RLX Technology (RLX) Net Margin (2019 - 2026)
RLX Technology (RLX) reported Net Margin of 24.16% for Q1 2026, down 1037.0% on a YoY basis from 2.58% in Q1 2025, and down 13.6% quarter-over-quarter from 27.96% in Q4 2025.
RLX Technology (RLX) Net Margin (2019 - 2026) Analysis & Trends
RLX Technology has reported Net Margin for 8 years, with the latest figure at 24.16% in Q1 2026.
- For the quarter ending Q1 2026, Net Margin fell 1037.0% year-over-year to 24.16%; the trailing twelve-month figure through Mar 2026 stood at 26.92% (down 196.0% YoY), and the FY2025 full-year result was 23.6%, up 307.0% from the prior year.
- Net Margin for Q1 2026 stood at 24.16%, down from 27.96% in the prior quarter.
- The five-year high for Net Margin was 81.38% in Q2 2023, with the low at 75.77% in Q4 2022.
- Historically, Net Margin has averaged 26.68% across 5 years, with a median of 30.44% in 2024.
- Annual changes were most pronounced in 2022 — Net Margin sank 11533 bps — and 2023, when it surged 12306 bps.
- RLX Technology's Net Margin stood at 75.77% in 2022, then jumped by 162 bps to 47.29% in 2023, then tumbled by 53 bps to 22.13% in 2024, then grew by 26 bps to 27.96% in 2025, then decreased by 14 bps to 24.16% in 2026.
- The last three Net Margin figures came in at 24.16% (Q1 2026), 27.96% (Q4 2025), and 26.45% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 277.78 Bn | 274.30 Bn | 6.91 Bn | 9.92% |
| 2 | Altria | 120.77 Bn | 117.29 Bn | 3.51 Bn | 40.22% |
| 3 | British American Tobacco p.l.c | 45.84 Bn | 40.53 Bn | - | - |
| 4 | Turning Point Brands | 1.66 Bn | 1.49 Bn | 68.30 Mn | 9.39% |
| 5 | Universal | 1.35 Bn | 1.30 Bn | 98.47 Mn | -4.86% |
| 6 | RLX Technology | 355.86 Mn | -269.04 Mn | 73.10 Mn | 24.16% |
| 7 | Ispire Technology | 97.40 Mn | 79.11 Mn | 1.99 Mn | -50.96% |
| 8 | Rythm | 54.37 Mn | 21.11 Mn | 10.40 Mn | 52.50% |
| 9 | Greenlane Holdings | 11.69 Mn | -26.54 Mn | 217,000.00 | -4,064.96% |
| 10 | 22nd Century | 2.50 Mn | -7.04 Mn | -636,000.00 | -262.27% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 24.16% |
| Dec 31, 2025 | 27.96% |
| Sep 30, 2025 | 26.45% |
| Jun 30, 2025 | 31.30% |
| Mar 31, 2025 | 34.53% |
| Dec 31, 2024 | 22.13% |
| Sep 30, 2024 | 30.44% |
| Jun 30, 2024 | 28.34% |
| Mar 31, 2024 | 29.97% |
| Dec 31, 2023 | 47.29% |
| Sep 30, 2023 | 40.60% |
| Jun 30, 2023 | 81.38% |
| Mar 31, 2023 | -48.42% |
| Dec 31, 2022 | -75.77% |
| Sep 30, 2022 | 61.95% |
| Jun 30, 2022 | 38.06% |
| Mar 31, 2022 | 53.21% |
| Dec 31, 2021 | 39.57% |
| Sep 30, 2021 | 72.72% |
| Jun 30, 2021 | 48.50% |