Full Truck Alliance Co. Ltd. (YMM) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Full Truck Alliance Co. Ltd. (YMM) stock price & volume — 10-year historical chart
Full Truck Alliance Co. Ltd. (YMM) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Full Truck Alliance Co. Ltd. (YMM) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 12, 2026 | $0.14vs $0.14+0.0% | $480Mvs $447M+7.4% |
| Q4 2025 | Nov 17, 2025 | $0.13vs $0.14-7.1% | $472Mvs $3.1B-84.9% |
| Q3 2025 | Aug 21, 2025 | $0.18vs $0.16+12.5% | $452Mvs $3.1B-85.5% |
| Q2 2025 | May 21, 2025 | $0.18vs $0.17+5.9% | $371Mvs $3.1B-87.9% |
Full Truck Alliance Co. Ltd. (YMM) competitors in Vertical industry SaaS applications — business model, growth, and fundamentals comparison
Full Truck Alliance Co. Ltd. (YMM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Full Truck Alliance Co. Ltd. (YMM) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Sales/Revenue | 2.47B | 2.58B | 4.66B | 6.73B | 8.44B | 11.24B | 12.14B |
| Revenue Growth % | - | 4.36% | 80.45% | 44.59% | 25.28% | 33.22% | 25.14% |
| Cost of Goods Sold | 1.39B | 1.32B | 2.54B | 3.51B | 1.23B | 1.5B | 3.49B |
| COGS % of Revenue | 56.2% | 50.99% | 54.54% | 52.19% | 14.61% | 13.38% | - |
| Gross Profit | 1.08B▲ 0% | 1.26B▲ 16.8% | 2.12B▲ 67.4% | 3.22B▲ 52.1% | 7.2B▲ 123.8% | 9.73B▲ 35.1% | 8.66B▲ 0% |
| Gross Margin % | 43.8% | 49.01% | 45.46% | 47.81% | 85.39% | 86.62% | 71.27% |
| Gross Profit Growth % | - | 16.77% | 67.38% | 52.06% | 123.78% | 35.14% | - |
| Operating Expenses | 2.1B | 4.88B | 5.91B | 3.38B | 6.21B | 7.26B | 4.72B |
| OpEx % of Revenue | 85.07% | 189.06% | 126.97% | 50.21% | 73.57% | 64.6% | - |
| Selling, General & Admin | 1.59B | 4.39B | 5.11B | 2.32B | 2.18B | 2.51B | 2.49B |
| SG&A % of Revenue | 64.4% | 170.21% | 109.69% | 34.46% | 25.8% | 22.34% | - |
| Research & Development | 396.69M | 413.37M | 729.67M | 914.15M | 946.63M | 880.02M | 783.15M |
| R&D % of Revenue | 16.04% | 16.02% | 15.67% | 13.58% | 11.22% | 7.83% | - |
| Other Operating Expenses | 114.57M | 73.13M | 74.84M | 146.74M | 3.08B | 3.87B | 4M |
| Operating Income | -1.02B▲ 0% | -3.61B▼ 254.2% | -3.8B▼ 5.0% | -162M▲ 95.7% | 997.43M▲ 715.7% | 2.47B▲ 148.1% | 3.94B▲ 0% |
| Operating Margin % | -41.27% | -140.06% | -81.51% | -2.41% | 11.82% | 22.02% | 32.44% |
| Operating Income Growth % | - | -254.16% | -5.02% | 95.73% | 715.69% | 148.14% | - |
| EBITDA | -949.89M | -3.55B | -3.73B | -73.66M | 1.07B | 2.55B | 3.98B |
| EBITDA Margin % | -38.41% | -137.59% | -80.06% | -1.09% | 12.71% | 22.72% | 32.75% |
| EBITDA Growth % | - | -273.82% | -5% | 98.02% | 1555.59% | 138.11% | 173.59% |
| D&A (Non-Cash Add-back) | 70.71M | 63.67M | 67.42M | 88.34M | 74.74M | 77.93M | 37.37M |
| EBIT | -1.52B | -3.44B | -3.64B | -162.49M | 2.33B | 2.47B | 3.94B |
| Net Interest Income | 189.31M | 201.47M | 234.61M | 483.48M | 1.14B | 1.07B | 949.55M |
| Interest Income | 229.31M | 209.83M | 234.65M | 483.66M | 1.14B | 1.07B | 949.55M |
| Interest Expense | 40M | 8.37M | 40K | 175K | 0 | 0 | 0 |
| Other Income/Expense | -535.74M | 163.01M | 155.61M | 669.94M | 1.34B | 887.87M | 815.83M |
| Pretax Income | -1.56B▲ 0% | -3.45B▼ 121.8% | -3.64B▼ 5.5% | 507.94M▲ 114.0% | 2.33B▲ 359.5% | 3.36B▲ 44.1% | 4.76B▲ 0% |
| Pretax Margin % | -62.93% | -133.74% | -78.17% | 7.54% | 27.67% | 29.92% | 39.16% |
| Income Tax | -14.68M | 19.34M | 14.19M | 96.03M | 106.8M | 239.41M | 514.93M |
| Effective Tax Rate % | 0.94% | -0.56% | -0.39% | 18.91% | 4.58% | 7.12% | 10.83% |
| Net Income | -1.52B▲ 0% | -3.47B▼ 127.8% | -3.65B▼ 5.3% | 406.76M▲ 111.1% | 2.21B▲ 444.0% | 3.07B▲ 38.7% | 4.18B▲ 0% |
| Net Margin % | -61.61% | -134.49% | -78.47% | 6.04% | 26.23% | 27.32% | 34.41% |
| Net Income Growth % | - | -127.8% | -5.29% | 111.13% | 444.03% | 38.73% | 60.55% |
| Net Income (Continuing) | -1.54B | -3.47B | -3.65B | 411.9M | 2.23B | 3.12B | 4.24B |
| Discontinued Operations | 0 | 452K | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 430K | 422K | 73.44M | 149.77M | 290.22M | 458.45M | 594.97M |
| EPS (Diluted) | -1.42▲ 0% | -3.20▼ 125.4% | -3.40▼ 6.2% | 0.40▲ 111.8% | 2.00▲ 400.0% | 2.94▲ 47.0% | 3.99▲ 0% |
| EPS Growth % | - | -125.35% | -6.25% | 111.76% | 400% | 47% | 1693.33% |
| EPS (Basic) | -1.42 | -3.20 | -3.40 | 0.40 | 2.00 | 2.95 | - |
| Diluted Shares Outstanding | 1.09B | 1.09B | 1.08B | 1.08B | 1.06B | 1.05B | 1.05B |
| Basic Shares Outstanding | 1.09B | 1.09B | 1.08B | 1.08B | 1.06B | 1.04B | 1.04B |
| Dividend Payout Ratio | - | - | - | - | - | 34.66% | - |
Full Truck Alliance Co. Ltd. (YMM) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Total Current Assets | 12.5B | 20.68B | 28.9B | 31B | 24B | 27.26B | 23.8B |
| Cash & Short-Term Investments | 10.3B | 18.79B | 25.92B | 26.22B | 18.29B | 20.81B | 16.74B |
| Cash Only | 3.98B | 10.06B | 4.28B | 5.14B | 6.77B | 5.81B | 4.4B |
| Short-Term Investments | 6.31B | 8.73B | 21.63B | 21.09B | 11.52B | 15B | 12.34B |
| Accounts Receivable | 89.34M | 149.97M | 170.83M | 4.58B | 5.23B | 6.12B | 4.91B |
| Days Sales Outstanding | 13.19 | 21.21 | 13.39 | 248.17 | 226.47 | 198.79 | 149.67 |
| Inventory | 193.36M | 107.36M | 65.82M | 83.76M | 0 | 0 | 0 |
| Days Inventory Outstanding | 50.78 | 29.78 | 9.46 | 8.7 | - | - | - |
| Other Current Assets | 2.12B | 1.59B | 2.57B | 35.95M | 5.69B | 210.79M | 2.15B |
| Total Non-Current Assets | 4.46B | 4.45B | 5.5B | 5.69B | 15.35B | 14.03B | 18.8B |
| Property, Plant & Equipment | 51.36M | 81.98M | 102.16M | 240.82M | 329.44M | 407.37M | 446.42M |
| Fixed Asset Turnover | 48.15x | 31.48x | 45.59x | 27.96x | 25.61x | 27.59x | 29.51x |
| Goodwill | 2.78B | 2.87B | 3.12B | 3.12B | 3.12B | 3.12B | 3.12B |
| Intangible Assets | 529.23M | 491.28M | 557.02M | 502.42M | 449.9M | 393.48M | 367.06M |
| Long-Term Investments | 985.26M | 875.21M | 1.68B | 1.77B | 11.08B | 9.88B | 43.78B |
| Other Non-Current Assets | 94M | 117.5M | 17.35M | 8.43M | 370.75M | 227.21M | 830.68M |
| Total Assets | 16.96B▲ 0% | 25.13B▲ 48.2% | 34.4B▲ 36.9% | 36.7B▲ 6.7% | 39.35B▲ 7.2% | 41.29B▲ 4.9% | 42.6B▲ 0% |
| Asset Turnover | 0.15x | 0.10x | 0.14x | 0.18x | 0.21x | 0.27x | 0.29x |
| Asset Growth % | - | 48.21% | 36.86% | 6.68% | 7.23% | 4.93% | 24.12% |
| Total Current Liabilities | 2.28B | 1.96B | 2.73B | 2.73B | 3.27B | 3.02B | 2.68B |
| Accounts Payable | 17.98M | 23.84M | 29.38M | 27.95M | 25.22M | 31.23M | 29.48M |
| Days Payables Outstanding | 4.72 | 6.61 | 4.22 | 2.9 | 7.47 | 7.58 | 3.07 |
