Luckin Coffee Inc. (LKNCY) stock analysis
Close on Oct 19, 2026
StockData Score
Prices as of Nov 13, 2026How the score works
Mixed9 of 30 checks passed
Luckin Coffee passes 9 of the 30 checks behind our score; 20 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 0/6
- Growth
- 3/6
- Past performance
- 1/6
- Financial health
- 5/6
- Dividend
- 0/6
What stands out
Return on capital over 10%
Return on invested capital was 39.1%, above the 10% that usually covers the cost of capital.
No debt
Luckin Coffee has no borrowings on its latest balance sheet.
Revenue growing 10%+ a year
Revenue grew 54.8% a year over the last three fiscal years.
EPS growing 10%+ a year
Diluted EPS grew 94.6% a year over the last three fiscal years.
What to watch
No dividend
Luckin Coffee has not paid a dividend in the last twelve months.
Valuation0/6
P/E against its history
Not enough price and earnings history to compare.
P/E against the industry
Needs positive earnings and enough profitable companies in the industry.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/B against the industry
Needs positive book value.
Price against fair value
We could not estimate a fair value: it needs at least two valuation methods with positive inputs.
Margin of safety
Depends on the fair value estimate.
Growth3/6
Revenue growing 10%+ a year
Revenue grew 54.8% a year over the last three fiscal years.
EPS growing 10%+ a year
Diluted EPS grew 94.6% a year over the last three fiscal years.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing faster than the industry
Revenue grew 43.0% over the last twelve months; the Eating and Drinking Places median is 5.9%.
Company guidance
No outlook found in earnings releases from the last twelve months.
Gross margin trend
This company does not report gross profit.
Past performance1/6
Return on equity
Needs positive equity and five years of results.
Return on capital over 10%
Return on invested capital was 39.1%, above the 10% that usually covers the cost of capital.
Return on equity against the industry
Needs positive equity.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin against its history
Needs five years of revenue and net income.
Net margin against the industry
Needs revenue and net income.
Financial health5/6
No debt
Luckin Coffee has no borrowings on its latest balance sheet.
Debt not rising
With no debt today, leverage cannot have risen.
Debt covered by cash flow
There is no debt to cover.
Interest well covered
Operating income covers interest expense 40583.5 times.
Short-term assets cover short-term debts
Current assets are 1.70 times current liabilities.
Bankruptcy risk (Altman Z)
Needs market value, working capital and retained earnings.
Dividend0/6
No dividend
Luckin Coffee has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itWe don't publish a fair value for Luckin Coffee. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Margins
Share of revenue, fiscal years 2017 to 2025
Operating margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +43.0% | +54.8% | +65.0% | – | |
| Operating income | +42.1% | +63.7% | – | – | |
| EPS, diluted | +20.7% | +94.6% | – | – | |
| Free cash flow | +79.9% | – | – | – |
Returns and balance sheet
9 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Current ratio | – | 6.41 | 1.70 | |
| Debt to equity | – | – | – | |
| Net debt to EBITDA | – | – | – | |
| Interest coverage | – | -22.2× | 40583.5× | |
| Capex to revenue | – | 20.4% | 5.3% | |
| Diluted shares | – | 2.02B | 2.57B |
Where the cash went
Fiscal 2021 to 2025, five years combined
Luckin Coffee generated CN¥13.36B from operations and spent CN¥8.63B on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
DuPont needs revenue, assets and equity
This company does not report all three for consecutive years.
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero–
- Cash generatingOperating cash flow above zeroCN¥6.09B
- Return on assets improvedROA up on the prior year– → –
- Earnings backed by cashOperating cash flow above net incomeCN¥6.09B vs –
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.60 → 1.70
- No dilutionShare count did not rise2.55B → 2.57B
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose1.88 → 2.13
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