RLX TECHNOLOGY INC-ADR (RLX) Stock Fundamental Analysis

USA • New York Stock Exchange • NYSE:RLX • US74969N1037

2.25 USD
-0.06 (-2.6%)
At close: Feb 2, 2026
2.2842 USD
+0.03 (+1.52%)
After Hours: 2/2/2026, 8:04:00 PM
Fundamental Rating

6

Taking everything into account, RLX scores 6 out of 10 in our fundamental rating. RLX was compared to 8 industry peers in the Tobacco industry. RLX is in great health and has no worries on liquidiy or solvency at all, but the profibility rating is only average. RLX is growing strongly while it is still valued neutral. This is a good combination!


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

  • RLX had positive earnings in the past year.
  • In the past year RLX had a positive cash flow from operations.
  • RLX had positive earnings in 4 of the past 5 years.
  • In the past 5 years RLX always reported a positive cash flow from operatings.
RLX Yearly Net Income VS EBIT VS OCF VS FCFRLX Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2018 2019 2020 2021 2022 2023 2024 0 1B 2B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 4.38%, RLX is in the better half of the industry, outperforming 62.50% of the companies in the same industry.
  • RLX has a Return On Equity of 4.75%. This is in the better half of the industry: RLX outperforms 62.50% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 1.06%, RLX is doing worse than 62.50% of the companies in the same industry.
Industry RankSector Rank
ROA 4.38%
ROE 4.75%
ROIC 1.06%
ROA(3y)5.12%
ROA(5y)4.91%
ROE(3y)5.38%
ROE(5y)4.52%
ROIC(3y)N/A
ROIC(5y)N/A
RLX Yearly ROA, ROE, ROICRLX Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2018 2019 2020 2021 2022 2023 2024 0 10 20 30 40

1.3 Margins

  • The Profit Margin of RLX (21.05%) is better than 75.00% of its industry peers.
  • RLX's Profit Margin has improved in the last couple of years.
  • With a Operating Margin value of 5.46%, RLX is not doing good in the industry: 62.50% of the companies in the same industry are doing better.
  • RLX's Gross Margin of 28.79% is in line compared to the rest of the industry. RLX outperforms 50.00% of its industry peers.
  • RLX's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 5.46%
PM (TTM) 21.05%
GM 28.79%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-5.46%
PM growth 5Y45.47%
GM growth 3Y-15.04%
GM growth 5Y-6.75%
RLX Yearly Profit, Operating, Gross MarginsRLX Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40

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8

2. Health

2.1 Basic Checks

  • RLX has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • Compared to 1 year ago, RLX has less shares outstanding
  • The number of shares outstanding for RLX has been reduced compared to 5 years ago.
  • Compared to 1 year ago, RLX has an improved debt to assets ratio.
RLX Yearly Shares OutstandingRLX Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 2024 500M 1B
RLX Yearly Total Debt VS Total AssetsRLX Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.2 Solvency

  • RLX has a debt to FCF ratio of 0.09. This is a very positive value and a sign of high solvency as it would only need 0.09 years to pay back of all of its debts.
  • RLX has a better Debt to FCF ratio (0.09) than 100.00% of its industry peers.
  • A Debt/Equity ratio of 0.01 indicates that RLX is not too dependend on debt financing.
  • RLX has a better Debt to Equity ratio (0.01) than 87.50% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.09
Altman-Z N/A
ROIC/WACC0.14
WACC7.53%
RLX Yearly LT Debt VS Equity VS FCFRLX Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2018 2019 2020 2021 2022 2023 2024 0 5B 10B 15B

2.3 Liquidity

  • RLX has a Current Ratio of 9.30. This indicates that RLX is financially healthy and has no problem in meeting its short term obligations.
  • RLX's Current ratio of 9.30 is amongst the best of the industry. RLX outperforms 100.00% of its industry peers.
  • A Quick Ratio of 9.08 indicates that RLX has no problem at all paying its short term obligations.
  • RLX's Quick ratio of 9.08 is amongst the best of the industry. RLX outperforms 100.00% of its industry peers.
Industry RankSector Rank
Current Ratio 9.3
Quick Ratio 9.08
RLX Yearly Current Assets VS Current LiabilitesRLX Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

