VNET Group, Inc. income statement VNET

Annual Quarterly

It recorded a net loss of $36.0 million. Diluted earnings per share were -$0.02. Across the 4 fiscal years shown, revenue grew from $524.5 million in fiscal 2016 to $544.3 million in fiscal 2019, about 1.2% a year.

USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.

Line	FY 2025 Dec 31, 2025	FY 2024 Dec 31, 2024	FY 2023 Dec 31, 2023	FY 2022 Dec 31, 2022	FY 2021 Dec 31, 2021	FY 2020 Dec 31, 2020	FY 2019 Dec 31, 2019	FY 2018 Dec 31, 2018	FY 2017 Dec 31, 2017	FY 2016 Dec 31, 2016
Revenue	—	—	—	—	—	—	544 +10.0%	495 -5.1%	521 -0.6%	525 -6.5%
Cost of revenue	—	—	—	—	—	—	409 +14.6%	357 -11.8%	405 -4.0%	422 -1.7%
Gross profit	314 +24.9%	251 +37.9%	182 -7.6%	197 -12.7%	226 +36.8%	165 +22.2%	135 -1.8%	137 +17.9%	117 +13.6%	103 -22.2%
Research and development	37 +10.5%	34 -25.6%	45 +2.0%	44 +50.4%	30 +71.0%	17 +35.7%	13 -4.8%	13 -41.6%	23 +6.6%	22 -2.5%
Selling, general and administrative	154 +21.7%	126 +11.1%	114 -17.8%	138 -19.6%	172 +46.0%	118 +32.2%	89 -3.3%	92 -22.6%	119 -16.5%	143 -3.6%
Operating income	112 +21.7%	92 +133.0%	-278 -1680.4%	18 +425.1%	3 -81.3%	18 -31.7%	26 -24.2%	35 +116.4%	-210 -73.8%	-121 -175.8%
Pretax income	60 -8.3%	65 +118.6%	-350 -284.2%	-91 -192.7%	98 +125.0%	-394 -1460.3%	-25 -7.0%	-24 +84.8%	-155 -14.0%	-136 -148.9%
Income tax	80 +148.4%	32 +99.2%	16 -16.7%	19 +10.7%	17 +4.3%	17 +2045.5%	1 -78.0%	4 +125.6%	-14 -762.4%	-2 -121.8%
Net income	-36 -243.5%	25 +106.7%	-372 -231.0%	-113 -243.4%	78 +118.9%	-415 -1485.9%	-26 +12.2%	-30 +74.9%	-119 -30.1%	-91 -38.1%
Net income to common	-37	—	—	—	—	—	—	—	—	—
Basic EPS	-0.02 -200.0%	0.02 +104.9%	-0.41 -215.4%	-0.13 -244.4%	0.09 +113.0%	-0.69 -1625.0%	-0.04 +0.0%	-0.04 +81.0%	-0.21 -5.0%	-0.20 -53.8%
Diluted EPS	-0.02	0.00 +100.0%	-0.41 -215.4%	-0.13 -116.7%	-0.06 +91.3%	-0.69 -1625.0%	-0.04 +0.0%	-0.04 +81.0%	-0.21 -5.0%	-0.20 -53.8%
Weighted average shares, basic	1,612 +1.2%	1,594 +76.8%	901 +1.6%	887 +2.5%	865 +20.7%	717 +7.2%	669 -0.9%	675 +0.3%	673 +9.0%	617 +25.4%
Weighted average shares, diluted	1,612 -7.5%	1,742 +93.3%	901 +1.6%	887 -2.7%	912 +27.2%	717 +7.2%	669 -0.9%	675 +0.3%	673 +9.0%	617 +25.4%
Other measures
Depreciation and amortization	304 +38.8%	219 -14.0%	255 +10.0%	231 +16.3%	199 +31.2%	152 +36.6%	111 +34.6%	82 +2.4%	80 +16.4%	69 +11.4%
EBITDA	416 +33.8%	311 +1448.6%	-23 -109.3%	249 +23.1%	202 +19.4%	169 +23.6%	137 +17.2%	117 +190.0%	-130 -150.4%	-52 -385.2%
Interest coverage	1.30x	1.67x	-6.31x	0.44x	0.06x	0.31x	0.53x	1.01x	-7.39x	-4.23x
Margins
Gross margin	—	—	—	—	—	—	24.79%	27.78%	22.35%	19.55%
Operating margin	—	—	—	—	—	—	4.81%	6.98%	-40.34%	-23.07%
Pretax margin	—	—	—	—	—	—	-4.64%	-4.77%	-29.71%	-25.90%
Profit margin	—	—	—	—	—	—	-4.81%	-6.03%	-22.78%	-17.40%
EBITDA margin	—	—	—	—	—	—	25.19%	23.64%	-24.91%	-9.89%
Effective tax rate	133.63%	49.34%	—	—	17.78%	—	—	—	—	—

How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. More on our methodology.

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Company profile

Industry: Services-Computer Programming, Data Processing, Etc. (SIC 7370)
Listed as: VNET (Nasdaq)
Headquarters: Beijing, China
SEC filer status: Large accelerated filer
SEC CIK: 1508475
Former names: 21Vianet Group, Inc. (until Oct 8, 2021); 21 Vianet Group, Inc. (until Apr 6, 2011)

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.