RLX Technology (RLX) Net Margin (2019 - 2026)
RLX Technology's (RLX) quarterly Net Margin came in at 26.79% in Q2 2026, down 421.0% on a YoY basis from 8.35% in Q2 2025, and up 10.92% quarter-over-quarter from 24.16% in Q1 2026.
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RLX Technology (RLX) Net Margin (2019 - 2026) Analysis & Trends
RLX Technology (RLX) has reported Net Margin for 8 consecutive years, with 26.79% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Net Margin fell 421.0% year-over-year to 26.79%; the trailing twelve-month figure through Jun 2026 stood at 26.09% (down 330.0% YoY), and the FY2025 full-year result was 29.36%, down 542.0% from the prior year.
- Net Margin improved to 26.79% in Q2 2026 per RLX's latest filing, from 24.16% in the prior quarter.
- Across five years, Net Margin topped out at 84.25% in Q2 2023 and bottomed at 75.77% in Q4 2022.
- Historically, Net Margin has averaged 27.06% across 5 years, with a median of 30.03% in 2024.
- The sharpest annual moves came in 2022 and 2023: Net Margin slumped 11533 bps in 2022, then soared 12306 bps in 2023.
- Over 5 years, Net Margin stood at 75.77% in 2022, then soared by 162 bps to 47.29% in 2023, then sank by 53 bps to 22.13% in 2024, then rose by 26 bps to 27.96% in 2025, then retreated by 4 bps to 26.79% in 2026.
- According to Business Quant data, Net Margin over the past three periods registered 26.79%, 24.16%, and 27.96% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 289.42 Bn | 283.42 Bn | 7.66 Bn | 29.82% |
| 2 | British American Tobacco p.l.c | 126.98 Bn | 123.54 Bn | - | - |
| 3 | Altria | 113.23 Bn | 110.86 Bn | 3.82 Bn | 37.60% |
| 4 | RLX Technology | 2.17 Bn | 1.46 Bn | 52.74 Mn | 26.79% |
| 5 | Turning Point Brands | 1.45 Bn | 1.18 Bn | 93.70 Mn | 2.52% |
| 6 | VPR Brands | 7.34 Mn | 5.00 Mn | 161,075.00 | -7.77% |
| 7 | 22nd Century | 441,498.49 | -5.62 Mn | -293,000.00 | -759.81% |
| 8 | Cirtran | 197,816.68 | -168,530.32 | 619,024.00 | -10.27% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 26.79% |
| 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% |