Filing Flows › Relx (RELX) › H1 2026 › vs H2 2025
Relx (RELX) H1 2026 vs H2 2025 (quarter over quarter)
Relx's revenue rose $22.0M (+0.5%) from $4.8B in H2 2025 to $4.9B in H1 2026. Gross margin 66.5% against 66.3% (+0.2 pts).
Relx, H1 2026: revenue $4.9B (+3% year over year), operating margin 32.5%, net earnings $1.2B, operating cash flow $2.0B. The chart draws each line against H2 2025, the increases inside each band.
Margins
| H1 2026 | H2 2025 | Change | |
|---|---|---|---|
| Gross margin | 66.5% | 66.3% | +0.2 pts |
| Operating margin | 32.5% | 31.7% | +0.8 pts |
| Net margin | 24.1% | 22.5% | +1.6 pts |
| Free cash flow margin | 40.1% | 20.0% | +20.2 pts |
Every line
| Line | H1 2026 | H2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $4.9B | $4.8B | $22.0M | +0.5% |
| Gross profit | $3.2B | $3.2B | $24.0M | +0.7% |
| Cost of revenue | $1.6B | $1.6B | −$2.0M | -0.1% |
| Operating profit | $1.6B | $1.5B | $48.0M | +3% |
| Operating expenses | $1.7B | $1.7B | −$24.0M | -1% |
| Pre-tax earnings | $1.5B | $1.5B | $56.0M | +4% |
| Other expense, net | $62.0M | $70.0M | −$8.0M | -11% |
| Net earnings | $1.2B | $1.1B | $84.0M | +8% |
| Minority interests | $2.0M | $10.0M | −$8.0M | -80% |
| Income tax | $348M | $368M | −$20.0M | -5% |
| Working capital & other | $794M | −$111M | $905M | — |
| Operating cash flow | $2.0B | $978M | $989M | +101% |
| Free cash flow (OCF − capex) | $2.0B | $969M | $986M | +102% |
| Capital expenditures | $12.0M | $9.0M | $3.0M | +33% |
Questions
How much did Relx's revenue grow quarter over quarter in H1 2026?
Relx's revenue rose $22.0M (+0.5%) from $4.8B in H2 2025 to $4.9B in H1 2026. Gross margin 66.5% against 66.3% (+0.2 pts).