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Philip Morris International vs RLX Technology: revenue, profit, margins and growth compared

Philip Morris International brought in $40.6B of revenue in fiscal 2025, RLX Technology $566.1M in fiscal 2025. Revenue changed by +7.3% at Philip Morris International and +50.3% at RLX Technology on the year before, so RLX Technology grew faster. Philip Morris International kept 27.9% of its revenue as net profit, RLX Technology 23.3%. Free cash flow was $10.7B at Philip Morris International and $141.1M at RLX Technology.

Side by side, latest fiscal year

PMRLX
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$40.6B$566.1M
Revenue growth+7.3%+50.3%
Net income$11.3B$131.8M
Net margin27.9%23.3%
Free cash flow$10.7B$141.1M
Free cash flow margin26.2%24.9%
Earnings per share (diluted)$7.26$0.10
Cash$4.9B$767.5M
Debt$48.7Bn/a
Price to earnings26.2n/a
Market value$296.9B$2.6B
Dividend yield2.96%n/a
Rank by revenue in sector#19 of 523 · Health care#186 of 523 · Health care

Over the years

Revenue
PM FY2018: $79.8BPM FY2019: $77.9BPM FY2020: $76BPM FY2021: $82.2BPM FY2022: $80.7BPM FY2023: $35.2BPM FY2024: $37.9BPM FY2025: $40.6BRLX FY2020: $585.4MRLX FY2021: $1.3BRLX FY2022: $773.2MRLX FY2023: $223.4MRLX FY2024: $376.6MRLX FY2025: $566.1MFY18FY19FY20FY21FY22FY23FY24FY25
PM $40.6BRLX $566.1M
Net income
PM FY2018: $7.9BPM FY2019: $7.2BPM FY2020: $8.1BPM FY2021: $9.1BPM FY2022: $9BPM FY2023: $7.8BPM FY2024: $7.1BPM FY2025: $11.3BRLX FY2020: -$19.6MRLX FY2021: $317.7MRLX FY2022: $209MRLX FY2023: $75.3MRLX FY2024: $75.6MRLX FY2025: $131.8MFY18FY19FY20FY21FY22FY23FY24FY25
PM $11.3BRLX $131.8M
Net margin
PM FY2018: 9.9%PM FY2019: 9.2%PM FY2020: 10.6%PM FY2021: 11.1%PM FY2022: 11.2%PM FY2023: 22.2%PM FY2024: 18.6%PM FY2025: 27.9%RLX FY2020: -3.4%RLX FY2021: 23.8%RLX FY2022: 27.0%RLX FY2023: 33.7%RLX FY2024: 20.1%RLX FY2025: 23.3%FY18FY19FY20FY21FY22FY23FY24FY25
PM 27.9%RLX 23.3%
Revenue growth
PM FY2019: -2.4%PM FY2020: -2.4%PM FY2021: +8.1%PM FY2022: -1.9%PM FY2023: -56.4%PM FY2024: +7.7%PM FY2025: +7.3%RLX FY2021: +128.4%RLX FY2022: -42.2%RLX FY2023: -71.1%RLX FY2024: +68.5%RLX FY2025: +50.3%FY19FY20FY21FY22FY23FY24FY25
PM +7.3%RLX +50.3%
Free cash flow
PM FY2018: $8BPM FY2019: $9.2BPM FY2020: $9.2BPM FY2021: $11.2BPM FY2022: $9.7BPM FY2023: $7.9BPM FY2024: $10.8BPM FY2025: $10.7BRLX FY2020: $394.9MRLX FY2021: $261.9MRLX FY2022: $65MRLX FY2023: $24MRLX FY2024: $115.7MRLX FY2025: $141.1MFY18FY19FY20FY21FY22FY23FY24FY25
PM $10.7BRLX $141.1M

Fiscal years as each company reports them; the two may end in different months.

Questions about Philip Morris International and RLX Technology

Which is bigger by revenue, Philip Morris International or RLX Technology?

Philip Morris International is bigger by revenue: $40.6B in fiscal 2025, against $566.1M for RLX Technology in fiscal 2025.

Which keeps more of its revenue as profit, Philip Morris International or RLX Technology?

Philip Morris International had a net margin of 27.9% in fiscal 2025; RLX Technology had 23.3% in fiscal 2025.

Which grew revenue faster, Philip Morris International or RLX Technology?

In their latest fiscal years revenue changed by +7.3% at Philip Morris International and +50.3% at RLX Technology.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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