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RLX

RLX Technology Inc.

Consumer Defensive · $2.1B market cap

Verdict

Share price

$1.71

close of Oct 3, 2026

Fair value

$2.59

Sticker Price

Payback Price

$1.04

buy price

Undervalued

RLX is Undervalued: at $1.71 it trades 34% below its fair value of $2.59. Its buy price (Payback Price) is $1.04, 39% below today's price. Business quality is limited: none of the 5 key numbers clears the 10% bar.

How we valued it

Owner Earnings. Earnings have been shrinking, but the business still generates cash, so we value it on its cash flow instead of its earnings.

Business quality

0 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth-8.8% a year✗
Equity per share growth3.7% a year✗
Sales growth-1.6% a year✗
Free cash flow growth-9.3% a year✗
Return on invested capital-0.6%✗

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Insider activity

Since Jul 31, 2026: no open-market purchases and 2 other filings (stock awards, tax withholding and similar). Why purchases matter

Other filings

Lu Chao

Chief Financial Officer · 2026-07-31

Award

1,700,000 shares

Lu Chao

Chief Financial Officer · 2026-07-31

Award

1,500,000 shares

About RLX Technology Inc.

RLX Technology Inc., along with its affiliated entities, operates within the People's Republic of China, focusing on the entire lifecycle of electronic vapor products, from conceptualization and development to manufacturing, distribution, and direct sales. The company's offerings are made available to customers via a network of distributors who supply both dedicated RELX-branded partner stores and other independent…

Tobacco

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works