Vnet (VNET) Capital Expenditures (2014 - 2026)
Vnet's (VNET) quarterly Capital Expenditures came in at -$223.0 million in Q2 2026, up 14.57% year-over-year from -$194.7 million in Q2 2025, and up 12.21% quarter-over-quarter from -$254.1 million in Q1 2026.
Analysis
Vnet (VNET) Capital Expenditures (2014 - 2026) Analysis & Trends
Vnet has disclosed Capital Expenditures across 13 years of filings, most recently posting -$223.0 million for Q2 2026.
- In Q2 2026, Capital Expenditures rose 14.57% year-over-year to -$223.0 million; the TTM figure through Jun 2026 stood at -$1.0 billion (down 13.85% YoY), while the FY2025 annual figure was -$1.1 billion, down 62.31% from the prior year.
- Capital Expenditures came in at -$223.0 million for Q2 2026 at Vnet, up from -$254.1 million in the prior quarter.
- In the past five years, Capital Expenditures ranged from a high of -$54.4 million in Q2 2023 to a low of -$306.8 million in Q3 2025.
- Average Capital Expenditures over 5 years is -$172.1 million, with a median of -$151.0 million recorded in 2022.
- Year-over-year, Capital Expenditures jumped 44.13% in 2023 and tumbled 152.35% in 2024.
- Over 5 years, Capital Expenditures stood at -$130.3 million in 2022, then dropped by 10.01% to -$143.3 million in 2023, then slumped by 42.72% to -$204.5 million in 2024, then declined by 26.54% to -$258.8 million in 2025, then gained by 13.83% to -$223.0 million in 2026.
- Per Business Quant data, the three most recent Capital Expenditures figures were -$223.0 million in Q2 2026, -$254.1 million in Q1 2026, and -$258.8 million in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Capital Expenditures (Qtr) |
|---|---|---|---|---|---|
| 1 | Equinix | 100.35 Bn | 98.13 Bn | 1.40 Bn | 1.58 Bn |
| 2 | Terawulf | 7.45 Bn | 4.69 Bn | 32.37 Mn | 855.56 Mn |
| 3 | Cipher Digital | 6.82 Bn | 2.80 Bn | 9.79 Mn | 410.30 Mn |
| 4 | Applied Digital | 6.71 Bn | 2.74 Bn | 97.29 Mn | 1.29 Bn |
| 5 | GDS Holdings | 5.78 Bn | 3.59 Bn | 97.89 Mn | - |
| 6 | Core Scientific | 5.48 Bn | 3.54 Bn | 70.04 Mn | 565.02 Mn |
| 7 | Vnet | 1.63 Bn | 636.30 Mn | 74.45 Mn | -223.03 Mn |
| 8 | Sify Technologies | 1.44 Bn | 1.44 Bn | 51.65 Mn | - |
| 9 | WhiteFiber | 666.74 Mn | 606.37 Mn | 18.88 Mn | - |
| 10 | Vulcan Infrastructure & Power | 432.00 Mn | 428.80 Mn | -1.25 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -223.03 Mn |
| Mar 31, 2026 | -254.05 Mn |
| Dec 31, 2025 | -258.81 Mn |
| Sep 30, 2025 | -306.84 Mn |
| Jun 30, 2025 | -261.08 Mn |
| Mar 31, 2025 | -246.95 Mn |
| Dec 31, 2024 | -204.54 Mn |
| Sep 30, 2024 | -203.33 Mn |
| Jun 30, 2024 | -137.40 Mn |
| Mar 31, 2024 | -139.24 Mn |
| Dec 31, 2023 | -143.31 Mn |
| Sep 30, 2023 | -129.72 Mn |
| Jun 30, 2023 | -54.45 Mn |
| Mar 31, 2023 | -88.64 Mn |
| Dec 31, 2022 | -130.26 Mn |
| Sep 30, 2022 | -79.22 Mn |
| Jun 30, 2022 | -78.81 Mn |
| Mar 31, 2022 | -158.65 Mn |
| Dec 31, 2021 | -146.84 Mn |
| Sep 30, 2021 | -100.97 Mn |