Full Truck Alliance Co. Ltd. (YMM) Financial Ratios
7 years of historical data (2019–2025) · Technology · Software - Application
EV/EBITDA
↑
12.43
↑+799% vs avg
5yr avg: 1.38
30Y Low0.7·High2.2
P/FCF
↓
12.36
↑+278% vs avg
5yr avg: 3.27
30Y Low2.5·High3.9
P/B Ratio
↓
1.35
↑+415% vs avg
5yr avg: 0.26
30Y Low0.2·High0.3
ROE
↑
10.8%
↓+306% vs avg
5yr avg: 2.7%
30Y Low-18%·High11%
Debt/EBITDA
↓
0.01
↓-76% vs avg
5yr avg: 0.04
30Y Low0.0·High0.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
YMM Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Full Truck Alliance Co. Ltd. trades at 12.7x earnings, 71% above its 5-year average of 7.4x, sitting at the 75th percentile of its historical range. Compared to the Technology sector median P/E of 28.3x, the stock trades at a discount of 55%. On a free-cash-flow basis, the stock trades at 12.4x P/FCF, 278% above the 5-year average of 3.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $8.2B | $11.2B | $11.3B | $7.4B | $8.6B | $9.0B | — | — |
| Enterprise Value | $7.3B | $5.1B | $5.6B | $731M | $3.6B | $4.7B | — | — |
| P/E Ratio → | 12.73 | 2.55 | 3.68 | 3.50 | 20.00 | — | — | — |
| P/S Ratio | 4.58 | 0.92 | 1.01 | 0.88 | 1.28 | 1.93 | — | — |
| P/B Ratio | 1.35 | 0.27 | 0.30 | 0.21 | 0.26 | 0.29 | — | — |
| P/FCF | 12.36 | 2.50 | 3.91 | 3.42 | — | — | — | — |
| P/OCF | 12.02 | 2.43 | 3.81 | 3.27 | — | — | — | — |
P/E links to full P/E history page with 30-year chart
YMM EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Full Truck Alliance Co. Ltd.'s enterprise value stands at 12.4x EBITDA, 799% above its 5-year average of 1.4x. The Technology sector median is 16.6x, placing the stock at a 25% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.42 | 0.49 | 0.09 | 0.53 | 1.02 | — | — |
| EV / EBITDA | 12.43 | 1.29 | 2.18 | 0.68 | — | — | — | — |
| EV / EBIT | 12.43 | 1.29 | 2.25 | 0.31 | — | — | — | — |
| EV / FCF | — | 1.14 | 1.92 | 0.34 | — | — | — | — |
YMM Profitability
Margins and return-on-capital ratios measuring operating efficiency
Full Truck Alliance Co. Ltd. earns an operating margin of 32.8%. Operating margins have expanded from 11.8% to 32.8% over the past 3 years, signaling improving operational efficiency. ROE of 10.8% is modest. ROIC of 8.8% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 63.6% | 63.6% | 86.6% | 85.4% | 47.8% | 45.5% | 49.0% | 43.8% |
| Operating Margin | 32.8% | 32.8% | 22.0% | 11.8% | -2.4% | -81.5% | -140.1% | -41.3% |
| Net Profit Margin | 35.3% | 35.3% | 27.3% | 26.2% | 6.0% | -78.5% | -134.5% | -61.6% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 10.8% | 10.8% | 8.3% | 6.3% | 1.2% | -13.4% | -18.5% | -10.5% |
| ROA | 10.0% | 10.0% | 7.6% | 5.8% | 1.1% | -12.3% | -16.5% | -9.0% |
| ROIC | 8.8% | 8.8% | 6.0% | 2.6% | -0.4% | -14.1% | -22.5% | -6.9% |
| ROCE | 10.0% | 10.0% | 6.7% | 2.8% | -0.5% | -13.8% | -19.1% | -7.0% |
YMM Leverage & Debt
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 (100% below the sector average of 2.9x). The company holds a net cash position — cash of $6.1B exceeds total debt of $35M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | 0.03 |
| Debt / EBITDA | 0.01 | 0.01 | 0.03 | 0.08 | — | — | — | — |
| Net Debt / Equity | — | -0.15 | -0.15 | -0.19 | -0.15 | -0.14 | -0.44 | -0.24 |
| Net Debt / EBITDA | -1.53 | -1.53 | -2.25 | -6.24 | — | — | — | — |
| Debt / FCF | — | -1.36 | -1.98 | -3.08 | — | — | -19.28 | — |
| Interest Coverage | — | — | — | — | -928.49 | -91007.43 | -411.52 | -37.91 |
Net cash position: cash ($6.1B) exceeds total debt ($35M)
YMM Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Full Truck Alliance Co. Ltd.'s current ratio of 8.09x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 7.33x to 8.09x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 8.09 | 8.09 | 9.03 | 7.33 | 11.35 | 10.57 | 10.54 | 5.48 |
| Quick Ratio | 8.09 | 8.09 | 9.03 | 7.33 | 11.32 | 10.55 | 10.49 | 5.39 |
| Cash Ratio | 6.03 | 6.03 | 6.89 | 5.58 | 9.60 | 9.48 | 9.58 | 4.51 |
| Asset Turnover | — | 0.27 | 0.27 | 0.21 | 0.18 | 0.14 | 0.10 | 0.15 |
| Inventory Turnover | — | — | — | — | 41.96 | 38.59 | 12.26 | 7.19 |
| Days Sales Outstanding | — | 148.10 | 198.79 | 226.47 | 248.17 | 13.39 | 21.21 | 13.19 |
YMM Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full Truck Alliance Co. Ltd. returns 3.3% to shareholders annually — split between a 2.5% dividend yield and 0.7% buyback yield. The payout ratio of 33.2% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 7.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.5% | 12.7% | 9.4% | — | — | — | — | — |
| Payout Ratio | 33.2% | 33.2% | 34.7% | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.9% | 39.1% | 27.2% | 28.5% | 5.0% | — | — | — |
| FCF Yield | 8.1% | 40.1% | 25.6% | 29.2% | — | — | — | — |
| Buyback Yield | 0.7% | 3.6% | 5.1% | 18.5% | 16.1% | 28.7% | — | — |
| Total Shareholder Yield | 3.3% | 16.3% | 14.5% | 18.5% | 16.1% | 28.7% | — | — |
| Shares Outstanding | — | $1.0B | $1.0B | $1.1B | $1.1B | $1.1B | $1.1B | $1.1B |
Peer Comparison
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 | $8B | 12.7 | 12.4 | 12.4 | 63.6% | 32.8% | 10.8% | 8.8% | 0.0 |
 UBER | $148B | 15.1 | 24.3 | 15.2 | 39.8% | 10.7% | 39.8% | 13.6% | 2.1 |
 LYFT | $5B | 2.1 | — | 4.8 | 41.5% | -3.0% | 140.8% | -6.1% | — |
 GRAB | $14B | 54.8 | 32.9 | 103.5 | 43.2% | 6.0% | 4.1% | 3.3% | 5.4 |
 LASR | $4B | -135.8 | — | 299.1 | 29.8% | -10.2% | -10.6% | -12.2% | — |
 CHRW | $22B | 38.7 | 26.4 | 24.8 | 8.4% | 4.9% | 32.9% | 18.0% | 1.8 |
 FWRD | $434M | -3.9 | 13.2 | 28.4 | 20.5% | 1.5% | -48.2% | 1.2% | 11.4 |
 XPO | $24B | 76.2 | 22.4 | 71.8 | 12.0% | 8.9% | 18.3% | 9.3% | 3.8 |
 GLBE | $5B | 80.8 | 55.2 | 19.0 | 45.3% | 7.4% | 7.5% | 7.8% | 0.3 |
 UPS | $91B | 16.3 | 9.6 | 19.1 | 18.5% | 9.6% | 33.8% | 16.1% | 2.6 |
 FDX | $78B | 19.6 | 10.7 | 26.3 | 21.6% | 6.9% | 14.7% | 7.7% | 3.6 |
| Technology Median | — | 28.3 | 16.6 | 18.8 | 48.8% | 0.2% | 1.6% | 2.7% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 7 years · Updated daily
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YMM — Frequently Asked Questions
Quick answers to the most common questions about buying YMM stock.
What is Full Truck Alliance Co. Ltd.'s P/E ratio?
Full Truck Alliance Co. Ltd.'s current P/E ratio is 12.7x. The historical average is 7.4x. This places it at the 75th percentile of its historical range.
What is Full Truck Alliance Co. Ltd.'s EV/EBITDA?
Full Truck Alliance Co. Ltd.'s current EV/EBITDA is 12.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 1.4x.
What is Full Truck Alliance Co. Ltd.'s ROE?
Full Truck Alliance Co. Ltd.'s return on equity (ROE) is 10.8%. The historical average is -2.2%.
Is YMM stock overvalued?
Based on historical data, Full Truck Alliance Co. Ltd. is trading at a P/E of 12.7x. This is at the 75th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Full Truck Alliance Co. Ltd.'s dividend yield?
Full Truck Alliance Co. Ltd.'s current dividend yield is 2.55% with a payout ratio of 33.2%.
What are Full Truck Alliance Co. Ltd.'s profit margins?
Full Truck Alliance Co. Ltd. has 63.6% gross margin and 32.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Full Truck Alliance Co. Ltd. have?
Full Truck Alliance Co. Ltd.'s Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.