Company Valuation: Hesai Group

Data adjusted to current consolidation scope
Fiscal Period: December 2023 2024 2025 2026 2027 2028
Market Cap 1 7,931 12,859 24,620 17,315 - -
Change - 62.13% 91.46% -29.67% - -
Enterprise Value (EV) 1 6,663 10,290 23,684 14,643 14,105 12,216
Change - 54.44% 130.17% -38.17% -3.67% -13.4%
P/E -16.6x -128x 52.6x 30.8x 17.9x 12.6x
PBR 2.08x 3.37x 2.43x 1.84x 1.67x 1.48x
PEG 0.4x 1.6x -0x 1.5x 0.2x 0.3x
Capitalization / Revenue 4.23x 6.19x 8.13x 3.97x 2.82x 2.16x
EV / Revenue 3.55x 4.95x 7.82x 3.36x 2.3x 1.52x
EV / EBITDA -13.7x -141x 81x 23.4x 13x 7.52x
EV / EBIT -11.7x -50.2x 140x 32x 16.5x 9.13x
EV / FCF -18.6x -49.5x -105x -52.8x 38.8x 13.6x
FCF Yield -5.36% -2.02% -0.95% -1.9% 2.58% 7.34%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -3.81 -0.79 2.98 3.593 6.175 8.772
Distribution rate - - - - - -
Net sales 1 1,877 2,077 3,028 4,361 6,132 8,027
EBITDA 1 -485.3 -73.1 292.5 625.9 1,082 1,625
EBIT 1 -571.6 -204.9 168.8 457.6 854.4 1,338
Net income 1 -476 -102.4 435.9 553.2 906.2 1,287
Net Debt 1 -1,269 -2,570 -936.5 -2,672 -3,209 -5,099
Reference price 2 63.18 100.87 156.67 110.68 110.68 110.68
Nbr of stocks (in thousands) 125,535 127,478 157,142 156,440 - -
Announcement Date 3/11/24 3/10/25 3/24/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
30.8x3.36x23.39x-.--% 2.56B
2076.09x141.95x1581.73x - 7.23B
-156.35x11.13x-167x-.--% 6.73B
-183.26x43.42x-579.36x - 2.49B
-117.29x13.84x-164.96x4.21% 1.54B
588.45x13.11x370.6x - 1.38B
20.94x3.64x12.6x2.9% 1.14B
Average 322.77x 32.92x 153.86x 1.78% 3.3B
Weighted average by Cap. 616.87x 54.67x 398.64x 0.82%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

  1. Stock Market
  2. Stocks
  3. HSAI Stock
  4. Valuation Hesai Group
-40%: Exceptional extension
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