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Ratios
Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginGross MarginInterest Coverage RatioInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

Vnet (VNET) Operating Margin (2016 - 2025)

Vnet has reported Operating Margin over the past 16 years, most recently at 5.69% for Q4 2025.

  • For Q4 2025, Operating Margin fell 486.0% year-over-year to 5.69%; the TTM value through Dec 2025 reached 4.14%, down 397.0%, while the annual FY2025 figure was 7.84%, 26.0% down from the prior year.
  • Operating Margin was 5.69% for Q4 2025 at Vnet, up from 0.49% in the prior quarter.
  • Across five years, Operating Margin topped out at 11.06% in Q1 2025 and bottomed at 116.49% in Q4 2023.
  • The 5-year median for Operating Margin is 5.41% (2023), against an average of 2.14%.
  • Year-over-year, Operating Margin tumbled -11557bps in 2023 and then soared 12704bps in 2024.
  • Over 5 years, Operating Margin stood at 15.46% in 2021, then surged by 94bps to 0.92% in 2022, then tumbled by -12510bps to 116.49% in 2023, then surged by 109bps to 10.55% in 2024, then tumbled by -46bps to 5.69% in 2025.
  • The last three reported values for Operating Margin were 5.69% (Q4 2025), 0.49% (Q3 2025), and 0.05% (Q2 2025) per Business Quant data.