Hesai Group(HSAI)Earnings, Financials & Key Ratios
HSAI•NASDAQ
$21.86
$2.21B mkt cap·Price updated May 7, 2026
AboutHesai Group, through with its subsidiaries, engages in the development, manufacture, and sale of three-dimensional light detection and ranging solutions (LiDAR). Its LiDAR products are used in passenger and commercial vehicles with advanced driver assistance systems; autonomous passenger and freight mobility services; and other applications, such as delivery robots, street sweeping robots, and logistics robots in restricted areas. Hesai Group was founded in 2014 and is based in Shanghai, China.Show more
- Revenue$2.08B+10.7%
- EBITDA-$119M+75.6%
- Net Income-$102M+78.5%
- EPS (Diluted)-0.79+79.3%
- Gross Margin42.59%+20.9%
- EBITDA Margin-5.71%+77.9%
- Operating Margin-9.86%+67.6%
- Net Margin-4.93%+80.6%
- ROE-2.63%+81.5%
- ROIC-6.54%+62.9%
- Debt/Equity0.19+29.9%
- Interest Coverage-15.97+91.4%
HSAI Key Insights
Hesai Group (HSAI) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Strong 5Y sales CAGR of 42.9%
✗Weaknesses
- ✗Negative free cash flow
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
HSAI Price & Volume
Hesai Group (HSAI) stock price & volume — 10-year historical chart
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HSAI Growth Metrics
Hesai Group (HSAI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years42.94%
3 Years42.31%
TTM42.95%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM209.76%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM200%
Return on Capital
10 Years-27.99%
5 Years-12.35%
3 Years-11.1%
Last Year-4.72%
HSAI Recent Earnings
Hesai Group (HSAI) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 6/12 qtrs (55%)
Q2 2026Latest
Mar 24, 2026EPS
$0.13
Est $0.15
-15.3%
Revenue
$143M
Est $153M
-6.6%
Q4 2025
Nov 11, 2025EPS
$0.25
Est $0.22
+15.6%
Revenue
$112M
Est $152M
-26.6%
Q3 2025
Aug 14, 2025EPS
$0.04
Est $0.06
-30.1%
Revenue
$99M
Est $96M
+3.1%
Q2 2025
May 26, 2025EPS
$0.02
Est $0.02
-10.7%
Revenue
$72M
Est $95M
-23.7%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 24, 2026 | $0.13vs $0.15-15.3% | $143Mvs $153M-6.6% |
| Q4 2025 | Nov 11, 2025 | $0.25vs $0.22+15.6% | $112Mvs $152M-26.6% |
| Q3 2025 | Aug 14, 2025 | $0.04vs $0.06-30.1% | $99Mvs $96M+3.1% |
| Q2 2025 | May 26, 2025 | $0.02vs $0.02-10.7% | $72Mvs $95M-23.7% |
Based on last 12 quarters of dataView full earnings history →
HSAI Peer Comparison
Hesai Group (HSAI) competitors in Safety, ADAS and Sensors — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 LAZR | 1.95M | 0.06 | -0.01 | 8.05% | -308.45% | |||
 OUST | 1.56B | 24.51 | -22.91 | 52.46% | -30.12% | -22.2% | 0.07 | |
 INVZ | 117.41M | 0.69 | -2.04 | 127% | -123.06% | -87.23% | 0.83 | |
 AEVA | 859.87M | 13.66 | -5.36 | 99.44% | -6.94% | -258.38% | 7.75 | |
 LIDR | 85.15M | 1.89 | -1.29 | 15.35% | -145.74% | -72.75% | 0.00 | |
 MVIS | 188.81M | 0.62 | -1.76 | -74.28% | -78.63% | -137.37% | 0.66 | |
 MBLY | 7.22B | 8.87 | -18.48 | 14.51% | -203.97% | -37.31% | ||
