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RLX Technology Inc. (RLX) stock

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NYSE: RLX NYSE Tobacco Next results ~November 13, 2026

B Fundamentals grade

RLX Technology Inc. is a US-listed company in the tobacco industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$2.5

Cash-flow model

Base case. Range ~$2.1–$3.0 across our lower- and higher-growth cases (6.2%–16.2% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 52% above it.

Price used: $1.66, November 2, 2026

RLX Technology Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds40 adding, 59 cuttingOf 19 active managers that changed their stake, 8 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter RLX Technology files

Where RLX Technology stands after its latest Filing

Revenue for the twelve months was $551m, up 44.2% on a year earlier, slower than the 70.4% growth a quarter earlier. Free-cash-flow margin rose to 24.9% from 19.6% a year earlier. Operating margin narrowed to 8.3% from 27.0%. The diluted share count is down 5.0% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 3 of our 3 financial-health checks. Our cash-flow model value is $2.52 a share, against a share price of $1.61. At that price, our model says the market is pricing in cash flow shrinking about 2.9% a year for five years, slower than the -0.1% a year revenue growth it has delivered.

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 13, 2026 (estimated)

RLX Technology Inc.'s trailing-twelve-month revenue grew 44.2% year on year, with a free-cash-flow margin of 24.9%. Where it stands out: revenue growth of 44.2% ranks 1 of 7 tobacco companies we cover. Where it lags: change in growth rate of -26.2pp ranks 7 of 7 tobacco companies we cover.

Our discounted-cash-flow model values the business at ~$2.5 per share in the base case (~$2.1–$3.0 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 17.0% while net income grew 67.3%: a 50pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $1.66 is 52% below our value per share of $2.
  • Fast growth. Revenue grew 44.2% over the last 12 months, against a median of 2.2% for tobacco companies we cover.
  • Margins widening. Operating margin is up 12.2 points on a year ago.
  • Strong cash generation. 24.9% of revenue turned into free cash flow, against a median of 22.0% for tobacco companies we cover.
  • Shrinking share count. Diluted shares fell 5.0% in a year, so each share owns more of the business.

Things to watch

  • Growth slowing. The growth rate is 26.2 points lower than a quarter earlier.
  • Below peers: gross margin. Gross margin of 29.9% ranks 5 of 6 tobacco companies we cover (median 59.2%).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results

Earnings per share
$0.18 against an average estimate of $0.63: missed by 71.6%
Next report
November 13, 2026

RLX Technology's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.1%
  • 1 week+0.6%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$551M
Operating margin
8.3%
Net margin
23.3%
EPS (TTM, diluted)
$0.10

Growth

Revenue growth
+44.2%
Change in growth rate
−26.2 pts
Share count change
−5.0%

Cash

Free cash flow (TTM)
$137M
FCF margin
24.9%
Stock pay % of revenue
4.7%

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for RLX from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

RLX Technology Inc. valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 2.0% a year for five years.That is close to the -0.1% a year revenue growth RLX Technology has delivered.

  • Priced in-2.0%
  • Last 12 months44.2%
  • 3 years a year-11.5%
  • 5 years a year-0.1%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($1.65, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$2.5
Price used
$1.65close November 3, 2026
Implied change
▲ +53%
Uncertainty
Low

How we got here: a discounted-cash-flow model of RLX Technology Inc.'s free cash flow after stock-based pay with after-tax interest added back ($71.9M, FY2025 Q4 TTM), growing 11.2% a year for five years and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$2.1–~$3.0 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of RLX Technology Inc.'s free cash flow after stock-based pay ( $71.9M, FY2025 Q4 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value RLX Technology Inc. as an operating company, with every model that fits that kind of business. Cost of equity 7%: the 10-year Treasury yield (4.9%) plus a beta of 0.37 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$2.5 ~$2.1–$3.0 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$2.2 ~$1.5–$3.0 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$2.8 ~$1.8–$4.8 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$3.1 ~$2.5–$4.1 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$2.6 ~$2.2–$3.1 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare RLX Technology Inc. with Tobacco in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −20%
  • Revenue growth 5 points higher ▲ +26%
  • Free-cash-flow margin 1 point lower ▼ −3%
  • Last year's free-cash-flow margin change, if it persists ▼ −16%
  • Discount rate 1 point higher ▼ −14%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $2$2$2$3$4$5
8.5% $2$2$2$2$3$4
10% $1$2$2$2$2$3

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 13, 2026, before the open.

