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VNET Group (VNET) Financials

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$8.46 -0.02 (-0.18%)
As of 02:47 PM Eastern
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Annual Income Statements for VNET Group

Annual Income Statements for VNET Group

This table shows VNET Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 28 -91 -119 -30 -26 -417 78 -113 -372 23 -37
Consolidated Net Income / (Loss)		 -61 -134 -141 -27 -26 -412 81 -110 -366 34 -19
Net Income / (Loss) Continuing Operations		 32 -134 -141 -27 -26 -412 81 -110 -366 34 -19
Total Pre-Tax Income 		-62 -140 -163 3.54 -18 -397 104 -91 -350 65 60
Total Operating Income		 -43 -120 -210 35 26 18 3.34 18 -278 92 112
Total Gross Profit		 130 102 116 138 135 165 226 197 182 251 314
Total Revenue		 914 522 521 495 544 743 971 1,024 1,044 1,131 1,423
Operating Revenue		 914 522 521 495 544 743 971 1,024 1,044 1,131 1,423
Total Cost of Revenue		 691 420 404 357 409 578 749 833 914 895 1,124
Operating Cost of Revenue		 691 420 - 357 409 577 746 827 862 880 1,109
Other Cost of Revenue		 - - - -0.09 0.22 0.37 2.89 5.13 52 15 15
Total Operating Expenses		 173 223 326 103 101 147 219 174 408 145 187
Selling, General & Admin Expense		 87 92 80 67 60 82 132 93 76 90 114
Marketing Expense		 55 51 39 25 30 36 40 45 37 36 40
Research & Development Expense		 22 21 23 13 13 17 30 44 45 34 37
Other Operating Expenses / (Income)		 3.60 16 4.91 -0.73 -0.99 -1.17 0.00 -8.70 -15 -16 -3.97
Impairment Charge		 0.00 56 179 0.00 0.00 13 18 0.00 264 0.00 0.00
Total Other Income / (Expense), net		 -19 -20 47 -31 -52 -415 101 -109 -73 -27 -52
Interest Expense		 42 33 28 34 52 59 53 40 44 17 80
Interest & Investment Income		 8.14 3.02 1.94 6.58 7.84 2.87 4.46 4.58 4.31 0.00 67
Other Income / (Expense), net		 15 9.87 74 -3.24 -7.09 -359 149 -74 -33 -9.30 -39
Income Tax Expense		 7.28 -1.60 -14 3.55 0.78 17 17 19 16 32 80
Other Gains / (Losses), net		 7.97 5.11 8.25 -27 -7.26 1.67 -6.07 0.28 0.46 1.09 0.98
Preferred Stock Dividends Declared		 - - - - - - - - 0.00 0.00 0.70
Net Income / (Loss) Attributable to Noncontrolling Interest		 4.08 -43 -22 2.67 0.15 4.47 2.35 2.02 6.57 8.94 17
Basic Earnings per Share		 ($0.85) ($1.37) ($1.36) ($0.30) ($0.27) ($4.47) $0.57 ($0.13) ($0.41) $0.02 ($0.02)
Weighted Average Basic Shares Outstanding		 492.07M 617.17M 672.84M 674.73M 668.83M 716.89M 865.35M 886.82M 901.14M 1.59B 1.61B
Diluted Earnings per Share		 ($0.85) ($1.37) ($1.36) ($0.30) ($0.27) ($4.47) ($0.36) ($0.13) ($0.41) $0.00 ($0.02)
Weighted Average Diluted Shares Outstanding		 492.07M 617.17M 672.84M 674.73M 668.83M 716.89M 911.59M 886.82M 901.14M 1.74B 1.61B
Weighted Average Basic & Diluted Shares Outstanding		 522.51M 679.86M 671.29M 674.36M 679.96M 817.96M 888.14M 890.71M 1.54B 1.61B 1.62B

Quarterly Income Statements for VNET Group

No quarterly income statements for VNET Group are available.

