VNET Group, Inc. (VNET) quarterly income statement — complete revenue, gross profit & net income history
| Metric | 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 | Q2'21 |
|---|
| Sales/Revenue | 2.69B | 2.65B | 2.57B | 2.43B | 2.25B | 2.25B | 2.07B | 1.99B | 1.9B | 1.9B | 1.89B | 1.82B | 1.81B | 1.88B | 1.81B | 1.72B | 1.65B | 1.74B | 1.56B | 1.5B |
| Revenue Growth % | 19.81% | 17.97% | 23.82% | 22.09% | 18.34% | 18.33% | 9.93% | 9.44% | 5.11% | 0.95% | 4.01% | 5.62% | 9.68% | 8.21% | 16.26% | 15.22% | 18.71% | 28.89% | 25.26% | 30.85% |
| Cost of Goods Sold | 2.08B | 2.12B | 2.03B | 1.89B | 1.68B | 1.74B | 1.59B | 1.57B | 1.49B | 1.61B | 1.58B | 1.48B | 1.45B | 1.55B | 1.5B | 1.37B | 1.29B | 1.36B | 1.19B | 1.14B |
| COGS % of Revenue | 77.11% | 79.89% | 79.12% | 77.5% | 74.83% | 77.53% | 76.82% | 78.69% | 78.36% | 84.68% | 83.76% | 81.19% | 80.49% | 82.54% | 82.55% | 79.26% | 78.39% | 78.23% | 75.95% | 75.98% |
| Gross Profit | 615.87M | 532.93M | 536.2M | 547.74M | 565.34M | 504.86M | 480.89M | 424.89M | 410.72M | 290.88M | 306.48M | 342.75M | 352.38M | 328.38M | 316.58M | 357.78M | 355.72M | 378.33M | 375.24M | 359.51M |
| Gross Margin % | 22.88% | 20.11% | 20.88% | 22.5% | 25.17% | 22.47% | 23.18% | 21.31% | 21.64% | 15.32% | 16.24% | 18.81% | 19.51% | 17.46% | 17.45% | 20.74% | 21.61% | 21.77% | 24.05% | 24.02% |
| Gross Profit Growth % | 8.94% | 5.56% | 11.5% | 28.91% | 37.65% | 73.56% | 56.91% | 23.97% | 16.56% | -11.42% | -3.19% | -4.2% | -0.94% | -13.2% | -15.63% | -0.48% | 10.02% | 28.5% | 36.38% | 32.01% |
| Operating Expenses | 368.94M | 396.5M | 344.24M | 374.72M | 316.81M | 267.86M | 305.19M | 230.27M | 364.31M | 2.5B | 274.29M | 249.48M | 237.15M | 345.75M | 310.17M | 321.72M | 299.33M | 538.13M | 261.33M | 259.86M |
| OpEx % of Revenue | 13.71% | 14.96% | 13.4% | 15.39% | 14.1% | 11.92% | 14.71% | 11.55% | 19.19% | 131.81% | 14.54% | 13.69% | 13.13% | 18.38% | 17.1% | 18.65% | 18.18% | 30.96% | 16.75% | 17.36% |
| Selling, General & Admin | 216.06M | 318.92M | 257.09M | 282.44M | 244.12M | 266.04M | 193.18M | 165.52M | 298.04M | 221.74M | 202.01M | 191.09M | 193.22M | 232.59M | 245.68M | 247.41M | 229.18M | 476.41M | 198.29M | 213.83M |
| SG&A % of Revenue | 8.03% | 12.03% | 10.01% | 11.6% | 10.87% | 11.84% | 9.31% | 8.3% | 15.7% | 11.68% | 10.71% | 10.49% | 10.7% | 12.37% | 13.54% | 14.34% | 13.92% | 27.41% | 12.71% | 14.28% |
| Research & Development | 74.42M | 77.58M | 71.3M | 67.57M | 43.6M | 56.1M | 53.13M | 62M | 75.39M | 80.67M | 80.67M | 81.13M | 79.75M | 84.14M | 73.35M | 76.74M | 72.61M | 63.04M | 53.59M | 38.3M |
| R&D % of Revenue | 2.77% | 2.93% | 2.78% | 2.78% | 1.94% | 2.5% | 2.56% | 3.11% | 3.97% | 4.25% | 4.28% | 4.45% | 4.42% | 4.47% | 4.04% | 4.45% | 4.41% | 3.63% | 3.43% | 2.56% |
