Full Truck Alliance Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	12,490	11,239	8,436	6,734	4,657
Revenue Growth (YoY)	11.13%	33.22%	25.28%	44.59%	80.45%
Cost of Revenue	4,619	5,101	4,119	3,515	2,540
Gross Profit	7,871	6,138	4,317	3,219	2,117
Selling, General & Admin	2,458	2,511	2,177	2,320	5,108
Research & Development	874.44	880.02	946.64	914.15	729.67
Other Operating Expenses	445.35	296.53	234.6	194.27	97.66
Total Operating Expenses	3,777	3,687	3,358	3,429	5,936
Operating Income	4,146	2,475	997.43	-162	-3,796
Interest Income	1,034	1,125	1,195	487.82	251.65
Interest Expense	-	-	-	-0.18	-0.04
Other Non-Operating Income (Expense)	208.05	-237.49	141.05	182.29	-96
Total Non-Operating Income (Expense)	1,242	887.87	1,336	669.94	155.61
Pretax Income	5,388	3,363	2,334	507.94	-3,640
Provision for Income Taxes	929.16	239.41	106.8	96.04	14.19
Net Income	4,408	3,070	2,213	406.76	-4,173
Minority Interest in Earnings	50.91	53.59	14.21	5.14	-0.08
Net Income Attributable to Preferred Dividends	-	-	-	-	518.43
Net Income to Common	4,408	3,070	2,213	406.76	-4,173
Net Income Growth	43.60%	38.73%	444.03%	-	-
Shares Outstanding (Basic)	1,042	1,041	1,056	1,076	672
Shares Outstanding (Diluted)	1,046	1,045	1,058	1,079	672
Shares Change (YoY)	0.12%	-1.23%	-1.93%	60.49%	292.74%
EPS (Basic)	4.20	3.00	2.00	0.40	-6.20
EPS (Diluted)	4.20	3.00	2.00	0.40	-6.20
EPS Growth	40.00%	50.00%	400.00%	-	-
Shares Outstanding	1,039	1,038	1,032	1,062	1,091
Free Cash Flow	4,497	2,895	2,169	-101.21	-254.64
Free Cash Flow Growth	55.33%	33.46%	-	-	-
Free Cash Flow Per Share	4.30	2.77	2.05	-0.09	-0.38
Dividends Per Share	0.671	0.701	1.021	-	-
Dividend Growth	-4.17%	-31.38%	-	-	-
Gross Margin	63.02%	54.62%	51.17%	47.81%	45.46%
Operating Margin	33.20%	22.02%	11.82%	-2.41%	-81.51%
Profit Margin	35.70%	27.79%	26.40%	6.12%	-78.47%
FCF Margin	36.01%	25.76%	25.71%	-1.50%	-5.47%
EBITDA	4,246	2,553	1,072	-73.66	-3,729
EBITDA Margin	34.00%	22.72%	12.71%	-1.09%	-80.06%
EBIT	4,146	2,475	997.43	-162	-3,796
EBIT Margin	33.20%	22.02%	11.82%	-2.41%	-81.51%
Effective Tax Rate	17.24%	7.12%	4.58%	18.91%	-0.39%

Updated Mar 13, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q