Full Truck Alliance (YMM)
Market Price (9/4/2025): $13.1 | Market Cap: $13.6 BilSector: Information Technology | Industry: Application Software
Full Truck Alliance (YMM)
Market Price (9/4/2025): $13.1Market Cap: $13.6 BilSector: Information TechnologyIndustry: Application Software
Investment Highlights
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 30%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 26% | Trading close to highsDist 52W High is -2.7%, Dist 3Y High is -2.7% | |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -121% | ||
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 25% | ||
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 32% |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 30%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 26% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -121% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 25% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 32% |
| Trading close to highsDist 52W High is -2.7%, Dist 3Y High is -2.7% |
Market Valuation
| 9/4/25 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Share Price CYE | $13.10 | $10.73 | $6.82 | $7.78 | $8.14 |
| Market Cap CYE ($ Bil) | 13.6 | 11.2 | 7.1 | 8.3 | 8.8 |
| Total Debt ($ Bil) | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 |
| Total Cash ($ Bil) | 16.7 | 20.8 | 18.3 | 26.2 | 25.9 |
| Enterprise Value ($ Bil) | -3.0 | 11.3 | 7.2 | 8.4 | 8.8 |
| Valuation Ratios | |||||
| P/S TTM | 1.1 | 1.0 | 0.9 | 1.3 | 1.2 |
| P/EBIT TTM | 2.8 | 3.4 | 3.2 | 16.9 | -1.6 |
| P/E TTM | 3.3 | 3.7 | 3.3 | 21.2 | -1.5 |
| Sector Ratios | |||||
| P/S TTM (Sector) | 4.2 | 4.5 | 4.5 | 3.4 | 6.3 |
| P/EBIT TTM (Sector) | 17.8 | 15.7 | 13.0 | 8.5 | 12.9 |
| P/E TTM (Sector) | 19.6 | 18.0 | 16.4 | 9.8 | 15.1 |
| 9/4/25 | 2024 | 2023 | |
|---|---|---|---|
| Share Price CYE | $13.10 | $10.73 | $6.82 |
| Market Cap CYE ($ Bil) | 13.6 | 11.2 | 7.1 |
| Total Debt ($ Bil) | 0.1 | 0.1 | 0.1 |
| Total Cash ($ Bil) | 16.7 | 20.8 | 18.3 |
| Enterprise Value ($ Bil) | -3.0 | 11.3 | 7.2 |
| Valuation Ratios | |||
| P/S TTM | 1.1 | 1.0 | 0.9 |
| P/EBIT TTM | 2.8 | 3.4 | 3.2 |
| P/E TTM | 3.3 | 3.7 | 3.3 |
| Sector Ratios | |||
| P/S TTM (Sector) | 4.2 | 4.5 | 4.5 |
| P/EBIT TTM (Sector) | 17.8 | 15.7 | 13.0 |
| P/E TTM (Sector) | 19.6 | 18.0 | 16.4 |
Business Description
Full Truck Alliance Co. Ltd., together with its subsidiaries, operates a digital freight platform that connects shippers with truckers to facilitate shipments across distance ranges, cargo weights, and types in the People's Republic of China. The company offers freight listing, matching, and brokerage services; and online transaction services, as well as various value-added services, such as credit solutions, insurance brokerage, electronic toll collection, and energy services.
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Price Returns Compared
Expand for Detailed View| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| YMM Return | - | - | -4% | -12% | 57% | 6% | 35% |
| Peers Return | -2% | -17% | -44% | 2036% | 97% | 12% | 2057% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 10% | 100% |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: ADSK, WRCDF, ORCL, PLTR, SAP.
[3] 2025 data is for the year up to 9/3/2025 (YTD)
Research & Analysis
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Peer Comparisons for Full Truck Alliance
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 223.45 |
| Mkt Cap | 315.9 |
| Rev LTM | 9,375 |
| Op Inc LTM | 2,727 |
| FCF LTM | 1,709 |
| FCF 3Y Avg | 1,704 |
| CFO LTM | 1,925 |
| CFO 3Y Avg | 1,775 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 19.5% |
| Rev Chg 3Y Avg | 18.7% |
| Rev Chg Q | 17.2% |
| QoQ Delta Rev Chg LTM | 4.1% |
| Op Mgn LTM | 24.8% |
| Op Mgn 3Y Avg | 21.8% |
| QoQ Delta Op Mgn LTM | 1.0% |
| CFO/Rev LTM | 36.3% |
| CFO/Rev 3Y Avg | 31.6% |
| FCF/Rev LTM | 28.0% |
| FCF/Rev 3Y Avg | 25.7% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 315.9 |
| P/S | 10.2 |
| P/EBIT | 35.4 |
| P/E | 50.4 |
| P/CFO | 39.5 |
| Total Yield | 2.1% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 2.3% |
| D/E | 0.0 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -3.6% |
| 3M Rtn | 10.1% |
| 6M Rtn | 18.8% |
| 12M Rtn | 61.9% |
| 3Y Rtn | 211.6% |
| 1M Excs Rtn | -5.5% |
| 3M Excs Rtn | 4.2% |
| 6M Excs Rtn | 7.1% |
| 12M Excs Rtn | 46.6% |
| 3Y Excs Rtn | 152.8% |
SEC Filings
Expand for More| Report Date | Filing |
|---|---|
| 6302025 | 6-K 6/30/2025 |
| 3312025 | 6-K 3/31/2025 |
| 12312024 | 20-F 12/31/2024 |
| 9302024 | 6-K 9/30/2024 |
| 6302024 | 6-K 6/30/2024 |
| 3312024 | 6-K 3/31/2024 |
| 12312023 | 20-F 12/31/2023 |
| 9302023 | 6-K 9/30/2023 |
| 6302023 | 6-K 6/30/2023 |
| 3312023 | 6-K 3/31/2023 |
| 12312022 | 20-F 12/31/2022 |
| 9302022 | 6-K 9/30/2022 |
| 6302022 | 6-K 6/30/2022 |
| 3312022 | 6-K 3/31/2022 |
| 12312021 | 20-F 12/31/2021 |
| 9302021 | 6-K 9/30/2021 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |