Hesai Group (HSAI) Financial Ratios
7 years of historical data (2019–2025) · Consumer Cyclical · Auto - Parts
EV/EBITDA
57.38
↑+451% vs avg
5yr avg: 10.41
30Y Low10.4·High10.4
P/FCF
N/A
—
5yr avg: N/A
P/B Ratio
↑
1.87
↑+406% vs avg
5yr avg: 0.37
30Y Low0.3·High0.5
ROE
↑
6.8%
↓+206% vs avg
5yr avg: -6.4%
30Y Low-90%·High7%
Debt/EBITDA
3.89
+0% vs avg
5yr avg: 3.89
30Y Low3.9·High3.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
HSAI Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Hesai Group trades at 39.9x earnings, 411% above its 5-year average of 7.8x, sitting at the 100th percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 21.2x, the stock trades at a premium of 89%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.2B | $3.3B | $1.8B | $1.1B | — | — | — | — |
| Enterprise Value | $2.1B | $2.6B | $-314326113 | $116M | — | — | — | — |
| P/E Ratio → | 39.88 | 7.80 | — | — | — | — | — | — |
| P/S Ratio | 4.92 | 1.08 | 0.86 | 0.59 | — | — | — | — |
| P/B Ratio | 1.87 | 0.37 | 0.45 | 0.29 | — | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — |
| P/OCF | 130.91 | 28.82 | 28.11 | 19.42 | — | — | — | — |
P/E links to full P/E history page with 30-year chart
HSAI EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Hesai Group's enterprise value stands at 57.4x EBITDA, 451% above its 5-year average of 10.4x. The Consumer Cyclical sector median is 12.2x, placing the stock at a 371% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.85 | -0.15 | 0.06 | — | — | — | — |
| EV / EBITDA | 57.38 | 10.41 | — | — | — | — | — | — |
| EV / EBIT | 114.88 | 5.30 | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — |
HSAI Profitability
Margins and return-on-capital ratios measuring operating efficiency
Hesai Group earns an operating margin of 4.1%, above the Consumer Cyclical sector average of 2.0%. Operating margins have expanded from -30.5% to 4.1% over the past 3 years, signaling improving operational efficiency. ROE of 6.8% is modest. ROIC of 1.8% represents below-average returns on invested capital versus a sector median of 5.2%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 41.8% | 41.8% | 42.6% | 35.2% | 39.2% | 53.0% | 57.5% | 70.3% |
| Operating Margin | 4.1% | 4.1% | -9.9% | -30.5% | -31.4% | -36.8% | -24.5% | -42.5% |
| Net Profit Margin | 14.4% | 14.4% | -4.9% | -25.4% | -25.0% | -34.0% | -25.8% | -34.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 6.8% | 6.8% | -2.6% | -14.2% | -10.2% | -11.7% | -16.9% | -90.1% |
| ROA | 5.1% | 5.1% | -1.8% | -10.0% | -7.7% | -9.3% | -14.4% | -67.4% |
| ROIC | 1.8% | 1.8% | -6.5% | -17.6% | -12.4% | -11.4% | -15.3% | -94.7% |
| ROCE | 1.8% | 1.8% | -4.7% | -15.9% | -12.7% | -12.6% | -15.8% | -106.2% |
HSAI Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Hesai Group carries a Debt/EBITDA ratio of 3.9x, which is moderately leveraged (18% below the sector average of 4.8x). The company holds a net cash position — cash of $1.7B exceeds total debt of $963M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 26.4x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.11 | 0.11 | 0.19 | 0.14 | 0.02 | — | — | — |
| Debt / EBITDA | 3.89 | 3.89 | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.08 | -0.53 | -0.26 | -0.30 | -0.15 | -0.23 | -0.12 |
| Net Debt / EBITDA | -2.85 | -2.85 | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | -2.46 |
| Interest Coverage | 26.39 | 26.39 | -15.97 | -153.86 | — | — | — | — |
Net cash position: cash ($1.7B) exceeds total debt ($963M)
HSAI Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Hesai Group's current ratio of 3.73x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 3.38x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 3.29x to 3.73x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.73 | 3.73 | 2.87 | 3.29 | 3.28 | 3.92 | 7.25 | 4.32 |
| Quick Ratio | 3.38 | 3.38 | 2.58 | 2.92 | 2.60 | 3.49 | 6.35 | 4.02 |
| Cash Ratio | 2.51 | 2.51 | 1.97 | 2.37 | 1.95 | 3.13 | 5.41 | 3.78 |
| Asset Turnover | — | 0.27 | 0.35 | 0.33 | 0.31 | 0.18 | 0.32 | 1.95 |
| Inventory Turnover | 2.63 | 2.63 | 2.47 | 2.45 | 1.13 | 0.90 | 1.18 | 9.04 |
| Days Sales Outstanding | — | 163.69 | 140.10 | 105.88 | 154.60 | 124.20 | 83.15 | 8.00 |
HSAI Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Hesai Group does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 2.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | 1.6% | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.5% | 12.8% | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 1.6% | — | — | — | — |
| Shares Outstanding | — | $146M | $129M | $125M | $126M | $126M | $95M | $89M |
Peer Comparison
Compare HSAI with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 HSAIYou | $2B | 39.9 | 57.4 | — | 41.8% | 4.1% | 6.8% | 1.8% | 3.9 |
 LAZR | $2M | -0.0 | — | — | — | -449.6% | — | -140.1% | — |
 OUST | $3B | -43.5 | — | — | 49.3% | -43.7% | -27.3% | -30.2% | — |
 INVZ | $129M | -1.7 | — | — | 23.4% | -123.0% | -86.6% | -46.9% | — |
 AEVA | $2B | -9.6 | — | — | -3.7% | -705.8% | -258.4% | -162.8% | — |
 LIDR | $67M | -1.6 | — | — | -137.8% | -13618.5% | -70.4% | -100.7% | — |
 MVIS | $121M | -1.0 | — | — | -1435.4% | -5743.8% | -182.1% | -98.3% | — |
 MBLY | $7B | -17.6 | 65.6 | 13.2 | 47.7% | -23.2% | -3.3% | -3.2% | — |
 AEYE | $79M | -25.2 | 224.1 | 16.8 | 78.3% | -7.9% | -43.2% | -20.1% | 34.1 |
 QUBT | $1B | -97.8 | — | — | 9.8% | -7489.3% | -2.2% | -8.6% | — |
 NVDA | $5.1T | 43.0 | 38.3 | 52.8 | 71.1% | 60.4% | 101.5% | 81.8% | 0.1 |
| Consumer Cyclical Median | — | 21.2 | 12.2 | 15.6 | 36.2% | 2.0% | 5.3% | 5.2% | 4.8 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 7 years · Updated daily
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HSAI — Frequently Asked Questions
Quick answers to the most common questions about buying HSAI stock.
What is Hesai Group's P/E ratio?
Hesai Group's current P/E ratio is 39.9x. The historical average is 7.8x. This places it at the 100th percentile of its historical range.
What is Hesai Group's EV/EBITDA?
Hesai Group's current EV/EBITDA is 57.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.4x.
What is Hesai Group's ROE?
Hesai Group's return on equity (ROE) is 6.8%. The historical average is -19.9%.
Is HSAI stock overvalued?
Based on historical data, Hesai Group is trading at a P/E of 39.9x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Hesai Group's profit margins?
Hesai Group has 41.8% gross margin and 4.1% operating margin.
How much debt does Hesai Group have?
Hesai Group's Debt/EBITDA ratio is 3.9x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.