Saturday 17 October 2026
Export VNET’s income statement to Excel — free account
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. In the quarter to June 2026, revenue grew 20.5%, EPS fell 500.0%, free cash flow grew 17.5% and total debt rose 39.3%, each against the same quarter a year earlier. Revenue growth for five consecutive years.
3.92
0.48
−10.91%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
3 | 5 | 4 | 5 | 2 | 6 | 3 | 3 | 6 | 4 |
P/E ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 16.25 | 0.00 | 0.00 | 54.36 | 0.00 |
P/S ratio |
1.39 | 1.81 | 1.96 | 1.48 | 5.60 | 1.34 | 0.85 | 0.39 | 1.11 | 1.60 |
Altman Z-Score |
0.31 | 0.42 | 0.85 | 0.35 | 1.04 | 0.14 | 0.05 | (0.46) | (0.02) | 0.16 |
P/FCF ratio |
0.00 | 0.00 | 11.92 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Altman Z″-Score (non-manufacturers) |
0.26 | 0.67 | 1.46 | 0.12 | (0.62) | (0.51) | (0.44) | (1.68) | (1.18) | (0.65) |
P/Operating CF |
60.63 | 15.27 | 9.48 | 7.01 | 89.97 | 5.98 | 2.46 | 1.40 | 17.85 | 8.29 |
Beneish M-Score |
(2.81) | (3.49) | (2.85) | (2.31) | (3.11) | (2.02) | (2.86) | (3.23) | (2.77) | (2.43) |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 0 |
P/B ratio |
0.82 | 1.18 | 1.25 | 1.08 | 4.62 | 1.09 | 0.86 | 0.44 | 1.33 | 2.32 |
Price to Tangible BV |
1.56 | 1.68 | 1.73 | 1.56 | 6.86 | 1.65 | 1.70 | 0.64 | 1.93 | 3.99 |
EV/Sales |
1.23 | 1.84 | 2.01 | 1.90 | 6.32 | 2.36 | 1.91 | 1.12 | 2.46 | 3.11 |
EV/EBITDA |
0.00 | 0.00 | 17.76 | 19.30 | 27.61 | 23.86 | 26.85 | 0.00 | 19.38 | 39.64 |
EV/Operating CF |
13.51 | 11.41 | 5.34 | 4.34 | 42.74 | 6.94 | 2.95 | 2.45 | 4.63 | 7.68 |
EV/FCF |
(2.82) | (9.35) | 12.23 | (14.40) | (14.21) | (4.99) | (4.18) | (1.82) | (4.70) | (3.01) |
Quick Ratio |
1.00 | 1.87 | 1.61 | 0.81 | 0.68 | 0.63 | 0.77 | 0.65 | 0.43 | 0.74 |
Current Ratio |
1.19 | 2.39 | 2.13 | 1.17 | 0.99 | 1.03 | 1.11 | 0.86 | 0.73 | 0.92 |
Net Debt/EBITDA |
3.36 | (0.14) | 0.20 | 1.64 | 3.15 | 4.88 | 4.34 | (33.34) | 4.93 | 5.17 |
Debt/Assets |
23.73% | 28.64% | 27.27% | 29.53% | 34.83% | 34.58% | 38.74% | 35.90% | 40.82% | 48.42% |
Debt/Equity |
0.48 | 0.55 | 0.57 | 0.81 | 0.98 | 1.05 | 1.50 | 1.67 | 1.91 | 3.15 |
Asset Turnover |
0.30 | 0.31 | 0.31 | 0.30 | 0.29 | 0.29 | 0.27 | 0.26 | 0.26 | 0.26 |
Operating CF/Net income |
(0.13) | (0.52) | (3.44) | (4.40) | (0.26) | 2.78 | (3.14) | (0.78) | 10.95 | (7.47) |
Capex/Depreciation |
(1.01) | (0.65) | 0.00 | (1.87) | (2.89) | (2.22) | (1.94) | (1.68) | (3.04) | (3.67) |
Interest Coverage |
(4.23) | (7.39) | 1.01 | 0.53 | 0.31 | 0.06 | 0.44 | (6.31) | 1.67 | 1.30 |
| (12.10%) | (14.09%) | (3.78%) | (3.42%) | (50.39%) | 7.51% | (10.20%) | (38.59%) | 2.69% | (3.81%) | |
| (5.27%) | (7.17%) | (1.90%) | (1.43%) | (16.54%) | 2.38% | (2.99%) | (9.10%) | 0.58% | (0.68%) | |
ROIC |
(9.45%) | (16.14%) | 2.68% | 1.68% | 0.70% | 0.10% | 0.52% | (10.29%) | 2.31% | 2.23% |
Return on Tangible Assets |
(13.74%) | (13.35%) | (3.15%) | (2.94%) | (33.70%) | 4.89% | (6.12%) | (23.17%) | 1.25% | (1.18%) |
Average Days of Receivables |
84.00 | 61.33 | 69.73 | 92.37 | 69.75 | 92.81 | 98.97 | 98.14 | 88.05 | 97.27 |
Research and Development Expense of Revenue |
4.10% | 4.40% | 2.71% | 2.34% | 2.34% | 3.05% | 4.34% | 4.35% | 2.99% | 2.62% |
Selling, General and Administrative Expense of Revenue |
27.26% | 22.89% | 18.67% | 16.41% | 15.95% | 17.73% | 13.51% | 10.90% | 11.17% | 10.82% |
Intangible Assets out of Total Assets |
