Last 47 quarters of trend data · Technology · Cloud & Data Centers
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -2.50 | — | — | 2.20 | — | — | — | — | 0.94 | 2.19 | — | — | — | — | 1.93 | — | — | — | 2.51 | — | 4.24 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | -23.3% | — | — | — | — | — | -47.2% | |
| P/S Ratio | 0.55 | 0.21 | 0.21 | 0.23 | 0.27 | 0.19 | 0.24 | 0.14 | 0.14 | 0.07 | 0.05 | 0.06 | 0.06 | 0.06 | 0.08 | 0.11 | 0.11 | 0.13 | 0.14 | 0.20 | 0.41 |
| — | +8.2% | -11.9% | +65.8% | +89.6% | +176.4% | +354.3% | +143.2% | +132.2% | +16.8% | -32.5% | -47.9% | -45.2% | -54.4% | -42.9% | -42.8% | -73.0% | -77.6% | -83.4% | -77.3% | -33.5% | |
| P/B Ratio | 0.66 | 0.23 | 0.23 | 0.29 | 0.37 | 0.24 | 0.29 | 0.18 | 0.17 | 0.08 | 0.06 | 0.07 | 0.07 | 0.06 | 0.08 | 0.12 | 0.11 | 0.12 | 0.12 | 0.18 | 0.35 |
| — | -6.4% | -19.7% | +58.1% | +112.2% | +189.8% | +357.0% | +170.6% | +155.8% | +34.5% | -20.9% | -44.4% | -41.3% | -48.1% | -32.9% | -31.8% | -67.1% | -74.7% | -78.5% | -73.5% | -25.5% | |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — | — | — | 5.81 | — | — | 7.57 | 0.55 | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | +947.5% | — | — | — | — | — | — | — | |
| EV / EBITDA | 8.83 | 7.38 | 6.90 | 8.55 | 8.72 | 8.07 | 8.09 | 6.35 | 7.09 | 6.24 | 7.88 | — | 7.14 | 6.39 | 6.00 | 7.20 | 7.38 | 6.42 | 6.73 | 14.34 | 6.36 |
| — | -8.5% | -14.8% | +34.8% | +22.9% | +29.2% | +2.8% | — | -0.7% | -2.3% | +31.2% | — | -3.2% | -0.5% | -10.7% | -49.8% | +16.1% | +3.7% | +16.4% | +31.0% | +38.6% | |
| EV / EBIT | 38.98 | 34.05 | 23.39 | 6.90 | — | 21.60 | — | 26.49 | 8.98 | 16.56 | 89.11 | — | 109.56 | 36.05 | 15.03 | 189.55 | — | — | 48.42 | — | 9.47 |
| — | +57.6% | — | -74.0% | — | +30.5% | — | — | -91.8% | -54.1% | +492.8% | — | — | — | -69.0% | — | — | — | -7.2% | — | +31.0% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 22.0% | 18.2% | 22.9% | 20.1% | 20.9% | 22.5% | 25.2% | 22.5% | 23.2% | 21.3% | 21.6% | 15.3% | 16.2% | 18.8% | 19.5% | 17.5% | 17.5% | 20.7% | 21.6% | 21.8% | 24.0% |
| — | -19.2% | -9.1% | -10.5% | -9.9% | +5.6% | +16.3% | +46.7% | +42.7% | +13.3% | +10.9% | -12.2% | -6.9% | -9.3% | -9.7% | -19.8% | -27.4% | -13.6% | -7.3% | -0.3% | +8.9% | |
| Operating Margin | 7.6% | 6.8% | 9.2% | 5.1% | 7.5% | 7.1% | 11.1% | 10.5% | 8.5% | 9.8% | 2.4% | -116.5% | 1.7% | 5.1% | 6.4% | -0.9% | 0.4% | 2.1% | 3.4% | -9.2% | 7.3% |
| — | -4.1% | -17.1% | -51.2% | -11.8% | -27.2% | +352.5% | +109.1% | +396.6% | +90.7% | -61.7% | -12511.5% | +382.7% | +144.9% | +86.3% | +90.0% | -95.2% | -68.7% | -40.7% | -65.7% | +19.9% | |
| Net Margin | -2.6% | -5.2% | -82.8% | 11.2% | -12.0% | -0.5% | -10.6% | -0.5% | 15.0% | 3.2% | -9.9% | -128.7% | -2.7% | -12.8% | 4.6% | -3.4% | -23.3% | -21.9% | 5.5% | -1.6% | 10.0% |
| — | -957.8% | -683.3% | +2359.2% | -179.8% | -115.4% | -7.3% | +99.6% | +660.0% | +125.0% | -316.2% | -3666.7% | +88.5% | +41.5% | -17.3% | -117.6% | -333.3% | -171.8% | +190.3% | +97.9% | +28.4% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -3.2% | -1.4% | -24.0% | 3.7% | -4.0% | -0.2% | -3.3% | -0.2% | 4.6% | 1.0% | -2.9% | -36.5% | -0.7% | -3.3% | 1.2% | -0.9% | -5.8% | -5.0% | 1.2% | -0.4% | 2.1% |
