What is VNET Group, Inc.'s earnings per share (EPS)?

VNET Group, Inc. (VNET) reported diluted earnings per share of -$0.02 for fiscal year 2025. 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.

VNET Group, Inc. (VNET) Financials

VNET

FY2025 annual

Net Income -$36.0M -243.5% YoY

EPS (Diluted) -$0.02 YoY not available

Free Cash Flow -$820.5M -105.2% YoY

Operating Cash Flow $274.4M -0.1% YoY

Market Cap $1.6B as of Oct 10, 2026

Price / Sales n/m no revenue reported

Price / Earnings n/m net loss, so no earnings multiple, FY2025

Price / Book 1.8x on $889.2M equity, Q4 FY2025

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Apr 16, 2026 Currency USD FYE December

Newest figures come from the 20-F for FY2025, filed Apr 16, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the VNET SEC filings page.

This page shows VNET Group, Inc. (VNET) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI VNET FY2025 2026-10-03

VNET’s expansion is increasingly funded with liabilities: operating cash remains positive, but heavy investment keeps free cash flow deeply negative.

Operating cash flow was essentially flat at $274.4M in FY2025 versus $274.7M in FY2024, showing that the core cash contribution did not expand with the balance sheet. That stability did not translate into cash after reinvestment: FY2025 capital spending reached $1.1B, leaving free cash flow at -$820.5M and making reinvestment the dominant cash-flow constraint.

Assets expanded to $6.4B in FY2025 from $4.4B in FY2024, while equity remained broadly flat. Debt-to-equity rose to 5.8x from 4.0x, indicating a more obligation-heavy structure as the asset base scaled.

The return to a $111.6M operating profit in FY2025 did not reach the bottom line: net income was a net loss of $36.0M, demonstrating that operating profitability and reported earnings diverged. Interest expense reached $85.6M, while reported tax expense was $79.7M, so below-operating items consumed the operating result.

Financial Health Signals

Financial health score not available

VNET Group, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

3/5

VNET Group, Inc. passes 3 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 1 leverage/liquidity signals pass.

Earnings Quality Mixed

N/A

VNET Group, Inc. reported a net loss of $36.0M while generating $274.4M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Interest Coverage At Risk

1.30x

VNET Group, Inc. earns $1.30 in operating income for every $1 of interest expense ($111.6M vs $85.6M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Earnings & Revenue

None of these metrics is reported for Q4 2025.

Cash & Balance Sheet

Cash & Debt

$789.9M

YoY+286.3%

QoQ+286.3%

VNET Group, Inc. held $789.9M in cash as of Q4 2025; long-term debt is not reported for that period.

Free Cash Flow

Not reported for Q4 2025.

Dividends Per Share

Not reported for Q4 2025.

Shares Outstanding

Not reported for Q4 2025.

Margins & Returns

None of these metrics is reported for Q4 2025.

Capital Allocation

None of these metrics is reported for Q4 2025.

