YMM · NYSE · Technology
Full Truck Alliance Co. Ltd. (YMM) — Rank #367 by gross profitability (GP/assets 0.18) · ROE 11.0% · Piotroski F-Score 6 / 9.
As-of 2026-10-30 · CIK 0001838413 · all metrics point-in-time as of the filing date.
About
Full Truck Alliance Co.
Show moreShow less
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 and Hong Kong. The company offers freight matching services, such as freight listing and brokerage services; and transaction services, as well as various value-added services, such as credit solutions, insurance brokerage, software solutions, electronic toll collection, Intelligent Driving Related Services, and energy services. It also provides technology development and other services. Full Truck Alliance Co. Ltd.
was founded in 2011 and is based in Guiyang, China.
- Industry
- Software - Application
- Sector
- Technology
- State
- E9
- Filer Category
- Large accelerated filer
- Fiscal Year End
- December 31
- Website
- fulltruckalliance.com
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
—
P/E (annual)
—
P/S (annual)
—
P/B
—
P/OCF (annual)
—
Shareholder Yield
—
Employees
8,251
Industry
Software - Application
Exchange
NYSE
11/11
Flags passed
YMM passes 11/11 quality flags
- PASSGross margin holding
- PASSDilution within 2%
- PASSFCF not negative from investment
- PASSDisclosure consistent
- PASSRevenue not declining
- PASSOperating margin holding
- PASSFree cash flow intact
- PASSPasses safety gate
- PASSNo competitive retreat
- PASSSBC not compressing margin
- PASSNo valuation convergence
Strengths Operating leverage expanding · Deferred revenue growing
No data Balance sheet — not counted as a pass.
A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
2/2 passFCF yield, shareholder yield, and buyback activity are the primary reads at this stage.
Profitability
Does it make money well?
No warning flags · GP/assets 6th percentile of 36 SIC 7372 peers
Gross profitability (GP / assets)
0.18
Primary signal (Novy-Marx).
6th pctl of 36 SIC 7372 peers
Return on equity
11.0%
Gross margin
63.0%
29th pctl of 36 SIC 7372 peers
Revenue growth (YoY)
11.1%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
22.9%
Revenue CAGR (5Y)
37.1%
Earnings CAGR (3Y)
121.2%
FCF CAGR (3Y)
—
Cash Flow Health
Is the cash real?
No warning flags · FCF 1% above net income
Free cash flow
$4.50B
Operating cash flow minus capex.
Positive free cash flow
FCF vs net income
0.9%
(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.
FCF not below net income
Fails when free cash flow is below net income (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
2.3%
Stock-based comp intensity.
Balance Sheet Strength
Can it survive a storm?
No warning flags · net cash $17.11B, F-Score 6/9
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
0.08
100th pctl of 32 SIC 7372 peers (best = lowest)
Current ratio
8.09×
97th pctl of 36 SIC 7372 peers
Quick ratio
6.03×
Net cash
$17.11B
Cash & equivalents minus total debt.
Piotroski F-Score
6 / 9
Fundamental-strength score (0-9).
Valuation
Is the price reasonable?
No warning flags
Dividend safety
Composite score
3.0 / 5
Capital allocation quality
Composite score
1.0 / 5
Lifecycle Phase History
Price History
Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports