Hesai Group

DB:ZN80 Stock Report

Market Cap: €580.3m

Hesai Group Valuation

Is ZN80 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ZN80 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ZN80 (€4.1) is trading below our estimate of fair value (€14.5)

Significantly Below Fair Value: ZN80 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ZN80?

Key metric: As ZN80 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for ZN80. This is calculated by dividing ZN80's market cap by their current revenue.
What is ZN80's PS Ratio?
PS Ratio2.4x
SalesCN¥1.82b
Market CapCN¥4.38b

Price to Sales Ratio vs Peers

How does ZN80's PS Ratio compare to its peers?

The above table shows the PS ratio for ZN80 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.3x
SFQ SAF-Holland
0.3x4.9%€619.2m
ZIL2 ElringKlinger
0.1x2.1%€253.4m
NVM Novem Group
0.4x4.1%€253.0m
ED4 EDAG Engineering Group
0.2x2.7%€192.0m
ZN80 Hesai Group
2.4x27.3%€604.2m

Price-To-Sales vs Peers: ZN80 is expensive based on its Price-To-Sales Ratio (2.4x) compared to the peer average (0.3x).

Price to Sales Ratio vs Industry

How does ZN80's PS Ratio compare vs other companies in the European Auto Components Industry?

8 CompaniesPrice / SalesEstimated GrowthMarket Cap
ZN80 2.4xIndustry Avg. 0.3xNo. of Companies14PS00.40.81.21.62+
8 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: ZN80 is expensive based on its Price-To-Sales Ratio (2.4x) compared to the European Auto Components industry average (0.3x).

Price to Sales Ratio vs Fair Ratio

What is ZN80's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ZN80 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.4x
Fair PS Ratio1x

Price-To-Sales vs Fair Ratio: ZN80 is expensive based on its Price-To-Sales Ratio (2.4x) compared to the estimated Fair Price-To-Sales Ratio (1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ZN80 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€4.10
€6.15
+50.1%
20.3%€8.94€4.75n/a8
Nov ’25€4.10
€6.15
+50.1%
20.3%€8.94€4.75n/a8
Oct ’25€3.96
€6.15
+55.4%
20.3%€8.94€4.75n/a8
Sep ’25€3.46
€6.15
+77.9%
20.3%€8.94€4.75n/a8
Aug ’25€3.94
€9.29
+135.9%
37.7%€14.83€5.51n/a8
Jul ’25€3.74
€9.37
+150.6%
37.5%€14.99€5.57n/a8
Jun ’25€4.30
€10.16
+136.3%
35.2%€14.91€5.54n/a8
May ’25€4.18
€10.31
+146.6%
35.2%€15.11€5.59n/a8
Apr ’25€4.64
€10.19
+119.6%
35.3%€14.95€5.52n/a8
Mar ’25€3.38
€13.41
+296.6%
20.9%€16.64€8.78n/a7
Feb ’25€4.46
€13.84
+210.3%
18.6%€16.82€8.87n/a7
Jan ’25€7.90
€14.55
+84.1%
10.7%€16.62€11.91n/a7
Dec ’24€9.50
€14.69
+54.7%
10.6%€16.72€11.99n/a7
Nov ’24€8.85
€14.50
+63.9%
16.3%€19.01€11.78€4.106
Oct ’24€9.48
€15.76
+66.3%
25.0%€23.79€11.69€3.967
Sep ’24n/a
€22.25
0%
38.5%€34.73€11.40€3.465
Aug ’24n/a
€26.06
0%
17.6%€34.60€22.19€3.945
Jul ’24n/a
€26.16
0%
17.8%€35.29€22.63€3.745
Jun ’24n/a
€26.81
0%
17.9%€36.24€23.24€4.305
May ’24n/a
€27.43
0%
16.7%€36.43€24.35€4.185
Apr ’24n/a
€28.31
0%
16.6%€37.58€25.11€4.645

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

Discover undervalued companies

Stellantis

€35.9b

Engages in the design, engineering, manufacturing, distribution, and sale of automobiles and light commercial vehicles, engines, transmission systems, metallurgical products, mobility services, and production systems worldwide.

8TI

€12.52

7D

-1.6%

1Y

-33.7%

Valeo

€2.0b

Designs, produces, and sells products and systems for automakers in France, other European countries, Africa, North America, South America, and Asia.

VSA

€3.80

7D

-8.7%

1Y

n/a

Forvia

€1.6b

Manufactures and sells automotive technology solutions in France, Germany, other European countries, the Americas, Asia, and internationally.

FAU

€7.79

7D

-9.6%

1Y

-53.9%