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FULL TRUCK ALLIANCE -SPN ADR (YMM) Stock Fundamental Analysis

NYSE:YMM - New York Stock Exchange, Inc. - US35969L1089 - ADR - Currency: USD

12.28  -0.26 (-2.07%)

After market: 12.3 +0.02 (+0.16%)

Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to YMM. YMM was compared to 40 industry peers in the Ground Transportation industry. YMM has an excellent financial health rating, but there are some minor concerns on its profitability. YMM shows excellent growth, but is valued quite expensive already.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

YMM had positive earnings in the past year.
The reported net income has been mixed in the past 5 years: YMM reported negative net income in multiple years.
In multiple years YMM reported negative operating cash flow during the last 5 years.
YMM Yearly Net Income VS EBIT VS OCF VS FCFYMM Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2019 2020 2021 2022 2023 2024 0 2B -2B -4B

1.2 Ratios

YMM's Return On Assets of 8.86% is fine compared to the rest of the industry. YMM outperforms 80.00% of its industry peers.
YMM has a Return On Equity of 9.82%. This is comparable to the rest of the industry: YMM outperforms 57.50% of its industry peers.
The Return On Invested Capital of YMM (6.85%) is comparable to the rest of the industry.
Industry RankSector Rank
ROA 8.86%
ROE 9.82%
ROIC 6.85%
ROA(3y)4.72%
ROA(5y)-2.45%
ROE(3y)5.19%
ROE(5y)-2.65%
ROIC(3y)N/A
ROIC(5y)N/A
YMM Yearly ROA, ROE, ROICYMM Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2019 2020 2021 2022 2023 2024 0 5 -5 -10 -15

1.3 Margins

The Profit Margin of YMM (32.20%) is better than 100.00% of its industry peers.
The Operating Margin of YMM (28.84%) is better than 87.50% of its industry peers.
YMM has a Gross Margin of 59.15%. This is in the better half of the industry: YMM outperforms 67.50% of its industry peers.
YMM's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 28.84%
PM (TTM) 32.2%
GM 59.15%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y6.31%
GM growth 5Y4.51%
YMM Yearly Profit, Operating, Gross MarginsYMM Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2019 2020 2021 2022 2023 2024 0 50 -50 -100

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9

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so YMM is destroying value.
The number of shares outstanding for YMM remains at a similar level compared to 1 year ago.
The number of shares outstanding for YMM has been reduced compared to 5 years ago.
There is no outstanding debt for YMM. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
YMM Yearly Shares OutstandingYMM Yearly Shares OutstandingYearly Shares Outstanding 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B
YMM Yearly Total Debt VS Total AssetsYMM Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B

2.2 Solvency

YMM has an Altman-Z score of 14.43. This indicates that YMM is financially healthy and has little risk of bankruptcy at the moment.
With an excellent Altman-Z score value of 14.43, YMM belongs to the best of the industry, outperforming 97.50% of the companies in the same industry.
YMM has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Altman-Z 14.43
ROIC/WACC0.85
WACC8.05%
YMM Yearly LT Debt VS Equity VS FCFYMM Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2019 2020 2021 2022 2023 2024 0 10B 20B 30B

2.3 Liquidity

YMM has a Current Ratio of 7.66. This indicates that YMM is financially healthy and has no problem in meeting its short term obligations.
YMM's Current ratio of 7.66 is amongst the best of the industry. YMM outperforms 100.00% of its industry peers.
A Quick Ratio of 7.66 indicates that YMM has no problem at all paying its short term obligations.
With an excellent Quick ratio value of 7.66, YMM belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 7.66
Quick Ratio 7.66
YMM Yearly Current Assets VS Current LiabilitesYMM Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2019 2020 2021 2022 2023 2024 10B 20B 30B

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8

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 55.00% over the past year.
Looking at the last year, YMM shows a very strong growth in Revenue. The Revenue has grown by 33.22%.
YMM shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 35.36% yearly.
EPS 1Y (TTM)55%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%80%
Revenue 1Y (TTM)33.22%
Revenue growth 3Y34.13%
Revenue growth 5Y35.36%
Sales Q2Q%18.41%

3.2 Future

Based on estimates for the next years, YMM will show a very strong growth in Earnings Per Share. The EPS will grow by 25.34% on average per year.
Based on estimates for the next years, YMM will show a very strong growth in Revenue. The Revenue will grow by 74.10% on average per year.
EPS Next Y29.41%
EPS Next 2Y26%
EPS Next 3Y25.34%
EPS Next 5YN/A
Revenue Next Year14.34%
Revenue Next 2Y14.07%
Revenue Next 3Y14.45%
Revenue Next 5Y74.1%

3.3 Evolution

The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
YMM Yearly Revenue VS EstimatesYMM Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5B 10B 15B 20B 25B
YMM Yearly EPS VS EstimatesYMM Yearly EPS VS EstimatesYearly EPS VS Estimates 2021 2022 2023 2024 2025 2026 2027 0 0.2 0.4 0.6 0.8 1

