Hesai Group

HSAINASDAQConsumer Cyclical● Active

$18.49

$-1.76(-8.69%)

Market Cap$2.4B

P/E Ratio—

52W High$30.85

52W Low$14.69

Avg Volume1.9M

Open$19.85

Beta1.34

Overview

Hesai Group (HSAI) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

HSAI · free cash flow · updated Jun 8, 2026

Core FCF metrics

HSAI · FCF · TTM · margin & CAGR

Free cash flow was −$187.1M for FY2025 (fiscal year ending 2025-12-31), up 10.0% year-over-year The FCF margin was -6.2%.

FY2025 Free Cash Flow−$187.1M▲ +10.0% YoY

Trailing 12M (TTM)$0trailing 4 quarters sum

FCF Margin-6.2%−$187.1M ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

HSAI · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$113.8M(301M)−$187.1M▲ +10.0%-6.2%

FY2024$63.5M(271M)−$207.9M▲ +41.8%-10.0%

FY2023$57.3M(415M)−$357.4M▲ +61.8%-19.0%

FY2022−$696.0M(240M)−$936.4M▼ 83.6%-77.9%

FY2021−$228.4M(282M)−$510.0M▼ 19.0%-70.8%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

HSAI · P/FCF · FCF yield · FCF per share

Hesai Group (HSAI) reported negative free cash flow of −$0.19B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)

N/A

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

N/A

TTM FCF ÷ Shares Outstanding

Price / FCF

N/A

Share Price ÷ FCF per Share

EV / FCF (TTM)

N/A

Enterprise Value basis

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

HSAI · cash flow statement · operating / investing / financing

For FY2025, Hesai Group generated $113.8M in operating cash flow and spent 301M in capital expenditures, yielding −$187.1M in free cash flow.

Operating Activities

+$113.8M

Cash from core business operations

2025-12-31

Investing Activities

−$5.40B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$4.23B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($113.8M) − |CapEx| (301M) = FCF (−$187.1M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Consumer Cyclical)

HSAI vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Hesai GroupYOU

HSAI

−$187.1M+10.0%-6.2%

Loss

Toyota Motor Corporation

Alibaba Group Holding Limited

BABA

−$50.72B-164.9%-5.0%

Loss

Consumer Cyclical · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Hesai Group (HSAI) reported free cash flow of −$187.1M for FY2025 (fiscal year ending 2025-12-31), up 10.0% year-over-year. The FCF margin was -6.2%.

Based on available data, Hesai Group has maintained positive free cash flow for at least 1 fiscal year(s). FCF peaked at $6.6M in FY2019.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

HSAI free cash flow · 8 questions

Hesai Group free cash flow was −$187.1M for FY2025, up 10.0% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $0.

HSAI free cash flowHSAI FCFHSAI FCF 2025HSAI free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Hesai Group · Hesai Group SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026