HSAI
Valuation Ratios
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Price to Earnings | -17.49 | -2.34 | ||
| Price to Sales | 0.86 | 0.59 | ||
| Book Value Per Common Share | 29.98 | 30.41 | -25.05 | -19.84 |
| Price to Book | 0.46 | 0.29 | ||
| Price to Operating Cash Flow | 28.11 | 19.42 | ||
| Price to Free Cash Flow | -8.59 | -3.11 | ||
| Enterprise Value to EBITDA | 417570.45 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Price to Earnings | 14.95 | 66.52 | -111.70 | 12.23 | -8.69 |
| Price to Sales | 4.82 | 4.11 | 3.73 | 2.50 | 1.13 |
| Book Value Per Common Share | 56.62 | 32.78 | 32.29 | 29.98 | 28.38 |
| Price to Book | 0.50 | 0.67 | 0.46 | 0.46 | 0.17 |
| Price to Operating Cash Flow | -55.37 | ||||
| Price to Free Cash Flow | -55.37 | ||||
| Enterprise Value to EBITDA | 152878.04 | 574827.10 | 119860.13 |
Earnings Data
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Earning YoY | ||||
| Revenue YoY | 10.66 | 56.07 | 66.86 | |
| EBITDA YoY | ||||
| Net Profit YoY |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Earning YoY | 469.70 | ||||
| Revenue YoY | 12.60 | 34.47 | -27.02 | 33.43 | |
| EBITDA YoY | 465.59 | ||||
| Net Profit YoY | 481.08 |
Financial Strength
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Cash Per Common Share | 24.78 | 25.17 | 14.81 | 26.59 |
| Quick Ratio | 2.48 | 2.78 | 2.48 | 3.40 |
| Current Ratio | 2.87 | 3.29 | 3.28 | 3.92 |
| Debt to Equity | 0.52 | 0.47 | 0.35 | 0.30 |
| Long-Term Debt to Equity | 0.11 | 0.12 | 0.01 | 0.00 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Cash Per Common Share | 54.00 | 21.48 | 21.57 | 24.55 | 19.46 |
| Quick Ratio | 5.19 | 2.60 | 3.43 | 2.48 | 2.48 |
| Current Ratio | 5.75 | 3.18 | 4.06 | 2.87 | 3.08 |
| Debt to Equity | 0.23 | 0.44 | 0.36 | 0.52 | 0.49 |
| Long-Term Debt to Equity | 0.05 | 0.09 | 0.10 | 0.11 | 0.12 |
Profitability
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| ROA | -1.71 | -8.41 | -19.46 | -62.14 |
| ROE | -2.60 | -12.32 | -26.29 | -80.53 |
| Gross Margin | 42.59 | 35.24 | 39.24 | 52.97 |
| Operating Margin | -4.26 | -25.16 | -25.01 | -34.11 |
| EBITDA Margin | 2.09 | -20.56 | -20.55 | -30.19 |
| Net Profit Margin | -4.93 | -25.36 | -62.13 | -340.77 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| ROA | 2.35 | 0.70 | -0.30 | 2.45 | -1.27 |
| ROE | 2.90 | 1.01 | -0.41 | 3.74 | -1.89 |
| Gross Margin | 42.10 | 42.54 | 41.74 | 39.05 | 47.74 |
| Operating Margin | 36.08 | 7.18 | -2.40 | 21.01 | -12.40 |
| EBITDA Margin | 36.08 | 7.18 | -2.40 | 21.01 | -12.40 |
| Net Profit Margin | 32.21 | 6.24 | -3.34 | 20.42 | -13.04 |
Dividends
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Dividend Yield | 0.00 | |||
| Dividend Payout Ratio | -3.68 | -20.67 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Dividend Yield | |||||
| Dividend Payout Ratio |
Financial Statements
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Assets | 5,989,611.00 | 5,662,543.00 | 3,839,396.00 | 3,952,369.00 |
