VNET Group Financials

VNET Stock

USD 10.51 -0.06 -0.57%

VNET Group DRC reflects a mix of operating scale and capital structure considerations. Operating returns remain positive, suggesting ongoing earnings capacity. Earnings quality, debt coverage, and cash generation are the primary financial strength indicators for VNET Group. Cost Of Revenue is advancing compared to historical levels. VNET Group reported 7.39 Billion in Cost Of Revenue for the previous period. As of March 15th, 2026, Income Before Tax is estimated to rise to approximately 456.1 M, whereas Research Development is moving lower toward slightly above 146.1 M.

Cash Flow Balance Sheet Income Statement

Macro event markers

Credit Downgrade

Yuan Drop

Covid

Interest Hikes

VNET Group Balance Sheet Account Activities

Non Current Assets Total are advancing compared to historical levels. VNET Group reported 29.37 Billion in Non Current Assets Total for the previous period. As of March 15th, 2026, Cash And Short Term Investments is estimated to rise to approximately 2.6 B, whereas Cash is moving lower toward slightly above 2.1 B.

Total Assets Short Long Term Debt Total Other Current Liab Total Current Liabilities

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Key indicators impacting VNET Group's financial strength

Current Value

Last Year

Change From Last Year

10 Year Trend

Debt-to-Equity Ratio

2.74

2.61

Sufficiently Up

Slightly volatile

Current Ratio

0.8

0.84

Sufficiently Down

Slightly volatile

Net Receivables

4.1 B

3.9 B

Sufficiently Up

Slightly volatile

Total Revenue

10 B

9.5 B

Sufficiently Up

Slightly volatile

Total Assets

39.1 B

37.2 B

Sufficiently Up

Slightly volatile

A sound understanding of VNET Group's financial health begins with its balance sheet: how much cash it holds, what liabilities it owes, and whether its equity cushion is growing or eroding over time. Latest disclosures for VNET Group DRC show $23.84 in Cash Per Share, $-12.85 in Free Cash Flow Per Share, and a Cash Ratio of 0.24.

Net Income

173.12 Million

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The reliability of VNET Group's financial statements depends on the integrity of management and the diligence of external auditors. Verify VNET Group's earnings quality using forensic accounting tools available on this platform.

VNET Group Stock Summary

VNET Group competes with C3 Ai, Globant SA, Innodata, CLARIVATE PLC, and DXC Technology. VNET Group, Inc., an investment holding company, provides hosting and related services in China. VNET Group, Inc. was founded in 1999 and is headquartered in Beijing, the Peoples Republic of China. Vnet operates under Information Technology Services classification in the United States and is traded on NASDAQ Exchange. It employs 3221 people.

Specialization	Information Technology, Information Technology Services
Instrument	USA Stock View All
Exchange	NASDAQ Exchange
ISIN	US90138A1034
Business Address	Guanjie Building, Beijing,
Sector	IT Services
Industry	Information Technology
Benchmark	Dow Jones Industrial
Website	www.vnet.com
Phone	86 10 8456 2121
Currency	USD - US Dollar

Key Financial Ratios

	Return On Equity	-0.0658
	Profit Margin	-0.06 %
	Operating Margin	0.08 %
	Price To Sales	0.30 X
	Revenue	8.26 B

More Fundamentals

Key Balance Sheet Accounts

VNET Group holds 3.53 B in cash and equivalents, a figure that shapes the company's ability to invest, acquire, or weather downturns. Reviewing the full balance sheet adds context to that headline number and reveals the broader financial picture.

