A Business at a Glance
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VNET Group, Inc.
VNET
$1.9B
Mkt Cap
$7.21
-7.21%
VNET Group, Inc. (VNET) has a current P/E ratio of 423.8.
VNET Group, Inc. (VNET) has a 5-year average return on invested capital (ROIC) of -11.9%. This is below average and may indicate limited pricing power.
VNET Group, Inc. (VNET) has a market capitalization of $1.9B. It is classified as a small-cap stock.
VNET Group, Inc. (VNET) does not currently pay a regular dividend.
VNET Group, Inc. (VNET) operates in the Services-Computer Programming, Data Processing, Etc. industry, within the Technology sector.
VNET Group, Inc. (VNET) reported annual revenue of $1.1 billion in its most recent fiscal year, based on SEC EDGAR filings.
VNET Group, Inc. (VNET) has a net profit margin of 2.2%. This is a modest margin.
VNET Group, Inc. (VNET) generated $-406 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
ITEM 4.INFORMATION ON THE COMPANY A. History and Development of the Company We commenced operations in 1999, and through a series of corporate restructurings, established a holding company, 21 ViaNet Holding Inc., or 21 ViaNet, in October 2009 under the laws of the Cayman Islands. 21 ViaNet was formerly a wholly-owned subsidiary of aBitCool, a company incorporated under the laws of the Cayman Islands. On November 10, 2009, 21 ViaNet Holding Inc. changed its name into AsiaCloud Inc., or AsiaCloud. In October 2010, AsiaCloud effected a repurchase and cancellation of all its outstanding shares held by aBitCool and the issuance of ordinary shares and preferred shares to the shareholders of aBitCool so that they maintained their respective ownership interests in AsiaCloud directly. In connection with the restructuring, AsiaCloud changed its name to 21Vianet Group, Inc., and on October 13, 2021, 21Vianet Group, Inc. changed its company name to VNET Group, Inc.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 1.1B | 1.1B | 1.0B | 1.0B | - | - |
| Net Income | 25M | 25M | -374M | -115M | 12M | -60M |
| EPS | $0.02 | $0.02 | $-2.53 | $-0.79 | $-0.06 | $-0.61 |
| Free Cash Flow | -406M | -406M | -128M | -82M | -32M | -39M |
| ROIC | 4.1% | 6.5% | -39.2% | 1.7% | 11.0% | -39.6% |
| Gross Margin | 22.2% | 22.2% | 17.4% | 19.2% | - | - |
| Debt/Equity | 0.35 | 0.35 | 0.14 | 0.89 | 0.27 | 0.46 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 93M | 93M | -279M | 18M | 23M | -49M |
| Operating Margin | 8.1% | 8.1% | -26.6% | 1.7% | - | - |
| ROE | 2.9% | 3.0% | -44.0% | -11.7% | 7.3% | -48.3% |
| Shares Outstanding | 264M | 264M | 148M | 146M | - | 98M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 2.0B | 2.9B | 3.6B | 3.6B | 3.4B | 3.4B | 3.8B | N/A | N/A | 1.0B | 1.0B | 1.1B | 1.1B |
| Gross Margin | 4.3% | 4.5% | 3.6% | 2.8% | 3.4% | 4.0% | 3.6% | N/A | N/A | 19.2% | 17.4% | 22.2% | 22.2% |
| R&D | 13M | 20M | 22M | 22M | 23M | 13M | 13M | 2.5M | 4.6M | 46M | 46M | 34M | 34M |
| SG&A | 31M | 80M | 93M | 92M | 80M | 67M | 60M | 12M | 21M | 95M | 77M | 92M | 92M |
