Vnet (VNET) Gross Margin (2010 - 2026)
Vnet's Gross Margin came in at 18.18% for the quarter ended Jun 30, 2026, down 4.32 percentage points from 22.50% a year earlier and down 4.70 percentage points from the prior quarter.
Vnet (VNET) Gross Margin (2010 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Vnet reported Gross Margin of 20.48%, down 2.83 percentage points year-over-year; for the year ended Dec 31, 2025, it came in at 22.04%, down 0.15 percentage points from the prior year.
- Gross Margin carries a five-year change of -0.26 percentage points (years ended Dec 2020 to Dec 2025).
- Going back by year, Gross Margin was 22.18% in the year ended Dec 31, 2024 (+4.75 pp), 17.44% in the year ended Dec 31, 2023 (-1.79 pp), 19.22% in the year ended Dec 31, 2022 (-4.01 pp) and 23.23% in the year ended Dec 31, 2021 (+0.93 pp).
- The figure for the quarter ended Jun 30, 2026 represents the lowest quarterly Gross Margin since the quarter ended Dec 31, 2023.
- Year-over-year, Gross Margin has declined for four consecutive quarters, with an average year-over-year change of +0.94 percentage points over the last eight quarters.
- The fastest year-over-year change in Gross Margin over five years came in the quarter ended Dec 31, 2024 (a gain of 7.15 percentage points), and the weakest in the quarter ended Sep 30, 2022 (a drop of 6.60 percentage points).
- Business Quant data shows VNET's Gross Margin at 22.89% (quarter ended Mar 31, 2026), 20.11% (quarter ended Dec 31, 2025) and 20.88% (quarter ended Sep 30, 2025) in the three quarters before the quarter ended Jun 30, 2026.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,780.05 Bn | 3,703.20 Bn | 60.48 Bn | 67.20% |
| 2 | International Business Machines | 207.28 Bn | 158.18 Bn | 9.91 Bn | 57.73% |
| 3 | Cloudflare | 113.42 Bn | 96.95 Bn | 499.52 Mn | 71.76% |
| 4 | Equinix | 100.18 Bn | 88.73 Bn | 1.40 Bn | 53.14% |
| 5 | Nebius | 60.05 Bn | 33.49 Bn | 448.70 Mn | 77.06% |
| 6 | CoreWeave | 47.35 Bn | 34.44 Bn | 1.70 Bn | 65.86% |
| 7 | Verisign | 25.30 Bn | 22.51 Bn | 384.60 Mn | 88.50% |
| 8 | Nutanix | 18.96 Bn | 10.65 Bn | 651.35 Mn | 86.03% |
| 9 | Akamai Technologies | 15.57 Bn | 8.98 Bn | 613.75 Mn | 55.81% |
| 10 | Vnet | 1.53 Bn | -1.90 Bn | 74.45 Mn | 18.18% |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 18.18% |
| Mar 31, 2026 | 22.89% |
| 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% |
Vnet Gross Margin 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=gross-margin&ticker=VNET&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "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=gross-margin&ticker=VNET&period=max&api_key=YOUR_API_KEY");
const data = await res.json();