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VNET GroupVNET +2.07%58 Price-to-Tangible-Book is 10.21 as of Aug. 07, 2026, which is 470% above its 10-year median of 1.79. 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 2,188 Software companies, VNET Group ranks worse than 82.36% on this metric.
As of today (2026-08-07), VNET Group's share price is $7.155. VNET Group's Tangible Book per Share of Mar. 2026 for the quarter that ended in Mar. 2026 was $0.70. Hence, VNET Group's Price to Tangible Book Ratio of today is 10.21.
The historical rank and industry rank for VNET Group's Price-to-Tangible-Book or its related term are showing as below:
VNET'
s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 0.74 Med: 1.79 Max: 12.54
Current: 10.22
During the past 13 years, VNET Group's highest Price to Tangible Book Ratio was 12.54. The lowest was 0.74. And the median was 1.79.
VNET's Price-to-Tangible-Book is ranked worse than 82.36% of 2188
companies
in the Software industry
Industry Median: 3.32
vs VNET: 10.22
Some businesses have very light assets, such as software companies or insurance agencies. The Price-to-Book Ratio does not work well for these companies. Some companies even have negative equity, so the Price-to-Book Ratio cannot be applied to them.
VNET Group Price-to-Tangible-Book Related Terms
VNET Group Price-to-Tangible-Book Historical Data
* Premium members only.
The historical data trend for VNET Group's Price-to-Tangible-Book 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: Price-to-Tangible-Book Comparison
For the Information Technology Services subindustry, VNET Group's Price-to-Tangible-Book, along with its competitors' market caps and Price-to-Tangible-Book 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 Price-to-Tangible-Book vs Software Industry
For the Software industry and Technology sector, VNET Group's Price-to-Tangible-Book distribution charts can be found below:
* The bar in red indicates where VNET Group's Price-to-Tangible-Book 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called PB Ratio. The difference between Price-to-Tangible-Book Ratio and PB Ratio is that book value other than intangibles are used in the calculation.
VNET Group (VNET) has a Price-to-Tangible-Book of 10.21 as of Aug. 07, 2026. Price-to-tangible-book ratio is the ratio of share price to a company's tangible book value per share. View historical data on VNET Group and its competitors. This is 470% above median its historical median of 1.79. Over the past decade, VNET Group's Price-to-Tangible-Book has ranged from 0.74 to 12.54. According to the industry distribution chart, VNET Group ranks #1802 out of 2188 companies in the Software industry, placing it in the top 82.4%.
Is VNET Group's Price-to-Tangible-Book too high?
VNET Group's current Price-to-Tangible-Book of 10.21 is 470% above median its 10-year median of 1.79. Over the past 10 years, this metric has ranged from a low of 0.74 to a high of 12.54. The Software industry median Price-to-Tangible-Book is 3.32. VNET Group's value of 10.21 is 207.5% above this industry median. Based on the distribution chart, VNET Group ranks #1802 out of 2188 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 Price-to-Tangible-Book compare to INOD and SHAZ?
According to the Software industry distribution chart, VNET Group ranks #1802 out of 2188 companies for Price-to-Tangible-Book. This places VNET Group in the lower half of its industry. The industry median Price-to-Tangible-Book is 3.32. VNET Group's value of 10.21 is 207.5% above this benchmark. Historically, VNET Group's own Price-to-Tangible-Book has ranged from 0.74 to 12.54 over the past decade. While the company's 10-year median is 1.79 vs. the industry median of 3.32, 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 Price-to-Tangible-Book for a Software company?
The median Price-to-Tangible-Book among Software companies is 3.32, based on 2,188 companies in the industry. Companies in the top quartile (top 25%) have a Price-to-Tangible-Book significantly above this median, while those in the bottom quartile fall well below. However, Price-to-Tangible-Book should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. VNET Group's current Price-to-Tangible-Book of 10.21 is 207.5% 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 Price-to-Tangible-Book mean?
A high Price-to-Tangible-Book can signal that a stock is expensive relative to its fundamentals. Price-to-tangible-book ratio is the ratio of share price to a company's tangible book value per share. View historical data on VNET Group and its competitors. For the Software industry, the median Price-to-Tangible-Book is 3.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. VNET Group's current Price-to-Tangible-Book is 10.21, which is 470% above median its own 10-year median of 1.79. 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 $7.16 — trading 63.7% above its estimated fair value. The current Price-to-Tangible-Book is 10.21, which is 470% above median its 10-year median of 1.79 and 207.5% above the Software industry median of 3.32. 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 Price-to-Tangible-Book calculated?
Price-to-Tangible-Book is calculated from a company's financial statements. For VNET Group (VNET), the current Price-to-Tangible-Book is 10.21 as of Aug. 07, 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 $7.16 is trading 63.7% above its estimated GF Value™ of $4.37.
GuruFocus considers VNET Group to be Significantly Overvalued.
Key valuation signals for VNET:
Price-to-Tangible-Book: 10.21 (470% above median its 10-year median of 1.79)
GF Value™: $4.37 vs. price of $7.16 (63.7% above fair value)
Industry Position: 207.5% above the Software median (#1802 of 2188)
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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