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 14,902 - -
Change - -30.73% -9.52% 76.35% 72.35% -6.39% - -
Enterprise Value (EV) 1 15,214 13,058 14,483 19,418 29,966 37,611 44,298 49,659
Change - -14.17% 10.91% 34.08% 54.32% 25.51% 17.78% 12.1%
P/E 16.8x -7.49x -1.16x 288x -61.6x -197x 56.3x 33.6x
PBR 1.17x 0.88x 0.87x 1.44x 2.56x 2.15x 2.07x 1.84x
PEG - 0x -0x -3x 0x 2.7x -0x 0.5x
Capitalization / Revenue 1.35x 0.82x 0.71x 1.12x 1.6x 1.27x 1.05x 0.88x
EV / Revenue 2.46x 1.85x 1.95x 2.35x 3.01x 3.21x 3.11x 2.93x
EV / EBITDA 8.68x 6.97x 7.1x 7.99x 10.1x 10.1x 9.44x 8.52x
EV / EBIT 714x 108x -7.35x 29x 38.4x 35.4x 29.7x 24.2x
EV / FCF -11.7x -23.5x -16x -21.1x -5.22x -4.92x -6.62x -10.9x
FCF Yield -8.57% -4.25% -6.24% -4.74% -19.1% -20.3% -15.1% -9.18%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 3.42 -5.22 -17.58 0.12 -0.96 -0.2663 0.9297 1.56
Distribution rate - - - - - - - -
Net sales 1 6,190 7,065 7,413 8,259 9,949 11,731 14,242 16,973
EBITDA 1 1,754 1,873 2,039 2,430 2,978 3,719 4,693 5,826
EBIT 1 21.31 121.2 -1,971 669.4 780.3 1,061 1,494 2,055
Net income 1 500.1 -776 -2,644 183.2 -251.8 -306.1 265.8 525
Net Debt 1 6,857 7,270 9,245 10,182 14,047 22,709 29,395 34,756
Reference price 2 57.36 39.11 20.35 34.60 59.17 52.35 52.35 52.35
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.($)
-196.57x3.21x10.11x-.--% 2.2B
28.2x4.52x15.79x2.33% 273B
-94.09x14.88x86.13x-.--% 93.11B
10.29x1.13x5.93x4.69% 84.77B
14.14x2.58x9.73x5.81% 82.46B
19.48x5.11x12.62x2.92% 58.41B
14.32x2.09x8.77x5.44% 46.62B
18.9x1.52x9.57x1.57% 35.35B
20.03x1.48x9.4x0.99% 35.45B
16.64x2.14x9.95x5.2% 34.52B
Average -14.87x 3.87x 17.80x 2.89% 74.57B
Weighted average by Cap. 5.76x 4.71x 21.21x 2.96%

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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