Luckin Coffee (LKNCY) Gross Margin (2018 - 2026)
Luckin Coffee (LKNCY) posted Gross Margin of 61.69% for Q3 2026, down 2.07 percentage points from 63.76% a year earlier but up 0.24 percentage points from the prior quarter.
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Analysis
Luckin Coffee (LKNCY) Gross Margin (2018 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, Gross Margin at Luckin Coffee was 60.83%, down 1.11 percentage points year-over-year; for FY2025, it came in at 23.52%, up 2.27 percentage points from FY2024.
- Annual Gross Margin shows a five-year change of -27.01 percentage points (FY2020 to FY2025).
- In prior years, Luckin Coffee's Gross Margin was 21.25% in FY2024 (-3.75 pp), 25.00% in FY2023 (+4.01 pp), 20.99% in FY2022 (+4.60 pp) and 16.40% in FY2021 (-34.13 pp).
- Quarterly Gross Margin has run from a low of 50.33% in Q4 2023 to a high of 63.76% in Q3 2025 over five years.
- On a year-over-year basis, Gross Margin has declined in each of the last three quarters, with an average year-over-year change of +2.28 percentage points over the last eight quarters.
- The strongest year-over-year quarter for Gross Margin in the past five years was Q4 2024, with a gain of 9.65 percentage points; the weakest was Q4 2023, with a drop of 9.26 percentage points.
- According to Business Quant data, Gross Margin for the three prior quarters was 61.45% (Q2 2026), 59.54% (Q1 2026) and 60.02% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Mcdonalds | 195.98 Bn | 190.80 Bn | 6.42 Bn | 90.42% |
| 2 | Starbucks | 120.13 Bn | 107.76 Bn | - | - |
| 3 | Yum Brands | 44.36 Bn | 41.25 Bn | 1.47 Bn | 67.73% |
| 4 | Chipotle Mexican Grill | 43.92 Bn | 40.41 Bn | - | - |
| 5 | Restaurant Brands International | 27.10 Bn | 22.88 Bn | 1.40 Bn | 55.37% |
| 6 | Darden Restaurants | 25.62 Bn | 24.72 Bn | 1.68 Bn | 52.65% |
| 7 | Restaurant Brands International Limited Partnership | 24.67 Bn | 20.46 Bn | 1.40 Bn | 55.37% |
| 8 | Yum China Holdings | 17.38 Bn | 11.04 Bn | 537.00 Mn | 17.11% |
| 9 | Texas Roadhouse | 12.08 Bn | 11.42 Bn | - | - |
| 10 | Luckin Coffee | 10.86 Bn | 5.95 Bn | 1.64 Bn | 61.69% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 61.69% |
| Jun 30, 2026 | 61.45% |
| Mar 31, 2026 | 59.54% |
| Dec 31, 2025 | 60.02% |
| Sep 30, 2025 | 63.76% |
| Jun 30, 2025 | 62.78% |
| Mar 31, 2025 | 59.70% |
| Dec 31, 2024 | 59.98% |
| Sep 30, 2024 | 61.15% |
| Jun 30, 2024 | 59.91% |
| Mar 31, 2024 | 53.10% |
| Dec 31, 2023 | 50.33% |
| Sep 30, 2023 | 56.02% |
| Jun 30, 2023 | 60.31% |
| Mar 31, 2023 | 60.45% |
| Dec 31, 2022 | 59.58% |
| Sep 30, 2022 | 63.01% |
| Jun 30, 2022 | 61.74% |
| Mar 31, 2022 | 59.11% |
| Dec 31, 2021 | 59.76% |
API Access
Luckin Coffee Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=LKNCY&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "LKNCY", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=LKNCY&period=max&api_key=YOUR_API_KEY");
const data = await res.json();