RLX Technology (RLX) Invested Capital (2019 - 2026)
RLX Technology's Invested Capital was $2.32 billion in the quarter ended Jun 30, 2026, up 1.7% from $2.28 billion a year earlier but down 0.4% from the prior quarter.
RLX Technology (RLX) Invested Capital (2019 - 2026) Analysis & Trends
For the year ended Dec 31, 2025, Invested Capital at RLX Technology came in at $2.2 billion, up 0.3% from the prior year.
- Invested Capital shows a five-year compound annual growth rate of 43.2% (years ended Dec 2020 to Dec 2025).
- In earlier years, Invested Capital was $2.2 billion in the year ended Dec 31, 2024 (unchanged), $2.2 billion in the year ended Dec 31, 2023 (-3.9%), $2.29 billion in the year ended Dec 31, 2022 (+1.9%) and $2.24 billion in the year ended Dec 31, 2021 (+514.1%).
- Quarterly Invested Capital has moved between $2.15 billion (the quarter ended Mar 31, 2022) and $2.33 billion (the quarter ended Mar 31, 2026) over five years.
- Compared with a year earlier, Invested Capital was higher in three of the last four quarters, with growth averaging 2.1%.
- Per Business Quant data, RLX's Invested Capital in the three quarters before the quarter ended Jun 30, 2026 was $2.33 billion (quarter ended Mar 31, 2026), $2.23 billion (quarter ended Dec 31, 2025) and $2.29 billion (quarter ended Sep 30, 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 297.66 Bn | 279.23 Bn | 7.66 Bn | 40.53 Bn |
| 2 | British American Tobacco p.l.c | 125.80 Bn | 104.94 Bn | - | 154.98 Bn |
| 3 | Altria | 112.42 Bn | 98.63 Bn | 3.82 Bn | 21.91 Bn |
| 4 | Curaleaf Holdings | 2.73 Bn | 2.33 Bn | 169.91 Mn | 1.48 Bn |
| 5 | RLX Technology | 2.65 Bn | -916.64 Mn | 52.74 Mn | 2.32 Bn |
| 6 | Trulieve Cannabis | 2.10 Bn | 712.57 Mn | 162.29 Mn | 859.48 Mn |
| 7 | Green Thumb Industries | 1.33 Bn | 184.54 Mn | 137.87 Mn | 2.14 Bn |
| 8 | Cronos | 1.22 Bn | -2.00 Bn | 28.45 Mn | - |
| 9 | Turning Point Brands | 1.18 Bn | 308.67 Mn | 93.70 Mn | 748.17 Mn |
| 10 | Verano Holdings | 808.33 Mn | 481.94 Mn | 99.70 Mn | 1.07 Bn |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.32 Bn |
| Mar 31, 2026 | 2.33 Bn |
| Dec 31, 2025 | 2.23 Bn |
| Sep 30, 2025 | 2.29 Bn |
| Jun 30, 2025 | 2.28 Bn |
| Mar 31, 2025 | 2.24 Bn |
| Dec 31, 2024 | 2.23 Bn |
| Dec 31, 2023 | 2.17 Bn |
| Dec 31, 2022 | 2.22 Bn |
| Sep 30, 2022 | 2.28 Bn |
| Jun 30, 2022 | 2.20 Bn |
| Mar 31, 2022 | 2.15 Bn |
| Dec 31, 2021 | 2.24 Bn |
| Dec 31, 2020 | 367.07 Mn |
| Dec 31, 2019 | 64.53 Mn |
RLX Technology Invested Capital API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=invested-capital&ticker=RLX&period=max&api_key=YOUR_API_KEY
import requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "ticker": "RLX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()
const res = await fetch("https://data.businessquant.com/historic?slug=invested-capital&ticker=RLX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();