	2021	2022	2023	2024	2025	2026 (projected)
Total Assets	23.1B	26.6B	30.4B	32.4B	37.2B	39.1B
Other Current Liab	2.1B	2.4B	2.8B	3.6B	4.1B	4.3B
Net Debt	9.6B	11.6B	12.4B	16.4B	18.9B	19.8B
Retained Earnings	-7.6B	-8.2B	-11.0B	-10.9B	-9.8B	-9.3B
Accounts Payable	492.9M	703.4M	695.4M	709.2M	815.6M	856.4M
Cash	1.7B	2.9B	5.1B	2.0B	2.3B	2.1B
Net Receivables	2.6B	2.9B	2.9B	3.4B	3.9B	4.1B
Other Current Assets	1.1B	1.1B	1.5B	1.4B	1.6B	1.7B
Total Liab	15.5B	19.7B	23.7B	25.2B	28.9B	30.4B
Total Current Assets	5.3B	7.0B	9.8B	6.8B	7.8B	4.8B
Short Term Debt	1.4B	1.9B	6.2B	3.5B	4.0B	4.2B
Intangible Assets	899.3M	1.5B	1.4B	1.4B	1.6B	1.7B
Common Stock	59.9K	59.1K	106.9K	112.0K	128.8K	135.2K
Other Liab	956.8M	1.1B	428.3M	772.4M	888.3M	932.7M
Other Assets	577.4M	1.8B	2.1B	748.2M	860.4M	571.7M
Long Term Debt	6.5B	8.9B	6.9B	9.7B	11.1B	11.7B
Inventory	327.8M	327.7M	-2.5M	96.2M	110.6M	153.5M
Net Tangible Assets	3.3B	3.6B	4.7B	3.2B	3.6B	2.8B
Short Long Term Debt	384.2M	1.0B	5.0B	2.0B	2.3B	1.6B

Key Income Statement Accounts

Operating margin isolates how well a company runs its core business before financing and tax effects. At 7.97%, VNET Group's operating margin reflects the efficiency of day-to-day operations. The full income breakdown follows.

	2021	2022	2023	2024	2025	2026 (projected)
Interest Expense	335.0M	273.3M	312.2M	401.0M	461.1M	484.2M
Total Revenue	6.2B	7.2B	7.4B	8.3B	9.5B	10.0B
Gross Profit	1.4B	1.3B	1.3B	1.8B	2.1B	2.2B
Operating Income	21.3M	62.2M	-2.0B	669.4M	602.5M	632.6M
Ebit	1.0B	62.2M	-2.2B	669.4M	602.5M	632.6M
Research Development	188.5M	306.8M	322.2M	246.6M	283.6M	146.1M
Ebitda	2.3B	1.7B	-366.6M	2.2B	2.5B	2.7B
Cost Of Revenue	4.8B	5.9B	6.1B	6.4B	7.4B	7.8B
Income Before Tax	626.5M	-639.6M	-2.5B	482.7M	434.4M	456.1M
Net Income	500.1M	-789.6M	-2.6B	183.2M	164.9M	173.1M
Income Tax Expense	111.4M	135.8M	114.4M	234.2M	269.4M	282.8M
Minority Interest	-15.0M	-14.0M	-34.0M	-65.2M	-75.0M	-71.3M
Tax Provision	111.4M	133.5M	63.8M	234.2M	269.4M	282.8M
Interest Income	31.9M	31.6M	37.4M	28.0M	25.2M	32.8M
Net Interest Income	-303.1M	-241.7M	-268.9M	-373.0M	-335.7M	-352.5M

Key Cash Accounts

A company that consistently converts profits into cash is one that investors can trust. VNET Group's operating cash flow of 2.01 B anchors that assessment. The detailed cash accounts below show how that cash is generated and deployed.

	2021	2022	2023	2024	2025	2026 (projected)
Change In Cash	-1.4B	1.3B	2.1B	-3.0B	-2.7B	-2.6B
Free Cash Flow	-1.3B	-450.6M	-997.1M	-3.1B	-2.8B	-2.7B
Depreciation	1.3B	1.6B	1.8B	1.6B	1.8B	1.9B
Other Non Cash Items	-208.1M	1.0B	3.1B	319.4M	367.3M	582.6M
Capital Expenditures	2.7B	3.1B	3.1B	5.1B	5.9B	6.2B
Net Income	515.1M	-762.0M	-2.6B	248.4M	223.6M	234.8M
End Period Cash Flow	1.7B	3.0B	5.1B	2.1B	2.4B	1.9B
Change To Netincome	128.3M	2.9B	115.8M	1.2B	1.4B	1.5B
Investments	-3.8B	-3.6B	-3.8B	-4.4B	-4.0B	-3.8B
Net Borrowings	2.7B	2.3B	1.8B	-535.2M	-615.5M	-584.7M

Financial Ratios Relationships

Comparative market metrics assess VNET Group's pricing relative to peers. Cross-referencing VNET Group's key ratios against peer benchmarks through ratio comparison sharpens the view on relative valuation and competitive positioning. More Info.