| EBIT | 6.9M | -18M | -44M | -121M | -210M | 35M | 26M | -49M | 23M | 18M | -279M | 93M | 93M |
| Op. Margin | 0.4% | -0.6% | -1.2% | -3.3% | -6.2% | 1.0% | 0.7% | N/A | N/A | 1.7% | -26.6% | 8.1% | 8.1% |
| Net Income | -8.0M | -56M | -66M | -91M | -119M | -30M | -26M | -60M | 12M | -115M | -374M | 25M | 25M |
| Net Margin | -0.4% | -2.0% | -1.8% | -2.5% | -3.5% | -0.9% | -0.7% | N/A | N/A | -11.0% | -35.7% | 2.2% | 2.2% |
| Non-Recurring | -57K | 2.7M | -106K | -1.7M | 118M | 1.2M | -39K | 26K | -83K | 0 | 193M | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 2.8% | -4.2% | -10.2% | -12.1% | -12.1% | 3.5% | 3.4% | -39.6% | 11.0% | 1.7% | -39.2% | 6.5% | 4.1% |
| ROE | -2.3% | -14.8% | -13.6% | -12.2% | -14.3% | -3.9% | -3.6% | -48.3% | 7.3% | -11.7% | -44.0% | 3.0% | 2.9% |
| ROA | -1.1% | -4.4% | -4.1% | -5.3% | -7.2% | -1.9% | -1.4% | -16.5% | 2.4% | -2.9% | -8.7% | 0.6% | 0.6% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 11M | 52M | 33M | 58M | 487M | 103M | 115M | 16M | 34M | 362M | 292M | 279M | 279M |
| Free Cash Flow | -59M | -77M | -129M | -25M | 426M | 39M | -64M | -39M | -32M | -82M | -128M | -406M | -406M |
| Owner Earnings | -34M | -99M | -164M | -153M | -187M | -541M | -1.9M | -9.1M | -4.9M | 108M | 31M | 36M | 36M |
| CapEx | 69M | 129M | 162M | 83M | 61M | 63M | 179M | 55M | 66M | 444M | 419M | 685M | 685M |
| Maint. CapEx | 33M | 114M | 168M | 193M | 667M | 635M | 111M | 22M | 31M | 237M | 255M | 222M | 222M |
| Growth CapEx | 36M | 15M | 0 | 0 | 0 | 0 | 68M | 33M | 35M | 208M | 164M | 463M | 463M |
| D&A | 33M | 114M | 168M | 193M | 667M | 635M | 111M | 22M | 31M | 237M | 255M | 222M | 222M |
| CapEx/OCF | 649.6% | 246.0% | 485.3% | 686.8% | 98.4% | 61.7% | 155.5% | 346.3% | 194.0% | 122.8% | 143.8% | 245.5% | 245.5% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 9.9M | 34M | 3.0M | 6.1M | 20M | 0 | 1.7M | 2.9M | 41M | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.1% | 0.5% | 0.0% | 0.2% | 0.4% | N/A | 0.0% | 0.1% | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 11M | 38M | 29M | 17M | 7.2M | 8.7M | 6.3M | 3.0M | 7.8M | 18M | 5.0M | 21M | 21M |
| Debt Repayment | 34M | 61M | 28M | 46M | 421M | 10M | 5.1M | 0 | 0 | 0 | 75M | 593M | 593M |
| Balance Sheet | |||||||||||||
| Net Debt | -166M | 279M | -168M | 257M | -60M | 520M | 195M | 396K | 12M | 80M | -245M | 101M | 101M |
| Cash & Equiv. | 235M | 99M | 243M | 199M | 300M | 343M | 260M | 60M | 33M | 395M | 317M | 208M | 208M |
| Long-Term Debt | 161M | 319M | 0 | 5.8M | 298M | 766M | 289M | 6.3M | 7.9M | 72M | 102M | 198M | 198M |
| Debt/Equity | 0.62 | 1.48 | 0.15 | 0.56 | 0.42 | 1.21 | 0.71 | 0.46 | 0.27 | 0.89 | 0.14 | 0.35 | 0.35 |
| Interest Coverage | 0.3 | -0.5 | -1.0 | -4.2 | -7.4 | 1.0 | 0.5 | -5.8 | 2.8 | 0.4 | -6.3 | 1.7 | 1.7 |
| Equity | 406M | 355M | 620M | 882M | 776M | 741M | 711M | 146M | 176M | 980M | 850M | 886M | 886M |
| Total Assets | 1.0B | 1.6B | 1.7B | 1.8B | 1.5B | 1.6B | 2.1B | 431M | 562M | 4.0B | 4.3B | 4.5B | 4.5B |