VNET Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

VNET quarterly income statement

Metric	FY2520-F	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	$544.3M+10.0%	$494.7M-5.1%	$521.4M-0.6%	$524.5M-6.5%	$561.0M+21.0%	$463.6M+42.7%	$324.9M+32.8%	$244.6M+50.8%	$162.2M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	$409.3M+14.6%	$357.2M-11.8%	$404.9M-4.0%	$422.0M-1.7%	$429.3M+28.9%	$333.0M+39.1%	$239.5M+35.8%	$176.3M+49.1%	$118.3M
Gross Profit	$313.5M+24.9%	$251.0M+37.9%	$182.0M-7.6%	$196.9M-12.7%	$225.7M+36.8%	$164.9M+22.2%	$134.9M-1.8%	$137.4M+17.9%	$116.6M+13.6%	$102.6M-22.2%	$131.8M+0.9%	$130.6M+52.9%	$85.4M+25.0%	$68.3M+55.5%	$43.9M
R&D Expenses	$37.3M+10.5%	$33.8M-25.6%	$45.4M+2.0%	$44.5M+50.4%	$29.6M+71.0%	$17.3M+35.7%	$12.8M-4.8%	$13.4M-41.6%	$22.9M+6.6%	$21.5M-2.5%	$22.1M+12.4%	$19.6M+52.5%	$12.9M+25.3%	$10.3M+86.4%	$5.5M
SG&A Expenses	$114.0M+26.2%	$90.3M+18.3%	$76.3M-18.1%	$93.2M-29.5%	$132.2M+61.2%	$82.0M+37.5%	$59.7M-11.3%	$67.3M-15.8%	$79.9M-13.3%	$92.1M-0.7%	$92.8M+16.7%	$79.5M+157.5%	$30.9M+25.3%	$24.6M+87.0%	$13.2M
Operating Income	$111.6M+21.7%	$91.7M+133.0%	-$277.6M-1680.4%	$17.6M+425.1%	$3.3M-81.3%	$17.9M-31.7%	$26.2M-24.2%	$34.5M+116.4%	-$210.3M-73.8%	-$121.0M-175.8%	-$43.9M-137.3%	-$18.5M-367.9%	$6.9M-46.9%	$13.0M+448.6%	$2.4M
EBITDA	$415.6M+33.8%	$310.7M+1448.6%	-$23.0M-109.3%	$249.0M+23.1%	$202.3M+19.4%	$169.4M+23.6%	$137.1M+8.1%	$126.8M+217.6%	-$107.8M-325.0%	-$25.4M-154.4%	$46.6M-0.9%	$47.1M+17.7%	$40.0M+19.1%	$33.6M+103.3%	$16.5M
Interest Expense	$85.6M+55.8%	$54.9M+24.9%	$44.0M+11.0%	$39.6M-24.6%	$52.6M-9.9%	$58.3M+17.4%	$49.7M+44.7%	$34.3M+20.5%	$28.5M-0.4%	$28.6M-32.4%	$42.3M+13.2%	$37.4M+65.5%	$22.6M+1137.3%	$1.8M+161.2%	$699K
Income Tax	$79.7M+148.4%	$32.1M+99.2%	$16.1M-16.7%	$19.4M+10.7%	$17.5M+4.3%	$16.8M+2045.5%	$781K-78.0%	$3.5M+125.6%	-$13.9M-762.4%	-$1.6M-121.8%	$7.4M+174.8%	$2.7M+57.6%	$1.7M-70.6%	$5.8M+167.1%	$2.2M
Net Income	-$36.0M-243.5%	$25.1M+106.7%	-$372.4M-231.0%	-$112.5M-243.4%	$78.5M+118.9%	-$415.2M-1485.9%	-$26.2M+12.2%	-$29.8M+74.9%	-$118.8M-30.1%	-$91.3M-38.1%	-$66.1M-17.7%	-$56.2M-605.2%	-$8.0M-188.1%	$9.0M+208.5%	$2.9M
EPS (Basic)	-$0.02-200.0%	$0.02+104.9%	-$0.41-215.4%	-$0.13-244.4%	$0.09+113.0%	-$0.69-1625.0%	-$0.040.0%	-$0.04+81.0%	-$0.21-5.0%	-$0.20-53.8%	-$0.13+7.1%	-$0.14-600.0%	-$0.02-166.7%	$0.03+200.0%	$0.01
EPS (Diluted)	-$0.02	$0.00+100.0%	-$0.41-215.4%	-$0.13-116.7%	-$0.06+91.3%	-$0.69-1625.0%	-$0.040.0%	-$0.04+81.0%	-$0.21-5.0%	-$0.20-53.8%	-$0.13+7.1%	-$0.14-600.0%	-$0.02-166.7%	$0.03+200.0%	$0.01
Diluted Shares (Avg)	1.61B-7.5%	1.74B+93.3%	901M+1.6%	887M-2.7%	912M+27.2%	717M+7.2%	669M-0.9%	675M+0.3%	673M+9.0%	617M+25.4%	492M+22.6%	401M+10.1%	364M+2.1%	357M+12.6%	317M

Metric	Q4'2520-F	Q4'2410-K	Q3'2410-Q	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q4'1910-K
EPS (Basic)	N/A	$0.00	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	$0.00	N/A	N/A	N/A	N/A	N/A	N/A

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, Diluted Shares (Avg).

VNET Balance Sheet

VNET quarterly balance sheet

Metric	FY2520-F	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$6.4B+43.9%	$4.4B+3.6%	$4.3B+9.5%	$3.9B+7.8%	$3.6B+22.1%	$3.0B+44.8%	$2.1B+26.4%	$1.6B+6.5%	$1.5B-14.9%	$1.8B+6.7%	$1.7B+7.9%	$1.6B+53.4%	$1.0B+112.0%	$477.8M+25.2%	$381.8M
Current Assets	$1.6B+75.3%	$934.4M-32.5%	$1.4B+35.3%	$1.0B+22.4%	$835.5M-10.0%	$928.1M+23.6%	$751.0M+10.4%	$680.4M+4.3%	$652.5M-12.9%	$749.2M+39.4%	$537.5M+16.3%	$462.0M-22.4%	$595.4M+193.7%	$202.8M-17.7%	$246.5M
Cash & Equivalents	$789.9M+286.3%	$204.5M-35.3%	$316.0M-18.1%	$385.9M+79.2%	$215.4M-48.2%	$415.4M+59.9%	$259.8M-24.3%	$343.0M+14.5%	$299.7M+50.3%	$199.4M-17.8%	$242.7M+144.0%	$99.5M-57.7%	$235.1M+229.3%	$71.4M+8.4%	$65.9M
Short-Term Investments	$54.2M	$0-100.0%	$50.3M	$0	$0-100.0%	$43.8M-16.2%	$52.3M+46.7%	$35.6M-57.8%	$84.4M+110.7%	$40.0M+147.2%	$16.2M-89.0%	$146.9M-19.3%	$182.0M+409.2%	$35.7M-74.8%	$142.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$267K+145.0%	$109K-82.9%	$638K-69.5%	$2.1M+28.9%	$1.6M	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$100.8M+114.1%	$47.1M+100.8%	$23.5M
Long-Term Investments	$152.0M+39.6%	$108.9M+2.0%	$106.8M+204.0%	$35.1M+127.8%	$15.4M-25.8%	$20.8M-14.8%	$24.4M-69.2%	$79.2M+0.8%	$78.5M+82.4%	$43.0M+40.2%	$30.7M+50.8%	$20.4M+15.5%	$17.6M+90.7%	$9.2M+609.5%	$1.3M
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-1.2%	$143.9M-46.7%	$269.9M+6.7%	$252.9M-6.7%	$271.1M+309.7%	$66.2M+38.9%	$47.6M+37.8%	$34.5M
Total Liabilities	$5.2B+47.8%	$3.5B+3.6%	$3.4B+16.1%	$2.9B+19.1%	$2.4B+27.2%	$1.9B+47.2%	$1.3B+54.3%	$841.8M+16.3%	$723.5M-9.8%	$802.3M-13.9%	$932.3M-12.9%	$1.1B+77.2%	$604.0M+246.0%	$174.6M+49.9%	$116.5M
Current Liabilities	$1.8B+39.1%	$1.3B-20.5%	$1.6B+75.5%	$918.1M+12.9%	$812.9M-13.4%	$938.2M+46.2%	$641.9M+101.4%	$318.7M+16.8%	$272.9M-56.7%	$630.0M+44.6%	$435.6M-9.6%	$481.8M+174.8%	$175.3M+34.8%	$130.0M+77.0%	$73.5M
Non-Current Liabilities	$3.4B+53.0%	$2.2B+25.9%	$1.8B-11.4%	$2.0B+22.1%	$1.6B+66.2%	$973.8M+48.3%	$656.9M+25.6%	$523.1M+16.1%	$450.6M+161.4%	$172.4M-65.3%	$496.7M-15.6%	$588.3M+37.3%	$428.6M+862.5%	$44.5M+3.6%	$43.0M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$10.1M	N/A
Total Equity	$889.2M+2.0%	$872.1M+3.0%	$847.1M-11.6%	$958.3M-15.7%	$1.1B+13.0%	$1.0B+41.4%	$711.5M-4.0%	$740.9M-4.5%	$776.1M-12.0%	$882.2M+42.3%	$619.8M+74.6%	$355.0M-12.6%	$406.2M+35.3%	$300.3M+14.4%	$262.6M
Retained Earnings	-$1.6B-6.9%	-$1.5B+4.1%	-$1.6B-27.9%	-$1.2B-1.9%	-$1.2B-7.4%	-$1.1B-91.2%	-$580.1M-3.9%	-$558.2M-0.1%	-$557.8M-35.0%	-$413.2M-19.8%	-$344.9M-19.2%	-$289.3M-22.5%	-$236.1M-7.2%	-$220.2M+2.3%	-$225.3M

