Hesai (HSAI) Net Margin (2021 - 2026)
Hesai (HSAI) reported Net Margin of 7.60% for Q3 2026, down 24.43 percentage points from 32.03% a year earlier and down 0.59 percentage points from the prior quarter.
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Analysis
Hesai (HSAI) Net Margin (2021 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Hesai's Net Margin came in at 8.92%, down 6.80 percentage points year-over-year; for FY2025, it came in at 14.40%, up 19.33 percentage points from FY2024.
- Net Margin has increased for four consecutive years, with a five-year change of +40.20 percentage points (FY2020 to FY2025).
- By year, Net Margin came in at -4.93% in FY2024 (+20.43 pp), -25.36% in FY2023 (+36.77 pp), -62.13% in FY2022 (+278.64 pp) and -340.77% in FY2021 (-314.97 pp).
- Five-year quarterly Net Margin spans a low of -33.16% in Q4 2022 and a high of 59.76% in Q2 2022.
- Year over year, Net Margin gained in six of the last eight quarters, with an average year-over-year change of +14.68 percentage points.
- The high point for year-over-year Net Margin in five years was Q4 2024 (a gain of 45.86 percentage points); the low point was Q2 2023 (a drop of 76.65 percentage points).
- Per Business Quant data, the three quarters before Q3 2026 came in at 8.20% (Q2 2026), 2.69% (Q1 2026) and 15.31% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Apple | 5,177.41 Bn | 4,922.87 Bn | 54.82 Bn | 26.83% |
| 2 | Cisco Systems | 377.40 Bn | 377.40 Bn | 11.79 Bn | - |
| 3 | Arista Networks | 249.38 Bn | 198.58 Bn | 2.33 Bn | 42.66% |
| 4 | Dell Technologies | 220.34 Bn | 176.10 Bn | 9.83 Bn | 8.80% |
| 5 | Sony | 166.48 Bn | 103.89 Bn | 7.96 Bn | 13.11% |
| 6 | Sandisk | 127.44 Bn | 112.27 Bn | 9.38 Bn | 73.44% |
| 7 | Seagate Technology Holdings | 121.35 Bn | 116.20 Bn | 2.43 Bn | 41.60% |
| 8 | Western Digital | 110.67 Bn | 100.50 Bn | 2.53 Bn | 40.61% |
| 9 | Hewlett Packard Enterprise | 64.15 Bn | 42.09 Bn | 4.93 Bn | 12.61% |
| 10 | Hesai | 2.25 Bn | -1.27 Bn | 65.36 Mn | 7.60% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 7.60% |
| Jun 30, 2026 | 8.20% |
| Mar 31, 2026 | 2.69% |
| Dec 31, 2025 | 15.31% |
| Sep 30, 2025 | 32.03% |
| Jun 30, 2025 | 6.18% |
| Mar 31, 2025 | -3.34% |
| Dec 31, 2024 | 20.75% |
| Sep 30, 2024 | -13.04% |
| Jun 30, 2024 | -15.70% |
| Mar 31, 2024 | -29.77% |
| Dec 31, 2023 | -25.11% |
| Sep 30, 2023 | -31.82% |
| Jun 30, 2023 | -16.89% |
| Mar 31, 2023 | -27.66% |
| Dec 31, 2022 | -33.16% |
| Sep 30, 2022 | 42.76% |
| Jun 30, 2022 | 59.76% |
| Mar 31, 2022 | 4.67% |
| Dec 31, 2021 | -28.56% |
API Access
Hesai Net Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=net-margin&ticker=HSAI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "ticker": "HSAI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=net-margin&ticker=HSAI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();