Vnet (VNET) Net Margin (2010 - 2026)
Vnet's (VNET) quarterly Net Margin came in at 5.21% in Q2 2026, up 446.0% year-over-year from 0.95% in Q2 2025, and up 93.69% quarter-over-quarter from 82.5% in Q1 2026.
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Analysis
Vnet (VNET) Net Margin (2010 - 2026) Analysis & Trends
Vnet has disclosed Net Margin across 17 years of filings, most recently posting 5.21% for Q2 2026.
- In Q2 2026, Net Margin rose 446.0% year-over-year to 5.21%; the TTM figure through Jun 2026 stood at 22.19% (down 2039.0% YoY), while the FY2025 annual figure was 2.58%, up 51.0% from the prior year.
- Net Margin came in at 5.21% for Q2 2026 at Vnet, up from 82.5% in the prior quarter.
- In the past five years, Net Margin ranged from a high of 14.66% in Q3 2024 to a low of 120.55% in Q4 2023.
- Average Net Margin over 5 years is 14.43%, with a median of 4.31% recorded in 2026.
- Year-over-year, Net Margin plunged 11714 bps in 2023 and surged 12005 bps in 2024.
- Over 5 years, Net Margin stood at 3.42% in 2022, then slumped by 3429 bps to 120.55% in 2023, then jumped by 100 bps to 0.5% in 2024, then jumped by 2323 bps to 11.16% in 2025, then tumbled by 147 bps to 5.21% in 2026.
- Per Business Quant data, the three most recent Net Margin figures were 5.21% in Q2 2026, 82.5% in Q1 2026, and 11.16% in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Equinix | 102.92 Bn | 100.69 Bn | 1.40 Bn | 18.17% |
| 2 | Terawulf | 8.33 Bn | 5.57 Bn | 32.37 Mn | -2,076.90% |
| 3 | Applied Digital | 7.46 Bn | 3.49 Bn | 97.29 Mn | -43.18% |
| 4 | Cipher Digital | 6.94 Bn | 2.92 Bn | 9.79 Mn | -1,077.14% |
| 5 | GDS Holdings | 6.17 Bn | 3.98 Bn | 97.89 Mn | 27.05% |
| 6 | Core Scientific | 5.88 Bn | 3.94 Bn | 70.04 Mn | -703.59% |
| 7 | Vnet | 1.75 Bn | 757.22 Mn | 74.45 Mn | -5.21% |
| 8 | Sify Technologies | 1.55 Bn | 1.55 Bn | 51.65 Mn | 10.40% |
| 9 | WhiteFiber | 745.81 Mn | 685.44 Mn | 18.88 Mn | -51.93% |
| 10 | Vulcan Infrastructure & Power | 445.09 Mn | 441.89 Mn | -1.25 Mn | -292.38% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -5.21% |
| Mar 31, 2026 | -82.50% |
| Dec 31, 2025 | 11.16% |
| Sep 30, 2025 | -11.83% |
| Jun 30, 2025 | -9.67% |
| Mar 31, 2025 | -10.56% |
| Dec 31, 2024 | -0.50% |
| Sep 30, 2024 | 14.66% |
| Jun 30, 2024 | 3.21% |
| Mar 31, 2024 | -2.07% |
| Dec 31, 2023 | -120.55% |
| Sep 30, 2023 | -1.61% |
| Jun 30, 2023 | -11.72% |
| Mar 31, 2023 | 10.72% |
| Dec 31, 2022 | -3.42% |
| Sep 30, 2022 | -23.44% |
| Jun 30, 2022 | -21.87% |
| Mar 31, 2022 | 5.51% |
| Dec 31, 2021 | -1.56% |
| Sep 30, 2021 | 10.01% |