Annual Cash Flow Statements for VNET Group

This table details how cash moves in and out of VNET Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 158 184 -169 68 -44 152 -221 186 297 -413 589
Net Cash From Operating Activities		 33 8.25 75 103 115 110 218 354 291 275 274
Net Cash From Continuing Operating Activities		 33 8.25 75 103 115 110 218 354 291 275 274
Net Income / (Loss) Continuing Operations		 -61 -134 -141 -27 -26 -412 81 -110 -366 34 -19
Consolidated Net Income / (Loss)		 -61 -134 -141 -27 -26 -412 81 -110 -366 34 -19
Depreciation Expense		 61 69 102 92 111 152 199 231 255 219 304
Non-Cash Adjustments To Reconcile Net Income		 30 89 150 46 34 446 -40 65 346 7.11 -1.87
Changes in Operating Assets and Liabilities, net		 -25 -42 -37 -8.76 -3.57 -76 -21 94 56 15 -8.72
Net Cash From Investing Activities		 -56 -121 -128 -44 -231 -598 -592 -516 -550 -602 -1,146
Net Cash From Continuing Investing Activities		 -56 -121 -128 -44 -231 -598 -592 -517 -550 -602 -1,146
Purchase of Property, Plant & Equipment		 -160 -82 -61 -63 -183 -380 -437 -441 -424 -685 -1,095
Acquisitions		 -7.23 -14 -6.75 -4.49 -37 -262 -193 -14 -7.17 -18 -70
Purchase of Investments		 -258 -49 -141 -51 -74 -60 -23 -31 -160 -39 -264
Sale of Property, Plant & Equipment		 0.26 0.01 0.88 2.25 0.36 0.27 1.60 0.89 4.47 38 9.03
Divestitures		 0.00 0.00 -12 0.49 0.00 0.89 0.00 0.04 1.79 0.00 108
Sale and/or Maturity of Investments		 380 18 75 72 57 83 55 0.00 20 76 159
Other Investing Activities, net		 -11 6.21 17 0.06 4.31 20 4.79 -32 14 26 7.16
Net Cash From Financing Activities		 170 274 -94 -2.90 66 640 152 333 555 -86 1,462
Net Cash From Continuing Financing Activities		 170 274 -94 -2.90 66 640 152 333 555 -86 1,462
Repayment of Debt		 -167 -319 -353 -28 -217 -227 -377 -65 -164 -837 -413
Repurchase of Preferred Equity		 0.00 -5.60 0.00 6.22 -1.40 - 0.00 0.00 1.03 0.00 0.00
Repurchase of Common Equity		 -1.22 -20 -21 0.00 -1.70 -22 -267 0.00 -0.26 -4.90 -2.46
Payment of Dividends		 - - - - 0.00 0.00 -0.04 0.00 -1.61 -3.60 -4.90
Issuance of Debt		 59 278 315 17 333 368 885 431 453 778 1,521
Issuance of Common Equity		 275 366 21 29 1.31 416 1.74 0.00 299 2.19 226
Other Financing Activities, net		 3.58 -25 -56 -27 -48 -57 -91 -33 -31 -20 134
Cash Interest Paid		 37 22 15 23 31 44 41 32 35 59 82
Cash Income Taxes Paid		 9.56 7.22 8.45 8.36 5.98 16 13 23 21 29 60

Quarterly Cash Flow Statements for VNET Group

No quarterly cash flow statements for VNET Group are available.

