Luckin Coffee (LKNCY) Gross Margin (2018 - 2026)
Luckin Coffee (LKNCY) posted Gross Margin of 61.45% for Q2 2026, down 1.33 percentage points from 62.78% a year earlier but up 1.91 percentage points from the prior quarter.
Luckin Coffee (LKNCY) Gross Margin (2018 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Gross Margin at Luckin Coffee was 61.33%, up 0.27 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 increased in six of the last eight quarters, with an average year-over-year change of +3.18 percentage points.
- 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 59.54% (Q1 2026), 60.02% (Q4 2025) and 63.76% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Mcdonalds | 197.03 Bn | 191.85 Bn | 6.42 Bn | 90.42% |
| 2 | Starbucks | 121.44 Bn | 109.07 Bn | - | - |
| 3 | Yum Brands | 45.58 Bn | 42.47 Bn | 1.47 Bn | 67.73% |
| 4 | Chipotle Mexican Grill | 45.08 Bn | 41.58 Bn | - | - |
| 5 | Restaurant Brands International | 27.34 Bn | 23.13 Bn | 1.40 Bn | 55.37% |
| 6 | Darden Restaurants | 25.92 Bn | 25.01 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 | 17.29 Bn | 10.94 Bn | 537.00 Mn | 17.11% |
| 9 | Texas Roadhouse | 12.62 Bn | 11.96 Bn | - | - |
| 10 | Luckin Coffee | 10.74 Bn | 5.83 Bn | 1.64 Bn | 61.69% |
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% |
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_KEY
import 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();