RLX Technology Inc.
RLX NYSE· Cigarettes
Last close · Nov 9, 2026
$1.59
Key numbers, fiscal 2025
Market cap
$1.9B
P/E
16.4x
Revenue
$551M
Net income
$128M
Free cash flow
$137M
Operating margin
8.3%
RLX Technology Inc. in 30 seconds fiscal 2025
Are sales growing?
+44.2%
Yes. Sales grew 44.2% last year.
Does it make a profit?
23.3%
Yes. It keeps 23.3% of every sale as profit.
Does profit turn into cash?
24.9%
Yes. 24.9% of sales ends up as free cash.
Is debt under control?
Net cash
Yes. It has more cash than debt.
How healthy are the accounts?
7 / 9
Solid. It passes 7 of 9 health tests.
How is the share priced?
16.4x
One share costs 16.4 times its yearly profit per share.
What RLX Technology Inc. does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · Apr 23, 2026
- Legal name
- RLX Technology Inc.
- CIK
- 0001828365
RLX Technology Inc. · RLX · stoqly.net
Results and finances
The last 5 fiscal years. Amounts in USD. Compiled by stoqly.net.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $1.3B | $792M | $224M | $382M | $551M |
| Revenue growth | 138.7% | −40.0% | −71.7% | 70.5% | 44.2% |
| Gross margin | 43.1% | 43.2% | 24.4% | 26.4% | 29.9% |
| Operating margin | 27.0% | 19.9% | −31.3% | −3.9% | 8.3% |
| Net income | $314M | $214M | $75.4M | $76.7M | $128M |
| Net margin | 23.8% | 27.0% | 33.7% | 20.1% | 23.3% |
| Diluted EPS | $0.22 | $0.16 | $0.06 | $0.06 | $0.10 |
| Cash | |||||
| Cash from operations | $279M | $72.3M | $28.1M | $119M | $154M |
| Capital expenditure | $20.3M | $5.7M | $4.0M | $1.4M | $16.4M |
| Free cash flow | $259M | $66.6M | $24.1M | $117M | $137M |
| FCF margin | 19.6% | 8.4% | 10.7% | 30.7% | 24.9% |
| Dividends paid | — | — | $13.0M | $12.3M | $12.7M |
| Share buybacks | $19.8M | $74.3M | $141M | $81.9M | $25.6M |
| Share count change | −1.9% | −5.8% | 0.9% | −3.8% | −5.0% |
| Debt and strength | |||||
| Cash and short-term investments | $1.4B | $537M | $772M | $865M | $1.1B |
| Debt incl. finance leases | — | — | $0.0M | $5.5M | $13.2M |
| Shareholders' equity | $2.1B | $2.3B | $2.2B | $2.2B | $2.2B |
| Net debt / EBITDA | — | — | — | — | −21.7x |
| Current ratio | 5.1x | 14.2x | 13.4x | 10.8x | 5.7x |
| Interest coverage | — | 758.6x | — | −607.7x | 51.4x |
| Returns and quality | |||||
| Return on capital | — | — | −4.5% | −1.0% | 3.5% |
| Return on equity | 26.6% | 9.8% | 3.4% | 3.5% | 5.8% |
| Return on tangible equity | 14.8% | 9.5% | 3.5% | 3.5% | 5.6% |
| Piotroski F-score | 6 | 5 | 2 | 7 | 7 |
| Altman Z'' | 10.8 | 24.8 | 26.8 | 23.1 | 11.7 |
Insider trades 12 months
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
RLX Technology Inc. · RLX · stoqly.net
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Compiled and analysed by stoqly.net from SEC EDGAR XBRL filings (CIK 0001828365). Latest version: stoqly.net/companies/rlx. Data updated November 9, 2026. Filed in CNY under US GAAP and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. For information only — not investment advice. Check the original filings before relying on any figure.