Hesai
HSAI
16.00
-0.27
-1.66%
Hesai
US · HSAI
#2628 by market cap
Listed 2023
16.00
-0.27
-1.66%
Live - 5344 symbols - heartbeat 53s ago
· 2026-10-08 06:32
Pre-market
16.17
+1.07%
After-hours
16.04
+0.25%
Overnight
16.00
0.00%
- Market cap
- 2.51B
- P/E (TTM)i
- 31.75
- P/Bi
- 1.88
- EPSi
- 0.44
- Div yieldi
- 0.00%
- 52W posi
- 11%
Reader sentiment
Are you bullish or bearish on HSAI?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Weak
- Altman Z-Score is 1.14, below the 1.8 "distress zone" threshold.
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 7 years
Latest year +45.76% YoY
Margins
- Gross margin
- 41.79%
- Operating margin
- 4.08%
- Net margin
- 14.40%
Key ratios & quality
- Enterprise valuei
- -1.33B
- Altman Z-Scorei
- 1.14
Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 348.08M | 415.51M | 720.77M | 1.20B | 1.88B | 2.08B | 3.03B |
| Gross profit | 244.71M | 238.91M | 381.80M | 471.99M | 661.38M | 884.59M | 1.27B |
| Selling & admin expenses | 93.85M | 126.46M | 305.98M | 305.84M | 468.94M | 509.95M | 480.82M |
| Research & development | 149.82M | 229.65M | 368.44M | 555.18M | 790.55M | 855.64M | 796.94M |
| Operating profit | 12.05M | -101.81M | -265.29M | -378.22M | -577.72M | -408.23M | 123.54M |
| Pretax profit | -119.29M | -107.41M | -245.86M | -300.79M | -475.27M | -101.23M | 466.79M |
| Tax | 930.00K | -199.00K | -1.12M | -66.00K | 658.00K | 1.13M | 30.84M |
| Net profit | -120.22M | -107.22M | -244.83M | -300.77M | -475.97M | -102.38M | 435.88M |
| Basic EPS | -1 | -1 | -23 | -6 | -4 | -1 | 3 |
| Diluted EPS | -1.40 | -0.81 | -23.39 | -5.95 | -3.81 | -0.79 | 2.98 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 525.30M | 706.39M | 795.40M | 1.00B | 680.56M | 860.83M |
| Gross profit | 219.24M | 300.48M | 334.90M | 410.48M | 266.02M | 345.25M |
| Selling & admin expenses | 104.63M | 106.03M | 117.02M | 153.14M | 94.28M | 116.54M |
| Research & development | 183.31M | 199.22M | 198.86M | 215.55M | 204.67M | 231.17M |
| Operating profit | -33.45M | 22.85M | 77.37M | 56.77M | -8.56M | 2.20M |
| Pretax profit | -17.60M | 44.19M | 283.72M | 156.48M | 18.32M | 70.55M |
| Tax | -67.00K | 94.00K | 27.50M | 3.31M | 2.00K | 3.00K |
| Net profit | -17.55M | 44.09M | 256.17M | 153.17M | 18.32M | 70.55M |
| Basic EPS | 0 | 0 | 2 | 1 | 0 | 0 |
| Diluted EPS | -0.13 | 0.32 | 1.79 | 0.94 | 0.11 | 0.40 |
Balance sheet
| Line item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Total current assets | 1.17B | 1.21B | 3.49B | 3.14B | 4.40B | 4.68B | 7.07B |
| Cash & ST investments | 1.02B | 895.67M | 2.79B | 1.86B | 3.14B | 3.20B | 4.76B |
| Inventory | 70.24M | 149.93M | 376.24M | 646.85M | 495.88M | 482.14M | 670.45M |
| Total assets | 1.24B | 1.31B | 3.95B | 3.84B | 5.66B | 5.99B | 11.26B |
| Total current liabilities | 271.17M | 166.74M | 892.16M | 955.54M | 1.34B | 1.63B | 1.90B |
| Short-term debt | -- | -- | -- | 34.98M | 153.93M | 371.45M | 635.20M |
| Long-term debt | -- | -- | -- | 18.47M | 285.90M | 269.44M | 278.73M |
| Total liabilities | 313,150,000.00 | 174,932,000.00 | 902,548,000.00 | 997,663,000.00 | 1,800,225,000.00 | 2,057,880,000.00 | 2,302,524,000.00 |
| Total equity | 929.21M | 1.14B | 3.05B | 2.84B | 3.86B | 3.93B | 8.96B |
| Retained earnings | -170.76M | -56.05M | -2.19B | -2.83B | -3.31B | -3.41B | -2.97B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 4.56B | 4.82B | 9.53B | 7.07B | 7.96B | 9.14B |
| Cash & ST investments | 2.86B | 2.84B | 7.36B | 4.76B | 5.72B | 6.65B |
| Inventory | 489.97M | 599.25M | 642.76M | 670.45M | 721.74M | 868.50M |
| Total assets | 5.83B | 6.26B | 10.91B | 11.26B | 10.90B | 10.27B |
| Total current liabilities | 1.12B | 1.52B | 1.66B | 1.90B | 1.60B | 1.70B |
| Short-term debt | 334.25M | 598.73M | 593.91M | 635.20M | 628.19M | 488.02M |
| Long-term debt | -- | 273.44M | 315.39M | 278.73M | 258.16M | 242.01M |
| Total liabilities | 1,550,248,000.00 | 1,906,851,000.00 | 2,072,312,000.00 | 2,302,524,000.00 | 1,976,550,000.00 | 1,314,692,000.00 |
| Total equity | 4.28B | 4.36B | 8.84B | 8.96B | 8.93B | 8.95B |
| Retained earnings | -- | -3.38B | -3.13B | -2.97B | -2.96B | -2.88B |
Cash flow
| Line item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 46.17M | -352.02M | -228.39M | -696.02M | 57.26M | 63.50M | 116.99M |
| Depreciation & amortization | 9.72M | 19.22M | 28.23M | 53.63M | 86.27M | 131.81M | 123.79M |
| Free cash flow | 6.59M | -428.59M | -509.99M | -936.41M | -357.41M | -207.86M | -225.21M |
| Dividends paid | 0 | 0 | -507.62M | 0 | -17.51M | 0 | -292.72M |
| Stock buybacks / issuance | 739.74M | 317.15M | 453.98M | 0 | 1.23B | 0 | 4.25B |
| Ending cash balance | 112.74M | 256.69M | 449.35M | 913.28M | 1.56B | 2.84B | 1.67B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | -35.41M | -- | -- | -- | -- | -- |
| Depreciation & amortization | -- | -- | -- | -- | -- | -- |
| Free cash flow | -35.41M | -- | -- | -- | -- | -- |
| Dividends paid | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | -- | -- | -- | -- | -- | -- |
| Ending cash balance | 390.01M | -- | -- | -- | -- | -- |
Returns & efficiency
| Line item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| ROE %i | -- | -22.16 | -- | -- | -132.74 | -2.63 | 6.76 |
| ROA %i | -14.12 | -8.39 | -93.31 | -19.18 | -10.02 | -1.76 | 5.05 |
| ROIC %i | -- | -26.47 | -- | -- | -81.87 | -3.76 | 4.54 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 3.46 | -24.50 | -36.81 | -31.45 | -25.16 | -4.26 | 16.04 |
| FCF / sales %i | 1.89 | -- | -- | -- | -- | -- | -- |
| Current ratioi | 4.32 | 7.25 | 3.92 | 3.28 | 3.29 | 2.87 | 3.73 |
| Quick ratioi | 3.97 | 6.14 | 3.40 | 2.48 | 2.78 | 2.48 | 3.27 |
| Debt / assetsi | -- | -- | 0.00 | 1.66 | 9.88 | 12.34 | 8.88 |
| LT debt / equityi | -- | -- | -- | -- | 10.49 | 9.35 | 4.07 |
| Interest coveragei | -- | -- | -- | -- | -153.86 | -6.89 | 25.67 |
| Revenue CAGR (3Y) %i | -- | -- | -- | 51.18 | 65.31 | 42.31 | 36.03 |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- | -- |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | -0.32 | 2.54 | 6.84 | 6.76 | 7.15 | 7.49 |
| ROA %i | -0.23 | 1.73 | 5.22 | 5.05 | 5.64 | 6.03 |
| ROIC %i | -1.64 | 0.67 | 5.07 | 4.54 | 4.50 | 4.28 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 0.15 | 4.92 | 17.34 | 16.04 | 16.41 | 16.37 |
| FCF / sales %i | 0.61 | -- | -- | -- | -- | -- |
| Current ratioi | 4.06 | 3.18 | 5.75 | 3.73 | 4.97 | 5.37 |
| Quick ratioi | 3.43 | 2.60 | 5.19 | 3.27 | 4.30 | 4.63 |
| Debt / assetsi | 5.74 | 15.16 | 8.99 | 8.88 | 8.83 | 7.78 |
| LT debt / equityi | -- | 8.05 | 4.38 | 4.07 | 3.75 | 3.47 |
| Interest coveragei | 0.22 | 6.53 | 25.84 | 25.67 | 26.46 | 31.57 |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
✦ Quant Revenue Concentration how this is computed
Single-engine
- Light detection and ranging (LiDAR) products is the largest reported line at 98.21% of revenue, across 4 reported segments.
- The next-largest line, Engineering design, development and validation service, is a distant second at 1.19% - a sharp slowdown here would have little to offset it.
Revenue breakdown most recent period
Business
Light detection and ranging (LiDAR) products98.21%
Engineering design, development and validation service1.19%
Other products0.32%
Other Services0.28%
Region
Chinese Mainland77.78%
North America14.92%
Europe4.62%
Other regions2.68%
Quote time 2026-10-08 06:32:28 · For reference only, not investment advice and not tailored to your situation.