Full Truck Alliance
YMM
8.35
-0.09
-1.07%
Full Truck Alliance
US · YMM
#1621 by market cap
Listed 2021
8.35
-0.09
-1.07%
Live - 5344 symbols - heartbeat 351s ago
· 2026-10-08 06:36
Pre-market
8.39
+0.51%
After-hours
8.35
0.00%
- Market cap
- 8.66B
- P/E (TTM)i
- 14.20
- P/Bi
- 1.45
- EPSi
- 0.63
- Div yieldi
- 3.22%
- 52W posi
- 17%
Reader sentiment
Are you bullish or bearish on YMM?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Fair
- Altman Z-Score is 2.62, in the 1.8-3.0 "grey zone".
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 7 years
Latest year +11.13% YoY
Margins
- Gross margin
- 63.02%
- Operating margin
- 33.20%
- Net margin
- 35.29%
Key ratios & quality
- PEG ratioi
- 0.12
- Altman Z-Scorei
- 2.62
PEG uses trailing P/E against the 3-year net income growth rate (121.30%/yr) since forward earnings estimates aren't available here, so this is not a "forward PEG." Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 2.47B | 2.58B | 4.66B | 6.73B | 8.44B | 11.24B | 12.49B |
| Gross profit | 1.08B | 1.26B | 2.12B | 3.22B | 4.32B | 6.14B | 7.87B |
| Selling & admin expenses | 1.59B | 4.39B | 5.11B | 2.32B | 2.18B | 2.51B | 2.46B |
| Research & development | 396.69M | 413.37M | 729.67M | 914.15M | 946.64M | 880.02M | 874.44M |
| Operating profit | -1.02B | -3.61B | -3.80B | -162.00M | 997.43M | 2.47B | 4.15B |
| Pretax profit | -1.56B | -3.45B | -3.64B | 507.94M | 2.33B | 3.36B | 5.39B |
| Tax | -14.68M | 19.34M | 14.19M | 96.04M | 106.80M | 239.41M | 929.16M |
| Net profit | -1.52B | -3.47B | -3.65B | 411.90M | 2.23B | 3.12B | 4.46B |
| Basic EPS | -1 | -3 | -6 | 0 | 2 | 3 | 4 |
| Diluted EPS | -1.40 | -3.31 | -6.20 | 0.40 | 2.00 | 3.00 | 4.20 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 2.70B | 3.24B | 3.36B | 3.19B | 2.85B | 3.38B |
| Gross profit | 2.00B | 2.00B | 1.75B | 2.12B | 2.07B | 2.46B |
| Selling & admin expenses | 563.86M | 604.19M | 600.36M | 689.13M | 681.28M | 639.21M |
| Research & development | 193.36M | 189.62M | 233.25M | 258.21M | 255.33M | 260.89M |
| Operating profit | 1.20B | 1.14B | 776.27M | 1.03B | 1.01B | 1.49B |
| Pretax profit | 1.49B | 1.43B | 1.20B | 1.27B | 1.22B | 1.67B |
| Tax | 211.77M | 169.66M | 274.86M | 272.87M | 224.41M | 322.27M |
| Net profit | 1.28B | 1.26B | 921.02M | 994.29M | 994.10M | 1.35B |
| Basic EPS | 1 | 1 | 1 | 1 | 1 | 1 |
| Diluted EPS | 1.20 | 1.20 | 0.80 | 1.00 | 1.00 | 1.20 |
Balance sheet
| Line item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Total current assets | 12.50B | 20.68B | 28.90B | 31.00B | 24.00B | 27.26B | 23.05B |
| Cash & ST investments | 10.30B | 18.79B | 25.92B | 26.22B | 18.29B | 20.81B | 17.11B |
| Inventory | -- | -- | -- | -- | -- | -- | -- |
| Total assets | 16.96B | 25.13B | 34.40B | 36.70B | 39.35B | 41.29B | 44.32B |
| Total current liabilities | 2.28B | 1.96B | 2.73B | 2.73B | 3.27B | 3.02B | 2.85B |
| Short-term debt | 500.00M | -- | 9.00M | 44.59M | 37.76M | 41.20M | 33.85M |
| Long-term debt | -- | -- | -- | -- | -- | -- | -- |
| Total liabilities | 2,404,705,000.00 | 34,927,217,000.00 | 2,869,549,000.00 | 2,889,307,000.00 | 3,452,923,000.00 | 3,151,902,000.00 | 3,050,423,000.00 |
| Total equity | 14.55B | -9.79B | 31.53B | 33.81B | 35.89B | 38.14B | 41.27B |
| Retained earnings | -9.90B | -13.37B | -17.02B | -16.61B | -14.40B | -11.37B | -7.02B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 27.45B | 23.80B | 21.71B | 23.05B | 23.88B | 28.55B |
| Cash & ST investments | 20.16B | 16.74B | 15.48B | 17.11B | 18.46B | 23.55B |
| Inventory | -- | -- | -- | -- | -- | -- |
| Total assets | 42.42B | 42.60B | 44.10B | 44.32B | 44.81B | 45.59B |
| Total current liabilities | 3.58B | 2.68B | 3.47B | 2.85B | 3.45B | 3.59B |