Annual Balance Sheets for VNET Group

This table presents VNET Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 1,652 1,781 1,520 1,623 2,049 2,980 3,624 3,907 4,280 4,433 6,377
Total Current Assets		 528 740 651 681 751 931 835 1,022 1,384 934 1,638
Cash & Equivalents		 257 186 299 343 260 417 215 386 316 204 790
Restricted Cash		 30 282 37 39 69 42 51 48 402 75 94
Short-Term Investments		 16 40 84 36 52 44 - 0.00 50 0.00 54
Note & Lease Receivable		 106 94 70 76 94 130 221 256 242 227 318
Accounts Receivable		 16 26 18 18 43 12 26 22 39 46 61
Prepaid Expenses		 98 111 143 169 232 287 322 311 335 382 321
Plant, Property, & Equipment, net		 556 542 509 587 782 1,247 1,584 1,735 1,834 2,359 3,257
Total Noncurrent Assets		 567 499 360 355 517 802 1,205 1,150 1,062 1,139 1,481
Long-Term Investments		 31 43 78 79 24 21 15 35 107 109 152
Intangible Assets		 194 140 62 52 59 101 141 217 195 192 287
Noncurrent Deferred & Refundable Income Taxes		 7.14 14 27 23 30 29 26 28 35 42 36
Other Noncurrent Operating Assets		 38 45 38 47 249 474 810 672 725 790 1,003
Other Noncurrent Nonoperating Assets		 20 4.81 0.51 5.42 10 21 1.29 0.07 0.12 5.87 3.16
Total Liabilities & Shareholders' Equity		 1,652 1,781 1,520 1,623 2,049 2,980 3,624 3,907 4,280 4,433 6,377
Total Liabilities		 917 799 722 842 1,298 1,919 2,431 2,895 3,362 3,485 5,152
Total Current Liabilities		 429 627 271 319 642 942 813 918 1,611 1,280 1,780
Short-Term Debt		 69 282 49 18 169 332 60 246 699 275 462
Accounts Payable		 134 93 47 64 67 52 79 103 98 97 106
Accrued Expenses		 97 113 101 96 141 251 361 349 392 496 781
Current Deferred Revenue		 81 75 71 107 162 170 173 182 241 202 161
Current Deferred & Payable Income Tax Liabilities		 7.61 3.14 2.04 1.91 6.90 4.46 6.87 6.09 4.96 9.53 22
Other Current Liabilities		 40 60 - 32 95 132 134 31 176 201 248
Total Noncurrent Liabilities		 488 172 452 523 657 977 1,618 1,977 1,725 2,205 3,372
Long-Term Debt		 16 38 29 16 11 600 1,017 1,292 970 1,324 2,391
Capital Lease Obligations		 88 77 92 111 212 205 534 573 624 728 807
Noncurrent Deferred & Payable Income Tax Liabilities		 47 44 32 24 29 57 67 112 111 115 137
Other Noncurrent Operating Liabilities		 322 3.71 299 298 297 0.63 0.36 0.39 20 38 37
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 120 100 - - - - - - - 0.00 245
Total Equity & Noncontrolling Interests		 614 882 798 781 751 1,061 1,193 1,012 918 948 980
Total Preferred & Common Equity		 611 878 775 741 711 1,010 1,136 958 847 872 889
Total Common Equity		 611 878 775 741 711 849 1,136 958 847 872 889
Common Stock		 975 1,293 1,378 1,331 1,321 2,012 2,385 2,210 2,435 2,370 2,483
Retained Earnings		 -340 -411 -557 -559 -580 -1,113 -1,191 -1,214 -1,552 -1,488 -1,591
Treasury Stock		 -29 -29 -52 -49 -50 -54 -55 -51 -46 -22 -26
Accumulated Other Comprehensive Income / (Loss)		 -3.69 17 -0.41 13 11 -8.54 -14 1.60 -2.02 -2.54 6.63
Other Equity Adjustments		 9.62 9.27 5.94 6.17 8.68 11 12 11 11 15 17
Noncontrolling Interest		 2.96 3.70 23 39 40 51 56 54 70 76 91

Quarterly Balance Sheets for VNET Group

No quarterly balance sheets for VNET Group are available.

