Full Truck Alliance Co. Ltd. (YMM) Revenue History
Annual and quarterly revenue from 2019 to 2024
Compound Annual Growth Rate (CAGR)
Loading revenue history...
YMM Revenue Growth
Revenue Breakdown (FY 2024)
YMM's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
YMM Revenue Analysis (2019–2024)
As of May 8, 2026, Full Truck Alliance Co. Ltd. (YMM) generated trailing twelve-month (TTM) revenue of $12.14 billion, reflecting strong growth of +17.2% year-over-year. The most recent quarter (Q2 2025) recorded $3.24 billion in revenue, up 20.0% sequentially.
Looking at the longer-term picture, YMM's 5-year compound annual growth rate (CAGR) stands at +35.4%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $11.24 billion in 2024, representing a new all-time high.
Revenue diversification analysis shows YMM's business is primarily driven by Value Added Tax Services (74%), Credit Solutions (19%), and Other Value Added Services (6%). With over half of revenue concentrated in Value Added Tax Services, the company maintains significant focus in this area while developing other growth vectors.
When compared to Technology sector peers including UBER (+18.3% YoY), LYFT (+9.4% YoY), and GRAB (+21.8% YoY), YMM has underperformed the peer group in terms of revenue growth. Compare YMM vs UBER →
YMM Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| YMMCurrent | $12.1B | +17.2% | +35.4% | 22.0% | |
 UBER | $52.0B | +18.3% | +36.1% | 10.7% | |
 LYFT | $6.3B | +9.4% | +21.7% | -3.0% | |
 GRAB | $3.4B | +21.8% | +48.4% | 6.0% | |
 LASR | $261M | +40.9% | +3.2% | -10.2% | |
 CHRW | $16.2B | -6.7% | +0.0% | 4.9% |
YMM Historical Revenue Data (2019–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $11.24B | +33.2% | $9.73B | 86.6% | $2.47B | 22.0% |
| 2023 | $8.44B | +25.3% | $7.20B | 85.4% | $997.4M | 11.8% |
| 2022 | $6.73B | +44.6% | $3.22B | 47.8% | $-162,002,000 | -2.4% |
| 2021 | $4.66B | +80.4% | $2.12B | 45.5% | $-3,795,943,000 | -81.5% |
| 2020 | $2.58B | +4.4% | $1.26B | 49.0% | $-3,614,603,000 | -140.1% |
| 2019 | $2.47B | - | $1.08B | 43.8% | $-1,020,602,000 | -41.3% |
Full YMM Stock Analysis
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
See YMM's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs YMM Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare YMM vs NVDA
Side-by-side business, growth, and profitability comparison vs NVIDIA Corporation.
Start ComparisonYMM — Frequently Asked Questions
Quick answers to the most common questions about buying YMM stock.
Is YMM's revenue growth accelerating or slowing?
YMM revenue is accelerating at +17.2% year-over-year, exceeding the 5-year CAGR of +35.4%. TTM revenue reached $12.1B. Growth momentum has increased versus prior periods.
What is YMM's long-term revenue growth rate?
Full Truck Alliance Co. Ltd.'s 5-year revenue CAGR of +35.4% reflects the sustained expansion pattern. Current YoY growth of +17.2% is above this long-term average.
How is YMM's revenue distributed by segment?
YMM reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2019-2024 are available for download. Segment mix reveals concentration and diversification trends.