REL

Relx (REL)

Company name:	Relx Plc
Company Description:	The aim is to deliver improved outcomes for professional and business customers across industries, to help them make better decisions, get better results and be more productive.
COD:	REL	Trading Currency:	GBX
Market Sector:	FE10	ISIN:	GB00B2B0DG97
Market Segment:	SET1	Share Type:	DE
WWW Address:	http://www.relx.com/investorcentre/pages/home.aspx	Description:	ORD 14 51/116P
Industry Sector:	MEDIA

Price	Variação [%]	Bid	Offer	Abertura	MAX	MIN	Volume
1,867.00	-2.5 [-0.13]	1,865.00	1,866.50	1,860.50	1,875.50	1,852.50	1,849,793
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52 Semanas
36,074.39	1,932.21	0.22	77.40	45.70	24.12	2.45	2,109.00 - 1,393.50

Relx Key Figures

Key Figures
(at previous day's close)
Market Cap.	36,074.39	m
Shares In Issue	1,932.21	m
Prev. Close	1,869.50
PE Ratio	24.12
Dividend Yield	2.45	%
EPS - basic	77.40	p
Dividend PS	45.70	p
Dividend Cover	1.69
Cash Flow PS	108.11	p
Return On Equity (ROE)	69.48	%
Operating Margin	23.46	%
PEG Factor	3.15
EPS Growth Rate	7.65	%
Dividends PS Growth Rate	8.55	%
Dívida Líquida	11,461.00	m
Gross Gearing	84.12	%
Quick Assets	2,608.00	m
Net Working Capital	-3,122.00	m
Intangibles / Fixed Assets	93.72	%
Turnover PS	407.51	p
Pre-Tax Profit PS	95.59	p
Retained Profit PS	34.31	p
Cash PS	7.14	p
Net Cash PS	-300.64	p
Net Tangible Asset Value PS *	-419.73	p
Net Asset Value PS	113.34	p
Spread	1.50 (0.08%)
* Calculation based on Ordinary Capital figure as contained in last annual report, and the most recent shares in issue figure. Therefore the ratio might be exposed to inaccuracies.

Relx Balance Sheet

%1$s Balance Sheet

Share Price Performance

Share Price Performance
Sample Period ^†	MAX	MIN
1 Semana	1,876.50	1,809.00
4 Semanas	1,932.50	1,771.00
12 Semanas	1,932.50	1,521.50
1 Ano	2,109.00	1,393.50

Share Price Chart (5 years)

Relx Historic Returns

%1$s Historic Returns
Período ^†	Abertura	VAB	%	Abertura Média	Vol Diário Médio [m]	Volume [m]	VWAP
1 Semana	1,826.50	40.50	2.22	1,809.00	2.61		1,833.64
4 Semanas	1,824.50	42.50	2.33	1,771.00	2.54		1,844.25
12 Semanas	1,528.00	339.00	22.19	1,521.50	3.38		1,777.22
26 Semanas	1,673.00	194.00	11.60	1,505.00	3.28		1,735.48
1 Ano	2,026.00	-159.00	-7.85	1,393.50	3.97		1,775.70
3 Anos	1,574.00	293.00	18.61	1,393.50	4.19		1,719.51
5 Anos	1,195.00	672.00	56.23	1,119.00	3.72		1,641.64
† periods calculated are whole weeks rather than calendar months

Relx Key Management Ratios

DEEPER ANALYSIS

Relx Investment Ratios

%1$s Investment Ratios
(Market value analysis) at previous day's close
PQ Ratio	145.56
PE Ratio	24.12
Tobin's Q Ratio	2.60
Tobin's Q Ratio (excl. intangibles)	10.19
Dividend Yield	2.45	%
Market-to-Book Ratio	16.65
Price-to-Pre-Tax Profit PS	19.53
Price-to-Retained Profit PS	54.41
Price-to-Cash Flow PS	17.27
Price-to-Sales PS	4.58
Price-to-Net Tangible Asset Value PS	-4.46
Price-to-Cash PS	261.41
Net Working Capital PS	-161.58
Price Pct to Working Capital PS	-11.55	%
Earnings Yield	4.15	%
Average PE	23.94
Years in average	5
PE to PE average	100.76	%

