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.
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Analysis
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 Set
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
Download Data
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 |
API Access
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_KEYimport 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();