London, June 13, 2026, 18:02 BST
- RELX picked up 1.22% to 2,492p on Friday, trailing the FTSE 100’s 1.63% rise.
- The stock is still well under its 4,030p high for the year, with investors sticking to concerns around valuation and risks from AI disruption.
- July 23 half-year results are the next major catalyst.
RELX PLC shares finished the week with a small bounce, up 30p, or 1.22%, to 2,492p on Friday. The FTSE 100 closed higher by 1.63% at 10,471.72. That rise for RELX came after two sessions of lagging the market, including a 3.38% drop on Thursday to £24.62, according to recent market data. Some buyers stepped back in after the stock was hit by a sharp de-rating, but RELX did not keep pace with the FTSE 100 on this risk-on day for London stocks.
The stock remains well under its 4,030p year high. AJ Bell shows RELX with a market cap of about £43.84 billion, a dividend yield at 2.71%, and a P/E ratio of 22.25. The P/E ratio measures share price against annual earnings per share. Typically, a higher P/E means investors are betting on longer-term growth, while a sinking P/E can signal market worries over growth. Investors are weighing whether RELX’s selloff has opened up value or if the slide points to AI and growth uncertainty already priced in.
RELX’s capital return plan is a big part of the bull case. The company rolled out a new £200 million non-discretionary buyback starting June 9 through June 26, right after finishing a £150 million buyback on June 8. Both programmes are slices of its £2.25 billion target for its 2026 buyback. In a non-discretionary setup, the broker buys shares using fixed rules instead of RELX placing daily trades. Buybacks cut the share count, which can help lift earnings per share if profits stay steady.
RELX has kept its operational guidance unchanged. In its April trading update, the company said it started the year well in all four business segments and still sees strong underlying growth ahead for revenue and adjusted operating profit. Underlying growth removes factors like currency, deals, and timing, to show the core performance. RELX said analytics, decision tools and AI-powered products are driving growth in Risk, STM, Legal and Exhibitions.
RELX’s premium model is under closer scrutiny, as investors look at how generative AI could challenge its legal research, scientific publishing, and data analytics businesses. The worry has hit software and info-services stocks, and Reuters said concerns about AI spending held back gains in London on Thursday, even as financial names pushed the FTSE 100 higher. Investors cutting the multiple can make even a strong company like RELX a tough short-term bet if they keep marking down what they’ll pay for future earnings.
RELX bulls argue the company’s proprietary data, sticky workflows and subscription-style revenues make it less vulnerable to disruption than old-school publishers. For 2025, RELX reported £9.59 billion in revenue, with underlying revenue up 7%. Adjusted operating profit came in at £3.34 billion, and adjusted EPS rose 10% at constant currency. The constant currency metric strips out FX swings. RELX raised the dividend to 67.5p and announced a £2.25 billion buyback for 2026, with management saying this shows their confidence in cash flow.
Next up is the half-year results for the six months to June 30, due July 23. Investors are set to watch if Legal’s AI-driven products, Risk analytics and Science, Technical & Medical units keep up the profit growth ahead of revenue gains. They’re also looking for signs that share buybacks are lifting earnings per share, and for any management updates on AI rivals, customer retention and pricing power.
RELX isn’t at year highs, making the shares more appealing, but it’s not without risk and doesn’t look cheap. The ongoing buyback, rising dividend, and steady guidance are positives for bulls. But the 22x earnings multiple, some lagging performance, and AI concerns mean RELX still sits in the “selectively attractive but risky” camp, not a clear bargain. Investors now look to July half-year results for a better read on whether the market priced AI worries too heavily or has the right call on weaker growth ahead.
