VNET Group/$VNET
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About VNET Group
VNET started as AsiaCloud in 1999 and moved to the data center business with its first self-developed data center opening 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 2025, it had 51,960 retail cabinets with the majority in Beijing, Shanghai, and the Greater Bay area. It also had 674 MW of wholesale capacity in service with a further 326 MW under construction and a further 792 MW held for future development.
Ticker
$VNET
Sector
Business services
Primary listing
Employees
2,581
Headquarters
Website
VNET Group Metrics
BasicAdvanced
$2.6B
-
-$0.04
0.18
-
Price and volume
Market cap
$2.6B
Beta
0.18
52-week high
$16.13
52-week low
$2.74
Average daily volume
6M
Financial strength
Current ratio
0.974
Quick ratio
0.649
Long term debt to equity
267.961
Total debt to equity
324.784
Interest coverage (TTM)
1.98%
Profitability
EBITDA (TTM)
372.744
Gross margin (TTM)
23.32%
Net profit margin (TTM)
0.63%
Operating margin (TTM)
9.39%
Effective tax rate (TTM)
66.37%
Revenue per employee (TTM)
$493,360
Management effectiveness
Return on assets (TTM)
1.54%
Return on equity (TTM)
1.87%
Valuation
Price to revenue (TTM)
2.021
Price to book
0.42
Price to tangible book (TTM)
0.77
Price to free cash flow (TTM)
-10.11
Free cash flow yield (TTM)
-9.89%
Free cash flow per share (TTM)
-0.949
Growth
Revenue change (TTM)
17.85%
Earnings per share change (TTM)
-97.55%
3-year revenue growth (CAGR)
10.66%
10-year revenue growth (CAGR)
10.41%
3-year earnings per share growth (CAGR)
-58.26%
10-year earnings per share growth (CAGR)
-24.80%
What the Analysts think about VNET Group
Analyst ratings (Buy, Hold, Sell) for VNET Group stock.
Bulls say / Bears say
Total net revenues climbed 22.1% year-over-year to RMB2.43 billion in Q2 2025, with IDC business revenues up 32.6% year-over-year, pointing to strong demand for data center services. (VNET Q2 2025 Results)
Wholesale IDC revenue soared 112.5% year-over-year to RMB854.1 million, with in-service capacity rising by 101 MW quarter-over-quarter to 674 MW and reaching a 100% commitment rate, highlighting strong performance in attracting hyperscale customers. (VNET Q2 2025 Results)
Adjusted EBITDA rose 27.7% year-over-year to RMB732.5 million, with margin expanding by 130 basis points to 30.1%, reflecting improved operating leverage and scale benefits. (VNET Q2 2025 Results)
Despite revenue growth, VNET posted a Q2 net loss of RMB11.9 million ($1.9 million), driven by high interest and tax expenses, highlighting ongoing challenges on the path to profitability. (Reuters)
Net debt compared to trailing twelve months EBITDA was 5.3x as of June 30, 2025, with RMB14.65 billion in long-term debt, exposing the company to risks from higher interest rates and refinancing pressures. (Motley Fool)
China’s planners are building a national network to sell excess computing power from data centers running at 20–30% utilization after a three-year expansion, suggesting oversupply risks that could reduce pricing and utilization in VNET’s markets. (Reuters)
Data summarised monthly by Lightyear AI. Last updated on 4 Sept 2025.
VNET Group Financial Performance
Revenues and expenses
VNET Group Earnings Performance
Company profitability
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
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Capital at risk
Upcoming events
No upcoming events
FAQs
What’s the current market cap for VNET Group stock?
VNET Group (VNET) has a market cap of $2.6B as of September 18, 2025.
What is the P/E ratio for VNET Group stock?
The price to earnings (P/E) ratio for VNET Group (VNET) stock is 0 as of September 18, 2025.
Does VNET Group stock pay dividends?
No, VNET Group (VNET) stock does not pay dividends to its shareholders as of September 18, 2025.
When is the next VNET Group dividend payment date?
VNET Group (VNET) stock does not pay dividends to its shareholders.
What is the beta indicator for VNET Group?
VNET Group (VNET) has a beta rating of 0.18. This means that it is less volatile than the market, on average. A beta of 1 would indicate the stock moves in-line with the market, while a beta of 0.5 would mean it moves half as much as the market.