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RLX TechnologyRLX +2.23%68 Debt-to-EBITDA is 0.22 as of Mar. 2026, which is 47% above its 10-year median of 0.15. GuruFocus rates RLX with a GF Score™ of 68/100 and a GF Value™ of $4.15 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 35 Tobacco Products companies, RLX Technology ranks better than 65.71% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for RLX Technology's Debt-to-EBITDA or its related term are showing as below:
RLX'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: -1.87 Med: 0.15 Max: 1.33
Current: 0.44
During the past 8 years, the highest Debt-to-EBITDA Ratio of RLX Technology was 1.33. The lowest was -1.87. And the median was 0.15.
RLX's Debt-to-EBITDA is ranked better than 65.71% of 35
companies
in the Tobacco Products industry
Industry Median: 1.37
vs RLX: 0.44
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
RLX Technology Debt-to-EBITDA Related Terms
RLX Technology Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for RLX Technology's Debt-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Tobacco subindustry, RLX Technology's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
RLX Technology Debt-to-EBITDA vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, RLX Technology's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where RLX Technology's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Mar. 2026) EBITDA data.
RLX Technology (RLX) has a Debt-to-EBITDA of 0.22 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on RLX Technology. This is 47% above median its historical median of 0.15. According to the industry distribution chart, RLX Technology ranks #12 out of 35 companies in the Tobacco Products industry, placing it in the top 34.3%.
Is RLX Technology's Debt-to-EBITDA too high?
RLX Technology's current Debt-to-EBITDA of 0.22 is 47% above median its 10-year median of 0.15. The Tobacco Products industry median Debt-to-EBITDA is 1.37. RLX Technology's value of 0.22 is 83.9% below this industry median. Based on the distribution chart, RLX Technology ranks #12 out of 35 companies in the Tobacco Products industry, which is above the industry midpoint. Overall, RLX Technology has a GF Score™ of 68/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does RLX Technology's Debt-to-EBITDA compare to TPB and UVV?
According to the Tobacco Products industry distribution chart, RLX Technology ranks #12 out of 35 companies for Debt-to-EBITDA. This puts RLX Technology in the upper half of its industry. The industry median Debt-to-EBITDA is 1.37. RLX Technology's value of 0.22 is 83.9% below this benchmark. While the company's 10-year median is 0.15 vs. the industry median of 1.37, RLX Technology has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for a Tobacco Products company?
The median Debt-to-EBITDA among Tobacco Products companies is 1.37, based on 35 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. RLX Technology's current Debt-to-EBITDA of 0.22 is 83.9% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on RLX Technology. For the Tobacco Products industry, the median Debt-to-EBITDA is 1.37 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. RLX Technology's current Debt-to-EBITDA is 0.22, which is 47% above median its own 10-year median of 0.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is RLX Technology stock overvalued right now?
Based on GuruFocus' analysis, RLX Technology (RLX) is currently considered Significantly Undervalued. The stock's GF Value™ is $4.15, compared to a current price of $2.07 — trading 50.2% below its estimated fair value. The current Debt-to-EBITDA is 0.22, which is 47% above median its 10-year median of 0.15 and 83.9% below the Tobacco Products industry median of 1.37. RLX Technology's overall GF Score™ is 68/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For RLX Technology (RLX), the current Debt-to-EBITDA is 0.22 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is RLX Technology (RLX) Overvalued in 2026?
Based on GuruFocus' analysis, RLX Technology stock appears to be undervalued.
The current stock price of $2.07 is trading 50.2% below its estimated GF Value™ of $4.15.
GuruFocus considers RLX Technology to be Significantly Undervalued.
Key valuation signals for RLX:
Debt-to-EBITDA: 0.22 (47% above median its 10-year median of 0.15)
GF Value™: $4.15 vs. price of $2.07 (50.2% below fair value)
Industry Position: 83.9% below the Tobacco Products median (#12 of 35)
No single metric tells the full story. See the RLX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
RLX Technology Inc is engaged in the manufacturing of e-vapor products for adult smokers. It has an integrated offline distribution and "Branded store plus" retail model tailored to China's e-vapor market. The company has two reportable segments, Core Markets and Europe Acquisition. The majority of the revenue is earn from Core Markets segment.
68GF Score
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