VNET Group, Inc.

VNETNASDAQTechnology● Active

$9.03

+$0.19(+2.20%)

Market Cap$2.5B

P/E Ratio—

52W High$14.48

52W Low$5.31

Avg Volume7.7M

Open$8.85

Beta0.25

Overview

VNET Group, Inc. (VNET) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

VNET · free cash flow · updated Jun 8, 2026

Core FCF metrics

VNET · FCF · TTM · margin & CAGR

Free cash flow was −$5.95B for FY2025 (fiscal year ending 2025-12-31), down 90.5% year-over-year The FCF margin was -61.5%.

FY2025 Free Cash Flow−$5.95B▼ -90.5% YoY

Trailing 12M (TTM)−$5.94Btrailing 4 quarters sum

FCF Margin-61.5%−$5.95B ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

VNET · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$1.92B(7.87B)−$5.95B▼ 90.5%-61.5%

FY2024$2.01B(5.13B)−$3.12B▼ 213.2%-37.8%

FY2023$2.06B(3.06B)−$997.1M▼ 121.3%-13.4%

FY2022$2.60B(3.05B)−$450.6M▲ +66.5%-6.3%

FY2021$1.39B(2.73B)−$1.35B▲ +24.8%-21.8%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

VNET · P/FCF · FCF yield · FCF per share

VNET Group, Inc. (VNET) reported negative free cash flow of −$5.95B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)

N/A

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

N/A

TTM FCF ÷ Shares Outstanding

Price / FCF

N/A

Share Price ÷ FCF per Share

EV / FCF (TTM)

N/A

Enterprise Value basis

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

VNET · cash flow statement · operating / investing / financing

For FY2025, VNET Group, Inc. generated $1.92B in operating cash flow and spent 7.87B in capital expenditures, yielding −$5.95B in free cash flow.

Operating Activities

+$1.92B

Cash from core business operations

2025-12-31

Investing Activities

−$8.01B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$10.22B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($1.92B) − |CapEx| (7.87B) = FCF (−$5.95B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Technology)

VNET vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

VNET Group, Inc.YOU

VNET

−$5.95B-90.5%-61.5%

Loss

Taiwan Semiconductor Manufacturing Company Limited

Microsoft Corporation

Technology · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

VNET Group, Inc. (VNET) reported free cash flow of −$5.95B for FY2025 (fiscal year ending 2025-12-31), down 90.5% year-over-year. The FCF margin was -61.5%.

Based on available data, VNET Group, Inc. has maintained positive free cash flow for at least 1 fiscal year(s). FCF peaked at $251.9M in FY2018.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

VNET free cash flow · 8 questions

VNET Group, Inc. free cash flow was −$5.95B for FY2025, down 90.5% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$5.94B.

VNET free cash flowVNET FCFVNET FCF 2025VNET free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · VNET Group, Inc. · VNET Group, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026