| Short-Term Debt | 500M | 0 | 9M | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 1.13B | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 38.92M | 1.3B | 1.47B | 1.49B | 1.89B | 907.4M | 646.86M |
| Current Ratio | 5.48x | 10.54x | 10.57x | 11.35x | 7.33x | 9.03x | 9.03x |
| Quick Ratio | 5.39x | 10.49x | 10.55x | 11.32x | 7.33x | 9.03x | 9.03x |
| Cash Conversion Cycle | 59.24 | 44.38 | 18.63 | 253.97 | - | - | 146.6 |
| Total Non-Current Liabilities | 123.33M | 118.78M | 135.76M | 157.54M | 178.25M | 131.91M | 108.68M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 35.93M | 46.71M | 23.93M | 81.17M |
| Deferred Tax Liabilities | 123.33M | 118.78M | 135.76M | 121.61M | 108.59M | 0 | 280.2M |
| Other Non-Current Liabilities | 0 | 0 | 0 | 121.61M | 22.95M | 107.98M | 144.72M |
| Total Liabilities | 2.4B | 2.08B | 2.87B | 2.89B | 3.45B | 3.15B | 2.79B |
| Total Debt | 500M | 0 | 9M | 80.52M | 84.47M | 65.13M | 52.15M |
| Net Debt | -3.48B | -10.06B | -4.28B | -5.06B | -6.69B | -5.75B | -4.35B |
| Debt / Equity | 0.03x | - | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Debt / EBITDA | - | - | - | - | 0.08x | 0.03x | 0.01x |
| Net Debt / EBITDA | - | - | - | - | -6.24x | -2.25x | -2.25x |
| Interest Coverage | -25.52x | -432.01x | -94898.58x | -925.73x | - | - | - |
| Total Equity | 14.55B▲ 0% | 23.05B▲ 58.4% | 31.53B▲ 36.8% | 33.81B▲ 7.2% | 35.89B▲ 6.2% | 38.14B▲ 6.2% | 39.81B▲ 0% |
| Equity Growth % | - | 58.39% | 36.77% | 7.23% | 6.18% | 6.24% | 29.81% |
| Book Value per Share | 13.40 | 21.23 | 29.30 | 31.33 | 33.92 | 36.49 | 37.99 |
| Total Shareholders' Equity | 14.55B | 23.05B | 31.46B | 33.66B | 35.6B | 37.68B | 39.22B |
| Common Stock | 226K | 296K | 1.42M | 1.38M | 1.37M | 1.34M | 1.34M |
| Retained Earnings | -9.9B | -13.37B | -17.02B | -16.61B | -14.4B | -11.37B | -8.91B |
| Treasury Stock | 0 | 0 | 0 | 0 | -608.12M | 0 | 0 |
| Accumulated OCI | 1.57B | 1.07B | 538.65M | 2.51B | 2.9B | 3.22B | 3.13B |
| Minority Interest | 430K | 422K | 73.44M | 149.77M | 290.22M | 458.45M | 594.97M |
Full Truck Alliance Co. Ltd. (YMM) cash flow — operating, investing & free cash flow history
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Cash from Operations | -923.97M | 574.74M | -211.42M | -15.52M | 2.27B | 2.97B | 2.97B |
| Operating CF Margin % | -37.36% | 22.27% | -4.54% | -0.23% | 26.9% | 26.43% | - |
| Operating CF Growth % | - | 162.2% | -136.78% | 92.66% | 14724.01% | 30.86% | 0% |
| Net Income | -1.52B | -3.47B | -3.65B | 411.9M | 2.23B | 3.12B | 4.18B |
| Depreciation & Amortization | 70.71M | 63.67M | 67.42M | 88.34M | 74.74M | 77.93M | 0 |
| Stock-Based Compensation | 455.63M | 3.25B | 3.63B | 919.25M | 441.83M | 496.64M | 404.53M |
| Deferred Taxes | 0 | 0 | 392.42M | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 902.48M | 361.18M | -25.88M | 265.15M | 234.85M | 693.78M | -4.58B |
| Working Capital Changes | -829.13M | 366.04M | -619.46M | -1.7B | -708.87M | -1.42B | 0 |
| Change in Receivables | -6.45M | -16.4M | 18.8M | 14.07M | -10.04M | -971.29M | 0 |
| Change in Inventory | -779.88M | 389.08M | -630.82M | 0 | -575.48M | 0 | 0 |
| Change in Payables | -18.46M | 5.86M | 5.31M | -1.43M | -2.73M | 6.01M | 0 |
| Cash from Investing | -3.39B | -2.69B | -14.4B | 2.13B | 553.74M | -2.42B | 0 |