Annual Metrics And Ratios for VNET Group

This table displays calculated financial ratios and metrics derived from VNET Group's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - - - - - - - 1,622,934,324.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 1,622,934,324.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - -0.02
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 97.62% -42.87% -0.31% -4.91% 9.89% 36.53% 30.78% 5.46% 1.93% 8.37% 25.74%
EBITDA Growth		 26.07% -125.20% -121.23% 463.35% 5.06% -245.69% 285.61% -50.19% -131.96% 638.69% 25.01%
EBIT Growth		 -66.24% -292.47% -23.32% 122.96% -39.11% -1,890.07% 144.66% -136.96% -450.93% 126.54% -11.74%
NOPAT Growth		 -134.64% -178.40% -74.31% 99.91% 13,807.08% -31.46% -77.82% 341.60% -1,680.30% 123.91% -180.77%
Net Income Growth		 -15.67% -118.73% -5.37% 80.70% 4.26% -1,484.15% 119.61% -236.68% -231.11% 109.30% -156.06%
EPS Growth		 4.49% -61.18% 0.73% 77.94% 10.00% -1,555.56% 91.95% -141.67% -236.78% 100.65% -948.15%
Operating Cash Flow Growth		 -36.90% -75.00% 805.64% 37.25% 12.35% -4.71% 98.26% 62.45% -17.85% -5.47% -0.14%
Free Cash Flow Firm Growth		 443.17% -266.40% 159.79% -113.94% -997.92% -188.11% 18.60% 83.81% 181.47% -578.06% -100.47%
Invested Capital Growth		 13.14% 47.30% -43.14% 6.18% 67.85% 111.65% 42.52% 5.30% -11.04% 21.98% 31.59%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 37.71% 19.55% 22.35% 27.78% 24.79% 22.28% 23.23% 19.22% 17.44% 22.18% 22.04%
EBITDA Margin		 6.68% -2.95% -6.54% 24.99% 23.89% -25.49% 36.18% 17.09% -5.36% 26.63% 26.48%
Operating Margin		 -9.47% -23.07% -40.34% 6.98% 4.81% 2.41% 0.34% 1.71% -26.59% 8.11% 7.84%
EBIT Margin		 -3.08% -21.18% -26.20% 6.33% 3.51% -45.97% 15.70% -5.50% -29.74% 7.28% 5.11%
Profit (Net Income) Margin		 -6.68% -25.59% -27.05% -5.49% -4.78% -55.50% 8.32% -10.79% -35.04% 3.01% -1.34%
Tax Burden Percent		 303.26% 95.22% 86.44% -767.92% 144.70% 103.81% 77.44% 120.86% 104.47% 52.33% -31.98%
Interest Burden Percent		 219.22% 126.88% 119.42% 11.30% -94.29% 116.30% 68.45% 162.19% 112.77% 78.91% 82.02%
Effective Tax Rate		 0.00% 0.00% 0.00% 100.39% 0.00% 0.00% 16.75% 0.00% 0.00% 49.34% 133.63%
Return on Invested Capital (ROIC)		 -11.49% -12.18% -22.73% -0.03% 2.75% 0.96% 0.13% 0.48% -7.75% 1.77% -1.13%
ROIC Less NNEP Spread (ROIC-NNEP)		 32.20% 17.48% -25.27% 8.81% 47.49% -106.25% 7.80% -7.79% -18.86% 1.04% -0.30%
Return on Net Nonoperating Assets (RNNOA)		 -4.30% -3.38% 6.91% -3.42% -6.14% -46.46% 7.04% -10.50% -30.16% 1.88% -0.63%
Return on Equity (ROE)		 -10.04% -15.57% -15.82% -3.44% -3.40% -45.50% 7.17% -10.02% -37.91% 3.65% -1.76%
Cash Return on Invested Capital (CROIC)		 -18.07% -50.44% 32.28% -6.02% -47.92% -70.69% -34.93% -4.69% 3.94% -18.03% -28.40%
Operating Return on Assets (OROA)		 -1.76% -6.44% -8.26% 1.99% 1.04% -13.58% 4.62% -1.50% -7.59% 1.89% 1.35%
Return on Assets (ROA)		 -3.82% -7.79% -8.53% -1.73% -1.42% -16.39% 2.45% -2.93% -8.94% 0.78% -0.35%
Return on Common Equity (ROCE)		 -7.96% -13.51% -14.69% -3.31% -3.22% -39.17% 6.32% -9.52% -35.47% 3.36% -1.42%
Return on Equity Simple (ROE_SIMPLE)		 -19.99% -15.21% -18.17% -3.67% -3.66% -40.83% 7.11% -11.53% -43.18% 3.90% 0.00%
Net Operating Profit after Tax (NOPAT)		 -30 -84 -147 -0.13 18 13 2.78 12 -194 46 -38
NOPAT Margin		 -3.31% -16.15% -28.24% -0.03% 3.37% 1.69% 0.29% 1.20% -18.61% 4.11% -2.64%
Net Nonoperating Expense Percent (NNEP)		 -37.95% -29.66% 2.54% -8.84% -44.74% 107.21% -7.67% 8.27% 11.11% 0.74% -0.82%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - - 1.42% -0.81%
Cost of Revenue to Revenue		 75.61% 80.45% 77.65% 72.20% 75.25% 77.77% 77.07% 81.28% 87.54% 79.12% 79.00%
SG&A Expenses to Revenue		 9.47% 17.56% 15.33% 13.60% 10.96% 11.08% 13.61% 9.10% 7.31% 7.98% 8.01%
R&D to Revenue		 2.38% 4.10% 4.40% 2.71% 2.34% 2.34% 3.05% 4.34% 4.35% 2.99% 2.62%
Operating Expenses to Revenue		 18.96% 42.63% 62.69% 20.82% 18.57% 19.82% 22.59% 17.01% 39.05% 12.77% 13.16%
Earnings before Interest and Taxes (EBIT)		 -28 -111 -136 31 19 -341 152 -56 -311 82 73
