Filing Flows › Relx (RELX) › H2 2025 › vs H1 2025
Relx (RELX) H2 2025 vs H1 2025 (quarter over quarter)
Relx's revenue rose $108M (+2%) from $4.7B in H1 2025 to $4.8B in H2 2025. Gross margin 66.3% against 66.3% (+0.1 pts).
Relx, H2 2025: revenue $4.8B, operating margin 31.7%, net earnings $1.1B, operating cash flow $978M. The chart draws each line against H1 2025, the increases inside each band.
Margins
| H2 2025 | H1 2025 | Change | |
|---|---|---|---|
| Gross margin | 66.3% | 66.3% | +0.1 pts |
| Operating margin | 31.7% | 31.4% | +0.3 pts |
| Net margin | 22.5% | 20.6% | +1.9 pts |
| Free cash flow margin | 20.0% | 38.9% | -19.0 pts |
Every line
| Line | H2 2025 | H1 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $4.8B | $4.7B | $108M | +2% |
| Gross profit | $3.2B | $3.1B | $75.0M | +2% |
| Cost of revenue | $1.6B | $1.6B | $33.0M | +2% |
| Operating profit | $1.5B | $1.5B | $47.0M | +3% |
| Operating expenses | $1.7B | $1.7B | $28.0M | +2% |
| Pre-tax earnings | $1.5B | $1.3B | $184M | +14% |
| Other expense, net | $70.0M | $207M | −$137M | -66% |
| Net earnings | $1.1B | $976M | $113M | +12% |
| Minority interests | $10.0M | $3.0M | $7.0M | +233% |
| Income tax | $368M | $304M | $64.0M | +21% |
| Working capital & other | $111M | −$882M | $993M | — |
| Operating cash flow | $978M | $1.9B | −$880M | -47% |
| Free cash flow (OCF − capex) | $969M | $1.8B | −$877M | -48% |
| Capital expenditures | $9.0M | $12.0M | −$3.0M | -25% |
Questions
How much did Relx's revenue grow quarter over quarter in H2 2025?
Relx's revenue rose $108M (+2%) from $4.7B in H1 2025 to $4.8B in H2 2025. Gross margin 66.3% against 66.3% (+0.1 pts).