VNET · XBRL financial data

VNET Group financial statements, every quarter

The same tables from 12 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal quarters (VNET's year ends in late December)

In millions of CNY	Q4 FY14Dec 31, 2014	Q4 FY15Dec 31, 2015	Q4 FY16Dec 31, 2016	Q4 FY17Dec 31, 2017	Q4 FY18Dec 31, 2018	Q4 FY19Dec 31, 2019	Q4 FY20Dec 31, 2020	Q4 FY21Dec 31, 2021	Q4 FY22Dec 31, 2022	Q4 FY23Dec 31, 2023	Q4 FY24Dec 31, 2024	Q4 FY25Dec 31, 2025
Revenue	—	—	year only	year only	year only	—	—	—	—	—	—	—
Revenue from contracts with customers	—	—	—	year only	year only	year only	—	—	—	—	—	—
Cost of goods and services sold	year only	year only	year only	year only	year only	year only	—	—	—	—	—	—
Research and development	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only
General and administrative	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only
Operating income (loss)	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only
Interest income	year only	year only	year only	year only	year only	—	—	—	—	—	—	—
Interest expense	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only
Income tax expense (benefit)	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only
Net income (loss)	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only

Balance sheet

CSV

Fiscal quarters (VNET's year ends in late December)

In millions of CNY	Q4 FY14Dec 31, 2014	Q4 FY15Dec 31, 2015	Q4 FY16Dec 31, 2016	Q4 FY17Dec 31, 2017	Q4 FY18Dec 31, 2018	Q4 FY19Dec 31, 2019	Q4 FY20Dec 31, 2020	Q4 FY21Dec 31, 2021	Q4 FY22Dec 31, 2022	Q4 FY23Dec 31, 2023	Q4 FY24Dec 31, 2024	Q4 FY25Dec 31, 2025
Cash and cash equivalents	644	1,685	1,297	1,950	2,359	1,808	2,710	1,372	2,661	2,244	1,492	5,524
Short-term investments	911	105	278	549	245	364	286	—	—	357	0	379
Inventory	10	14	4	1	2	—	—	—	—	—	—	—
Prepaid and other current assets	309	653	777	934	1,158	1,618	1,866	2,050	2,148	2,375	2,790	2,242
Total current assets	2,867	3,482	5,202	4,246	4,678	5,228	6,056	5,324	7,052	9,823	6,820	11,452
Property and equipment, net	3,037	3,653	3,782	3,319	4,031	5,444	8,106	10,092	11,964	13,024	17,217	22,776
Right-of-use asset	—	—	—	—	—	1,222	1,326	2,869	3,504	4,012	4,618	4,871
Goodwill	1,756	1,756	1,756	990	990	990	995	1,340	1,364	0	0	—
Total assets	9,640	10,864	12,422	9,908	11,151	14,274	19,374	23,095	26,948	30,386	32,357	44,594
Current portion of long-term debt	—	—	—	—	125	267	214	384	484	753	2,009	3,232
Total current liabilities	2,989	2,822	4,374	1,775	2,191	4,469	6,122	5,180	6,332	11,437	9,343	12,447
Lease liability, non-current	—	—	—	—	—	579	645	2,284	2,905	3,271	3,779	4,001
Total liabilities	6,640	6,039	5,571	4,707	5,788	9,042	12,476	15,494	19,967	23,872	25,436	36,030
Accumulated deficit	(1,795)	(2,234)	(2,869)	(3,629)	(3,838)	(4,038)	(7,235)	(7,590)	(8,370)	(11,016)	(10,860)	(11,126)
Total stockholders' equity	2,203	4,015	6,125	5,050	5,094	4,953	6,565	7,242	6,610	6,014	6,366	6,218
Total liabilities and equity	9,640	10,864	12,422	9,908	11,151	14,274	19,374	23,095	26,948	30,386	32,357	44,594

Cash flows

CSV

Fiscal quarters (VNET's year ends in late December)

In millions of CNY	Q4 FY14Dec 31, 2014	Q4 FY15Dec 31, 2015	Q4 FY16Dec 31, 2016	Q4 FY17Dec 31, 2017	Q4 FY18Dec 31, 2018	Q4 FY19Dec 31, 2019	Q4 FY20Dec 31, 2020	Q4 FY21Dec 31, 2021	Q4 FY22Dec 31, 2022	Q4 FY23Dec 31, 2023	Q4 FY24Dec 31, 2024	Q4 FY25Dec 31, 2025
Net income (loss)	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only
Stock-based compensation	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only
Depreciation and amortization	—	—	—	year only	year only	year only	year only	year only	year only	year only	year only	year only
Net cash from operating activities	—	—	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only
Purchases of property and equipment	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only
Net cash from investing activities	—	—	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only
Proceeds from issuing common stock	year only	year only	year only	—	—	year only	year only	year only	—	year only	—	—
Share repurchases	year only	—	year only	year only	—	year only	year only	year only	—	—	—	year only
Proceeds from long-term debt	year only	—	—	year only	—	year only	—	—	—	—	—	—
Repayments of long-term debt	—	—	—	year only	—	—	—	—	—	—	—	—
Net cash from financing activities	—	—	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only
Net change in cash	—	—	—	year only	year only	year only	year only	year only	year only	year only	year only	year only

Compare with peers

SIC 7370 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 7370 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
* marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
A cell reading “not reported” means the filings give no figure for that quarter alone.
A cell reading “year only” links to a 10-K that gives only the full year: without all three earlier quarters there is no fourth quarter to work out, and the year total is never shown as a quarter.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Quarter
VNET Group	5,524	not reported	year only	not reported	Q4 FY25 20-FDec 31, 2025
Jianpu Technology	214	not reported	year only	400.5M	Q4 FY25 20-FDec 31, 2025
Alithya Group	16	year only	year only	not reported	Q4 FY25 40-FMar 31, 2025
AppLovin	3,053	1,924	869*	335.3M	Q2 FY26 10-QJun 30, 2026
Baidu	24,606	year only	year only	not reported	Q4 FY25 20-FDec 31, 2025
Bumble	154	211	54*	not reported	Q2 FY26 10-QJun 30, 2026
Bioregenx	0	0.4	0	971.6M	Q1 FY26 10-QMar 31, 2026
BTQ Technologies	not reported	not reported	not reported	not reported	—
Kanzhun	4,105	year only	year only	not reported	Q4 FY25 20-FDec 31, 2025

Not investment advice. Not affiliated with the U.S. SEC.