Relx Financial Ratios

%1$s Financial Ratios
(Leverage Ratios)
Debt Ratio	72.07	%
Debt-to-Equity Ratio	2.58
Debt-to-Equity Ratio (excl. Intgbl)	-0.70
Debt-to-Equity Market Value	0.16
Net Gearing	83.12	%
Net Gearing (excl. Intangibles)	326.25	%
Gross Gearing	84.12	%
Gross Gearing (excl. Intangibles)	330.17	%
Gearing Under 1 Year	43.13	%
Gearing Under 1 Year (excl. Intgbl)	169.29	%
Assets/Equity	6.30
Cash/Equity	6.30
(Liquidity Ratios)
Net Working Capital to Total Assets	-22.64	%
Current Ratio	0.48
Quick Ratio (Acid Test)	0.44
Liquidity Ratio	0.02
Cash & Equiv/Current Assets	4.88	%
(Solvency Ratios)
Enterprise Value	41,612.39	m
CFO/Sales	0.27
CFO/Attributable Profit	1.39
CFO/Assets	0.15
CFO/Debt	0.18
Total Debt/Equity Market Value	0.32
Total Debt/Sales	1.47
Total Debt/Pre-Tax Profit	6.28
Total Debt	11,599.00	m
Total Debt/Net Current Assets	-3.72	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	-	%
5 yr Compound Earnings Growth	10.78	%
10 yr Compound Earnings Growth	10.98	%
Earn drops > 5% in 10yrs	7

Beta coefficients
Beta (60-Mnth)	Beta (36-Mnth)
0.2189	0.0283

Relx Operating Ratios

%1$s Operating Ratios
(Profitability Ratios)
Return On Capital Employed (ROCE)	23.55	%
Return On Assets (ROA)	10.83	%
Net Profit Margin	19.11	%
Assets Turnover	0.57
Return On Equity (ROE)	69.48	%
Return On Investment (ROI)	18.22	%
Dividend Payout Ratio	59.04	%
Plowback Ratio	40.96	%
Growth from Plowback Ratio	27.43	%
Net Income Of Revenues	8.42	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	3.50
Fixed Assets Turnover	0.71
Current Assets Turnover	2.80
Net Working Capital Turnover
Inventory Turnover	36.71
(Other Operating Ratios)
Total Assets-to-Sales	1.76
Debtors-to-Sales	31.37	%
Debt Collection Period	114.50	Dias

