RLX Technology (RLX) Operating Margin (2019 - 2026)

RLX Technology (RLX) has reported Operating Margin for 8 consecutive years, with 12.9% the latest figure, recorded in Q2 2026.

• For the quarter ending Q2 2026, Operating Margin rose 848.0% year-over-year to 12.9%; the trailing twelve-month figure through Jun 2026 stood at 12.1% (up 923.0% YoY), and the FY2025 full-year result was 8.3%, up 1220.0% from the prior year.
• Operating Margin fell to 12.9% in Q2 2026 per RLX's latest filing, from 15.43% in the prior quarter.
• Across five years, Operating Margin topped out at 44.54% in Q3 2022 and bottomed at 197.6% in Q1 2023.
• Historically, Operating Margin has averaged 11.92% across 5 years, with a median of 6.34% in 2025.
• The sharpest annual moves came in 2023 and 2024: Operating Margin slumped 23396 bps in 2023, then surged 18825 bps in 2024.
• Over 5 years, Operating Margin stood at 138.87% in 2022, then soared by 81 bps to 27.0% in 2023, then jumped by 95 bps to 1.42% in 2024, then jumped by 834 bps to 10.42% in 2025, then climbed by 24 bps to 12.9% in 2026.
• According to Business Quant data, Operating Margin over the past three periods registered 12.9%, 15.43%, and 10.42% for Q2 2026, Q1 2026, and Q4 2025 respectively.