RLX Technology Inc. (RLX)
RLX Technology Inc., along with its affiliated entities, operates within the People's Republic of China, focusing on the entire lifecycle of electronic vapor products, from conceptualization and development to manufacturing, distribution, and direct sales. The company's offerings are made available to customers via a network of distributors who supply both dedicated RELX-branded partner stores and other independent retail outlets. This firm was established in 2018 and has its principal operations located in Beijing, China.
Sector: Cigarettes
Industry: Tobacco
RLX Technology Inc.
NYSE:RLXConsumer Defensive · Tobacco
-1.83%$1.61
AH Close$1.61+0.00%vs close
AH Close$1.61+0.00%vs close
Mkt Cap$1.97B
Float305.08M
O/S1.22B
Inst Own21.8%
SI2.6%
Div Yield6.21%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$527.52M
Net Income$134.44M
Total Assets$2.69B
Free Cash Flow$147.79M
Debt & Equity
Debt 1%
Equity 99%
Total Debt$26.46M
Total Equity$2.35B
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in RLX's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$2.69B
Liabilities$329.73M
Accounts Receivable$60.72M
Accounts Payable$60.56M
Inventory$44.66M
PP&E (Net)$49.27M
Goodwill$85.09M
Intangible Assets$31.97M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Revenue | $527.52M | $366.48M | $186.51M | $799.49M | $1.28B | $572.65M | $232.28M | $19.88M |
| YoY Growth | 43.9% | 96.5% | -76.7% | -37.4% | 123.1% | 146.5% | 1068.3% | - |
| Cost of Revenue | $354.91M | $257.56M | $128.38M | $453.9M | $726.95M | $343.64M | $145.18M | $11M |
| Gross Profit | $172.61M | $108.92M | $58.13M | $345.58M | $550.51M | $229.01M | $87.09M | $8.88M |
| Gross Margin | 32.7% | 29.7% | 31.2% | 43.2% | 43.1% | 40.0% | 37.5% | 44.7% |
| Research and Development | $19.11M | $13.24M | $25.89M | $47.54M | $26.97M | $44.87M | $4.79M | $310K |
| Selling, General, and Administrative | $105.59M | $111.74M | $106.7M | $138.62M | $178.92M | $182.17M | $73.85M | $8.24M |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$900 |
| Total Operating Expenses | $124.7M | $124.98M | $132.59M | $186.16M | $205.89M | $227.04M | $78.64M | $8.55M |
| Operating Income (EBIT) | $47.92M | -$16.06M | -$74.47M | $159.43M | $344.62M | $1.97M | $8.45M | $331K |
| Operating Margin | 9.1% | -4.4% | -39.9% | 19.9% | 27.0% | 0.3% | 3.6% | 1.7% |
| Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $16K |
| Interest Income | $89.26M | $92.41M | $94.13M | $27.09M | $10.86M | $7.91M | $112K | $0 |
| Other Income (Expense) | $105.7M | $114.83M | $163.18M | $107.48M | $54.1M | $13.39M | $2.59M | -$17K |
| Income Before Tax (EBT) | $153.62M | $98.77M | $88.71M | $266.9M | $398.72M | $15.36M | $11.04M | $315K |
| Income Tax Expense | $17.35M | $14.16M | $7.61M | $55.71M | $94.66M | $34.56M | $3.89M | $358K |
| Net Income | $134.44M | $82.73M | $80.11M | $216.07M | $303.54M | -$19.2M | $7.16M | -$43K |
| Net Income Margin | 25.5% | 22.6% | 43.0% | 27.0% | 23.8% | -3.4% | 3.1% | -0.2% |
| Supplementary Data | ||||||||
| EPS | 0.70 | 0.45 | 0.40 | 1.09 | 1.44 | -0.08 | 0.03 | -0.00 |
| Diluted EPS | 0.70 | 0.43 | 0.40 | 1.09 | 1.44 | -0.08 | 0.03 | -0.00 |
| Weighted Average OS | 1.22B | 1.23B | 1.34B | 1.32B | 1.40B | 1.55B | 1.55B | 1.55B |
| EBITDA | $167.34M | $110.13M | $103.2M | $291.56M | $415.74M | $11.33M | $10.46M | $337K |
| EBITDA Margin | 31.7% | 30.1% | 55.3% | 36.5% | 32.5% | 2.0% | 4.5% | 1.7% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Assets | ||||||||
| Current Assets | ||||||||
| Cash and Cash Equivalents | $831.84M | $838.57M | $358.35M | $190.17M | $780.93M | $33.35M | $10.42M | $10.22M |
| Short-Term Investments | $695.63M | $434.71M | $858.2M | $1.43B | $1.15B | $45.08M | $7.05M | $0 |
| Cash and Short-Term Investments | $1.53B | $1.27B | $1.22B | $1.62B | $1.93B | $78.43M | $17.47M | $10.22M |
| Accounts Receivable | $60.72M | $84.89M | $99.36M | $8.92M | $3.89M | $1.25M | $1.85M | $2.89M |
| Inventory | $44.66M | $21.37M | $21.72M | $19.62M | $88.32M | $7.98M | $4.97M | $2.12M |
| Other Current Assets | $47.93M | $10.59M | $5.9M | $32.91M | $26.21M | $327K | $0 | $28K |
| Total Current Assets | $1.68B | $1.39B | $1.35B | $1.68B | $2.09B | $88.65M | $25.46M | $15.64M |
| Long-Term Assets | ||||||||
| Property, Plant & Equipment Net | $49.27M | $12.29M | $19.48M | $24.42M | $47.89M | $4.07M | $3.8M | $133K |
| Goodwill | $85.09M | $8.93M | $9.97M | $425K | $0 | $0 | $0 | $0 |
| Intangible Assets | $31.97M | $7.92M | $10.46M | $707K | $1.25M | $124K | $116K | $0 |
| Long-Term Investments | $833.83M | $1.1B | $1.05B | $739.54M | $302.33M | $92K | $1.67M | $0 |
| Deferred Tax Assets | $4.37M | $5.71M | $8.73M | $9.58M | $3.13M | $138K | $2K | $77K |
| Other Long-Term Assets | $4.41M | $429K | $731K | $2.02M | $7.34M | $0 | $32K | $0 |
| Total Long-Term Assets | $1.01B | $1.13B | $1.1B | $776.68M | $361.93M | $4.42M | $5.62M | $210K |
| Other Assets | $1 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $2.69B | $2.53B | $2.45B | $2.46B | $2.45B | $93.07M | $31.08M | $15.85M |
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts Payable | $60.56M | $44.3M | $16.4M | $7.87M | $75.87M | $12.28M | $3.24M | $2.58M |
| Short-Term Debt | $18.11M | $6M | $6.16M | $0 | $0 | $22.22M | $8.18M | -$7.64M |
| Current Income Tax Payable | $0 | $18.91M | $11.57M | $16.44M | $89.62M | $8.34M | $60K | $844K |
| Current Unearned Revenue | $12.6M | $1.59M | $7.43M | $11.28M | $42.97M | $7.35M | $396K | $81K |
| Other Current Liabilities | $93.64M | $4.38M | -$628K | $5.72M | $32.22M | $2.94M | $558K | -$439K |
| Total Current Liabilities | $294.79M | $128.61M | $100.25M | $118.41M | $410.42M | $57.23M | $13.34M | $14.65M |
| Long-Term Liabilities | ||||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | -$3.54M | -$1.3M | -$677K | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $16.94M | $0 | $3.54M | $1.3M | $677K | $119K | $228K | $0 |
| Other Long-Term Liabilities | $9.64M | $2.43M | $3.54M | $1.3M | $677K | $0 | $13.9M | $165K |
| Total Long-Term Liabilities | $34.93M | $3.49M | $7.2M | $7.29M | $16.3M | $1.25M | $15.45M | $207K |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $329.73M | $132.09M | $107.44M | $125.7M | $426.73M | $58.49M | $28.79M | $14.86M |
| Stockholders' Equity | ||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $0 | $16K | $16K | $16K | $15K | $2K | $2K | $14K |
| Retained Earnings | $0 | $636.71M | $564.55M | $498.43M | $286.18M | -$1.87M | $1M | -$170K |
| Comprehensive Income & Other | $0 | $168.35M | $147.12M | $121.43M | -$22.12M | $7K | $4K | $124K |
| Other Stockholders' Equity | $2.35B | $1.76B | $1.78B | $1.84B | $1.74B | $36.45M | $1.29M | $1.15M |
| Total Equity | $2.35B | $2.4B | $2.34B | $2.33B | $2.03B | $34.58M | $2.29M | $993K |
| Minority Interest | $14.68M | $260K | -$1.65M | -$4.3M | $570K | $0 | $0 | $0 |
| Total Liabilities and Equity | $2.68B | $2.53B | $2.45B | $2.46B | $2.45B | $93.07M | $31.08M | $15.85M |
