VNET GROUP, INC. |
Real-time Estimate
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2.325 USD | -1.90% |
|
+6.62% | -18.64% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 5,673 | 30,087 | 8,356 | 5,789 | 5,242 | 4,521 | - | - |
| Enterprise Value (EV) 1 | 7,395 | 34,242 | 15,213 | 13,058 | 14,487 | 13,625 | 16,216 | 15,136 |
| P/E ratio | -30.4 x | -8.44 x | 16.8 x | -7.49 x | -1.16 x | -106 x | -117 x | -17.5 x |
| Yield | - | - | - | - | - | - | - | - |
| Capitalization / Revenue | 1.5 x | 6.23 x | 1.35 x | 0.82 x | 0.71 x | 0.57 x | 0.52 x | 0.48 x |
| EV / Revenue | 1.95 x | 7.09 x | 2.46 x | 1.85 x | 1.95 x | 1.73 x | 1.87 x | 1.6 x |
| EV / EBITDA | 7.04 x | 25.9 x | 8.68 x | 6.97 x | 7.1 x | 6.28 x | 6.48 x | 5.17 x |
| EV / FCF | -13.7 x | -19.5 x | -11.7 x | -23.5 x | - | -7.44 x | -15 x | 18.9 x |
| FCF Yield | -7.32% | -5.14% | -8.57% | -4.25% | - | -13.4% | -6.69% | 5.29% |
| Price to Book | 1.15 x | 3.86 x | 1.17 x | 0.88 x | - | 0.42 x | 0.41 x | 0.38 x |
| Nbr of stocks (in thousands) | 112,393 | 132,923 | 145,672 | 148,024 | 257,364 | 263,211 | - | - |
| Reference price 2 | 50.47 | 226.4 | 57.36 | 39.11 | 20.37 | 17.18 | 17.18 | 17.18 |
| Announcement Date | 3/4/20 | 3/23/21 | 3/30/22 | 3/21/23 | 3/27/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,789 | 4,829 | 6,190 | 7,065 | 7,413 | 7,890 | 8,672 | 9,482 |
| EBITDA 1 | 1,050 | 1,324 | 1,754 | 1,873 | 2,039 | 2,171 | 2,501 | 2,930 |
| EBIT 1 | 234.4 | 116.6 | 21.31 | 121.2 | -1,971 | 455.5 | 504.3 | 749.9 |
| Operating Margin | 6.19% | 2.41% | 0.34% | 1.71% | -26.59% | 5.77% | 5.82% | 7.91% |
| Earnings before Tax (EBT) 1 | -125.3 | -2,582 | 665.2 | -630.5 | -2,486 | 75.14 | 149 | 455.5 |
| Net income 1 | -182.3 | -3,180 | 500.1 | -776 | -2,644 | -24.79 | -36.88 | 325.5 |
| Net margin | -4.81% | -65.85% | 8.08% | -10.98% | -35.67% | -0.31% | -0.43% | 3.43% |
| EPS 2 | -1.663 | -26.82 | 3.420 | -5.220 | -17.58 | -0.1626 | -0.1471 | -0.9800 |
| Free Cash Flow 1 | -541.5 | -1,759 | -1,304 | -555.4 | - | -1,831 | -1,084 | 800.5 |
| FCF margin | -14.29% | -36.43% | -21.07% | -7.86% | - | -23.2% | -12.5% | 8.44% |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | - | 27.32% |
| FCF Conversion (Net income) | - | - | - | - | - | - | - | 245.93% |
| Dividend per Share 2 | - | - | - | - | - | - | - | - |
| Announcement Date | 3/4/20 | 3/23/21 | 3/30/22 | 3/21/23 | 3/27/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,745 | 1,645 | 1,725 | 3,370 | 1,814 | 1,881 | 1,806 | 1,822 | 1,887 | 1,898 | 1,898 | 1,945 | 2,000 | 2,039 | - | - |
| EBITDA 1 | 463 | 506.2 | 486.9 | 993 | 455.3 | 424.3 | 556.2 | 535 | 507.9 | 440.2 | 539.8 | 545 | 564 | 588 | 617 | 627 |
| EBIT 1 | - | 96.06 | 36.06 | - | 6.411 | -17.37 | - | 93.27 | 32.19 | -2,212 | 46.42 | 79.62 | 49.82 | 11.6 | - | - |
| Operating Margin | - | 5.84% | 2.09% | - | 0.35% | -0.92% | - | 5.12% | 1.71% | -116.49% | 2.45% | 4.09% | 2.49% | 0.57% | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income | -27.28 | 90.71 | - | - | - | -64.24 | 82.29 | -232.9 | -50.46 | - | - | - | - | - | - | - |
| Net margin | -1.56% | 5.51% | - | - | - | -3.42% | 4.56% | -12.78% | -2.67% | - | - | - | - | - | - | - |
| EPS 2 | -0.1800 | 0.1800 | -2.580 | - | -2.880 | -0.4200 | 0.4200 | -1.560 | -0.3600 | -15.88 | -0.7200 | -0.0750 | -0.1050 | -0.1950 | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 3/30/22 | 5/24/22 | 8/30/22 | 8/30/22 | 11/22/22 | 3/21/23 | 5/24/23 | 8/23/23 | 11/15/23 | 3/27/24 | 5/29/24 | - | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 1,723 | 4,155 | 6,857 | 7,270 | 9,245 | 9,104 | 11,695 | 10,615 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.64 x | 3.138 x | 3.911 x | 3.882 x | 4.533 x | 4.193 x | 4.676 x | 3.623 x |
| Free Cash Flow 1 | -541 | -1,759 | -1,304 | -555 | - | -1,831 | -1,084 | 801 |
| ROE (net income / shareholders' equity) | -3.63% | -7.02% | 7.24% | -8.96% | -6.95% | -0.23% | 2.21% | - |
| ROA (Net income/ Total Assets) | - | -3.18% | 2.36% | -2.48% | -1.53% | - | 0.4% | 0.9% |
| Assets 1 | - | 99,984 | 21,235 | 31,296 | 172,800 | - | -9,151 | 36,167 |
| Book Value Per Share 2 | 43.70 | 58.60 | 48.90 | 44.50 | - | 41.30 | 41.40 | 45.30 |
| Cash Flow per Share 2 | - | 5.980 | 9.140 | 2.750 | - | 1.120 | 1.250 | 1.420 |
| Capex 1 | 1,249 | 2,473 | 2,692 | 2,996 | - | 3,774 | 3,520 | 2,546 |
| Capex / Sales | 32.96% | 51.22% | 43.49% | 42.4% | - | 47.83% | 40.59% | 26.85% |
| Announcement Date | 3/4/20 | 3/23/21 | 3/30/22 | 3/21/23 | 3/27/24 | - | - | - |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
8
Last Close Price
17.18
CNY
Average target price
25.7
CNY
Spread / Average Target
+49.62%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -18.64% | 624M | |
| -17.13% | 183B | |
| +1.55% | 167B | |
| +2.68% | 157B | |
| +5.13% | 101B | |
| +47.95% | 91.16B | |
| +12.64% | 83.12B | |
| -3.06% | 74.35B | |
| -2.54% | 45.99B | |
| -35.51% | 42.44B |
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- VNET Stock
- Financials VNET Group, Inc.