| Other Operating Expenses | 1000K | 7 | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | -1000K | 1000K | -1000K | -1000K | -1000K | 1000K | -1000K | -1000K | -1000K | -1000K | 1000K | 1000K |
| Operating Income | 246.93M | 136.43M | 191.97M | 173.02M | 248.53M | 237M | 175.7M | 194.62M | 46.42M | -2.21B | 32.19M | 93.27M | 115.23M | -17.37M | 6.41M | 36.06M | 56.39M | -159.81M | 113.9M | 99.94M |
| Operating Margin % | 9.18% | 5.15% | 7.47% | 7.11% | 11.06% | 10.55% | 8.47% | 9.76% | 2.45% | -116.49% | 1.71% | 5.12% | 6.38% | -0.92% | 0.35% | 2.09% | 3.43% | -9.2% | 7.3% | 6.68% |
| Operating Income Growth % | -0.64% | -42.43% | 9.26% | -11.1% | 435.44% | 110.72% | 445.87% | 108.67% | -59.72% | -12631.5% | 402.06% | 158.66% | 104.34% | 89.13% | -94.37% | -63.92% | -29.62% | -113.59% | 50.13% | 26.73% |
| EBITDA | 259.69M | 724.96M | 739.33M | 723.11M | 675.97M | 675.74M | 517.18M | 583.33M | 423.5M | -1.73B | 493.79M | 526.28M | 546.89M | 432.1M | 417.4M | 421.93M | 406M | 191.46M | 430.85M | 397.68M |
| EBITDA Margin % | 9.65% | 27.36% | 28.79% | 29.71% | 30.09% | 30.08% | 24.93% | 29.26% | 22.31% | -91.15% | 26.17% | 28.89% | 30.29% | 22.98% | 23.01% | 24.46% | 24.66% | 11.02% | 27.61% | 26.57% |
| EBITDA Growth % | -61.58% | 7.28% | 42.95% | 23.96% | 59.61% | 139.05% | 4.74% | 10.84% | -22.56% | -500.49% | 18.3% | 24.73% | 34.7% | 125.69% | -3.12% | 6.1% | 6.78% | -15.32% | 24.76% | 34.88% |
| D&A (Non-Cash Add-back) | 0 | 588.53M | 547.36M | 550.09M | 427.44M | 438.74M | 341.48M | 388.71M | 377.09M | 481.07M | 461.6M | 433.01M | 431.65M | 449.47M | 410.99M | 385.88M | 349.61M | 351.26M | 316.95M | 297.74M |
| EBIT | 259.69M | 136.43M | 191.97M | 173.02M | 248.53M | 237M | 175.7M | 219.97M | 37.43M | -2.29B | 32.19M | 93.27M | 218.42M | 16.41M | -289.12M | -275.12M | 56.39M | -159.81M | 289.25M | 600.67M |
| Net Interest Income | -210.65M | -181.89M | -142.29M | -140.64M | -93.9M | -70.96M | -89.78M | -86.72M | -125.55M | -65.68M | -78.91M | -61.67M | -64.11M | -64.17M | -69.28M | -59.72M | -48.57M | -66.43M | -78.86M | -78.99M |
| Interest Income | 10.39M | 4.94M | 8.72M | 16.87M | 6.75M | 6.16M | 4.22M | 5.45M | 12.13M | 13.2M | 12.89M | 10.04M | 5.68M | 8.76M | 9.46M | 8.81M | 4.55M | 8.94M | 9.15M | 8.1M |
| Interest Expense | 221.04M | 186.83M | 151.02M | 157.51M | 100.65M | 77.13M | 94M | 92.17M | 137.68M | 78.88M | 91.8M | 71.71M | 69.79M | 72.92M | 78.73M | 68.53M | 53.12M | 75.36M | 88.01M | 87.09M |
| Other Income/Expense | -205.67M | 587.71M | -444.48M | -61.24M | -416.69M | -151M | 179.62M | -63.62M | -144.06M | -161.07M | -65.75M | -318.29M | 33.4M | -39.97M | -374.64M | -378.62M | 83.29M | 150.85M | 75.31M | 390.41M |
| Pretax Income | 41.26M | 724.14M | -252.51M | 111.78M | -168.16M | 86M | 355.32M | 131M | -97.64M | -2.37B | -33.57M | -225.03M | 148.63M | -57.34M | -368.23M | -342.56M | 139.68M | -8.95M | 189.21M | 490.35M |
