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Ratios
Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginGross MarginInterest Coverage RatioInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

Vnet (VNET) Gross Margin (2016 - 2025)

Vnet has reported Gross Margin over the past 16 years, most recently at 20.11% for Q4 2025.

  • For Q4 2025, Gross Margin fell 236.0% year-over-year to 20.11%; the TTM value through Dec 2025 reached 22.01%, down 18.0%, while the annual FY2025 figure was 22.04%, 15.0% down from the prior year.
  • Gross Margin was 20.11% for Q4 2025 at Vnet, down from 20.88% in the prior quarter.
  • Across five years, Gross Margin topped out at 25.17% in Q1 2025 and bottomed at 15.32% in Q4 2023.
  • The 5-year median for Gross Margin is 21.46% (2022), against an average of 20.88%.
  • Year-over-year, Gross Margin tumbled -660bps in 2022 and then surged 715bps in 2024.
  • Over 5 years, Gross Margin stood at 21.77% in 2021, then fell by -20bps to 17.46% in 2022, then fell by -12bps to 15.32% in 2023, then surged by 47bps to 22.47% in 2024, then fell by -11bps to 20.11% in 2025.
  • The last three reported values for Gross Margin were 20.11% (Q4 2025), 20.88% (Q3 2025), and 22.5% (Q2 2025) per Business Quant data.