| Total Liabilities | 604M | 1.1B | 932M | 802M | 723M | 842M | 1.3B | 277M | 377M | 3.0B | 3.4B | 3.5B | 3.5B |
| Intangibles | 56M | 226M | 197M | 141M | 62M | 52M | 59M | 248M | 384M | 424M | 391M | 391M | 391M |
| Retained Earnings | -236M | -289M | -345M | -413M | -558M | -558M | -580M | -161M | -185M | -1.2B | -1.6B | -1.5B | -1.5B |
| Working Capital | 420M | -20M | 102M | 119M | 380M | 362M | 109M | -1.5M | 3.5M | 107M | -228M | -351M | -351M |
| Current Assets | 595M | 462M | 537M | 749M | 653M | 680M | 751M | 135M | 130M | 1.0B | 1.4B | 949M | 949M |
| Current Liabilities | 175M | 482M | 436M | 630M | 273M | 319M | 642M | 136M | 126M | 939M | 1.6B | 1.3B | 1.3B |
| Per Share Data | |||||||||||||
| EPS | -0.02 | -0.14 | -0.13 | -0.20 | -0.21 | -0.04 | -0.04 | -0.61 | -0.06 | -0.79 | -2.53 | 0.02 | 0.02 |
| Owner EPS | -0.08 | -0.25 | -0.32 | -0.33 | -0.33 | -0.73 | -0.00 | -0.09 | N/A | 0.74 | 0.21 | 0.14 | 0.14 |
| Book Value | 1.02 | 0.88 | 1.22 | 1.93 | 1.37 | 0.99 | 1.09 | 1.48 | N/A | 6.72 | 5.76 | 3.36 | 3.36 |
| Cash Flow/Share | 0.03 | 0.13 | 0.07 | 0.13 | 0.86 | 0.14 | 0.18 | 0.16 | N/A | 2.48 | 1.98 | 1.06 | 0.94 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 398.3M | 401.2M | 508.4M | 456.3M | 565.6M | 745.7M | 654.6M | 98.4M | N/A | 145.9M | 147.6M | 263.9M | 263.9M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 251.0 | 423.8 |
| P/FCF | N/A | N/A | N/A | N/A | 10.7 | 164.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | 192.2 | 182.7 | N/A | N/A | 49.7 | N/A | 13.2 | 21.5 |
| Price/Book | 22.3 | 17.8 | 17.8 | 4.0 | 6.5 | 9.4 | 6.7 | 21.8 | N/A | 0.8 | 0.5 | 1.3 | 2.1 |
| Price/Sales | 16.0 | 21.0 | 17.7 | 12.3 | 7.3 | 14.3 | 10.8 | N/A | N/A | 0.8 | 0.5 | 0.6 | 1.7 |
| FCF Yield | -4.0% | -7.4% | -7.3% | -4.8% | 56.9% | 3.7% | -9.3% | -1.2% | N/A | -10.1% | -30.7% | -36.0% | -21.3% |
| Market Cap | 1.5B | 1.0B | 1.8B | 529M | 749M | 1.1B | 686M | 3.2B | N/A | 814M | 416M | 1.1B | 1.9B |
| Avg. Price | 13.03 | 24.07 | 19.05 | 13.03 | 6.11 | 8.74 | 7.97 | 19.28 | 23.80 | 6.04 | 3.51 | 2.48 | 7.21 |
| Year-End Price | 22.65 | 15.67 | 21.17 | 7.09 | 8.10 | 8.63 | 6.41 | 32.28 | 8.71 | 5.58 | 2.82 | 4.27 | 7.21 |
VNET Group, Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 19.6%. At current prices, the estimated annualized return to fair value is +25.1%.
VNET Group, Inc. (VNET) has a debt-to-equity ratio of 0.35. This indicates a conservatively financed balance sheet.
VNET Group, Inc. (VNET) reported earnings per share (EPS) of $0.02 in its most recent fiscal year.
VNET Group, Inc. (VNET) has a return on equity (ROE) of 3.0%. This indicates moderate shareholder returns.
VNET Group, Inc. (VNET) has a 5-year average gross margin of 19.6%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 16 years of financial data for VNET Group, Inc. (VNET), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
VNET Group, Inc. (VNET) has a book value per share of $3.36, based on its most recent annual SEC filing.
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