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Full Truck Alliance Co. Ltd. logo

Full Truck Alliance Co. Ltd.

YMM

NYSETechnologySoftware - Application

Open in GoAI

Regular session

$8.495

−$0.275 · -3.14%

Aug 24, 12:49 PM ET

YMM company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

84

Deep Value

Momentum

36

Weakening

Sentiment

70

Bullish

Risk resilience

56

Elevated Risk

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Thesis, catalysts, evidence, and risk analysis.

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Company profile

Company website

Full Truck Alliance Co. Ltd., along with its subsidiaries, operates a prominent digital logistics platform across the People's Republic of China. This platform's core purpose is to seamlessly connect cargo owners (shippers) with truck drivers, streamlining the transportation of goods regardless of distance, weight, or type. The company offers essential services like freight posting, carrier matching, and brokerage assistance, complemented by secure online payment processing. Furthermore, it provides an array of supplementary offerings designed to benefit its users, including financing solutions, insurance services, electronic toll management, and energy-related services. Full Truck Alliance also dedicates resources to technology development and various other support functions. The enterprise was established in 2011 and is headquartered in Guiyang, China.

Industry
Software - Application
Sector
Technology
Headquarters
CN
CEO
Hui Zhang
Listed since
Jun 23, 2021
Employees
8,251

Market position

Day range

Current $8.495

52-week range

Current $8.495

Open
$8.76
Previous close
$8.77
Volume
2.82M
0.35× average
Average volume
8.15M
Average daily volume
Market cap
8.88B USD
Beta
0.31
Market reference 1
50-day average
$8.785
-3.30% below average
200-day average
$9.5106
-10.68% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
72.07B CNY
P/E (TTM)
14.38×
P/B (TTM)
1.46×
P/S (TTM)
4.67×
EV / EBITDA
16.97×
Earnings yield
5.64%
Free cash flow yield
5.75%
Dividend yield
3.11%

Profitability & efficiency

Gross margin
65.86%
Operating margin
33.59%
Net margin
32.98%
Return on equity
11.00%
Return on assets
9.94%
Return on invested capital
8.26%

Financial health

Debt / equity
0×
Current ratio
8.09×
Altman Z-score
10.9
Piotroski F-score
5 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends103%36%-31%-98%Gross margin, FY2021: 45.46%Gross margin, FY2022: 47.81%Gross margin, FY2023: 85.39%Gross margin, FY2024: 86.62%Gross margin, FY2025: 63.02%Operating margin, FY2021: -81.51%Operating margin, FY2022: -2.41%Operating margin, FY2023: 11.82%Operating margin, FY2024: 22.02%Operating margin, FY2025: 33.20%Net margin, FY2021: -78.47%Net margin, FY2022: 6.04%Net margin, FY2023: 26.23%Net margin, FY2024: 27.32%Net margin, FY2025: 35.29%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 45.46%. Gross margin FY2022 47.81%. Gross margin FY2023 85.39%. Gross margin FY2024 86.62%. Gross margin FY2025 63.02%. Operating margin FY2021 -81.51%. Operating margin FY2022 -2.41%. Operating margin FY2023 11.82%. Operating margin FY2024 22.02%. Operating margin FY2025 33.20%. Net margin FY2021 -78.47%. Net margin FY2022 6.04%. Net margin FY2023 26.23%. Net margin FY2024 27.32%. Net margin FY2025 35.29%.

