RLX Technology (RLX) Net Margin (2019 - 2026)
RLX Technology (RLX) posted Net Margin of 24.16% for Q1 2026, down 13.6% quarter-over-quarter from 27.96% in Q4 2025, and down 1031.0% year-on-year from 2.59% in Q1 2025.
RLX Technology (RLX) Net Margin (2019 - 2026) Analysis & Trends
RLX Technology (RLX) has reported Net Margin for 8 consecutive years, with 24.16% the latest figure, recorded in Q1 2026.
- Net Margin for Q1 2026 came in at 24.16%, down 1031.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 26.83% (down 187.0% YoY), and the FY2025 annual result was 22.97%, up 244.0% from the prior year.
- Net Margin was 24.16% for Q1 2026 at RLX Technology, down from 27.96% in the prior quarter.
- Over five years, Net Margin peaked at 84.25% in Q2 2023 and troughed at 75.77% in Q4 2022.
- Average Net Margin over 5 years is 27.09%, with a median of 30.26% recorded in 2024.
- Year-over-year, Net Margin tumbled 11533 bps in 2022 and jumped 12306 bps in 2023.
- Over 5 years, Net Margin stood at 75.77% in 2022, then jumped by 162 bps to 47.29% in 2023, then slumped by 53 bps to 22.13% in 2024, then gained by 26 bps to 27.96% in 2025, then declined by 14 bps to 24.16% in 2026.
- Per Business Quant data, the three most recent Net Margin figures were 24.16% in Q1 2026, 27.96% in Q4 2025, and 26.31% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Altria | 66.91 Bn | 63.43 Bn | 3.51 Bn | 40.22% |
| 2 | RLX Technology | 2.38 Bn | 1.75 Bn | 73.10 Mn | 24.16% |
| 3 | Turning Point Brands | 1.68 Bn | 1.51 Bn | 68.30 Mn | 9.39% |
| 4 | Universal | 1.30 Bn | 1.29 Bn | 98.47 Mn | -4.86% |
| 5 | Ispire Technology | 65.31 Mn | 47.02 Mn | 1.99 Mn | -50.96% |
| 6 | Rythm | 54.80 Mn | 21.54 Mn | 10.40 Mn | 52.50% |
| 7 | Greenlane Holdings | 9.60 Mn | -28.63 Mn | 217,000.00 | -4,064.96% |
| 8 | VPR Brands | 4.59 Mn | 1.87 Mn | 138,574.00 | 334.54% |
| 9 | Lftd Partners | 2.96 Mn | 873,406.64 | -1.71 Mn | -45.46% |
| 10 | 22nd Century | 128,296.63 | -9.42 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 | 26.31% |
| Jun 30, 2025 | 31.00% |
| Mar 31, 2025 | 34.47% |
| Dec 31, 2024 | 22.13% |
| Sep 30, 2024 | 29.81% |
| Jun 30, 2024 | 28.34% |
| Mar 31, 2024 | 30.26% |
| Dec 31, 2023 | 47.29% |
| Sep 30, 2023 | 42.44% |
| Jun 30, 2023 | 84.25% |
| Mar 31, 2023 | -48.60% |
| Dec 31, 2022 | -75.77% |
| Sep 30, 2022 | 64.42% |
| Jun 30, 2022 | 38.66% |
| Mar 31, 2022 | 53.15% |
| Dec 31, 2021 | 39.57% |
| Sep 30, 2021 | 72.43% |
| Jun 30, 2021 | 48.46% |