Net margin is calculated as Net Income divided by its Revenue. VNET Group's Net Income for the
three
months ended in Mar. 2026 was €-280 Mil. VNET Group's Revenue for the
three
months ended in Mar. 2026 was €338 Mil. Therefore, VNET Group's net margin for the quarter that ended in Mar. 2026 was -82.84%.
The historical rank and industry rank for VNET Group's Net Margin % or its related term are showing as below:
HAM:217A'
s Net Margin % Range Over the Past 10 Years
Min: -56.11 Med: -8.51 Max: 8.08
Current: -22.1
HAM:217A's Net Margin % is ranked worse than 77.93% of 2827
companies
in the Software industry
Industry Median: 2.54
vs HAM:217A: -22.10
VNET Group (HAM:217A) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
VNET Group Net Margin % Related Terms
VNET Group Net Margin % Historical Data
* Premium members only.
The historical data trend for VNET Group's Net Margin % 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.
HAM:217A vs PENG, KD, CHRN: Net Margin % Comparison
For the Information Technology Services subindustry, VNET Group's Net Margin %, along with its competitors' market caps and Net Margin % 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 Net Margin % vs Software Industry
For the Software industry and Technology sector, VNET Group's Net Margin % distribution charts can be found below:
* The bar in red indicates where VNET Group's Net Margin % 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.
VNET Group (HAM:217A) has a Net Margin % of -82.84% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on VNET Group and its competitors. According to the industry distribution chart, VNET Group ranks #2203 out of 2827 companies in the Software industry, placing it in the top 77.9%.
Is VNET Group's Net Margin % too high?
VNET Group's current Net Margin % is -82.84%. Based on the distribution chart, VNET Group ranks #2203 out of 2827 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, VNET Group has a GF Score™ of 54/100, reflecting its overall financial health beyond just this single metric.
How does VNET Group's Net Margin % compare to PENG and KD?
According to the Software industry distribution chart, VNET Group ranks #2203 out of 2827 companies for Net Margin %. This places VNET Group in the lower half of its industry. The industry median Net Margin % is 2.54. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Margin % for a Software company?
The median Net Margin % among Software companies is 2.54, based on 2,827 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on VNET Group and its competitors. For the Software industry, the median Net Margin % is 2.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. VNET Group's current Net Margin % is -82.84%. 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?
VNET Group (HAM:217A) has a current Net Margin % of -82.84%. The stock's GF Value™ is €3.60, compared to a current price of €6.46 — trading 79.4% above its estimated fair value. The current Net Margin % is -82.84%. VNET Group's overall GF Score™ is 54/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For VNET Group (HAM:217A), the current Net Margin % is -82.84% 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 (HAM:217A) Overvalued in 2026?
Based on GuruFocus' analysis, VNET Group stock appears to be overvalued.
The current stock price of €6.46 is trading 79.4% above its estimated GF Value™ of €3.60.
Key valuation signals for HAM:217A:
Net Margin %: -82.84%
GF Value™: €3.60 vs. price of €6.46 (79.4% above fair value)
No single metric tells the full story. See the HAM:217A 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.
54GF Score
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