Analysts' consensus

No analyst estimates are published for RLX Technology Inc.: too few analysts cover it.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.63 $0.18 −71.6%
Mar 2026 $0.21 $0.26 +22.9%
Dec 2025 $0.23 $0.20 −13.9%
Sept 2025 $0.22 $0.22 +2.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

6 analysts, Nov 2026
Buy583%
Hold117%
Sell00%

Monthly trend

  1. Nov 2026516
  2. Oct 2026516

Counts of recommendations published by analysts covering RLX Technology Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
1.9%
of tradable shares
Days to cover
2.31
at average volume
Short interest, 1 month
−13%
to October 15, 2026
Held by institutions
30%
of shares
Held by insiders
89.4%
of shares
Employees
897
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
—
vs 200-day average
—
Volatility (1 year)
—
Beta vs S&P 500
—

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

RLX Technology Inc. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) RLX Technology Inc.
$0 $500M $1B $1.5B FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 Revenue (TTM), FY18 Q4: $20.1M Revenue (TTM), FY19 Q4: $224.4M Revenue (TTM), FY20 Q4: $553.6M Revenue (TTM), FY21 Q4: $1.3B Revenue (TTM), FY22 Q4: $794.1M Revenue (TTM), FY23 Q4: $224.2M Revenue (TTM), FY24 Q4: $382M Revenue (TTM), FY25 Q4: $550.9M $550.9M

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY18 Q4 $20.1M
FY19 Q4 $224.4M
FY20 Q4 $553.6M
FY21 Q4 $1.3B
FY22 Q4 $794.1M
FY23 Q4 $224.2M
FY24 Q4 $382M
FY25 Q4 $550.9M
Revenue growth, TTM YoY RLX Technology Inc.
-500% 0% 500% 1000% 1500% FY19 Q4 FY21 Q4 FY23 Q4 FY25 Q4 Revenue growth, TTM YoY, FY19 Q4: 1016.5% Revenue growth, TTM YoY, FY20 Q4: 146.7% Revenue growth, TTM YoY, FY21 Q4: 138.6% Revenue growth, TTM YoY, FY22 Q4: -39.9% Revenue growth, TTM YoY, FY23 Q4: -71.8% Revenue growth, TTM YoY, FY24 Q4: 70.4% Revenue growth, TTM YoY, FY25 Q4: 44.2% 44.2%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue growth, TTM YoY
FY19 Q4 1016.5%
FY20 Q4 146.7%
FY21 Q4 138.6%
FY22 Q4 -39.9%
FY23 Q4 -71.8%
FY24 Q4 70.4%
FY25 Q4 44.2%
Operating margin (TTM) RLX Technology Inc.
-40% -20% 0% 20% 40% FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 Operating margin (TTM), FY18 Q4: 1.7% Operating margin (TTM), FY19 Q4: 3.6% Operating margin (TTM), FY20 Q4: 0.3% Operating margin (TTM), FY21 Q4: 27.0% Operating margin (TTM), FY22 Q4: 19.9% Operating margin (TTM), FY23 Q4: -31.3% Operating margin (TTM), FY24 Q4: -3.9% Operating margin (TTM), FY25 Q4: 8.3% 8.3%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY18 Q4 1.7%
FY19 Q4 3.6%
FY20 Q4 0.3%
FY21 Q4 27.0%
FY22 Q4 19.9%
FY23 Q4 -31.3%
FY24 Q4 -3.9%
FY25 Q4 8.3%
FCF margin (TTM) RLX Technology Inc.
-20% 0% 20% 40% 60% 80% FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 FCF margin (TTM), FY18 Q4: -0.8% FCF margin (TTM), FY19 Q4: 16.3% FCF margin (TTM), FY20 Q4: 67.5% FCF margin (TTM), FY21 Q4: 19.6% FCF margin (TTM), FY22 Q4: 8.4% FCF margin (TTM), FY23 Q4: 10.7% FCF margin (TTM), FY24 Q4: 30.7% FCF margin (TTM), FY25 Q4: 24.9% 24.9%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period FCF margin (TTM)
FY18 Q4 -0.8%
FY19 Q4 16.3%
FY20 Q4 67.5%
FY21 Q4 19.6%
FY22 Q4 8.4%
FY23 Q4 10.7%
FY24 Q4 30.7%
FY25 Q4 24.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 20 224 554 1,321 794 224 382 551
Gross profit 9 84 221 569 343 55 101 165
EBITDA 0 9 5 363 170 −65 −11 50
Operating income 0 8 2 356 158 −70 −15 46
Net income −0 7 −19 314 215 76 77 128
Diluted EPS $0.00 $0.00 −$0.01 $0.22 $0.16 $0.06 $0.06 $0.10
Growth (year on year)
Revenue — +>999% +146.7% +138.6% −39.9% −71.8% +70.4% +44.2%
EBITDA — — −44.1% — −53.2% −138.2% — —
Operating income — — −76.7% — −55.6% −144.3% — —
Net income — — −368.5% — −31.6% −64.8% +1.6% +67.3%
Diluted EPS — — −369.9% — −27.4% −65.1% +5.5% +63.3%
Margins
Gross margin 44.7% 37.5% 40.0% 43.1% 43.2% 24.4% 26.4% 29.9%
EBITDA margin 1.7% 3.8% 0.9% 27.5% 21.4% −28.9% −2.9% 9.1%
Operating margin 1.7% 3.6% 0.3% 27.0% 19.9% −31.3% −3.9% 8.3%
Net margin −0.2% 3.1% −3.4% 23.8% 27.0% 33.7% 20.1% 23.3%
Free-cash-flow margin −0.8% 16.3% 67.5% 19.6% 8.4% 10.7% 30.7% 24.9%
Cash flow
Cash from operations −0 49 375 279 72 28 119 154
Capital spending 0 12 2 20 6 4 1 16
Free cash flow −0 37 373 259 67 24 117 137
Stock-based pay 1 8 135 35 25 51 51 26
Free cash flow after stock pay −1 29 239 224 42 −27 66 111
Balance sheet
Cash 10 19 171 817 184 337 766 767
Total debt 0 50 142 123 31 22 22 14
Net debt (negative = net cash) −10 31 −29 −695 −152 −315 −744 −753
Diluted shares 1,194m 1,437m 1,437m 1,410m 1,328m 1,340m 1,289m 1,224m
Returned to shareholders
Dividends — 5 — — — 13 12 13
Buybacks — — — 20 75 141 82 26
Total returned — 5 — 20 75 154 94 38

