Company Valuation: VNET Group, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 8,356 5,789 5,238 9,236 15,919 12,383 - -
Change - -30.73% -9.52% 76.35% 72.35% -22.21% - -
Enterprise Value (EV) 1 15,214 13,058 14,483 19,418 29,966 35,480 42,198 47,856
Change - -14.17% 10.91% 34.08% 54.32% 18.4% 18.93% 13.41%
P/E 16.8x -7.49x -1.16x 288x -61.6x -4.71x 54.6x 26.7x
PBR 1.17x 0.88x 0.87x 1.44x 2.56x 1.68x 1.78x 1.76x
PEG - 0x -0x -3x 0x -0x -1x 0x
Capitalization / Revenue 1.35x 0.82x 0.71x 1.12x 1.6x 1.06x 0.87x 0.72x
EV / Revenue 2.46x 1.85x 1.95x 2.35x 3.01x 3.03x 2.96x 2.79x
EV / EBITDA 8.68x 6.97x 7.1x 7.99x 10.1x 9.52x 8.88x 8.06x
EV / EBIT 714x 108x -7.35x 29x 38.4x 33.7x 27.2x 23.1x
EV / FCF -11.7x -23.5x -16x -21.1x -5.22x -4.57x -5.7x -8.15x
FCF Yield -8.57% -4.25% -6.24% -4.74% -19.1% -21.9% -17.5% -12.3%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 3.42 -5.22 -17.58 0.12 -0.96 -9.238 0.7967 1.627
Distribution rate - - - - - - - -
Net sales 1 6,190 7,065 7,413 8,259 9,949 11,694 14,255 17,170
EBITDA 1 1,754 1,873 2,039 2,430 2,978 3,725 4,750 5,934
EBIT 1 21.31 121.2 -1,971 669.4 780.3 1,053 1,553 2,068
Net income 1 500.1 -776 -2,644 183.2 -251.8 -1,170 201.4 387.5
Net Debt 1 6,857 7,270 9,245 10,182 14,047 23,097 29,814 35,473
Reference price 2 57.36 39.11 20.35 34.60 59.17 43.50 43.50 43.50
Nbr of stocks (in thousands) 145,672 148,024 257,364 266,966 269,026 284,692 - -
Announcement Date 30/03/22 21/03/23 27/03/24 12/03/25 16/03/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-4.71x3.03x9.52x-.--% 1.84B
22.68x3.71x12.95x2.93% 218B
-113.28x18x103.7x-.--% 112B
13.83x1.53x8.02x3.46% 114B
14.79x2.7x10.2x5.56% 86.31B
20.76x5.43x13.34x2.74% 63.2B
14.81x2.15x9.14x5.26% 47.79B
20.89x1.7x10.49x1.4% 40.35B
20.62x1.57x9.98x0.91% 39.24B
18.01x2.34x10.86x4.8% 37.36B
Average 2.84x 4.22x 19.82x 2.71% 75.98B
Weighted average by Cap. -0.72x 5.13x 24.66x 2.91%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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