Abstract

Relx PLC will report fourth-quarter results on February 12, 2026 after-market; this preview compiles last quarter performance, current-quarter projections, and recent institutional commentary to frame expectations and segment dynamics.

Market Forecast

Consensus and company projections for the quarter are limited; based on the latest disclosures, revenue is expected to rise modestly year over year, supported by subscription and data-analytics momentum, while margin metrics and adjusted EPS are anticipated to be stable to slightly higher. The main business is expected to deliver steady growth, with subscriptions and data solutions sustaining renewal rates and pricing; Risk & Business Analytics appears the most promising segment, with revenue of $1.75 billion and continued YoY expansion driven by identity, fraud, and compliance use cases.

Last Quarter Review

Relx PLC’s previous quarter posted revenue across segments of $4.79 billion, a gross profit margin of 66.25%, GAAP net profit attributable to the parent company of $0.49 billion, a net profit margin of 20.59%, and adjusted EPS broadly stable year over year. A notable highlight was resilient retention and cross-sell across data and analytics subscriptions, supporting margin consistency despite mixed macro signals. Main business highlights included Risk & Business Analytics revenue of $1.75 billion, Scientific, Technical & Medical revenue of $1.32 billion, Legal revenue of $0.90 billion, Exhibitions revenue of $0.58 billion, and Print-related activities of $0.19 billion, with Risk & Business Analytics sustaining the strongest structural growth among units.

Current Quarter Outlook

Risk & Business Analytics

Risk & Business Analytics remains the central performance lever, with a large installed base and heavy demand for identity resolution, fraud prevention, and compliance workflow solutions. In the quarter ahead, the unit should benefit from ongoing migration of customers to higher-value analytics, the integration of proprietary data with machine-learning models, and sustained pricing power from workflow embedding. Pipeline health appears stable, with renewals tracking well and upsell rooted in risk scoring enhancements across financial institutions, insurance carriers, and public sector clients. Key variables to watch include implementation timelines for new modules and the pace at which clients absorb expanded datasets, which influences revenue recognition and short-term growth trajectory.

Scientific, Technical & Medical

Scientific, Technical & Medical is expected to remain steady, anchored by subscriptions and publication activity, with digital platforms ensuring consistent usage and renewals. The segment’s revenue mix continues to favor higher-margin digital content and workflow tools, reducing volatility tied to print and conference cycles. In the quarter, stable institutional funding and the normalization of publication volumes should aid modest growth, while continued enhancements to search, discovery, and analytics functionality aim to defend retention rates and provide measured pricing support. Risks to near-term momentum include potential variability in article processing charges and timing of large institutional contract renewals that could shift recognition between months.

Legal

Legal performance should be underpinned by demand for legal research, workflow optimization, and compliance solutions, with particular emphasis on analytics that reduce research time and improve matter management. The transition from legacy print to integrated digital platforms continues, supporting margins and stabilizing revenue. New feature rollouts in search, citation, and drafting tools can unlock incremental value for enterprise clients, contributing to upsell and cross-sell opportunities in line with broader data strategy. Watch for enterprise budget cycles that may affect procurement timing, and for competitive dynamics in legal-tech solutions where innovation cadence can influence share shifts.

Exhibitions

Exhibitions revenue and mix are expected to reflect seasonality and event calendars, with continuing progress in attendance and exhibitor participation compared with earlier periods. Monetization improvements from data-driven matchmaking, lead-generation tools, and tiered sponsorship packages have supported revenue quality, though quarter-to-quarter variability remains inherent to event timing. While the segment is less margin-accretive than subscriptions, operational execution on event clustering and geographic expansion can lift profitability. Contingent risks include any shifts in travel or corporate event budgets, but recent trends suggest stable demand for in-person networking supported by integrated digital services.

Stock Price Drivers This Quarter

Stock performance will hinge on the quality of recurring revenue, margin resilience, and visibility into pricing and renewal trends across core subscriptions and analytics. Investors will parse commentary on data-model enhancement, workflow embedding, and upsell momentum in Risk & Business Analytics for evidence of sustained double-digit progress. Any update on capital allocation, including disciplined M&A for data assets and analytics capabilities, may influence valuation by signaling the pace of platform expansion. Finally, guidance cadence around adjusted EPS and gross margin will be scrutinized for consistency and conservatism relative to the macro environment.

Analyst Opinions

The prevailing institutional stance remains cautiously positive, with more bullish than bearish views based on recent commentary around recurring revenue durability and analytics-driven upsell. Well-followed research desks highlight the defensiveness of subscription-led models and the continued monetization of proprietary datasets, pointing to a manageable set of execution risks primarily around timing of upgrades and event calendars. Forecasts emphasize steady revenue growth with stable margins, contingent on Retention and price realization within core data products; analysts generally see Risk & Business Analytics as the near-term performance anchor, with Scientific, Technical & Medical providing a balancing steady-state. The majority view expects the quarter to meet or slightly exceed consensus on revenue and adjusted EPS, supported by renewal health and incremental pricing actions, while guidance is anticipated to be prudently framed to reflect implementation timing and macro sensitivity.