The only way to really tell would be to take the thing apart, measure current out of the batteries, and the terminal voltage across the batteries to find input power, then to measure output current, and voltage across the emitter to find the output power, then divide the output by the input. The problem is that this figure will be drastically different depending on the battery state-of-charge, and internal resistance. To accurately find the overall percentage efficiency, it would be necessary to find the average efficiency throughout the entire state-of-charge. In general though, switching regulators are more efficient when the voltage input is close to the voltage output. Running an LED off of 2xAA or 1xCR123 will usually be inherently more efficient than 1xAA. Also, buck conveters (voltage stepdown) are almost always more efficient than boost converters.
Also, another issue is that many boost circuits have a low-voltage cutoff where they may fail to start up, and other such problems. If a converter leaves battery capacity unused for some reason, even if it is more efficient while it is running, it may worse on the whole in terms of minimizing battery use.
Another issue is battery internal resistance. The more current is pulled from a battery, the more the voltage (and consequently the power that it delivers) will "sag". This is especially a concern in boost converter lights which operate at low voltage on the input side, they must draw a very high current to meet power demands, and as the battery's voltage starts to sag, the converter starts to demand more and more current to try to compensate for the lower voltage (and in many cases lower driver efficiency at that voltage as well), causing power to be lost due to internal resistance to increase as well -- which would not be taken into account in my efficiency calculations described above (power out/power in)
This is why in high power boost lights like the L0D-CE, or L1T, batteries with low internal resistance like NiMH will maintain maximum brightness for many many times longer than Alkaline cells which cannot keep up with demands. On lower brightness levels though where current pulled from the tailcap is not too great, NiMH and alkalines are about equal.