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 3 checks passed · December 31, 2025
What it owns · $2.6bn
Short-term assets $1.6bnLonger-term assets $962m
What it owes, and who funded it · $2.5bn
Short-term liabilities $281mLonger-term liabilities $33mShareholders' equity $2.2bn
  • Short-term assets cover short-term liabilities $1.6bn of assets due within a year against $281m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.6bn short-term assets against $33m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of $46m against $889,845 of interest.

From RLX Technology Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2025 Q4 TTM
Buybacks (TTM)
$25.6M
Dividends (TTM)
$12.7M
Returned to shareholders
28%
of free cash flow
Buybacks, last 3 fiscal years
$248M
Diluted share count
−5.0%
year over year
Total shareholder yield
1.9%
dividends 0.6% + buybacks 1.3% of market value
Dividend payout ratio
10%
of net income paid out
R&D spending
3.3%
of revenue

Competitors: side by side with peers

Closest by revenue in tobacco
Last 12 months unless stated RLX TPB UVV XXII MO BTI Median
Revenue, last 12 months $551m $507m $2.8bn $15m $23.5bn $33.8bn $2.8bn
Revenue growth, last 12 months 44.2% 24.5% −3.6% −27.4% 0.5% 2.2% 2.2%
Revenue growth, 3-year average — 11.1% 2.2% −27.7% −1.5% — −1.5%
Revenue growth, latest quarter — 22.6% −12.2% −29.9% 1.0% — 1.0%
Gross margin 29.9% 59.2% 15.6% 45.0% 63.3% — 52.1%
Operating margin 8.3% 14.8% 4.9% −85.0% 47.0% 39.0% 14.8%
Operating margin, 3-year average — 20.6% 7.2% −82.6% 47.0% 37.2% 28.8%
Net margin 23.3% 8.8% 0.7% −27.0% 34.5% 30.3% 23.3%
Cash from operations / revenue 27.9% 6.4% 7.7% −57.6% 40.1% 24.8% 24.8%
Free-cash-flow margin 24.9% 3.9% 5.8% −60.3% 38.6% 22.0% 22.0%
Free-cash-flow margin, 3-year average — 12.4% 2.2% −73.2% 37.7% 26.4% 19.4%
Stock pay / revenue 4.7% 1.8% 0.2% 5.5% — — 3.3%
Change in share count −5.0% 5.8% 0.1% 19.6% −0.8% −1.2% 0.1%

