Full Truck Alliance Q2 2026: Revenue Up 4.4%, Net Income Up 6.3%, Declares US$0.084/ADS Dividend
YMM sits 19% above its 52-week low of $7.455.
Summary
Full Truck Alliance reported Q2 2026 revenue of RMB3.38B (+4.4% YoY) and net income of RMB1.35B (+6.3% YoY), declared a US$0.084/ADS quarterly dividend, and guided Q3 revenue to RMB3.32B–RMB3.42B.
Key Events · Earnings and Guidance · YMM
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Q2 Revenue and Profit Growth
Total net revenues rose 4.4% YoY to RMB3,381.6M (US$498.4M); net income increased 6.3% to RMB1,345.1M (US$198.2M).
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Transaction Services Drive Growth
Transaction service revenue jumped 33.1% to RMB1,766.4M, now 52.2% of total revenues, offsetting a decline in freight brokerage revenue.
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Quarterly Dividend Declared
Board approved US$0.0840 per ADS dividend (~US$87.5M total), payable October 28, 2026 to holders of record October 14, 2026.
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Q3 2026 Revenue Guidance
Company expects Q3 2026 total net revenues between RMB3.32B and RMB3.42B, compared with RMB3.36B in Q3 2025.
Analysis · YMM · Technology
Full Truck Alliance delivered steady Q2 2026 growth with net revenues up 4.4% to RMB3.38B and net income up 6.3% to RMB1.35B. Transaction service revenue surged 33.1% to RMB1.77B, now 52.2% of total revenues, while freight brokerage revenue declined. The company declared a quarterly dividend of US$0.084 per ADS (~US$87.5M total), payable October 28, 2026, and guided Q3 revenues to RMB3.32B–RMB3.42B, roughly flat to slightly up versus Q3 2025. The NPL ratio rose to 3.8% from 2.9% at year-end, reflecting credit quality pressure in the value-added services segment. With RMB33.4B in cash and strong operating cash flow of RMB2.15B, the company maintains ample liquidity to fund new initiatives and shareholder returns.
At the time of this filing, YMM was trading at $8.90 on NYSE in the Technology sector, with a market capitalization of approximately $9.1B. The 52-week trading range was $7.46 to $14.07. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.