RLX Technology
Financial ratios & Valuation

Forward Multiples (2025 – 2026)

20252026
Price/Earnings ratio
0.350.30
Price/Sales ratio
0.120.10
Earnings per Share (EPS)
$6.34$7.31

Historical Multiples (2018 – 2023)

2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
-1.09M6.68K-2.33K17.1414.5235.5729.28-2.33K
Price/Sales ratio
2.37K205.9678.304.073.9215.278.568.56
Price/Book Value ratio
47.58K3.00K198.252.561.341.211.212.56
Price/Cash Flow ratio
-322.57K943.77115.5019.2843.0095.6627.9619.28
Price/Free Cash Flow ratio
-229.37K1.29K116.2920.9046.71114.3129.3920.90
Price/Earnings Growth ratio
N/A-0.436.33-0.00-0.58-0.560.040.04
Dividend Yield
N/A0.01%N/A0.93%0.00%0.48%0.37%0.93%
Profitability Indicator Ratios
Gross Profit Margin
44.67%37.49%39.99%43.09%43.22%31.16%28.89%43.09%
Operating Profit Margin
1.66%3.63%0.34%26.97%19.94%-39.92%-10.36%26.97%
Pretax Profit Margin
1.58%4.75%2.68%31.21%33.38%47.56%33.24%2.68%
Net Profit Margin
-0.21%3.08%-3.35%23.76%27.02%42.95%29.03%-3.35%
Effective Tax Rate
113.67%35.18%225.06%23.74%20.87%8.57%11.39%23.74%
Return on Assets
-0.27%3.30%-3.15%12.37%8.79%3.27%3.94%-3.15%
Return On Equity
-4.33%44.92%-8.49%14.98%9.25%3.42%4.15%-8.49%
Return on Capital Employed
27.62%6.84%0.84%16.86%6.82%-3.17%-1.47%16.86%
Liquidity Ratios
Current Ratio
N/AN/A1.54N/AN/AN/A12.421.54
Quick Ratio
0.921.551.414.8814.0113.2112.301.41
Cash ratio
0.690.210.441.901.603.574.550.44
Days of Sales Outstanding
53.0120.255.211.114.0748.3261.555.21
Days of Inventory outstanding
70.4082.6552.4044.3415.7861.7418.7444.34
Operating Cycle
123.42102.9157.6245.4519.85110.0680.3057.62
Days of Payables Outstanding
85.7456.7185.3138.096.3246.6381.1281.12
Cash Conversion Cycle
37.6746.20-27.697.3513.5263.42-0.82-27.69
Debt Ratios
Debt Ratio
-0.48-0.100.01N/AN/AN/AN/AN/A
Debt Equity Ratio
-7.69-1.410.03N/AN/AN/AN/AN/A
Long-term Debt to Capitalization
N/AN/A0.03N/AN/AN/AN/AN/A
Total Debt to Capitalization
1.143.430.03N/AN/AN/AN/AN/A
Interest Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/A
Cash Flow to Debt Ratio
0.01-2.2552.36N/AN/AN/AN/AN/A
Company Equity Multiplier
15.9613.582.691.211.051.041.041.21
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
-0.000.210.670.210.090.150.300.30
Free Cash Flow / Operating Cash Flow Ratio
1.400.720.990.920.920.830.950.95
Cash Flow Coverage Ratio
0.01-2.2552.36N/AN/AN/AN/AN/A
Short Term Coverage Ratio
0.01-2.25N/AN/AN/AN/AN/AN/A
Dividend Payout Ratio
N/A75.39%N/A16.07%0.04%17.28%14.27%16.07%