VNET Group/$VNET
1D1W1MYTD1Y5YMAX
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 December 2025, it had 49,863 retail cabinets, with the majority in Beijing, Shanghai, and the Greater Bay area. It also had 889 MW of wholesale capacity in service, with a further 452 MW under construction and a further 840 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
$1.9B
-
-$1.30
0.30
-
Price and volume
Market cap
$1.9B
Beta
0.3
52-week high
$14.48
52-week low
$5.91
Average daily volume
4.5M
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)
489.894
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)
$576,290
Management effectiveness
Return on assets (TTM)
1.17%
Return on equity (TTM)
-4.70%
Valuation
Price to revenue (TTM)
1.114
Price to book
0.45
Price to tangible book (TTM)
2.04
Price to free cash flow (TTM)
-2.088
Free cash flow yield (TTM)
-47.90%
Free cash flow per share (TTM)
-3.123
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
VNET is delivering strong operating growth: Q2 2026 revenue increased 14.2% year over year, wholesale revenue rose 29.3%, and adjusted EBITDA grew 25.4% to RMB918.3 million with margin expanding to 33.0%; management maintained its 2026 revenue and EBITDA outlook. (VNET Group)
Demand visibility is improving: VNET secured 862MW of wholesale orders year to date through Q2, including a 345MW order in the quarter, while adding approximately 1.4GW of land-bank capacity and expanding wholesale capacity in service to 1,007MW. (VNET Group)
The CATL relationship could strengthen VNET’s competitive position in AI infrastructure by combining its data-center development capabilities with CATL’s energy-storage and zero-carbon technology; the parties plan an integrated compute-energy ecosystem spanning gigawatt-scale facilities and distributed networks. (SEC filing)
GAAP profitability remains weak: Q2 2026 net loss widened to RMB135.6 million, while gross profit fell 7.8% year over year and gross margin contracted to 18.2% from 22.5%, partly because rapid expansion increased depreciation. (VNET Group)
The expansion plan is highly capital-intensive and leveraged: VNET forecasts RMB10–12 billion of 2026 capex, while June 30 debt totaled about RMB23.4 billion versus RMB7.21 billion of cash, restricted cash and short-term investments; Q2 operating cash flow also declined year over year. (VNET Group)
New capacity is diluting near-term utilization: wholesale utilization declined to 73.9% from 75.9% a year earlier, and ramp-up capacity utilization was only 36.6%, increasing execution and absorption risk as VNET continues building out its platform. (VNET Group)
Data summarised monthly by Lightyear AI. Last updated on 14 Sept 2026.
VNET Group Financial Performance
Revenues and expenses
VNET Group Earnings Performance
Company profitability
Upcoming events
No upcoming events
VNET Group News
AllArticlesVideos
Funds containing VNET Group
AllUSDEURGBP
Fund name | Fund size | $VNET weighting |
|---|---|---|
iShares Core MSCI Emerging Markets IMI$EIMI | $46B | 0.01% |
iShares MSCI EM IMI Screened€AYEM | €5.8B | 0.01% |
iShares Core MSCI Emerging Markets€EMIM | €39B | 0.01% |
iShares MSCI EM IMI Screened£SEGM | £5B | 0.01% |
iShares Core MSCI Emerging Markets IMI£EMIM | £34B | 0.01% |
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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