RLX Technology Inc. RLX

Consumer staples SIC 2111 - Cigarettes NAICS Manufacturing › Beverage and Tobacco Product Manufacturing › Tobacco Manufacturing derived NYSE

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No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.

Valuation FY2025 figures against the last close

P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS0.10

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Revenue $566.1M$376.6M$223.4M$773.2M$1.34B$585.4M——
Cost of revenue $348.0M$235.4M$120.6M$431.3M$760.9M$351.3M——
Gross profit $169.3M$99.5M$54.6M$334.2M$576.2M$234.1M——
R&D $18.7M$12.1M$24.3M$46.0M$28.2M$45.9M——
SG&A $48.2M$70.7M$70.1M$83.6M$105.6M$118.3M——
Total operating expenses $122.3M$114.2M$124.6M$180.0M$215.5M$232.1M——
Operating income $47.0M-$14.7M-$70.0M$154.2M$360.7M$2.0M——
Interest expense $914.0K$24.0K—$203.0K————
Pre-tax income $150.6M$90.3M$83.3M$258.1M$417.3M$15.7M——
Income tax $17.0M$12.9M$7.1M$53.9M$99.1M$35.3M——
Net income $131.8M$75.6M$75.3M$209.0M$317.7M-$19.6M——
EPS, basic 0.100.060.060.160.23-0.01——
EPS, diluted 0.100.060.060.160.23-0.01——
Shares, diluted (wtd. avg.) 1.22B1.29B1.34B1.33B1.41B1.44B1.44B1.19B

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Cash and equivalents $767.5M$807.1M$331.5M$181.6M$755.3M$228.3M$74.2M—
Short-term investments $332.7M$98.6M$435.7M$353.0M$568.3M$225.8M——
Inventory $42.6M$19.5M$20.4M$19.0M$92.4M$50.4M——
Total current assets $1.60B$1.27B$1.27B$1.62B$2.19B$592.6M——
Property, plant and equipment $35.2M$7.0M$10.9M$12.7M$22.5M$11.4M——
Goodwill $81.1M$8.2M$9.4M—————
Other intangibles $30.5M$7.2M$9.8M$1.1M$1.3M$826.0K——
Total assets $2.56B$2.31B$2.30B$2.37B$2.57B$622.2M——
Short-term debt $13.2M$5.5M——————
Total current liabilities $281.0M$117.5M$94.2M$114.5M$429.6M$382.6M——
Total liabilities $314.3M$120.7M$100.9M$121.6M$446.7M$391.0M——
Retained earnings $589.1M$578.1M$530.4M$482.0M$299.5M-$12.5M——
Total equity $2.24B$2.19B$2.20B$2.26B$2.12B$231.2M——

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Operating cash flow $157.9M$117.0M$28.0M$70.6M$282.4M$396.8M——
Depreciation and amortisation $4.4M$3.8M$5.3M$11.0M$6.4M$3.0M——
Stock-based compensation $26.6M$50.6M$51.1M$24.1M$35.0M$142.4M——
Capital expenditure $16.8M$1.4M$4.0M$5.6M$20.5M$1.9M——
Investing cash flow -$117.6M$413.5M$294.5M-$599.2M-$1.24B-$277.8M——
Financing cash flow -$40.4M-$92.9M-$168.1M-$69.2M$1.55B$26.8M——
Dividends paid $13.1M$12.2M$13.0M—————
Buybacks $26.3M$80.7M$140.4M$72.5M$20.0M———

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-047278.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -500M 0 500M 1B 1.5B Revenue, FY2020: 585.4M Gross profit, FY2020: 234.1M Net income, FY2020: -19.6M Revenue, FY2021: 1.3B Gross profit, FY2021: 576.2M Net income, FY2021: 317.7M Revenue, FY2022: 773.2M Gross profit, FY2022: 334.2M Net income, FY2022: 209M Revenue, FY2023: 223.4M Gross profit, FY2023: 54.6M Net income, FY2023: 75.3M Revenue, FY2024: 376.6M Gross profit, FY2024: 99.5M Net income, FY2024: 75.6M Revenue, FY2025: 566.1M Gross profit, FY2025: 169.3M Net income, FY2025: 131.8M FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — — $585.4M $1.34B $773.2M $223.4M $376.6M $566.1M
Gross profit — — $234.1M $576.2M $334.2M $54.6M $99.5M $169.3M
Net income — — -$19.6M $317.7M $209.0M $75.3M $75.6M $131.8M

Others in SIC 2111

TickerCompanyMarket capP/ERevenue growth
PM Philip Morris International Inc. $310.90B 27.5x 7.3%
MO ALTRIA GROUP, INC. $124.08B 18.0x -3.1%
ISPR Ispire Technology Inc. $78.1M — -16.1%
XXII 22nd Century Group, Inc. $41.4K — -27.9%
BTI British American Tobacco p.l.c. — — —