Metric	Q4'2520-F	Q4'2410-K	Q3'2410-Q	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q4'1910-K
Total Assets	$6.4B+43.9%	$4.4B+3.6%	$4.3B	$4.3B+9.5%	$3.9B+7.8%	$3.6B+22.1%	$3.0B+44.8%	$2.1B+26.4%
Current Assets	$1.6B+75.3%	$934.4M-32.5%	$989.3M	$1.4B+35.3%	$1.0B+22.4%	$835.5M-10.0%	$928.1M+23.6%	$751.0M+10.4%
Cash & Equivalents	$789.9M+286.3%	$204.5M-35.3%	$217.3M	$316.0M-18.1%	$385.9M+79.2%	$215.4M-48.2%	$415.4M+59.9%	$259.8M-24.3%
Short-Term Investments	$54.2M	$0-100.0%	$2.3M	$50.3M	$0	$0-100.0%	$43.8M-16.2%	$52.3M+46.7%
Long-Term Investments	$152.0M+39.6%	$108.9M+2.0%	$113.8M	$106.8M+204.0%	$35.1M+127.8%	$15.4M-25.8%	$20.8M-14.8%	$24.4M-69.2%
Goodwill	N/A	N/A	N/A	N/A	$197.8M+1.8%	$194.2M+24.4%	$156.1M+3.0%	$151.7M+6.7%
Total Liabilities	$5.2B+47.8%	$3.5B+3.6%	$3.3B	$3.4B+16.1%	$2.9B+19.1%	$2.4B+27.2%	$1.9B+47.2%	$1.3B+54.3%
Current Liabilities	$1.8B+39.1%	$1.3B-20.5%	$1.2B	$1.6B+75.5%	$918.1M+12.9%	$812.9M-13.4%	$938.2M+46.2%	$641.9M+101.4%
Non-Current Liabilities	$3.4B+53.0%	$2.2B+25.9%	$2.1B	$1.8B-11.4%	$2.0B+22.1%	$1.6B+66.2%	$973.8M+48.3%	$656.9M+25.6%
Total Equity	$889.2M+2.0%	$872.1M+3.0%	$902.9M	$847.1M-11.6%	$958.3M-15.7%	$1.1B+13.0%	$1.0B+41.4%	$711.5M-4.0%
Retained Earnings	-$1.6B-6.9%	-$1.5B+4.1%	-$1.5B	-$1.6B-27.9%	-$1.2B-1.9%	-$1.2B-7.4%	-$1.1B-91.2%	-$580.1M-3.9%

Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Long-Term Debt.

