Vnet (VNET) Operating Margin (2010 - 2026)
Vnet's Operating Margin came in at 1.44% for the quarter ended Jun 30, 2026, up 1.48 percentage points from -0.05% a year earlier and up 1.43 percentage points from the prior quarter.
Vnet (VNET) Operating Margin (2010 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Vnet reported Operating Margin of 0.63%, down 0.58 percentage points year-over-year; for the year ended Dec 31, 2025, it came in at 0.28%, down 1.11 percentage points from the prior year.
- Operating Margin carries a five-year change of -2.12 percentage points (years ended Dec 2020 to Dec 2025).
- Going back by year, Operating Margin was 1.39% in the year ended Dec 31, 2024 (-0.05 pp), 1.43% in the year ended Dec 31, 2023 (+0.58 pp), 0.85% in the year ended Dec 31, 2022 (+0.51 pp) and 0.34% in the year ended Dec 31, 2021 (-2.06 pp).
- The figure for the quarter ended Jun 30, 2026 represents the highest quarterly Operating Margin since the quarter ended Dec 31, 2024.
- Year-over-year, Operating Margin increased in two of the last eight quarters, with an average year-over-year change of +13.41 percentage points.
- The fastest year-over-year change in Operating Margin over five years came in the quarter ended Dec 31, 2024 (a gain of 120.89 percentage points), and the weakest in the quarter ended Dec 31, 2023 (a drop of 115.57 percentage points).
- Business Quant data shows VNET's Operating Margin at 0.00% (quarter ended Mar 31, 2026), 0.55% (quarter ended Dec 31, 2025) and 0.49% (quarter ended Sep 30, 2025) in the three quarters before the quarter ended Jun 30, 2026.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,931.50 Bn | 3,854.66 Bn | 60.48 Bn | 45.11% |
| 2 | International Business Machines | 230.38 Bn | 181.20 Bn | 9.91 Bn | 15.24% |
| 3 | Cloudflare | 108.87 Bn | 92.39 Bn | 499.52 Mn | -29.55% |
| 4 | Equinix | 97.40 Bn | 85.97 Bn | 1.40 Bn | 25.33% |
| 5 | Nebius | 41.66 Bn | 15.09 Bn | 448.70 Mn | -30.21% |
| 6 | CoreWeave | 34.04 Bn | 21.14 Bn | 1.70 Bn | -1.90% |
| 7 | Verisign | 27.90 Bn | 25.11 Bn | 384.60 Mn | 68.18% |
| 8 | Nutanix | 18.86 Bn | 10.55 Bn | 651.35 Mn | 9.24% |
| 9 | GoDaddy | 14.24 Bn | 9.81 Bn | 828.20 Mn | 26.39% |
| 10 | Vnet | 1.12 Bn | -2.61 Bn | 74.45 Mn | 8.25% |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 8.25% |
| Mar 31, 2026 | 9.18% |
| Dec 31, 2025 | 5.69% |
| Sep 30, 2025 | 0.49% |
| Jun 30, 2025 | -0.05% |
| Mar 31, 2025 | 11.06% |
| Sep 30, 2024 | 9.03% |
| Jun 30, 2024 | 9.76% |
| Mar 31, 2024 | 2.45% |
| Sep 30, 2023 | 1.71% |
| Jun 30, 2023 | 5.12% |
| Mar 31, 2023 | 6.38% |
| Dec 31, 2022 | -0.92% |
| Sep 30, 2022 | 0.35% |
| Jun 30, 2022 | 2.09% |
| Mar 31, 2022 | 5.84% |
| Dec 31, 2021 | -15.46% |
| Sep 30, 2021 | 7.30% |
| Jun 30, 2021 | 6.48% |
| Mar 31, 2021 | 5.78% |
Vnet Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=VNET&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "VNET", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=VNET&period=max&api_key=YOUR_API_KEY");
const data = await res.json();