Hesai Group Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Hesai Group has an operating margin of -9.9%, meaning the company retains $-10 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -30.4% the prior year.
Hesai Group's revenue grew 7.6% year-over-year to $284.6M, a solid pace of expansion. This earns a growth score of 50/100.
Hesai Group carries a low D/E ratio of 0.07, meaning only $0.07 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.87, Hesai Group holds $2.87 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 95/100.
While Hesai Group generated $8.7M in operating cash flow, capex of $35.6M consumed most of it, leaving -$26.9M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Hesai Group passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Hesai Group generates $-0.62 in operating cash flow ($8.7M OCF vs -$14.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Hesai Group earns $-16.0 in operating income for every $1 of interest expense (-$28.1M vs $1.8M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
This page shows Hesai Group (HSAI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Hesai Group generated $284.6M in revenue in fiscal year 2024. This represents an increase of 7.6% from the prior year.
Hesai Group's EBITDA was -$10.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 85.4% from the prior year.
Hesai Group generated -$26.9M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 45.4% from the prior year.
Hesai Group reported -$14.0M in net income in fiscal year 2024. This represents an increase of 79.1% from the prior year.
Hesai Group earned $-0.11 per diluted share (EPS) in fiscal year 2024. This represents an increase of 79.6% from the prior year.
Hesai Group held $388.9M in cash against $36.9M in long-term debt as of fiscal year 2024.
Hesai Group's gross margin was 42.6% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 7.4 percentage points from the prior year.
Hesai Group's operating margin was -9.9% in fiscal year 2024, reflecting core business profitability. This is up 20.6 percentage points from the prior year.
Hesai Group's net profit margin was -4.9% in fiscal year 2024, showing the share of revenue converted to profit. This is up 20.4 percentage points from the prior year.
Hesai Group invested $117.2M in research and development in fiscal year 2024. This represents an increase of 5.3% from the prior year.
Hesai Group invested $35.6M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 37.9% from the prior year.
HSAI Income Statement
| Metric | Q4'24 | Q4'23 | Q4'22 |
|---|---|---|---|
| Revenue | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A |
| Interest Expense | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A |
| Net Income | N/A | N/A | N/A |
| EPS (Diluted) | N/A | N/A | N/A |
HSAI Balance Sheet
| Metric | Q4'24 | Q4'23 | Q4'22 |
|---|---|---|---|
| Total Assets | $820.6M+2.9% | $797.6M+43.3% | $556.7M |
| Current Assets | $641.5M+3.6% | $619.4M+36.3% | $454.5M |
| Cash & Equivalents | $388.9M+77.6% | $219.0M+65.4% | $132.4M |
| Inventory | $66.1M-5.4% | $69.8M-25.5% | $93.8M |
| Accounts Receivable | $104.8M+41.8% | $73.9M+5.1% | $70.3M |
| Goodwill | N/A | $0-100.0% | $554K |
| Total Liabilities | $281.9M+11.2% | $253.6M-75.0% | $1.0B |
| Current Liabilities | $223.2M+18.7% | $188.0M+35.7% | $138.5M |
| Long-Term Debt | $36.9M-8.3% | $40.3M+1403.7% | $2.7M |
| Total Equity | $538.6M-1.0% | $544.0M+219.3% | -$456.0M |
| Retained Earnings | -$467.1M-0.3% | -$465.8M-13.5% | -$410.5M |
HSAI Cash Flow Statement
| Metric | Q4'24 | Q4'23 | Q4'22 |
|---|---|---|---|
| Operating Cash Flow | N/A | N/A | N/A |
| Capital Expenditures | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A |
| Financing Cash Flow | N/A | N/A | N/A |
| Dividends Paid | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A |
HSAI Financial Ratios
| Metric | Q4'24 | Q4'23 | Q4'22 |
|---|---|---|---|
| Gross Margin | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A |
| Return on Assets | N/A | N/A | N/A |
| Current Ratio | 2.87-0.4 | 3.29+0.0 | 3.28 |
| Debt-to-Equity | 0.070.0 | 0.07+0.1 | -0.01 |
| FCF Margin | N/A | N/A | N/A |
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Frequently Asked Questions
What is Hesai Group's annual revenue?
Hesai Group (HSAI) reported $284.6M in total revenue for fiscal year 2024. This represents a 7.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Hesai Group's revenue growing?
Hesai Group (HSAI) revenue grew by 7.6% year-over-year, from $264.4M to $284.6M in fiscal year 2024.
Is Hesai Group profitable?
No, Hesai Group (HSAI) reported a net income of -$14.0M in fiscal year 2024, with a net profit margin of -4.9%.
What is Hesai Group's earnings per share (EPS)?
Hesai Group (HSAI) reported diluted earnings per share of $-0.11 for fiscal year 2024. This represents a 79.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Hesai Group's EBITDA?
Hesai Group (HSAI) had EBITDA of -$10.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Hesai Group have?
As of fiscal year 2024, Hesai Group (HSAI) had $388.9M in cash and equivalents against $36.9M in long-term debt.
What is Hesai Group's gross margin?
Hesai Group (HSAI) had a gross margin of 42.6% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Hesai Group's operating margin?
Hesai Group (HSAI) had an operating margin of -9.9% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Hesai Group's net profit margin?
Hesai Group (HSAI) had a net profit margin of -4.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Hesai Group's free cash flow?
Hesai Group (HSAI) generated -$26.9M in free cash flow during fiscal year 2024. This represents a 45.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Hesai Group's operating cash flow?
Hesai Group (HSAI) generated $8.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Hesai Group's total assets?
Hesai Group (HSAI) had $820.6M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Hesai Group's capital expenditures?
Hesai Group (HSAI) invested $35.6M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Hesai Group spend on research and development?
Hesai Group (HSAI) invested $117.2M in research and development during fiscal year 2024.
What is Hesai Group's current ratio?
Hesai Group (HSAI) had a current ratio of 2.87 as of fiscal year 2024, which is generally considered healthy.
What is Hesai Group's debt-to-equity ratio?
Hesai Group (HSAI) had a debt-to-equity ratio of 0.07 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Hesai Group's return on assets (ROA)?
Hesai Group (HSAI) had a return on assets of -1.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Hesai Group's Piotroski F-Score?
Hesai Group (HSAI) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Hesai Group's earnings high quality?
Hesai Group (HSAI) has an earnings quality ratio of -0.62x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Hesai Group cover its interest payments?
Hesai Group (HSAI) has an interest coverage ratio of -16.0x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Hesai Group?
Hesai Group (HSAI) scores 49 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.