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

USA - New York Stock Exchange - NYSE:YMM - US35969L1089 - ADR

10.73 USD
-0.2 (-1.83%)
Last: 12/31/2025, 8:04:00 PM
10.73 USD
0 (0%)
After Hours: 12/31/2025, 8:04:00 PM
Fundamental Rating

6

Taking everything into account, YMM scores 6 out of 10 in our fundamental rating. YMM was compared to 42 industry peers in the Ground Transportation industry. YMM has an excellent financial health rating, but there are some minor concerns on its profitability. YMM has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year YMM was profitable.
The reported net income has been mixed in the past 5 years: YMM reported negative net income in multiple years.
The reported operating cash flow has been mixed in the past 5 years: YMM reported negative operating cash flow in multiple 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

The Return On Assets of YMM (9.02%) is better than 90.48% of its industry peers.
YMM has a better Return On Equity (10.14%) than 66.67% of its industry peers.
The Return On Invested Capital of YMM (7.69%) is better than 73.81% of its industry peers.
Industry RankSector Rank
ROA 9.02%
ROE 10.14%
ROIC 7.69%
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

With an excellent Profit Margin value of 31.90%, YMM belongs to the best of the industry, outperforming 97.62% of the companies in the same industry.
The Operating Margin of YMM (31.71%) is better than 88.10% of its industry peers.
Looking at the Gross Margin, with a value of 60.44%, YMM is in the better half of the industry, outperforming 71.43% of the companies in the same industry.
In the last couple of years the Gross Margin of YMM has grown nicely.
Industry RankSector Rank
OM 31.71%
PM (TTM) 31.9%
GM 60.44%
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

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), YMM is destroying value.
The number of shares outstanding for YMM remains at a similar level compared to 1 year ago.
YMM has less shares outstanding than it did 5 years ago.
YMM has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the 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 10.70. This indicates that YMM is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of YMM (10.70) is better than 95.24% of its industry peers.
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.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Altman-Z 10.7
ROIC/WACC0.85
WACC9.05%
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

A Current Ratio of 6.26 indicates that YMM has no problem at all paying its short term obligations.
The Current ratio of YMM (6.26) is better than 100.00% of its industry peers.
YMM has a Quick Ratio of 6.26. This indicates that YMM is financially healthy and has no problem in meeting its short term obligations.
The Quick ratio of YMM (6.26) is better than 100.00% of its industry peers.
Industry RankSector Rank
Current Ratio 6.26
Quick Ratio 6.26
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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6

3. Growth

3.1 Past

YMM shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 26.30%, which is quite impressive.
The Revenue has grown by 19.08% in the past year. This is quite good.
YMM shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 35.36% yearly.
EPS 1Y (TTM)26.3%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-23.65%
Revenue 1Y (TTM)19.08%
Revenue growth 3Y34.13%
Revenue growth 5Y35.36%
Sales Q2Q%677.43%

3.2 Future

Based on estimates for the next years, YMM will show a quite strong growth in Earnings Per Share. The EPS will grow by 19.66% on average per year.
The Revenue is expected to grow by 17.14% on average over the next years. This is quite good.
EPS Next Y18.07%
EPS Next 2Y15.1%
EPS Next 3Y17.45%
EPS Next 5Y19.66%
Revenue Next Year12.33%
Revenue Next 2Y10.56%
Revenue Next 3Y11.63%
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

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4

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 16.51, the valuation of YMM can be described as correct.
Based on the Price/Earnings ratio, YMM is valued cheaply inside the industry as 85.71% of the companies are valued more expensively.
When comparing the Price/Earnings ratio of YMM to the average of the S&P500 Index (26.51), we can say YMM is valued slightly cheaper.
The Price/Forward Earnings ratio is 14.58, which indicates a correct valuation of YMM.
Based on the Price/Forward Earnings ratio, YMM is valued cheaper than 92.86% of the companies in the same industry.
YMM is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 23.13, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 16.51
Fwd PE 14.58
YMM Price Earnings VS Forward Price EarningsYMM Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, YMM is valued a bit more expensive than the industry average as 64.29% of the companies are valued more cheaply.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 19.83
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.
A more expensive valuation may be justified as YMM's earnings are expected to grow with 17.45% in the coming years.
PEG (NY)0.91
PEG (5Y)N/A
EPS Next 2Y15.1%
EPS Next 3Y17.45%

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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 0.74.
Compared to an average S&P500 Dividend Yield of 2.00, YMM's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 1.16%

