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RLX Technology Inc.

RLXConsumer DefensiveNASDAQ

Tobacco

PriceMA150MA200
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Financials · Annual
Revenue
$3.62B
+48.0% YoY
Net Income
$921.9M
+67.1% YoY
EBITDA
$420.1M
+1440.0% YoY
Free Cash Flow
-$280.8M

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About RLX Technology Inc.

RLX Technology Inc., through its subsidiaries, develops, manufactures, and sells e-vapor products in the People's Republic of China and internationally. At a $2.52B market cap, RLX Technology Inc. ranks as a mid-cap company within consumer defensive. It offers rechargeable e-vapor products under the Qingyu, Phantom, Phantom Pro, Zeus, Leili, and Daqian names; and disposable e-vapor products under the Feiliu and Feiliu Mega names.

Key stats
Market Cap$2.52B
P/E (TTM)18.73
Fwd P/E12.34
EPS$0.11
Beta1.15
52W Change-0.5%
Dividend Yield4.85%
ROE6.2%
Analysis

RLX Technology Inc. holds $9.50B in cash against $211.6M in total debt, giving it a net cash position. This means the company could theoretically pay off all its debt and still have cash remaining. Free cash flow is running at -$280.8M, which bears watching. Negative free cash flow can be acceptable during heavy investment periods but needs to improve over time. Return on equity stands at 6.2%, which is modest for the sector. ROE measures how effectively a company uses shareholder capital to generate profits. ROA of 1.8% is on the lower side, which is common in asset-heavy industries. Revenue has been uneven over recent years, ranging from $5.28B to $3.62B.

With cash comfortably exceeding debt, RLX has financial flexibility that may help navigate uncertain periods. Negative free cash flow means the company is currently spending more than it generates, which may require future fundraising or debt if the trend continues. These risk factors are not exhaustive — macroeconomic shifts, regulatory changes, and competitive dynamics can all influence RLX Technology Inc.'s trajectory.

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