6 years of historical data (2019–2024) · Technology · Software - Application
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Full Truck Alliance Co. Ltd. trades at 21.9x earnings, 142% above its 5-year average of 9.1x, sitting at the 100th percentile of its historical range. Compared to the Technology sector median P/E of 25.2x, the stock trades at a discount of 13%. On a free-cash-flow basis, the stock trades at 47.4x P/FCF, 1194% above the 5-year average of 3.7x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Market Cap | $20.0B | $11.3B | $7.4B | $8.6B | $9.0B | — | — |
| Enterprise Value | $19.2B | $5.6B | $731M | $3.6B | $4.7B | — | — |
| P/E Ratio → | 21.89 | 3.68 | 3.50 | 20.00 | — | — | — |
| P/S Ratio | 12.21 | 1.01 | 0.88 | 1.28 | 1.93 | — | — |
| P/B Ratio | 1.76 | 0.30 | 0.21 | 0.26 | 0.29 | — | — |
| P/FCF | 47.38 | 3.91 | 3.42 | — | — | — | — |
| P/OCF | 46.19 | 3.81 | 3.27 | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Full Truck Alliance Co. Ltd.'s enterprise value stands at 51.5x EBITDA, 3499% above its 5-year average of 1.4x. The Technology sector median is 15.7x, placing the stock at a 227% premium on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.49 | 0.09 | 0.53 | 1.02 | — | — |
| EV / EBITDA | 51.48 | 2.18 | 0.68 | — | — | — | — |
| EV / EBIT | 53.11 | 2.25 | 0.31 | — | — | — | — |
| EV / FCF | — | 1.92 | 0.34 | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full Truck Alliance Co. Ltd. earns an operating margin of 22.0%. Operating margins have expanded from -2.4% to 22.0% over the past 3 years, signaling improving operational efficiency. ROE of 8.3% is modest. ROIC of 6.0% represents adequate returns on invested capital.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 86.6% | 86.6% | 85.4% | 47.8% | 45.5% | 49.0% | 43.8% |
| Operating Margin | 22.0% | 22.0% | 11.8% | -2.4% | -81.5% | -140.1% | -41.3% |
| Net Profit Margin | 27.3% | 27.3% | 26.2% | 6.0% | -78.5% | -134.5% | -61.6% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| ROE | 8.3% | 8.3% | 6.3% | 1.2% | -13.4% | -18.5% | -10.5% |
| ROA | 7.6% | 7.6% | 5.8% | 1.1% | -12.3% | -16.5% | -9.0% |
| ROIC | 6.0% | 6.0% | 2.6% | -0.4% | -14.1% | -22.5% | -6.9% |
| ROCE | 6.7% | 6.7% | 2.8% | -0.5% | -13.8% | -19.1% | -7.0% |
Solvency and debt-coverage ratios — lower is generally safer
Full Truck Alliance Co. Ltd. carries a Debt/EBITDA ratio of 0.0x, which is very conservative (99% below the sector average of 3.0x). The company holds a net cash position — cash of $5.8B exceeds total debt of $65M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | 0.03 |
| Debt / EBITDA | 0.03 | 0.03 | 0.08 | — | — | — | — |
| Net Debt / Equity | — | -0.15 | -0.19 | -0.15 | -0.14 | -0.44 | -0.24 |
| Net Debt / EBITDA | -2.25 | -2.25 | -6.24 | — | — | — | — |
| Debt / FCF | — | -1.98 | -3.08 | — | — | -19.28 | — |
| Interest Coverage | — | — | — | -925.73 | -94898.57 | -432.01 | -25.52 |
Net cash position: cash ($5.8B) exceeds total debt ($65M)
Short-term solvency ratios and asset-utilisation metrics
