RELX Plc ADR (RELX) is slightly overvalued and UL Solutions Inc (ULS) is overvalued.
Both trade above our estimate of their intrinsic value. RELX is the closer of the two: -8%, against -56% for ULS.
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 8.6% (average of 3 methods) values the shares at $42.69; the price of $66.65 is 56% above that value, and 77% of that value comes from beyond year five.
Leak Score 59/100 on 3 of 12 signals
| Metric | RELX | ULS |
|---|---|---|
| Verdict | Slightly overvalued | Overvalued |
| Price | $32.98 | $66.65 |
| Intrinsic value | $30.61 | $42.69 |
| Margin of safety | -8% | -56% |
| Leak Score | 59/100 (3/12) | 59/100 (3/12) |
| Market cap | $57.4B | $13.5B |
| Revenue growth, 5 years | 6.8% | 5.8% |
| Operating margin | 32.1% | 19.0% |
| Net margin | 23.3% | 16.0% |
| Return on equity | 131.1% | 37.5% |
| Debt to equity | 7.19 | 0.30 |
| P/E | 19.7x | 26.9x |
| Forward P/E | 15.7x | 25.7x |
| P/B | 35.1x | 8.4x |
| Dividend yield | 3.0% | 0.9% |