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Full Truck Alliance Co. Ltd.

YMM Clue Score83
Cayman Islands Fiscal year ends December CIK 0001838413
$8.56 +2.76% Close, 9 Oct 2026
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Price $8.56 −45.06% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 22 Jun 2021. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2019Revenue2.47Operating income−1.02Net income−1.52Fiscal year 2020Revenue2.58 +4.4%Operating income−3.61Net income−3.47EPS, diluted−1.05Fiscal year 2021Revenue4.66 +80.4%Operating income−3.80Net income−3.65EPS, diluted−0.31Fiscal year 2022Revenue6.73 +44.6%Operating income−0.16Net income0.41EPS, diluted0.02Fiscal year 2023Revenue8.44 +25.3%Operating income1.00Net income2.23 +440.7%EPS, diluted0.10Fiscal year 2024Revenue11.24 +33.2%Operating income2.47Net income3.12 +40.2%EPS, diluted0.15Fiscal year 2025Revenue12.49 +11.1%Operating income4.15Net income4.46 +42.8%EPS, diluted0.21
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 2.47 2.58 4.66 6.73 8.44 11.24 12.49
Growth +4.4% +80.4% +44.6% +25.3% +33.2% +11.1%
Operating income −1.02 −3.61 −3.80 −0.16 1.00 2.47 4.15
Net income −1.52 −3.47 −3.65 0.41 2.23 3.12 4.46
Growth +440.7% +40.2% +42.8%
EPS, diluted n/a −1.05 −0.31 0.02 0.10 0.15 0.21

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2019Operating margin−41.3%Net margin−61.6%Free cash flow margin−37.8%Fiscal year 2020Operating margin−140.1%Net margin−134.5%Free cash flow margin20.2%Fiscal year 2021Operating margin−81.5%Net margin−78.5%Free cash flow margin−5.5%Fiscal year 2022Operating margin−2.4%Net margin6.1%Free cash flow margin−1.5%Fiscal year 2023Operating margin11.8%Net margin26.4%Free cash flow margin25.7%Fiscal year 2024Operating margin22.0%Net margin27.8%Free cash flow margin25.8%Fiscal year 2025Operating margin33.2%Net margin35.7%Free cash flow margin36.0%
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin −41.3% −140.1% −81.5% −2.4% 11.8% 22.0% 33.2%
Net margin −61.6% −134.5% −78.5% 6.1% 26.4% 27.8% 35.7%
Free cash flow margin −37.8% 20.2% −5.5% −1.5% 25.7% 25.8% 36.0%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2019Operating cash flow−0.92Capital expenditure−0.01Free cash flow−0.93Fiscal year 2020Operating cash flow0.57Capital expenditure−0.05Free cash flow0.52Fiscal year 2021Operating cash flow−0.21Capital expenditure−0.04Free cash flow−0.25 −148.8%Buybacks0.00Fiscal year 2022Operating cash flow−0.02Capital expenditure−0.09Free cash flow−0.10Buybacks0.00Dividends paid0.00Fiscal year 2023Operating cash flow2.27Capital expenditure−0.10Free cash flow2.17Buybacks−0.18Dividends paid0.00Fiscal year 2024Operating cash flow2.97Capital expenditure−0.07Free cash flow2.90 +33.5%Buybacks0.00Dividends paid−1.06Fiscal year 2025Operating cash flow4.63Capital expenditure−0.13Free cash flow4.50 +55.3%Buybacks−0.04Dividends paid−1.43
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −0.92 0.57 −0.21 −0.02 2.27 2.97 4.63
Capital expenditure −0.01 −0.05 −0.04 −0.09 −0.10 −0.07 −0.13
Free cash flow −0.93 0.52 −0.25 −0.10 2.17 2.90 4.50
Growth −148.8% +33.5% +55.3%
Buybacks n/a n/a 0.00 0.00 −0.18 0.00 −0.04
Dividends paid n/a n/a n/a 0.00 0.00 −1.06 −1.43

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2019Cash3.98Shareholders’ equity−7.09Fiscal year 2020Cash10.06Shareholders’ equity−8.48Fiscal year 2021Cash4.28Shareholders’ equity31.53Fiscal year 2022Cash5.14Shareholders’ equity33.66Fiscal year 2023Cash6.77Shareholders’ equity35.62Fiscal year 2024Cash5.81Shareholders’ equity37.69Fiscal year 2025Cash6.07Shareholders’ equity40.52
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 3.98 10.06 4.28 5.14 6.77 5.81 6.07
Shareholders’ equity −7.09 −8.48 31.53 33.66 35.62 37.69 40.52

In billions of CNY, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
−41.3% −140.1% −81.5% −2.4% 11.8% 22.0% 33.2%
−62.9% −133.7% −78.2% 7.5% 27.7% 29.9% 43.1%
−61.6% −134.5% −78.5% 6.1% 26.4% 27.8% 35.7%
−37.8% 20.2% −5.5% −1.5% 25.7% 25.8% 36.0%
Spending
16.0% 16.0% 15.7% 13.6% 11.2% 7.8% 7.0%
48.1% 152.6% 91.7% 21.1% 11.1% 8.1% 5.7%
0.4% 2.1% 0.9% 1.3% 1.2% 0.7% 1.0%
n/a n/a n/a 18.9% 4.6% 7.1% 17.2%
Returns
n/a n/a −11.6% 1.2% 6.3% 8.3% 11.0%
n/a −13.8% −10.6% 1.1% 5.7% 7.6% 10.1%
Balance and payout
n/a 8.3% 8.3% 7.9% 8.8% 7.6% 6.9%
n/a n/a n/a 0.0% 0.0% 34.1% 32.0%
n/a n/a n/a n/a 8.3% 36.8% 32.5%

Shown in CNY as filed; the screener converts to dollars.