VNET Group runs carrier-neutral data centres in China, selling colocation, interconnection and managed cloud services to hyperscalers and enterprise customers, with a footprint concentrated in Beijing, Shanghai and Guangzhou. The structural case rests on scarcity: the company's facilities sit inside tightly permitted urban hubs where new supply is slow to arrive, and its roughly 14% revenue growth is coming from a business that also reports a positive 8.3% operating margin. Against that, gross margin of 20.5% and a negative 4.7% ROE show how capital-heavy the model is, so the earnings line still carries a lot of depreciation and interest. The stock trades at a forward P/E of 11.6, which is cheap only if the company converts that top-line growth into cash flow. The score of 40/100 and the absence of any index membership say the market has not yet rewarded that conversion, so the question for a deeper look is whether margins can widen as the newer capacity fills.
Plain-English pros, cons, and what to watch. Pro feature.
See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
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| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 18 Oct 2026, 00:00 CEST | ACCE price target | $4.10 | $5.50 | $3.92 |
| 12 Oct 2026, 00:00 CEST | ACCE price target | $5.50 | first publication | $5.53 |
Answered from VNET Group Inc. American Depositary Shares fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| VNET VNET Group Inc. American Depositary Shares | $3.72 | - | - | - | -4.7% | 26 | 40 |
| 8056.T BIPROGY Inc. | ¥5168.00 | - | - | 16.1x | 17.4% | 60 | 47 |
| 4812.T Dentsu Soken Inc. | ¥2871.00 | - | - | 31.9x | 17.5% | 68 | 71 |
| LTTS.NS L&T Technology Services Limited | ₹3954.80 | - | - | 31.0x | - | 81 | 57 |
| 4733.T OBIC Business Consultants Co., Ltd. | ¥9414.00 | - | - | 37.4x | 11.5% | 81 | 65 |
| SONDA.SN Sonda S.A | CLP 268.06 | - | - | 11.2x | 3.8% | 35 | 47 |
| 2327.T NS Solutions Corporation | ¥4252.00 | - | - | 24.9x | 11.7% | 63 | 63 |
Where VNET ranks against its sector peers on each metric.