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Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginGross MarginInventory AverageInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on Sales

RLX Technology (RLX) Net Margin (2019 - 2025)

RLX Technology filings provide 7 years of Net Margin readings, the most recent being 19.5% for Q4 2025.

  • On a quarterly basis, Net Margin fell 241.0% to 19.5% in Q4 2025 year-over-year; TTM through Dec 2025 was 22.46%, a 557.0% decrease, with the full-year FY2025 number at 20.83%, up 36.0% from a year prior.
  • Net Margin hit 19.5% in Q4 2025 for RLX Technology, up from 18.3% in the prior quarter.
  • In the past five years, Net Margin ranged from a high of 91.4% in Q2 2023 to a low of 67.58% in Q4 2022.
  • Median Net Margin over the past 5 years was 33.14% (2025), compared with a mean of 30.89%.
  • Biggest five-year swings in Net Margin: crashed -10695bps in 2022 and later soared 11695bps in 2023.
  • RLX Technology's Net Margin stood at 39.37% in 2021, then plummeted by -272bps to 67.58% in 2022, then surged by 173bps to 49.37% in 2023, then plummeted by -56bps to 21.91% in 2024, then fell by -11bps to 19.5% in 2025.
  • The last three reported values for Net Margin were 19.5% (Q4 2025), 18.3% (Q3 2025), and 21.13% (Q2 2025) per Business Quant data.