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VNET Group, Inc.

VNET

$3.13 ▼ -0.41 (-11.44%) at close

17 Visible periods

31 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Fair

Neutral

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Analytical Summary

VNET Group, Inc. shows mixed fundamentals. Consider comparing against peers in the Technology sector before making investment decisions.

Market Cap $5.0B

Dividend Yield —

Revenue Growth None

Op. Margin None

ROIC 9.9% ↗

FCF / Share $-0.51 ↘

Trailing P/E —

Price / Book 5.7x

FCF Yield —

Debt / Equity —

info Valuation on last close. End-of-day price, Nov 5, 2026.

17-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$544.25M

↑ +10.0% —

Net Income Profit after all expenses

$-36.01M

↓ -243.5% —

Operating Margin Operating profit as % of sales

4.8%

↓ -31.1% —

FCF / Share Free cash flow per share

$-0.51

↓ -102.9% —

Health Breakdown

Returns

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📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗	FY 2016 Dec 31, 2016 20-F ↗	FY 2015 Dec 31, 2015 20-F ↗	FY 2014 Dec 31, 2014 20-F ↗	FY 2013 Dec 31, 2013 20-F ↗	FY 2012 Dec 31, 2012 20-F ↗	FY 2011 Dec 31, 2011 20-F ↗	FY 2010 Dec 31, 2010 20-F ↗	FY 2009 Dec 31, 2009 20-F ↗
Revenue Growth YoY (%)	—	—	—	—	—	—	10.0% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-16%)	-5.1% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-143%)	-0.6% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-105%)	-6.5% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-154%)	21.0% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+75%)	42.7% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+256%)	—	—	—	—	—
EPS Growth YoY (%)	N/M	N/M	-215.4% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	N/M	N/M	-1625.0% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	0.0% Caution ↓ Caution Declining Year-over-year change in earnings per share Optimal: > 10%	81.0% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-5.0% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	-53.8% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	7.1% Fair Fair Year-over-year change in earnings per share Optimal: > 10%	-600.0% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	—	—	—	—	—
Net Income Growth YoY (%)	N/M	N/M	-231.0% Weak Weak Year-over-year change in net income	N/M	N/M	-1485.9% Weak ↓ Weak Declining Year-over-year change in net income	12.2% Fair ↑ Fair Improving Year-over-year change in net income	74.9% Excellent ↑ Excellent Improving Year-over-year change in net income	-30.1% Weak ↑ Weak Improving Year-over-year change in net income	-38.1% Weak ↑ Weak Improving Year-over-year change in net income	-17.7% Weak Weak Year-over-year change in net income	-605.2% Weak Weak Year-over-year change in net income	—	—	—	—	—
FCF Growth YoY (%)	-102.9% Weak ↓ Weak Declining Year-over-year change in free cash flow	-77.6% Weak ↓ Weak Declining Year-over-year change in free cash flow	-55.6% Weak ↑ Weak Improving Year-over-year change in free cash flow	61.6% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	37.1% Excellent Excellent Year-over-year change in free cash flow	-292.7% Weak Weak Year-over-year change in free cash flow	N/M	—	—	—	—	—	—	—	—	—	—
Revenue CAGR 3Y (%)	—	—	—	—	—	—	1.2% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-4.1% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	4.0% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	17.3% Excellent Excellent Compound annual revenue growth over 3 years	—	41.9% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—	—
Revenue CAGR 5Y (%)	—	—	—	—	—	—	3.3% Caution ↓ Caution Declining Compound annual revenue growth over 5 years	8.8% Good Good Compound annual revenue growth over 5 years	—	26.5% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—	—	—
EPS CAGR 3Y (%)	—	-39.4% Weak Weak Compound annual EPS growth over 3 years	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗	FY 2016 Dec 31, 2016 20-F ↗	FY 2015 Dec 31, 2015 20-F ↗	FY 2014 Dec 31, 2014 20-F ↗	FY 2013 Dec 31, 2013 20-F ↗	FY 2012 Dec 31, 2012 20-F ↗	FY 2011 Dec 31, 2011 20-F ↗	FY 2010 Dec 31, 2010 20-F ↗	FY 2009 Dec 31, 2009 20-F ↗
Operating Margin (%) (%)	—	—	—	—	—	—	4.8% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-76%)	7.0% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-65%)	-40.3% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-302%)	-23.1% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-215%)	-7.8% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-139%)	-4.0% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-120%)	2.1% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-89%)	—	1.5% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-93%)	—	—
Effective Tax Rate (%) (%)	—	—	—	-21.2% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	17.8% Good ↑ Good Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-4.3% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-3.1% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-15.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	8.9% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	1.2% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-13.5% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-5.3% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-28.1% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	22.9% Fair Fair Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—
Profit Margin (%) (%)	—	—	—	—	—	—	-4.8% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-132%)	-6.0% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-140%)	-22.8% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-252%)	-17.4% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-216%)	-11.8% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-179%)	-12.1% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-181%)	-2.5% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-116%)	—	1.8% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-88%)	—	—
FCF Margin (%) (%)	—	—	—	—	—	—	-11.8% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	7.9% Caution Caution Free cash flow as a percentage of revenue Optimal: > 10%	—	—	—	—	—	—	-8.8% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—	—