| — | -815.8% | -634.5% | +2373.9% | -187.1% | -116.1% | -13.4% | +99.6% | +732.1% | +129.6% | -346.7% | -3868.8% | +87.4% | +33.7% | -1.4% | -153.1% | -374.9% | -185.9% | +207.1% | +97.6% | +10.7% | |
| ROA | -0.6% | -0.3% | -4.8% | 0.7% | -0.7% | -0.0% | -0.7% | -0.0% | 1.1% | 0.2% | -0.6% | -8.1% | -0.2% | -0.8% | 0.3% | -0.2% | -1.6% | -1.5% | 0.4% | -0.1% | 0.7% |
| — | -859.0% | -612.9% | +1988.8% | -170.3% | -113.7% | -4.4% | +99.6% | +711.4% | +127.4% | -314.6% | -3331.9% | +89.2% | +45.1% | -20.2% | -102.1% | -331.4% | -174.1% | +195.0% | +97.8% | +29.5% | |
| ROIC | 2.0% | 0.4% | 0.6% | 0.3% | 0.5% | 0.5% | 0.7% | 0.8% | 0.6% | 0.7% | 0.2% | -8.4% | 0.1% | 0.4% | 0.5% | -0.1% | 0.0% | 0.2% | 0.2% | -0.7% | 0.6% |
| — | -6.1% | -21.1% | -58.4% | -22.5% | -36.9% | +308.7% | +109.4% | +420.8% | +107.1% | -59.8% | -11864.3% | +347.2% | +128.7% | +86.7% | +90.3% | -95.4% | -73.0% | -50.2% | -42.4% | -4.9% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 3.29 | 3.06 | 2.98 | 3.29 | 3.51 | 3.19 | 3.11 | 2.53 | 2.40 | 2.42 | 2.28 | 2.69 | 2.42 | 2.27 | 2.20 | 2.11 | 2.16 | 1.83 | 1.73 | 1.49 | 1.64 |
| — | -4.3% | -4.1% | +30.0% | +46.2% | +32.2% | +36.4% | -6.0% | -0.8% | +6.5% | +3.7% | +27.2% | +12.4% | +24.1% | +26.6% | +41.8% | +31.5% | +18.1% | +30.4% | +24.7% | +26.6% | |
| Debt / EBITDA | 9.86 | 35.18 | 33.81 | 38.34 | 35.84 | 33.74 | 35.01 | 25.71 | 28.96 | 27.12 | 34.76 | — | 33.75 | 29.69 | 28.90 | 33.68 | 36.62 | 32.14 | 32.94 | 59.14 | 28.24 |
| — | +4.3% | -3.4% | +49.2% | +23.8% | +24.4% | +0.7% | — | -14.2% | -8.7% | +20.3% | — | -7.8% | -7.6% | -12.2% | -43.1% | +29.7% | +13.3% | +11.8% | +62.5% | +13.4% | |
| Current Ratio | 0.92 | 0.97 | 0.99 | 0.92 | 0.90 | 0.97 | 1.10 | 0.73 | 0.83 | 0.87 | 0.85 | 0.86 | 0.71 | 0.67 | 0.75 | 1.11 | 1.26 | 1.41 | 1.40 | 1.03 | 1.10 |
| — | -0.1% | -10.2% | +26.0% | +8.5% | +12.6% | +30.3% | -15.0% | +17.5% | +28.2% | +13.2% | -22.9% | -43.9% | -52.0% | -46.5% | +8.4% | +15.0% | +3.0% | -19.2% | +3.9% | -51.0% | |
| Quick Ratio | 0.92 | 0.97 | 0.99 | 0.92 | 0.90 | 0.97 | 1.10 | 0.73 | 0.83 | 0.87 | 0.85 | 0.86 | 0.71 | 0.67 | 0.75 | 1.11 | 1.26 | 1.41 | 1.40 | 1.03 | 1.10 |
| — | -0.1% | -10.2% | +26.0% | +8.5% | +12.6% | +30.3% | -15.0% | +17.5% | +28.2% | +13.2% | -22.9% | -43.9% | -52.0% | -46.5% | +8.4% | +15.0% | +3.0% | -19.2% | +3.9% | -51.0% | |
| Interest Coverage | 1.71 | 0.93 | 1.17 | 4.88 | -0.67 | 1.71 | -0.67 | 2.12 | 4.78 | 2.39 | 0.27 | -29.08 | 0.35 | 1.30 | 3.13 | 0.23 | -3.67 | -4.01 | 1.06 | -2.12 | 3.29 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying VNET stock.
VNET Group, Inc.'s current P/E is -2.5x. The average P/E over the last 1 quarters is 2.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
VNET Group, Inc.'s current operating margin is 7.6%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking VNET Group, Inc.'s business trajectory between earnings reports.