RLX Technology Inc (RLX) - Net Assets
Based on the latest financial reports, RLX Technology Inc (RLX) has net assets worth $16.19 Billion USD as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($17.43 Billion) and total liabilities ($1.24 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check RLX Technology Inc tangible book value ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $16.19 Billion |
| % of Total Assets | 92.89% |
| Annual Growth Rate | 266.16% |
| 5-Year Change | 6831.51% |
| 10-Year Change | N/A |
| Growth Volatility | 2094.93 |
RLX Technology Inc - Net Assets Trend (2018–2024)
This chart illustrates how RLX Technology Inc's net assets have evolved over time, based on quarterly financial data. See RLX days of operational coverage to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for RLX Technology Inc (2018–2024)
The table below shows the annual net assets of RLX Technology Inc from 2018 to 2024. For live valuation and market cap data, see RLX Technology Inc (RLX) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $15.99 Billion | +2.51% |
| 2023-12-31 | $15.60 Billion | +0.37% |
| 2022-12-31 | $15.54 Billion | +14.95% |
| 2021-12-31 | $13.52 Billion | +5760.27% |
| 2020-12-31 | $230.68 Million | +117.05% |
| 2019-12-31 | $106.28 Million | +1504.71% |
| 2018-12-31 | $6.62 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to RLX Technology Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 424812499900.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $4.25 Billion | 26.56% |
| Common Stock | $104.00K | 0.00% |
| Other Comprehensive Income | $1.12 Billion | 7.02% |
| Other Components | $10.62 Billion | 66.41% |
| Total Equity | $15.99 Billion | 100.00% |
RLX Technology Inc Competitors by Market Cap
The table below lists competitors of RLX Technology Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Westshore Terminals Investment Corp
TO:WTE
|
$1.79 Billion |
|
Dno ASA
OL:DNO
|
$1.79 Billion |
|
Kingsignal Technology Co Ltd
SHE:300252
|
$1.79 Billion |
|
Hunan Oil Pump
SHG:603319
|
$1.80 Billion |
|
Hanall Biopharma
KO:009420
|
$1.79 Billion |
|
Jiangxi Ganneng Co Ltd
SHE:000899
|
$1.79 Billion |
|
Chalet Hotels Limited
NSE:CHALET
|
$1.79 Billion |
|
UFP Technologies Inc
NASDAQ:UFPT
|
$1.79 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in RLX Technology Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 15,609,393,000 to 15,988,216,000, a change of 378,823,000 (2.4%).
- Net income of 551,837,000 contributed positively to equity growth.
- Dividend payments of 88,839,000 reduced retained earnings.
- Share repurchases of 589,357,000 reduced equity.
- Other comprehensive income increased equity by 141,631,000.
- Other factors increased equity by 363,551,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $551.84 Million | +3.45% |
| Dividends Paid | $88.84 Million | -0.56% |
| Share Repurchases | $589.36 Million | -3.69% |
| Other Comprehensive Income | $141.63 Million | +0.89% |
| Other Changes | $363.55 Million | +2.27% |
| Total Change | $- | 2.43% |
Book Value vs Market Value Analysis
This analysis compares RLX Technology Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.16x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 462.03x to 0.16x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2018-12-31 | $0.00 | $1.97 | x |
| 2019-12-31 | $0.07 | $1.97 | x |
| 2020-12-31 | $0.15 | $1.97 | x |
| 2021-12-31 | $9.59 | $1.97 | x |
| 2022-12-31 | $11.72 | $1.97 | x |
| 2023-12-31 | $11.64 | $1.97 | x |
| 2024-12-31 | $12.40 | $1.97 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently RLX Technology Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 3.45%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 22.57%
- • Asset Turnover: 0.14x
- • Equity Multiplier: 1.06x
- Recent ROE (3.45%) is above the historical average (2.31%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2018 | -4.33% | -0.22% | 1.25x | 15.97x | $-949.30K |
| 2019 | 44.93% | 3.08% | 1.07x | 13.59x | $37.12 Million |
| 2020 | -55.53% | -3.35% | 6.15x | 2.69x | $-151.17 Million |
| 2021 | 14.98% | 23.76% | 0.52x | 1.21x | $673.22 Million |
| 2022 | 9.26% | 27.03% | 0.33x | 1.05x | $-115.69 Million |
| 2023 | 3.42% | 42.95% | 0.08x | 1.05x | $-1.03 Billion |
| 2024 | 3.45% | 22.57% | 0.14x | 1.06x | $-1.05 Billion |
Industry Comparison
This section compares RLX Technology Inc's net assets metrics with peer companies in the Tobacco industry.
Industry Context
- Industry: Tobacco
- Average net assets among peers: $626,058,775
- Average return on equity (ROE) among peers: -642.36%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| RLX Technology Inc (RLX) | $16.19 Billion | -4.33% | 0.08x | $1.79 Billion |
| Greenlane Holdings Inc (GNLN) | $114.56 Million | -25.15% | 0.34x | $7.01 Million |
| Hempacco Co., Inc. (HPCO) | $-779.33K | 0.00% | 0.00x | $592.25 |
| Ispire Technology Inc. Common Stock (ISPR) | $604.69K | -6489.27% | 168.04x | $94.53 Million |
| Kaival Brands Innovations Group Inc (KAVL) | $4.42 Million | 87.06% | 1.02x | $243.64K |
| Altria Group (MO) | $3.17 Billion | 131.86% | 10.14x | $112.89 Billion |
| Philip Morris International Inc (PM) | $1.76 Billion | 487.29% | 19.13x | $283.83 Billion |
| RYTHM, Inc. (RYM) | $-1.76 Million | 0.00% | 0.00x | $56.29 Million |
| Turning Point Brands Inc (TPB) | $190.38 Million | 20.91% | 1.59x | $1.62 Billion |
| Universal Corporation (UVV) | $394.10 Million | 6.09% | 2.24x | $1.33 Billion |
About RLX Technology Inc
RLX Technology Inc., through its subsidiaries, develops, manufactures, and sells e-vapor products in the People's Republic of China and internationally. It serves the product through offline distributors. The company was founded in 2018 and is headquartered in Shenzhen, the People's Republic of China.