| Short-term debt | 40.70M | 43.45M | 43.00M | 33.85M | 24.56M | 18.84M |
| Long-term debt | -- | -- | -- | -- | -- | -- |
| Total liabilities | 3,701,522,000.00 | 2,786,705,000.00 | 3,668,162,000.00 | 3,050,423,000.00 | 3,637,875,000.00 | 3,778,217,000.00 |
| Total equity | 38.72B | 39.81B | 40.43B | 41.27B | 41.17B | 41.81B |
| Retained earnings | -10.10B | -8.91B | -8.01B | -7.02B | -6.12B | -4.79B |
Cash flow
| Line item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -923.97M | 574.74M | -211.42M | -15.52M | 2.27B | 2.97B | 4.63B |
| Depreciation & amortization | 70.71M | 63.67M | 67.42M | 88.34M | 74.74M | 77.93M | 100.01M |
| Free cash flow | -934.38M | 521.68M | -254.64M | -101.21M | 2.17B | 2.90B | 4.50B |
| Dividends paid | -- | -- | -- | 0 | 0 | -1.06B | -1.43B |
| Stock buybacks / issuance | -384.88M | -557.84M | 8.47B | -1.39B | -1.37B | -575.28M | -406.94M |
| Ending cash balance | 4.08B | 10.16B | 4.36B | 5.22B | 6.90B | 5.95B | 6.17B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | 325.64M | 1.31B | -- | 1.33B | 1.56B | 2.15B |
| Depreciation & amortization | -- | -- | -- | -- | -- | -- |
| Free cash flow | 325.64M | 1.31B | -- | 1.33B | 1.56B | 2.15B |
| Dividends paid | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | -- | -- | -- | -- | -- | -- |
| Ending cash balance | 8.41B | 4.50B | -- | 6.17B | 6.95B | 7.08B |
Returns & efficiency
| Line item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| ROE %i | -- | -- | -36.33 | 1.25 | 6.39 | 8.38 | 11.35 |
| ROA %i | -8.98 | -17.06 | -14.02 | 1.14 | 5.82 | 7.61 | 10.30 |
| ROIC %i | -- | -- | -37.83 | 0.05 | 3.24 | 5.65 | 9.30 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- | -2.23 |
| EBIT margin %i | -61.31 | -133.42 | -78.17 | 7.55 | 27.67 | 29.92 | 33.20 |
| FCF / sales %i | -- | 20.21 | -- | -- | 25.71 | 25.76 | 36.01 |
| Current ratioi | 5.48 | 10.54 | 10.57 | 11.35 | 7.33 | 9.03 | 8.09 |
| Quick ratioi | 5.38 | 10.46 | 10.46 | 11.28 | 7.18 | 8.92 | 7.99 |
| Debt / assetsi | 2.95 | -- | 0.03 | 0.22 | 0.21 | 0.16 | 0.08 |
| LT debt / equityi | -- | -- | -- | 0.11 | 0.13 | 0.06 | 0.00 |
| Interest coveragei | -37.91 | -411.52 | -91,007.43 | 2,903.49 | -- | -- | -- |
| Revenue CAGR (3Y) %i | -- | -- | -- | 39.64 | 48.41 | 34.13 | 22.87 |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- | 121.30 |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | 60.81 | -- | -- |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | 10.28 | 11.16 | 10.52 | 11.35 | 10.57 | 10.59 |
| ROA %i | 9.17 | 10.17 | 9.39 | 10.30 | 9.47 | 9.56 |
| ROIC %i | 7.77 | 8.88 | 8.53 | 9.30 | 8.63 | 8.80 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 36.45 | 39.75 | 38.82 | 33.20 | 31.25 | 33.61 |
| FCF / sales %i | -- | -- | -- | 36.01 | 45.37 | 51.41 |
| Current ratioi | 7.66 | 8.89 | 6.26 | 8.09 | 6.93 | 7.96 |
| Quick ratioi | 6.89 | 8.08 | 5.92 | 7.99 | 6.63 | 7.60 |
| Debt / assetsi | 0.13 | 0.12 | 0.10 | 0.08 | 0.06 | 0.05 |
| LT debt / equityi | 0.04 | 0.02 | 0.01 | 0.00 | 0.00 | 0.01 |
| Interest coveragei | -- | -- | -- | -- | -- | -- |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
✦ Quant Revenue Concentration how this is computed
Diversified
- Transaction service is the largest reported line at 42.57% of revenue, across 5 reported segments.
- No single line clears half of revenue; Freight brokerage service is next at 33.62%, spreading the business across more than one real driver.
Revenue breakdown most recent period
Business
Transaction service42.57%
Freight brokerage service33.62%
Credit solutions11.80%
Freight listing service7.85%
Value-added services4.15%
Region
People’s Republic of China (PRC)100.00%
Quote time 2026-10-08 06:36:41 · For reference only, not investment advice and not tailored to your situation.