VNET · XBRL financial data

VNET Group financial statements, every fiscal year

The same tables from 6 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 years (VNET's year ends in late December)

In millions of CNY	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Gross profit	1,076	1,438	1,358	1,292	1,832	2,192
Research and development	113	188	307	322	247	261
General and administrative	535	842	643	542	659	797
Operating income (loss)	117	21	121	(1,971)	669	780
Interest expense	381	335	273	312	401	599
Income tax expense (benefit)	109	111	133	114	234	558
Net income (loss)	(2,709)	500	(776)	(2,644)	183	(252)
Earnings per share, basic CNY per share	(4.47)	0.57	(0.87)	(2.93)	0.11	(0.16)
Earnings per share, diluted CNY per share	(4.47)	(0.36)	(0.87)	(2.93)	0.02	(0.16)
Weighted average shares, basic millions of shares	717	865	887	901	1,594	1,612
Weighted average shares, diluted millions of shares	717	912	887	901	1,742	1,612

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

In millions of CNY	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	2,710	1,372	2,661	2,244	1,492	5,524
Short-term investments	286	—	—	357	0	379
Prepaid and other current assets	1,866	2,050	2,148	2,375	2,790	2,242
Total current assets	6,056	5,324	7,052	9,823	6,820	11,452
Property and equipment, net	8,106	10,092	11,964	13,024	17,217	22,776
Right-of-use asset	1,326	2,869	3,504	4,012	4,618	4,871
Goodwill	995	1,340	1,364	0	0	—
Total assets	19,374	23,095	26,948	30,386	32,357	44,594
Current portion of long-term debt	214	384	484	753	2,009	3,232
Total current liabilities	6,122	5,180	6,332	11,437	9,343	12,447
Lease liability, non-current	645	2,284	2,905	3,271	3,779	4,001
Total liabilities	12,476	15,494	19,967	23,872	25,436	36,030
Accumulated deficit	(7,235)	(7,590)	(8,370)	(11,016)	(10,860)	(11,126)
Total stockholders' equity	6,565	7,242	6,610	6,014	6,366	6,218
Total liabilities and equity	19,374	23,095	26,948	30,386	32,357	44,594

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

In millions of CNY	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	(2,709)	500	(776)	(2,644)	183	(252)
Stock-based compensation	137	320	118	35	149	26
Depreciation and amortization	989	1,268	1,596	1,807	1,598	2,126
Net cash from operating activities	714	1,388	2,440	2,063	2,005	1,919
Purchases of property and equipment	2,473	2,692	2,996	2,967	4,924	7,657
Net cash from investing activities	(3,889)	(3,773)	(3,559)	(3,905)	(4,391)	(8,012)
Proceeds from issuing common stock	2,680	(0)	—	2,122	—	—
Share repurchases	130	1,702	—	—	—	17
Net cash from financing activities	4,163	968	2,298	3,941	(628)	10,221
Net change in cash	759	(1,408)	1,281	2,109	(3,018)	4,121

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	not reported	not reported	not reported	not reported	—

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