Full Truck Alliance Co. Ltd. (YMM) Financial Statements
Full Truck Alliance financial statements at a glance
Full Truck Alliance reported revenue of 12.49 billion CNY for fiscal year 2025 (ended December 31, 2025), up 11.1% from fiscal year 2024. Net income was 4.41 billion CNY, a net margin of 35.3%, and diluted earnings per share were 4.20 CNY.
At the end of fiscal year 2025 it had total assets of 44.32 billion CNY, total liabilities of 3.05 billion CNY and shareholders' equity of 40.03 billion CNY, with cash and short-term investments of 17.11 billion CNY and total debt of 35.33 million CNY.
Its operations brought in 4.63 billion CNY of cash; capital spending was 129.71 million CNY, leaving free cash flow of 4.50 billion CNY.
The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.
Figures from company filings, in CNY; latest fiscal year ended December 31, 2025.
Full Truck Alliance Co. Ltd.
Income Statement
Annual • CNY
Full Truck Alliance key figures by fiscal year
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | 12.5B CNY | 11.2B CNY | 8.4B CNY | 6.7B CNY | 4.7B CNY |
| Gross profit | 7.9B CNY | 6.1B CNY | 4.3B CNY | 3.2B CNY | 2.1B CNY |
| Operating income | 4.1B CNY | 2.5B CNY | 997.4M CNY | -162.0M CNY | -3.8B CNY |
| Net income | 4.4B CNY | 3.1B CNY | 2.2B CNY | 406.8M CNY | -4.2B CNY |
| Diluted EPS | 4.20 CNY | – | 2.00 CNY | 0.40 CNY | -6.20 CNY |
| Total assets | 44.3B CNY | 41.3B CNY | 39.3B CNY | 36.7B CNY | 34.4B CNY |
| Total liabilities | 3.1B CNY | 3.2B CNY | 3.5B CNY | 2.9B CNY | 2.9B CNY |
| Shareholders' equity | 40.0B CNY | 37.7B CNY | 35.6B CNY | 33.7B CNY | 31.5B CNY |
| Cash and short-term investments | 17.1B CNY | 20.8B CNY | 18.3B CNY | 26.2B CNY | 25.9B CNY |
| Total debt | 35.3M CNY | 65.1M CNY | 84.5M CNY | 80.5M CNY | 9.0M CNY |
| Operating cash flow | 4.6B CNY | 3.0B CNY | 2.3B CNY | -15.5M CNY | -211.4M CNY |
| Capital spending | 129.7M CNY | 75.0M CNY | 100.3M CNY | 85.7M CNY | 43.2M CNY |
| Free cash flow | 4.5B CNY | 2.9B CNY | 2.2B CNY | -101.2M CNY | -254.6M CNY |
In CNY. Fiscal years as reported by the company; statements on this page go back to fiscal year 2019.
Questions and answers
What was Full Truck Alliance's revenue in fiscal year 2025?
12.49 billion CNY, up 11.1% from 11.24 billion CNY in fiscal year 2024.
How much profit does Full Truck Alliance make?
Full Truck Alliance reported net income of 4.41 billion CNY for fiscal year 2025 (35.3% of revenue); operating income was 4.15 billion CNY.
How much cash and debt does Full Truck Alliance have?
At the end of fiscal year 2025: cash and short-term investments of 17.11 billion CNY and total debt of 35.33 million CNY.
What is Full Truck Alliance's free cash flow?
4.50 billion CNY in fiscal year 2025 (operating cash flow of 4.63 billion CNY minus capital spending of 129.71 million CNY).