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 61 -15 -34 124 130 -189 351 175 -56 301 377
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.28 0.70 1.17 1.30 1.15 4.63 1.08 0.88 0.50 1.40 2.56
Price to Tangible Book Value (P/TBV)		 78.69 1.26 1.61 1.77 1.60 6.61 1.57 1.54 0.65 1.79 3.78
Price to Revenue (P/Rev)		 1.53 1.17 1.74 1.95 1.50 5.29 1.27 0.82 0.41 1.08 1.60
Price to Earnings (P/E)		 50.28 0.00 0.00 0.00 0.00 0.00 15.69 0.00 0.00 48.61 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 1.99% 0.00% 0.00% 0.00% 0.00% 0.00% 6.37% 0.00% 0.00% 2.06% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 2.43 0.68 1.28 1.32 1.01 2.69 1.04 0.96 0.81 1.12 1.37
Enterprise Value to Revenue (EV/Rev)		 1.49 1.08 1.15 1.32 1.55 6.41 2.69 2.48 1.83 2.86 3.64
Enterprise Value to EBITDA (EV/EBITDA)		 22.27 0.00 0.00 5.30 6.48 0.00 7.45 14.49 0.00 10.73 13.75
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 20.91 44.16 0.00 17.16 0.00 0.00 39.26 71.23
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 45.99 378.95 939.75 206.20 0.00 69.63 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 41.20 68.04 8.01 6.38 7.31 43.31 12.01 7.17 6.58 11.78 18.88
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 2.87 0.00 0.00 0.00 0.00 0.00 19.36 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.40 0.21 0.19 0.52 1.07 1.35 2.09 2.50 2.45 2.99
Long-Term Debt to Equity		 0.14 0.12 0.15 0.16 0.30 0.76 1.30 1.84 1.74 2.16 2.61
Financial Leverage		 -0.13 -0.19 -0.27 -0.39 -0.13 0.44 0.90 1.35 1.60 1.81 2.07
Leverage Ratio		 2.63 2.00 1.85 1.99 2.40 2.78 2.93 3.42 4.24 4.67 4.97
Compound Leverage Factor		 5.77 2.54 2.21 0.23 -2.26 3.23 2.01 5.54 4.78 3.69 4.08
Debt to Total Capital		 19.08% 28.80% 17.59% 15.76% 34.32% 51.73% 57.47% 67.59% 71.42% 71.05% 74.93%
Short-Term Debt to Total Capital		 7.64% 20.44% 5.10% 1.97% 14.79% 15.10% 2.15% 7.87% 21.77% 8.40% 9.46%
Long-Term Debt to Total Capital		 11.45% 8.36% 12.49% 13.79% 19.53% 36.63% 55.32% 59.71% 49.64% 62.65% 65.47%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 7.33% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 13.58% 7.54% 2.40% 4.22% 3.50% 2.33% 2.01% 1.73% 2.19% 2.32% 6.87%
Common Equity to Total Capital		 67.34% 63.65% 80.01% 80.02% 62.18% 38.61% 40.53% 30.69% 26.39% 26.63% 18.20%
Debt to EBITDA		 2.84 -25.83 -5.00 1.18 3.02 -6.01 4.59 12.06 -40.98 7.72 9.71
Net Debt to EBITDA		 -2.61 9.94 9.65 -2.84 -0.10 -3.24 3.78 9.38 -25.33 6.43 6.82
Long-Term Debt to EBITDA		 1.70 -7.50 -3.55 1.03 1.72 -4.25 4.41 10.65 -28.48 6.81 8.49
Debt to NOPAT		 -5.72 -4.71 -1.16 -1,092.88 21.43 90.57 578.78 171.66 -11.80 50.09 -97.54
Net Debt to NOPAT		 5.26 1.81 2.24 2,625.05 -0.68 48.89 477.42 133.56 -7.29 41.74 -68.49
Long-Term Debt to NOPAT		 -3.43 -1.37 -0.82 -956.41 12.19 64.13 557.13 151.66 -8.20 44.16 -85.22
Altman Z-Score		 1.19 0.30 0.59 0.84 0.34 0.57 0.26 -0.01 -0.49 -0.04 0.15
Noncontrolling Interest Sharing Ratio		 41.34% 13.24% 7.15% 3.95% 5.17% 13.92% 11.92% 5.00% 6.45% 7.85% 18.94%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.23 1.18 2.41 2.13 1.17 0.99 1.03 1.11 0.86 0.73 0.92
Quick Ratio		 0.92 0.55 1.74 1.48 0.70 0.64 0.57 0.72 0.40 0.37 0.69
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -95 -349 209 -29 -320 -921 -749 -121 99 -473 -947
Operating Cash Flow to CapEx		 41.28% 10.02% 124.83% 167.93% 63.18% 28.90% 50.04% 80.34% 69.29% 42.47% 25.27%
Free Cash Flow to Firm to Interest Expense		 -2.28 -10.66 7.34 -0.85 -6.10 -15.72 -14.26 -3.06 2.25 -22.28 -11.80
Operating Cash Flow to Interest Expense		 0.79 0.25 2.63 2.99 2.20 1.88 4.14 8.93 6.61 12.95 3.42
Operating Cash Flow Less CapEx to Interest Expense		 -3.04 -2.26 0.52 1.21 -1.28 -4.62 -4.14 -2.18 -2.93 -17.55 -10.11
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.57 0.30 0.32 0.32 0.30 0.30 0.29 0.27 0.26 0.26 0.26
Accounts Receivable Turnover		 73.63 24.75 23.82 27.66 17.67 27.04 51.16 42.32 34.18 26.58 26.47
Inventory Turnover		 375.73 311.56 1,086.17 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 1.75 0.95 0.99 0.90 0.80 0.73 0.69 0.62 0.59 0.54 0.51
Accounts Payable Turnover		 5.56 3.69 5.74 6.40 6.21 9.64 11.41 9.13 9.07 9.17 11.06
Days Sales Outstanding (DSO)		 4.96 14.75 15.33 13.19 20.66 13.50 7.13 8.62 10.68 13.73 13.79
Days Inventory Outstanding (DIO)		 2.56 1.17 0.34 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 65.66 98.80 63.55 57.01 58.76 37.87 31.98 39.96 40.24 39.80 33.00
Cash Conversion Cycle (CCC)		 -119.46 -82.89 -47.89 -43.82 -38.11 -24.37 -24.85 -31.33 -29.56 -26.07 -19.22
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 560 825 469 498 836 1,769 2,521 2,654 2,361 2,880 3,790
Invested Capital Turnover		 1.73 0.75 0.80 1.02 0.82 0.57 0.45 0.40 0.42 0.43 0.43
Increase / (Decrease) in Invested Capital		 65 265 -356 29 338 933 752 134 -293 519 910
Enterprise Value (EV)		 1,360 562 599 655 842 4,757 2,617 2,536 1,914 3,235 5,181
Market Capitalization		 1,396 610 904 967 815 3,931 1,231 839 426 1,220 2,275
Book Value per Share		 $1.54 $1.68 $1.14 $1.10 $1.05 $1.25 $1.39 $1.08 $0.95 $0.56 $0.55
Tangible Book Value per Share		 $0.38 $0.93 $0.83 $0.81 $0.76 $0.87 $0.96 $0.61 $0.73 $0.44 $0.37
Total Capital		 908 1,380 968 927 1,144 2,198 2,804 3,123 3,210 3,275 4,885
Total Debt		 173 397 170 146 392 1,137 1,612 2,111 2,292 2,327 3,660
Total Long-Term Debt		 104 115 121 128 223 805 1,551 1,865 1,594 2,052 3,198
Net Debt		 -159 -153 -329 -351 -13 614 1,329 1,642 1,417 1,939 2,570
Capital Expenditures (CapEx)		 160 82 60 61 182 380 435 440 419 647 1,086
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -134 -113 9.51 -37 -102 -181 -184 -83 -297 -350 -618
Debt-free Net Working Capital (DFNWC)		 168 395 430 380 278 322 83 350 472 -70 320
Net Working Capital (NWC)		 99 113 381 362 109 -10 23 104 -227 -346 -142
Net Nonoperating Expense (NNE)		 31 49 -6.19 27 44 425 -78 123 171 12 -18
Net Nonoperating Obligations (NNO)		 -175 -158 -329 -283 85 708 1,328 1,642 1,444 1,932 2,565
Total Depreciation and Amortization (D&A)		 89 95 102 92 111 152 199 231 255 219 304
Debt-free, Cash-free Net Working Capital to Revenue		 -14.65% -21.62% 1.83% -7.54% -18.84% -24.33% -18.93% -8.11% -28.42% -30.90% -43.44%
Debt-free Net Working Capital to Revenue		 48.73% 75.55% 82.62% 76.81% 51.13% 43.31% 8.53% 34.20% 45.17% -6.22% 22.48%
Net Working Capital to Revenue		 10.79% 21.55% 73.14% 73.12% 20.04% -1.37% 2.33% 10.19% -21.77% -30.55% -10.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.13) ($0.20) ($0.21) ($0.04) ($0.04) ($0.69) $0.09 ($0.13) ($2.93) $0.02 ($0.02)
Adjusted Weighted Average Basic Shares Outstanding		 492.07M 617.17M 672.84M 674.73M 668.83M 716.89M 865.35M 886.82M 901.14M 1.59B 1.61B
Adjusted Diluted Earnings per Share		 ($0.13) ($0.20) ($0.21) ($0.04) ($0.04) ($0.69) ($0.06) ($0.13) ($2.93) $0.00 ($0.02)
Adjusted Weighted Average Diluted Shares Outstanding		 492.07M 617.17M 672.84M 674.73M 668.83M 716.89M 911.59M 886.82M 901.14M 1.74B 1.61B
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 522.51M 679.86M 671.29M 674.36M 679.96M 817.96M 888.14M 890.71M 1.54B 1.61B 1.62B
Normalized Net Operating Profit after Tax (NOPAT)		 -26 -54 -21 23 18 21 17 12 -9.86 46 78
Normalized NOPAT Margin		 -2.81% -10.39% -4.11% 4.60% 3.37% 2.87% 1.79% 1.20% -0.94% 4.11% 5.49%
Pre Tax Income Margin		 -13.52% -26.88% -31.29% 0.72% -3.31% -53.46% 10.75% -8.92% -33.54% 5.75% 4.19%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -1.35 -3.38 -4.80 0.91 0.36 -5.83 2.90 -1.42 -7.06 3.89 0.91
NOPAT to Interest Expense		 -0.73 -2.57 -5.17 0.00 0.35 0.21 0.05 0.31 -4.42 2.19 -0.47
EBIT Less CapEx to Interest Expense		 -9.01 -5.89 -6.90 -0.87 -3.12 -12.33 -5.38 -12.54 -16.60 -26.62 -12.62
NOPAT Less CapEx to Interest Expense		 -4.56 -5.09 -7.28 -1.78 -3.13 -6.28 -8.23 -10.80 -13.96 -28.31 -14.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.05% 0.00% -0.44% 10.58% -25.71%
Augmented Payout Ratio		 -1.99% -15.31% -14.92% 0.00% -6.53% -5.22% 330.44% 0.00% -0.51% 24.98% -38.60%