Income trends

Revenue

12.49B CNY+11.13%

Operating income

4.15B CNY+67.52%

Net income

4.41B CNY+43.60%
Income trends across reported periods14.12B CNY7.6B CNY1.09B CNY−5.42B CNYRevenue, FY2021: 4.66B CNYRevenue, FY2022: 6.73B CNYRevenue, FY2023: 8.44B CNYRevenue, FY2024: 11.24B CNYRevenue, FY2025: 12.49B CNYOperating income, FY2021: −3.8B CNYOperating income, FY2022: −162M CNYOperating income, FY2023: 997.43M CNYOperating income, FY2024: 2.47B CNYOperating income, FY2025: 4.15B CNYNet income, FY2021: −3.65B CNYNet income, FY2022: 406.76M CNYNet income, FY2023: 2.21B CNYNet income, FY2024: 3.07B CNYNet income, FY2025: 4.41B CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 4.66B CNY. Revenue FY2022 6.73B CNY. Revenue FY2023 8.44B CNY. Revenue FY2024 11.24B CNY. Revenue FY2025 12.49B CNY. Operating income FY2021 −3.8B CNY. Operating income FY2022 −162M CNY. Operating income FY2023 997.43M CNY. Operating income FY2024 2.47B CNY. Operating income FY2025 4.15B CNY. Net income FY2021 −3.65B CNY. Net income FY2022 406.76M CNY. Net income FY2023 2.21B CNY. Net income FY2024 3.07B CNY. Net income FY2025 4.41B CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue12.49B CNY11.24B CNY8.44B CNY6.73B CNY4.66B CNY
Cost of goods sold4.62B CNY1.5B CNY1.23B CNY3.51B CNY2.54B CNY
Gross profit7.87B CNY9.73B CNY7.2B CNY3.22B CNY2.12B CNY
Research and development874.44M CNY880.02M CNY946.64M CNY914.15M CNY729.67M CNY
Selling, general, and administrative2.46B CNY2.51B CNY2.18B CNY2.32B CNY5.11B CNY
Operating expenses3.72B CNY7.26B CNY6.21B CNY3.38B CNY5.91B CNY
Interest income954.08M CNY1.07B CNY1.14B CNY483.66M CNY234.65M CNY
Interest expense———175K CNY40K CNY
Depreciation and amortization100.01M CNY77.93M CNY74.74M CNY88.34M CNY67.42M CNY
Operating income4.15B CNY2.47B CNY997.43M CNY−162M CNY−3.8B CNY
Net income4.41B CNY3.07B CNY2.21B CNY406.76M CNY−3.65B CNY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
64%
7 beats, 2 misses, 2 met estimates
Average EPS surprise
+8.13%
11 comparable reports
Latest EPS result
0.2
Estimate 0.19 · Beat by 5.26%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.240.180.120.06Q1 '25MissQ2 '25BeatQ3 '25BeatQ4 '25MissQ1 '26MetQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Mar 5, 2025: actual 0.074, estimate 0.14, surprise -47.17%, Miss. Q2 2025, reported May 21, 2025: actual 0.18, estimate 0.17, surprise +5.88%, Beat. Q3 2025, reported Aug 21, 2025: actual 0.18, estimate 0.16, surprise +12.50%, Beat. Q4 2025, reported Nov 17, 2025: actual 0.13, estimate 0.14, surprise -7.14%, Miss. Q1 2026, reported Mar 12, 2026: actual 0.14, estimate 0.14, surprise 0.00%, Met estimate. Q2 2026, reported May 21, 2026: actual 0.17, estimate 0.13, surprise +30.77%, Beat. Q3 2026, reported Aug 19, 2026: actual 0.2, estimate 0.19, surprise +5.26%, Beat. Q4 2026, reported Nov 16, 2026: actual —, estimate 0.19, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates517.61M442.61M367.62M292.63MQ1 '25BeatQ2 '25MissQ3 '25BeatQ4 '25MissQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Mar 5, 2025: actual 434.75M USD, estimate 410.15M USD, surprise +6.00%, Beat. Q2 2025, reported May 21, 2025: actual 312.54M USD, estimate 365.89M USD, surprise -14.58%, Miss. Q3 2025, reported Aug 21, 2025: actual 452.02M USD, estimate 430.89M USD, surprise +4.90%, Beat. Q4 2025, reported Nov 17, 2025: actual 425.7M USD, estimate 437.93M USD, surprise -2.79%, Miss. Q1 2026, reported Mar 12, 2026: actual 480.09M USD, estimate 446.87M USD, surprise +7.43%, Beat. Q2 2026, reported May 21, 2026: actual 412.82M USD, estimate 388.67M USD, surprise +6.21%, Beat. Q3 2026, reported Aug 19, 2026: actual 497.7M USD, estimate 463.13M USD, surprise +7.46%, Beat. Q4 2026, reported Nov 16, 2026: actual —, estimate 491.62M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$11.45

34.79% upside
Past 12 months12-month forecastHigh $13.36Average $11.45Low $10.00

Rating distribution

3 ratings

Limited analyst sample: 3 ratings. Interpret the distribution with caution.

