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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) Operating Margin (2019 - 2025)

RLX Technology filings provide 7 years of Operating Margin readings, the most recent being 10.42% for Q4 2025.

  • On a quarterly basis, Operating Margin rose 1184.0% to 10.42% in Q4 2025 year-over-year; TTM through Dec 2025 was 8.31%, a 1220.0% increase, with the full-year FY2025 number at 8.3%, up 1220.0% from a year prior.
  • Operating Margin hit 10.42% in Q4 2025 for RLX Technology, up from 8.26% in the prior quarter.
  • In the past five years, Operating Margin ranged from a high of 53.51% in Q3 2021 to a low of 197.6% in Q1 2023.
  • Median Operating Margin over the past 5 years was 6.34% (2025), compared with a mean of 6.38%.
  • Biggest five-year swings in Operating Margin: crashed -23396bps in 2023 and later soared 18825bps in 2024.
  • RLX Technology's Operating Margin stood at 28.04% in 2021, then tumbled by -595bps to 138.87% in 2022, then soared by 81bps to 27.0% in 2023, then skyrocketed by 95bps to 1.42% in 2024, then skyrocketed by 834bps to 10.42% in 2025.
  • The last three reported values for Operating Margin were 10.42% (Q4 2025), 8.26% (Q3 2025), and 4.43% (Q2 2025) per Business Quant data.