VNET Group Inc DRC (VNET) financial statements

Technology · Information Technology Services · Market cap $1.4B

Net income was -252M CNY.

Free cash flow was -5.7B CNY, and the company returned 17M CNY in net buybacks.

The diluted share count rose 161% over the period (dilution).

Revenue and free cash flow

Fiscal years, $ billions (CNY).

-7.5-5-2.502.552016201720182019202020212022202320242025RevenueFree cash flow
Embed this chart

Free to use in articles and newsletters with the source line. Paste this HTML:

Income statement

Fiscal years, in CNY, from VNET Group Inc DRC's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Revenue3.6B CNY3.4B CNY3.4B CNY3.8B CNY——————
Cost of revenue2.9B CNY2.6B CNY2.5B CNY2.8B CNY——————
Gross profit712M CNY758M CNY945M CNY939M CNY1.1B CNY1.4B CNY1.4B CNY1.3B CNY1.8B CNY2.2B CNY
Research and development149M CNY149M CNY92M CNY89M CNY113M CNY188M CNY307M CNY322M CNY247M CNY261M CNY
Selling, general and admin993M CNY777M CNY635M CNY622M CNY770M CNY1.1B CNY955M CNY808M CNY923M CNY1.1B CNY
Operating income-840M CNY-1.4B CNY237M CNY182M CNY117M CNY21M CNY121M CNY-2.0B CNY669M CNY780M CNY
Interest expense199M CNY185M CNY236M CNY346M CNY381M CNY335M CNY273M CNY312M CNY401M CNY599M CNY
Pre-tax income-943M CNY-1.0B CNY-162M CNY-176M CNY-2.6B CNY627M CNY-629M CNY-2.5B CNY483M CNY424M CNY
Income tax-11M CNY-90M CNY24M CNY5M CNY109M CNY111M CNY133M CNY114M CNY234M CNY558M CNY
Net income-634M CNY-773M CNY-205M CNY-182M CNY-2.7B CNY500M CNY-776M CNY-2.6B CNY183M CNY-252M CNY
EPS (diluted)-1.37 CNY-1.36 CNY-0.30 CNY-0.27 CNY-4.47 CNY-0.36 CNY-0.87 CNY-2.93 CNY0.02 CNY-0.16 CNY
Diluted shares617M673M675M669M717M912M887M901M1.74B1.61B
Gross margin19.6%22.4%27.8%24.8%——————
Operating margin-23.1%-40.3%7.0%4.8%——————
Net margin-17.4%-22.8%-6.0%-4.8%——————

Balance sheet

Fiscal years, in CNY, from VNET Group Inc DRC's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Cash and short-term investments1.6B CNY2.5B CNY2.6B CNY2.2B CNY3.0B CNY1.4B CNY2.7B CNY2.6B CNY1.5B CNY5.9B CNY
Inventory4M CNY710,000 CNY2M CNY———————
Total current assets5.2B CNY4.2B CNY4.7B CNY5.2B CNY6.1B CNY5.3B CNY7.1B CNY9.8B CNY6.8B CNY11.5B CNY
Property, plant and equipment3.8B CNY3.3B CNY4.0B CNY5.4B CNY8.1B CNY10.1B CNY12.0B CNY13.0B CNY17.2B CNY22.8B CNY
Goodwill1.8B CNY990M CNY990M CNY990M CNY995M CNY1.3B CNY1.4B CNY0 CNY0 CNY—
Total assets12.4B CNY9.9B CNY11.2B CNY14.3B CNY19.4B CNY23.1B CNY26.9B CNY30.4B CNY32.4B CNY44.6B CNY
Total current liabilities4.4B CNY1.8B CNY2.2B CNY4.5B CNY6.1B CNY5.2B CNY6.3B CNY11.4B CNY9.3B CNY12.4B CNY
Total liabilities5.6B CNY4.7B CNY5.8B CNY9.0B CNY12.5B CNY15.5B CNY20.0B CNY23.9B CNY25.4B CNY36.0B CNY
Shareholders' equity6.1B CNY5.0B CNY5.1B CNY5.0B CNY6.6B CNY7.2B CNY6.6B CNY6.0B CNY6.4B CNY6.2B CNY
Net debt426M CNY-1.8B CNY-2.2B CNY-1.5B CNY-2.5B CNY-988M CNY-2.2B CNY-1.5B CNY517M CNY-2.3B CNY

Cash flow

Fiscal years, in CNY, from VNET Group Inc DRC's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Operating cash flow58M CNY487M CNY705M CNY803M CNY714M CNY1.4B CNY2.4B CNY2.1B CNY2.0B CNY1.9B CNY
Capital spending575M CNY396M CNY435M CNY1.2B CNY2.5B CNY2.7B CNY3.0B CNY3.0B CNY4.9B CNY7.7B CNY
Free cash flow-517M CNY91M CNY270M CNY-446M CNY-1.8B CNY-1.3B CNY-555M CNY-904M CNY-2.9B CNY-5.7B CNY
Stock-based compensation119M CNY47M CNY60M CNY44M CNY137M CNY320M CNY118M CNY35M CNY149M CNY26M CNY
Share buybacks (net)-43M CNY-133M CNY—-12M CNY-130M CNY-1.7B CNY———-17M CNY
Net borrowing—1.5B CNY—2.0B CNY595M CNY1.6B CNY1.1B CNY1.8B CNY3.0B CNY5.0B CNY
Free cash flow margin-14.2%2.7%7.9%-11.8%——————
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for VNET.
Open VNET in Investingly

Questions

How much free cash flow does VNET Group Inc DRC generate?

-5.7B CNY in fiscal 2025 (operating cash flow minus capital spending).

From VNET Group Inc DRC's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.