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RLX Technology Inc. RLX

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1.65 USD +0.01 (+0.61%)

Nov 5, 2026, 9:41 AM EST

1.65 Day range 1.66
1.58 52-week range 2.60
YTD
-29.18%
1 year
-28.88%

Financial health

Altman Z-Score

7.71 Safe zone

Bankruptcy-risk model: below 1.81 distress, above 2.99 safe.

Piotroski F-Score

6 / 9 Average

Nine pass/fail tests of profitability, leverage and efficiency.

FMP rating

A+4 / 5 overall

  • DCF 5
  • Return on Equity 3
  • Return on Assets 4
  • Debt / Equity 5
  • P/E 3
  • P/B 4

Valuation

P/E 23.3×
FY 2018: -1014465×FY 2019: 6692×FY 2020: -2334×FY 2021: 17.2×FY 2022: 14.6×FY 2023: 35.5×FY 2024: 35.0×FY 2025: 23.3×
FY 2018 5y median 23.3× FY 2025
P/S 5.7×
FY 2018: 2377×FY 2019: 206×FY 2020: 78.3×FY 2021: 4.1×FY 2022: 3.9×FY 2023: 15.3×FY 2024: 7.9×FY 2025: 5.7×
FY 2018 5y median 5.7× FY 2025
P/B 1.3×
FY 2018: 47585×FY 2019: 20915×FY 2020: 1297×FY 2021: 2.6×FY 2022: 1.3×FY 2023: 1.2×FY 2024: 1.2×FY 2025: 1.3×
FY 2018 5y median 1.3× FY 2025
P/FCF 20.2×
FY 2018: -229372×FY 2019: 1299×FY 2020: 116×FY 2021: 20.9×FY 2022: 46.7×FY 2023: 114×FY 2024: 23.1×FY 2025: 20.2×
FY 2018 5y median 23.1× FY 2025
EV/EBITDA 13.0×
FY 2018: 140164×FY 2019: 4572×FY 2020: 3956×FY 2021: 10.7×FY 2022: 10.2×FY 2023: 24.3×FY 2024: 18.9×FY 2025: 13.0×
FY 2018 5y median 13.0× FY 2025
EV/Sales 4.1×
FY 2018: 2376×FY 2019: 206×FY 2020: 78.3×FY 2021: 3.5×FY 2022: 3.7×FY 2023: 13.4×FY 2024: 5.7×FY 2025: 4.1×
FY 2018 5y median 4.1× FY 2025
FCF Yield 4.9%
FY 2018: -0.0%FY 2019: 0.1%FY 2020: 0.9%FY 2021: 4.8%FY 2022: 2.1%FY 2023: 0.9%FY 2024: 4.3%FY 2025: 4.9%
FY 2018 5y median 4.3% FY 2025

Profitability

Gross Margin 32.7%
FY 2018: 44.7%FY 2019: 37.5%FY 2020: 40.0%FY 2021: 43.1%FY 2022: 43.2%FY 2023: 31.2%FY 2024: 29.7%FY 2025: 32.7%
FY 2018 5y median 32.7% FY 2025
Operating Margin 9.1%
FY 2018: 1.7%FY 2019: 3.6%FY 2020: 0.3%FY 2021: 27.0%FY 2022: 19.9%FY 2023: -39.9%FY 2024: -4.4%FY 2025: 9.1%
FY 2018 5y median 9.1% FY 2025
Net Margin 25.5%
FY 2018: -0.2%FY 2019: 3.1%FY 2020: -3.4%FY 2021: 23.8%FY 2022: 27.0%FY 2023: 43.0%FY 2024: 22.6%FY 2025: 25.5%
FY 2018 5y median 25.5% FY 2025
ROE 5.7%
FY 2018: -4.3%FY 2019: 312.9%FY 2020: -55.5%FY 2021: 15.0%FY 2022: 9.3%FY 2023: 3.4%FY 2024: 3.5%FY 2025: 5.7%
FY 2018 5y median 5.7% FY 2025
ROIC 1.8%
FY 2018: 0.7%FY 2019: 21.1%FY 2020: -4.2%FY 2021: 12.8%FY 2022: 5.4%FY 2023: -2.9%FY 2024: -0.6%FY 2025: 1.8%
FY 2018 5y median 1.8% FY 2025
ROA 5.0%
FY 2018: -0.3%FY 2019: 23.0%FY 2020: -20.6%FY 2021: 12.4%FY 2022: 8.8%FY 2023: 3.3%FY 2024: 3.3%FY 2025: 5.0%
FY 2018 5y median 5.0% FY 2025