| Current Assets | 4,682,656.00 | 4,397,609.00 | 3,135,111.00 | 3,493,359.00 |
| Cash and Short-Term Investments | 3,201,161.00 | 3,140,588.00 | 1,859,142.00 | 2,792,095.00 |
| Cash and Cash Equivalents | 2,838,966.00 | 1,554,583.00 | 913,277.00 | 449,352.00 |
| Short-Term Investments | 362,195.00 | 1,586,005.00 | 945,865.00 | 2,342,743.00 |
| Net Receivables | 830,784.00 | 571,409.00 | 509,413.00 | 245,261.00 |
| Inventory | 482,137.00 | 495,877.00 | 646,852.00 | 376,244.00 |
| Other Current Assets | 168,574.00 | 189,735.00 | 119,704.00 | 79,759.00 |
| Non-Current Assets | 1,306,955.00 | 1,264,934.00 | 704,285.00 | 459,010.00 |
| Property, Plant, Equipment Net | 1,148,325.00 | 1,101,078.00 | 595,385.00 | 376,834.00 |
| Goodwill | 0 | 0 | 3,823.00 | 3,499.00 |
| Intangible Assets | 116,433.00 | 119,473.00 | 62,206.00 | 62,023.00 |
| Long-Term Investments | 31,798.00 | 31,811.00 | 31,856.00 | 1,902.00 |
| Non-Current Deferred Assets | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 12,572.00 | 11,015.00 | 14,752.00 |
| Liabilities | 2,057,880.00 | 1,800,225.00 | 997,663.00 | 902,548.00 |
| Current Liabilities | 1,628,940.00 | 1,335,101.00 | 955,538.00 | 892,158.00 |
| Payables and Expenses | 1,221,571.00 | 1,097,774.00 | 875,223.00 | 763,974.00 |
| Account Payables | 345,011.00 | 269,439.00 | 206,681.00 | 77,271.00 |
| Current Accrued Liabilities | 155,484.00 | 93,584.00 | 59,252.00 | 26,730.00 |
| Short-Term Debt | 371,452.00 | 153,930.00 | 34,975.00 | 0 |
| Other Current Liabilities | 35,917.00 | 83,397.00 | 45,340.00 | 0 |
| Non-Current Liabilities | 428,940.00 | 465,124.00 | 42,125.00 | 10,390.00 |
| Long-Term Debt | 367,808.00 | 405,311.00 | 28,611.00 | 0 |
| Other Non-Current Liabilities | 61,132.00 | 59,813.00 | 13,514.00 | 10,390.00 |
| Equity | 3,931,731.00 | 3,862,318.00 | 2,841,733.00 | 3,049,821.00 |
| Shareholders Equity | 3,931,731.00 | 3,862,318.00 | -3,145,177.00 | -2,490,670.00 |
| Capital Stock | 89.00 | 86.00 | 39.00 | 39.00 |
| Share Premium | 7,577,113.00 | 7,423,862.00 | 0 | 0 |
| Retained Earnings | -3,409,725.00 | -3,307,349.00 | -2,831,381.00 | -2,188,947.00 |
| Treasury Shares | 0 | 0 | 0 | 0 |
| Accumulated Other Comprehensive Income | 56,975.00 | 38,440.00 | -3,608.00 | 8,465.00 |
| Minority Interest | 0 | 0 | 5,986,910.00 | 5,540,491.00 |
| Debt | 739,260.00 | 559,241.00 | 63,586.00 | 0 |
| Common Shares Outstanding | 131,159.71 | 127,028.49 | 125,534.59 | 125,534.59 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Revenues | 2,077,157.00 | 1,876,989.00 | 1,202,670.00 | 720,768.00 |
| Cost Of Revenue | 1,192,572.00 | 1,215,611.00 | 730,683.00 | 338,972.00 |
| Interest Income | 104,401.00 | 99,813.00 | 58,734.00 | 32,584.00 |
| Interest Expense | 12,827.00 | 3,069.00 | 0 | 0 |
| Non-Interest Expense | 509,945.00 | 468,942.00 | 305,842.00 | 305,979.00 |
| Gross Profit | 884,585.00 | 661,378.00 | 471,987.00 | 381,796.00 |
