VNET Group/$VNET
1D1W1M3M6MYTD1Y5YMAX
Capital at risk
About VNET Group
VNET started as AsiaCloud in 1999 and moved into the data center business, opening its first self-developed data center in 2010. The firm listed (as 21Vianet) on the Nasdaq in April 2011, subsequently changing its name to VNET Group in 2021. It originally focused on providing data center services such as colocation and cloud services to retail clients in China, but added hyperscale customers in 2019 and now counts large Chinese hyperscalers such as Alibaba Cloud, Tencent Cloud, and Huawei Cloud as customers. At the end of June 2026, it had 50,081 retail cabinets, with the majority in Beijing, Shanghai, and the Greater Bay Area. It also had 1.007 megawatts of wholesale capacity in service, with a further 585 MW under construction and a further 1.050 MW held for future development.
- Ticker
- $VNET
- Sector
- Business services
- Primary listing
- NASDAQ
- Employees
- 2,784
- Headquarters
- Beijing, China
- Website
- www.vnet.com
VNET Group Metrics
BasicAdvanced
$848M
-
-$1.30
0.30
-
Price and volume
Market cap
$848M
Beta
0.3
52-week high
$14.48
52-week low
$2.91
Average daily volume
5.7M
Financial strength
Current ratio
0.973
Quick ratio
0.752
Long term debt to equity
2.509
Total debt to equity
3.092
Interest coverage (TTM)
1.09%
Profitability
EBITDA (TTM)
491.141
Gross margin (TTM)
20.49%
Net profit margin (TTM)
-6.24%
Operating margin (TTM)
7.77%
Effective tax rate (TTM)
176.81%
Revenue per employee (TTM)
$577,760
Management effectiveness
Return on assets (TTM)
1.17%
Return on equity (TTM)
-4.70%
Valuation
Price to revenue (TTM)
0.508
Price to book
0.21
Price to tangible book (TTM)
0.93
Price to free cash flow (TTM)
-0.952
Free cash flow yield (TTM)
-105.06%
Free cash flow per share (TTM)
-3.131
Growth
Revenue change (TTM)
18.69%
Earnings per share change (TTM)
2,714.12%
3-year revenue growth (CAGR)
13.61%
10-year revenue growth (CAGR)
11.30%
3-year earnings per share growth (CAGR)
26.20%
10-year earnings per share growth (CAGR)
5.42%
What the Analysts think about VNET Group
Analyst ratings (Buy, Hold, Sell) for VNET Group stock.
Analyst projections of the future price of VNET Group stock.
Bulls say / Bears say
Second-quarter revenue rose 14.2% year on year, led by wholesale data-centre revenue growth of 29.3%; wholesale capacity in service also grew 49.4% to 1,007MW. That points to a fast-growing core business. (PR Newswire)
VNET won 862MW of wholesale orders in the first half of 2026 and had 355MW of additional reservations. Its in-service capacity was 96.3% committed and capacity under construction was 94.2% pre-committed, giving it visibility over future demand. (TradingKey)
Adjusted EBITDA increased 25.4% in the second quarter, outpacing revenue growth, and management expects full-year adjusted EBITDA to rise 19.2%–25.9%. If that growth is delivered, earnings could scale faster than sales. (PR Newswire)
The 2026 capital-spending plan of RMB10bn–RMB12bn is large relative to first-half operating cash inflow of RMB391.8m. Total debt was RMB23.42bn and net debt was 4.6 times annualised adjusted EBITDA, leaving the expansion reliant on continued financing. (PR Newswire, The Motley Fool)
Wholesale utilisation was 73.9% in June, down from 75.9% a year earlier, as capacity additions outpaced customer usage. Chip supply constraints and slower customer move-ins could delay the revenue payoff from new sites. (TradingKey, The Motley Fool)
Despite higher adjusted EBITDA, second-quarter gross profit fell 7.8% year on year and the GAAP net loss widened. Depreciation from rapid expansion is weighing on reported profitability. (Investing.com, TradingKey)
Data summarised monthly by Lightyear AI. Last updated on 11 Oct 2026.
VNET Group Financial Performance
Revenues and expenses
VNET Group Earnings Performance
Company profitability
Upcoming events
No upcoming events
VNET Group News
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Funds containing VNET Group
Fund name | Fund size | $VNET weighting |
|---|---|---|
Global X Data Center REITs & Digital Infrastructure$VPN | $347M | 1.38% |
Global X Data Center REITs & Digital Infrastructure£VPNG | $347M | 1.38% |
SPDR MSCI Emerging Markets Small Cap£EMSM | $647M | 0.03% |
SPDR MSCI All Country World IM€SPYI | $7.7B | 0.00% |
iShares Core MSCI Emerging Markets IMI$EIMI | $45B | 0.00% |
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