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Chinese digital freight-matching platform connecting truckers with shippers, often called 'Uber for trucks'.
Chinese digital freight-matching platform connecting truckers with shippers, often called 'Uber for trucks'.
Earns fees from shippers for membership, load listings and commissions on completed matches, with brokerage and fulfilment for large shippers added on. Drivers are monetised mainly through add-ons such as fuel cards, insurance and toll-payment (ETC) services.
Moat: wide (network effects, scale, data). Dominant two-sided marketplace scale in China's fragmented trucking market is difficult for new entrants to replicate.
Headquarters: Guiyang, China · Founded: 2017 · Employees: 8,251
Size Full Truck Alliance Co. Ltd. Sponsored ADR (YMM) is a United States Information Technology company (Packaged Software) with a market value of $9.35B, the 809th largest of 3,117 United States companies the cockpit tracks. Shares closed at $9.16 on 6 Nov 2026.
Performance Over six months the shares gained 4.0%, against +20.5% for the median peer and -1.1% for the United States market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 8.6% over the last twelve months (peer median +21.0%); the operating margin is 33.6% (peer median 11.2%).
Valuation It trades at 12.8× forward earnings against a peer median of 35.2× (2nd cheapest of 19).
Price implies For today's price to make sense, revenue must grow about -11% a year for seven years (Req g). Recent delivered growth is +36%, so the hurdle is -47 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 10.4 points above its cost of capital (6.4% WACC).
Short interest Short interest is 2.3% of the free float (15 Oct 2026).
Next results Next results expected around 19 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.83B | $1.74B | $1.56B | $1.19B | $1,000M |
| Revenue growth | — | +11% | +31% | +19% | — |
| Gross profit | $1.20B | $1.09B | $853M | $609M | $478M |
| EBITDA | $627M | $583M | $351M | $146M | -$18.0M |
| Net income | $605M | $613M | $427M | $312M | $60.4M |
| Free cash flow | n/a | $626M | $402M | $306M | -$15.0M |
| Capital expenditure | n/a | $18.0M | $10.4M | $14.2M | $12.7M |
| Total debt | $3.66M | $5.06M | $8.92M | $11.9M | $11.6M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Full Truck Alliance Co. Ltd. Sponsored ADR YMM | $9.35B | +4% | +9% | 34% | 12.8× | -10.9% |
| Uber UBER | $140B | -9% | +14% | 13% | 16.8× | 13.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | YMM | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.0% | -3.7% | 7th highest of 21 |
| 6-month return | +4.0% | +20.5% | 8th lowest of 21 |
| Distance from 52-week high | -30.0% | -23.4% | 10th lowest of 21 |
| Revenue growth (TTM) | +8.6% | +21.0% | 2nd lowest of 21 |
| Operating margin | 33.6% | 11.2% | 3rd highest of 21 |
| Forward P/E | 12.8× | 35.2× | 2nd cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -10.9% | 20.7% | least demanding of 20 |
| Growth delivered (Del g) | +36.0% | +23.1% | 4th highest of 20 |
| Hurdle (Req g minus delivered) | -46.9 pp | -6.5 pp | least demanding of 20 |
| ROIC minus cost of capital | +10.4 pp | +0.3 pp | 6th highest of 17 |
| EV / EBITDA | 9.7× | 18.7× | cheapest of 12 |
| Net debt / EBITDA | -5.5× | -0.3× | least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Full Truck Alliance Co. Ltd. Sponsored ADR YMM | United States | $9.35B | +4% | +9% | 34% | 12.8× | -10.9% | +36.0% |
| Hinge Health HNGE | United States | $9.34B | +107% | +50% | 19% | 39.6× | 34.1% | +49.9% |
| Oracle Financial Services Software OFSS.NS | India | $9.43B | +8% | +28% | 52% | 22.7× | 22.0% | +9.0% |
| Elastic ESTC | United States | $9.12B | +65% | +16% | -1% | 24.4× | 13.0% | +23.4% |
| Paylocity PCTY | United States | $9.03B | +56% | +11% | 22% | 19.0× | 2.3% | +22.8% |
| HubSpot HUBS | United States | $10.0B | +2% | +21% | 4% | 12.5× | 25.1% | +28.8% |
| Figma FIG | United States | $10.0B | -9% | +43% | -124% | 54.8× | 22.2% | +43.4% |
| Netskope NTSK | United States | $8.70B | +83% | +30% | -94% | n/a | n/a | n/a |
| 360 Security Technology 601360.SS | China | $8.63B | -26% | +7% | -4% | 172.6× | 55.2% | -5.7% |
| DigitalOcean DOCN | United States | $8.55B | -56% | +28% | 12% | 44.7× | 41.6% | +23.1% |
| CSG Digital Power Grid Research Institute 301638.SZ | China | $8.52B | -37% | +18% | 10% | n/a | 18.0% | +8.2% |
| Wisetech Global WTC.AX | Australia | $10.3B | +15% | +71% | 31% | 32.6× | 30.1% | +32.3% |
| Nemetschek NEM.DE | Germany | $8.39B | +10% | +13% | 26% | 29.9× | 11.1% | +14.8% |
| Snap SNAP | United States | $8.39B | -18% | +13% | -5% | 32.3× | 2.7% | +18.8% |
| Xero XRO.AX | Australia | $8.36B | -13% | +27% | 13% | 66.7× | 25.9% | +25.3% |
| Paycom Software PAYC | United States | $10.5B | +73% | +9% | 30% | 15.9× | 3.3% | +19.5% |
| Descartes Systems DSG.TO | Canada | $8.10B | +32% | +12% | 33% | 37.9× | 4.4% | +16.8% |
| Gitlab GTLB | United States | $8.01B | +85% | +23% | -8% | 55.0× | 18.8% | +44.4% |
| SailPoint SAIL | United States | $11.0B | +57% | +20% | -19% | 53.5× | 42.0% | +24.7% |
| Capcom 9697.T | Japan | $11.0B | +25% | +21% | 41% | 27.0× | -2.2% | +15.4% |
| ServiceTitan TTAN | United States | $7.89B | +36% | +23% | -13% | 55.6× | 20.7% | +27.1% |