| Operating Expenses | 1,089,493.00 | 1,232,969.00 | 850,204.00 | 647,081.00 |
| Selling, General and Administrative Expenses | 509,945.00 | 468,942.00 | 305,842.00 | 305,979.00 |
| Research and Development Expenses | 855,641.00 | 790,547.00 | 555,179.00 | 368,435.00 |
| Other Operating Expenses | -276,093.00 | -26,520.00 | -10,817.00 | -27,333.00 |
| Operating Income | -204,908.00 | -571,591.00 | -378,217.00 | -265,285.00 |
| Net Non-Operating Income | -2,476.00 | 34.00 | -2,161.00 | 118.00 |
| EBT | -101,233.00 | -475,265.00 | -300,786.00 | -245,858.00 |
| Income Tax | 1,130.00 | 658.00 | -66.00 | -1,115.00 |
| Net Income Including Non-Controlling Interests | -102,376.00 | -475,968.00 | -300,765.00 | -244,827.00 |
| Net Income | -102,376.00 | -475,968.00 | -747,184.00 | -2,456,157.00 |
| EBIT | -88,406.00 | -472,196.00 | -300,786.00 | -245,858.00 |
| Deprecation and Amortization | 131,809.00 | 86,268.00 | 53,634.00 | 28,231.00 |
| EBITDA | 43,403.00 | -385,928.00 | -247,152.00 | -217,627.00 |
| EPS | -0.00 | -0.00 | -0.01 | -0.02 |
| Diluted EPS | -0.00 | -0.00 | -0.01 | -0.02 |
| Average Shares Outstanding Basic | 129,188.12 | 124,783.01 | 125,534.59 | 104,987.48 |
| Average Shares Outstanding Diluted | 129,188.12 | 124,783.01 | 125,534.59 | 104,987.48 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Operating Cash Flow | 63,503.00 | 57,261.00 | -696,015.00 | -228,386.00 |
| Operating Net Income | -102,376.00 | -475,968.00 | -300,765.00 | -244,827.00 |
| Deprecation and Amortization | 131,809.00 | 86,268.00 | 53,634.00 | 28,231.00 |
| Deferred Income Tax | 0 | 0 | 0 | 0 |
| Share Based Compensation | 116,064.00 | 234,624.00 | 105,219.00 | 54,283.00 |
| Change in Working Capital | -136,322.00 | 146,876.00 | -621,408.00 | -88,715.00 |
| Other Operating Activities | 54,328.00 | 65,461.00 | 67,305.00 | 22,642.00 |
| Investing Cash Flow | 955,876.00 | -1,060,393.00 | 1,119,646.00 | -1,980,237.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | -259,541.00 | -406,748.00 | -231,210.00 | -220,074.00 |
| Net Purchase/Sale of Investments Net | 1,227,234.00 | -621,566.00 | 1,362,000.00 | -1,698,655.00 |
| Net Purchase/Sale of Business | 0 | -40,047.00 | 0 | 0 |
| Other Investing Activities | -11,817.00 | 7,968.00 | -11,144.00 | -61,508.00 |
| Financing Cash Flow | 250,675.00 | 1,590,356.00 | 15,176.00 | 2,403,726.00 |
| Net Issuance/Repayment of Debt | 216,536.00 | 376,592.00 | 18,472.00 | 1,950,338.00 |
| Net Issuance/Repurchase of Equity | 0 | 1,225,470.00 | 0 | 453,978.00 |
| Dividends Paid | 0 | -17,506.00 | 0 | -507,620.00 |
| Other Financing Activities | 34,139.00 | 5,800.00 | -3,296.00 | 507,030.00 |
| Net Change in Cash | 1,270,054.00 | 587,224.00 | 438,807.00 | 195,103.00 |
| Cash at Beginning of Period | 1,558,124.00 | 913,277.00 | 449,352.00 | 256,688.00 |
| Cash at End of Period | 2,842,560.00 | 1,558,124.00 | 913,277.00 | 449,352.00 |
