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

USA - NYSE:YMM - US35969L1089 - ADR

11.78 USD
-1.04 (-8.11%)
Last: 10/10/2025, 9:04:16 PM
11.7 USD
-0.08 (-0.68%)
After Hours: 10/10/2025, 9:04:16 PM
Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to YMM. YMM was compared to 42 industry peers in the Ground Transportation industry. YMM is in great health and has no worries on liquidiy or solvency at all, but the profibility rating is only average. YMM is showing excellent growth while it is valued at reasonable prices. Keep and eye on this one! These ratings would make YMM suitable for growth investing!


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year YMM was profitable.
In multiple years YMM reported negative net income over the last 5 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

With an excellent Return On Assets value of 9.81%, YMM belongs to the best of the industry, outperforming 88.10% of the companies in the same industry.
The Return On Equity of YMM (10.65%) is better than 64.29% of its industry peers.
Looking at the Return On Invested Capital, with a value of 7.80%, YMM is in the better half of the industry, outperforming 71.43% of the companies in the same industry.
Industry RankSector Rank
ROA 9.81%
ROE 10.65%
ROIC 7.8%
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

YMM's Profit Margin of 34.40% is amongst the best of the industry. YMM outperforms 100.00% of its industry peers.
YMM has a better Operating Margin (32.44%) than 88.10% of its industry peers.
YMM's Gross Margin of 61.36% is fine compared to the rest of the industry. YMM outperforms 73.81% of its industry peers.
YMM's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 32.44%
PM (TTM) 34.4%
GM 61.36%
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.
Compared to 1 year ago, YMM has about the same amount of shares outstanding.
YMM has less shares outstanding than it did 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

An Altman-Z score of 16.46 indicates that YMM is not in any danger for bankruptcy at the moment.
YMM has a better Altman-Z score (16.46) than 97.62% of its industry peers.
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 16.46
ROIC/WACC0.97
WACC8.04%
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 8.89. This indicates that YMM is financially healthy and has no problem in meeting its short term obligations.
YMM's Current ratio of 8.89 is amongst the best of the industry. YMM outperforms 100.00% of its industry peers.
YMM has a Quick Ratio of 8.89. This indicates that YMM is financially healthy and has no problem in meeting its short term obligations.
The Quick ratio of YMM (8.89) is better than 100.00% of its industry peers.
Industry RankSector Rank
Current Ratio 8.89
Quick Ratio 8.89
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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7

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 286.44% over the past year.
Looking at the last year, YMM shows a very strong growth in Revenue. The Revenue has grown by 27.79%.
Measured over the past years, YMM shows a very strong growth in Revenue. The Revenue has been growing by 35.36% on average per year.
EPS 1Y (TTM)286.44%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%38.32%
Revenue 1Y (TTM)27.79%
Revenue growth 3Y34.13%
Revenue growth 5Y35.36%
Sales Q2Q%759.64%

3.2 Future

YMM is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 25.92% yearly.
YMM is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 17.14% yearly.
EPS Next Y42.76%
EPS Next 2Y29.53%
EPS Next 3Y28.64%
EPS Next 5Y25.92%
Revenue Next Year6.9%
Revenue Next 2Y6.94%
Revenue Next 3Y10.85%
Revenue Next 5Y17.14%

3.3 Evolution

The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past 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 2028 0 2 4 6 8

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5

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 17.32, YMM is valued on the expensive side.
Compared to the rest of the industry, the Price/Earnings ratio of YMM indicates a rather cheap valuation: YMM is cheaper than 85.71% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 27.02. YMM is valued slightly cheaper when compared to this.
With a Price/Forward Earnings ratio of 15.31, YMM is valued correctly.
80.95% of the companies in the same industry are more expensive than YMM, based on the Price/Forward Earnings ratio.
YMM is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 22.57, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 17.32
Fwd PE 15.31
YMM Price Earnings VS Forward Price EarningsYMM Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, YMM is valued a bit more expensive than 61.90% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 21.84
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

YMM's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
YMM's earnings are expected to grow with 28.64% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.41
PEG (5Y)N/A
EPS Next 2Y29.53%
EPS Next 3Y28.64%