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7

3. Growth

3.1 Past

  • The earnings per share for RLX have decreased strongly by -13.37% in the last year.
  • RLX shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 70.32% yearly.
  • Looking at the last year, RLX shows a very strong growth in Revenue. The Revenue has grown by 43.72%.
  • The Revenue has been growing by 12.15% on average over the past years. This is quite good.
EPS 1Y (TTM)-13.37%
EPS 3Y-33.16%
EPS 5Y70.32%
EPS Q2Q%5%
Revenue 1Y (TTM)43.72%
Revenue growth 3Y-31.42%
Revenue growth 5Y12.15%
Sales Q2Q%49.32%

3.2 Future

  • Based on estimates for the next years, RLX will show a quite strong growth in Earnings Per Share. The EPS will grow by 9.15% on average per year.
  • Based on estimates for the next years, RLX will show a very strong growth in Revenue. The Revenue will grow by 27.69% on average per year.
EPS Next Y18.19%
EPS Next 2Y12.14%
EPS Next 3Y9.15%
EPS Next 5YN/A
Revenue Next Year45.09%
Revenue Next 2Y35.29%
Revenue Next 3Y27.69%
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
RLX Yearly Revenue VS EstimatesRLX Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2B 4B 6B 8B
RLX Yearly EPS VS EstimatesRLX Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 0.5 1

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4

4. Valuation

4.1 Price/Earnings Ratio

  • RLX is valuated rather expensively with a Price/Earnings ratio of 20.45.
  • 62.50% of the companies in the same industry are more expensive than RLX, based on the Price/Earnings ratio.
  • When comparing the Price/Earnings ratio of RLX to the average of the S&P500 Index (28.41), we can say RLX is valued slightly cheaper.
  • RLX is valuated rather expensively with a Price/Forward Earnings ratio of 17.44.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of RLX indicates a somewhat cheap valuation: RLX is cheaper than 62.50% of the companies listed in the same industry.
  • RLX is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 25.64, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 20.45
Fwd PE 17.44
RLX Price Earnings VS Forward Price EarningsRLX Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as RLX.
  • 62.50% of the companies in the same industry are more expensive than RLX, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 14.75
EV/EBITDA 22.19
RLX Per share dataRLX EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0.5 1 1.5

4.3 Compensation for Growth

  • RLX's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.12
PEG (5Y)0.29
EPS Next 2Y12.14%
EPS Next 3Y9.15%

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4

5. Dividend

5.1 Amount

  • RLX has a Yearly Dividend Yield of 4.64%, which is a nice return.
  • Compared to an average industry Dividend Yield of 3.31, RLX pays a bit more dividend than its industry peers.
  • RLX's Dividend Yield is rather good when compared to the S&P500 average which is at 1.83.
Industry RankSector Rank
Dividend Yield 4.64%

5.2 History

  • RLX has been paying a dividend for less than 5 years, so it still needs to build a track record.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
RLX Yearly Dividends per shareRLX Yearly Dividends per shareYearly Dividends per share 2023 2024 2025 2026 0.02 0.04 0.06 0.08

5.3 Sustainability

DPN/A
EPS Next 2Y12.14%
EPS Next 3Y9.15%
RLX Yearly Income VS Free CF VS DividendRLX Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B 2B 2.5B

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RLX TECHNOLOGY INC-ADR

NYSE:RLX (2/2/2026, 8:04:00 PM)

After market: 2.2842 +0.03 (+1.52%)

