YMM Valuation

Full Truck Alliance Co Ltd

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12.940

+0.1(0.779%)1D

Overview
Forecast
Valuation
Earnings

YMM Relative Valuation

YMM's fair value is calculated using relative valuation, based on historical P/E and P/S ranges and their premiums/discounts relative to a competitor average, adjusted by weights. If the market price exceeds this fair value range, YMM is overvalued; if below, it's undervalued.

Historical Valuation

Full Truck Alliance Co Ltd (YMM) is now in the Fair zone, suggesting that its current forward PS ratio of 7.56 is considered Fairly compared with the five-year average of 18.93. The fair price of Full Truck Alliance Co Ltd (YMM) is between 9.23 to 20.21 according to relative valuation methord.

Relative Value

Fair Zone

9.23-20.21

Current Price：12.94

Fair

22.86

Trailing

Forward

15.81

EV/EBITDA

Full Truck Alliance Co Ltd. (YMM) has a current EV/EBITDA of 15.81. The 5-year average EV/EBITDA is 7.68. The thresholds are as follows: Strongly Undervalued below -102.23, Undervalued between -102.23 and -47.28, Fairly Valued between 62.63 and -47.28, Overvalued between 62.63 and 117.59, and Strongly Overvalued above 117.59. The current Forward EV/EBITDA of 15.81 falls within the Historic Trend Line -Fairly Valued range.

16.26

EV/EBIT

Full Truck Alliance Co Ltd. (YMM) has a current EV/EBIT of 16.26. The 5-year average EV/EBIT is 31.08. The thresholds are as follows: Strongly Undervalued below -97.69, Undervalued between -97.69 and -33.30, Fairly Valued between 95.47 and -33.30, Overvalued between 95.47 and 159.85, and Strongly Overvalued above 159.85. The current Forward EV/EBIT of 16.26 falls within the Historic Trend Line -Fairly Valued range.

7.56

Full Truck Alliance Co Ltd. (YMM) has a current PS of 7.56. The 5-year average PS is 7.83. The thresholds are as follows: Strongly Undervalued below -0.19, Undervalued between -0.19 and 3.82, Fairly Valued between 11.84 and 3.82, Overvalued between 11.84 and 15.85, and Strongly Overvalued above 15.85. The current Forward PS of 7.56 falls within the Historic Trend Line -Fairly Valued range.

20.17

P/OCF

Full Truck Alliance Co Ltd. (YMM) has a current P/OCF of 20.17. The 5-year average P/OCF is 68.23. The thresholds are as follows: Strongly Undervalued below -172.24, Undervalued between -172.24 and -52.00, Fairly Valued between 188.47 and -52.00, Overvalued between 188.47 and 308.70, and Strongly Overvalued above 308.70. The current Forward P/OCF of 20.17 falls within the Historic Trend Line -Fairly Valued range.

19.15

P/FCF

Full Truck Alliance Co Ltd. (YMM) has a current P/FCF of 19.15. The 5-year average P/FCF is 35.91. The thresholds are as follows: Strongly Undervalued below -17.50, Undervalued between -17.50 and 9.21, Fairly Valued between 62.61 and 9.21, Overvalued between 62.61 and 89.32, and Strongly Overvalued above 89.32. The current Forward P/FCF of 19.15 falls within the Historic Trend Line -Fairly Valued range.

Full Truck Alliance Co Ltd (YMM) has a current Price-to-Book (P/B) ratio of 2.44. Compared to its 3-year average P/B ratio of 1.77 , the current P/B ratio is approximately 37.82% higher. Relative to its 5-year average P/B ratio of 1.75, the current P/B ratio is about 39.87% higher. Full Truck Alliance Co Ltd (YMM) has a Forward Free Cash Flow (FCF) yield of approximately 0.00%. Compared to its 3-year average FCF yield of 0.40%, the current FCF yield is approximately -100.00% lower. Relative to its 5-year average FCF yield of 0.26% , the current FCF yield is about -100.00% lower.

2.44

P/B

Median3y

1.77

Median5y

1.75

0.00

FCF Yield

Median3y

0.40

Median5y

0.26

Competitors Valuation Multiple

The average P/S ratio for YMM's competitors is 10.15, providing a benchmark for relative valuation. Full Truck Alliance Co Ltd Corp (YMM) exhibits a P/S ratio of 7.56, which is -25.54% above the industry average. Given its robust revenue growth of 17.18%, this premium appears unsustainable.

P/S

P/E

EV/EBITDA

EV/EBIT

P/S

Revenue Growth

Market Cap

YMM.N

Full Truck Alliance Co Ltd

Manhattan Associates Inc

Performance Decomposition

Market capitalization of YMM increased by 78.48% over the past 1 year. The primary factor behind the change was an increase in P/E Change from 17.58 to 23.36.

The secondary factor is the Margin Expansion, contributed 28.41%to the performance.

Overall, the performance of YMM in the past 1 year is driven by P/E Change. Which is more unsustainable.

17.18%

2.76B → 3.24B

Revenue Growth

28.41%

30.41 → 39.05

Margin Expansion

32.89%

17.58 → 23.36

P/E Change

78.48%