 AEYE | 100.43M | 8.09 | -32.36 | 14.52% | -7.63% | -47.8% | 0.15 |
Compare HSAI vs Peers
Hesai Group (HSAI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
HSAI Income Statement
Hesai Group (HSAI) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Sales/Revenue | 348.08M | 415.51M | 720.77M | 1.2B | 1.88B | 2.08B | 2.74B |
| Revenue Growth % | - | 19.37% | 73.46% | 66.86% | 56.07% | 10.66% | 42.95% |
| Cost of Goods Sold | 103.38M | 176.6M | 338.97M | 730.68M | 1.22B | 1.19B | 1.61B |
| COGS % of Revenue | 29.7% | 42.5% | 47.03% | 60.76% | 64.76% | 57.41% | - |
| Gross Profit | 244.71M▲ 0% | 238.91M▼ 2.4% | 381.8M▲ 59.8% | 471.99M▲ 23.6% | 661.38M▲ 40.1% | 884.59M▲ 33.7% | 1.13B▲ 0% |
| Gross Margin % | 70.3% | 57.5% | 52.97% | 39.24% | 35.24% | 42.59% | 41.34% |
| Gross Profit Growth % | - | -2.37% | 59.8% | 23.62% | 40.13% | 33.75% | - |
| Operating Expenses | 392.76M | 340.73M | 647.08M | 850.2M | 1.23B | 1.09B | 1.02B |
| OpEx % of Revenue | 112.83% | 82% | 89.78% | 70.69% | 65.69% | 52.45% | - |
| Selling, General & Admin | 93.85M | 126.46M | 305.98M | 305.84M | 468.94M | 509.94M | 481.65M |
| SG&A % of Revenue | 26.96% | 30.43% | 42.45% | 25.43% | 24.98% | 24.55% | - |
| Research & Development | 149.82M | 229.65M | 368.44M | 555.18M | 790.55M | 855.64M | 823.77M |
| R&D % of Revenue | 43.04% | 55.27% | 51.12% | 46.16% | 42.12% | 41.19% | - |
| Other Operating Expenses | 149.09M | -15.38M | -27.33M | -10.82M | -26.52M | -276.09M | -3M |
| Operating Income | -148.05M▲ 0% | -101.81M▲ 31.2% | -265.29M▼ 160.6% | -378.22M▼ 42.6% | -571.59M▼ 51.1% | -204.91M▲ 64.2% | 114.87M▲ 0% |
| Operating Margin % | -42.53% | -24.5% | -36.81% | -31.45% | -30.45% | -9.86% | 4.19% |
| Operating Income Growth % | - | 31.23% | -160.56% | -42.57% | -51.13% | 64.15% | - |
| EBITDA | -138.33M | -82.6M | -237.05M | -324.58M | -485.32M | -118.64M | 264.18M |
| EBITDA Margin % | -39.74% | -19.88% | -32.89% | -26.99% | -25.86% | -5.71% | 9.63% |
| EBITDA Growth % | - | 40.29% | -187% | -36.92% | -49.52% | 75.55% | 167.15% |
| D&A (Non-Cash Add-back) | 9.72M | 19.21M | 28.23M | 53.63M | 86.27M | 86.27M | 104.64M |
| EBIT | 12.05M | -101.81M | -245.86M | -300.79M | -472.2M | -204.91M | 187.42M |
| Net Interest Income | 19.11M | 20.93M | 32.58M | 58.73M | 96.74M | 91.57M | 52.24M |
| Interest Income | 19.11M | 20.93M | 32.58M | 58.73M | 99.81M | 104.4M | 67.89M |
| Interest Expense | 0 | 0 | 0 | 0 | 3.07M | 12.83M | 15.65M |
| Other Income/Expense | 28.76M | -5.6M | 19.34M | 77.39M | 96.28M | 103.66M | 341.42M |
| Pretax Income | -119.29M▲ 0% | -107.42M▲ 10.0% | -245.94M▼ 129.0% | -300.83M▼ 22.3% | -475.31M▼ 58.0% | -101.25M▲ 78.7% | 456.3M▲ 0% |
| Pretax Margin % | -34.27% | -25.85% | -34.12% | -25.01% | -25.32% | -4.87% | 16.64% |
| Income Tax | 930K | -199K | -1.11M | -66K | 658K | 1.13M | 27.97M |
| Effective Tax Rate % | -0.78% | 0.19% | 0.45% | 0.02% | -0.14% | -1.12% | 6.13% |
| Net Income | -120.22M▲ 0% | -107.22M▲ 10.8% | -244.83M▼ 128.3% | -300.76M▼ 22.8% | -475.97M▼ 58.3% | -102.38M▲ 78.5% | 428.33M▲ 0% |
