Hesai (HSAI) Operating Margin (2021 - 2026)
Hesai's (HSAI) quarterly Operating Margin came in at 0.26% in Q2 2026, down 298.0% on a YoY basis from 0.13% in Q2 2025, and up 120.3% quarter-over-quarter from 1.26% in Q1 2026.
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Hesai (HSAI) Operating Margin (2021 - 2026) Analysis & Trends
Hesai (HSAI) has reported Operating Margin for 6 consecutive years, with 0.26% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Margin fell 298.0% year-over-year to 0.26%; the trailing twelve-month figure through Jun 2026 stood at 5.11% (up 448.0% YoY), and the FY2025 full-year result was 5.57%, up 1544.0% from the prior year.
- Operating Margin grew to 0.26% in Q2 2026 per HSAI's latest filing, from 1.26% in the prior quarter.
- Across five years, Operating Margin topped out at 14.8% in Q4 2024 and bottomed at 44.67% in Q2 2022.
- Historically, Operating Margin has averaged 16.2% across 5 years, with a median of 18.82% in 2022.
- The sharpest annual moves came in 2023 and 2024: Operating Margin plunged 1301 bps in 2023, then surged 4382 bps in 2024.
- Over 5 years, Operating Margin stood at 34.24% in 2022, then grew by 15 bps to 29.02% in 2023, then soared by 151 bps to 14.8% in 2024, then slumped by 31 bps to 10.19% in 2025, then slumped by 97 bps to 0.26% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 0.26%, 1.26%, and 10.19% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Lumentum Holdings | 69.98 Bn | 67.24 Bn | 477.30 Mn | 27.76% |
| 2 | Coherent | 52.26 Bn | 50.27 Bn | 787.08 Mn | -47.91% |
| 3 | Zebra Technologies | 16.52 Bn | 16.36 Bn | 825.00 Mn | 20.62% |
| 4 | Littelfuse | 10.48 Bn | 9.86 Bn | 306.06 Mn | 16.21% |
| 5 | Vishay Intertechnology | 4.26 Bn | 2.96 Bn | 207.38 Mn | 6.02% |
| 6 | LG Display | 3.15 Bn | 2.08 Bn | 509.35 Mn | -1.92% |
| 7 | Knowles | 3.04 Bn | 2.99 Bn | 74.60 Mn | 14.81% |
| 8 | Bel Fuse | 2.75 Bn | 2.44 Bn | 83.97 Mn | 18.24% |
| 9 | Hesai | 2.42 Bn | 1.44 Bn | 50.88 Mn | 0.26% |
| 10 | Ouster | 2.33 Bn | 2.07 Bn | 26.69 Mn | -36.69% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 0.26% |
| Mar 31, 2026 | -1.26% |
| Dec 31, 2025 | 10.19% |
| Sep 30, 2025 | 9.73% |
| Jun 30, 2025 | 3.24% |
| Mar 31, 2025 | -6.37% |
| Dec 31, 2024 | 14.80% |
| Sep 30, 2024 | -14.32% |
| Jun 30, 2024 | -20.87% |
| Mar 31, 2024 | -38.55% |
| Dec 31, 2023 | -29.02% |
| Sep 30, 2023 | -37.54% |
| Jun 30, 2023 | -25.78% |
| Mar 31, 2023 | -29.77% |
| Dec 31, 2022 | -34.24% |
| Sep 30, 2022 | -30.59% |
| Jun 30, 2022 | -44.67% |
| Mar 31, 2022 | -16.77% |
| Dec 31, 2021 | -32.49% |