VNET Group DRC maintains a fourth standing in return on equity relative to competitors. It maintains a fifth standing in return on asset relative to competitors . Return On Equity is advancing compared to historical levels. VNET Group reported 0.03 in Return On Equity for the previous period. Comparative pricing ratios position VNET Group within industry norms.

Core Fundamental Drivers

Most fundamental indicators are closely connected. Combined analysis offers stronger insight into VNET Group DRC's financial health. VNET Group DRC currently reports revenue of 8.26 B, P/E of 43.99, profit margin of -5.97%. VNET Group has a market cap of 2.83 B, operating margin of 7.97%, ROE of -6.58%. Use World Market Map to explore allocation context. This includes a position in VNET Group DRC in the portfolio view. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in discontinued.

Tax Provision is advancing compared to historical levels. VNET Group reported 269.36 Million in Tax Provision for the previous period. As of March 15th, 2026, Sales General And Administrative To Revenue is estimated to rise to 0.15, whereas Selling General Administrative is moving lower toward slightly above 484.1 M.

	2023	2024	2025	2026 (projected)
Interest Expense	312.2M	401.0M	461.1M	484.2M
Depreciation And Amortization	1.8B	1.5B	1.8B	1.9B

Interest Expense Depreciation And Amortization

Financial Account Correlations

	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Property Plant And Equipment Net	Current Deferred Revenue	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Cash And Short Term Investments	Net Receivables	Good Will	Common Stock Total Equity	Common Stock Shares Outstanding	Non Current Liabilities Total	Other Current Assets	Other Stockholder Equity	Total Liab	Property Plant And Equipment Gross	Total Current Assets	Short Term Debt	Intangible Assets	Common Stock
Total Assets		0.99	0.98	0.97	0.75	0.99	0.96	0.97	-0.95	0.93	0.57	0.99	0.47	1.0	-0.27	0.76	0.93	0.98	0.97	0.98	0.99	0.96	0.81	0.85	0.82	0.96
Short Long Term Debt Total	0.99		0.99	0.96	0.67	0.99	0.94	0.99	-0.95	0.91	0.51	0.99	0.41	0.98	-0.37	0.68	0.92	0.99	0.96	0.95	1.0	0.98	0.77	0.85	0.81	0.96
Other Current Liab	0.98	0.99		0.95	0.65	0.99	0.91	0.99	-0.91	0.91	0.43	0.99	0.33	0.98	-0.34	0.65	0.95	0.98	0.94	0.93	0.99	0.99	0.71	0.82	0.84	0.96
Total Current Liabilities	0.97	0.96	0.95		0.7	0.95	0.95	0.93	-0.94	0.9	0.64	0.95	0.55	0.95	-0.32	0.71	0.87	0.92	0.94	0.93	0.97	0.95	0.83	0.95	0.81	0.96
Total Stockholder Equity	0.75	0.67	0.65	0.7		0.67	0.79	0.59	-0.78	0.73	0.74	0.72	0.62	0.76	0.19	0.97	0.63	0.66	0.76	0.84	0.68	0.6	0.87	0.62	0.56	0.67
Property Plant And Equipment Net	0.99	0.99	0.99	0.95	0.67		0.93	0.99	-0.94	0.89	0.45	0.99	0.35	0.98	-0.38	0.68	0.95	0.99	0.96	0.95	0.99	0.99	0.73	0.82	0.79	0.96
Current Deferred Revenue	0.96	0.94	0.91	0.95	0.79	0.93		0.9	-0.95	0.86	0.66	0.94	0.55	0.95	-0.24	0.8	0.85	0.92	0.99	0.96	0.95	0.91	0.86	0.87	0.72	0.92
