RLX Technology (RLX) EBITDA Margin (2019 - 2026)
RLX Technology (RLX) posted EBITDA Margin of 15.43% for Q1 2026, up 48.07% on a QoQ basis from 10.42% in Q4 2025, and up 585.0% year-over-year from 2.25% in Q1 2025.
RLX Technology (RLX) EBITDA Margin (2019 - 2026) Analysis & Trends
RLX Technology's EBITDA Margin history runs 8 years deep, the most recent figure standing at 15.43% for Q1 2026.
- Quarterly EBITDA Margin rose 585.0% year-over-year to 15.43% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 10.53% (up 981.0% YoY) and the FY2025 annual result came in at 8.18%, up 1214.0% from the prior year.
- EBITDA Margin was 15.43% for Q1 2026 at RLX Technology, up from 10.42% in the prior quarter.
- Across five years, EBITDA Margin topped out at 44.54% in Q3 2022 and bottomed at 197.6% in Q1 2023.
- A 5-year average of 13.38% and a median of 4.43% in 2025 frame the typical range for EBITDA Margin.
- Annual changes were most pronounced in 2023 — EBITDA Margin plunged 23396 bps — and 2024, when it jumped 18825 bps.
- RLX Technology's EBITDA Margin stood at 138.87% in 2022, then soared by 81 bps to 27.0% in 2023, then jumped by 95 bps to 1.42% in 2024, then jumped by 834 bps to 10.42% in 2025, then surged by 48 bps to 15.43% in 2026.
- Business Quant data shows RLX's EBITDA Margin at 15.43% in Q1 2026, 10.42% in Q4 2025, and 8.26% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 300.23 Bn | 294.78 Bn | 6.91 Bn | 38.37% |
| 2 | British American Tobacco p.l.c | 133.32 Bn | 128.01 Bn | - | - |
| 3 | Altria | 121.70 Bn | 118.17 Bn | 3.51 Bn | 54.46% |
| 4 | RLX Technology | 2.50 Bn | 1.83 Bn | 73.10 Mn | 15.43% |
| 5 | Turning Point Brands | 1.47 Bn | 1.43 Bn | 68.30 Mn | 10.05% |
| 6 | Universal | 1.35 Bn | 1.11 Bn | 98.47 Mn | -2.09% |
| 7 | Ispire Technology | 89.38 Mn | 71.30 Mn | 1.99 Mn | -50.75% |
| 8 | Rythm | 42.81 Mn | 9.55 Mn | 10.40 Mn | -30.36% |
| 9 | VPR Brands | 11.01 Mn | 8.30 Mn | 138,574.00 | -80.07% |
| 10 | Greenlane Holdings | 8.50 Mn | -29.73 Mn | 217,000.00 | -1,243.75% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 15.43% |
| Dec 31, 2025 | 10.42% |
| Sep 30, 2025 | 8.26% |
| Jun 30, 2025 | 4.43% |
| Mar 31, 2025 | 9.58% |
| Dec 31, 2024 | -1.42% |
| Sep 30, 2024 | -1.41% |
| Jun 30, 2024 | -5.32% |
| Mar 31, 2024 | -9.35% |
| Dec 31, 2023 | -27.00% |
| Sep 30, 2023 | -9.18% |
| Jun 30, 2023 | 13.58% |
| Mar 31, 2023 | -197.60% |
| Dec 31, 2022 | -138.87% |
| Sep 30, 2022 | 44.54% |
| Jun 30, 2022 | 20.01% |
| Mar 31, 2022 | 36.36% |
| Dec 31, 2021 | 28.04% |
| Sep 30, 2021 | 53.51% |
| Jun 30, 2021 | 38.54% |