What is Luckin Coffee Inc's earnings per share (EPS)?

Luckin Coffee Inc (LKNCY) reported diluted earnings per share of $0.20 for fiscal year 2025. This represents a 25.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Luckin Coffee Inc Financials

LKNCY

Source SEC Filings (10-K/10-Q) Data as of Dec 31, 2025 Currency USD FYE December

This page shows Luckin Coffee Inc (LKNCY) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI LKNCY FY2025 2026-04-22

Customer-paid growth is converting sales into cash quickly, while heavy reinvestment explains why cash on hand looks modest.

Across the last three annual periods, operating cash flow more than doubled to $869M while operating margin stayed near 10.0%. With receivables only $22M, the company appears to run a customer-paid model, so rising profit is being collected quickly rather than parked in invoices.

This is still a reinvestment-heavy business: capital spending reached $374M, but free cash flow still came in at $495M. That tells you the operating footprint is expanding from internally generated cash, not only from external funding.

Reported cash fell to $327M even though operations produced $869M, because investment outlays were unusually large rather than because the core engine weakened. Meanwhile, a current ratio of 1.7x and lower debt-to-equity than a few years ago suggest growth has not been matched by a comparable loss of balance-sheet flexibility.

Financial Health Signals

Financial health score pending refresh

We are recalculating Luckin Coffee Inc's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Altman Z-Score Safe

5.23

Luckin Coffee Inc scores 5.23, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($9.2B) relative to total liabilities ($1.9B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

5/6

Luckin Coffee Inc passes 5 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.69x

For every $1 of reported earnings, Luckin Coffee Inc generates $1.69 in operating cash flow ($869.4M OCF vs $513.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

40225.2x

Luckin Coffee Inc earns $40225.2 in operating income for every $1 of interest expense ($724.1M vs $18K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$7.0B

YoY+48.9%

5Y CAGR+62.6%

Luckin Coffee Inc generated $7.0B in revenue in fiscal year 2025. This represents an increase of 48.9% from the prior year.

EBITDA

$946.3M

YoY+46.1%

Luckin Coffee Inc's EBITDA was $946.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 46.1% from the prior year.

Net Income

$513.9M

YoY+27.9%

Luckin Coffee Inc reported $513.9M in net income in fiscal year 2025. This represents an increase of 27.9% from the prior year.

EPS (Diluted)

$0.20

YoY+25.0%

Luckin Coffee Inc earned $0.20 per diluted share (EPS) in fiscal year 2025. This represents an increase of 25.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$494.9M

YoY+87.4%

Luckin Coffee Inc generated $494.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 87.4% from the prior year.

Cash & Debt

$327.4M

YoY-45.2%

5Y CAGR-15.0%

Luckin Coffee Inc held $327.4M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

10.3%

YoY+0.0pp

5Y CAGR+74.4pp

Luckin Coffee Inc's operating margin was 10.3% in fiscal year 2025, reflecting core business profitability. This is up 0.0 percentage points from the prior year.

Net Margin

7.3%

YoY-1.2pp

5Y CAGR+146.2pp

Luckin Coffee Inc's net profit margin was 7.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.2 percentage points from the prior year.

Return on Equity

23.0%

YoY-2.4pp

5Y CAGR+234.0pp

Luckin Coffee Inc's ROE was 23.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.4 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$374.5M

YoY+18.7%

5Y CAGR+24.3%

Luckin Coffee Inc invested $374.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 18.7% from the prior year.

LKNCY Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$7.0B+48.9%	$4.7B+34.7%	$3.5B+82.0%	$1.9B+54.2%	$1.2B+102.2%	$618.1M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$436.3M+31.6%	$331.7M+28.7%	$257.7M+21.8%	$211.6M+6.2%	$199.3M+32.5%	$150.4M
Operating Income	$724.1M+49.4%	$484.8M+13.8%	$426.1M+154.2%	$167.6M+298.2%	-$84.6M+78.7%	-$396.5M
Interest Expense	$18K-96.7%	$538K	N/A	$3.4M-38.9%	$5.6M-68.8%	$17.9M
Income Tax	$239.8M+129.5%	$104.5M+186.0%	$36.5M-60.5%	$92.6M+1023.8%	-$10.0M+89.7%	-$97.7M
Net Income	$513.9M+27.9%	$401.7M+0.1%	$401.1M+466.6%	$70.8M-34.3%	$107.7M+112.5%	-$858.7M
EPS (Diluted)	$0.20+25.0%	$0.160.0%	$0.16+433.3%	$0.03-40.0%	$0.05	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A

