Hesai Group HSAI
ChinaConsumer Cyclical · Auto PartsUSD
28.39 USD (+77.4%)
19 analysts
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Hesai Group is a Chinese manufacturer of LiDAR sensors for autonomous vehicles and advanced driver-assistance systems (ADAS), selling to automakers and robotics companies.
Key points
from its scores- ✓Strong growth8.2
- ✓Very solid balance sheet7.5
- ✕Unfavourable risk and backdrop0.5
- ✕Little or no dividend1.5
- ✕Demanding valuation1.9
AI analysis
bottom line, main risk, context and newsGrowth and net cash are attractive, but lack of profitability and demanding valuation limit upside potential in the short term.
Hesai Group shows strong growth (revenue +21.9%, earnings +25%) and solid financial health with net cash, but its profitability is very poor (operating margin 0.25%, ROE 7.49%) and its valuation is demanding (P/E 34.04, EV/EBITDA 1422), with very negative cash conversion that weighs on its quality.
The main risk is the combination of near-zero operating margins and very negative cash conversion, which could force the company to dilute shareholders if growth does not translate into profits.
Context and risks
Hesai Group is domiciled in China, a jurisdiction with high governance risk and weak minority protection. Additionally, its LiDAR sensor business for automotive is exposed to geopolitical tensions and potential technology export restrictions between the US and China, adding material regulatory and supply chain risk.
Is Hesai Group stock cheap or expensive?
at the analysis dateOn P/E, it trades 91% above the Consumer Cyclical median.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 34.0 | 17.8 | +91% |
| Price / book | 15.0 | 2.9 | +423% |
| Price / sales | 40.4 | 1.3 | +3,114% |
Sector: median of the 228 Consumer Cyclical companies analysed. In bold, the multiples used for the comparison.
Valuation score: 1.9 out of 10 (median for Consumer Cyclical: 6.6).
Average analyst target: 28.39 USD, +77.4% versus the price.
A premium can be justified if the company is of higher quality or grows faster than its sector: Quality / Moat 2.5 (sector 5.7), Growth 8.2 (sector 5.9).
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Consumer Cyclical medianValuation
- P/E
- 34.0
- Forward P/E
- 18.2
- EV / EBITDA
- 1,422.2
- Price / book
- 15.0
- Price / sales
- 40.4
- PEG
- 0.51
- Market cap
- 20.1B USD
- Enterprise value
- 128.7B CNY
Profitability
- ROE
- 7.5%
- ROA
- −0.1%
- ROIC (approx.)
- 0.1%
- Gross margin
- 40.7%
- Operating margin
- 0.3%
- Net margin
- 14.9%
- Free cash flow
- −328.2M CNY
- FCF yield
- −0.2%
- Cash conversion
- −363%
Solvency
- Total debt
- 705.7M CNY
- Net debt
- −5.9B CNY
- Cash
- 6.6B CNY
- EBITDA
- 90.5M CNY
- Net debt / EBITDA
- −65.68
- Debt / equity
- 7.88
- Current ratio
- 5.37
- Quick ratio
- 4.63
Growth
- Revenue growth
- +21.9%
- Earnings growth
- +25.0%
- EPS (TTM)
- 0.47 USD
- EPS (forward)
- 0.88 USD
Dividend
- Dividend yield
- 0.0%
- Payout
- 0.0%
Risk and market
- Beta
- 1.37
- Analyst consensus
- Strong buy (19)
- Target price
- 28.39 USD
- 52-week range
- 14.29 – 29.35
Recent news
All HSAI news →Compare it with its sector
All 228 in Consumer Cyclical →Frequently asked questions about Hesai Group
Is Hesai Group stock cheap or expensive?
On P/E, it trades 91% above the Consumer Cyclical median. Valuation score: 1.9 out of 10 (median for Consumer Cyclical: 6.6). Average analyst target: 28.39 USD, +77.4% versus the price. This is not investment advice.
What score does Hesai Group get on MeridIAn Screener?
It scores 3.2 out of 10, rank 2,062 of 2,130 (better than 3% of the companies analysed). Its strongest category is Growth (8.2) and its weakest, Risk & Context (0.5). Analysis of 08/10/2026.
What is Hesai Group's P/E ratio?
Its P/E is 34.0: the share price equals 34.0 times earnings per share over the last 12 months. The Consumer Cyclical median is 17.8. Based on the earnings analysts expect, the forward P/E is 18.2.
How much is Hesai Group worth on the stock market?
Its market capitalisation is 20.1B USD and its enterprise value, debt included, is 128.7B USD.
How much debt does Hesai Group have?
It has more cash than debt: net cash of 5.9B CNY.
Does Hesai Group pay a dividend?
It pays no dividend, or almost none.
How has Hesai Group stock performed over the last year?
It has fallen 27.4% over the last year, excluding dividends. Over the last 52 weeks it has traded between 14.29 and 29.35 USD. Past performance does not guarantee future results.
What do analysts think of Hesai Group?
19 analysts cover it; their average recommendation is “Strong buy” and their average target is 28.39 USD (+77.4% versus the price). It is an estimate, not market data.