RLX TechnologyRLX -2.01%68 Return-on-Tangible-Asset is 6.77% as of Mar. 2026, which is 57% above its 10-year median of 4.31. GuruFocus rates RLX with a GF Score™ of 68/100 and a GF Value™ of $4.17 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 49 Tobacco Products companies, RLX Technology ranks worse than 59.18% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. RLX Technology's annualizedNet Income for the quarter that ended in Mar. 2026 was $164.9 Mil. RLX Technology's average total tangible assets for the quarter that ended in Mar. 2026 was $2,436.2 Mil. Therefore, RLX Technology's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 6.77%.
The historical rank and industry rank for RLX Technology's Return-on-Tangible-Asset or its related term are showing as below:
RLX'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -4.64 Med: 4.31 Max: 20.22
Current: 5.8
During the past 8 years, RLX Technology's highest Return-on-Tangible-Asset was 20.22%. The lowest was -4.64%. And the median was 4.31%.
RLX's Return-on-Tangible-Asset is ranked worse than 59.18% of 49
companies
in the Tobacco Products industry
Industry Median: 10.52
vs RLX: 5.80
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
RLX Technology Return-on-Tangible-Asset Related Terms
RLX Technology Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for RLX Technology's Return-on-Tangible-Asset 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.
RLX vs TPB, UVV, AIIR: Return-on-Tangible-Asset Comparison
For the Tobacco subindustry, RLX Technology's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, RLX Technology's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where RLX Technology's Return-on-Tangible-Asset 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 Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 6.77% mean?
RLX Technology (RLX) has a Return-on-Tangible-Asset of 6.77% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on RLX Technology and its competitors. This is 57% above median its historical median of 4.31. According to the industry distribution chart, RLX Technology ranks #29 out of 49 companies in the Tobacco Products industry, placing it in the top 59.2%.
Is RLX Technology's Return-on-Tangible-Asset too high?
RLX Technology's current Return-on-Tangible-Asset of 6.77% is 57% above median its 10-year median of 4.31. The Tobacco Products industry median Return-on-Tangible-Asset is 10.52. RLX Technology's value of 6.77% is 35.6% below this industry median. Based on the distribution chart, RLX Technology ranks #29 out of 49 companies in the Tobacco Products industry, which is below 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 Return-on-Tangible-Asset compare to TPB and UVV?
According to the Tobacco Products industry distribution chart, RLX Technology ranks #29 out of 49 companies for Return-on-Tangible-Asset. This places RLX Technology in the lower half of its industry. The industry median Return-on-Tangible-Asset is 10.52. RLX Technology's value of 6.77% is 35.6% below this benchmark. While the company's 10-year median is 4.31 vs. the industry median of 10.52, 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 Return-on-Tangible-Asset for a Tobacco Products company?
The median Return-on-Tangible-Asset among Tobacco Products companies is 10.52, based on 49 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. RLX Technology's current Return-on-Tangible-Asset of 6.77% is 35.6% 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on RLX Technology and its competitors. For the Tobacco Products industry, the median Return-on-Tangible-Asset is 10.52 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. RLX Technology's current Return-on-Tangible-Asset is 6.77%, which is 57% above median its own 10-year median of 4.31. 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 $4.17, compared to a current price of $1.95 — trading 53.2% below its estimated fair value. The current Return-on-Tangible-Asset is 6.77%, which is 57% above median its 10-year median of 4.31 and 35.6% below the Tobacco Products industry median of 10.52. 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 Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For RLX Technology (RLX), the current Return-on-Tangible-Asset is 6.77% 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 $1.95 is trading 53.2% below its estimated GF Value™ of $4.17.
GuruFocus considers RLX Technology to be Significantly Undervalued.
Key valuation signals for RLX:
Return-on-Tangible-Asset: 6.77% (57% above median its 10-year median of 4.31)
GF Value™: $4.17 vs. price of $1.95 (53.2% below fair value)
Industry Position: 35.6% below the Tobacco Products median (#29 of 49)
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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