Vnet (VNET) Gross Margin (2010 - 2025)
Vnet (VNET) reported Gross Margin of 20.11% for Q4 2025, down 236.0% on a YoY basis from 14.79% in Q4 2024, and down 3.68% sequentially from 20.88% in Q3 2025.
Vnet (VNET) Gross Margin (2010 - 2025) Analysis & Trends
Vnet (VNET) has 16 years of Gross Margin data on file, last reported at 20.11% in Q4 2025.
- For the quarter ending Q4 2025, Gross Margin fell 236.0% year-over-year to 20.11%; the trailing twelve-month figure through Dec 2025 stood at 22.01% (down 18.0% YoY), and the FY2025 full-year result was 22.04%, down 15.0% from the prior year.
- Gross Margin fell to 20.11% in Q4 2025, 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.
- A 5-year average of 20.88% and a median of 21.46% in 2022 frame the typical range for Gross Margin.
- Across the five-year window, Gross Margin tumbled 660 bps in 2022 and surged 715 bps in 2024, its largest moves.
- Tracing VNET's Gross Margin over 5 years: stood at 21.77% in 2021, then fell by 20 bps to 17.46% in 2022, then slipped by 12 bps to 15.32% in 2023, then surged by 47 bps to 22.47% in 2024, then slipped by 11 bps to 20.11% in 2025.
- Business Quant data shows VNET's Gross Margin at 20.11% in Q4 2025, 20.88% in Q3 2025, and 22.5% in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | International Business Machines | 193.88 Bn | 178.95 Bn | 9.91 Bn | 57.73% |
| 2 | Accenture | 84.94 Bn | 75.26 Bn | 6.13 Bn | 32.77% |
| 3 | GDS Holdings | 50.55 Bn | 48.40 Bn | 164.04 Mn | 33.61% |
| 4 | Infosys | 44.05 Bn | 44.79 Bn | 1.60 Bn | 31.48% |
| 5 | Cgi | 41.25 Bn | 40.60 Bn | - | - |
| 6 | Fidelity National Information Services | 20.63 Bn | 19.87 Bn | 1.11 Bn | 33.63% |
| 7 | Cognizant Technology Solutions | 20.39 Bn | 18.87 Bn | 1.78 Bn | 32.79% |
| 8 | Wipro | 18.65 Bn | 17.52 Bn | 738.00 Mn | 28.54% |
| 9 | Broadridge Financial Solutions | 16.79 Bn | 16.48 Bn | 626.90 Mn | 32.09% |
| 10 | Vnet | 12.53 Bn | 12.66 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% |