Strong buy00%
Buy267%
Hold133%
Sell00%
Strong sell00%

Recent analyst actions

3 institutions

YMM news

seekingalpha.com

Full Truck Alliance: High-Quality Monetization At An Inflection Point, Reiterate Buy

Full Truck Alliance delivered Q2 2026 results and Q3 guidance well ahead of consensus, reinforcing its market leadership in China's freight gig economy. Transaction services revenue surged 33% y/y, with commission…

Read source
seekingalpha.com

Full Truck Alliance Co. Ltd. (YMM) Q2 2026 Earnings Call Transcript

Full Truck Alliance Co. Ltd. (YMM) Q2 2026 Earnings Call Transcript

Read source
zacks.com

Full Truck Alliance Co. Ltd. Sponsored ADR (YMM) Q2 Earnings and Revenues Top Estimates

Full Truck Alliance Co. Ltd. Sponsored ADR (YMM) came out with quarterly earnings of $0.2 per share, beating the Zacks Consensus Estimate of $0.19 per share.

Read source
marketbeat.com

Full Truck Alliance Q2 Earnings Call Highlights

Full Truck Alliance NYSE: YMM reported second-quarter 2026 revenue growth of 4.4% as transaction services expanded and platform fulfillment metrics reached record levels, despite what management described as a…

Read source
gurufocus.com

Full Truck Alliance Co. Ltd. Announces Second Quarter 2026 Unaudited Financial Results

Full Truck Alliance Co. Ltd. Announces Second Quarter 2026 Unaudited Financial Results PR Newswire GUIYANG, China,

Read source
prnewswire.com

Full Truck Alliance Co. Ltd. Announces Second Quarter 2026 Unaudited Financial Results

GUIYANG, China, Aug. 19, 2026 /PRNewswire/ -- Full Truck Alliance Co. Ltd. ("FTA" or the "Company") (NYSE: YMM), a leading digital freight platform, today announced its unaudited financial results for the second quarter…

Read source

Corporate actions

Corporate action history

DividendUpcoming

Ex-dividend Oct 14, 2026

$0.084

Quarterly

Record Oct 14, 2026 · Payment Oct 28, 2026

Dividend

Ex-dividend Jul 7, 2026

$0.084

Quarterly

Record Jul 7, 2026 · Payment Jul 21, 2026

Dividend

Ex-dividend Apr 8, 2026

$0.084

Semi-Annual

Record Apr 8, 2026 · Payment Apr 22, 2026

Dividend

Ex-dividend Oct 10, 2025

$0.096

Semi-Annual

Record Oct 10, 2025 · Payment Oct 27, 2025

Dividend

Ex-dividend Apr 7, 2025

$0.096

Annual

Record Apr 7, 2025 · Payment Apr 17, 2025

Dividend

Ex-dividend Apr 4, 2024

$0.1444

Annual

Record Apr 5, 2024 · Payment Apr 19, 2024

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ETFs holding YMM

Funds reporting this stock among their holdings, ordered by reported position size.

KraneShares CSI China Internet ETF logoKraneShares CSI China Internet ETFKWEB
Market value
215.64M
Weight
4.07%
AUM
5.3B USD
Expense ratio
0.69%
Price / 1D
$26.225-1.63%
Vanguard Total International Stock ETF logoVanguard Total International Stock ETFVXUS
Market value
100.55M
Weight
0.02%
AUM
646.2B USD
Expense ratio
0.05%
Price / 1D
$87.175-0.61%
Vanguard FTSE Emerging Markets ETF logoVanguard FTSE Emerging Markets ETFVWO
Market value
95.04M
Weight
0.06%
AUM
162.3B USD
Expense ratio
0.06%
Price / 1D
$59.945-0.84%
iShares Core MSCI Emerging Markets ETF logoiShares Core MSCI Emerging Markets ETFIEMG
Market value
78.28M
Weight
0.05%
AUM
160B USD
Expense ratio
0.09%
Price / 1D
$80.515-1.29%
Vanguard FTSE All-World ex-US ETF logoVanguard FTSE All-World ex-US ETFVEU
Market value
16.57M
Weight
0.02%
AUM
95.9B USD
Expense ratio
0.04%
Price / 1D
$85.155-0.62%
iShares MSCI China ETF logoiShares MSCI China ETFMCHI
Market value
15.61M
Weight
0.25%
AUM
6.29B USD
Expense ratio
0.59%
Price / 1D
$54.915-1.34%
iShares MSCI Emerging Markets ETF logoiShares MSCI Emerging Markets ETFEEM
Market value
15.58M
Weight
0.05%
AUM
31.22B USD
Expense ratio
0.72%
Price / 1D
$66.11-1.50%
Avantis Emerging Markets Equity ETF logoAvantis Emerging Markets Equity ETFAVEM
Market value
13.34M
Weight
0.05%
AUM
27.89B USD
Expense ratio
0.33%
Price / 1D
$93.09-1.22%

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