LUCKIN COFFEE (LKNCY) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 26, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Mar 27, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LKNCY SEC filings page.
LUCKIN COFFEE INC (LKNCY) reported $7.0B in revenue for fiscal year 2025, up 48.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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).
Luckin’s expansion is becoming more cash-generative, while investment spending and a larger balance sheet keep growth capital-intensive.
From FY2023 to FY2025, revenue increased100.6% while the operating margin fell1.8 percentage points , indicating that expansion added sales faster than it preserved operating efficiency. In FY2025, operating cash flow reached169.2% of net income and free cash flow was$495M , showing that reported earnings translated into cash even after capital spending.
The balance sheet grew with equity increasing
Capital spending was
Financial Health Signals
LUCKIN COFFEE INC does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
LUCKIN COFFEE INC scores 5.25, well above the 2.99 safe threshold. The largest contribution to the score comes from a market capitalization of $9.2B against total liabilities of $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.
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, the one computable operating efficiency signal (asset turnover improving) passes.
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.
LUCKIN COFFEE INC earns $40,583.48 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
Earnings & Revenue
LUCKIN COFFEE INC generated $7.0B in revenue in fiscal year 2025. This represents an increase of 48.9% from the prior year.
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 45.1% from the prior year.
LUCKIN COFFEE INC reported $513.9M in net income in fiscal year 2025. This represents an increase of 26.9% from the prior year.
LUCKIN COFFEE INC earned $0.20 per diluted share (EPS) in fiscal year 2025. This represents an increase of 25.7% from the prior year.
Cash & Balance Sheet
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.
LUCKIN COFFEE INC held $327.4M in cash as of fiscal year 2025; no long-term debt figure is on record for that period.
Not reported for fiscal year 2025.
Margins & Returns
LUCKIN COFFEE INC's operating margin was 10.3% in fiscal year 2025, reflecting core business profitability. This is down 0.1 percentage points from the prior year.
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 1.3 percentage points from the prior year.
LUCKIN COFFEE INC's ROE was 23.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.5 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
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.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
LKNCY Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7.0B+48.9% | $4.7B+34.7% | $3.5B+82.0% | $1.9B+54.2% | $1.2B+102.2% | $618.1M+42.3% | $434.5M+255.4% | $122.3M |
| 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-2.3% | $154.0M+178.9% | $55.2M |
| Operating Income | $724.1M+48.0% | $489.2M+15.0% | $425.4M+153.8% | $167.6Mn/m | -$84.6Mn/m | -$396.5Mn/m | -$461.4Mn/m | -$232.4M |
| EBITDA | $946.3M+45.1% | $652.2M+27.7% | $510.6M+127.5% | $224.5Mn/m | -$11.6Mn/m | -$322.4Mn/m | -$402.2Mn/m | -$216.9M |
| Interest Expense | $18K-96.7% | $538K | N/A | $3.4M-38.9% | $5.6M-68.8% | $17.8M+292.9% | $4.5M+93.8% | $2.3M |
| Income Tax | $239.8M+127.1% | $105.6M+190.4% | $36.4M-60.7% | $92.6Mn/m | -$10.0Mn/m | -$97.7M-49162.5% | $199K | N/A |
| Net Income | $513.9M+26.9% | $405.0M+1.1% | $400.6M+465.9% | $70.8M-22.0% | $90.8Mn/m | -$856.6Mn/m | -$453.7Mn/m | -$464.0M |
| EPS (Basic) | $0.20+25.7% | $0.16+0.8% | $0.16+443.8% | $0.03-36.3% | $0.05n/m | -$0.42n/m | -$0.33 | -$0.63 |
| EPS (Diluted) | $0.20+25.7% | $0.16+0.8% | $0.16+473.5% | $0.03-35.1% | $0.04n/m | -$0.42n/m | -$0.33 | -$0.63 |
| Diluted Shares (Avg) | 2.57B+0.8% | 2.55B+0.6% | 2.53B+0.6% | 2.52B+17.8% | 2.14B+5.6% | 2.02B+25.6% | 1.61B | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
LKNCY Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.3B+36.5% | $3.2B+23.0% | $2.6B+69.6% | $1.5B-21.4% | $1.9B+35.2% | $1.4B+1.9% | $1.4B+176.6% | $506.9M |
| Current Assets | $2.1B+40.1% | $1.5B+37.4% | $1.1B+22.3% | $875.3M-33.5% | $1.3B+33.7% | $983.9M-9.3% | $1.1B+207.1% | $353.2M |
| 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+194.6% | $237.2M |
| Short-Term Investments | $368.1M+974.5% | $34.3M+143.2% | $14.1Mn/m | $0n/m | $0-100.0% | $38.3M-46.7% | $71.8M+279.8% | $18.9M |
| Inventory | $423.4M+23.6% | $342.6M+10.4% | $310.4M+77.5% | $174.9M+87.9% | $93.1M+120.5% | $42.2M-23.7% | $55.4M+153.8% | $21.8M |
| 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% | $3.3Mn/m | $0 |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0 |
| Total Liabilities | $1.9B+36.4% | $1.4B+14.0% | $1.2B+116.3% | $558.6M-50.3% | $1.1B+11.2% | $1.0B+52.4% | $663.6M-15.7% | $787.2M |
| Current Liabilities | $1.2B+32.5% | $916.6M+19.1% | $769.4M+87.6% | $410.1M-60.3% | $1.0B+574.3% | $153.4M-75.2% | $619.0M+445.0% | $113.6M |
| Non-Current Liabilities | $664.5M+44.2% | $461.0M+5.1% | $438.7M+195.4% | $148.5M+64.6% | $90.2M-89.5% | $857.7M+1824.0% | $44.6M-13.3% | $51.4M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | $460.0M+931.9% | $44.6M+35.0% | $33.0M |
| Total Equity | $2.2B+40.8% | $1.6B+38.2% | $1.1B+56.5% | $732.1M+28.5% | $569.8M+40.0% | $407.1M-44.0% | $726.8Mn/m | -$280.4M |
| Retained Earnings | -$348.1Mn/m | -$815.8Mn/m | -$1.2Bn/m | -$1.7Bn/m | -$1.9Bn/m | -$1.9Bn/m | -$985.9Mn/m | -$472.2M |
Not reported in any period shown, so not listed: Goodwill.