2.25

-0.06 (-2.6%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryTobacco
Earnings (Last)11-14
Earnings (Next)03-12
Inst Owners27.87%
Inst Owner Change0.24%
Ins Owners47.75%
Ins Owner ChangeN/A
Market Cap2.74B
Revenue(TTM)3.63B
Net Income(TTM)764.28M
Analysts77.14
Price Target3.14 (39.56%)
Short Float %6.79%
Short Ratio2.48
Dividend
Industry RankSector Rank
Dividend Yield 4.64%
Yearly Dividend0.01
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-Date01-26
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-13.25%
Min EPS beat(2)-21.02%
Max EPS beat(2)-5.49%
EPS beat(4)1
Avg EPS beat(4)-5.3%
Min EPS beat(4)-21.02%
Max EPS beat(4)11.24%
EPS beat(8)2
Avg EPS beat(8)11.83%
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)15.9%
Min Revenue beat(2)11.59%
Max Revenue beat(2)20.2%
Revenue beat(4)4
Avg Revenue beat(4)10.49%
Min Revenue beat(4)4.84%
Max Revenue beat(4)20.2%
Revenue beat(8)7
Avg Revenue beat(8)6.44%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0.82%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)-1.44%
EPS NY rev (3m)3%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)-1.48%
Revenue NY rev (3m)0.56%
Valuation
Industry RankSector Rank
PE 20.45
Fwd PE 17.44
P/S 5.25
P/FCF 14.75
P/OCF 14.75
P/B 1.18
P/tB 1.24
EV/EBITDA 22.19
EPS(TTM)0.11
EY4.89%
EPS(NY)0.13
Fwd EY5.73%
FCF(TTM)0.15
FCFY6.78%
OCF(TTM)0.15
OCFY6.78%
SpS0.43
BVpS1.9
TBVpS1.81
PEG (NY)1.12
PEG (5Y)0.29
Graham Number2.17
Profitability
Industry RankSector Rank
ROA 4.38%
ROE 4.75%
ROCE 1.21%
ROIC 1.06%
ROICexc 2.18%
ROICexgc 2.42%
OM 5.46%
PM (TTM) 21.05%
GM 28.79%
FCFM 35.56%
ROA(3y)5.12%
ROA(5y)4.91%
ROE(3y)5.38%
ROE(5y)4.52%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-5.46%
PM growth 5Y45.47%
GM growth 3Y-15.04%
GM growth 5Y-6.75%
F-Score7
Asset Turnover0.21
Health
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.09
Debt/EBITDA 0.41
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 250
Cash Conversion 471.47%
Profit Quality 168.96%
Current Ratio 9.3
Quick Ratio 9.08
Altman-Z N/A
F-Score7
WACC7.53%
ROIC/WACC0.14
Cap/Depr(3y)25.61%
Cap/Depr(5y)45.41%
Cap/Sales(3y)1.11%
Cap/Sales(5y)1.08%
Profit Quality(3y)71.47%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-13.37%
EPS 3Y-33.16%
EPS 5Y70.32%
EPS Q2Q%5%
EPS Next Y18.19%
EPS Next 2Y12.14%
EPS Next 3Y9.15%
EPS Next 5YN/A
Revenue 1Y (TTM)43.72%
Revenue growth 3Y-31.42%
Revenue growth 5Y12.15%
Sales Q2Q%49.32%
Revenue Next Year45.09%
Revenue Next 2Y35.29%
Revenue Next 3Y27.69%
Revenue Next 5YN/A
EBIT growth 1Y185.7%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year113.33%
EBIT Next 3Y53.59%
EBIT Next 5YN/A
FCF growth 1Y422.89%
FCF growth 3Y-20.26%
FCF growth 5Y27.93%
OCF growth 1Y463.39%
OCF growth 3Y-21.99%
OCF growth 5Y20.37%

RLX TECHNOLOGY INC-ADR / RLX FAQ

What is the fundamental rating for RLX stock?

ChartMill assigns a fundamental rating of 6 / 10 to RLX.


Can you provide the valuation status for RLX TECHNOLOGY INC-ADR?

ChartMill assigns a valuation rating of 4 / 10 to RLX TECHNOLOGY INC-ADR (RLX). This can be considered as Fairly Valued.


What is the profitability of RLX stock?

RLX TECHNOLOGY INC-ADR (RLX) has a profitability rating of 4 / 10.


What are the PE and PB ratios of RLX TECHNOLOGY INC-ADR (RLX) stock?

The Price/Earnings (PE) ratio for RLX TECHNOLOGY INC-ADR (RLX) is 20.45 and the Price/Book (PB) ratio is 1.18.


Can you provide the financial health for RLX stock?

The financial health rating of RLX TECHNOLOGY INC-ADR (RLX) is 8 / 10.