RELX vs ULS: Relx PLC ADR and UL Solutions compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Relx PLC ADR is the larger company, worth $67.1B, about 4.7 times UL Solutions.
- UL Solutions grew revenue faster over the last year (+5.2% vs +1.6%).
- Relx PLC ADR keeps more of each dollar of revenue as operating profit (31.6% vs 17.9%).
- On earnings, Relx PLC ADR is the cheaper stock (25.1x vs 40.8x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | RELX | ULS |
|---|---|---|
| Market cap | $67.1B | $14.1B |
| Share price | $36.13 | $69.99 |
| Revenue (last fiscal year) | $9.6B | $3.1B |
| Free cash flow (last fiscal year) | $2.8B | $403M |
| Revenue growth, last year | +1.6% | +5.2% |
| Revenue growth per year, last 5 fiscal years | +7.3% | +6.6% |
| Operating margin | 31.6% | 17.9% |
| Net margin | 21.5% | 16.1% |
| Return on equity | 87.3% | 31.7% |
| P/E (trailing) | 25.1x | 40.8x |
| Price / free cash flow | 24.0x | 35.1x |
| EV / EBITDA | 13.8x | 15.3x |
| FCF growth the price implies | — | 12.3% |
| Dividend yield | 1.8% | 0.76% |
| Debt / equity | 5.23x | 0.94x |
| Fundamental grade | C | C |
| Superinvestors holding it | 3 | 3 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Relx PLC ADR
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $7.2B | $2.0B | 26.0% |
| 2022 | $8.6B | $2.4B | 27.2% |
| 2023 | $9.2B | $2.4B | 29.3% |
| 2024 | $9.4B | $2.6B | 30.3% |
| 2025 | $9.6B | $2.8B | 31.6% |
UL Solutions
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $2.5B | $208M | 16.3% |
| 2023 | $2.7B | $252M | 13.7% |
| 2024 | $2.9B | $287M | 16.1% |
| 2025 | $3.1B | $403M | 17.1% |
Where the revenue comes from
Relx PLC ADR · by segments, 2025
Risk$3.5B36%
Scientific, Technical & Medical$2.7B28%
Legal$1.8B19%
Exhibitions$1.2B12%
Print & print-related activities$399M4%
UL Solutions · by segments, 2025
Industrial$1.3B44%
Consumer$1.3B43%
Software and Advisory$393M13%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open RELX in InvestinglyQuestions
Which is bigger, Relx PLC ADR or UL Solutions?
Relx PLC ADR (RELX), at $67.1B against $14.1B.
Is RELX or ULS cheaper?
By trailing P/E, Relx PLC ADR (25.1x) is cheaper than UL Solutions (40.8x). A lower multiple can also mean the market expects less growth.
Which grows faster, RELX or ULS?
UL Solutions: revenue grew +5.2% over the last year, against +1.6%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.