Vnet (VNET) Gross Margin (2010 - 2025)

Vnet (VNET) posted Gross Margin of 20.11% for Q4 2025, down 3.68% sequentially from 20.88% in Q3 2025, and down 236.0% YoY from 14.79% in Q4 2024.

Vnet (VNET) Gross Margin (2010 - 2025) Analysis & Trends

Vnet has reported Gross Margin for 16 years, with the latest figure at 20.11% in Q4 2025.

Quarterly Gross Margin fell 236.0% year-over-year to 20.11% in Q4 2025, while the trailing twelve-month figure through Dec 2025 was 22.01% (down 18.0% YoY) and the FY2025 annual result came in at 22.04%, down 15.0% from the prior year.
Gross Margin fell to 20.11% in Q4 2025 per VNET's latest filing, from 20.88% in the prior quarter.
Over five years, Gross Margin peaked at 25.17% in Q1 2025 and troughed at 15.32% in Q4 2023.
A 5-year average of 20.88% and a median of 21.46% in 2022 frame the typical range for Gross Margin.
The sharpest annual moves came in 2022 and 2024: Gross Margin sank 660 bps in 2022, then jumped 715 bps in 2024.
Over 5 years, Gross Margin stood at 21.77% in 2021, then slipped by 20 bps to 17.46% in 2022, then fell by 12 bps to 15.32% in 2023, then surged by 47 bps to 22.47% in 2024, then fell by 11 bps to 20.11% in 2025.
According to Business Quant data, Gross Margin over the past three periods registered 20.11%, 20.88%, and 22.5% for Q4 2025, Q3 2025, and Q2 2025 respectively.

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Gross Margin (Qtr)
1	International Business Machines	219.38 Bn	208.02 Bn	9.91 Bn	57.73%
2	Accenture	111.06 Bn	100.89 Bn	6.13 Bn	32.77%
3	Infosys	47.96 Bn	47.96 Bn	1.60 Bn	31.48%
4	Cgi	32.80 Bn	32.34 Bn	-	-
5	Cognizant Technology Solutions	28.32 Bn	27.27 Bn	1.83 Bn	33.37%
6	Fidelity National Information Services	20.92 Bn	20.17 Bn	1.17 Bn	34.76%
7	Broadridge Financial Solutions	20.67 Bn	20.27 Bn	853.00 Mn	38.43%
8	Wipro	19.82 Bn	18.75 Bn	738.00 Mn	28.54%
9	Leidos Holdings	17.78 Bn	17.03 Bn	817.00 Mn	17.92%
10	Vnet	1.78 Bn	950.66 Mn	77.27 Mn	20.11%

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