RLX Technology (RLX) Net Margin (2019 - 2026)
RLX Technology (RLX) reported Net Margin of 21.89% for the quarter ended Jun 30, 2026, down 2.94 percentage points from 24.83% a year earlier but up 3.42 percentage points from the prior quarter.
RLX Technology (RLX) Net Margin (2019 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, RLX Technology's Net Margin came in at 20.70%, down 1.85 percentage points year-over-year; for the year ended Dec 31, 2025, it came in at 22.97%, up 2.44 percentage points from the prior year.
- Net Margin has a five-year change of +26.32 percentage points (years ended Dec 2020 to Dec 2025).
- By year, Net Margin came in at 20.53% in the year ended Dec 31, 2024 (-13.57 pp), 34.10% in the year ended Dec 31, 2023 (+6.97 pp), 27.14% in the year ended Dec 31, 2022 (+1.03 pp) and 26.10% in the year ended Dec 31, 2021 (+29.46 pp).
- Five-year quarterly Net Margin spans a low of -67.20% in the quarter ended Dec 31, 2022 and a high of 58.23% in the quarter ended Sep 30, 2021.
- Year over year, Net Margin gained in three of the last eight quarters, with an average year-over-year change of -5.61 percentage points.
- The high point for year-over-year Net Margin in five years was the quarter ended Dec 31, 2023 (a gain of 108.69 percentage points); the low point was the quarter ended Dec 31, 2022 (a drop of 93.16 percentage points).
- Per Business Quant data, the three quarters before the quarter ended Jun 30, 2026 came in at 18.47% (quarter ended Mar 31, 2026), 25.09% (quarter ended Dec 31, 2025) and 18.32% (quarter ended Sep 30, 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 302.14 Bn | 283.71 Bn | 7.66 Bn | 25.17% |
| 2 | British American Tobacco p.l.c | 129.64 Bn | 108.78 Bn | - | - |
| 3 | Altria | 115.45 Bn | 101.65 Bn | 3.82 Bn | 37.60% |
| 4 | Curaleaf Holdings | 2.87 Bn | 2.47 Bn | 169.91 Mn | 3.68% |
| 5 | RLX Technology | 2.63 Bn | -932.13 Mn | 52.74 Mn | 21.89% |
| 6 | Trulieve Cannabis | 2.37 Bn | 989.63 Mn | 162.29 Mn | -149.83% |
| 7 | Green Thumb Industries | 1.53 Bn | 385.54 Mn | 137.87 Mn | 1.59% |
| 8 | Cronos | 1.26 Bn | -1.96 Bn | 28.45 Mn | 45.45% |
| 9 | Turning Point Brands | 1.21 Bn | 343.16 Mn | 93.70 Mn | 2.52% |
| 10 | Verano Holdings | 871.29 Mn | 544.91 Mn | 99.70 Mn | -6.15% |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 21.89% |
| Mar 31, 2026 | 18.47% |
| Dec 31, 2025 | 25.09% |
| Sep 30, 2025 | 18.32% |
| Jun 30, 2025 | 24.83% |
| Mar 31, 2025 | 27.56% |
| Dec 31, 2024 | 15.66% |
| Sep 30, 2024 | 21.93% |
| Jun 30, 2024 | 21.52% |
| Mar 31, 2024 | 24.04% |
| Dec 31, 2023 | 41.50% |
| Sep 30, 2023 | 41.61% |
| Jun 30, 2023 | 53.63% |
| Mar 31, 2023 | -29.93% |
| Dec 31, 2022 | -67.20% |
| Sep 30, 2022 | 50.31% |
| Jun 30, 2022 | 19.77% |
| Mar 31, 2022 | 41.09% |
| Dec 31, 2021 | 25.96% |
| Sep 30, 2021 | 58.23% |
RLX Technology Net Margin 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=net-margin&ticker=RLX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "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=net-margin&ticker=RLX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();