Hesai Group
HSAI Nasdaq· General Industrial Machinery & Equipment, Nec
Last close · Nov 9, 2026
$14.31
Key numbers, fiscal 2025
Market cap
$2.1B
P/E
34.5x
Revenue
$421M
Net income
$60.6M
Free cash flow
−$26.8M
Operating margin
5.6%
Hesai Group in 30 seconds fiscal 2025
Are sales growing?
+45.9%
Yes. Sales grew 45.9% last year.
Does it make a profit?
14.4%
Yes. It keeps 14.4% of every sale as profit.
How long would its cash last?
25.4 yrs
Comfortably. It burns $26.8M a year and holds $679M, about 25.4 years at that pace.
Is debt under control?
Net cash
Yes. It has more cash than debt.
How healthy are the accounts?
5 / 9
Mixed. It passes 5 of 9 health tests.
How is the share priced?
34.5x
One share costs 34.5 times its yearly profit per share.
What Hesai Group does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · Apr 24, 2026
- Legal name
- Hesai Group
- CIK
- 0001861737
Hesai Group · HSAI · stoqly.net
Results and finances
The last 5 fiscal years. Amounts in USD. Compiled by stoqly.net.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $2.4M | $0.0M | $0.0M | $289M | $421M |
| Revenue growth | −96.0% | −100.0% | — | — | 45.9% |
| Gross margin | 2,438.9% | — | — | 42.6% | 41.8% |
| Operating margin | −1,694.6% | — | — | −9.9% | 5.6% |
| Net income | −$38.0M | −$44.7M | −$67.2M | −$14.2M | $60.6M |
| Net margin | −1,563.9% | — | — | −4.9% | 14.4% |
| Diluted EPS | −$3.63 | −$0.96 | −$0.54 | −$0.11 | $0.41 |
| Cash | |||||
| Cash from operations | −$35.4M | −$103M | $8.1M | $8.8M | $16.3M |
| Capital expenditure | $34.1M | $34.3M | $57.4M | $36.1M | $43.0M |
| Free cash flow | −$69.5M | −$138M | −$49.3M | −$27.2M | −$26.8M |
| FCF margin | −2,864.8% | — | — | −9.4% | −6.4% |
| Share count change | 16.8% | 10.0% | 8.0% | 3.5% | 13.4% |
| Debt and strength | |||||
| Cash and short-term investments | $440M | $269M | $442M | $439M | $679M |
| Debt incl. finance leases | — | $2.7M | $55.7M | $57.3M | $47.2M |
| Shareholders' equity | −$392M | −$456M | $544M | $539M | $1.3B |
| Net debt / EBITDA | — | — | — | — | −15.5x |
| Current ratio | 3.9x | 3.3x | 3.3x | 2.9x | 3.7x |
| Interest coverage | — | — | −186.2x | −16.0x | 8.9x |
| Returns and quality | |||||
| Return on capital | — | — | −40.5% | −14.3% | 3.4% |
| Return on equity | — | — | −153.2% | −2.6% | 6.7% |
| Return on tangible equity | — | — | −12.6% | −2.7% | 4.8% |
| Piotroski F-score | — | 0 | 3 | 5 | 5 |
| Altman Z'' | −0.8 | −2.7 | 3.2 | 3.3 | 6.3 |
Insider trades 12 months
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Hesai Group · HSAI · stoqly.net
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Compiled and analysed by stoqly.net from SEC EDGAR XBRL filings (CIK 0001861737). Latest version: stoqly.net/companies/hsai. Data updated November 9, 2026. Filed in CNY under US GAAP and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. For information only — not investment advice. Check the original filings before relying on any figure.