Hesai Group

NasdaqGS:HSAI Stock Report

Market Cap: US$574.9m

Hesai Group Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • 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 HSAI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HSAI ($4.51) is trading below our estimate of fair value ($15.93)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for HSAI. This is calculated by dividing HSAI's market cap by their current revenue.
What is HSAI's PS Ratio?
PS Ratio2.3x
SalesCN¥1.82b
Market CapCN¥4.17b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for HSAI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.1x
ECX ECARX Holdings
0.7x17.8%US$562.7m
AXL American Axle & Manufacturing Holdings
0.1x-1.5%US$723.1m
SMP Standard Motor Products
0.5x2.2%US$691.0m
XPEL XPEL
2.9x13.2%US$1.2b
HSAI Hesai Group
2.3x27.3%US$574.9m

Price-To-Sales vs Peers: HSAI is expensive based on its Price-To-Sales Ratio (2.3x) compared to the peer average (1.1x).

Price to Sales Ratio vs Industry

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

15 CompaniesPrice / SalesEstimated GrowthMarket Cap
LEA Lear
0.2x2.4%US$5.05b
GT Goodyear Tire & Rubber
0.1x0.4%US$2.60b
VTSC.Y Vitesco Technologies Group
0.2x-0.8%US$2.00b
ADNT Adient
0.1x0.9%US$1.61b
HSAI 2.3xIndustry Avg. 0.6xNo. of Companies15PS012345+
15 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: HSAI is expensive based on its Price-To-Sales Ratio (2.3x) compared to the US Auto Components industry average (0.6x).

Price to Sales Ratio vs Fair Ratio

What is HSAI'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.

HSAI PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.3x
Fair PS Ratio2.5x

Price-To-Sales vs Fair Ratio: HSAI is good value based on its Price-To-Sales Ratio (2.3x) compared to the estimated Fair Price-To-Sales Ratio (2.5x).

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 HSAI forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$4.51
US$6.88
+52.6%
20.3%US$10.00US$5.31n/a8
Nov ’25US$4.60
US$6.88
+49.7%
20.3%US$10.00US$5.31n/a8
Oct ’25US$4.74
US$6.88
+45.2%
20.3%US$10.00US$5.31n/a8
Sep ’25US$3.95
US$6.88
+74.3%
20.3%US$10.00US$5.31n/a8
Aug ’25US$4.31
US$10.06
+133.5%
37.7%US$16.06US$5.97n/a8
Jul ’25US$4.34
US$10.07
+132.0%
37.5%US$16.11US$5.98n/a8
Jun ’25US$4.86
US$11.00
+126.3%
35.2%US$16.13US$6.00n/a8
May ’25US$4.68
US$11.00
+135.1%
35.2%US$16.13US$5.96n/a8
Apr ’25US$5.23
US$11.04
+111.1%
35.3%US$16.20US$5.99n/a8
Mar ’25US$4.44
US$14.53
+227.2%
20.9%US$18.04US$9.51n/a7
Feb ’25US$4.02
US$14.95
+271.9%
18.6%US$18.17US$9.58n/a7
Jan ’25US$8.91
US$15.99
+79.4%
10.7%US$18.26US$13.09n/a7
Dec ’24US$10.01
US$15.98
+59.6%
10.6%US$18.19US$13.04n/a7
Nov ’24US$9.70
US$15.27
+57.4%
16.3%US$20.01US$12.40US$4.606
Oct ’24US$10.00
US$16.66
+66.6%
25.0%US$25.15US$12.35US$4.747
Sep ’24US$10.50
US$24.20
+130.5%
38.5%US$37.77US$12.40US$3.955
Aug ’24US$12.32
US$28.83
+134.0%
17.6%US$38.28US$24.54US$4.315
Jul ’24US$10.53
US$28.62
+171.8%
17.8%US$38.60US$24.75US$4.345
Jun ’24US$8.03
US$28.83
+259.0%
17.9%US$38.96US$24.98US$4.865
May ’24US$10.34
US$30.17
+191.8%
16.7%US$40.07US$26.78US$4.685
Apr ’24US$15.47
US$30.05
+94.3%
16.6%US$39.89US$26.65US$5.235

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.

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