RELX Plc ADR (RELX) is slightly overvalued and Rentokil Initial Plc ADR (RTO) is slightly undervalued.
Against our estimates of intrinsic value, RTO trades at the wider discount: a margin of safety of +19%, against -8% for RELX.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.4% (average of 3 methods) values the shares at $30.61; the price of $32.98 is 8% above that value, and 78% of that value comes from beyond year five.
Leak Score 59/100 on 3 of 12 signals
Discounting its cash flows at 8.3% (average of 3 methods) values the shares at $26.50; the price of $21.37 is 19% below that value, and 79% of that value comes from beyond year five.
Leak Score 35/100 on 3 of 12 signals
| Metric | RELX | RTO |
|---|---|---|
| Verdict | Slightly overvalued | Slightly undervalued |
| Price | $32.98 | $21.37 |
| Intrinsic value | $30.61 | $26.50 |
| Margin of safety | -8% | +19% |
| Leak Score | 59/100 (3/12) | 35/100 (3/12) |
| Market cap | $57.4B | $10.7B |
| Revenue growth, 5 years | 6.8% | 14.1% |
| Operating margin | 32.1% | 13.9% |
| Net margin | 23.3% | 6.7% |
| Return on equity | 131.1% | 6.0% |
| Debt to equity | 7.19 | 1.10 |
| P/E | 19.7x | 22.7x |
| Forward P/E | 15.7x | 13.8x |
| P/B | 35.1x | 1.9x |
| Dividend yield | 3.0% | 3.0% |