LKNCY Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$4.3B+36.6%	$3.2B+22.9%	$2.6B+69.6%	$1.5B-21.4%	$1.9B+35.2%	$1.4B
Current Assets	$2.1B+40.4%	$1.5B+37.0%	$1.1B+22.3%	$875.3M-33.5%	$1.3B+33.7%	$983.9M
Cash & Equivalents	$327.4M-45.2%	$597.7M+45.1%	$412.1M-19.6%	$512.4M-49.6%	$1.0B+38.0%	$736.6M
Inventory	$423.4M+24.9%	$338.9M+9.2%	$310.4M+77.5%	$174.9M+87.9%	$93.1M+120.5%	$42.2M
Accounts Receivable	$22.3M+46.4%	$15.2M+34.2%	$11.4M+33.3%	$8.5M+40.7%	$6.1M+127.4%	$2.7M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.9B+36.5%	$1.4B+13.9%	$1.2B+116.3%	$558.6M-50.3%	$1.1B+11.2%	$1.0B
Current Liabilities	$1.2B+32.6%	$915.6M+19.0%	$769.4M+87.6%	$410.1M-60.3%	$1.0B+574.3%	$153.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$2.2B+41.1%	$1.6B+38.0%	$1.1B+56.5%	$732.1M+28.5%	$569.8M+40.0%	$407.1M
Retained Earnings	-$348.1M+57.5%	-$818.3M+33.3%	-$1.2B+26.0%	-$1.7B+10.3%	-$1.8B+3.2%	-$1.9B

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19
Total Assets	$4.3B+36.6%	$3.2B+22.9%	$2.6B+69.6%	$1.5B-21.4%	$1.9B+35.2%	$1.4B+1.9%	$1.4B
Current Assets	$2.1B+40.4%	$1.5B+37.0%	$1.1B+22.3%	$875.3M-33.5%	$1.3B+33.7%	$983.9M-9.3%	$1.1B
Cash & Equivalents	$327.4M-45.2%	$597.7M+45.1%	$412.1M-19.6%	$512.4M-49.6%	$1.0B+38.0%	$736.6M+5.4%	$698.9M
Inventory	$423.4M+24.9%	$338.9M+9.2%	$310.4M+77.5%	$174.9M+87.9%	$93.1M+120.5%	$42.2M-23.7%	$55.4M
Accounts Receivable	$22.3M+46.4%	$15.2M+34.2%	$11.4M+33.3%	$8.5M+40.7%	$6.1M+127.4%	$2.7M-18.7%	$3.3M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.9B+36.5%	$1.4B+13.9%	$1.2B+116.3%	$558.6M-50.3%	$1.1B+11.2%	$1.0B+52.4%	$663.6M
Current Liabilities	$1.2B+32.6%	$915.6M+19.0%	$769.4M+87.6%	$410.1M-60.3%	$1.0B+574.3%	$153.4M-75.2%	$619.0M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	$44.6M
Total Equity	$2.2B+41.1%	$1.6B+38.0%	$1.1B+56.5%	$732.1M+28.5%	$569.8M+40.0%	$407.1M-44.0%	$726.8M
Retained Earnings	-$348.1M+57.5%	-$818.3M+33.3%	-$1.2B+26.0%	-$1.7B+10.3%	-$1.8B+3.2%	-$1.9B-93.6%	-$985.9M

LKNCY Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$869.4M+50.0%	$579.5M+41.9%	$408.5M+14109.3%	$2.9M-85.2%	$19.4M+105.3%	-$364.3M
Capital Expenditures	$374.5M+18.7%	$315.4M-18.6%	$387.4M+241.8%	$113.3M+316.9%	$27.2M-78.4%	$126.0M
Free Cash Flow	$494.9M+87.4%	$264.1M+1148.4%	$21.2M+119.2%	-$110.5M-1314.3%	-$7.8M+98.4%	-$490.3M
Investing Cash Flow	-$1.1B-152.7%	-$439.8M+9.4%	-$485.5M-319.6%	-$115.7M-222611.5%	$52K+100.0%	-$262.4M
Financing Cash Flow	-$47.6M-204.2%	$45.7M	N/A	-$330.0M-238.9%	$237.7M-61.5%	$617.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A

