RLX TECHNOLOGY INC. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1.93 USD | -2.53% |
|
-10.23% | -3.50% |
| May. 17 | Sector Update: Consumer Stocks Advance Premarket Friday | MT |
| May. 17 | Transcript : RLX Technology Inc., Q1 2024 Earnings Call, May 17, 2024 |
Valuation
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 33,341 | 24,555 | 18,639 | 17,773 | - | - |
| Enterprise Value (EV) 1 | 33,341 | 24,555 | 11,893 | 9,894 | 8,632 | 8,193 |
| P/E ratio | 17.3 x | 14.6 x | 35.6 x | 19.4 x | 15.9 x | 13.8 x |
| Yield | - | - | - | 0.36% | 0.31% | 2.93% |
| Capitalization / Revenue | 3.91 x | 4.6 x | 11.7 x | 6.69 x | 4.55 x | 3.64 x |
| EV / Revenue | 3.91 x | 4.6 x | 7.5 x | 3.73 x | 2.21 x | 1.68 x |
| EV / EBITDA | 12.7 x | 17.6 x | -319 x | 27.1 x | 14.3 x | 10.5 x |
| EV / FCF | 20.1 x | - | 71.5 x | 8.38 x | 7.24 x | 4.7 x |
| FCF Yield | 4.98% | - | 1.4% | 11.9% | 13.8% | 21.3% |
| Price to Book | 2.57 x | - | 1.22 x | 1.11 x | 1.04 x | 0.93 x |
| Nbr of stocks (in thousands) | 1,345,855 | 1,547,892 | 1,313,070 | 1,271,602 | - | - |
| Reference price 2 | 24.77 | 15.86 | 14.19 | 13.98 | 13.98 | 13.98 |
| Announcement Date | 3/11/22 | 3/10/23 | 3/15/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,820 | 8,521 | 5,333 | 1,586 | 2,656 | 3,909 | 4,888 |
| EBITDA 1 | 1,005 | 2,636 | 1,394 | -37.24 | 364.5 | 603.2 | 782.3 |
| EBIT 1 | 942.2 | 2,522 | 1,230 | -133.8 | 254.6 | 491.6 | 670.1 |
| Operating Margin | 24.67% | 29.6% | 23.06% | -8.44% | 9.59% | 12.58% | 13.71% |
| Earnings before Tax (EBT) 1 | 102.4 | 2,660 | 1,780 | 591.7 | 827.3 | 1,018 | 1,313 |
| Net income 1 | -128.1 | 2,025 | 1,441 | 534.3 | 718 | 857.1 | 1,131 |
| Net margin | -3.35% | 23.76% | 27.03% | 33.68% | 27.03% | 21.92% | 23.14% |
| EPS 2 | -0.0890 | 1.436 | 1.085 | 0.3990 | 0.7190 | 0.8772 | 1.011 |
| Free Cash Flow 1 | 2,572 | 1,661 | - | 166.3 | 1,180 | 1,193 | 1,745 |
| FCF margin | 67.33% | 19.49% | - | 10.48% | 44.43% | 30.52% | 35.7% |
| FCF Conversion (EBITDA) | 255.99% | 63.02% | - | - | 323.71% | 197.78% | 223.05% |
| FCF Conversion (Net income) | - | 82.04% | - | 31.12% | 164.36% | 139.19% | 154.28% |
| Dividend per Share 2 | - | - | - | - | 0.0506 | 0.0438 | 0.4098 |
| Announcement Date | 3/26/21 | 3/11/22 | 3/10/23 | 3/15/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,940 | - | 340 | - | 378.1 | 428.1 | 520.5 | 551.6 | 638.4 | 742.6 | 758.2 | - |
| EBITDA 1 | - | - | - | - | - | - | - | 51.82 | 81.82 | 115.1 | 121.4 | - |
| EBIT 1 | 1,572 | - | 2.684 | - | -67.13 | -14.51 | 76.11 | 23.29 | 49.29 | 84.45 | 117.1 | - |
| Operating Margin | 31.83% | - | 0.79% | - | -17.75% | -3.39% | 14.62% | 4.22% | 7.72% | 11.37% | 15.44% | - |
| Earnings before Tax (EBT) 1 | - | - | - | - | 256.2 | 173.2 | 231 | 149 | 209.9 | 243.1 | 270.3 | - |
| Net income 1 | - | 503.4 | - | -56.97 | 202.8 | 171 | 213.5 | 131.9 | 227.6 | 255.9 | 255.9 | - |
| Net margin | - | - | - | - | 53.63% | 39.94% | 41.02% | 23.91% | 35.66% | 34.45% | 33.75% | - |
| EPS 2 | - | 0.3790 | - | -0.0430 | 0.1500 | 0.1270 | 0.1610 | 0.1010 | 0.1769 | 0.1988 | 0.1988 | - |
| Dividend per Share 2 | - | - | - | - | - | - | 0.0720 | - | - | - | 0.0100 | - |
| Announcement Date | 8/20/21 | 11/16/22 | 3/10/23 | 5/17/23 | 8/18/23 | 11/13/23 | 3/15/24 | 5/17/24 | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - |
| Net Cash position 1 | - | - | - | 6,746 | 7,879 | 9,142 | 9,580 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 2,572 | 1,661 | - | 166 | 1,180 | 1,193 | 1,745 |
| ROE (net income / shareholders' equity) | 99.2% | 29.9% | 9.91% | 3.43% | 5.08% | 5.94% | 6.55% |
| ROA (Net income/ Total Assets) | 29.1% | 19.8% | 8.8% | 3.27% | 4.3% | 4.97% | 5.3% |
| Assets 1 | -440.1 | 10,213 | 16,372 | 16,347 | 16,697 | 17,257 | 21,341 |
| Book Value Per Share 2 | - | 9.640 | - | 11.60 | 12.50 | 13.40 | 15.10 |
| Cash Flow per Share 2 | - | 1.280 | - | 0.1500 | 0.7700 | 0.9700 | - |
| Capex 1 | 17.5 | 139 | 44.6 | 32.4 | 69.5 | 100 | 61.1 |
| Capex / Sales | 0.46% | 1.63% | 0.84% | 2.04% | 2.62% | 2.56% | 1.25% |
| Announcement Date | 3/26/21 | 3/11/22 | 3/10/23 | 3/15/24 | - | - | - |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C-
Sell
Buy
Mean consensus
BUY
Number of Analysts
5
Last Close Price
13.98
CNY
Average target price
22.24
CNY
Spread / Average Target
+59.09%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -3.50% | 2.45B | |
| -5.60% | 66.16B | |
| +22.25% | 50.24B | |
| +0.23% | 7.19B | |
| -13.97% | 5.57B | |
| -6.03% | 2.29B | |
| -37.32% | 1.49B | |
| -12.08% | 1.18B | |
| -17.31% | 1.16B | |
| -0.58% | 992M |
- Stock Market
- Equities
- RLX Stock
- Financials RLX Technology Inc.
