Vnet (VNET) Cost of Revenue (2010 - 2026)
Vnet's Cost of Revenue came in at $335.08 million for the quarter ended Jun 30, 2026, up 27.2% from $263.34 million a year earlier and up 11.4% from the prior quarter.
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Analysis
Vnet (VNET) Cost of Revenue (2010 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Vnet reported Cost of Revenue of $1.23 billion, up 27.4% year-over-year; for the year ended Dec 31, 2025, it was $1.11 billion, up 26.0% from the prior year.
- Cost of Revenue carries a five-year compound annual growth rate of 577.5% (years ended Dec 2020 to Dec 2025).
- Going back by year, Cost of Revenue was $880.48 million in the year ended Dec 31, 2024 (+2.1%), $862.05 million in the year ended Dec 31, 2023, $82,743 in the year ended Dec 31, 2022 (+11.0%) and $74,566 in the year ended Dec 31, 2021 (-4.0%).
- The figure for the quarter ended Jun 30, 2026 represents the highest quarterly Cost of Revenue in data going back to the quarter ended Mar 31, 2010.
- Year-over-year, Cost of Revenue has increased for nine consecutive quarters, with growth averaging 19.5% over the last eight quarters.
- The fastest year-over-year change in Cost of Revenue over five years came in the quarter ended Dec 31, 2021 (growth of 32.7%), and the weakest in the quarter ended Mar 31, 2024 (a decline of 2.7%).
- Business Quant data shows VNET's Cost of Revenue at $300.85 million (quarter ended Mar 31, 2026), $306.98 million (quarter ended Dec 31, 2025) and $286.94 million (quarter ended Sep 30, 2025) in the three quarters before the quarter ended Jun 30, 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,895.54 Bn | 3,818.69 Bn | 60.48 Bn | 29.53 Bn |
| 2 | International Business Machines | 238.91 Bn | 189.81 Bn | 9.91 Bn | 7.26 Bn |
| 3 | Cloudflare | 105.03 Bn | 88.56 Bn | 499.52 Mn | 196.54 Mn |
| 4 | Equinix | 94.23 Bn | 82.79 Bn | 1.40 Bn | 1.23 Bn |
| 5 | Nebius | 40.16 Bn | 13.60 Bn | 448.70 Mn | 133.60 Mn |
| 6 | CoreWeave | 29.89 Bn | 16.98 Bn | 1.70 Bn | 879.00 Mn |
| 7 | Verisign | 26.97 Bn | 24.32 Bn | 393.20 Mn | 49.80 Mn |
| 8 | Nutanix | 19.10 Bn | 10.78 Bn | 651.35 Mn | 105.73 Mn |
| 9 | GoDaddy | 14.18 Bn | 9.76 Bn | 828.20 Mn | 469.80 Mn |
| 10 | Vnet | 996.92 Mn | -2.63 Bn | 74.45 Mn | 335.08 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 335.08 Mn |
| Mar 31, 2026 | 300.85 Mn |
| Dec 31, 2025 | 306.98 Mn |
| Sep 30, 2025 | 286.94 Mn |
| Jun 30, 2025 | 263.34 Mn |
| Mar 31, 2025 | 231.63 Mn |
| Dec 31, 2024 | -647.52 Mn |
| Sep 30, 2024 | 232.15 Mn |
| Jun 30, 2024 | 215.88 Mn |
| Mar 31, 2024 | 206.00 Mn |
| Dec 31, 2023 | -619.73 Mn |
| Sep 30, 2023 | 216.62 Mn |
| Jun 30, 2023 | 203.96 Mn |
| Mar 31, 2023 | 211.63 Mn |
| Dec 31, 2022 | 225.06 Mn |
| Sep 30, 2022 | 210.53 Mn |
| Jun 30, 2022 | 204.10 Mn |
| Mar 31, 2022 | 203.49 Mn |
| Dec 31, 2021 | 214.27 Mn |
| Sep 30, 2021 | 183.94 Mn |
API Access
Vnet Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=VNET&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "VNET", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=VNET&period=max&api_key=YOUR_API_KEY");
const data = await res.json();