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Full Truck Alliance Co. Ltd. American Depositary Receipt represents shares in a leading digital freight platform that connects shippers with truckers, primarily serving the Chinese logistics sector. The company's platform facilitates freight matching across various distances, cargo types, and weights, while also offering a range of value-added services like credit solutions, insurance brokerage, software solutions, and electronic toll collection. Through its technology-driven approach, Full Truck Alliance Co. Ltd. aims to streamline logistics operations, boost efficiency across the supply chain, and promote sustainability within the industry. The asset is notable for its significant revenue growth, strong market presence, and its role as a technological innovator within the transportation and logistics landscape. Its American Depositary Receipts provide investors outside China with access to the company’s equity, supporting international participation in an expanding sector that is critical to global supply chains and the advancement of digital logistics infrastructure.
$9.14
$0.20 (-2.14%)
EOD Jul 17, 2026
33.20% operating margin is above average. ROIC at 8.63%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue up 11.1% YoY with margins expanding 11.2pp.
Even for strong businesses, today's 15x P/E means the stock needs to keep delivering. There's no margin of safety if growth disappoints.
15.5x earnings, 14.4x FCF. Valuation is in a reasonable range. The main question is whether the business can re-accelerate or if current trajectory is already priced in.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
¥12.64B
▲ +11.1% YoY
Net Income (TTM)
¥4.17B
▲ +42.8% YoY
Op. Margin
31.25%
▲ +11.2pp YoY
ROIC
8.63%
▲ +2.4pp YoY
Cash Flow & Balance Sheet
FCF (FY)
¥4.50B
▲ +55.3% YoY
Op. Cash Flow (FY)
¥4.63B
▲ +55.8% YoY
Net Debt
-¥17.08B
Net Cash Position
Cash & Equiv.
¥17.11B
3Y CAGR: +22.9%
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At a P/E of 15.5 and a price-to-free-cash-flow of 14.4, Full Truck Alliance Co. Ltd. American Depositary Receipt (YMM) trades below a two-stage DCF intrinsic value of about CNY 233.77 per share, so at CNY 9.14 the stock looks undervalued (2,457.7% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Full Truck Alliance Co. Ltd. American Depositary Receipt scores 88/100 on Intrinsiqq's quality scorecard (a high-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 2.2%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about CNY 233.77 per share for YMM, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around CNY 175.33. At today's CNY 9.14, that puts the stock about 2,457.7% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Full Truck Alliance Co. Ltd. American Depositary Receipt scores 88 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a high-quality business on these measures. Recent fundamentals include a 31.3% operating margin and a 8.6% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Yes, Full Truck Alliance Co. Ltd. American Depositary Receipt pays a regular dividend of about CNY 1.36 per share per year (typically in quarterly installments), a yield of roughly 2.2% at the current price. That is a payout ratio of about 34.1% of earnings, so the dividend is amply covered by earnings. Full Truck Alliance Co. Ltd. American Depositary Receipt has grown the dividend at roughly 33.9% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For YMM's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. YMM currently trades below its estimated intrinsic value and scores 88/100 on quality (high-quality). It also yields about 2.2%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.