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VNET Group, Inc. - Unsponsored ADR

VNET Technology Information Technology Services

VNET Group, Inc. - Unsponsored ADR’s revenue for fiscal 2025 (year ended December 2025) was $1.4 billion, up 25.7% from fiscal 2024.

Revenue
+20.5%
EPS
−500.0%
Free cash flow
+17.5%
Total debt
+39.3%

Quarter to June 2026, against a year earlier

3.19 0.04 +1.27%
Market cap
$880.6M
P/E
0.0×
Fwd P/E
−3.3×
Dividend yield
—
F-score
4/9
Altman Z
0.16
Beneish M
−2.43
Dividend safety
0/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 0.26
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — 1 — 1 1 — — — — 1
Insider Ownership 5.05%

Capital & Financial Ratios $m

Size
Market Cap 880.61
Revenue ttm 1,573.05
Net income ttm (19.08)
Free cash flow ttm (1,406.52)
Net debt Q 2,626.39
Valuation
P/E 0.00
Forward P/E (3.33) (negative: loss-making)
Price / sales 0.58
Forward P/S Powerpack
Price / FCF 0.00
Price / book 1.28
Financial health
Current ratio Q 0.97 (below 1: weak)
Debt / equity Q 5.22 (above 2: weak)
Interest coverage Q 1.12
Growth
Revenue growth Q +20.52% (above 0%: growing)
Operating income growth Q +39.88% (above 0%: growing)
EPS, this year +42.38% (at or above 15%: strong)
EPS, next year A +170.90% (at or above 15%: strong)
Revenue, next year A +22.76% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +116.12% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.2×, against a ten-year median of 2.1×; over the ten years it ranged from 0.9× in 2023 to 6.8× in 2021.
P/S against its own 10 years 13.60%
10-year low 10-year high
P/B against its own 10 years 54.47%
10-year low 10-year high
EV/Sales against its own 10 years 57.26%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—
Growth, 2017–25
−100.0%/yr
  1. 0.06 ’17
  2. 0.06 ’18 +0
  3. 0.06 ’19 +0
  4. 0.00 ’20 −100
  5. 0.00 ’21
  6. 0.00 ’22
  7. 0.00 ’23
  8. 0.00 ’24
  9. 0.00 ’25
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 768 279 938 1,061
Receivables 281 273 379 464
Inventory — — — —
Other — — — —
1,384 934 1,638 1,881
2023 2024 2025 Q'26
Payables 98 97 106 111
ST’ Debt 106 275 462 616
Other 226 189 134 152
1,611 1,280 1,780 1,933

Compound Annual Growth %

10y 5y 3y
Sales 9.75% 13.96% 11.57%
Cash Flow 23.41% 20.17% (8.13%)
Earnings 0.00% 0.00% 0.00%
Book Value 4.64% (1.50%) (1.08%)