Growth (YoY)

Revenue 43.9%
FY 2018: 0.0%FY 2019: 1068.3%FY 2020: 146.5%FY 2021: 123.1%FY 2022: -37.4%FY 2023: -76.7%FY 2024: 96.5%FY 2025: 43.9%
FY 2018 FY 2025
Operating Income 398.3%
FY 2018: 0.0%FY 2019: 2450.2%FY 2020: -76.7%FY 2021: 17382.0%FY 2022: -53.7%FY 2023: -146.7%FY 2024: 78.4%FY 2025: 398.3%
FY 2018 FY 2025
EPS (diluted) 62.8%
FY 2018: 0.0%FY 2019: 15450.0%FY 2020: -368.7%FY 2021: 1845.5%FY 2022: -24.3%FY 2023: -63.3%FY 2024: 7.5%FY 2025: 62.8%
FY 2018 FY 2025
Free Cash Flow 17.1%
FY 2018: 0.0%FY 2019: 17984.3%FY 2020: 946.6%FY 2021: -35.4%FY 2022: -73.0%FY 2023: -62.9%FY 2024: 406.4%FY 2025: 17.1%
FY 2018 FY 2025

Financial Health

Current Ratio 5.7×
FY 2018: 1.1×FY 2019: 1.9×FY 2020: 1.5×FY 2021: 5.1×FY 2022: 14.2×FY 2023: 13.4×FY 2024: 10.8×FY 2025: 5.7×
FY 2018 5y median 10.8× FY 2025
Quick Ratio 5.6×
FY 2018: 0.9×FY 2019: 1.5×FY 2020: 1.4×FY 2021: 4.9×FY 2022: 14.0×FY 2023: 13.2×FY 2024: 10.7×FY 2025: 5.6×
FY 2018 5y median 10.7× FY 2025
Debt / Equity 0.0×
FY 2018: 0.1×FY 2019: 4.2×FY 2020: 0.7×FY 2021: 0.0×FY 2022: 0.0×FY 2023: 0.0×FY 2024: 0.0×FY 2025: 0.0×
FY 2018 5y median 0.0× FY 2025
Net Debt / EBITDA -4.8×
FY 2018: -30.1×FY 2019: -0.1×FY 2020: -0.9×FY 2021: -1.8×FY 2022: -0.6×FY 2023: -3.3×FY 2024: -7.5×FY 2025: -4.8×
FY 2018 5y median -3.3× FY 2025
Interest Coverage 0.0×
FY 2018: 20.7×FY 2019: 0.0×FY 2020: 0.0×FY 2021: 0.0×FY 2022: 0.0×FY 2023: 0.0×FY 2024: 0.0×FY 2025: 0.0×
FY 2018 5y median 0.0× FY 2025

Dividends

Dividend Yield 0.5%
FY 2018: 0.0%FY 2019: 0.0%FY 2020: 0.0%FY 2021: 0.9%FY 2022: 0.0%FY 2023: 0.5%FY 2024: 0.5%FY 2025: 0.5%
FY 2018 5y median 0.5% FY 2025
Payout Ratio 10.2%
FY 2018: 0.0%FY 2019: 75.4%FY 2020: 0.0%FY 2021: 16.1%FY 2022: 0.0%FY 2023: 17.3%FY 2024: 16.1%FY 2025: 10.2%
FY 2018 5y median 16.1% FY 2025

Annual · latest fiscal year ends 2025-12-31