Full Truck Alliance Co. Ltd.'s current ratio of 9.03x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 11.35x to 9.03x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 9.03 | 9.03 | 7.33 | 11.35 | 10.57 | 10.54 | 5.48 |
| Quick Ratio | 9.03 | 9.03 | 7.33 | 11.32 | 10.55 | 10.49 | 5.39 |
| Cash Ratio | 6.89 | 6.89 | 5.58 | 9.60 | 9.48 | 9.58 | 4.51 |
| Asset Turnover | — | 0.27 | 0.21 | 0.18 | 0.14 | 0.10 | 0.15 |
| Inventory Turnover | 41.96 | — | — | 41.96 | 38.59 | 12.26 | 7.19 |
| Days Sales Outstanding | — | 198.79 | 226.47 | 248.17 | 13.39 | 21.21 | 13.19 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full Truck Alliance Co. Ltd. returns 2.0% to shareholders annually — split between a 1.6% dividend yield and 0.4% buyback yield. The payout ratio of 34.7% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 4.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.6% | 9.4% | — | — | — | — | — |
| Payout Ratio | 34.7% | 34.7% | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.6% | 27.2% | 28.5% | 5.0% | — | — | — |
| FCF Yield | 2.1% | 25.6% | 29.2% | — | — | — | — |
| Buyback Yield | 0.4% | 5.1% | 18.5% | 16.1% | 28.7% | — | — |
| Total Shareholder Yield | 2.0% | 14.5% | 18.5% | 16.1% | 28.7% | — | — |
| Shares Outstanding | — | $1.0B | $1.1B | $1.1B | $1.1B | $1.1B | $1.1B |
Compare YMM with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| YMMYou | $20B | 21.9 | 51.5 | 47.4 | 86.6% | 22.0% | 8.3% | 6.0% | 0.0 |
| SAP | $235B | 28.5 | 17.8 | 25.1 | 73.5% | 28.0% | 15.5% | 16.1% | 0.7 |
| UBER | $157B | 16.0 | 25.8 | 16.1 | 39.8% | 10.7% | 39.8% | 13.6% | 2.1 |
| QXO | $17B | -38.0 | 107.3 | 92.6 | 23.0% | -3.6% | -3.8% | -3.1% | 25.2 |
| TYL | $15B | 58.6 | 33.5 | 25.3 | 41.0% | 14.0% | 8.3% | 6.7% | 1.4 |
| PCOR | $9B | -82.1 | — | 39.8 | 78.4% | -8.9% | -7.9% | -9.7% | — |
| DSGX | $6B | 40.4 | 21.4 | 26.8 | 75.6% | 27.8% | 10.9% | 13.1% | 0.0 |
| COMP | $5B | -28.7 | 23.1 | 26.8 | 16.3% | -0.8% | -39.0% | -7.7% | 1.8 |
| APPF | $4B | 45.8 | 24.2 | 18.1 | 61.3% | 16.1% | 26.5% | 23.2% | 0.2 |
| COE | $3B | -20.6 | — | 3471.4 | 78.0% | -15.9% | — | — | — |
| GBTG | $3B | -18.2 | 12.0 | 15.6 | 60.1% | 4.7% | -12.2% | 4.1% | 5.0 |
| Technology Median | — | 25.2 | 15.7 | 17.3 | 49.8% | -0.9% | 1.1% | 2.9% | 3.0 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 6 years · Updated daily
Full Truck Alliance Co. Ltd.'s current P/E ratio is 21.9x. The historical average is 9.1x. This places it at the 100th percentile of its historical range.
Full Truck Alliance Co. Ltd.'s current EV/EBITDA is 51.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 1.4x.
Full Truck Alliance Co. Ltd.'s return on equity (ROE) is 8.3%. The historical average is -4.4%.
Based on historical data, Full Truck Alliance Co. Ltd. is trading at a P/E of 21.9x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Full Truck Alliance Co. Ltd.'s current dividend yield is 1.58% with a payout ratio of 34.7%.
Full Truck Alliance Co. Ltd. has 86.6% gross margin and 22.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Full Truck Alliance Co. Ltd.'s Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.