RLX Technology
RLX
1.73
+0.03
+1.76%
RLX Technology
US · RLX
#2740 by market cap
Listed 2021
1.73
+0.03
+1.76%
Live - 5344 symbols - heartbeat 31s ago
· 2026-10-08 08:24
Pre-market
1.74
+0.56%
After-hours
1.73
+0.06%
- Market cap
- 2.11B
- P/E (TTM)i
- 15.59
- P/Bi
- 0.91
- EPSi
- 0.10
- Div yieldi
- 6.53%
- 52W posi
- 10%
Reader sentiment
Are you bullish or bearish on RLX?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Weak
- Altman Z-Score is 1.80, below the 1.8 "distress zone" threshold.
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 8 years
Latest year +44.03% YoY
Margins
- Gross margin
- 32.72%
- Operating margin
- 9.08%
- Net margin
- 25.49%
Key ratios & quality
- Altman Z-Scorei
- 1.80
Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 132.61M | 1.55B | 3.82B | 8.52B | 5.33B | 1.59B | 2.75B | 3.96B |
| Gross profit | 59.25M | 580.94M | 1.53B | 3.67B | 2.31B | 387.71M | 726.52M | 1.18B |
| Selling & admin expenses | 54.97M | 492.63M | 1.22B | 1.19B | 924.61M | 711.74M | 745.35M | 724.04M |
| Research & development | 2.07M | 31.93M | 299.29M | 179.91M | 317.11M | 172.69M | 88.31M | 131.01M |
| Operating profit | 2.21M | 56.39M | 13.15M | 2.30B | 1.06B | -496.71M | -107.15M | 328.56M |
| Pretax profit | 2.10M | 73.67M | 102.43M | 2.66B | 1.78B | 591.74M | 658.80M | 1.05B |
| Tax | 2.39M | 25.92M | 230.53M | 631.43M | 371.58M | 50.76M | 94.46M | 118.99M |
| Net profit | -287.00K | 47.75M | -128.10M | 2.03B | 1.41B | 540.99M | 564.34M | 934.38M |
| Basic EPS | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 1 |
| Diluted EPS | 0.00 | 0.03 | -0.08 | 1.44 | 1.09 | 0.40 | 0.43 | 0.70 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 808.30M | -- | 1.13B | 1.14B | 1.59B | -- |
| Gross profit | 230.95M | 242.08M | 352.56M | 358.02M | 504.26M | 357.83M |
| Selling & admin expenses | 126.46M | 173.06M | 218.06M | 206.47M | 229.25M | 198.10M |
| Research & development | 27.06M | 30.07M | 41.25M | 32.64M | 30.38M | 29.36M |
| Operating profit | 77.44M | 38.96M | 93.25M | 118.91M | 244.64M | 130.38M |
| Pretax profit | 250.92M | 246.97M | 252.77M | 302.71M | 339.41M | 246.85M |
| Tax | 28.18M | 28.47M | 45.95M | 16.39M | 45.26M | 24.85M |
| Net profit | 222.74M | 218.50M | 206.83M | 286.32M | 294.16M | 222.00M |
| Basic EPS | 0 | 0 | 0 | 0 | 0 | 0 |
| Diluted EPS | 0.17 | 0.17 | 0.16 | 0.17 | 0.22 | 0.17 |
Balance sheet
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Total current assets | 104.34M | 1.18B | 3.87B | 13.95B | 11.20B | 8.98B | 9.30B | 11.20B |
| Cash & ST investments | 68.17M | 463.20M | 3.08B | 12.85B | 10.79B | 8.11B | 8.49B | 10.00B |
| Inventory | 14.15M | 219.31M | 329.12M | 589.09M | 130.90M | 144.85M | 142.55M | 297.68M |
| Total assets | 105.74M | 1.44B | 4.06B | 16.37B | 16.38B | 16.32B | 16.87B | 17.93B |
| Total current liabilities | 97.73M | 619.90M | 2.50B | 2.74B | 789.83M | 668.67M | 857.85M | 1.97B |
| Short-term debt | 209.00K | 31.44M | 45.07M | 80.58M | 45.96M | 29.44M | 51.45M | 136.18M |
| Long-term debt | -- | -- | -- | -- | -- | -- | -- | -- |
| Total liabilities | 99,114,000.00 | 1,337,825,000.00 | 2,551,252,000.00 | 2,846,373,000.00 | 838,451,000.00 | 716,681,000.00 | 881,096,000.00 | 2,197,950,000.00 |
| Total equity | 6.62M | 106.28M | 1.51B | 13.52B | 15.54B | 15.60B | 15.99B | 15.73B |
| Retained earnings | -1.13M | 46.46M | -81.64M | 1.91B | 3.32B | 3.77B | 4.22B | 4.12B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 8.99B | 8.37B | 9.58B | 11.20B | 11.55B | 10.79B |
| Cash & ST investments | 8.16B | 7.41B | 8.47B | 10.00B | 9.50B | 8.76B |
| Inventory | 116.50M | 227.86M | 230.95M | 297.68M | 372.44M | 416.25M |
| Total assets | 17.07B | 17.49B | 17.43B | 17.93B | 17.56B | 16.85B |
| Total current liabilities | 819.65M | 1.00B | 1.03B | 1.97B | 1.35B | 1.02B |
| Short-term debt | 70.30M | 126.76M | 136.09M | 136.18M | 161.10M | 187.94M |
| Long-term debt | -- | -- | -- | -- | -- | -- |
| Total liabilities | 849,132,000.00 | 1,246,837,000.00 | 1,239,324,000.00 | 2,197,950,000.00 | 1,565,302,000.00 | 1,225,020,000.00 |
| Total equity | 16.22B | 16.24B | 16.19B | 15.73B | 15.99B | 15.63B |
| Retained earnings | -- | -- | -- | 4.12B | -- | -- |
Cash flow
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -977.00K | 338.13M | 2.59B | 1.80B | 486.83M | 198.70M | 854.35M | 1.10B |
| Depreciation & amortization | 37.00K | 13.41M | 62.45M | 113.55M | 164.46M | 96.60M | 75.80M | 91.52M |
| Free cash flow | -1.37M | 245.73M | 2.57B | 1.66B | 442.26M | 166.29M | 842.09M | 985.83M |
| Dividends paid | 0 | -36.00M | -- | 0 | 0 | -92.38M | -88.84M | -91.47M |
| Stock buybacks / issuance | -- | 0 | 0 | 9.91B | -500.37M | -996.63M | -589.36M | -183.93M |
| Ending cash balance | 68.21M | 484.09M | 1.45B | 5.21B | 1.29B | 2.42B | 5.64B | 5.55B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | 207.17M | 229.62M | 357.55M | 310.22M | -68.84M | -63.23M |
| Depreciation & amortization | -- | -- | -- | -- | -- | -- |
| Free cash flow | 207.17M | 229.62M | 357.55M | 191.50M | -68.84M | -63.23M |
| Dividends paid | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | -- | -- | -- | -- | -- | -- |
| Ending cash balance | 4.87B | 3.96B | 3.58B | 5.55B | 4.44B | 4.84B |
Returns & efficiency
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| ROE %i | -4.33 | 84.58 | -15.86 | 26.95 | 9.91 | 3.43 | 3.49 | 5.83 |
| ROA %i | -0.27 | 6.16 | -4.65 | 19.83 | 8.80 | 3.27 | 3.33 | 5.30 |
| ROIC %i | -4.03 | 46.32 | -14.22 | 26.46 | 9.82 | -0.28 | 0.14 | 2.67 |
| 5-year avg ROE %i | -- | -- | -- | -- | 20.25 | 21.80 | 5.58 | 9.92 |
| EBIT margin %i | 1.67 | 3.64 | 0.34 | 26.98 | 19.94 | -39.93 | -4.38 | 9.08 |
| FCF / sales %i | -- | 15.86 | 67.33 | 19.49 | 8.29 | 13.37 | 34.45 | 27.25 |
| Current ratioi | 1.07 | 1.91 | 1.55 | 5.10 | 14.18 | 13.44 | 10.84 | 5.70 |
| Quick ratioi | 0.89 | 0.89 | 1.26 | 4.70 | 13.73 | 13.13 | 10.56 | 5.39 |
| Debt / assetsi | 0.47 | 6.42 | 2.33 | 1.13 | 0.52 | 0.33 | 0.35 | 1.07 |
| LT debt / equityi | 4.27 | 57.71 | 3.28 | 0.77 | 0.26 | 0.16 | 0.04 | 0.36 |
| Interest coveragei | -- | -- | -- | -- | -- | -- | -- | -- |
| Revenue CAGR (3Y) %i | -- | -- | -- | 300.53 | 50.49 | -31.20 | -34.05 | -11.85 |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | 211.36 | -- | -35.16 | -13.84 |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | 21.64 | -59.86 | -20.26 | 30.63 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | 4.06 | 4.57 | 4.81 | 5.83 | 6.13 | 6.22 |
| ROA %i | 3.88 | 4.30 | 4.52 | 5.30 | 5.68 | 5.73 |
| ROIC %i | 0.83 | 1.39 | 1.75 | 2.67 | 3.15 | 3.36 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 0.82 | 3.23 | 6.05 | 9.08 | 11.32 | 13.04 |
| FCF / sales %i | 38.96 | 36.94 | 39.08 | 27.25 | 16.21 | 9.26 |
| Current ratioi | 10.97 | 8.35 | 9.30 | 5.70 | 8.53 | 10.61 |
| Quick ratioi | 10.36 | 7.81 | 8.57 | 5.39 | 7.67 | 9.42 |
| Debt / assetsi | 0.49 | 0.90 | 0.95 | 1.07 | 1.21 | 1.45 |
| LT debt / equityi | 0.08 | 0.19 | 0.18 | 0.36 | 0.32 | 0.36 |
| Interest coveragei | -- | -- | -- | -- | -- | -- |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
Revenue breakdown most recent period
Business
Single segment100.00%
Region
Hong Kong34.07%
China30.55%
Other International Areas23.56%
United Kingdom (UK)11.82%
Quote time 2026-10-08 08:24:32 · For reference only, not investment advice and not tailored to your situation.