Hesai (HSAI) Gross Margin (2021 - 2026)
Hesai's (HSAI) quarterly Gross Margin came in at 39.09% in Q1 2026, down 265.0% YoY from 23.69% in Q1 2025, and down 4.73% on a QoQ basis from 41.03% in Q4 2025.
Hesai (HSAI) Gross Margin (2021 - 2026) Analysis & Trends
Hesai (HSAI) has 6 years of Gross Margin data on file, last reported at 39.09% in Q1 2026.
- Quarterly Gross Margin fell 265.0% year-over-year to 39.09% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 41.2% (down 184.0% YoY) and the FY2025 annual result came in at 41.79%, down 80.0% from the prior year.
- Gross Margin retreated to 39.09% in Q1 2026, from 41.03% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 50.91% in Q1 2022 to a low of 28.77% in Q2 2023.
- A 5-year average of 40.01% and a median of 41.03% in 2025 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2022 — Gross Margin tumbled 2241 bps — and 2024, when it soared 1719 bps.
- Tracing HSAI's Gross Margin over 5 years: stood at 30.02% in 2022, then surged by 37 bps to 41.25% in 2023, then declined by 5 bps to 39.05% in 2024, then climbed by 5 bps to 41.03% in 2025, then decreased by 5 bps to 39.09% in 2026.
- The last three Gross Margin figures came in at 39.09% (Q1 2026), 41.03% (Q4 2025), and 42.1% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | O Reilly Automotive | 73.54 Bn | 73.28 Bn | 2.52 Bn | 51.45% |
| 2 | Autozone | 48.78 Bn | 48.52 Bn | 2.52 Bn | 52.15% |
| 3 | Magna International | 19.33 Bn | 17.90 Bn | 1.61 Bn | 14.68% |
| 4 | Genuine Parts | 18.26 Bn | 17.70 Bn | 2.47 Bn | 37.80% |
| 5 | Borgwarner | 13.15 Bn | 10.70 Bn | 721.00 Mn | 19.76% |
| 6 | Allison Transmission Holdings | 10.71 Bn | 10.31 Bn | 515.00 Mn | 32.89% |
| 7 | Modine Manufacturing | 10.08 Bn | 10.00 Bn | - | - |
| 8 | Aptiv | 9.95 Bn | 9.19 Bn | 775.00 Mn | 23.67% |
| 9 | Autoliv | 9.00 Bn | 8.63 Bn | 509.00 Mn | 18.16% |
| 10 | Hesai | 2.60 Bn | 2.60 Bn | 38.57 Mn | 39.09% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 39.09% |
| Dec 31, 2025 | 41.03% |
| Sep 30, 2025 | 42.10% |
| Jun 30, 2025 | 42.54% |
| Mar 31, 2025 | 41.74% |
| Dec 31, 2024 | 39.05% |
| Sep 30, 2024 | 47.74% |
| Jun 30, 2024 | 45.07% |
| Mar 31, 2024 | 38.77% |
| Dec 31, 2023 | 41.25% |
| Sep 30, 2023 | 30.55% |
| Jun 30, 2023 | 28.77% |
| Mar 31, 2023 | 37.68% |
| Dec 31, 2022 | 30.02% |
| Sep 30, 2022 | 37.06% |
| Jun 30, 2022 | 46.84% |
| Mar 31, 2022 | 50.91% |
| Dec 31, 2021 | 52.43% |