Hesai Gr - Public Comps and Valuation Multiples

Hesai Gr Overview

About Hesai Gr

Hesai Group is engaged in the development, manufacture, and sales of three-dimensional light detection and ranging solutions, or LiDAR. Its LiDAR products enable a broad spectrum of applications across passenger or commercial vehicles with enhanced advanced driver assistance systems, or ADAS, autonomous vehicle fleets providing passenger and freight mobility services, or Autonomous Mobility, and other applications such as last-mile delivery robots, street sweeping robots, and logistics robots in restricted areas, or Robotics. Geographically, the company operates in North America, Mainland China, Europe, and Other regions.

Founded

2021

HQ

Employees

1.1K+

Website

hesaitech.com

Sectors

Sensors & Instruments

Financials

LTM Revenue $405M

LTM EBITDA $26.9M

EV

$4.2B

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Hesai Gr Financials

As of August 2025, Hesai Gr reported last 12-month revenue of $405M and EBITDA of $26.9M.

In the same period, Hesai Gr generated $169M in LTM gross profit and $25.0M in net income.

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Hesai Gr P&L

In the most recent fiscal year, Hesai Gr reported revenue of $266M and EBITDA of $5.6M.

Hesai Gr expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$405M	XXX	$266M	XXX	XXX	XXX
Gross Profit	$169M	XXX	$113M	XXX	XXX	XXX
Gross Margin	42%	XXX	43%	XXX	XXX	XXX
EBITDA	$26.9M	XXX	$5.6M	XXX	XXX	XXX
EBITDA Margin	7%	XXX	2%	XXX	XXX	XXX
EBIT	$6.0M	XXX	-$26.3M	XXX	XXX	XXX
EBIT Margin	1%	XXX	-10%	XXX	XXX	XXX
Net Profit	$25.0M	XXX	-$13.1M	XXX	XXX	XXX
Net Margin	6%	XXX	-5%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Hesai Gr including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $405M. EBITDA for the last twelve months was $26.9M. In the most recent fiscal year, Hesai Gr achieved $266M in revenue and $5.6M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$405M	Analyst estimates available to subscribers	$266M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$169M	Analyst estimates available to subscribers	$113M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	41.7% gross margin	Analyst estimates available to subscribers	42.6% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$26.9M	Analyst estimates available to subscribers	$5.6M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	6.6% EBITDA margin	Analyst estimates available to subscribers	2.1% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$6.0M	Analyst estimates available to subscribers	-$26.3M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	1.5% EBIT margin	Analyst estimates available to subscribers	-9.9% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$25.0M	Analyst estimates available to subscribers	-$13.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	6.2% net profit margin	Analyst estimates available to subscribers	-4.9% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Hesai Gr

This financial data table provides comprehensive performance metrics for Hesai Gr, a company based in Hong Kong. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Hesai Gr generated $405M in revenue over the last twelve months.
The company achieved $26.9M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $169M.
Net income over the last twelve months reached $25.0M.

Fiscal Year Performance

In the most recent fiscal year, Hesai Gr reported $266M in total revenue.
Fiscal year EBITDA was $5.6M.
The company maintained a gross profit margin of 42.6% in the most recent fiscal year.
EBITDA margin for the fiscal year was 2.1%.
Net profit margin reached -4.9% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Hesai Gr. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Hesai Gr Stock Performance

Hesai Gr has current market cap of HKD 35.6B (or $4.6B), and EV of HKD 32.8B (or $4.2B).

Market Cap Evolution

Hesai Gr Stock Data

As of September 17, 2025, Hesai Gr's stock price is HKD 232 (or $30).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$4.2B	$4.6B	XXX	XXX	XXX	XXX	$0.19

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Hesai Gr Valuation Multiples

Hesai Gr's trades at 15.8x EV/Revenue multiple, and 756.8x EV/EBITDA.

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Hesai Gr Financial Valuation Multiples

As of September 17, 2025, Hesai Gr has market cap of $4.6B and EV of $4.2B.

Equity research analysts estimate Hesai Gr's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Hesai Gr has a P/E ratio of 183.0x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$4.6B	XXX	$4.6B	XXX	XXX	XXX
EV (current)	$4.2B	XXX	$4.2B	XXX	XXX	XXX
EV/Revenue	10.4x	XXX	15.8x	XXX	XXX	XXX
EV/EBITDA	156.9x	XXX	756.8x	XXX	XXX	XXX
EV/EBIT	702.2x	XXX	-160.3x	XXX	XXX	XXX
EV/Gross Profit	24.9x	XXX	n/a	XXX	XXX	XXX
P/E	183.0x	XXX	-347.8x	XXX	XXX	XXX
EV/FCF	-232.7x	XXX	-158.0x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Hesai Gr Margins & Growth Rates

Hesai Gr's last 12 month revenue growth is 45%

Hesai Gr's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.

Hesai Gr's rule of 40 is 25% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Hesai Gr's rule of X is 120% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Hesai Gr Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	45%	XXX	55%	XXX	XXX	XXX
EBITDA Margin	7%	XXX	2%	XXX	XXX	XXX
EBITDA Growth	222%	XXX	n/a	XXX	XXX	XXX
Rule of 40	25%	XXX	47%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	120%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	9%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	41%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	52%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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