Full Truck Alliance CoYMM -3.46%77 Gross Margin % is 72.68% as of Mar. 2026, which is 48% above its 10-year median of 49.01. GuruFocus rates YMM with a GF Score™ of 77/100 and a GF Value™ of $11.53 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 2,683 Software companies, Full Truck Alliance Co ranks better than 73.05% on this metric.
YMM's Gross Margin % is ranked better than 73.05% of 2683
companies
in the Software industry
Industry Median: 40.45
vs YMM: 62.94
Full Truck Alliance Co had a gross margin of 72.68% for the quarter that ended in Mar. 2026 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Full Truck Alliance Co was 5.50% per year.
Full Truck Alliance Co (NYSE:YMM) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Full Truck Alliance Co had a gross margin of 72.68% for the quarter that ended in Mar. 2026 => Durable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Full Truck Alliance Co Gross Margin % Related Terms
Full Truck Alliance Co Gross Margin % Historical Data
* Premium members only.
The historical data trend for Full Truck Alliance Co's Gross Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Software - Application subindustry, Full Truck Alliance Co's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Full Truck Alliance Co Gross Margin % vs Software Industry
For the Software industry and Technology sector, Full Truck Alliance Co's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Full Truck Alliance Co's Gross Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Full Truck Alliance Co (YMM) has a Gross Margin % of 72.68% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Full Truck Alliance Co and its competitors. This is 48% above median its historical median of 49.01. Over the past decade, Full Truck Alliance Co's Gross Margin % has ranged from 43.80 to 63.02. According to the industry distribution chart, Full Truck Alliance Co ranks #723 out of 2683 companies in the Software industry, placing it in the top 26.9%.
Is Full Truck Alliance Co's Gross Margin % too high?
Full Truck Alliance Co's current Gross Margin % of 72.68% is 48% above median its 10-year median of 49.01. Over the past 10 years, this metric has ranged from a low of 43.80 to a high of 63.02. The Software industry median Gross Margin % is 40.45. Full Truck Alliance Co's value of 72.68% is 79.7% above this industry median. Based on the distribution chart, Full Truck Alliance Co ranks #723 out of 2683 companies in the Software industry, which is above the industry midpoint. Overall, Full Truck Alliance Co has a GF Score™ of 77/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Full Truck Alliance Co's Gross Margin % compare to CRM and SHOP?
According to the Software industry distribution chart, Full Truck Alliance Co ranks #723 out of 2683 companies for Gross Margin %. This puts Full Truck Alliance Co in the upper half of its industry. The industry median Gross Margin % is 40.45. Full Truck Alliance Co's value of 72.68% is 79.7% above this benchmark. Historically, Full Truck Alliance Co's own Gross Margin % has ranged from 43.80 to 63.02 over the past decade. While the company's 10-year median is 49.01 vs. the industry median of 40.45, Full Truck Alliance Co has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for a Software company?
The median Gross Margin % among Software companies is 40.45, based on 2,683 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Full Truck Alliance Co's current Gross Margin % of 72.68% is 79.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Full Truck Alliance Co and its competitors. For the Software industry, the median Gross Margin % is 40.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Full Truck Alliance Co's current Gross Margin % is 72.68%, which is 48% above median its own 10-year median of 49.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Full Truck Alliance Co stock overvalued right now?
Based on GuruFocus' analysis, Full Truck Alliance Co (YMM) is currently considered Significantly Undervalued. The stock's GF Value™ is $11.53, compared to a current price of $7.54 — trading 34.6% below its estimated fair value. The current Gross Margin % is 72.68%, which is 48% above median its 10-year median of 49.01 and 79.7% above the Software industry median of 40.45. Full Truck Alliance Co's overall GF Score™ is 77/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Full Truck Alliance Co (YMM), the current Gross Margin % is 72.68% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Full Truck Alliance Co (YMM) Overvalued in 2026?
Based on GuruFocus' analysis, Full Truck Alliance Co stock appears to be undervalued.
The current stock price of $7.54 is trading 34.6% below its estimated GF Value™ of $11.53.
GuruFocus considers Full Truck Alliance Co to be Significantly Undervalued.
Key valuation signals for YMM:
Gross Margin %: 72.68% (48% above median its 10-year median of 49.01)
GF Value™: $11.53 vs. price of $7.54 (34.6% below fair value)
Industry Position: 79.7% above the Software median (#723 of 2683)
No single metric tells the full story. See the YMM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Full Truck Alliance Co Ltd, through its subsidiaries, provides comprehensive services for shippers and truckers through its mobile and website platforms. Its principal operations are in the People's Republic of China. The group derives its revenues principally from shippers and trucker's use of its platforms in connection with freight matching services and value-added services.
77GF Score
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