Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.
RLX Technology's operating assets for the quarter that ended in Mar. 2026 was $1,169.1 Mil. RLX Technology's operating liabilities for the quarter that ended in Mar. 2026 was $196.4 Mil. RLX Technology's Total Assets for the quarter that ended in Dec. 2025 was $2,545.7 Mil. Therefore, RLX Technology's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.38.
RLX Technology Scaled Net Operating Assets Related Terms
RLX Technology Scaled Net Operating Assets Historical Data
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The historical data trend for RLX Technology's Scaled Net Operating Assets 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: Scaled Net Operating Assets Comparison
For the Tobacco subindustry, RLX Technology's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets 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 Scaled Net Operating Assets vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, RLX Technology's Scaled Net Operating Assets distribution charts can be found below:
* The bar in red indicates where RLX Technology's Scaled Net Operating Assets 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.
What does a Scaled Net Operating Assets of 0.38 mean?
RLX Technology (RLX) has a Scaled Net Operating Assets of 0.38 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on RLX Technology and its competitors.
Is RLX Technology's Scaled Net Operating Assets too high?
RLX Technology's current Scaled Net Operating Assets is 0.38. 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 Scaled Net Operating Assets compare to TPB and UVV?
RLX Technology's Scaled Net Operating Assets of 0.38 can be compared against companies in the Tobacco Products industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Tobacco Products company?
A good Scaled Net Operating Assets depends on the Tobacco Products industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on RLX Technology and its competitors. RLX Technology's current Scaled Net Operating Assets is 0.38. 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 $4.06, compared to a current price of $1.94 — trading 52.2% below its estimated fair value. The current Scaled Net Operating Assets is 0.38. 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 Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For RLX Technology (RLX), the current Scaled Net Operating Assets is 0.38 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 52.2% below its estimated GF Value™ of $4.06.
GuruFocus considers RLX Technology to be Significantly Undervalued.
Key valuation signals for RLX:
Scaled Net Operating Assets: 0.38
GF Value™: $4.06 vs. price of $1.94 (52.2% below fair value)
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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