Market Capitalization & Enterprise Value
Research-grade valuation history for RLX. Track market capitalization versus enterprise value to see the impact of net debt and share changes. Use the interactive chart to explore different horizons; the table updates accordingly to support auditability and export.
Market Cap & Enterprise Value
Comparison of market capitalization and enterprise value over time
Market Cap
Enterprise Value
Market Cap History
Investor Valuation Insights
As of Mar 31, 2026EV/EBITDA
41.67x
Higher EV/EBITDA may imply premium pricing; growth durability should justify the multiple.
EV vs Market Cap Spread
-5.37B
EV is -26.9% vs equity value
Capital Structure Signal
Net Cash Profile
EV premium trend: -26.9 pp vs earliest data
Additional Multiples
EV/Sales: 9.92x
Net Debt/EBITDA: -12.11x
Share count change in dataset: -21.22%
Interpretation guide: EV/EBITDA compares total firm value (debt + equity - cash) to operating earnings. Lower is usually cheaper, but always benchmark against peers, growth rate, margins, and cyclicality.
Market Cap & Enterprise Value Data
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| Date | Market Cap | Enterprise Value | Stock Price | Shares |
|---|---|---|---|---|
| Dec 31, 2025 | 19.94B | 14.56B | $16.29 | 1.22B |
| Dec 31, 2024 | 19.43B | 13.89B | $15.77 | 1.23B |
| Dec 31, 2023 | 18.53B | 16.24B | $13.84 | 1.34B |
Dec 31, 2022 | — | — | — | — |
Dec 31, 2021 | — | — | — | — |
Dec 31, 2020 | — | — | — | — |
Dec 31, 2019 | — | — | — | — |
Dec 31, 2018 | — | — | — | — |