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VNET GroupVNET +4.28%58 Capex-to-Operating-Cash-Flow is 10.33 as of Mar. 2026, which is 464% above its 10-year median of 1.83. GuruFocus rates VNET with a GF Score™ of 58/100 and a GF Value™ of $4.37 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 1,468 Software companies, VNET Group ranks worse than 95.84% on this metric.
Capex-to-Operating-Cash-Flow assesses how much of a company’s cash flow from operations is being devoted to capital expenditure. It’s also useful to distinguish whether the company is capital intensive or not.
VNET Group (NAS:VNET) Capex-to-Operating-Cash-Flow Explanation
Capex-to-Operating-Cash-Flow ratio assesses how much of a company’s Cash Flow from Operations is being devoted to Capital Expenditure. It is a good indicator in terms of how much the company is focused on growth. In general, a high Capex-to-Operating-Cash-Flow ratio indicates that the company is investing more in physical assets and is focused on growth and expansion. Conversely, lower ratio could indicate that a company has reached maturity and is no longer pursuing aggressive growth.
Moreover, the ratio is also useful to distinguish whether the company is capital intensive or not. If the ratio is large, then the company tends to be capital intensive. Lower ratio suggests that it’s a capital-light business. The ratio can be combined with ROIC % to identify whether the company is an asset-light business that has a high return on invested capital. This is one question investors commonly ask to see if a company qualifies as a good company.
VNET Group Capex-to-Operating-Cash-Flow Related Terms
VNET Group Capex-to-Operating-Cash-Flow Historical Data
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The historical data trend for VNET Group's Capex-to-Operating-Cash-Flow can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
VNET vs INOD, SHAZ, DXC: Capex-to-Operating-Cash-Flow Comparison
For the Information Technology Services subindustry, VNET Group's Capex-to-Operating-Cash-Flow, along with its competitors' market caps and Capex-to-Operating-Cash-Flow data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
VNET Group Capex-to-Operating-Cash-Flow vs Software Industry
For the Software industry and Technology sector, VNET Group's Capex-to-Operating-Cash-Flow distribution charts can be found below:
* The bar in red indicates where VNET Group's Capex-to-Operating-Cash-Flow falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Capex-to-Operating-Cash-Flow of 10.33 mean?
VNET Group (VNET) has a Capex-to-Operating-Cash-Flow of 10.33 as of Mar. 2026. Capex to Operating Cash Flow ratio assesses how much of a company’s cash flow from operations is being devoted to capital expenditure. View historical data on VNET Group and its competitors. This is 464% above median its historical median of 1.83. Over the past decade, VNET Group's Capex-to-Operating-Cash-Flow has ranged from 0.64 to 10.64. According to the industry distribution chart, VNET Group ranks #1407 out of 1468 companies in the Software industry, placing it in the top 95.8%.
Is VNET Group's Capex-to-Operating-Cash-Flow too high?
VNET Group's current Capex-to-Operating-Cash-Flow of 10.33 is 464% above median its 10-year median of 1.83. Over the past 10 years, this metric has ranged from a low of 0.64 to a high of 10.64. The Software industry median Capex-to-Operating-Cash-Flow is 0.25. VNET Group's value of 10.33 is 4032% above this industry median. Based on the distribution chart, VNET Group ranks #1407 out of 1468 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, VNET Group has a GF Score™ of 58/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does VNET Group's Capex-to-Operating-Cash-Flow compare to INOD and SHAZ?
According to the Software industry distribution chart, VNET Group ranks #1407 out of 1468 companies for Capex-to-Operating-Cash-Flow. This places VNET Group in the lower half of its industry. The industry median Capex-to-Operating-Cash-Flow is 0.25. VNET Group's value of 10.33 is 4032% above this benchmark. Historically, VNET Group's own Capex-to-Operating-Cash-Flow has ranged from 0.64 to 10.64 over the past decade. While the company's 10-year median is 1.83 vs. the industry median of 0.25, VNET Group has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Capex-to-Operating-Cash-Flow for a Software company?
The median Capex-to-Operating-Cash-Flow among Software companies is 0.25, based on 1,468 companies in the industry. Companies in the top quartile (top 25%) have a Capex-to-Operating-Cash-Flow significantly above this median, while those in the bottom quartile fall well below. However, Capex-to-Operating-Cash-Flow should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. VNET Group's current Capex-to-Operating-Cash-Flow of 10.33 is 4032% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Capex-to-Operating-Cash-Flow mean?
A high Capex-to-Operating-Cash-Flow can signal that a stock is expensive relative to its fundamentals. Capex to Operating Cash Flow ratio assesses how much of a company’s cash flow from operations is being devoted to capital expenditure. View historical data on VNET Group and its competitors. For the Software industry, the median Capex-to-Operating-Cash-Flow is 0.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. VNET Group's current Capex-to-Operating-Cash-Flow is 10.33, which is 464% above median its own 10-year median of 1.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is VNET Group stock overvalued right now?
Based on GuruFocus' analysis, VNET Group (VNET) is currently considered Significantly Overvalued. The stock's GF Value™ is $4.37, compared to a current price of $7.31 — trading 67.3% above its estimated fair value. The current Capex-to-Operating-Cash-Flow is 10.33, which is 464% above median its 10-year median of 1.83 and 4032% above the Software industry median of 0.25. VNET Group's overall GF Score™ is 58/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Capex-to-Operating-Cash-Flow calculated?
Capex-to-Operating-Cash-Flow is calculated from a company's financial statements. For VNET Group (VNET), the current Capex-to-Operating-Cash-Flow is 10.33 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is VNET Group (VNET) Overvalued in 2026?
Based on GuruFocus' analysis, VNET Group stock appears to be overvalued.
The current stock price of $7.31 is trading 67.3% above its estimated GF Value™ of $4.37.
GuruFocus considers VNET Group to be Significantly Overvalued.
Key valuation signals for VNET:
Capex-to-Operating-Cash-Flow: 10.33 (464% above median its 10-year median of 1.83)
GF Value™: $4.37 vs. price of $7.31 (67.3% above fair value)
Industry Position: 4032% above the Software median (#1407 of 1468)
No single metric tells the full story. See the VNET stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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 December 2025, it had 49,863 retail cabinets, with the majority in Beijing, Shanghai, and the Greater Bay area. It also had 889 MW of wholesale capacity in service, with a further 452 MW under construction and a further 840 MW held for future development.
58GF Score
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Capex-to-Operating-Cash-Flow is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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