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1

4. Valuation

4.1 Price/Earnings Ratio

YMM is valuated quite expensively with a Price/Earnings ratio of 136.44.
YMM's Price/Earnings ratio is a bit more expensive when compared to the industry. YMM is more expensive than 67.50% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 27.48. YMM is valued rather expensively when compared to this.
The Price/Forward Earnings ratio is 102.86, which means the current valuation is very expensive for YMM.
Based on the Price/Forward Earnings ratio, YMM is valued a bit more expensive than the industry average as 70.00% of the companies are valued more cheaply.
The average S&P500 Price/Forward Earnings ratio is at 36.52. YMM is valued rather expensively when compared to this.
Industry RankSector Rank
PE 136.44
Fwd PE 102.86
YMM Price Earnings VS Forward Price EarningsYMM Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80 100

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of YMM indicates a slightly more expensive valuation: YMM is more expensive than 62.50% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 18.03
YMM Per share dataYMM EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 1 2 3 4 5

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
YMM's earnings are expected to grow with 25.34% in the coming years. This may justify a more expensive valuation.
PEG (NY)4.64
PEG (5Y)N/A
EPS Next 2Y26%
EPS Next 3Y25.34%

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1

5. Dividend

5.1 Amount

YMM has a yearly dividend return of 0.65%, which is pretty low.
Compared to an average industry Dividend Yield of 1.47, YMM has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.34, YMM's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.65%

5.2 History

YMM does not have a reliable dividend history as it only pays dividend since a couple or years.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
YMM Yearly Dividends per shareYMM Yearly Dividends per shareYearly Dividends per share 2024 2025 0.05 0.1

5.3 Sustainability

DPN/A
EPS Next 2Y26%
EPS Next 3Y25.34%
YMM Yearly Income VS Free CF VS DividendYMM Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2019 2020 2021 2022 2023 2024 0 2B -2B -4B

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FULL TRUCK ALLIANCE -SPN ADR

NYSE:YMM (7/17/2025, 8:04:00 PM)

After market: 12.3 +0.02 (+0.16%)

12.28

-0.26 (-2.07%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryGround Transportation
Earnings (Last)05-21 2025-05-21/bmo
Earnings (Next)08-19 2025-08-19/bmo
Inst Owners74.08%
Inst Owner Change0.05%
Ins Owners0.52%
Ins Owner ChangeN/A
Market Cap12.84B
Analysts82.22
Price Target15.55 (26.63%)
Short Float %43.68%
Short Ratio3.23
Dividend
Industry RankSector Rank
Dividend Yield 0.65%
Yearly Dividend0.14
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-Date04-07 2025-04-07 (0.096)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)3.05%
Min EPS beat(2)2.04%
Max EPS beat(2)4.05%
EPS beat(4)4
Avg EPS beat(4)5.97%
Min EPS beat(4)1.76%
Max EPS beat(4)16.04%
EPS beat(8)8
Avg EPS beat(8)17.88%
EPS beat(12)12
Avg EPS beat(12)40.4%
EPS beat(16)12
Avg EPS beat(16)-5330.06%
Revenue beat(2)2
Avg Revenue beat(2)0.99%
Min Revenue beat(2)0.65%
Max Revenue beat(2)1.33%
Revenue beat(4)4
Avg Revenue beat(4)3.22%
Min Revenue beat(4)0.65%
Max Revenue beat(4)9.92%
Revenue beat(8)6
Avg Revenue beat(8)2.45%
Revenue beat(12)10
Avg Revenue beat(12)156.09%
Revenue beat(16)14
Avg Revenue beat(16)270.39%
PT rev (1m)0%
PT rev (3m)-2.91%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-7.78%
EPS NY rev (1m)-5.13%
EPS NY rev (3m)-5.1%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)1.51%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.32%
Valuation
Industry RankSector Rank
PE 136.44
Fwd PE 102.86
P/S 7.9
P/FCF N/A
P/OCF N/A
P/B 2.41
P/tB 2.65
EV/EBITDA 18.03
EPS(TTM)0.09
EY0.73%
EPS(NY)0.12
Fwd EY0.97%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS1.55
BVpS5.09
TBVpS4.63
PEG (NY)4.64
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 8.86%
ROE 9.82%
ROCE 8.66%
ROIC 6.85%
ROICexc 14.23%
ROICexgc 17.52%
OM 28.84%
PM (TTM) 32.2%
GM 59.15%
FCFM N/A
ROA(3y)4.72%
ROA(5y)-2.45%
ROE(3y)5.19%
ROE(5y)-2.65%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y6.31%
GM growth 5Y4.51%
F-ScoreN/A
Asset Turnover0.28
Health
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Debt/EBITDA 0
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 7.66
Quick Ratio 7.66
Altman-Z 14.43
F-ScoreN/A
WACC8.05%
ROIC/WACC0.85
Cap/Depr(3y)109.17%
Cap/Depr(5y)94.99%
Cap/Sales(3y)1.04%
Cap/Sales(5y)1.22%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)55%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%80%
EPS Next Y29.41%
EPS Next 2Y26%
EPS Next 3Y25.34%
EPS Next 5YN/A
Revenue 1Y (TTM)33.22%
Revenue growth 3Y34.13%
Revenue growth 5Y35.36%
Sales Q2Q%18.41%
Revenue Next Year14.34%
Revenue Next 2Y14.07%
Revenue Next 3Y14.45%
Revenue Next 5Y74.1%
EBIT growth 1Y148.14%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year254.88%
EBIT Next 3Y41.91%
EBIT Next 5YN/A
FCF growth 1Y33.46%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y30.86%
OCF growth 3YN/A
OCF growth 5YN/A