VNET
VNET Group Inc DRC
NASDAQ: VNET · TECHNOLOGY · INFORMATION TECHNOLOGY SERVICES
$8.30
-2.35% today
Updated 2026-04-29
Market cap
$2.36B
P/E ratio
—
P/S ratio
0.24x
EPS (TTM)
$-0.14
Dividend yield
—
52W range
$5 – $14
Volume
6.5M
VNET Group Inc DRC (VNET) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $313.63M | $525.20M | $1.02B | $1.52B | $1.97B | $2.88B | $3.63B | $3.64B | $3.39B | $3.40B | $3.79B | $4.83B | $6.19B | $7.19B | $7.41B | $8.26B | $9.68B |
| Revenue growth (YoY) | — | +67.5% | +94.4% | +49.3% | +29.0% | +46.3% | +26.3% | +0.2% | -6.8% | +0.2% | +11.4% | +27.4% | +28.2% | +16.1% | +3.1% | +11.4% | +17.2% |
| Cost of revenue | $229.30M | $396.86M | $744.37M | $1.10B | $1.45B | $2.07B | $2.78B | $2.93B | $2.63B | $2.46B | $2.85B | $3.75B | $4.75B | $5.88B | $6.12B | $6.43B | $7.55B |
| Gross profit | $84.33M | $128.34M | $276.56M | $425.68M | $516.87M | $810.14M | $853.76M | $712.14M | $758.41M | $944.87M | $939.45M | $1.08B | $1.44B | $1.31B | $1.29B | $1.83B | $2.13B |
| Gross margin | 26.9% | 24.4% | 27.1% | 27.9% | 26.3% | 28.2% | 23.5% | 19.6% | 22.4% | 27.8% | 24.8% | 22.3% | 23.2% | 18.2% | 17.4% | 22.2% | 22.0% |
| R&D | $7.61M | $19.92M | $34.66M | $63.93M | $77.83M | $121.68M | $142.84M | $149.34M | $149.14M | $92.11M | $88.79M | $112.89M | $188.49M | $306.84M | $322.22M | $246.61M | $254.02M |
| SG&A | $25.46M | $282.30M | $82.93M | $153.51M | $186.91M | $483.40M | $568.74M | $639.65M | $519.95M | $462.64M | $415.28M | $535.11M | $842.35M | $642.95M | $541.85M | $659.03M | $1.02B |
| Operating income | $27.14M | $-232.81M | $14.90M | $80.94M | $41.77M | $-114.70M | $-284.23M | $-840.20M | $-1.37B | $237.48M | $182.23M | $116.60M | $21.31M | $62.22M | $-1.97B | $669.44M | $732.04M |
| Operating margin | 8.7% | -44.3% | 1.5% | 5.3% | 2.1% | -4.0% | -7.8% | -23.1% | -40.3% | 7.0% | 4.8% | 2.4% | 0.3% | 0.9% | -26.6% | 8.1% | 7.6% |
| EBITDA | $56.55M | $-196.82M | $152.99M | $233.35M | $301.66M | $327.54M | $454.57M | $-116.08M | $-209.18M | $894.99M | $1.01B | $-1.21B | $2.27B | $1.68B | $-366.56M | $2.22B | $2.70B |
| EBITDA margin | 18.0% | -37.5% | 15.0% | 15.3% | 15.3% | 11.4% | 12.5% | -3.2% | -6.2% | 26.3% | 26.6% | -25.1% | 36.6% | 23.3% | -4.9% | 26.8% | 27.9% |
| EBIT | $27.54M | $-230.33M | $64.01M | $105.19M | $101.47M | $-79.11M | $-131.62M | $-780.14M | $-876.28M | $260.38M | $234.38M | $-2.20B | $1.00B | $62.22M | $-2.17B | $669.44M | $732.04M |
| Interest expense | $416000.00 | $2.79M | $4.40M | $11.38M | $136.78M | $232.02M | $274.18M | $198.59M | $185.31M | $236.07M | $345.95M | $380.61M | $334.95M | $273.31M | $312.17M | $400.98M | $582.32M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $-5.92M | $-255.39M | $18.44M | $56.32M | $-48.23M | $-348.48M | $-428.10M | $-633.60M | $-772.73M | $-205.06M | $-182.29M | $-2.71B | $500.10M | $-789.58M | $-2.64B | $183.20M | $-249.78M |
| Net income growth (YoY) | — | -4214.7% | +107.2% | +205.4% | -185.6% | -622.6% | -22.8% | -48.0% | -22.0% | +73.5% | +11.1% | -1386.3% | +118.5% | -257.9% | -234.8% | +106.9% | -236.3% |
| Profit margin | -1.9% | -48.6% | 1.8% | 3.7% | -2.5% | -12.1% | -11.8% | -17.4% | -22.8% | -6.0% | -4.8% | -56.1% | 8.1% | -11.0% | -35.7% | 2.2% | -2.6% |