| Pretax Margin % | 1.53% | 27.33% | -9.83% | 4.59% | -7.49% | 3.83% | 17.13% | 6.57% | -5.14% | -124.98% | -1.78% | -12.35% | 8.23% | -3.05% | -20.3% | -19.86% | 8.48% | -0.52% | 12.13% | 32.76% |
| Income Tax | 486.16M | 383.56M | 21.35M | 95.05M | 52.06M | 82.55M | 30.46M | 59.15M | 61.38M | 50.63M | 6.32M | 12.54M | 44.89M | 101K | 55.72M | 30.95M | 46.73M | 15.55M | 29.06M | 29.52M |
| Effective Tax Rate % | 1178.26% | 52.97% | -8.46% | 85.03% | -30.96% | 95.99% | 8.57% | 45.15% | -62.87% | -2.13% | -18.82% | -5.57% | 30.2% | -0.18% | -15.13% | -9.03% | 33.45% | -173.65% | 15.36% | 6.02% |
| Net Income | -2.23B | 295.7M | -307.07M | -11.98M | -237.56M | -11.1M | 310.65M | 63.67M | -187M | -2.44B | -50.46M | -232.88M | 82.29M | -64.24M | -423.57M | -377.2M | 90.71M | -27.28M | 156.18M | 455.85M |
| Net Margin % | -82.84% | 11.16% | -11.96% | -0.49% | -10.58% | -0.49% | 14.98% | 3.19% | -9.85% | -128.67% | -2.67% | -12.78% | 4.56% | -3.42% | -23.35% | -21.87% | 5.51% | -1.57% | 10.01% | 30.45% |
| Net Income Growth % | -838.49% | 2764.89% | -198.85% | -118.82% | -27.03% | 99.55% | 715.61% | 127.34% | -327.24% | -3702.36% | 88.09% | 38.26% | -9.28% | -135.52% | -371.2% | -182.75% | 207.14% | 97.31% | 60.77% | 127.59% |
| Net Income (Continuing) | -444.9M | 340.58M | -273.87M | 16.77M | -220.22M | 3.45M | 324.86M | 71.85M | -159.03M | -2.42B | -39.88M | -237.57M | 103.57M | -57.44M | -423.95M | -373.51M | 92.95M | -24.54M | 160.15M | 460.83M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 5.76B | 2.35B | 1.84B | 1.45B | 1.43B | 554.88M | 523.94M | 536.17M | 528.13M | 499.39M | 485.9M | 473.97M | 468.78M | 366.9M | 368.02M | 365M | 361.49M | 358.35M | 355.5M | 348.24M |
| EPS (Diluted) | -8.16 | 0.96 | -1.14 | -0.06 | -0.90 | -0.04 | 1.08 | 0.24 | -0.72 | -15.90 | -0.34 | -1.56 | 0.42 | -0.38 | -2.88 | -2.58 | 0.58 | -0.18 | 1.02 | 3.00 |
| EPS Growth % | -806.67% | 2418.84% | -205.56% | -125% | -25% | 99.74% | 417.65% | 115.38% | -271.43% | -4084.21% | 88.19% | 39.53% | -27.59% | -111.11% | -382.35% | -186% | 198.31% | 97.64% | 41.67% | 120% |
| EPS (Basic) | -8.16 | 1.14 | -1.14 | -0.04 | -0.90 | -0.04 | 1.44 | 0.24 | -0.72 | -15.90 | -0.34 | -1.56 | 0.54 | -0.38 | -2.88 | -2.58 | 0.58 | -0.19 | 1.08 | 3.12 |
| Diluted Shares Outstanding | 274.14M | 293.77M | 268.95M | 268.41M | 265.6M | 268.05M | 290.09M | 261.38M | 261.38M | 153.84M | 148.18M | 148.12M | 176.14M | 148.06M | 148.07M | 147.7M | 156.36M | 150.3M | 149.61M | 150.91M |
| Basic Shares Outstanding | 274.14M | 269.38M | 268.95M | 268.41M | 265.6M | 265.6M | 223.16M | 261.38M | 261.38M | 153.84M | 148.18M | 148.12M | 176.14M | 148.06M | 147.64M | 147.7M | 156.36M | 144.64M | 143.94M | 144.94M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |