Filing Flows › Relx (RELX) › H2 2025
Relx (RELX) H2 2025 earnings results (H2 2025)
20-F filed Feb 19, 2026
Relx (RELX) reported revenue of $4.8B for the H2 2025 (H2 2025) and +2% from the quarter before. Operating margin was 31.7%, net earnings $1.1B (22.5% of revenue).
Relx, H2 2025: revenue $4.8B, operating margin 31.7%, net earnings $1.1B, operating cash flow $978M. The chart follows the revenue to costs, profit and cash.
| H2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.8B | +2% | — |
| Gross profit | $3.2B | +2% | — |
| Operating profit | $1.5B | +3% | — |
| Net earnings | $1.1B | +12% | — |
| Operating cash flow | $978M | -47% | — |
| Free cash flow | $969M | -48% | — |
What changed
Revenue was £4.8B in H2 2025, up 2% from the previous half.
Gross margin was 66.3%. Operating profit was £1.5B, a 31.7% margin. Net earnings were £1.1B. The effective tax rate was 25.1%.
Operating cash flow was £1.0B, 89% of net earnings. Working capital and other items used £0.12B. Capital expenditures of £0.01B left free cash flow of £1.0B.
Questions
What was Relx's revenue in the H2 2025?
Relx (RELX) reported revenue of $4.8B for the H2 2025 (H2 2025) and +2% from the quarter before.
Was Relx profitable in the H2 2025?
Operating profit was $1.5B (31.7% of revenue) and net earnings $1.1B.
Source: Relx 20-F on SEC EDGAR.