| Capital Expenditures | -10.42M | -53.06M | -43.22M | -85.69M | -100.34M | 0 | 0 |
| CapEx % of Revenue | 0.42% | 2.06% | 0.93% | 1.27% | 1.19% | 0.67% | - |
| Acquisitions | 2.07M | -17.73M | -230.48M | -75.08M | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - |
| Other Investing | -3.95M | 187.71M | 7.16M | 735K | 1.4M | -2.42B | 0 |
| Cash from Financing | 1.69B | 8.32B | 8.9B | -1.33B | -1.17B | -1.52B | 0 |
| Debt Issued (Net) | -14.41M | -1.81B | 0 | -9M | 0 | 0 | 0 |
| Equity Issued (Net) | 1000K | 1000K | 1000K | -1000K | -1000K | -1000K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | -1.06B | 0 |
| Share Repurchases | -384.88M | -557.84M | -2.59B | -1.39B | -1.37B | -575.27M | 0 |
| Other Financing | 420.1M | -388.61M | 42.12M | 71.2M | 207.82M | 119.69M | 0 |
| Net Change in Cash | -2.6B▲ 0% | 6.08B▲ 333.7% | -5.8B▼ 195.3% | 857.46M▲ 114.8% | 1.68B▲ 95.4% | -945.53M▼ 156.4% | 0▲ 0% |
| Free Cash Flow | -934.38M▲ 0% | 521.68M▲ 155.8% | -254.64M▼ 148.8% | -101.21M▲ 60.3% | 2.17B▲ 2243.5% | 2.9B▲ 33.5% | 0▲ 0% |
| FCF Margin % | -37.78% | 20.21% | -5.47% | -1.5% | 25.71% | 25.76% | - |
| FCF Growth % | - | 155.83% | -148.81% | 60.26% | 2243.45% | 33.46% | - |
| FCF per Share | -0.86 | 0.48 | -0.24 | -0.09 | 2.05 | 2.77 | 2.77 |
| FCF Conversion (FCF/Net Income) | 0.61x | -0.17x | 0.06x | -0.04x | 1.03x | 0.97x | 0.00x |
| Interest Paid | 39.92M | 9.05M | 65K | 175K | 0 | 0 | 0 |
| Taxes Paid | 5.25M | 16.38M | 49.61M | 110.49M | 124.73M | 108.72M | 0 |
Full Truck Alliance Co. Ltd. (YMM) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -18.46% | -13.39% | 1.25% | 6.35% | 8.29% | 10.89% |
| Return on Invested Capital (ROIC) | -22.53% | -14.15% | -0.43% | 2.58% | 6.03% | 6.03% |
| Gross Margin | 49.01% | 45.46% | 47.81% | 85.39% | 86.62% | 71.27% |
| Net Margin | -134.49% | -78.47% | 6.04% | 26.23% | 27.32% | 34.41% |
| Debt / Equity | - | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Interest Coverage | -432.01x | -94898.58x | -925.73x | - | - | - |
| FCF Conversion | -0.17x | 0.06x | -0.04x | 1.03x | 0.97x | 0.00x |
| Revenue Growth | 4.36% | 80.45% | 44.59% | 25.28% | 33.22% | 25.14% |
Full Truck Alliance Co. Ltd. (YMM) stock FAQ — growth, dividends, profitability & financials explained
Full Truck Alliance Co. Ltd. (YMM) reported $12.14B in revenue for fiscal year 2024. This represents a 391% increase from $2.47B in 2019.
Full Truck Alliance Co. Ltd. (YMM) grew revenue by 33.2% over the past year. This is strong growth.
Yes, Full Truck Alliance Co. Ltd. (YMM) is profitable, generating $4.18B in net income for fiscal year 2024 (27.3% net margin).
Yes, Full Truck Alliance Co. Ltd. (YMM) pays a dividend with a yield of 1.65%. This makes it attractive for income-focused investors.
Full Truck Alliance Co. Ltd. (YMM) has a return on equity (ROE) of 8.3%. This is below average, suggesting room for improvement.
Full Truck Alliance Co. Ltd. (YMM) generated $2.90B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
Full Truck Alliance Co. Ltd. (YMM) financial analysis — history, returns, DCA and operating performance tools
Analyst verdict, bull/bear case, risk factors and peer comparison
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates