What happened with RELX today?
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RELX’s largest business helps companies and government agencies assess risk. It combines public records and industry data with software to support work such as detecting fraud, checking identities and making insurance decisions. Scientific and medical information is its next-largest business, followed by legal information and tools. Together, these businesses generate most of its revenue.
Customers pay for access to information and tools delivered mainly online. Subscriptions provide slightly more revenue than transactional sales. Researchers use tools such as Scopus AI to work with scientific information, while law firms and corporate legal teams use Lexis+ AI and Protégé for legal research and related work. Scientific publishing earns from both paid access to journals and fees to publish open-access research. RELX also runs exhibitions where businesses find suppliers, meet potential customers and transact; these events form a smaller, distinct revenue stream.
The information businesses depend on access to usable source material. Some rely heavily on personal data from public records and other suppliers. Privacy laws and other regulatory restrictions can limit what RELX may collect, use or provide to customers, and suppliers can stop providing data. In scientific publishing, the integrity of the research it publishes is central to the business.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
Thomson Reuters competes with RELX for subscriptions from legal professionals and corporate legal departments, selling legal information, research and AI tools that help them do their work. Watch adoption of its legal AI tools alongside RELX’s Lexis+ AI and Protégé, whose adoption drove double-digit growth in Law Firms & Corporate Legal in 2025.
Verisk competes with RELX for insurers’ spending on proprietary and insurer-contributed data, fraud detection and tools for risk decisions throughout the insurance lifecycle. Verisk’s subscriptions and long-term agreements, mainly serving property and casualty insurers, offer a comparison for adoption of RELX’s insurance databases and analytics.
Moody’s competes with RELX through Moody’s Analytics, selling business intelligence and tools that help banking, insurance and financial-crime compliance customers make risk decisions. Its subscriptions for checking and understanding customers—known as KYC—are the business to watch alongside RELX’s Financial Crime Compliance tools, rather than Moody’s credit ratings.
Equifax competes with RELX for business and government customers buying data-based tools to assess risk, check identities and make decisions.
S&P Global competes with RELX for industry customers buying energy and commodity data and analytics. Watch its Energy business for a comparison with RELX’s Commodity Intelligence offerings, which led growth in Specialised Industry Data Services.
Riskified Ltd. competes with RELX’s digital fraud and identity tools for businesses protecting online transactions, selling merchants tools that approve or decline orders in real time. Its Chargeback Guarantee product covers fraud costs on approved orders that result in eligible chargebacks; watch its approval rates and fraud costs as concrete measures of its offering against RELX’s fraud tools.
Moody's Corporation earningsMCO
Moody’s report will show how financial institutions are spending on customer-checking tools, a market where its products compete with RELX’s Financial Crime Compliance tools.
Watch subscriptions for Moody’s Analytics tools that help customers understand who they do business with (KYC). Resilient subscriptions would show that financial institutions still pay for this kind of risk-checking, supporting demand in a market RELX also serves. Weakness would signal pressure on that spending and a tougher market for RELX’s Financial Crime Compliance tools.
S&P Global Inc. earningsSPGI
S&P Global’s Energy business will show whether industry customers are still buying energy and commodity data and analytics, where it competes with RELX’s Commodity Intelligence offerings.
Look at demand and growth in S&P Global’s Energy business. Strength would show that industry customers continue paying for energy and commodity information, supporting the market for RELX’s Commodity Intelligence offerings. Weakness would point to tighter customer spending and a cooler market for that RELX business.
Thomson Reuters Corporation earningsTRI
Thomson Reuters’ report will show whether legal professionals and corporate legal teams are adopting AI tools in the same market as RELX’s legal research and analytics products.
Read adoption of Thomson Reuters’ legal AI tools alongside subscriptions in its legal business. Rising adoption with resilient subscriptions would show that customers are putting AI tools into their work and paying for them, supporting the market for RELX’s Lexis+ AI and Protégé. Limited adoption or weaker subscriptions would suggest that interest is not translating into paid use.
Verisk Analytics, Inc. earningsVRSK
Verisk’s report will show whether property and casualty insurers keep buying data and risk tools, a customer market it shares with RELX’s insurance databases and analytics.
Watch Verisk’s subscription and long-term agreement performance, especially in its business serving property and casualty insurers. Resilient subscriptions would show that insurers keep paying for data and risk tools, supporting the market for RELX’s insurance databases and analytics. Weakness would signal pressure on insurer spending.
Riskified Ltd. earningsRSKD
Riskified’s report will show whether merchants can approve more online orders without higher fraud costs, in a market where it competes with RELX’s digital fraud tools.
Compare Riskified’s order approval rates with eligible chargeback costs on approved orders. Higher approval with costs contained would show that merchants can accept more orders without taking on more fraud losses, supporting the value proposition in the market RELX’s digital fraud tools serve. Flat approval or rising costs would point to a worse trade-off for merchants.
