🚀 VC round data is live in beta, check it out!
VNET Group Valuation Multiples
Discover revenue and EBITDA valuation multiples for VNET Group and similar public comparables like Fujian Star-Net, Time Dotcom, DigitalBridge Group, Solusi Tunas Pratama and more.
VNET Group Overview
About VNET Group
VNET started as AsiaCloud in 1999 and moved into the data center business, opening its first self-developed data center in 2010. The firm listed (as 21Vianet) on the Nasdaq in April 2011, subsequently changing its name to VNET Group in 2021. It originally focused on providing data center services such as colocation and cloud services to retail clients in China, but added hyperscale customers in 2019 and now counts large Chinese hyperscalers such as Alibaba Cloud, Tencent Cloud, and Huawei Cloud as customers. At the end of September 2025, it had 52,288 retail cabinets, with the majority in Beijing, Shanghai, and the Greater Bay area. It also had 783 MW of wholesale capacity in service, with a further 306 MW under construction and a further 705 MW held for future development.
Founded
2009
HQ
Employees
2.6K
Website
Financials (LTM)
EV
$6B
VNET Group Financials
VNET Group reported last 12-month revenue of $2B and EBITDA of $463M.
In the same LTM period, VNET Group generated $337M in gross profit, $463M in EBITDA, and had net loss of ($19M).
Revenue (LTM)
VNET Group P&L
In the most recent fiscal year, VNET Group reported revenue of $1B and EBITDA of $461M.
VNET Group expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $2B | XXX | $1B | XXX | XXX | XXX |
| Gross Profit | $337M | XXX | $321M | XXX | XXX | XXX |
| Gross Margin | 22% | XXX | 22% | XXX | XXX | XXX |
| EBITDA | $463M | XXX | $461M | XXX | XXX | XXX |
| EBITDA Margin | 30% | XXX | 32% | XXX | XXX | XXX |
| EBIT Margin | 8% | XXX | 8% | XXX | XXX | XXX |
| Net Profit | ($19M) | XXX | ($36M) | XXX | XXX | XXX |
| Net Margin | (1%) | XXX | (3%) | XXX | XXX | XXX |
| Net Debt | — | — | $2B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
VNET Group Stock Performance
VNET Group has current market cap of $3B, and enterprise value of $6B.
Market Cap Evolution
VNET Group's stock price is $9.39.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $6B | $3B | -0.1% | XXX | XXX | XXX | $-0.13 |
Benchmark Trading Valuation Multiples by Industry
Sign up to access valuation multiples like growth-adjusted P/E, Rule of 40, next 12-month EV/Revenue, EBITDA multiples by industry, consensus analyst estimates and many more.
Start Free TrialVNET Group Valuation Multiples
VNET Group trades at 3.9x EV/Revenue multiple, and 12.8x EV/EBITDA.
EV / Revenue (LTM)
VNET Group Financial Valuation Multiples
As of April 20, 2026, VNET Group has market cap of $3B and EV of $6B.
Equity research analysts estimate VNET Group's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
VNET Group has a P/E ratio of (138.0x).
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $3B | XXX | $3B | XXX | XXX | XXX |
| EV (current) | $6B | XXX | $6B | XXX | XXX | XXX |
| EV/Revenue | 3.9x | XXX | 4.1x | XXX | XXX | XXX |
| EV/EBITDA | 12.8x | XXX | 12.9x | XXX | XXX | XXX |
| EV/EBIT | 48.4x | XXX | 51.9x | XXX | XXX | XXX |
| EV/Gross Profit | 17.6x | XXX | 18.5x | XXX | XXX | XXX |
| P/E | (138.0x) | XXX | (73.2x) | XXX | XXX | XXX |
| EV/FCF | (6.4x) | XXX | (7.1x) | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified VNET Group Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
VNET Group Margins & Growth Rates
VNET Group's revenue in the last 12 month grew by 19%.
VNET Group's revenue per employee in the last FY averaged $0.6M, while opex per employee averaged $0.1M for the same period.
VNET Group's rule of 40 is 48% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
VNET Group's rule of X is 74% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
VNET Group Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 19% | XXX | 17% | XXX | XXX | XXX |
| EBITDA Margin | 30% | XXX | 32% | XXX | XXX | XXX |
| EBITDA Growth | 24% | XXX | 16% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 48% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 74% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.6M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 3% | XXX | 3% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 8% | XXX | 8% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 3% | XXX | 3% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 14% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
VNET Group Public Comps
See public comps and valuation multiples for other Data Centers and Cloud Infrastructure comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| VNET Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Fujian Star-Net | XXX | XXX | XXX | XXX | XXX | XXX |
| Time Dotcom | XXX | XXX | XXX | XXX | XXX | XXX |
| DigitalBridge Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Solusi Tunas Pratama | XXX | XXX | XXX | XXX | XXX | XXX |
| Netweb Technologies India | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
VNET Group M&A Activity
VNET Group acquired XXX companies to date.
Last acquisition by VNET Group was on XXXXXXXX, XXXXX. VNET Group acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by VNET Group
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Get Verified M&A Valuation Multiples
Sign up to see revenue and EBITDA valuation multiples for 150K+ M&A deals.
Start Free TrialVNET Group Investment Activity
VNET Group invested in XXX companies to date.
VNET Group made its latest investment on XXXXXXXX, XXXXX. VNET Group invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by VNET Group
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAbout VNET Group
| When was VNET Group founded? | VNET Group was founded in 2009. |
| Where is VNET Group headquartered? | VNET Group is headquartered in China. |
| How many employees does VNET Group have? | As of today, VNET Group has over 2K employees. |
| Who is the CEO of VNET Group? | VNET Group's CEO is Josh Sheng Chen. |
| Is VNET Group publicly listed? | Yes, VNET Group is a public company listed on Nasdaq. |
| What is the stock symbol of VNET Group? | VNET Group trades under VNET ticker. |
| When did VNET Group go public? | VNET Group went public in 2011. |
| Who are competitors of VNET Group? | VNET Group main competitors are Fujian Star-Net, Time Dotcom, DigitalBridge Group, Solusi Tunas Pratama. |
| What is the current market cap of VNET Group? | VNET Group's current market cap is $3B. |
| What is the current revenue of VNET Group? | VNET Group's last 12 months revenue is $2B. |
| What is the current revenue growth of VNET Group? | VNET Group revenue growth (NTM/LTM) is 19%. |
| What is the current EV/Revenue multiple of VNET Group? | Current revenue multiple of VNET Group is 3.9x. |
| Is VNET Group profitable? | Yes, VNET Group is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of VNET Group? | VNET Group's last 12 months EBITDA is $463M. |
| What is VNET Group's EBITDA margin? | VNET Group's last 12 months EBITDA margin is 30%. |
| What is the current EV/EBITDA multiple of VNET Group? | Current EBITDA multiple of VNET Group is 12.8x. |
| What is the current FCF of VNET Group? | VNET Group's last 12 months FCF is ($921M). |
| What is VNET Group's FCF margin? | VNET Group's last 12 months FCF margin is (61%). |
| What is the current EV/FCF multiple of VNET Group? | Current FCF multiple of VNET Group is (6.4x). |
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.