| Net Margin % | -34.54% | -25.8% | -33.97% | -25.01% | -25.36% | -4.93% | 15.62% |
| Net Income Growth % | - | 10.82% | -128.35% | -22.85% | -58.25% | 78.49% | 209.76% |
| Net Income (Continuing) | -120.22M | -107.22M | -244.83M | -300.76M | -475.97M | -102.38M | 428.33M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 5.54B | 5.99B | 0 | 0 | 0 |
| EPS (Diluted) | -1.36▲ 0% | -1.19▲ 12.5% | -23.39▼ 1865.5% | -5.95▲ 74.6% | -3.81▲ 36.0% | -0.79▲ 79.3% | 2.98▲ 0% |
| EPS Growth % | - | 12.5% | -1865.55% | 74.56% | 35.97% | 79.27% | 200% |
| EPS (Basic) | -0.96 | -1.19 | -23.39 | -5.95 | -3.81 | -0.79 | - |
| Diluted Shares Outstanding | 88.53M | 95.18M | 125.53M | 125.53M | 124.78M | 129.19M | 143.51M |
| Basic Shares Outstanding | 88.53M | 95.18M | 125.53M | 125.53M | 124.78M | 129.19M | 136.39M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
HSAI Balance Sheet
Hesai Group (HSAI) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Total Current Assets | 168M | 1.21B | 3.49B | 3.14B | 4.4B | 4.68B | 9.53B |
| Cash & Short-Term Investments | 146.96M | 902.69M | 2.79B | 1.86B | 3.16B | 3.2B | 7.36B |
| Cash Only | 16.18M | 256.69M | 449.35M | 913.28M | 1.55B | 2.84B | 2.56B |
| Short-Term Investments | 130.78M | 646M | 2.34B | 945.87M | 1.61B | 362.19M | 4.8B |
| Accounts Receivable | 7.63M | 94.66M | 245.26M | 509.41M | 544.51M | 797.28M | 1.23B |
| Days Sales Outstanding | 8 | 83.15 | 124.2 | 154.6 | 105.88 | 140.1 | 137.18 |
| Inventory | 11.43M | 149.93M | 376.24M | 646.85M | 495.88M | 482.14M | 642.76M |
| Days Inventory Outstanding | 40.37 | 309.87 | 405.13 | 323.12 | 148.89 | 147.56 | 125.58 |
| Other Current Assets | 1.1M | 28.34M | 8.03M | 15.18M | 35.63M | 22.08M | 284.91M |
| Total Non-Current Assets | 10.35M | 102.89M | 459.01M | 704.28M | 1.26B | 1.31B | 1.39B |
| Property, Plant & Equipment | 7.43M | 73.65M | 376.83M | 595.38M | 1.1B | 1.06B | 1.15B |
| Fixed Asset Turnover | 46.84x | 5.64x | 1.91x | 2.02x | 1.70x | 1.96x | 2.51x |
| Goodwill | 0 | 3.64M | 3.5M | 3.82M | 0 | 0 | 0 |
| Intangible Assets | 1.86M | 14.26M | 62.02M | 62.21M | 119.47M | 116.43M | 132.46M |
| Long-Term Investments | 285.69K | 1.99M | 1.9M | 31.86M | 31.81M | 31.8M | 225.36M |
| Other Non-Current Assets | 774.94K | 9.35M | 14.75M | 11.02M | 3.96M | 100.25M | 309.39M |
| Total Assets | 178.35M▲ 0% | 1.31B▲ 635.7% | 3.95B▲ 201.2% | 3.84B▼ 2.9% | 5.66B▲ 47.5% | 5.99B▲ 5.8% | 10.91B▲ 0% |
| Asset Turnover | 1.95x | 0.32x | 0.18x | 0.31x | 0.33x | 0.35x | 0.38x |
| Asset Growth % | - | 635.68% | 201.22% | -2.86% | 47.49% | 5.78% | 117.1% |
| Total Current Liabilities | 38.93M | 166.74M | 892.16M | 955.54M | 1.34B | 1.63B | 1.66B |
| Accounts Payable | 2.67M | 55.44M | 77.27M | 206.68M | 276.69M | 345.01M | 607.35M |
| Days Payables Outstanding | 9.43 | 114.58 | 83.2 | 103.24 | 83.08 | 105.59 | 99.89 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 118.94M | 355.35M | 448.23M |
| Deferred Revenue (Current) | 1.7M | 0 | 122.6M | 40.38M | 79.92M | 32.99M | 91.64M |
| Other Current Liabilities | 29.08M | 46.45M | 5.58M | 4.96M | 730.97M | 352.66M | 134.54M |
| Current Ratio | 4.32x | 7.25x | 3.92x | 3.28x | 3.29x | 2.87x | 2.87x |
| Quick Ratio | 4.02x | 6.35x | 3.49x | 2.60x | 2.92x | 2.58x | 2.58x |
| Cash Conversion Cycle | 38.94 | 278.44 | 446.13 | 374.48 | 171.7 | 182.07 | 162.88 |
| Total Non-Current Liabilities | 6.03M | 8.19M | 10.39M | 42.13M | 465.12M | 428.94M | 417.17M |
| Long-Term Debt | 0 | 0 | 0 | 18.47M | 285.9M | 269.44M | 315.39M |
| Capital Lease Obligations | 0 | 0 | 0 | 10.14M | 119.41M | 98.37M | 317.21M |
| Deferred Tax Liabilities | 99.49K | 0 | 466K | 439K | 0 | 0 | 0 |
| Other Non-Current Liabilities | 5.93M | 8.19M | 9.92M | 13.07M | 59.81M | 61.13M | 189.26M |
| Total Liabilities | 44.96M | 174.93M | 902.55M | 997.66M | 1.8B | 2.06B | 2.07B |
| Total Debt | 0 | 0 | 0 | 63.59M | 559.24M | 739.26M | 835.35M |
| Net Debt | -16.18M | -256.69M | -449.35M | -849.69M | -995.34M | -2.1B | -1.73B |
| Debt / Equity | - | - | - | 0.02x | 0.14x | 0.19x | 0.19x |
| Debt / EBITDA | - | - | - | - | - | - | 3.16x |
| Net Debt / EBITDA | - | - | - | - | - | - | -6.54x |
| Interest Coverage | - | - | - | - | -186.25x | -15.97x | 11.97x |
| Total Equity | 133.4M▲ 0% | 1.14B▲ 752.5% | 3.05B▲ 168.2% | 2.84B▼ 6.8% | 3.86B▲ 35.9% | 3.93B▲ 1.8% | 8.84B▲ 0% |
| Equity Growth % | - | 752.48% | 168.19% | -6.82% | 35.91% | 1.8% | 167.27% |
| Book Value per Share | 1.51 | 11.95 | 24.29 | 22.64 | 30.95 | 30.43 | 61.60 |
| Total Shareholders' Equity | 133.4M | 1.14B | -2.49B | -3.15B | 3.86B | 3.93B | 8.84B |
| Common Stock | 0 | 0 | 39K | 39K | 86K | 89K | 107K |
| Retained Earnings | -24.51M | -56.05M | -2.19B | -2.83B | -3.31B | -3.41B | -3.13B |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 191.22K | -618K | 8.46M | -3.61M | -254.28M | 56.98M | 70.42M |
| Minority Interest | 0 | 0 | 5.54B | 5.99B | 0 | 0 | 0 |
HSAI Cash Flow Statement
Hesai Group (HSAI) cash flow — operating, investing & free cash flow history
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Cash from Operations | 46.17M | -352.01M | -228.39M | -696.01M | 57.26M | 63.5M | 63.5M |
| Operating CF Margin % | 13.26% | -84.72% | -31.69% | -57.87% | 3.05% | 3.06% | - |
| Operating CF Growth % | - | -862.5% | 35.12% | -204.75% | 108.23% | 10.9% | 0% |
| Net Income | -120.22M | -107.22M | -244.83M | -300.76M | -475.97M | -102.38M | 428.33M |
| Depreciation & Amortization | 9.72M | 19.21M | 28.23M | 53.63M | 86.27M | 131.81M | 0 |
| Stock-Based Compensation | 0 | 0 | 54.28M | 105.22M | 234.62M | 116.06M | 86.93M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -6.11M | 32.77M | 22.64M | 67.31M | 65.46M | 54.33M | -390.09M |
| Working Capital Changes | 162.77M | -296.78M | -88.72M | -621.41M | 146.88M | -136.32M | 0 |
| Change in Receivables | 6.96M | -82.44M | -115.64M | -256.62M | -97.84M | -265.68M | 0 |
| Change in Inventory | -32.39M | -83.61M | -237.75M | -305.55M | 145.98M | 26.7M | 0 |
| Change in Payables | -8.48M | 36.26M | 21.83M | 128.86M | 61.53M | 75.01M | 0 |
| Cash from Investing | -779.5M | 179.03M | -1.98B | 1.12B | -1.06B | 955.88M | 0 |
| Capital Expenditures | -39.58M | -66M | -220.1M | -231.21M | -406.75M | -259.54M | 0 |
| CapEx % of Revenue | 11.37% | 15.88% | 30.54% | 19.22% | 21.67% | 12.5% | - |
| Acquisitions | -14.93M | 0 | 0 | 0 | -40.05M | 0 | 0 |
| Investments | - | - | - | - | - | - | - |
| Other Investing | 0 | -10.56M | -61.49M | -11.14M | 7.97M | -11.82M | 0 |
| Cash from Financing | 739.74M | 323.44M | 2.4B | 15.18M | 1.59B | 250.68M | 0 |
| Debt Issued (Net) | 0 | 0 | 1.95B | 18.47M | 376.59M | 216.54M | 0 |
| Equity Issued (Net) | 739.74M | 317.15M | 453.98M | 0 | 1.23B | 0 | 0 |
| Dividends Paid | 0 | 0 | -507.62M | 0 | -17.51M | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 6.29M | 507.03M | -3.3M | 5.8M | 34.14M | 0 |
| Net Change in Cash | 8.4M▲ 0% | 143.95M▲ 1613.5% | 192.66M▲ 33.8% | 463.93M▲ 140.8% | 644.85M▲ 39.0% | 1.28B▲ 99.2% | 80.72M▲ 0% |
| Free Cash Flow | 6.59M▲ 0% | -428.59M▼ 6603.7% | -509.99M▼ 19.0% | -936.4M▼ 83.6% | -357.41M▲ 61.8% | -207.85M▲ 41.8% | 0▲ 0% |
| FCF Margin % | 1.89% | -103.15% | -70.76% | -77.86% | -19.04% | -10.01% | - |
| FCF Growth % | - | -6603.7% | -18.99% | -83.61% | 61.83% | 41.84% | - |
| FCF per Share | 0.07 | -4.50 | -4.06 | -7.46 | -2.86 | -1.61 | -1.61 |
| FCF Conversion (FCF/Net Income) | -0.38x | 3.28x | 0.93x | 2.31x | -0.12x | -0.62x | 0.00x |
| Interest Paid | 0 | 0 | 0 | 0 | 3.07M | 8.05M | 0 |
| Taxes Paid | 8.66M | 8.66M | 213K | 1.23M | 0 | 425K | 0 |
HSAI Key Ratios
Hesai Group (HSAI) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -16.88% | -11.69% | -10.21% | -14.2% | -2.63% | 8% |
| Return on Invested Capital (ROIC) | -15.31% | -11.43% | -12.35% | -17.65% | -6.54% | -6.54% |
| Gross Margin | 57.5% | 52.97% | 39.24% | 35.24% | 42.59% | 41.34% |
| Net Margin | -25.8% | -33.97% | -25.01% | -25.36% | -4.93% | 15.62% |
| Debt / Equity | - | - | 0.02x | 0.14x | 0.19x | 0.19x |
| Interest Coverage | - | - | - | -186.25x | -15.97x | 11.97x |
| FCF Conversion | 3.28x | 0.93x | 2.31x | -0.12x | -0.62x | 0.00x |
| Revenue Growth | 19.37% | 73.46% | 66.86% | 56.07% | 10.66% | 42.95% |
HSAI Frequently Asked Questions
Hesai Group (HSAI) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Hesai Group (HSAI) reported $2.74B in revenue for fiscal year 2024. This represents a 688% increase from $348.1M in 2019.
Hesai Group (HSAI) grew revenue by 10.7% over the past year. This is steady growth.
Yes, Hesai Group (HSAI) is profitable, generating $428.3M in net income for fiscal year 2024 (-4.9% net margin).
Dividend & Returns
Hesai Group (HSAI) has a return on equity (ROE) of -2.6%. Negative ROE indicates the company is unprofitable.
Hesai Group (HSAI) had negative free cash flow of $207.9M in fiscal year 2024, likely due to heavy capital investments.
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