5.2 History

YMM is new to the dividend game and has less than 3 years of track record.
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 2Y15.1%
EPS Next 3Y17.45%
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 (12/31/2025, 8:04:00 PM)

After market: 10.73 0 (0%)

10.73

-0.2 (-1.83%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryGround Transportation
Earnings (Last)11-17 2025-11-17/bmo
Earnings (Next)03-03 2026-03-03/amc
Inst Owners82.44%
Inst Owner Change8.82%
Ins Owners0.52%
Ins Owner ChangeN/A
Market Cap11.22B
Revenue(TTM)12.47B
Net Income(TTM)3.98B
Analysts82.11
Price Target14.8 (37.93%)
Short Float %53.92%
Short Ratio4
Dividend
Industry RankSector Rank
Dividend Yield 1.16%
Yearly Dividend0.15
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)0.38%
Min EPS beat(2)-9.6%
Max EPS beat(2)10.37%
EPS beat(4)3
Avg EPS beat(4)1.39%
Min EPS beat(4)-9.6%
Max EPS beat(4)10.37%
EPS beat(8)7
Avg EPS beat(8)9.42%
EPS beat(12)11
Avg EPS beat(12)18.06%
EPS beat(16)13
Avg EPS beat(16)-760.27%
Revenue beat(2)2
Avg Revenue beat(2)5.84%
Min Revenue beat(2)5.07%
Max Revenue beat(2)6.61%
Revenue beat(4)3
Avg Revenue beat(4)3.09%
Min Revenue beat(4)-0.3%
Max Revenue beat(4)6.61%
Revenue beat(8)3
Avg Revenue beat(8)-41.23%
Revenue beat(12)4
Avg Revenue beat(12)-48.77%
Revenue beat(16)8
Avg Revenue beat(16)-34.3%
PT rev (1m)-6.77%
PT rev (3m)-6.77%
EPS NQ rev (1m)-0.51%
EPS NQ rev (3m)-4.54%
EPS NY rev (1m)-1.63%
EPS NY rev (3m)-1.63%
Revenue NQ rev (1m)1.06%
Revenue NQ rev (3m)11.07%
Revenue NY rev (1m)5.07%
Revenue NY rev (3m)5.07%
Valuation
Industry RankSector Rank
PE 16.51
Fwd PE 14.58
P/S 6.29
P/FCF N/A
P/OCF N/A
P/B 2
P/tB 2.27
EV/EBITDA 19.83
EPS(TTM)0.65
EY6.06%
EPS(NY)0.74
Fwd EY6.86%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS1.71
BVpS5.37
TBVpS4.72
PEG (NY)0.91
PEG (5Y)N/A
Graham Number8.86
Profitability
Industry RankSector Rank
ROA 9.02%
ROE 10.14%
ROCE 9.73%
ROIC 7.69%
ROICexc 7.69%
ROICexgc 8.69%
OM 31.71%
PM (TTM) 31.9%
GM 60.44%
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
ROICexgc growth 3YN/A
ROICexgc 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 6.26
Quick Ratio 6.26
Altman-Z 10.7
F-ScoreN/A
WACC9.05%
ROIC/WACC0.85
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)26.3%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-23.65%
EPS Next Y18.07%
EPS Next 2Y15.1%
EPS Next 3Y17.45%
EPS Next 5Y19.66%
Revenue 1Y (TTM)19.08%
Revenue growth 3Y34.13%
Revenue growth 5Y35.36%
Sales Q2Q%677.43%
Revenue Next Year12.33%
Revenue Next 2Y10.56%
Revenue Next 3Y11.63%
Revenue Next 5Y17.14%
EBIT growth 1Y109.23%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year60.04%
EBIT Next 3Y36.57%
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

FULL TRUCK ALLIANCE -SPN ADR / YMM FAQ

What is the fundamental rating for YMM stock?

ChartMill assigns a fundamental rating of 6 / 10 to YMM.


Can you provide the valuation status for FULL TRUCK ALLIANCE -SPN ADR?

ChartMill assigns a valuation rating of 4 / 10 to FULL TRUCK ALLIANCE -SPN ADR (YMM). This can be considered as Fairly Valued.


How profitable is FULL TRUCK ALLIANCE -SPN ADR (YMM) stock?

FULL TRUCK ALLIANCE -SPN ADR (YMM) has a profitability rating of 5 / 10.


What is the financial health of FULL TRUCK ALLIANCE -SPN ADR (YMM) stock?

The financial health rating of FULL TRUCK ALLIANCE -SPN ADR (YMM) is 9 / 10.