VNET Cash Flow Statement

VNET quarterly cash flow statement

Metric	FY2520-F	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$274.4M-0.1%	$274.7M-5.5%	$290.6M-17.9%	$353.8M+62.4%	$217.8M+99.0%	$109.5M-5.1%	$115.3M+12.5%	$102.5M+65.8%	$61.8M+413.3%	$12.0M-64.0%	$33.5M-36.2%	$52.4M+391.9%	$10.7M-61.8%	$27.9M+5.8%	$26.4M
Depreciation & Amortization	$304.0M+38.8%	$219.0M-14.0%	$254.6M+10.0%	$231.4M+16.3%	$198.9M+31.2%	$151.6M+36.6%	$110.9M+20.2%	$92.3M-10.0%	$102.5M+7.2%	$95.6M+5.7%	$90.5M+38.1%	$65.5M+98.2%	$33.1M+60.8%	$20.6M+45.5%	$14.1M
Stock-Based Compensation	$3.7M-81.9%	$20.4M+309.4%	$5.0M-71.0%	$17.1M-65.9%	$50.2M+139.5%	$21.0M+232.4%	$6.3M-27.2%	$8.7M+19.5%	$7.2M-57.6%	$17.1M-41.7%	$29.3M-22.1%	$37.7M+236.5%	$11.2M+3.1%	$10.9M+62.8%	$6.7M
Capital Expenditures	$1.1B+62.3%	$674.5M+61.4%	$418.0M-3.8%	$434.3M+2.8%	$422.4M+11.4%	$379.1M+111.3%	$179.4M+183.4%	$63.3M+4.0%	$60.9M-26.4%	$82.7M-49.1%	$162.4M+25.9%	$129.0M+86.3%	$69.2M-3.4%	$71.7M+76.5%	$40.6M
Free Cash Flow	-$820.5M-105.2%	-$399.8M-214.0%	-$127.3M-58.1%	-$80.5M+60.6%	-$204.6M+24.1%	-$269.6M-320.9%	-$64.1M-263.3%	$39.2M+3940.6%	$971K+101.4%	-$70.7M+45.2%	-$129.0M-68.4%	-$76.6M-30.7%	-$58.6M-33.8%	-$43.8M-207.5%	-$14.2M
Investing Cash Flow	-$1.1B-90.5%	-$601.5M-9.4%	-$550.0M-6.6%	-$516.0M+12.8%	-$592.0M+0.7%	-$596.0M-157.4%	-$231.6M-422.3%	-$44.3M	N/A	N/A	N/A	N/A	N/A	-$28.2M+86.0%	-$201.5M
Financing Cash Flow	$1.5B+1799.7%	-$86.0M-115.5%	$555.1M+66.6%	$333.2M+119.4%	$151.8M-76.2%	$638.0M+862.3%	$66.3M+2389.4%	-$2.9M	N/A	N/A	N/A	N/A	N/A	$3.8M-98.3%	$229.4M
Share Buybacks	$2.5M	N/A	N/A	N/A	$267.1M+1235.5%	$20.0M+1075.5%	$1.7M	N/A	$20.5M+233.0%	$6.1M+106.1%	$3.0M-91.3%	$34.4M+248.5%	$9.9M	N/A	$30.2M

Metric	Q4'2520-F	Q4'2410-K	Q3'2410-Q	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q4'1910-K
Operating Cash Flow	N/A	$70.5M	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	$185.7M	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	-$115.2M	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	-$172.0M	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	$115.3M	N/A	N/A	N/A	N/A	N/A	N/A

Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Dividends Paid, Share Buybacks.

VNET Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

VNET quarterly financial ratios

Metric	FY2520-F	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	24.8%-3.0pp	27.8%+5.4pp	22.4%+2.8pp	19.6%-3.9pp	23.5%-4.7pp	28.2%+1.9pp	26.3%-1.7pp	27.9%+0.8pp	27.1%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	4.8%-2.2pp	7.0%+47.3pp	-40.3%-17.3pp	-23.1%-15.2pp	-7.8%-3.8pp	-4.0%-6.1pp	2.1%-3.2pp	5.3%+3.9pp	1.5%
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	-4.8%+1.2pp	-6.0%+16.8pp	-22.8%-5.4pp	-17.4%-5.6pp	-11.8%+0.3pp	-12.1%-9.7pp	-2.5%-6.1pp	3.7%+1.9pp	1.8%
Return on Equity	-4.0%-6.9pp	2.9%+46.8pp	-44.0%-32.2pp	-11.7%-18.6pp	6.9%+48.2pp	-41.3%-37.6pp	-3.7%+0.4pp	-4.0%+11.3pp	-15.3%-5.0pp	-10.3%+0.3pp	-10.7%+5.2pp	-15.8%-13.9pp	-2.0%-5.0pp	3.0%+1.9pp	1.1%
Return on Assets	-0.6%-1.1pp	0.6%+9.3pp	-8.7%-5.8pp	-2.9%-5.1pp	2.2%+16.2pp	-14.0%-12.7pp	-1.3%+0.6pp	-1.8%+6.0pp	-7.8%-2.7pp	-5.1%-1.2pp	-3.9%-0.3pp	-3.6%-2.8pp	-0.8%-2.7pp	1.9%+1.1pp	0.8%
Current Ratio	0.92+0.2x	0.73-0.1x	0.86-0.3x	1.11+0.1x	1.030.0x	0.99-0.2x	1.17-1.0x	2.13-0.3x	2.39+1.2x	1.190.0x	1.23+0.3x	0.96-2.4x	3.40+1.8x	1.56-1.8x	3.35
Debt-to-Equity	5.79+1.8x	4.000.0x	3.97+0.9x	3.02+0.9x	2.14+0.2x	1.90+0.1x	1.83+0.7x	1.14+0.2x	0.930.0x	0.91-0.6x	1.50-1.5x	3.01+1.5x	1.49+1.5x	0.03-0.4x	0.44
Asset Turnover	N/A	N/A	N/A	N/A	N/A	N/A	0.270.0x	0.300.0x	0.340.0x	0.290.0x	0.330.0x	0.300.0x	0.32-0.2x	0.51+0.1x	0.42
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	-11.8%-19.7pp	7.9%+7.7pp	0.2%+13.7pp	-13.5%+9.5pp	-23.0%-6.5pp	-16.5%+1.5pp	-18.0%-0.1pp	-17.9%-9.1pp	-8.8%

Metric	Q4'2520-F	Q4'2410-K	Q3'2410-Q	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q4'1910-K
Current Ratio	0.92+0.2x	0.73-0.1x	0.83	0.86-0.3x	1.11+0.1x	1.030.0x	0.99-0.2x	1.17-1.0x
Debt-to-Equity	5.79+1.8x	4.000.0x	3.64	3.97+0.9x	3.02+0.9x	2.14+0.2x	1.90+0.1x	1.83+0.7x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.

Note: The current ratio is below 1.0 (0.92), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
VNET Group, Inc. VNET	FY2025	N/A	-$36.0M	N/A	$1.6B	—
DXC Technology Company DXC	FY2026	$12.6B	$18.0M	0.1%	$2.0B	54/100
ASGN Incorporated ASGN	FY2025	$4.0B	$113.5M	2.9%	$806.6M	49/100
GLOBANT S.A. GLOB	FY2025	$2.5B	$104.0M	4.2%	$1.6B	44/100
Formula Systems 1985 Ltd FORTY	FY2025	$2.6B	$669.1M	25.5%	$1.8B	34/100
WNS (Holdings) Limited WNS	FY2025	$1.3B	$170.1M	12.9%	$3.3B	66/100

Where VNET Group, Inc. Ranks

Frequently Asked Questions

Is VNET Group, Inc. profitable?

No, VNET Group, Inc. (VNET) reported a net income of -$36.0M in fiscal year 2025.

What is VNET Group, Inc.'s EBITDA?

VNET Group, Inc. (VNET) had EBITDA of $415.6M in fiscal year 2025, 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 -4.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is VNET Group, Inc.'s free cash flow?

VNET Group, Inc. (VNET) recorded an outflow of $820.5M in free cash flow during fiscal year 2025. This represents a -105.2% 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 $274.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are VNET Group, Inc.'s total assets?

VNET Group, Inc. (VNET) had $6.4B in total assets as of fiscal year 2025, including both current and long-term assets.

What are VNET Group, Inc.'s capital expenditures?

VNET Group, Inc. (VNET) invested $1.1B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does VNET Group, Inc. spend on research and development?

VNET Group, Inc. (VNET) invested $37.3M in research and development during fiscal year 2025.

Does VNET Group, Inc. buy back shares?

Yes, VNET Group, Inc. (VNET) spent $2.5M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is VNET Group, Inc.'s current ratio?

VNET Group, Inc. (VNET) had a current ratio of 0.92 as of fiscal year 2025, 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 5.79 as of fiscal year 2025, 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 2025, measuring how efficiently the company uses its assets to generate profit.

What is VNET Group, Inc.'s P/E ratio?

VNET Group, Inc. (VNET) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $1.6B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is VNET Group, Inc.'s price-to-sales ratio?

VNET Group, Inc. (VNET) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $1.6B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is VNET Group, Inc.'s Piotroski F-Score?

VNET Group, Inc. (VNET) has a Piotroski F-Score of 3 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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) reported a net loss of $36.0M while generating $274.4M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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 1.30x, 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.