| Free Cash Flow | -207,855.00 | -357,412.00 | -936,405.00 | -509,990.00 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Assets | 10,912,702.00 | 6,262,085.00 | 5,827,382.00 | 5,989,611.00 | 5,557,184.00 |
| Current Assets | 9,525,014.00 | 4,822,268.00 | 4,555,906.00 | 4,682,656.00 | 4,250,429.00 |
| Cash and Short-Term Investments | 7,364,782.00 | 2,844,859.00 | 2,857,087.00 | 3,201,161.00 | 2,527,209.00 |
| Cash and Cash Equivalents | 2,563,508.00 | 2,734,345.00 | 2,826,605.00 | 2,838,966.00 | 2,162,451.00 |
| Short-Term Investments | 4,801,274.00 | 110,514.00 | 30,482.00 | 362,195.00 | 364,758.00 |
| Net Receivables | 1,232,558.00 | 1,100,301.00 | 993,168.00 | 830,784.00 | 889,000.00 |
| Inventory | 642,760.00 | 599,252.00 | 489,974.00 | 482,137.00 | 591,615.00 |
| Other Current Assets | 284,914.00 | 277,856.00 | 215,677.00 | 168,574.00 | 242,605.00 |
| Non-Current Assets | 1,387,688.00 | 1,439,817.00 | 1,271,476.00 | 1,306,955.00 | 1,306,755.00 |
| Property, Plant, Equipment Net | 1,145,881.00 | 1,107,011.00 | 1,062,214.00 | 1,148,325.00 | 1,056,947.00 |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 132,455.00 | 129,291.00 | 119,426.00 | 116,433.00 | 123,636.00 |
| Long-Term Investments | 30,000.00 | 131,776.00 | 31,787.00 | 31,798.00 | 31,811.00 |
| Non-Current Deferred Assets | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 0 |
| Liabilities | 2,072,312.00 | 1,906,851.00 | 1,550,248.00 | 2,057,880.00 | 1,834,554.00 |
| Current Liabilities | 1,655,147.00 | 1,515,832.00 | 1,122,351.00 | 1,628,940.00 | 1,378,234.00 |
| Payables and Expenses | 1,022,152.00 | 885,435.00 | 761,125.00 | 1,221,571.00 | 1,053,056.00 |
| Account Payables | 461,669.00 | 461,879.00 | 346,867.00 | 345,011.00 | 235,706.00 |
| Current Accrued Liabilities | 532,931.00 | 423,556.00 | 408,923.00 | 155,484.00 | 485,930.00 |
| Short-Term Debt | 593,909.00 | 598,728.00 | 334,248.00 | 371,452.00 | 267,017.00 |
| Other Current Liabilities | 39,086.00 | 31,669.00 | 26,978.00 | 35,917.00 | 58,161.00 |
| Non-Current Liabilities | 417,165.00 | 391,019.00 | 427,897.00 | 428,940.00 | 456,320.00 |
| Long-Term Debt | 387,119.00 | 350,748.00 | 370,084.00 | 367,808.00 | 402,554.00 |
| Other Non-Current Liabilities | 30,046.00 | 40,271.00 | 57,813.00 | 61,132.00 | 53,766.00 |
| Equity | 8,840,390.00 | 4,355,234.00 | 4,277,134.00 | 3,931,731.00 | 3,722,630.00 |
| Shareholders Equity | 8,840,390.00 | 4,355,234.00 | 4,277,134.00 | 3,931,731.00 | 3,722,630.00 |
| Capital Stock | 107.00 | 90.00 | 90.00 | 89.00 | 88.00 |
| Share Premium | 11,896,873.00 | 7,651,112.00 | 7,615,445.00 | 7,577,113.00 | 7,536,450.00 |
| Retained Earnings | -3,127,015.00 | -3,383,188.00 | -3,427,274.00 | -3,409,725.00 | -3,556,688.00 |
| Treasury Shares | 0 | 0 | 0 | 0 | 0 |
| Accumulated Other Comprehensive Income | 70,425.00 | 87,220.00 | 88,873.00 | 56,975.00 | 35,501.00 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| Debt | 981,028.00 | 949,476.00 | 334,248.00 | 739,260.00 | 669,571.00 |