FCF / Net Income (x)	22.78x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	-15.93x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.34x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	0.72x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	-2.61x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.65x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	2.45x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	-1.32x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—	—	—	—	—	—	-4.86x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗	FY 2016 Dec 31, 2016 20-F ↗	FY 2015 Dec 31, 2015 20-F ↗	FY 2014 Dec 31, 2014 20-F ↗	FY 2013 Dec 31, 2013 20-F ↗	FY 2012 Dec 31, 2012 20-F ↗	FY 2011 Dec 31, 2011 20-F ↗	FY 2010 Dec 31, 2010 20-F ↗	FY 2009 Dec 31, 2009 20-F ↗
Return on Invested Capital (%)	9.9% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	8.3% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	-25.9% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	2.2% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	0.2% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	1.9% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	3.8% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	5.4% Caution ↑ Caution Improving Return earned on debt + equity capital invested Optimal: > 10%	-24.7% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-13.6% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-8.0% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-5.5% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	2.2% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—	0.7% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—	—
Return on Capital (%) (%)	1.7% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	2.1% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-6.5% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	0.4% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	0.1% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	0.6% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	1.3% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	2.1% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-13.8% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-6.8% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-2.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-1.2% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	0.7% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	0.6% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	-4.0% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-122%)	2.9% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-84%)	-44.0% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-338%)	-11.7% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-163%)	6.9% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-63%)	-41.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-323%)	-3.7% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-120%)	-4.0% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-122%)	-15.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-183%)	-10.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-156%)	-10.7% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-158%)	-15.8% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-186%)	-2.0% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-111%)	—	1.1% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-94%)	—	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗	FY 2016 Dec 31, 2016 20-F ↗	FY 2015 Dec 31, 2015 20-F ↗	FY 2014 Dec 31, 2014 20-F ↗	FY 2013 Dec 31, 2013 20-F ↗	FY 2012 Dec 31, 2012 20-F ↗	FY 2011 Dec 31, 2011 20-F ↗	FY 2010 Dec 31, 2010 20-F ↗	FY 2009 Dec 31, 2009 20-F ↗
Debt to Equity (x)	—	—	—	—	—	0.01x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-99%)	0.05x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-89%)	0.01x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-98%)	0.01x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-98%)	0.27x Excellent ↑ Excellent Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-39%)	0.07x Excellent → Excellent Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-85%)	0.07x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-84%)	0.07x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-84%)	—	—	—	—
Interest Coverage (x)	1.30x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	1.67x Caution ↑ Caution Improving Operating income divided by interest expense Optimal: > 5x	-6.31x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	0.44x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	0.06x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	0.31x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	0.53x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	1.01x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-7.39x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-4.23x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-1.04x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-0.49x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	0.31x Weak Weak Operating income divided by interest expense Optimal: > 5x	—	3.39x Fair Fair Operating income divided by interest expense Optimal: > 5x	—	—
Net Debt (USD)	$-789.86M	$-204.46M	$-316.00M	$-385.86M	$-215.37M	$-410.17M	$-226.09M	$-335.77M	$-291.97M	$55.63M	$-217.52M	$-78.05M	$-212.29M	$-71.40M	$-65.20M	$-13.23M	—
Debt / EBITDA (x)	—	—	—	—	—	0.03x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.25x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.06x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.06x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-4.68x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.34x Fair ↑ Fair Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.98x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.95x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗	FY 2016 Dec 31, 2016 20-F ↗	FY 2015 Dec 31, 2015 20-F ↗	FY 2014 Dec 31, 2014 20-F ↗	FY 2013 Dec 31, 2013 20-F ↗	FY 2012 Dec 31, 2012 20-F ↗	FY 2011 Dec 31, 2011 20-F ↗	FY 2010 Dec 31, 2010 20-F ↗	FY 2009 Dec 31, 2009 20-F ↗
Revenue per Share (USD)	—	—	—	—	—	—	$0.81	$0.73	$0.78	$0.85	$1.14	$1.16	$0.89	—	$0.62	—	—
Basic EPS, GAAP (USD)	$-0.02	$0.02	$-0.41	$-0.13	$0.09	$-0.69	$-0.04	$-0.04	$-0.21	$-0.20	$-0.13	$-0.14	$-0.02	—	$0.01	—	—
Free Cash Flow per Share (USD)	$-0.51	$-0.25	$-0.14	$-0.09	$-0.24	$-0.38	$-0.10	$0.06	—	—	—	—	—	—	$-0.05	—	—
Book Value per Share (USD)	$0.55	$0.55	$0.94	$1.08	$1.31	$1.40	$1.06	$1.10	$1.15	$1.43	$1.26	$0.88	$1.11	—	$1.01	—	—
Tangible Book Value per Share (USD)	$0.37	$0.43	$0.72	$0.61	$0.91	$1.05	$0.76	$0.81	$0.84	$0.79	$0.31	$-0.38	$0.78	—	$0.78	—	—
Basic Weighted Avg Shares (shares)	1.61B	1.59B	901.14M	886.82M	865.35M	716.89M	668.83M	674.73M	672.84M	617.17M	492.07M	401.34M	364.35M	342.53M	259.60M	71.53M	71.53M

🏦 How resilient is the balance sheet? 2 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗	FY 2016 Dec 31, 2016 20-F ↗	FY 2015 Dec 31, 2015 20-F ↗	FY 2014 Dec 31, 2014 20-F ↗	FY 2013 Dec 31, 2013 20-F ↗	FY 2012 Dec 31, 2012 20-F ↗	FY 2011 Dec 31, 2011 20-F ↗	FY 2010 Dec 31, 2010 20-F ↗	FY 2009 Dec 31, 2009 20-F ↗
Working Capital (USD)	$-142.33M	$-345.69M	$-227.28M	$104.42M	$22.61M	$-10.17M	$109.05M	$361.70M	$379.67M	$119.27M	$101.86M	$-19.74M	$420.07M	—	$172.97M	—	—
Total Equity (USD)	$889.23M	$872.12M	$847.11M	$958.30M	$1.14B	$1.01B	$711.47M	$740.92M	$776.10M	$882.21M	$619.80M	$355.05M	$406.21M	—	$262.56M	—	—

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗	FY 2016 Dec 31, 2016 20-F ↗	FY 2015 Dec 31, 2015 20-F ↗	FY 2014 Dec 31, 2014 20-F ↗	FY 2013 Dec 31, 2013 20-F ↗	FY 2012 Dec 31, 2012 20-F ↗	FY 2011 Dec 31, 2011 20-F ↗	FY 2010 Dec 31, 2010 20-F ↗	FY 2009 Dec 31, 2009 20-F ↗
Sales/Revenue/Turnover (USD)	—	—	—	—	—	—	$544.25M	$494.66M	$521.45M	$524.52M	$561.05M	$463.60M	$324.88M	—	$162.21M	—	—
Depreciation Expense (USD)	$304.02M	$218.96M	$254.56M	$231.39M	$198.91M	$151.57M	$110.92M	$82.39M	$80.46M	$69.15M	$62.06M	$44.96M	$23.34M	—	$9.35M	—	—
Net Income, GAAP (USD)	$-36.01M	$25.10M	$-372.38M	$-112.50M	$78.48M	$-415.22M	$-26.18M	$-29.83M	$-118.77M	$-91.26M	$-66.09M	$-56.17M	$-7.96M	—	$2.93M	—	—
Operating Cash Flow (USD)	$274.35M	$274.74M	$290.63M	$353.80M	$217.80M	$109.46M	$115.33M	$102.53M	—	—	—	—	—	—	$26.39M	—	—

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Synced 4 days ago 17 years · 16 quarters

VNET Group, Inc.

Analytical Summary

17-Year Financial Trajectory

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