VNET GROUP INC Financials
Financial Health Signals
VNET GROUP INC passes 4 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
For every $1 of reported earnings, VNET GROUP INC generates $10.95 in operating cash flow ($274.7M OCF vs $25.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
VNET GROUP INC earns $1.7 in operating income for every $1 of interest expense ($91.7M vs $54.9M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
This page shows VNET GROUP INC (VNET) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
VNET GROUP INC's EBITDA was $310.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 1448.6% from the prior year.
VNET GROUP INC generated -$399.8M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 214.0% from the prior year.
VNET GROUP INC reported $25.1M in net income in fiscal year 2024. This represents an increase of 106.7% from the prior year.
VNET GROUP INC earned $0.00 per diluted share (EPS) in fiscal year 2024. This represents an increase of 100.0% from the prior year.
VNET GROUP INC held $204.5M in cash against $0 in long-term debt as of fiscal year 2024.
VNET GROUP INC's ROE was 2.9% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.
VNET GROUP INC invested $33.8M in research and development in fiscal year 2024. This represents a decrease of 25.6% from the prior year.
VNET GROUP INC invested $674.5M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 61.4% from the prior year.
VNET Income Statement
| Metric | Q4'24 | Q3'24 | Q4'23 | Q4'22 | Q4'21 | Q4'20 | Q4'19 | Q4'18 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
VNET Balance Sheet
| Metric | Q4'24 | Q3'24 | Q4'23 | Q4'22 | Q4'21 | Q4'20 | Q4'19 | Q4'18 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.4B+4.0% | $4.3B-0.4% | $4.3B+9.5% | $3.9B+7.8% | $3.6B+22.1% | $3.0B+44.8% | $2.1B+26.4% | $1.6B |
| Current Assets | $934.4M-5.6% | $989.3M-28.5% | $1.4B+35.3% | $1.0B+22.4% | $835.5M-10.0% | $928.1M+23.6% | $751.0M+10.4% | $680.4M |
| Cash & Equivalents | $204.5M-5.9% | $217.3M-31.2% | $316.0M-18.1% | $385.9M+79.2% | $215.4M-48.2% | $415.4M+59.9% | $259.8M-24.3% | $343.0M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $267K |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | $197.8M+1.8% | $194.2M+24.4% | $156.1M+3.0% | $151.7M+6.7% | $142.1M |
| Total Liabilities | $3.5B+6.0% | $3.3B-2.2% | $3.4B+16.1% | $2.9B+19.1% | $2.4B+27.2% | $1.9B+47.2% | $1.3B+54.3% | $841.8M |
| Current Liabilities | $1.3B+7.4% | $1.2B-26.0% | $1.6B+75.5% | $918.1M+12.9% | $812.9M-13.4% | $938.2M+46.2% | $641.9M+101.4% | $318.7M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $872.1M-3.4% | $902.9M+6.6% | $847.1M-11.6% | $958.3M-15.7% | $1.1B+13.0% | $1.0B+41.4% | $711.5M-4.0% | $740.9M |
| Retained Earnings | -$1.5B+3.6% | -$1.5B+0.5% | -$1.6B-27.9% | -$1.2B-1.9% | -$1.2B-7.4% | -$1.1B-91.2% | -$580.1M-3.9% | -$558.2M |
VNET Cash Flow Statement
| Metric | Q4'24 | Q3'24 | Q4'23 | Q4'22 | Q4'21 | Q4'20 | Q4'19 | Q4'18 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $70.5M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Capital Expenditures | $185.7M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | -$115.2M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$172.0M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Financing Cash Flow | $115.3M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
VNET Financial Ratios
| Metric | Q4'24 | Q3'24 | Q4'23 | Q4'22 | Q4'21 | Q4'20 | Q4'19 | Q4'18 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Ratio | 0.73-0.1 | 0.83-0.0 | 0.86-0.3 | 1.11+0.1 | 1.03+0.0 | 0.99-0.2 | 1.17-1.0 | 2.13 |
| Debt-to-Equity | 4.00+0.4 | 3.64-0.3 | 3.97+0.9 | 3.02+0.9 | 2.14+0.2 | 1.90+0.1 | 1.83+0.7 | 1.14 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: The current ratio is below 1.0 (0.73), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
Is VNET GROUP INC profitable?
Yes, VNET GROUP INC (VNET) reported a net income of $25.1M in fiscal year 2024.
What is VNET GROUP INC's earnings per share (EPS)?
VNET GROUP INC (VNET) reported diluted earnings per share of $0.00 for fiscal year 2024. This represents a 100.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is VNET GROUP INC's EBITDA?
VNET GROUP INC (VNET) had EBITDA of $310.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is VNET GROUP INC's return on equity (ROE)?
VNET GROUP INC (VNET) has a return on equity of 2.9% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is VNET GROUP INC's free cash flow?
VNET GROUP INC (VNET) generated -$399.8M in free cash flow during fiscal year 2024. This represents a -214.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is VNET GROUP INC's operating cash flow?
VNET GROUP INC (VNET) generated $274.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are VNET GROUP INC's total assets?
VNET GROUP INC (VNET) had $4.4B in total assets as of fiscal year 2024, including both current and long-term assets.
What are VNET GROUP INC's capital expenditures?
VNET GROUP INC (VNET) invested $674.5M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does VNET GROUP INC spend on research and development?
VNET GROUP INC (VNET) invested $33.8M in research and development during fiscal year 2024.
What is VNET GROUP INC's current ratio?
VNET GROUP INC (VNET) had a current ratio of 0.73 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is VNET GROUP INC's debt-to-equity ratio?
VNET GROUP INC (VNET) had a debt-to-equity ratio of 4.00 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is VNET GROUP INC's return on assets (ROA)?
VNET GROUP INC (VNET) had a return on assets of 0.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is VNET GROUP INC's Piotroski F-Score?
VNET GROUP INC (VNET) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are VNET GROUP INC's earnings high quality?
VNET GROUP INC (VNET) has an earnings quality ratio of 10.95x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can VNET GROUP INC cover its interest payments?
VNET GROUP INC (VNET) has an interest coverage ratio of 1.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.