LKNCY vs THCH
Luckin Coffee Inc. and TH International Ltd., side by side — 6 fiscal years reported in CNY, drawn from SEC filings.
Most recent reported year
| Metric | LKNCY | THCH |
|---|---|---|
| Revenue | CNY 49.3B | CNY 1.3B |
| Net income | CNY 3.6B | CNY -434.5M |
| Gross margin | · | 87.0% |
| Net margin | 7.3% | −33.1% |
| Return on equity | 26.5% | · |
| Diluted EPS | CNY 1.40 | −CNY 13.36 |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | CNY 3.5B | CNY -78.3M |
| Equity | CNY 15.6B | CNY -1.2B |
| Net debt / equity | · | · |
| Current ratio | 1.70× | 0.33× |
| Revenue CAGR 5y | 65.0% | 44.1% |
| Profit CAGR 5y | · | · |
LKNCY bills 37.4× the revenue of THCH, and THCH closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
6 years side by side
| Fiscal year | LKNCY | THCH |
|---|---|---|
| FY2025 | CNY 49.3B | CNY 1.3B |
| FY2024 | CNY 34.5B | CNY 1.4B |
| FY2023 | CNY 24.9B | CNY 1.6B |
| FY2022 | CNY 13.3B | CNY 1.0B |
| FY2021 | CNY 8.0B | CNY 643.4M |
| FY2020 | CNY 4.0B | CNY 212.1M |
Bottom line
| Fiscal year | LKNCY | THCH |
|---|---|---|
| FY2025 | CNY 3.6B | CNY -434.5M |
| FY2024 | CNY 3.0B | CNY -412.1M |
| FY2023 | CNY 2.8B | CNY -876.3M |
| FY2022 | CNY 488.2M | CNY -742.6M |
| FY2021 | CNY 578.7M | CNY -381.7M |
| FY2020 | CNY -5.6B | CNY -142.0M |
6 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +CNY 47,971,898,526 | LKNCY |
| FY2024 | +CNY 33,083,656,189 | LKNCY |
| FY2023 | +CNY 23,343,160,193 | LKNCY |
| FY2022 | +CNY 12,281,918,234 | LKNCY |
| FY2021 | +CNY 7,321,951,051 | LKNCY |
| FY2020 | +CNY 3,821,333,429 | LKNCY |
LKNCY has reported the higher revenue in every one of these 6 fiscal years. The gap has widened since the earliest year compared.
6 of 8 comparable fiscal years — a year missing data on either side is not counted.
6 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +40.4 pp | LKNCY |
| FY2024 | +38.0 pp | LKNCY |
| FY2023 | +67.4 pp | LKNCY |
| FY2022 | +77.3 pp | LKNCY |
| FY2021 | +66.8 pp | LKNCY |
| FY2020 | −71.5 pp | THCH |
The higher net margin has changed hands between LKNCY and THCH over this period.
6 of 8 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
LKNCY's net margin has been more volatile than THCH's over the 6 comparable fiscal years — 54.7 percentage points of standard deviation against 16.5.
6 of 8 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between LKNCY and THCH over these 6 fiscal years — LKNCY led in 5 and THCH in 1.
6 of 8 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
THCH's return on equity has been more volatile than LKNCY's over the 3 comparable fiscal years — 129.3 percentage points of standard deviation against 75.5.
3 of 6 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between LKNCY and THCH over these 3 fiscal years — LKNCY led in 2 and THCH in 1.
3 of 6 comparable fiscal years — a year missing data on either side is not counted.