# VNET Group, Inc. (VNET)

> Technology · CN · Reports in CNY

Fundamental indicators from Sponda, adjusted for inflation.

[HTML version](https://sponda.capital/en/VNET/fundamentals)

## Annual figures

| Year | Revenue (M) | Net Inc. (M) | FCF (M) | Debt (M) | Equity (M) |
| --- | --- | --- | --- | --- | --- |
| 2026 | ¥ 5.46B | ¥ -2.37B | ¥ -2.92B | ¥ 30.64B | ¥ 4.08B |
| 2025 | ¥ 9.90B | ¥ -260.91M | ¥ -5.81B | ¥ 28.17B | ¥ 6.22B |
| 2024 | ¥ 8.25B | ¥ 177.08M | ¥ -2.94B | ¥ 17.51B | ¥ 6.37B |
| 2023 | ¥ 7.46B | ¥ -2.66B | ¥ -911.56M | ¥ 17.17B | ¥ 6.01B |
| 2022 | ¥ 7.09B | ¥ -776.55M | ¥ -645.28M | ¥ 14.76B | ¥ 6.61B |
| 2021 | ¥ 6.31B | ¥ 510.45M | ¥ -1.37B | ¥ 11.12B | ¥ 7.24B |
| 2020 | ¥ 5.00B | ¥ -2.81B | ¥ -1.85B | ¥ 8.23B | ¥ 6.55B |
| 2019 | ¥ 3.93B | ¥ -189.26M | ¥ -589.70M | ¥ 5.40B | ¥ 4.90B |
| 2018 | ¥ 3.69B | ¥ -222.30M | ¥ 273.04M | ¥ 3.27B | ¥ 5.10B |
| 2017 | ¥ 3.75B | ¥ -853.70M | ¥ -25.93M | ¥ 3.14B | ¥ 5.11B |
| 2016 | ¥ 4.10B | ¥ -712.95M | ¥ -588.90M | ¥ 3.19B | ¥ 6.13B |
| 2015 | ¥ 4.17B | ¥ -491.29M | ¥ -974.47M | ¥ 3.40B | ¥ 4.01B |
| 2014 | ¥ 3.35B | ¥ -406.38M | ¥ -103.44M | ¥ 4.04B | ¥ 2.17B |
| 2013 | ¥ 2.33B | ¥ -57.03M | ¥ 0 | ¥ 2.69B | ¥ 2.46B |
| 2012 | ¥ 1.85B | ¥ 68.28M | ¥ -105.08M | ¥ 496.91M | ¥ 1.87B |
| 2011 | ¥ 1.27B | ¥ 22.92M | N/A | ¥ 204.49M | ¥ 1.65B |
| 2010 | ¥ 679.08M | ¥ -330.21M | N/A | ¥ 113.46M | ¥ 161.21M |

Columns not available in this view: annualPriceMultiples, dividends. They require live market data and are shown on the HTML page instead.

## Leverage and liquidity

| Indicator | Value |
| --- | --- |
| Gross Debt / Eq | 7.52 |
| Liabilities / Eq | 9.63 |
| Current Ratio | 0.97 |

## Other views

- [Metrics](https://sponda.capital/en/VNET.md)
- [Charts](https://sponda.capital/en/VNET/charts.md)
- [Compare](https://sponda.capital/en/VNET/compare.md)
- [Indicator definitions](https://sponda.capital/en/screener.md)

Data as of 2026-08-30.