MARKETS / NASDAQ / VNET
NASDAQ · SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. · LARGE CAP

Vnet Group, Inc. VNET

17 fiscal years on record · CNY · FY2025 reported
SEC FILINGS ONLY
EPS · FY25
Dividend / sh · FY25
Payout · FY25
ROE · FY25
-4.0%
Net margin · FY25
Dividend coverage
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Result
Revenue, FY2025 · full 17-year series below
Revenue Net income
1234-0.32009201220152018202120242025
1234-0.32016201920222025

Per share
Diluted EPS, FY2025
EPS
0.40.81.22009201220152018202120242025
0.40.81.22016201920222025

The company pays no cash dividend.

Profitability
-4.0%
Return on equity, FY2025
ROE
2468-4.0%2009201220152018202120242025
2468-4.0%2016201920222025
Operating margin
Net margin
Return on assets-0.7%

Each CNY of equity lost 4 cents this year.

Returned to shareholders
CNY 17.2M
returned in FY2025 · dividends + net buybacks
Dividends paid
Net buybacksCNY 17.2M
Share of profit-6.8%
Consecutive raises

CNY 17.2M in buybacks went back to shareholders in a year without profit.

Growth
+5.7% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
+1.3%
+5.7%
+28.3%

Compound annual rates per period — left blank where the series crosses a loss.

Share base
Shares outstanding, FY2025
Change, 5 years
Change, 10 years

A share split breaks the comparison across the period, so we leave it out.

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Balance sheet
CNY 44.6B
total assets, end of FY2025
Total assetsCNY 44.6B
EquityCNY 6.2B
CashCNY 5.5B
Gross debtCNY 16.9B
Net debtCNY 11.3B
Current ratio0.92×

Net debt stands at 182% of equity.

History
17 fiscal years
Every figure from documents filed with the SEC · CNY
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
Revenue ¥B
·
·
·
·
·
·
3.8
3.4
3.4
3.6
3.6
2.9
2.0
1.5
1.0
0.5
0.3
Operating income ¥B
0.8
0.7
−2.0
0.1
0.0
0.1
0.2
0.2
−1.4
−0.8
−0.3
−0.1
0.0
0.1
0.0
−0.2
0.0
EBITDA ¥B
2.9
2.3
−0.2
1.7
1.3
1.1
1.0
0.9
−0.7
−0.4
0.1
0.2
0.2
0.2
0.1
−0.2
0.0
Income tax ¥B
0.6
0.2
0.1
0.1
0.1
0.1
0.0
0.0
−0.1
−0.0
0.0
0.0
0.0
0.0
0.0
0.0
−0.0
Net income ¥B
−0.3
0.2
−2.6
−0.8
0.5
−2.7
−0.2
−0.2
−0.8
−0.6
−0.4
−0.3
−0.0
0.1
0.0
−0.3
−0.0
EPS, diluted ¥
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
Dividend / sh ¥
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
Payout %
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
ROE %
−4.0
3.0
−41.9
−11.2
7.2
−47.0
−3.6
−4.0
−13.8
−12.5
−13.8
−14.9
−2.2
3.2
4.5
·
·
Shares out B
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·

Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.

How we verifyAUDITED
56 of 60
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity

Every figure was compared against the original statement: 1 failures and 3 presentation gaps.

What we don’t show

We’d rather say what’s missing than fill the gap with an estimate.

P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed