FULL TRUCK ALLIANCE CO. LTD. |
Market Closed -
Other stock markets
|
Pre-market 08:21:24 am | |||
| 8.77 USD | +4.78% |
|
8.75 | -0.23% |
| Mar. 13 | Sector Update: Tech Stocks Fall Wednesday Afternoon | MT |
| Mar. 13 | Full Truck Alliance Rallies After Extending $300 Million Share Repurchase Program | MT |
Valuation
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 57,731 | 61,159 | 53,256 | 66,458 | - | - |
| Enterprise Value (EV) 1 | 31,755 | 61,159 | 34,853 | 43,626 | 39,713 | 34,381 |
| P/E ratio | -9.78 x | 145 x | 23.8 x | 22.7 x | 17.9 x | 12.3 x |
| Yield | - | - | - | - | - | - |
| Capitalization / Revenue | 12.4 x | 9.08 x | 6.31 x | 6.33 x | 5.2 x | 4.31 x |
| EV / Revenue | 6.82 x | 9.08 x | 4.13 x | 4.16 x | 3.11 x | 2.23 x |
| EV / EBITDA | 115 x | - | - | 16.4 x | 9.66 x | 6.59 x |
| EV / FCF | -125 x | - | 16.1 x | 15.4 x | 9.97 x | 6.34 x |
| FCF Yield | -0.8% | - | 6.22% | 6.5% | 10% | 15.8% |
| Price to Book | 1.14 x | - | 1.48 x | 1.74 x | 1.58 x | 1.37 x |
| Nbr of stocks (in thousands) | 1,085,846 | 1,108,401 | 1,070,421 | 1,045,750 | - | - |
| Reference price 2 | 53.17 | 55.18 | 49.75 | 63.55 | 63.55 | 63.55 |
| Announcement Date | 3/1/22 | 3/8/23 | 3/7/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | - | 4,657 | 6,734 | 8,436 | 10,497 | 12,770 | 15,431 |
| EBITDA 1 | - | 276.2 | - | - | 2,660 | 4,113 | 5,217 |
| EBIT 1 | - | 208.8 | 835.7 | 1,580 | 2,658 | 4,092 | 5,460 |
| Operating Margin | - | 4.48% | 12.41% | 18.73% | 25.33% | 32.04% | 35.38% |
| Earnings before Tax (EBT) 1 | - | -3,640 | 507.9 | 2,334 | 3,195 | 4,050 | 5,654 |
| Net income 1 | -3,470 | -3,654 | 406.8 | 2,213 | 2,977 | 3,839 | 5,145 |
| Net margin | - | -78.47% | 6.04% | 26.23% | 28.36% | 30.07% | 33.35% |
| EPS 2 | - | -5.436 | 0.3800 | 2.090 | 2.801 | 3.549 | 5.183 |
| Free Cash Flow 1 | - | -254.6 | - | 2,169 | 2,836 | 3,984 | 5,422 |
| FCF margin | - | -5.47% | - | 25.71% | 27.02% | 31.2% | 35.13% |
| FCF Conversion (EBITDA) | - | - | - | - | 106.62% | 96.85% | 103.92% |
| FCF Conversion (Net income) | - | - | - | 98.03% | 95.26% | 103.76% | 105.37% |
| Dividend per Share 2 | - | - | - | - | - | - | - |
| Announcement Date | 5/27/21 | 3/1/22 | 3/8/23 | 3/7/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,242 | 1,429 | 1,333 | 1,670 | 1,809 | 1,922 | 1,702 | 2,062 | 2,264 | 2,408 | 2,144 | 2,581 | 2,812 | 3,019 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | -81.12 | 159.1 | 133.2 | 211.3 | 242.8 | 248.4 | 272.4 | 450.7 | 458.5 | 398.8 | 390 | 632.6 | 665.9 | 1,189 |
| Operating Margin | -6.53% | 11.13% | 10% | 12.65% | 13.42% | 12.92% | 16% | 21.86% | 20.25% | 16.56% | 18.19% | 24.51% | 23.68% | 39.37% |
| Earnings before Tax (EBT) 1 | - | - | -187.8 | 15.35 | 470.6 | 209.8 | 430.8 | 635.8 | 672 | - | 221.2 | 346.6 | 436.3 | 452.5 |
| Net income 1 | - | -1,321 | -192 | 11.41 | 393.5 | 193.8 | - | 605.5 | 614.4 | 584.1 | 517 | - | - | - |
| Net margin | - | -92.42% | -14.41% | 0.68% | 21.76% | 10.08% | - | 29.37% | 27.14% | 24.26% | 24.11% | - | - | - |
| EPS 2 | - | - | -0.1800 | 0.0100 | 0.3700 | 0.1800 | 0.3800 | 0.5700 | 0.5800 | - | 0.2000 | 0.3100 | 0.3900 | 0.4000 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/18/21 | 3/1/22 | 6/8/22 | 8/25/22 | 11/23/22 | 3/8/23 | 5/22/23 | 8/23/23 | 11/20/23 | 3/7/24 | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - |
| Net Cash position 1 | - | 25,976 | - | 18,403 | 22,832 | 26,745 | 32,077 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - |
| Free Cash Flow 1 | - | -255 | - | 2,169 | 2,836 | 3,984 | 5,422 |
| ROE (net income / shareholders' equity) | - | 3.92% | - | 6.39% | 8.49% | 10.2% | 11.2% |
| ROA (Net income/ Total Assets) | - | 1.51% | - | 5.82% | 7.53% | 8.88% | 10.2% |
| Assets 1 | - | -241,473 | - | 38,022 | 39,550 | 43,240 | 50,205 |
| Book Value Per Share 2 | - | 46.80 | - | 33.70 | 36.40 | 40.10 | 46.20 |
| Cash Flow per Share 2 | - | -0.3100 | - | 2.150 | 6.710 | 1.310 | - |
| Capex 1 | - | 43.2 | - | 100 | 115 | 164 | 205 |
| Capex / Sales | - | 0.93% | - | 1.19% | 1.1% | 1.28% | 1.33% |
| Announcement Date | 5/27/21 | 3/1/22 | 3/8/23 | 3/7/24 | - | - | - |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
BUY
Number of Analysts
11
Last Close Price
63.55
CNY
Average target price
73.37
CNY
Spread / Average Target
+15.46%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +25.11% | 9.17B | |
| +8.05% | 3,020B | |
| +5.58% | 82.93B | |
| +3.69% | 76.85B | |
| -14.80% | 53.04B | |
| +31.16% | 50.15B | |
| -24.56% | 46.71B | |
| +17.75% | 41.41B | |
| +55.21% | 36.1B | |
| -10.24% | 24.64B |
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- Financials Full Truck Alliance Co. Ltd.
