Last 12 quarters of trend data · Technology · Software - Application
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Full Truck Alliance Co. Ltd.'s quarterly P/E stands at 0.1x, down 95.2% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has expanded 22.8% YoY to 1.8x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 12.73 | 0.12 | 2.66 | 5.10 | 0.11 | 2.54 | 3.03 | 3.13 | 2.93 | 2.59 | 4.76 | 10.00 | 4.43 |
| — | -95.2% | -12.2% | +63.1% | -96.2% | -1.8% | -36.3% | -68.7% | -33.7% | — | — | — | — | |
| P/S Ratio | 4.58 | 0.96 | 1.24 | 0.89 | 0.78 | 0.76 | 0.84 | 0.76 | 0.82 | 0.80 | 1.19 | 1.11 | 0.97 |
| — | +25.7% | +48.0% | +16.5% | -5.2% | -5.0% | -29.8% | -31.0% | -15.2% | — | — | — | — | |
| P/B Ratio | 1.35 | 0.31 | 0.35 | 0.30 | 0.26 | 0.23 | 0.22 | 0.21 | 0.21 | 0.19 | 0.24 | 0.25 | 0.21 |
| — | +33.5% | +60.1% | +44.6% | +22.9% | +24.7% | -9.8% | -18.6% | +0.8% | — | — | — | — | |
| P/FCF | 12.36 | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | 12.43 | 1.76 | 1.08 | 1.63 | 1.57 | 1.43 | 0.48 | 0.63 | 0.68 | -0.29 | 1.83 | — | 3.35 |
| — | +22.8% | +124.0% | +158.5% | +129.5% | +597.5% | -73.6% | — | -79.6% | — | — | — | — | |
| EV / EBIT | 12.43 | 1.76 | 1.08 | 1.67 | 1.60 | 1.48 | 0.51 | 0.71 | 0.27 | -0.31 | 2.07 | 4.13 | 1.13 |
| — | +18.8% | +111.3% | +133.4% | +487.2% | +582.1% | -75.3% | -82.7% | -75.8% | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Full Truck Alliance Co. Ltd.'s operating margin was 35.2% in Q2 2025, down 9.4 pp QoQ and up 14.7 pp YoY. The trailing four-quarter average of 32.8% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin contracted 55.6% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 63.6% | 61.8% | 74.1% | 94.1% | 55.0% | 139.1% | 54.5% | 52.1% | 49.6% | 52.7% | 50.1% | 50.5% | 47.3% |
| — | -55.6% | +36.0% | +80.5% | +10.9% | +163.9% | +8.8% | +3.3% | +4.7% | — | — | — | — | |
| Operating Margin | 32.8% | 35.2% | 44.5% | 26.3% | 25.1% | 20.5% | 13.8% | 10.4% | 10.9% | 16.2% | 9.7% | -11.1% | 7.8% |
| — | +72.0% | +223.7% | +152.7% | +130.3% | +26.3% | +41.3% | +193.8% | +39.3% | — | — | — | — | |
| Net Margin | 35.3% | 38.4% | 47.0% | 17.6% | 36.5% | 29.8% | 25.6% | 24.3% | 27.1% | 29.4% | 24.0% | 10.1% | 21.8% |
| — | +29.0% | +83.4% | -27.5% | +34.6% | +1.4% | +6.6% | +140.6% | +24.7% | — | — | — | — |
| Metric | TTM | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.8% | 3.2% | 3.3% | 1.5% | 3.0% | 2.3% | 1.6% | 1.6% | 1.7% | 1.7% | 1.2% | 0.6% | 1.2% |
| — | +37.3% | +101.9% | -8.7% | +75.4% | +32.1% | +35.4% | +185.0% | +48.9% | — | — | — | — | |
| ROA | 10.0% | 2.9% | 3.0% | 1.4% | 2.8% | 2.1% | 1.5% | 1.5% | 1.6% | 1.6% | 1.1% | 0.5% | 1.1% |
| — | +40.7% | +105.6% | -8.6% | +73.7% | +28.9% | +32.1% | +182.6% | +48.3% | — | — | — | — | |
| ROIC | 8.8% | 2.6% | 2.9% | 1.9% | 1.8% | 1.4% | 0.8% | 0.6% | 0.6% | 0.9% | 0.4% | -0.6% | 0.4% |
| — | +81.0% | +251.6% | +199.6% | +179.0% | +58.6% | +83.4% | +216.6% | +76.5% | — | — | — | — |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Full Truck Alliance Co. Ltd.'s Debt/EBITDA ratio is 0.0x — comfortably within a safe range. The current ratio has improved 28.1% YoY to 8.89x, strengthening the short-term liquidity position.
| Metric | TTM | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| — | -43.2% | -40.1% | -27.4% | +26.1% | +32.6% | +16.9% | -1.2% | -45.4% | — | — | — | — | |
| Debt / EBITDA | 0.01 | 0.05 | 0.05 | 0.08 | 0.10 | 0.14 | 0.26 | 0.31 | 0.21 | 0.17 | 0.38 | — | 0.63 |
| — | -67.9% | -81.9% | -75.7% | -55.1% | -17.5% | -31.1% | — | -66.1% | — | — | — | — | |
| Current Ratio | 8.09 | 8.89 | 7.66 | 9.03 | 7.64 | 6.94 | 5.86 | 7.33 | 8.21 | 10.40 | 12.14 | 11.35 | 11.43 |
| — | +28.1% | +30.9% | +23.2% | -6.9% | -33.2% | -51.8% | -35.4% | -28.2% | — | — | — | — | |
| Quick Ratio | 8.09 | 8.89 | 7.66 | 9.03 | 7.64 | 6.94 | 5.83 | 7.20 | 8.18 | 10.37 | 12.11 | 11.32 | 11.41 |
| — | +28.1% | +31.4% | +25.3% | -6.6% | -33.1% | -51.8% | -36.4% | -28.3% | — | — | — | — | |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — | — | 33616.93 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
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Full Truck Alliance Co. Ltd.'s current P/E is 12.7x. The average P/E over the last 4 quarters is 2.0x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Full Truck Alliance Co. Ltd.'s current operating margin is 32.8%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Full Truck Alliance Co. Ltd.'s business trajectory between earnings reports.