Energy efficiency of LED bulb and Incandescent light bulb can be compared by conversion of electricity to light. Efficency depends also on used technology, so it can be a bit different in case of each bulb manufacturer.
Incandescent bulbs turn the most of used electricity into heat (around 90%). So only 10% of used electricity is converted to light.
LED lights are more energy efficient, because they can use around 75% less energy, to provide the same level of brightness like Incandescent bulbs.
You can check the efficiency of bulbs by comparing the Brightness in Lumens and Energy usage in Watts. These information are usually written on the package.
Bulb wattage comparison:
Incandescent light bulb - to get approx. 1500 lumen brightness, you need a 100W bulb.
LED bulb - to get approx. 1500 lumen brightness, you need a 14W bulb.