0.23 | 0.16 | 0.13 | 0.11 | 0.10 | 0.11 | 0.13 | 0.07 | 0.07 | 0.06 |
Share Based Compensation of Revenue |
3.26% | 1.39% | 1.75% | 1.16% | 2.83% | 5.17% | 1.67% | 0.48% | 1.80% | 0.26% |
Graham Net Nets |
(0.21) | (0.08) | (0.17) | (0.68) | (0.24) | (1.23) | (2.15) | (4.88) | (2.03) | (1.65) |
Graham Number |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 10.17 | 0.00 | 0.00 | 2.65 | 0.00 |
Earnings Yield |
(16.76%) | (14.10%) | (2.62%) | (2.94%) | (11.42%) | 6.15% | (12.20%) | (90.26%) | 1.84% | (2.01%) |
Free Cash Flow Yield |
(31.34%) | (10.86%) | 8.39% | (8.88%) | (7.94%) | (35.22%) | (53.51%) | (158.96%) | (47.11%) | (64.63%) |
Revenue per Share |
5.10 | 4.65 | 4.40 | 4.88 | 6.19 | 6.73 | 6.93 | 6.95 | 4.26 | 5.29 |
Operating CF per Share |
0.12 | 0.55 | 0.91 | 1.03 | 0.92 | 1.51 | 2.39 | 1.94 | 1.03 | 1.02 |
Capex per Share |
(0.94) | (0.60) | 0.00 | (1.86) | (3.67) | (3.06) | (3.04) | (2.84) | (2.50) | (4.15) |
Free Cash Flow per Share |
(0.82) | (0.04) | 0.91 | (0.83) | (2.76) | (1.55) | (0.64) | (0.91) | (1.47) | (3.13) |
Cash per Share |
4.96 | 3.76 | 3.71 | 3.42 | 4.19 | 1.85 | 2.93 | 5.12 | 1.05 | 3.49 |
Shareholders Equity per Share |
8.61 | 7.13 | 6.94 | 6.74 | 8.85 | 8.27 | 6.85 | 6.11 | 3.57 | 3.65 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
8.61 | 7.13 | 6.94 | 6.74 | 8.85 | 8.27 | 6.85 | 6.11 | 3.57 | 3.65 |
Free Cash Flow |
(84.27) | (4.91) | 102.53 | (92.29) | (329.18) | (224.05) | (94.86) | (135.98) | (389.93) | (841.61) |
Working Capital |
119.27 | 379.67 | 361.70 | 109.05 | (10.17) | 22.62 | 104.42 | (227.28) | (345.69) | (142.33) |
Capital Expenditures |
(96.31) | (66.75) | (68.47) | (207.62) | (438.65) | (441.85) | (448.66) | (426.61) | (664.67) | (1,115.96) |
Net Current Asset Value |
(153.91) | (70.95) | (161.36) | (547.83) | (984.01) | (1,595.88) | (1,872.39) | (1,978.63) | (2,550.39) | (3,759.33) |
EV/EBIT |
0.00 | 0.00 | 28.86 | 39.46 | 261.78 | 684.22 | 111.15 | 0.00 | 30.41 | 39.64 |
Capex to Sales |
0.18 | 0.13 | 0.00 | 0.38 | 0.59 | 0.45 | 0.44 | 0.41 | 0.59 | 0.78 |
Price to Operating Income |
0.00 | 0.00 | 28.13 | 30.87 | 231.93 | 389.35 | 49.65 | 0.00 | 13.73 | 20.37 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.18 | 0.20 | 0.16 | 0.14 | 0.12 | 0.13 | 0.13 | 0.14 | 0.09 | 0.09 |
Cash ROIC |
(4.63%) | (0.30%) | 6.25% | (5.31%) | (12.70%) | (8.26%) | (3.21%) | (4.22%) | (12.84%) | (16.81%) |
Accounts Receivable Turnover |
4.30 | 5.01 | 5.43 | 4.69 | 5.30 | 5.00 | 3.90 | 3.74 | 4.09 | 4.36 |
Accounts Payable Turnover |
5.60 | 7.03 | 7.48 | 8.17 | 13.09 | 12.24 | 9.15 | 8.56 | 9.02 | 10.91 |
Inventory Turnover |
309.35 | 1,084.03 | 1,900.19 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
65.98 | 35.04 | 57.88 | 38.83 | 28.14 | 37.91 | 45.64 | 41.52 | 40.28 | 34.91 |
Days of Inventory on Hand |
0.55 | 0.10 | 0.27 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
122.05 | 104.16 | 91.06 | 116.11 | 139.57 | 194.20 | 262.38 | 279.25 | 276.84 | 326.06 |
Average Payables |
75.39 | 57.57 | 47.76 | 50.10 | 43.95 | 60.90 | 90.45 | 100.76 | 97.61 | 101.63 |
Average Inventory |
1.36 | 0.37 | 0.19 | — | — | — | — | — | — | — |
Average Assets |
1,733.08 | 1,655.96 | 1,572.33 | 1,836.05 | 2,509.72 | 3,296.64 | 3,765.63 | 4,093.46 | 4,356.33 | 5,404.89 |
Average Common Equity |
754.37 | 842.65 | 789.71 | 765.76 | 824.02 | 1,044.66 | 1,102.52 | 964.90 | 932.84 | 964.05 |
Columns are period end dates