| Common Shares Outstanding | 156,142.21 | 132,876.19 | 132,467.66 | 131,159.71 | 131,159.71 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Revenues | 795,395.00 | 706,388.00 | 525,302.00 | 719,758.00 | 539,417.00 |
| Cost Of Revenue | 460,496.00 | 405,910.00 | 306,067.00 | 438,725.00 | 281,913.00 |
| Interest Income | 27,993.00 | 20,967.00 | 20,521.00 | 22,495.00 | 25,514.00 |
| Interest Expense | 3,234.00 | 6,545.00 | 5,007.00 | 3,650.00 | 3,557.00 |
| Non-Interest Expense | 117,018.00 | 106,031.00 | 104,633.00 | 154,582.00 | 122,741.00 |
| Gross Profit | 334,899.00 | 300,478.00 | 219,235.00 | 281,033.00 | 257,504.00 |
| Operating Expenses | 257,533.00 | 277,626.00 | 252,683.00 | 174,484.00 | 334,730.00 |
| Selling, General and Administrative Expenses | 117,018.00 | 106,031.00 | 104,633.00 | 154,582.00 | 122,741.00 |
| Research and Development Expenses | 198,862.00 | 199,219.00 | 183,306.00 | 242,382.00 | 220,248.00 |
| Other Operating Expenses | -58,347.00 | -27,624.00 | -35,256.00 | -222,480.00 | -8,259.00 |
| Operating Income | 77,366.00 | 22,852.00 | -33,448.00 | 106,549.00 | -77,226.00 |
| Net Non-Operating Income | 172,867.00 | -19.00 | -694.00 | -1,070.00 | -1,477.00 |
| EBT | 283,724.00 | 44,191.00 | -17,604.00 | 147,558.00 | -70,441.00 |
| Income Tax | 27,500.00 | 94.00 | -67.00 | 583.00 | -68.00 |
| Net Income Including Non-Controlling Interests | 256,173.00 | 44,086.00 | -17,549.00 | 146,963.00 | -70,355.00 |
| Net Income | 256,173.00 | 44,086.00 | -17,549.00 | 146,963.00 | -70,355.00 |
| EBIT | 286,958.00 | 50,736.00 | -12,597.00 | 151,208.00 | -66,884.00 |
| EBITDA | 286,958.00 | 50,736.00 | -12,597.00 | 151,208.00 | -66,884.00 |
| EPS | 0.00 | 0.00 | -0.00 | 0.00 | -0.00 |
| Diluted EPS | 0.00 | 0.00 | -0.00 | 0.00 | -0.00 |
| Average Shares Outstanding Basic | 136,387.50 | 132,413.85 | 132,467.66 | 130,414.18 | 129,897.74 |
| Average Shares Outstanding Diluted | 143,508.06 | 139,194.20 | 132,467.66 | 135,612.04 | 129,897.74 |
| Breakdown | 2025-03-31 | 2024-03-31 |
|---|---|---|
| Operating Cash Flow | -35,411.00 | -256,990.00 |
| Operating Net Income | 0 | 0 |
| Deprecation and Amortization | 0 | 0 |
| Deferred Income Tax | 0 | 0 |
| Share Based Compensation | 0 | 0 |
| Change in Working Capital | 0 | 0 |
| Other Operating Activities | -35,411.00 | -256,990.00 |
| Investing Cash Flow | 36,825.00 | 267,227.00 |
| Capital Expenditure | 0 | 0 |
| Net Purchase/Sale of PPE | 0 | 0 |
| Net Purchase/Sale of Investments Net | 0 | 0 |
| Net Purchase/Sale of Business | 0 | 0 |
| Other Investing Activities | 36,825.00 | 267,227.00 |
| Financing Cash Flow | -3,065.00 | -22,242.00 |
| Net Issuance/Repayment of Debt | 0 | 0 |
| Net Issuance/Repurchase of Equity | 0 | 0 |
| Dividends Paid | 0 | 0 |
| Other Financing Activities | -3,065.00 | -22,242.00 |
| Net Change in Cash | -1,651.00 | -12,005.00 |
| Cash at Beginning of Period | 391,715.00 | 2,842,560.00 |
| Cash at End of Period | 390,012.00 | 2,830,194.00 |
| Free Cash Flow | -35,411.00 | -256,990.00 |