Median of all 7 companies we cover in tobacco. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

7 tobacco companies
Measure Company Peer median Rank
Revenue growth Growth 44.2% 2.2% 1 of 7
Change in growth rate Growth -26.2pp -0.7pp 7 of 7
Gross margin Profitability 29.9% 59.2% 5 of 6
Operating margin Profitability 8.3% 14.8% 5 of 7
Net margin Profitability 23.3% 23.3% 4 of 7
Free-cash-flow margin Cash generation 24.9% 22.0% 3 of 7
Change in share count Balance sheet -5.0% 0.1% 1 of 6

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$505M
Institutions reporting
104
Shares held vs prior quarter
▼ 0.4%
Positions opened / closed
13 / 12

Top buyers and sellers, Q2 2026: 40 institutions bought and 59 sold ; the biggest buyer was Nomura Holdings Inc (+20.2M shares) and the biggest seller Olp Capital Management Ltd (−13.1M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
First Beijing Investment Ltd $114M 59.8M 22.5% ▼ 0.5%
Idg China Venture Capital Fund V Associates L.P. $105M 55.1M 20.7% ▼ 3.6%
Nomura Holdings Inc $42.9M 22.6M 8.5% ▲ 856.0%
Vanguard Capital Management LLC $39.8M 20.9M 7.9% ▼ 2.5%
Olp Capital Management Ltd $25.3M 13.3M 5.0% ▼ 49.5%
Blackrock, Inc. $18.3M 9.6M 3.6% ▲ 1.2%
D. E. Shaw & Co., Inc. $18.1M 9.6M 3.6% ▼ 0.6%
Aspex Management (HK) Ltd $15M 7.9M 3.0% 0.0%
Perseverance Asset Management International $14M 7.4M 2.8% ▼ 1.8%
Oasis Management Co Ltd. $12.3M 6.5M 2.4% 0.0%
Barclays PLC $11.5M 6.0M 2.3% 0.0%
Vanguard Fiduciary Trust Co $10.7M 5.6M 2.1% ▲ 0.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not RLX Technology Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on RLX Technology Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

RLX Technology Inc. in brief

What does RLX Technology Inc. do?
RLX Technology Inc. is a US-listed company in the tobacco industry. Its financial year ends in December.
What is RLX Technology Inc.'s stock ticker?
RLX Technology Inc. trades under the ticker RLX on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is RLX Technology Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, RLX Technology Inc. reported revenue of $551M, 44.2% higher than a year earlier, according to its SEC filings.
What is RLX Technology Inc.'s free cash flow?
RLX Technology Inc.'s free-cash-flow margin is 24.9% of revenue over the trailing twelve months, ranking 3 of the 7 tobacco companies we cover.
What is RLX Technology Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of RLX Technology Inc.'s free cash flow after stock-based pay gives ~$2.5 per share in the base case, and ~$2.1–$3.0 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are RLX Technology Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are First Beijing Investment Ltd, Idg China Venture Capital Fund V Associates L.P. and Nomura Holdings Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is RLX Technology Inc. buying back stock, and does it pay a dividend?
RLX Technology Inc. spent $25.6M on share repurchases over the trailing twelve months, and its diluted share count fell 5.0% over the year.
Does RLX Technology Inc. pay a dividend?
Yes: RLX Technology Inc. paid $12.7M in dividends over the trailing twelve months, a dividend yield of 0.63% and a payout ratio of 9.9%.
Who are RLX Technology Inc.'s competitors?
In our Tobacco peer group, the companies closest to RLX Technology Inc. are Turning Point Brands, Inc., Universal Corp, 22nd Century Group, Inc., Altria and British American Tobacco P.l.c. The side-by-side comparison below sets their revenue, margins and growth against RLX Technology Inc.'s.
When is RLX Technology Inc.'s next earnings date?
Around November 13, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — RLX Technology Inc. announces its own schedule.