Vnet (VNET) Operating Expenses (2010 - 2025)
Vnet (VNET) posted Operating Expenses of -$55.4 million for Q4 2025, down 18.32% sequentially from -$46.8 million in Q3 2025, and down 50.95% YoY from -$112.9 million in Q4 2024.
Vnet (VNET) Operating Expenses (2010 - 2025) Analysis & Trends
Vnet has reported Operating Expenses for 16 years, with the latest figure at -$55.4 million in Q4 2025.
- Quarterly Operating Expenses fell 50.95% year-over-year to -$55.4 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was -$198.2 million (down 22.61% YoY) and the FY2025 annual result came in at $201.9 million, up 26.77% from the prior year.
- Operating Expenses fell to -$55.4 million in Q4 2025 per VNET's latest filing, from -$46.8 million in the prior quarter.
- Over five years, Operating Expenses peaked at -$31.7 million in Q2 2024 and troughed at -$352.5 million in Q4 2023.
- A 5-year average of -$61.1 million and a median of -$43.2 million in 2022 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2023 and 2024: Operating Expenses plunged 603.11% in 2023, then jumped 89.59% in 2024.
- Over 5 years, Operating Expenses stood at -$102.0 million in 2021, then jumped by 50.83% to -$50.1 million in 2022, then slumped by 603.11% to -$352.5 million in 2023, then surged by 89.59% to -$36.7 million in 2024, then tumbled by 50.95% to -$55.4 million in 2025.
- According to Business Quant data, Operating Expenses over the past three periods registered -$55.4 million, -$46.8 million, and -$52.3 million for Q4 2025, Q3 2025, and Q2 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | International Business Machines | 219.38 Bn | 208.02 Bn | 9.91 Bn | 7.29 Bn |
| 2 | Accenture | 111.06 Bn | 100.89 Bn | 6.13 Bn | 15.54 Bn |
| 3 | Infosys | 47.96 Bn | 47.96 Bn | 1.60 Bn | 528.00 Mn |
| 4 | Cgi | 32.80 Bn | 32.34 Bn | - | 12.44 Mn |
| 5 | Cognizant Technology Solutions | 28.32 Bn | 27.27 Bn | 1.83 Bn | 812.00 Mn |
| 6 | Fidelity National Information Services | 20.92 Bn | 20.17 Bn | 1.17 Bn | 684.00 Mn |
| 7 | Broadridge Financial Solutions | 20.67 Bn | 20.27 Bn | 853.00 Mn | 1.67 Bn |
| 8 | Wipro | 19.82 Bn | 18.75 Bn | 738.00 Mn | 2.23 Bn |
| 9 | Leidos Holdings | 17.78 Bn | 17.03 Bn | 817.00 Mn | 310.00 Mn |
| 10 | Vnet | 1.78 Bn | 950.66 Mn | 77.27 Mn | -55.40 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -55.40 Mn |
| Sep 30, 2025 | -46.82 Mn |
| Jun 30, 2025 | -52.31 Mn |
| Mar 31, 2025 | -43.66 Mn |
| Dec 31, 2024 | -36.70 Mn |
| Sep 30, 2024 | -42.79 Mn |
| Jun 30, 2024 | -31.69 Mn |
| Mar 31, 2024 | -50.46 Mn |
| Dec 31, 2023 | -352.46 Mn |
| Sep 30, 2023 | -37.59 Mn |
| Jun 30, 2023 | -34.41 Mn |
| Mar 31, 2023 | -34.53 Mn |
| Dec 31, 2022 | -50.13 Mn |
| Sep 30, 2022 | -43.60 Mn |
| Jun 30, 2022 | -48.03 Mn |
| Mar 31, 2022 | -40.93 Mn |
| Dec 31, 2021 | -101.96 Mn |
| Sep 30, 2021 | -40.56 Mn |
| Jun 30, 2021 | -40.65 Mn |
| Mar 31, 2021 | -37.12 Mn |