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Morningstar's RELX PLC ADR Stock Analysis

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RELX Well Positioned for Recovery in 2022

Michael Field, CFA Senior Equity Analyst

Business Strategy and Outlook

| Michael Field, CFA |

Over the past decade, RELX has undergone wholesale changes to the structure of the company, taking its exposure to electronic-format businesses from 35% to closer to 90%. This change was achieved primarily through a series of targeted acquisitions and disposals over the years. The company has managed to significantly drive operating margin growth with the improved business mix. Since 2005, operating margins have expanded by close to 50%. This has also been reflected in returns on invested capital, which have increased on an adjusted basis from close to 8% in 2009 to close to 13% in 2021, against a weighted average cost of capital of just 8.3%.

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Key Statistics - RELX

RELX PLC ADR's Company Profile

Business Description

RELX, formerly known as Reed Elsevier, is a FTSE 100 diversified information and analytics company. The firm operates across four main areas: scientific, technical, and medical (37% of 2021 sales); risk (34%); legal (22%); and exhibitions (7%). RELX Group has three listings: its primary one in London and two more in New York and Amsterdam.

1-3 Strand
London, WC2N 5JR, United Kingdom
T +44 2071665500
Industry Publishing
Most Recent Earnings
Fiscal Year End Dec 31, 2022
Stock Type
Employees 33,616