RLX Valuation

RLX Technology Inc

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2.400

+0.16(7.143%)1D

Overview
Forecast
Valuation
Earnings

RLX Relative Valuation

RLX's fair value is calculated using relative valuation, based on historical P/E and P/S ranges and their premiums/discounts relative to a competitor average, adjusted by weights. If the market price exceeds this fair value range, RLX is overvalued; if below, it's undervalued.

Historical Valuation

RLX Technology Inc (RLX) is now in the Fair zone, suggesting that its current forward PE ratio of 20.70 is considered Fairly compared with the five-year average of 23.92. The fair price of RLX Technology Inc (RLX) is between 1.04 to 4.24 according to relative valuation methord.

Relative Value

Fair Zone

1.04-4.24

Current Price：2.40

Fair

20.70

Trailing

Forward

26.37

EV/EBITDA

RLX Technology Inc. (RLX) has a current EV/EBITDA of 26.37. The 5-year average EV/EBITDA is 19.62. The thresholds are as follows: Strongly Undervalued below -36.95, Undervalued between -36.95 and -8.66, Fairly Valued between 47.91 and -8.66, Overvalued between 47.91 and 76.20, and Strongly Overvalued above 76.20. The current Forward EV/EBITDA of 26.37 falls within the Historic Trend Line -Fairly Valued range.

30.75

EV/EBIT

RLX Technology Inc. (RLX) has a current EV/EBIT of 30.75. The 5-year average EV/EBIT is 67.30. The thresholds are as follows: Strongly Undervalued below -268.76, Undervalued between -268.76 and -100.73, Fairly Valued between 235.33 and -100.73, Overvalued between 235.33 and 403.36, and Strongly Overvalued above 403.36. The current Forward EV/EBIT of 30.75 falls within the Historic Trend Line -Fairly Valued range.

5.93

RLX Technology Inc. (RLX) has a current PS of 5.93. The 5-year average PS is 7.03. The thresholds are as follows: Strongly Undervalued below -1.89, Undervalued between -1.89 and 2.57, Fairly Valued between 11.48 and 2.57, Overvalued between 11.48 and 15.94, and Strongly Overvalued above 15.94. The current Forward PS of 5.93 falls within the Historic Trend Line -Fairly Valued range.

16.58

P/OCF

RLX Technology Inc. (RLX) has a current P/OCF of 16.58. The 5-year average P/OCF is 22.32. The thresholds are as follows: Strongly Undervalued below -6.98, Undervalued between -6.98 and 7.67, Fairly Valued between 36.97 and 7.67, Overvalued between 36.97 and 51.62, and Strongly Overvalued above 51.62. The current Forward P/OCF of 16.58 falls within the Historic Trend Line -Fairly Valued range.

15.13

P/FCF

RLX Technology Inc. (RLX) has a current P/FCF of 15.13. The 5-year average P/FCF is 21.18. The thresholds are as follows: Strongly Undervalued below -8.56, Undervalued between -8.56 and 6.31, Fairly Valued between 36.04 and 6.31, Overvalued between 36.04 and 50.91, and Strongly Overvalued above 50.91. The current Forward P/FCF of 15.13 falls within the Historic Trend Line -Fairly Valued range.

RLX Technology Inc (RLX) has a current Price-to-Book (P/B) ratio of 1.22. Compared to its 3-year average P/B ratio of 1.12 , the current P/B ratio is approximately 9.00% higher. Relative to its 5-year average P/B ratio of 6.69, the current P/B ratio is about -81.83% higher. RLX Technology Inc (RLX) has a Forward Free Cash Flow (FCF) yield of approximately 5.34%. Compared to its 3-year average FCF yield of 1.96%, the current FCF yield is approximately 173.23% lower. Relative to its 5-year average FCF yield of 3.31% , the current FCF yield is about 61.45% lower.

1.22

P/B

Median3y

1.12

Median5y

6.69

5.34

FCF Yield

Median3y

1.96

Median5y

3.31

Competitors Valuation Multiple

The average P/S ratio for RLX's competitors is 2.54, providing a benchmark for relative valuation. RLX Technology Inc Corp (RLX) exhibits a P/S ratio of 5.93, which is 133.86% above the industry average. Given its robust revenue growth of 50.62%, this premium appears sustainable.

P/S

P/E

EV/EBITDA

EV/EBIT

P/S

Revenue Growth

Market Cap

Ispire Technology Inc

Performance Decomposition

Market capitalization of RLX increased by 42.01% over the past 1 year. The primary factor behind the change was an increase in Revenue Growth from 470.38M to 708.48M.

The secondary factor is the Margin Expansion, contributed 11.49%to the performance.

Overall, the performance of RLX in the past 1 year is driven by Revenue Growth. Which is more sustainable.

50.62%

470.38M → 708.48M

Revenue Growth

11.49%

28.20 → 31.44

Margin Expansion

-20.10%

40.43 → 32.30

P/E Change

42.01%