Net Debt	0.97	0.99	0.99	0.93	0.59	0.99	0.9		-0.91	0.87	0.38	0.98	0.28	0.96	-0.41	0.61	0.93	0.99	0.93	0.91	0.99	0.98	0.68	0.79	0.8	0.94
Retained Earnings	-0.95	-0.95	-0.91	-0.94	-0.78	-0.94	-0.95	-0.91		-0.83	-0.63	-0.94	-0.51	-0.93	0.33	-0.8	-0.83	-0.93	-0.96	-0.95	-0.95	-0.91	-0.86	-0.86	-0.7	-0.91
Accounts Payable	0.93	0.91	0.91	0.9	0.73	0.89	0.86	0.87	-0.83		0.6	0.92	0.5	0.94	-0.05	0.7	0.85	0.89	0.84	0.89	0.91	0.88	0.78	0.78	0.92	0.88
Cash	0.57	0.51	0.43	0.64	0.74	0.45	0.66	0.38	-0.63	0.6		0.49	0.96	0.55	0.09	0.74	0.34	0.43	0.59	0.63	0.52	0.43	0.88	0.73	0.45	0.54
Non Current Assets Total	0.99	0.99	0.99	0.95	0.72	0.99	0.94	0.98	-0.94	0.92	0.49		0.38	0.99	-0.29	0.72	0.94	0.99	0.96	0.96	0.99	0.97	0.76	0.82	0.83	0.96
Cash And Short Term Investments	0.47	0.41	0.33	0.55	0.62	0.35	0.55	0.28	-0.51	0.5	0.96	0.38		0.44	0.09	0.63	0.26	0.33	0.47	0.53	0.42	0.34	0.81	0.67	0.38	0.46
Net Receivables	1.0	0.98	0.98	0.95	0.76	0.98	0.95	0.96	-0.93	0.94	0.55	0.99	0.44		-0.23	0.75	0.93	0.98	0.96	0.97	0.99	0.96	0.8	0.82	0.83	0.95
Good Will	-0.27	-0.37	-0.34	-0.32	0.19	-0.38	-0.24	-0.41	0.33	-0.05	0.09	-0.29	0.09	-0.23		0.09	-0.38	-0.35	-0.34	-0.22	-0.35	-0.47	-0.06	-0.33	0.08	-0.42
Common Stock Total Equity	0.76	0.68	0.65	0.71	0.97	0.68	0.8	0.61	-0.8	0.7	0.74	0.72	0.63	0.75	0.09		0.63	0.67	0.78	0.84	0.7	0.62	0.9	0.64	0.54	0.69
Common Stock Shares Outstanding	0.93	0.92	0.95	0.87	0.63	0.95	0.85	0.93	-0.83	0.85	0.34	0.94	0.26	0.93	-0.38	0.63		0.93	0.89	0.9	0.92	0.96	0.62	0.71	0.73	0.96
Non Current Liabilities Total	0.98	0.99	0.98	0.92	0.66	0.99	0.92	0.99	-0.93	0.89	0.43	0.99	0.33	0.98	-0.35	0.67	0.93		0.95	0.94	0.99	0.97	0.73	0.77	0.8	0.94
Other Current Assets	0.97	0.96	0.94	0.94	0.76	0.96	0.99	0.93	-0.96	0.84	0.59	0.96	0.47	0.96	-0.34	0.78	0.89	0.95		0.97	0.96	0.93	0.82	0.84	0.69	0.94
Other Stockholder Equity	0.98	0.95	0.93	0.93	0.84	0.95	0.96	0.91	-0.95	0.89	0.63	0.96	0.53	0.97	-0.22	0.84	0.9	0.94	0.97		0.95	0.92	0.84	0.82	0.74	0.95
Total Liab	0.99	1.0	0.99	0.97	0.68	0.99	0.95	0.99	-0.95	0.91	0.52	0.99	0.42	0.99	-0.35	0.7	0.92	0.99	0.96	0.95		0.98	0.78	0.86	0.82	0.96
Property Plant And Equipment Gross	0.96	0.98	0.99	0.95	0.6	0.99	0.91	0.98	-0.91	0.88	0.43	0.97	0.34	0.96	-0.47	0.62	0.96	0.97	0.93	0.92	0.98		0.7	0.84	0.77	0.98
Total Current Assets	0.81	0.77	0.71	0.83	0.87	0.73	0.86	0.68	-0.86	0.78	0.88	0.76	0.81	0.8	-0.06	0.9	0.62	0.73	0.82	0.84	0.78	0.7		0.83	0.64	0.76
Short Term Debt	0.85	0.85	0.82	0.95	0.62	0.82	0.87	0.79	-0.86	0.78	0.73	0.82	0.67	0.82	-0.33	0.64	0.71	0.77	0.84	0.82	0.86	0.84	0.83		0.71	0.86
Intangible Assets	0.82	0.81	0.84	0.81	0.56	0.79	0.72	0.8	-0.7	0.92	0.45	0.83	0.38	0.83	0.08	0.54	0.73	0.8	0.69	0.74	0.82	0.77	0.64	0.71		0.75
Common Stock	0.96	0.96	0.96	0.96	0.67	0.96	0.92	0.94	-0.91	0.88	0.54	0.96	0.46	0.95	-0.42	0.69	0.96	0.94	0.94	0.95	0.96	0.98	0.76	0.86	0.75