Quarterly Metrics And Ratios for VNET Group

No quarterly metrics and ratios for VNET Group are available.


Financials Breakdown Chart

Frequently Asked Questions About VNET Group's Financials

When does VNET Group's financial year end?

According to the most recent income statement we have on file, VNET Group's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

How has VNET Group's net income changed over the last 10 years?

In the past 10 years, VNET Group's net income has ranged from -$412.24 million in 2020 to $80.83 million in 2021, and is currently -$19.08 million as of their latest financial filing in 2025. Check out VNET Group's forecast to explore projected trends and price targets.

What is VNET Group's operating income?
VNET Group's total operating income in 2025 was $111.58 million, based on the following breakdown:
  • Total Gross Profit: $313.52 million
  • Total Operating Expenses: $187.25 million
How has VNET Group's revenue changed over the last 10 years?

Over the last 10 years, VNET Group's total revenue changed from $914.03 million in 2015 to $1.42 billion in 2025, a change of 55.7%.

How much debt does VNET Group have?

VNET Group's total liabilities were at $5.15 billion at the end of 2025, a 47.8% increase from 2024, and a 461.8% increase since 2015.

How much cash does VNET Group have?

In the past 10 years, VNET Group's cash and equivalents has ranged from $186.04 million in 2016 to $789.86 million in 2025, and is currently $789.86 million as of their latest financial filing in 2025.

How has VNET Group's book value per share changed over the last 10 years?

Over the last 10 years, VNET Group's book value per share changed from 1.54 in 2015 to 0.55 in 2025, a change of -64.3%.


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Financial statements for NASDAQ:VNET last updated on 4/18/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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