LKNCY Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	10.3%+0.0pp	10.3%-1.9pp	12.2%+3.5pp	8.7%+15.5pp	-6.8%+57.4pp	-64.1%
Net Margin	7.3%-1.2pp	8.5%-2.9pp	11.4%+7.8pp	3.7%-4.9pp	8.6%+147.5pp	-138.9%
Return on Equity	23.0%-2.4pp	25.4%-9.6pp	35.0%+25.3pp	9.7%-9.2pp	18.9%+229.8pp	-210.9%
Return on Assets	11.9%-0.8pp	12.7%-2.9pp	15.6%+10.9pp	4.7%-0.9pp	5.6%+65.7pp	-60.1%
Current Ratio	1.70+0.1	1.60+0.2	1.39-0.7	2.13+0.9	1.27-5.1	6.41
Debt-to-Equity	0.84-0.0	0.87-0.2	1.05+0.3	0.76-1.2	1.97-0.5	2.48
FCF Margin	7.0%+1.4pp	5.6%+5.0pp	0.6%+6.3pp	-5.7%-5.1pp	-0.6%+78.7pp	-79.3%

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	1.70+0.1	1.60+0.2	1.39-0.7	2.13+0.9	1.27-5.1	6.41+4.7	1.75
Debt-to-Equity	0.84-0.0	0.87-0.2	1.05+0.3	0.76-1.2	1.97-0.5	2.48+2.4	0.06
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Luckin Coffee Inc's annual revenue?

Luckin Coffee Inc (LKNCY) reported $7.0B in total revenue for fiscal year 2025. This represents a 48.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Luckin Coffee Inc's revenue growing?

Luckin Coffee Inc (LKNCY) revenue grew by 48.9% year-over-year, from $4.7B to $7.0B in fiscal year 2025.

Is Luckin Coffee Inc profitable?

Yes, Luckin Coffee Inc (LKNCY) reported a net income of $513.9M in fiscal year 2025, with a net profit margin of 7.3%.

What is Luckin Coffee Inc's EBITDA?

Luckin Coffee Inc (LKNCY) had EBITDA of $946.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Luckin Coffee Inc's operating margin?

Luckin Coffee Inc (LKNCY) had an operating margin of 10.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Luckin Coffee Inc's net profit margin?

Luckin Coffee Inc (LKNCY) had a net profit margin of 7.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Luckin Coffee Inc's return on equity (ROE)?

Luckin Coffee Inc (LKNCY) has a return on equity of 23.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Luckin Coffee Inc's free cash flow?

Luckin Coffee Inc (LKNCY) generated $494.9M in free cash flow during fiscal year 2025. This represents a 87.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Luckin Coffee Inc's operating cash flow?

Luckin Coffee Inc (LKNCY) generated $869.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Luckin Coffee Inc's total assets?

Luckin Coffee Inc (LKNCY) had $4.3B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Luckin Coffee Inc's capital expenditures?

Luckin Coffee Inc (LKNCY) invested $374.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

What is Luckin Coffee Inc's current ratio?

Luckin Coffee Inc (LKNCY) had a current ratio of 1.70 as of fiscal year 2025, which is generally considered healthy.

What is Luckin Coffee Inc's debt-to-equity ratio?

Luckin Coffee Inc (LKNCY) had a debt-to-equity ratio of 0.84 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Luckin Coffee Inc's return on assets (ROA)?

Luckin Coffee Inc (LKNCY) had a return on assets of 11.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Luckin Coffee Inc's Altman Z-Score?

Luckin Coffee Inc (LKNCY) has an Altman Z-Score of 5.23, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Luckin Coffee Inc's Piotroski F-Score?

Luckin Coffee Inc (LKNCY) has a Piotroski F-Score of 5 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Luckin Coffee Inc's earnings high quality?

Luckin Coffee Inc (LKNCY) has an earnings quality ratio of 1.69x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Luckin Coffee Inc cover its interest payments?

Luckin Coffee Inc (LKNCY) has an interest coverage ratio of 40225.2x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.