Click cells to compare fundamentals

Account Relationship Matchups

fundamental Accounts

	2021	2022	2023	2024	2025	2026 (projected)
Total Assets	23.1B	26.6B	30.4B	32.4B	37.2B	39.1B
Other Current Liab	2.1B	2.4B	2.8B	3.6B	4.1B	4.3B
Net Debt	9.6B	11.6B	12.4B	16.4B	18.9B	19.8B
Retained Earnings	-7.6B	-8.2B	-11.0B	-10.9B	-9.8B	-9.3B
Accounts Payable	492.9M	703.4M	695.4M	709.2M	815.6M	856.4M
Cash	1.7B	2.9B	5.1B	2.0B	2.3B	2.1B
Net Receivables	2.6B	2.9B	2.9B	3.4B	3.9B	4.1B
Other Current Assets	1.1B	1.1B	1.5B	1.4B	1.6B	1.7B
Total Liab	15.5B	19.7B	23.7B	25.2B	28.9B	30.4B
Total Current Assets	5.3B	7.0B	9.8B	6.8B	7.8B	4.8B
Short Term Debt	1.4B	1.9B	6.2B	3.5B	4.0B	4.2B
Intangible Assets	899.3M	1.5B	1.4B	1.4B	1.6B	1.7B
Common Stock	59.9K	59.1K	106.9K	112.0K	128.8K	135.2K
Other Liab	956.8M	1.1B	428.3M	772.4M	888.3M	932.7M
Other Assets	577.4M	1.8B	2.1B	748.2M	860.4M	571.7M
Long Term Debt	6.5B	8.9B	6.9B	9.7B	11.1B	11.7B
Inventory	327.8M	327.7M	-2.5M	96.2M	110.6M	153.5M
Net Tangible Assets	3.3B	3.6B	4.7B	3.2B	3.6B	2.8B
Short Long Term Debt	384.2M	1.0B	5.0B	2.0B	2.3B	1.6B

Financial Metrics, Fundamentals & Methodology

VNET Group reports annual revenue of 8.26 B, a profit margin of -5.97%, ROE of -6.58%, debt-to-equity of 2.16. Long-term financial strength of VNET Group depends on its ability to manage growth and leverage cycles. Balance-sheet composition highlights financial flexibility and solvency profile. VNET Group reports a balance of revenue of 8.26 B, EPS loss of 0.31, operating margin of 7.97%.

This section for VNET Group DRC is built from periodic company reporting and market reference feeds, with harmonization applied to align reporting definitions. Values may update on different source schedules. Accounting-line values follow GAAP or IFRS structures as published in issuer filings.

This content is curated and reviewed by:

Rifka Kats - Member of Macroaxis Editorial Board

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VNET Group Financials

VNET Group Balance Sheet Account Activities

Key indicators impacting VNET Group's financial strength

Net Income

VNET Group Stock Summary

Key Financial Ratios

Key Balance Sheet Accounts

Key Income Statement Accounts

Key Cash Accounts

Financial Ratios Relationships

Core Fundamental Drivers

Financial Account Correlations

Account Relationship Matchups

High Positive Relationship

High Negative Relationship

fundamental Accounts

Financial Metrics, Fundamentals & Methodology

This content is curated and reviewed by:

Additional Tools for VNET Stock Analysis

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Net Receivables	+ 1.0	Total Assets
Total Liab	+ 1.0	Short Long Term Debt Total
Short Long Term Debt Total	+ 0.99	Total Assets
Property Plant And Equipment Net	+ 0.99	Total Assets
Non Current Assets Total	+ 0.99	Total Assets
Total Liab	+ 0.99	Total Assets

Other Current Assets	- 0.96	Retained Earnings
Total Liab	- 0.95	Retained Earnings
Other Stockholder Equity	- 0.95	Retained Earnings
Retained Earnings	- 0.95	Current Deferred Revenue
Retained Earnings	- 0.95	Short Long Term Debt Total
Retained Earnings	- 0.95	Total Assets