Symbols

VNET

VNET Group·NASDAQ

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VNET fundamentals

VNET Q4 2025 Earnings

VNET Group (VNET) released its earnings on Mar 16, 2026: revenue was 383.89M (YoY +24.77%), beat estimates; EPS was -0.0014 (YoY +82.93%), missed estimates.

Revenue / YoY

383.89M

+24.77%

EPS / YoY

-0.0014

+82.93%

Report date

Mar 16, 2026

VNET Earnings Call Summary for Q4,2025

Revenue Surge: Q4 2025 revenue up 19.6% YoY to RMB 2.69 billion, with wholesale segment growing 47.1% YoY.
2026 Growth Targets: Revenue forecast of RMB 11.5-11.8 billion (+15.6%-18.6% YoY), EBITDA of RMB 3.55-3.75 billion (+19.2%-25.9% YoY).
Capacity Expansion: 450-500 MW new builds planned for 2026, 70% focused on Greater Beijing with green energy integration.
Customer Momentum: 150 MW of 2026 capacity already secured, with active participation in 2026-2027 customer tenders.
Financial Strength: RMB 6.58 billion cash on hand, net debt/EBITDA of 4.3%, and 2026 CapEx fully financed via project loans and private REITs.

Earnings

EPS

Revenue

Revenue & Expenses

VNET has released its 2025 Q4 earnings report, with revenue of 384.25M, reflecting a YoY change of 24.86%, and net profit of 49.38M, showing a YoY change of 10348.21%. The Sankey diagram below clearly presents VNET's revenue sources and cost distribution.

Key Indicators

VNET Group (VNET) key financial stats and ratios, covering profitability, financial health, and leverage.

Income Statement

VNET Group (VNET)'s revenue and profit trends over recent years, visualized with a waterfall chart to showcase the revenue-to-profit funnel.

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Balance Sheet

VNET Group (VNET)'s asset and liability trends over recent years, visualized with a waterfall chart to illustrate changes in its asset-liability structure.

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Cash Flow

VNET Group (VNET)'s cash flow trends over recent years, visualized with a waterfall chart to illustrate changes in its operating, investing, and financing cash flows.

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