit growth |
| Legal | Underlying revenue and profit growth |
| Risk | Strong underlying revenue and profit growth |
| Exhibitions | Underlying revenue and profit growth |
| Cash Generation | Resilient |
| Full-Year Outlook | Underlying revenue and profit growth expected |
Operating performance remained healthy. Underlying adjusted operating profit increased across all divisions, reflecting strong margin control and the company’s ongoing shift toward higher-value digital solutions. Science & medicine benefited from stable demand for journals and databases, while exhibitions, though a smaller part of the group, provided incremental momentum as global attendance patterns continued to normalize. Across the group, RELX reinforced its long-term trend of converting revenue growth into consistent profit improvement.
The October trading update confirmed the same direction of travel. Management highlighted that momentum remained broadly consistent with first-half trends and that the company expects underlying revenue and profit to grow again for the full year. Cash generation remained resilient, supported by high recurring revenue and disciplined investment. RELX also continued investing in AI-enabled tools across Risk, Science, and Legal, an effort expected to support long-term margin expansion. Together, these trends give the company a stable footing heading into 2026.
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Broader Market Context
RELX competes in markets where digital transformation is no longer optional. Research, corporate compliance, risk management, legal workflows, and large-scale events all depend on structured data, analytics, AI-driven recommendations, and seamless digital access. The company has spent years reshaping its business around these needs, and 2025 reflected the payoff. With over 70 percent recurring revenue and consistently rising digital adoption, RELX has built one of the most defensible business models in global information services.
But the stock’s decline in 2025 shows that markets often look beyond fundamentals. Concerns about sector rotation, valuation, and macro sensitivity have weighed on performance. Yet the company’s operational results show a different picture, one defined by steady execution and structural demand. As investors recalibrate expectations, RELX’s consistency becomes more important. The question for 2026 is whether that consistency can translate back into share price stability.
1. Data and Analytics Keep Driving the Risk Division
Risk Solutions remains one of RELX’s strongest engines. Underlying revenue growth in 2025 was supported by identity verification, fraud detection, and risk analytics products used across financial institutions, insurers, and corporate customers. Demand for these tools remains structurally high as businesses tighten real-time decision systems and respond to more complex fraud patterns.
The October update reinforced that performance remained strong heading into year-end. Management highlighted that risk analytics continues to see robust adoption, particularly in identity and fraud solutions. With digital risk increasing globally, these tools remain critical. As RELX moves toward 2026, the Risk division remains a major contributor to long-term revenue visibility and margin expansion.
2. Science and Legal Benefit from Study Subscription Demand
Science & Medical and Legal delivered consistent growth across 2025. Science benefited from stable demand for its journals and research platforms, which continue to enjoy strong renewal rates. Legal delivered underlying revenue growth tied to deeper adoption of workflow and analytics tools as law firms and corporate departments modernize their systems.
Both businesses also highlight the advantage of RELX’s recurring revenue model. Subscription and database products drive predictable performance and provide a cushion during economic volatility. The long-term shift toward digital workflows and research infrastructure supports steady growth for 2026. RELX’s pace of innovation in these divisions, particularly around AI-enabled search and decision tools, helps strengthen customer retention and premium pricing.
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3. Exhibitions Continue Its Recovery Path
Exhibitions are the most cyclical part of RELX, but the division delivered year-on-year underlying growth in 2025. The normalization of global event attendance and venue activity helped support this improvement. The October update reaffirmed that the division remains on a stable growth path, even as macro conditions remain mixed.
Heading into 2026, Exhibitions will not drive the overall investment case for RELX, but they should provide incremental support as global travel and large-event activity continue to rebound. The segment’s recovery also removes one of the lingering headwinds the company faced during the post-pandemic transition.
The TIKR Takeaway
TIKR highlights what markets sometimes overlook: RELX is still delivering steady underlying growth across every division, rising operating profit, and consistent cash generation. With TIKR, you can compare segment trends, track digital adoption, and monitor year-over-year shifts in profitability to see how stable the company’s fundamentals have remained. For long-term investors, TIKR shows a business that continues to grow through recurring revenue and analytics-driven solutions.
Should You Buy, Sell, or Hold RELX Stock in 2025?
RELX enters 2026 with stable revenue growth, strong recurring income, and consistent profitability across all business lines. Investors seeking structural resilience may find value in the company’s recurring demand and steady margins. Others may prefer to wait for a clearer shift in sentiment or for share price momentum to stabilize. The setup for 2026 depends on execution and continued digital adoption across its key markets.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
