Vnet (VNET) Gross Margin (2010 - 2025)
Vnet's (VNET) quarterly Gross Margin came in at 20.11% in Q4 2025, down 236.0% year-on-year from 14.79% in Q4 2024, and down 3.68% quarter-over-quarter from 20.88% in Q3 2025.
Vnet (VNET) Gross Margin (2010 - 2025) Analysis & Trends
Vnet has disclosed Gross Margin across 16 years of filings, most recently posting 20.11% for Q4 2025.
- Gross Margin for Q4 2025 came in at 20.11%, down 236.0% year-over-year; the trailing twelve-month figure through Dec 2025 was 22.01% (down 18.0% YoY), and the FY2025 annual result was 22.04%, down 15.0% from the prior year.
- Gross Margin came in at 20.11% for Q4 2025 at Vnet, down from 20.88% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 25.17% in Q1 2025 to a low of 15.32% in Q4 2023.
- The 5-year median for Gross Margin is 21.46% (2022), against an average of 20.88%.
- Across the five-year window, Gross Margin sank 660 bps in 2022 and surged 715 bps in 2024, its largest moves.
- Vnet's Gross Margin stood at 21.77% in 2021, then retreated by 20 bps to 17.46% in 2022, then dropped by 12 bps to 15.32% in 2023, then soared by 47 bps to 22.47% in 2024, then dropped by 11 bps to 20.11% in 2025.
- The last three Gross Margin figures came in at 20.11% (Q4 2025), 20.88% (Q3 2025), and 22.5% (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Infosys | 250,975,992.28 Bn | 250,975,991.00 Bn | 1.56 Bn | 30.85% |
| 2 | International Business Machines | 267.32 Bn | 252.39 Bn | 8.95 Bn | 56.23% |
| 3 | Wipro | 138.60 Bn | 137.44 Bn | 751.00 Mn | 29.07% |
| 4 | Accenture | 109.98 Bn | 101.66 Bn | 16.30 Bn | 90.31% |
| 5 | Cognizant Technology Solutions | 25.38 Bn | 23.86 Bn | 1.78 Bn | 32.79% |
| 6 | Fidelity National Information Services | 21.09 Bn | 20.34 Bn | 1.11 Bn | 33.63% |
| 7 | Broadridge Financial Solutions | 17.60 Bn | 17.30 Bn | 626.90 Mn | 32.09% |
| 8 | Cdw | 17.16 Bn | 16.58 Bn | 1.19 Bn | 20.95% |
| 9 | Leidos Holdings | 15.68 Bn | 15.27 Bn | 761.00 Mn | 17.30% |
| 10 | Vnet | 2.01 Bn | 1.42 Bn | 77.27 Mn | 20.11% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 20.11% |
| Sep 30, 2025 | 20.88% |
| Jun 30, 2025 | 22.50% |
| Mar 31, 2025 | 25.17% |
| Dec 31, 2024 | 22.47% |
| Sep 30, 2024 | 23.18% |
| Jun 30, 2024 | 21.31% |
| Mar 31, 2024 | 21.64% |
| Dec 31, 2023 | 15.32% |
| Sep 30, 2023 | 16.24% |
| Jun 30, 2023 | 18.81% |
| Mar 31, 2023 | 19.51% |
| Dec 31, 2022 | 17.46% |
| Sep 30, 2022 | 17.45% |
| Jun 30, 2022 | 20.74% |
| Mar 31, 2022 | 21.61% |
| Dec 31, 2021 | 21.77% |
| Sep 30, 2021 | 24.05% |
| Jun 30, 2021 | 24.02% |
| Mar 31, 2021 | 23.31% |