Earnings Trends EPS, adjusted, against the consensus

Jun 2026 Estimate −0.06 Actual −0.06

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Sep 2025 0.02 0.02 Met by 0.00
Dec 2025 0.04 0.00 Miss by 0.04
Mar 2026 0.00 −1.20 Miss by 1.20
Jun 2026 −0.06 −0.06 Met by 0.00
Sep 2026 −0.02 — Reports 19 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (1.20) (0.06) — — —
’25 (0.12) (0.01) (0.16) 0.18 (0.12)
’24 (0.12) 0.04 0.16 (0.01) 0.02
’23 0.06 (0.24) (0.04) (2.22) (2.46)
’22 0.09 (0.36) (0.42) (0.06) (0.78)
’21 (0.09) 0.47 0.17 (0.03) 0.53
’20 (0.18) (2.70) 0.11 (1.20) (4.14)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 390 410 — — —
’25 310 340 363 411 1,423
’24 263 274 302 292 1,131
’23 263 251 259 271 1,044
’22 260 258 255 252 1,024
’21 212 232 242 286 971
’20 154 316 183 86 740
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 25 — — — —
’25 27 — — 274 274
’24 37 — 204 71 275
’23 66 (5) 128 101 291
’22 76 144 89 354 354
’21 42 49 21 218 218
’20 8 23 32 46 109
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (235) — — — —
’25 (225) — — (842) (842)
’24 37 — (285) (105) (390)
’23 (23) (5) 128 (325) (136)
’22 (84) 144 89 (95) (95)
’21 (62) (29) 21 (224) (224)
’20 (53) (56) (102) (118) (329)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 525 521 495 544 740 971 1,024 1,044 1,131 1,423 1,573 +11.7% 1,747 2,130 2,599 +22.2%
Gross margin, % 19.55 22.35 27.78 24.79 22.28 23.23 19.22 17.44 22.18 22.04 20.53 +2.5 pt
EBT (141) (163) 4 (18) (396) 104 (91) (350) 65 60 79 n/m
EBT margin, % (26.87) (31.29) 0.71 (3.31) (53.46) 10.75 (8.92) (33.54) 5.75 4.19 5.01 +31.1 pt
Net income (134) (141) (27) (26) (411) 81 (110) (366) 34 (19) (19) (19.5%)
Per share, $
Per share, $ Revenue 5.10 4.65 4.40 4.88 6.19 6.73 6.93 6.95 4.26 5.29 5.55 +0.4%
Earnings (1.18) (1.26) (0.24) (0.24) (4.14) 0.54 (0.78) (2.46) 0.12 (0.12) (1.30) (22.4%)
Cash flow 0.12 0.55 0.91 1.03 0.92 1.51 2.39 1.94 1.03 1.02 0.00 +27.2%
Capex (0.94) (0.60) 0.00 (1.86) (3.67) (3.06) (3.04) (2.84) (2.50) (4.15) 0.00 +18.0%
Free cash flow (0.82) (0.04) 0.91 (0.83) (2.76) (1.55) (0.64) (0.91) (1.47) (3.13) 0.00 +16.1%
Book value 8.61 7.13 6.94 6.74 8.85 8.27 6.85 6.11 3.57 3.65 2.49 (9.1%)
Shares, m 103 112 112 111 119 144 148 150 266 269 274 +11.3%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 16.25 0.00 0.00 54.36 0.00 0.00 7.1
P/S 1.39 1.81 1.96 1.48 5.60 1.34 0.85 0.39 1.11 1.60 0.58 1.8
P/B 0.82 1.18 1.25 1.08 4.62 1.09 0.86 0.44 1.33 2.32 1.28 1.5
EV/Sales 1.23 1.84 2.01 1.90 6.32 2.36 1.91 1.12 2.46 3.11 2.24 2.4
EV/FCF (2.82) (9.35) 12.23 (14.40) (14.21) (4.99) (4.18) (1.41) (3.56) (3.01) (2.51) (4.6)
Cash, $m
Cash, $m Operating cash flow 12 62 103 115 109 218 354 291 275 274 397 +41.5%
Capex (96) (67) (68) (208) (439) (442) (449) (427) (665) (1,116) (1,804) +31.3%
Free cash flow (84) (5) 103 (92) (329) (224) (95) (136) (390) (842) (1,407) +29.1%
Balance, $m
Balance, $m Working capital 119 380 362 109 (10) 23 104 (227) (346) (142) (52) n/m
Net debt (85) 15 25 225 533 986 1,080 768 1,530 2,150 2,626 n/m
Shareholders’ equity 886 799 780 751 1,057 1,193 1,012 918 948 980 706 +1.1%
Returns, %
Returns, % ROA (5.27) (7.17) (1.90) (1.43) (16.54) 2.38 (2.99) (9.10) 0.58 (0.68) (5.40) +4.6 pt
ROIC (9.45) (16.14) 2.68 1.68 0.70 0.10 0.52 (10.29) 2.31 2.23 2.30 +11.7 pt
ROE (12.10) (14.09) (3.78) (3.42) (50.39) 7.51 (10.20) (38.59) 2.69 (3.81) (42.08) +8.3 pt
People
People Employees 3,162 2,267 2,220 2,295 2,599 3,221 3,293 3,038 2,581 2,784 — (1.4%)
Revenue/emp, $m 0.17 0.23 0.22 0.24 0.28 0.30 0.31 0.34 0.44 0.51 — +13.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

VNET Group, Inc. - Unsponsored ADR vs peers in Information Technology Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
INOD Innodata Inc $1.3B 25.7× 36.1× +57.80% (above 0%: growing) +86.96% (above 0%: growing) +4,885.72% (above 0%: growing) 46.08% 17.21% Compare
GDYN Grid Dynamics Holdings, Inc. $1.1B 146× 79.6× +9.73% (above 0%: growing) +449.64% (above 0%: growing) +349.88% (above 0%: growing) 40.32% 7.99% Compare
BBAI BigBear.ai Holdings, Inc. $1.1B — (loss-making) — (loss-making) +31.49% (above 0%: growing) n/m +10.27% (above 0%: growing) 31.19% (229.36%) Compare
KEEL Keel Infrastructure Corp $1.0B — (loss-making) — (loss-making) −50.04% (below 0%: shrinking) n/m −772.56% (below 0%: shrinking) (285.09%) (462.62%) Compare
NABL N-able, Inc. $929.4M — (loss-making) 64.8× +4.36% (above 0%: growing) n/m −19.43% (below 0%: shrinking) 74.86% 11.20% Compare
VNET VNET Group, Inc. - Unsponsored ADR $880.6M — (loss-making) — (loss-making) +20.52% (above 0%: growing) n/m +17.45% (above 0%: growing) 18.18% 8.25%
TASK TaskUs, Inc. $841.7M 8.1× 8.7× +5.37% (above 0%: growing) −17.14% (below 0%: shrinking) −47.51% (below 0%: shrinking) 34.59% 11.60% Compare
SHAZ SharonAI Holdings Inc. $700.3M — (loss-making) — (loss-making) +494.09% (above 0%: growing) n/m −64,884.87% (below 0%: shrinking) 60.56% (1,283.22%) Compare
IBEX IBEX Limited $573.8M 13.6× 7.8× +15.91% (above 0%: growing) +23.33% (above 0%: growing) +14.07% (above 0%: growing) 30.40% 10.44% Compare
Median of peers $974.7M 19.6× 36.1× +12.82% +55.15% −4.58% 37.46% 9.22%

All 81 Information Technology Services stocks →

VNET Group, Inc. - Unsponsored ADR (VNET) Latest News

5 Nov

Impact 3 · · Simply Wall St.

27 Oct

Impact 3 · · PR Newswire

19 Oct

Impact 3 · · Simply Wall St.

1 Oct

Impact 3 · · Simply Wall St.

21 Sep

Impact 4 · · PR Newswire

27 Aug

Impact 3 ·

21 Aug

Impact 4 ·

18 Aug

Impact 4 · transcript
Impact 4 · · MarketBeat
Impact 4 ·
Impact 3 ·
Impact 3 ·

17 Jun

Impact 3 ·

11 Jun

Impact 3 · · Simply Wall St.

1 Jun

Impact 3 · · Simply Wall St.

26 May

Impact 4 · · GuruFocus.com transcript
Impact 3 · · MarketBeat
Impact 3 · · PR Newswire

14 May

Impact 3 · · Simply Wall St.

13 May

Impact 4 · · PR Newswire

11 May

Impact 4 · · Simply Wall St.

16 Apr

Impact 4 · · Insider Monkey

3 Apr

Impact 4 · · Simply Wall St.

1 Apr

Impact 4 · · Insider Monkey

18 Mar

Impact 4 · · Simply Wall St.

16 Mar

Impact 4 · · GuruFocus.com
Impact 4 · · MarketBeat
Impact 4 · · PR Newswire
Impact 3 · · GuruFocus.com
Impact 3 · · Zacks
stockrow.com/VNET · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com