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2

5. Dividend

5.1 Amount

YMM has a Yearly Dividend Yield of 1.16%.
YMM's Dividend Yield is a higher than the industry average which is at 1.61.
With a Dividend Yield of 1.16, YMM pays less dividend than the S&P500 average, which is at 2.44.
Industry RankSector Rank
Dividend Yield 1.16%

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 0.15

5.3 Sustainability

DPN/A
EPS Next 2Y29.53%
EPS Next 3Y28.64%
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 (10/10/2025, 9:04:16 PM)

After market: 11.7 -0.08 (-0.68%)

11.78

-1.04 (-8.11%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryGround Transportation
Earnings (Last)08-21 2025-08-21/bmo
Earnings (Next)11-18 2025-11-18/bmo
Inst Owners77.94%
Inst Owner Change-0.04%
Ins Owners0.52%
Ins Owner ChangeN/A
Market Cap12.32B
Analysts82.11
Price Target15.88 (34.8%)
Short Float %57.6%
Short Ratio2.33
Dividend
Industry RankSector Rank
Dividend Yield 1.16%
Yearly Dividend0.14
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-Date10-10 2025-10-10 (0.096)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)7.39%
Min EPS beat(2)4.4%
Max EPS beat(2)10.37%
EPS beat(4)4
Avg EPS beat(4)7.93%
Min EPS beat(4)0.4%
Max EPS beat(4)16.54%
EPS beat(8)8
Avg EPS beat(8)14.72%
EPS beat(12)12
Avg EPS beat(12)33.31%
EPS beat(16)13
Avg EPS beat(16)-771.95%
Revenue beat(2)2
Avg Revenue beat(2)3.03%
Min Revenue beat(2)0.98%
Max Revenue beat(2)5.07%
Revenue beat(4)2
Avg Revenue beat(4)-19.71%
Min Revenue beat(4)-84.59%
Max Revenue beat(4)5.07%
Revenue beat(8)4
Avg Revenue beat(8)-19.77%
Revenue beat(12)7
Avg Revenue beat(12)91%
Revenue beat(16)11
Avg Revenue beat(16)222.99%
PT rev (1m)1%
PT rev (3m)2.14%
EPS NQ rev (1m)0%
EPS NQ rev (3m)479.94%
EPS NY rev (1m)-6.47%
EPS NY rev (3m)567.19%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)575.42%
Revenue NY rev (1m)0%
Revenue NY rev (3m)577.81%
Valuation
Industry RankSector Rank
PE 17.32
Fwd PE 15.31
P/S 7.23
P/FCF N/A
P/OCF N/A
P/B 2.24
P/tB 2.46
EV/EBITDA 21.84
EPS(TTM)0.68
EY5.77%
EPS(NY)0.77
Fwd EY6.53%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS1.63
BVpS5.26
TBVpS4.8
PEG (NY)0.41
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 9.81%
ROE 10.65%
ROCE 9.87%
ROIC 7.8%
ROICexc 7.8%
ROICexgc 8.54%
OM 32.44%
PM (TTM) 34.4%
GM 61.36%
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 Turnover0.29
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 8.89
Quick Ratio 8.89
Altman-Z 16.46
F-ScoreN/A
WACC8.04%
ROIC/WACC0.97
Cap/Depr(3y)108.85%
Cap/Depr(5y)94.8%
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)286.44%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%38.32%
EPS Next Y42.76%
EPS Next 2Y29.53%
EPS Next 3Y28.64%
EPS Next 5Y25.92%
Revenue 1Y (TTM)27.79%
Revenue growth 3Y34.13%
Revenue growth 5Y35.36%
Sales Q2Q%759.64%
Revenue Next Year6.9%
Revenue Next 2Y6.94%
Revenue Next 3Y10.85%
Revenue Next 5Y17.14%
EBIT growth 1Y169.57%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year54.67%
EBIT Next 3Y36.85%
EBIT Next 5YN/A
FCF growth 1Y33.41%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y30.84%
OCF growth 3YN/A
OCF growth 5YN/A