Relx Dividends

%1$s Dividends
Data	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
13 Fev 2020	Final	GBX	32.10	31/12/2018	31/12/2019	24/04/2020	27/04/2020	28/05/2020	45.70
25 Jul 2019	Interim	GBX	13.60	31/12/2018	31/12/2019	01/08/2019	02/08/2019	02/09/2019	-
21 Fev 2019	Final	GBX	29.70	31/12/2017	31/12/2018	02/05/2019	03/05/2019	04/06/2019	42.10
26 Jul 2018	Interim	GBX	12.40	31/12/2017	31/12/2018	02/08/2018	03/08/2018	24/08/2018	-
15 Fev 2018	Final	GBX	27.70	31/12/2016	31/12/2017	26/04/2018	27/04/2018	22/05/2018	39.40
27 Jul 2017	Interim	GBX	11.70	31/12/2016	31/12/2017	03/08/2017	04/08/2017	25/08/2017	-
23 Fev 2017	Final	GBX	25.70	31/12/2015	31/12/2016	27/04/2017	28/04/2017	22/05/2017	35.95
28 Jul 2016	Interim	GBX	10.25	31/12/2015	31/12/2016	04/08/2016	05/08/2016	26/08/2016	-
25 Fev 2016	Final	GBX	22.30	31/12/2014	31/12/2015	28/04/2016	29/04/2016	20/05/2016	29.70
23 Jul 2015	Interim	GBX	7.40	31/12/2014	31/12/2015	06/08/2015	07/08/2015	28/08/2015	-
26 Fev 2015	Final	GBX	19.00	31/12/2013	31/12/2014	30/04/2015	01/05/2015	22/05/2015	26.00
24 Jul 2014	Interim	GBX	7.00	31/12/2013	31/12/2014	06/08/2014	08/08/2014	28/08/2014	-
27 Fev 2014	Final	GBX	17.95	31/12/2012	31/12/2013	30/04/2014	02/05/2014	23/05/2014	24.60
25 Jul 2013	Interim	GBX	6.65	31/12/2012	31/12/2013	07/08/2013	09/08/2013	29/08/2013	-
28 Fev 2013	Final	GBX	17.00	31/12/2011	31/12/2012	01/05/2013	03/05/2013	23/05/2013	23.00
26 Jul 2012	Interim	GBX	6.00	31/12/2011	31/12/2012	08/08/2012	10/08/2012	31/08/2012	-
16 Fev 2012	Final	GBX	15.90	31/12/2010	31/12/2011	25/04/2012	27/04/2012	21/05/2012	21.55
28 Jul 2011	Interim	GBX	5.65	31/12/2010	31/12/2011	03/08/2011	05/08/2011	26/08/2011	-
17 Fev 2011	Final	GBX	15.00	31/12/2009	31/12/2010	20/04/2011	26/04/2011	17/05/2011	20.40
29 Jul 2010	Interim	GBX	5.40	31/12/2009	31/12/2010	04/08/2010	06/08/2010	27/08/2010	-
18 Fev 2010	Final	GBX	15.00	31/12/2008	31/12/2009	28/04/2010	30/04/2010	21/05/2010	20.40
30 Jul 2009	Interim	GBX	5.40	31/12/2008	31/12/2009	05/08/2009	07/08/2009	28/08/2009	-
19 Fev 2009	Final	GBX	15.00	31/12/2007	31/12/2008	22/04/2009	24/04/2009	22/05/2009	20.30
31 Jul 2008	Interim	GBX	5.30	31/12/2007	31/12/2008	06/08/2008	08/08/2008	29/08/2008	-
01 Abr 2008	Final	GBX	13.60	31/12/2006	31/12/2007	30/04/2008	02/05/2008	30/05/2008	18.10
26 Jul 2007	Interim	GBX	4.50	01/07/2007	31/12/2007	01/08/2007	03/08/2007	24/08/2007	-
13 Fev 2007	Final	GBX	11.80	31/12/2005	31/12/2006	18/04/2007	20/04/2007	11/05/2007	15.90
27 Jul 2006	Interim	GBX	4.10	30/12/2005	30/06/2006	02/08/2006	04/08/2006	25/08/2006	-
16 Fev 2006	Final	GBX	10.70	31/12/2004	31/12/2005	19/04/2006	21/04/2006	12/05/2006	14.40
28 Jul 2005	Interim	GBX	3.70	30/12/2004	30/06/2005	03/08/2005	05/08/2005	02/09/2005	-
17 Fev 2005	Final	GBX	9.60	31/12/2003	31/12/2004	27/04/2005	29/04/2005	20/05/2005	13.00
05 Ago 2004	Interim	GBX	3.40	30/12/2003	30/06/2004	11/08/2004	13/08/2004	13/09/2004	-
19 Fev 2004	Final	GBX	8.70	31/12/2002	31/12/2003	28/04/2004	30/04/2004	31/05/2004	12.00
07 Ago 2003	Interim	GBX	3.30	30/12/2002	30/06/2003	13/08/2003	15/08/2003	05/09/2003	-
20 Fev 2003	Final	GBX	8.00	31/12/2001	31/12/2002	09/04/2003	11/04/2003	02/05/2003	11.20
08 Ago 2002	Interim	GBX	3.20	30/06/2001	30/06/2002	14/08/2002	16/08/2002	09/09/2002	-
21 Fev 2002	Final	GBX	7.40	31/12/2000	31/12/2001	10/04/2002	12/04/2002	13/05/2002	10.50
09 Ago 2001	Interim	GBX	3.10	30/12/2000	30/06/2001	15/08/2001	17/08/2001	10/09/2001	-
22 Fev 2001	Final	GBX	6.90	31/12/1999	31/12/2000	18/04/2001	20/04/2001	14/05/2001	10.00
09 Ago 2000	Interim	GBX	3.10	30/12/1999	30/06/2000	21/08/2000	25/08/2000	18/09/2000	-
24 Fev 2000	Final	GBX	5.40	31/12/1998	31/12/1999	02/05/2000	08/05/2000	22/05/2000	10.00
05 Ago 1999	Interim	GBX	4.60	30/12/1998	30/06/1999	16/08/1999	20/08/1999	01/10/1999	-
11 Mar 1999	Final	GBX	10.40	31/12/1997	31/12/1998	19/04/1999	23/04/1999	21/05/1999	15.00
06 Ago 1998	Interim	GBX	4.60	30/12/1997	30/06/1998	17/08/1998	21/08/1998	05/10/1998	-
12 Mar 1998	Final	GBX	10.20	31/12/1996	31/12/1997	23/03/1998	27/03/1998	01/05/1998	14.60

