Full Truck Alliance Co. Ltd.
YMM NYSE· Services-Prepackaged Software
Last close · Nov 13, 2026
$8.69
Latest fiscal year · FY25 results fiscal year ended Dec 31, 2025 · vs FY24
| Line | FY24 | FY25 | Change (y/y) |
|---|---|---|---|
| Revenue | $1.6B | $1.7B | 11.3% |
| Net income | $434M | $620M | 42.9% |
| Diluted EPS | $0.42 | $0.58 | 40.4% |
| Operating margin | 22.0% | 33.2% | 11.2 pts |
| Free cash flow | $402M | $626M | 55.5% |
Key numbers, fiscal 2025
Market cap
$9.1B
P/E
14.9x
Revenue
$1.7B
Net income
$620M
Free cash flow
$626M
Operating margin
33.2%
Full Truck Alliance Co. Ltd. in 30 seconds fiscal 2025
Are sales growing?
+11.3%
Yes. Sales grew 11.3% last year.
Does it make a profit?
35.7%
Yes. It keeps 35.7% of every sale as profit.
Does profit turn into cash?
36.0%
Yes. 36.0% of sales ends up as free cash.
How healthy are the accounts?
5 / 8
Mixed. It passes 5 of 8 health tests.
How is the share priced?
14.9x
One share costs 14.9 times its yearly profit per share.
What Full Truck Alliance Co. Ltd. does
Full Truck Alliance runs a digital freight platform in China that connects shippers with truckers through the Yunmanman, Huochebang, Shengsheng and Yunmanman Cold Chain apps. Shippers post orders for long-haul, less-than-truckload, city and cold-chain shipments, and truckers find and accept work through the platform. Full Truck Alliance also offers freight brokerage, which handles shipping contracts and payments between shippers and truckers, and online transaction services that help them complete shipments. In 2025, the platform facilitated 236.3 million fulfilled orders. Full Truck Alliance earns money from shipper membership fees for posting freight listings, brokerage fees charged to shippers, transaction fees charged to truckers, and interest and fees from services such as credit, insurance, transport management software, toll collection and energy services. It also sells advanced driver-assistance system kits and earns service fees from services using those systems.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · Apr 14, 2026
- Legal name
- Full Truck Alliance Co. Ltd.
- CIK
- 0001838413
Full Truck Alliance Co. Ltd. · YMM · stoqly.net
Results and finances
The last 5 fiscal years. Amounts in USD. Compiled by stoqly.net.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $722M | $1.0B | $1.2B | $1.6B | $1.7B |
| Revenue growth | 93.1% | 38.5% | 19.1% | 31.1% | 11.3% |
| Gross margin | 45.5% | 47.8% | 51.2% | 54.6% | 63.0% |
| Operating margin | −81.5% | −2.4% | 11.8% | 22.0% | 33.2% |
| Net income | −$567M | $61.2M | $314M | $434M | $620M |
| Net margin | −78.5% | 6.1% | 26.4% | 27.8% | 35.7% |
| Diluted EPS | −$0.96 | $0.06 | $0.28 | $0.42 | $0.58 |
| Cash | |||||
| Cash from operations | −$32.8M | −$2.3M | $320M | $413M | $644M |
| Capital expenditure | $6.7M | $12.7M | $14.2M | $10.4M | $18.0M |
| Free cash flow | −$39.5M | −$15.0M | $306M | $402M | $626M |
| FCF margin | −5.5% | −1.5% | 25.7% | 25.8% | 36.0% |
| Dividends paid | — | $0.0M | $0.0M | $148M | $198M |
| Share buybacks | $0.0M | $0.0M | $25.4M | $0.0M | $4.9M |
| Share count change | 292.7% | 60.5% | −1.9% | −1.2% | 0.1% |
| Debt and strength | |||||
| Cash and short-term investments | $4.1B | $3.8B | $2.6B | $2.9B | $2.4B |
| Debt incl. finance leases | $1.4M | — | — | — | — |
| Shareholders' equity | $5.0B | $4.9B | $5.0B | $5.2B | $5.8B |
| Current ratio | 10.6x | 11.3x | 7.3x | 9.0x | 8.1x |
| Interest coverage | −94,926.8x | −925.4x | — | — | — |
| Returns and quality | |||||
| Return on capital | −52.6% | — | — | — | — |
| Return on equity | −30.9% | 1.2% | 6.4% | 8.5% | 11.3% |
| Return on tangible equity | −14.8% | 1.4% | 6.9% | 9.1% | 12.0% |
| Piotroski F-score | 4 | 5 | 7 | 7 | 5 |
| Altman Z'' | 14.2 | 15.8 | 13.3 | 15.9 | 17.0 |
Insider trades 12 months
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Full Truck Alliance Co. Ltd. · YMM · stoqly.net
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Compiled and analysed by stoqly.net from SEC EDGAR XBRL filings (CIK 0001838413). Latest version: stoqly.net/companies/ymm. Data updated November 9, 2026. Filed in CNY under US GAAP and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. For information only — not investment advice. Check the original filings before relying on any figure.