Hesai Group HSAI
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No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.
Valuation FY2025 figures against the last close
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS0.43
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $432.9M | $284.6M | $264.4M | $174.4M | — | — |
| Cost of revenue | $252.0M | $163.4M | $171.2M | $105.9M | — | — |
| Gross profit | $180.9M | $121.2M | $93.2M | $68.4M | — | — |
| R&D | $114.0M | $117.2M | $111.3M | $80.5M | — | — |
| SG&A | $41.3M | $43.4M | $45.1M | $29.1M | — | — |
| Total operating expenses | $156.8M | $149.3M | $173.7M | $123.3M | — | — |
| Operating income | $24.1M | -$28.1M | -$80.5M | -$54.8M | — | — |
| Interest expense | $2.7M | $1.8M | $432.0K | — | — | — |
| Pre-tax income | $66.8M | -$13.9M | -$66.9M | -$43.6M | — | — |
| Income tax | $4.4M | $155.0K | $93.0K | $10.0K | — | — |
| Net income | $62.3M | -$14.0M | -$67.0M | -$43.6M | — | — |
| EPS, basic | 0.45 | -0.11 | -0.54 | -0.94 | — | — |
| EPS, diluted | 0.43 | -0.11 | -0.54 | -0.94 | — | — |
| Shares, diluted (wtd. avg.) | $146.4M | $129.2M | $124.8M | $115.5M | $105.0M | $89.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $237.9M | $406.5M | $213.5M | $128.6M | $65.2M | — |
| Short-term investments | $442.1M | $49.6M | $223.4M | $137.1M | — | — |
| Receivables | $180.5M | $104.8M | $73.9M | $70.3M | — | — |
| Inventory | $95.9M | $66.1M | $69.8M | $93.8M | — | — |
| Total current assets | $1.01B | $641.5M | $619.4M | $454.5M | — | — |
| Property, plant and equipment | — | — | $122.8M | $73.2M | — | — |
| Goodwill | — | — | $0 | $554.0K | — | — |
| Other intangibles | $13.7M | $10.5M | $11.1M | $3.0M | — | — |
| Total assets | $1.61B | $820.6M | $797.6M | $556.7M | — | — |
| Accounts payable | $84.7M | $47.3M | $38.0M | $30.0M | — | — |
| Short-term debt | $64.1M | $47.3M | $15.7M | — | — | — |
| Total current liabilities | $271.0M | $223.2M | $188.0M | $138.5M | — | — |
| Long-term debt | $39.9M | $36.9M | $40.3M | $2.7M | — | — |
| Total liabilities | $329.3M | $281.9M | $253.6M | $144.6M | — | — |
| Retained earnings | -$425.3M | -$467.1M | -$465.8M | -$410.5M | — | — |
| Total equity | $1.28B | $538.6M | $544.0M | -$456.0M | — | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | $16.7M | $8.7M | $8.1M | -$100.9M | — | — |
| Depreciation and amortisation | $17.7M | $18.1M | $12.2M | $7.8M | — | — |
| Stock-based compensation | $16.4M | $15.9M | $33.0M | $15.3M | — | — |
| Capital expenditure | $44.2M | $35.6M | $57.3M | $33.5M | — | — |
| Investing cash flow | -$794.2M | $131.0M | -$149.4M | $162.3M | — | — |
| Financing cash flow | $621.5M | $34.3M | $224.0M | $2.2M | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-048025.
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