Full Truck Alliance Co. Ltd. YMM
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Market cap
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52-week range
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No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.
Valuation FY2025 figures against the last close
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS0.03
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $1.79B | $1.54B | $1.19B | $976.3M | $730.8M | — | — |
| Cost of revenue | $660.5M | $698.8M | $580.2M | $509.6M | $398.6M | — | — |
| Gross profit | $1.13B | $840.9M | $608.1M | $466.7M | $332.2M | — | — |
| R&D | $125.0M | $120.6M | $133.3M | $132.5M | $114.5M | — | — |
| SG&A | $101.5M | $125.2M | $132.1M | $205.6M | $670.2M | — | — |
| Total operating expenses | $1.20B | $1.20B | $1.05B | $1.01B | $1.33B | — | — |
| Operating income | $592.9M | $339.1M | $140.5M | -$23.5M | -$595.7M | — | — |
| Interest expense | — | $0 | $0 | $25.0K | $6.0K | — | — |
| Pre-tax income | $770.5M | $460.7M | $328.7M | $73.6M | -$571.2M | — | — |
| Income tax | $132.9M | $32.8M | $15.0M | $13.9M | $2.2M | — | — |
| Net income | $637.6M | $427.9M | $313.7M | $59.7M | -$573.5M | — | — |
| EPS, basic | 0.03 | 0.02 | 0.01 | 0.00 | — | — | — |
| EPS, diluted | 0.03 | 0.02 | 0.01 | 0.00 | -0.05 | — | — |
| Shares, diluted (wtd. avg.) | 20.93B | 20.90B | 21.16B | 21.58B | 13.45B | 3.42B | 3.30B |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $867.4M | $851.0M | $944.8M | $735.4M | $632.7M | $1.59B | — |
| Short-term investments | $1.58B | $2.06B | $1.62B | $3.06B | $3.39B | — | — |
| Receivables | $10.7M | $2.7M | $3.3M | $1.9M | $4.6M | — | — |
| Total current assets | $3.30B | $3.73B | $3.38B | $4.50B | $4.53B | — | — |
| Property, plant and equipment | $65.4M | $39.7M | $27.4M | $15.8M | $16.0M | — | — |
| Goodwill | $575.6M | $428.1M | $440.1M | $453.1M | $490.4M | — | — |
| Other intangibles | $108.3M | $53.9M | $63.4M | $72.8M | $87.4M | — | — |
| Total assets | $6.34B | $5.66B | $5.54B | $5.32B | $5.40B | — | — |
| Accounts payable | $5.4M | $4.3M | $3.6M | $4.1M | $4.6M | — | — |
| Total current liabilities | $407.7M | $413.7M | $461.2M | $396.1M | $429.0M | — | — |
| Total liabilities | $436.2M | $431.8M | $486.3M | $418.9M | $450.3M | — | — |
| Retained earnings | -$1.00B | -$1.56B | -$2.03B | -$2.41B | -$2.67B | — | — |
| Total equity | $5.79B | $5.16B | $5.02B | $4.88B | $4.95B | — | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $661.6M | $406.9M | $319.7M | -$2.2M | -$33.2M | — | — |
| Depreciation and amortisation | $14.3M | $10.7M | $10.5M | $12.8M | $10.6M | — | — |
| Stock-based compensation | $40.3M | $68.0M | $62.2M | $133.3M | $569.4M | — | — |
| Capital expenditure | $18.5M | $10.3M | $14.1M | $12.4M | $6.8M | — | — |
| Investing cash flow | -$388.6M | -$331.5M | $78.0M | $309.0M | -$2.26B | — | — |
| Financing cash flow | -$236.8M | -$208.2M | -$164.4M | -$192.9M | $1.40B | — | — |
| Dividends paid | $203.8M | $145.8M | — | — | — | — | — |
| Buybacks | $5.0M | $0 | $25.3M | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-153778.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | $730.8M | $976.3M | $1.19B | $1.54B | $1.79B |
| Gross profit | — | — | $332.2M | $466.7M | $608.1M | $840.9M | $1.13B |
| Net income | — | — | -$573.5M | $59.7M | $313.7M | $427.9M | $637.6M |
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