Discounted Cash Flow

RLX Technology Inc. ADR

RLX · Based on 10 years of SEC filings · Converted from CNY to USD

DCF estimate unavailable — only_1_profitable_out_of_10

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $42.7m $-6.1m $-69.1k -14.2% $-7.23
2017 $60.1m (40.5%) $-4.7m (23.1%) $-1.2m (-1618.2%) -7.7% (45.3%) $-4.90 (32.2%)
2018 $132.6m (120.8%) $-6.5m (-40.2%) $-148.9k (87.5%) -4.9% (36.5%) $-0.00 (100.0%)
2019 $1.5b (1068.3%) $-3.8m (42.5%) $37.5m (25265.0%) -0.2% (95.1%) $0.03 (16600.0%)
2020 $585.4m (-62.2%) $-2.8m (24.1%) $-2.8m (-107.6%) -0.5% (-100.9%) $-0.01 (-142.4%)
2021 $1.3b (128.4%) $-3.4m (-18.6%) $-3.4m (-18.6%) -0.3% (48.1%) $0.23 (1721.4%)
2022 $773.2m (-42.2%) $14.1m (518.6%) $71.2m (2207.6%) 1.8% (824.0%) $0.16 (-30.4%)
2023 $223.4m (-71.1%) $-8.8m (-161.9%) $28.8m (-59.5%) -3.9% (-314.2%) $0.06 (-63.9%)
2024 $376.6m (68.5%) $-7.4m (15.7%) $-7.4m (-125.6%) -2.0% (50.0%) $0.06 (7.0%)
2025 $566.1m (50.3%) $-6.3m (14.6%) $-6.3m (14.6%) -1.1% (43.2%) $0.10 (63.9%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

SEC filings report in CNY. Values above are converted to USD for comparison with the US-listed share price.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model

only_1_profitable_out_of_10

Once the company meets all DCF eligibility criteria (sufficient history, profitability, growth trends), an estimate will become available automatically. No action is needed.