RLX Technology (RLX) Operating Margin (2019 - 2026)
RLX Technology (RLX) posted Operating Margin of 15.43% for Q1 2026, up 48.07% quarter-over-quarter from 10.42% in Q4 2025, and up 585.0% year-on-year from 2.25% in Q1 2025.
RLX Technology (RLX) Operating Margin (2019 - 2026) Analysis & Trends
RLX Technology (RLX) has reported Operating Margin for 8 consecutive years, with 15.43% the latest figure, recorded in Q1 2026.
- Operating Margin for Q1 2026 came in at 15.43%, up 585.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 10.53% (up 981.0% YoY), and the FY2025 annual result was 8.3%, up 1220.0% from the prior year.
- Operating Margin was 15.43% for Q1 2026 at RLX Technology, up from 10.42% in the prior quarter.
- Over five years, Operating Margin peaked at 44.54% in Q3 2022 and troughed at 197.6% in Q1 2023.
- Average Operating Margin over 5 years is 13.38%, with a median of 4.43% recorded in 2025.
- Year-over-year, Operating Margin tumbled 23396 bps in 2023 and soared 18825 bps in 2024.
- Over 5 years, Operating Margin stood at 138.87% in 2022, then jumped by 81 bps to 27.0% in 2023, then surged by 95 bps to 1.42% in 2024, then surged by 834 bps to 10.42% in 2025, then soared by 48 bps to 15.43% in 2026.
- Per Business Quant data, the three most recent Operating Margin figures were 15.43% in Q1 2026, 10.42% in Q4 2025, and 8.26% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Altria | 66.91 Bn | 63.43 Bn | 3.51 Bn | 54.46% |
| 2 | RLX Technology | 2.38 Bn | 1.75 Bn | 73.10 Mn | 15.43% |
| 3 | Turning Point Brands | 1.68 Bn | 1.51 Bn | 68.30 Mn | 10.05% |
| 4 | Universal | 1.30 Bn | 1.29 Bn | 98.47 Mn | -2.09% |
| 5 | Ispire Technology | 65.31 Mn | 47.02 Mn | 1.99 Mn | -50.75% |
| 6 | Rythm | 54.80 Mn | 21.54 Mn | 10.40 Mn | -30.36% |
| 7 | Greenlane Holdings | 9.60 Mn | -28.63 Mn | 217,000.00 | -1,243.75% |
| 8 | VPR Brands | 4.59 Mn | 1.87 Mn | 138,574.00 | -80.07% |
| 9 | Lftd Partners | 2.96 Mn | 873,406.64 | -1.71 Mn | -49.85% |
| 10 | 22nd Century | 128,296.63 | -9.42 Mn | -636,000.00 | -74.03% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 15.43% |
| Dec 31, 2025 | 10.42% |
| Sep 30, 2025 | 8.26% |
| Jun 30, 2025 | 4.43% |
| Mar 31, 2025 | 9.58% |
| Dec 31, 2024 | -1.42% |
| Sep 30, 2024 | -1.41% |
| Jun 30, 2024 | -5.32% |
| Mar 31, 2024 | -9.35% |
| Dec 31, 2023 | -27.00% |
| Sep 30, 2023 | -9.18% |
| Jun 30, 2023 | 13.58% |
| Mar 31, 2023 | -197.60% |
| Dec 31, 2022 | -138.87% |
| Sep 30, 2022 | 44.54% |
| Jun 30, 2022 | 20.01% |
| Mar 31, 2022 | 36.36% |
| Dec 31, 2021 | 28.04% |
| Sep 30, 2021 | 53.51% |
| Jun 30, 2021 | 38.54% |