| Supplementary Data | ||||||||
| Total Debt | $26.46M | $8.77M | $14.24M | $12.88M | $27.71M | $23.35M | $9.5M | $74K |
| Net Debt | -$805.38M | -$829.8M | -$344.12M | -$177.29M | -$753.22M | -$10M | -$921K | -$10.15M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Operating Activities | ||||||||
| Net Income | $140.08M | $84.61M | $81.1M | $211.2M | $303.54M | -$19.2M | $7.16M | -$43K |
| Depreciation & Amortization | $13.72M | $11.36M | $14.48M | $24.66M | $17.02M | $9.36M | $2.01M | $6K |
| Deferred Income Tax | -$410K | $1.45M | $674K | -$5.83M | $0 | -$1.69M | $1.65M | -$77K |
| Stock-Based Compensation | $27.92M | $55.42M | $54.4M | $24.91M | $33.48M | $139.29M | $7.9M | $1.02M |
| Changes in Working Capital: | ||||||||
| Accounts Receivable | $15.61M | -$36.66M | $3.46M | -$4.56M | -$483K | $4.11M | -$4.9M | -$2.35M |
| Inventory | -$8.26M | -$3.26M | -$5.85M | $26.94M | -$52.33M | -$16.46M | -$31.15M | -$2.12M |
| Accounts Payable | -$8.33M | $28.8M | -$4.51M | -$152.84M | $0 | $144.04M | $72.23M | $2.58M |
| Other Working Capital | -$14.34M | -$6.97M | -$39.25M | $4.56M | -$45.77M | $131.57M | -$4.6M | $813K |
| Total Working Capital Change | -$15.33M | -$18.09M | -$46.15M | -$125.9M | -$98.58M | $263.25M | $31.58M | -$1.07M |
| Other Non-Cash Items | -$392K | -$6.67M | -$74.72M | -$56.04M | $14.37M | -$2.81M | $391K | $18K |
| Net Cash from Operating | $165.59M | $128.08M | $29.79M | $72.99M | $269.84M | $388.2M | $50.69M | -$146K |
| Investing Activities | ||||||||
| Capital Expenditures | -$17.65M | -$1.51M | -$4.23M | -$5.79M | -$20.81M | -$2.62M | -$13.85M | -$60K |
| Acquisitions | -$89.82M | $0 | -$314.04M | $0 | $1.18M | -$730K | $0 | $0 |
| Purchases of Investments | -$2.57B | -$1.96B | -$2.57B | -$6.86B | -$3.26B | -$1.12B | -$53.02M | $0 |
| Sales of Investments | $2.55B | $2.41B | $2.89B | $2.42B | $2.1B | $860.68M | $0 | $0 |
| Other Investing Activities | -$63K | -$92K | $313.5M | $3.83B | -$1.18M | -$9.87M | -$7.76M | -$55K |
| Net Cash from Investing | -$123.26M | $452.46M | $313.5M | -$619.62M | -$1.18B | -$271.79M | -$74.64M | -$60K |
| Financing Activities | ||||||||
| Debt Repaid | $14.84M | - | - | $210K | - | - | - | -$750K |
| Common Stock Issuance | $173K | $0 | $0 | $0 | $1.51B | $0 | $0 | $0 |
| Common Stock Repurchases | -$27.57M | -$88.36M | -$149.41M | -$75.02M | -$19.12M | $0 | $0 | $0 |
| Dividends Paid | -$13.71M | -$13.32M | -$13.85M | -$96K | -$48.79M | $0 | -$5.4M | $0 |
| Other Financing Activities | -$237K | -$5.97M | -$15.62M | $3.77M | $47.17M | $26.22M | $91.81M | $5.04M |
| Net Cash from Financing | -$42.39M | -$101.65M | -$178.89M | -$71.55M | $1.48B | $26.22M | $86.41M | $10.43M |
| Forex Effect | -$14.84M | $4.49M | $5.15M | $30.45M | -$11.8M | $2.9M | -$121K | -$2K |
| Net Change in Cash | -$14.89M | $483.39M | $169.55M | -$587.74M | $562.9M | $145.53M | $62.35M | $10.23M |
| Supplementary Data | ||||||||
| Operating Cash Flow | $165.59M | $128.08M | $29.79M | $72.99M | $269.84M | $388.2M | $50.69M | -$146K |
| Capital Expenditure | -$17.8M | -$1.84M | -$4.86M | -$5.79M | -$20.81M | -$2.62M | -$13.85M | -$60K |
| Free Cash Flow | $147.79M | $126.25M | $24.93M | $67.19M | $249.02M | $385.58M | $36.84M | -$206K |
| Cash at Beginning | $846.2M | $362.81M | $193.26M | $781M | $218.1M | $72.57M | $10.23M | $0 |
| Cash at End | $831.31M | $846.2M | $362.81M | $193.26M | $781M | $218.1M | $72.57M | $10.23M |