LKNCY Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $869.4M+50.0% | $579.5M+41.9% | $408.5M+14117.5% | $2.9M-85.2% | $19.4Mn/m | -$364.3Mn/m | -$311.3Mn/m | -$190.6M |
| Depreciation & Amortization | $222.3M+36.3% | $163.1M+91.5% | $85.2M+49.9% | $56.8M-22.2% | $73.0M-1.4% | $74.1M+25.2% | $59.2M+281.3% | $15.5M |
| Stock-Based Compensation | $81.8M+63.6% | $50.0M+48.2% | $33.7M-41.5% | $57.7M+21.5% | $47.5M+1307.1% | $3.4M-84.6% | $21.9Mn/m | $0 |
| Capital Expenditures | $374.5M+18.7% | $315.4M-18.6% | $387.4M+241.8% | $113.3M+316.9% | $27.2M-78.4% | $126.0M-44.2% | $225.7M+54.3% | $146.3M |
| Free Cash Flow | $494.9M+87.4% | $264.1M+1148.4% | $21.2Mn/m | -$110.5Mn/m | -$7.8Mn/m | -$490.3Mn/m | -$536.9Mn/m | -$336.9M |
| Investing Cash Flow | -$1.1Bn/m | -$439.8Mn/m | -$485.5Mn/m | -$115.7M-218897.3% | $53Kn/m | -$262.4Mn/m | -$260.8Mn/m | -$186.6M |
| Financing Cash Flow | -$47.6M-204.2% | $45.7M | N/A | -$330.0M-238.9% | $237.7M-61.5% | $617.5M-40.6% | $1.0B+79.3% | $580.1M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
LKNCY Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 10.3%-0.1pp | 10.4%-1.8pp | 12.1%+3.4pp | 8.7%+15.5pp | -6.8%+57.4pp | -64.1% | -106.2% | -190.1% |
| Net Margin | 7.3%-1.3pp | 8.6%-2.8pp | 11.4%+7.7pp | 3.7%-3.6pp | 7.3% | -138.6% | -104.4% | -379.5% |
| Return on Equity | 23.0%-2.5pp | 25.6%-9.4pp | 34.9%+25.3pp | 9.7%-6.3pp | 15.9%+226.3pp | -210.4%-148.0pp | -62.4% | N/A |
| Return on Assets | 11.9%-0.9pp | 12.8%-2.8pp | 15.6%+10.9pp | 4.7%0.0pp | 4.7%+64.7pp | -60.0%-27.6pp | -32.4%+59.2pp | -91.5% |
| Current Ratio | 1.70+0.1x | 1.60+0.2x | 1.39-0.7x | 2.13+0.9x | 1.27-5.1x | 6.41+4.7x | 1.75-1.4x | 3.11 |
| Debt-to-Equity | N/A | N/A | N/A | N/A | N/A | 1.13+1.1x | 0.06 | N/A |
| Liabilities-to-Equity | 0.840.0x | 0.87-0.2x | 1.05+0.3x | 0.76-1.2x | 1.97-0.5x | 2.48+1.6x | 0.91 | N/A |
| Asset Turnover | 1.63+0.1x | 1.49+0.1x | 1.36+0.1x | 1.27+0.6x | 0.65+0.2x | 0.43+0.1x | 0.31+0.1x | 0.24 |
| FCF Margin | 7.0%+1.4pp | 5.6%+5.0pp | 0.6%+6.3pp | -5.7%-5.1pp | -0.6%+78.7pp | -79.3% | -123.6% | -275.5% |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Where LUCKIN COFFEE INC Ranks
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 liabilities-to-equity ratio?
LUCKIN COFFEE INC (LKNCY) had a liabilities-to-equity ratio of 0.84 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
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 P/E ratio?
LUCKIN COFFEE INC (LKNCY) trades at 18.0x earnings, its market capitalization divided by $513.9M net income, FY2025. The market capitalization is $9.2B as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is LUCKIN COFFEE INC's price-to-sales ratio?
LUCKIN COFFEE INC (LKNCY) trades at 1.3x sales, its market capitalization divided by $7.0B revenue, FY2025. The market capitalization is $9.2B as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is LUCKIN COFFEE INC's Altman Z-Score?
LUCKIN COFFEE INC (LKNCY) has an Altman Z-Score of 5.25, 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 40,583.48x, 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.