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RLX TechnologyRLX -2.51%68 Debt-to-Equity is 0.01 as of Mar. 2026, which is at its 10-year median of 0.01. GuruFocus rates RLX with a GF Score™ of 68/100 and a GF Value™ of $4.24 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 35 Tobacco Products companies, RLX Technology ranks better than 97.14% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for RLX Technology's Debt-to-Equity or its related term are showing as below:
RLX'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0 Med: 0.01 Max: 0.87
Current: 0.01
During the past 8 years, the highest Debt-to-Equity Ratio of RLX Technology was 0.87. The lowest was 0.00. And the median was 0.01.
RLX's Debt-to-Equity is ranked better than 97.14% of 35
companies
in the Tobacco Products industry
Industry Median: 0.37
vs RLX: 0.01
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
RLX Technology Debt-to-Equity Related Terms
RLX Technology Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for RLX Technology's Debt-to-Equity 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-Equity, along with its competitors' market caps and Debt-to-Equity 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-Equity vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, RLX Technology's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where RLX Technology's Debt-to-Equity 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.
RLX Technology (RLX) has a Debt-to-Equity of 0.01 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on RLX Technology and its competitors. This is near median its historical median of 0.01. According to the industry distribution chart, RLX Technology ranks #1 out of 35 companies in the Tobacco Products industry, placing it in the top 2.9%.
Is RLX Technology's Debt-to-Equity too high?
RLX Technology's current Debt-to-Equity of 0.01 is near median its 10-year median of 0.01. The Tobacco Products industry median Debt-to-Equity is 0.37. RLX Technology's value of 0.01 is 97.3% below this industry median. Based on the distribution chart, RLX Technology ranks #1 out of 35 companies in the Tobacco Products industry, which is in the top quartile — a strong position relative to peers. 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-Equity compare to TPB and UVV?
According to the Tobacco Products industry distribution chart, RLX Technology ranks #1 out of 35 companies for Debt-to-Equity. This places RLX Technology in the top 3% of its industry — outperforming the majority of peers. The industry median Debt-to-Equity is 0.37. RLX Technology's value of 0.01 is 97.3% below this benchmark. While the company's 10-year median is 0.01 vs. the industry median of 0.37, 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-Equity for a Tobacco Products company?
The median Debt-to-Equity among Tobacco Products companies is 0.37, based on 35 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. RLX Technology's current Debt-to-Equity of 0.01 is 97.3% 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-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on RLX Technology and its competitors. For the Tobacco Products industry, the median Debt-to-Equity is 0.37 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. RLX Technology's current Debt-to-Equity is 0.01, which is near median its own 10-year median of 0.01. 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 $4.24, compared to a current price of $1.94 — trading 54.2% below its estimated fair value. The current Debt-to-Equity is 0.01, which is near median its 10-year median of 0.01 and 97.3% below the Tobacco Products industry median of 0.37. 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-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For RLX Technology (RLX), the current Debt-to-Equity is 0.01 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 $1.94 is trading 54.2% below its estimated GF Value™ of $4.24.
GuruFocus considers RLX Technology to be Significantly Undervalued.
Key valuation signals for RLX:
Debt-to-Equity: 0.01 (near median its 10-year median of 0.01)
GF Value™: $4.24 vs. price of $1.94 (54.2% below fair value)
Industry Position: 97.3% below the Tobacco Products median (#1 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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