Relx Fundamentals

Profit and Loss Account
	31 Dez 2016 (GBP)		31 Dez 2017 (GBP)		31 Dez 2018 (GBP)		31 Dez 2019 (GBP)
turnover	6,895.00	100.00%	7,355.00	100.00%	7,492.00	100.00%	7,874.00	100.00%	m
pre tax profit	1,473.00	21.36%	1,734.00	23.58%	1,720.00	22.96%	1,847.00	23.46%	m
attributable profit	1,161.00	16.84%	1,659.00	22.56%	1,422.00	18.98%	1,505.00	19.11%	m
retained profit	478.00	6.93%	897.00	12.20%	626.00	8.36%	663.00	8.42%	m
eps - basic (p)	56.30		82.20		71.90		77.40
eps - diluted (p)	55.80		81.50		71.40		76.90
dividends per share	35.95		39.40		42.10		45.70

Relx Balance Sheet

Balance Sheet
	31 Dez 2016 (GBP)		31 Dez 2017 (GBP)		31 Dez 2018 (GBP)		31 Dez 2019 (GBP)


	31 Dez 2016 (GBP)		31 Dez 2017 (GBP)		31 Dez 2018 (GBP)		31 Dez 2019 (GBP)
ASSETS
fixed assets	242.00	1.82%	209.00	1.70%	198.00	1.41%	180.00	1.31%	m
intangibles	9,996.00	75.03%	9,159.00	74.57%	10,433.00	74.53%	10,276.00	74.52%	m
fixed investments	308.00	2.31%	380.00	3.09%	571.00	4.08%	508.00	3.68%	m
current assets - other	6.00	0.05%	-	-%	1.00	0.01%	-	-%	m
stocks	209.00	1.57%	197.00	1.60%	212.00	1.51%	217.00	1.57%	m
debtors	2,400.00	18.01%	2,227.00	18.13%	2,470.00	17.64%	2,470.00	17.91%	m
cash & securities	162.00	1.22%	111.00	0.90%	114.00	0.81%	138.00	1.00%	m

TOTAL	13,323.00	100%	12,283.00	100%	13,999.00	100%	13,789.00	100%	m

LIABILITIES
creditors - short	5,304.00	39.81%	4,526.00	36.85%	5,321.00	38.01%	5,947.00	43.13%	m
creditors - long	5,656.00	42.45%	5,383.00	43.82%	6,315.00	45.11%	5,652.00	40.99%	m
creditors - other	5.00	0.04%	-	-%	4.00	0.03%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	10,965.00	82.30%	9,909.00	80.67%	11,640.00	83.15%	11,599.00	84.12%	m

EQUITY
ord cap, reserves	2,320.00	17.41%	2,353.00	19.16%	2,329.00	16.64%	2,166.00	15.71%	m
prefs, minorities	38.00	0.29%	21.00	0.17%	30.00	0.21%	24.00	0.17%	m

TOTAL	2,358.00	17.70%	2,374.00	19.33%	2,359.00	16.85%	2,190.00	15.88%	m

OTHER
NAV Basic	-		-		-		-
NAV Diluted	-		-		-		-

Relx Cash Flow Statement

%1$s Cash Flow Statement
	31 Dez 2016 (GBP)	31 Dez 2017 (GBP)	31 Dez 2018 (GBP)	31 Dez 2019 (GBP)
Operating CF	1,682.00	1,848.00	1,985.00	2,089.00	m
Pre-Financing CF	1,014.00	1,426.00	714.00	1,356.00	m
Retained CF	9.00	-45.00	1.00	27.00	m

Relx Brokers

%1$s Brokers
Name	Activity	Type	Mnemonic	Code
Evolution Securities Limited	Market Maker(MME)	Broker/Dealer	EVO	EVBGGB21MMT
Winterflood Securities Ltd	Market Maker(MME)	Broker/Dealer	WINS	WNTSGB2LBIC