Daqo New Energy Corp.(DQ)Earnings, Financials & Key Ratios
DQ•NYSE
$19.35
$1.31B mkt cap·Price updated May 6, 2026
AboutDaqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufactures in the People's Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp. in August 2009. Daqo New Energy Corp. was founded in 2006 and is based in Shanghai, the People's Republic of China.Show more
- Revenue$665M-35.3%
- EBITDA-$30M+91.5%
- Net Income-$171M+50.6%
- EPS (Diluted)-2.55+51.0%
- Gross Margin-20.72%-0.1%
- EBITDA Margin-4.53%+86.9%
- Operating Margin-40.61%+25.9%
- Net Margin-25.63%+23.6%
- ROE-2.9%+48.4%
- ROIC-4.14%+59.6%
DQ Key Insights
Daqo New Energy Corp. (DQ) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Trading at only 0.2x book value
✗Weaknesses
- ✗Negative free cash flow
- ✗Weak momentum: RS Rating 15 (bottom 15%)
- ✗Trading more than 30% below 52-week high
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
DQ Price & Volume
Daqo New Energy Corp. (DQ) stock price & volume — 10-year historical chart
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DQ Growth Metrics
Daqo New Energy Corp. (DQ) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years13.84%
5 Years-0.3%
3 Years-47.54%
TTM-22.87%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM56.67%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM57.23%
Return on Capital
10 Years20.27%
5 Years23.43%
3 Years-0.65%
Last Year-4.56%
DQ Recent Earnings
Daqo New Energy Corp. (DQ) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 3/12 qtrs (25%)●Beat Revenue 1/12 qtrs (8%)
Q2 2026Latest
Apr 29, 2026EPS
$1.31
Est $0.13
-907.7%
Revenue
$27M
Est $186M
-85.7%
Q1 2026
Feb 26, 2026EPS
$0.11
Est $0.16
+31.3%
Revenue
$222M
Est $274M
-19.0%
Q4 2025
Oct 27, 2025EPS
$0.22
Est $0.61
+63.9%
Revenue
$245M
Est $277M
-11.6%
Q3 2025
Aug 26, 2025EPS
$1.14
Est $1.16
+1.7%
Revenue
$75M
Est $143M
-47.1%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 29, 2026 | $1.31vs $0.13-907.7% | $27Mvs $186M-85.7% |
| Q1 2026 | Feb 26, 2026 | $0.11vs $0.16+31.3% | $222Mvs $274M-19.0% |
| Q4 2025 | Oct 27, 2025 | $0.22vs $0.61+63.9% | $245Mvs $277M-11.6% |
| Q3 2025 | Aug 26, 2025 | $1.14vs $1.16+1.7% | $75Mvs $143M-47.1% |
Based on last 12 quarters of dataView full earnings history →
DQ Peer Comparison
Daqo New Energy Corp. (DQ) competitors in Semiconductor Materials and Fab Consumables — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 RUN | 3.01B | 12.83 | 7.50 | 45.11% | 17.9% | 12.42% | 2.99 | |
 FSLR | 23.42B | 218.00 | 15.34 | 24.09% | 30.73% | 18.01% | 0.05 | |
 CSIQ | 1.13B | 16.88 | -10.89 | -6.65% | -1.86% | -2.47% | 1.80 | |
 JKS | 310.29M | 23.70 | -0.49 | -30.94% | -3.36% | -7.71% | 1.93 | |
 SOL | 99.56M | 1.94 | -8.08 | -12.85% | -7.48% | -1.65% | 0.19 | |
 MAXN | 9.31M | 0.55 | -0.01 | -54.68% | -320.48% | |||
 ARRY | 1.24B | 8.12 | -11.13 | 40.22% | -5.56% | -20.64% | 2.94 | |
 SPWR | 874.51M | 1.03 | -15.40 | 2.92% | -13.21% |
Compare DQ vs Peers
Daqo New Energy Corp. (DQ) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
DQ Income Statement
Daqo New Energy Corp. (DQ) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 352.85M | 301.6M | 349.99M | 675.6M | 1.68B | 4.61B | 2.31B | 1.03B | 665.41M | 568.81M |
| Revenue Growth % | 54.02% | -14.53% | 16.04% | 93.03% | 148.49% | 174.5% | -49.92% | -55.41% | -35.34% | -22.87% |
| Cost of Goods Sold | 209.38M | 203.49M | 269.89M | 441.61M | 581.59M | 1.2B | 1.39B | 1.24B | 803.27M | 764.77M |
| COGS % of Revenue | 59.34% | 67.47% | 77.11% | 65.37% | 34.64% | 26.05% | 60.11% | 120.69% | 120.72% | - |
| Gross Profit | 143.47M▲ 0% | 98.11M▼ 31.6% | 80.1M▼ 18.4% | 233.99M▲ 192.1% | 1.1B▲ 368.9% | 3.41B▲ 210.6% | 920.65M▼ 73.0% | -212.93M▼ 123.1% | -137.85M▲ 35.3% | -195.95M▲ 0% |
| Gross Margin % | 40.66% | 32.53% | 22.89% | 34.63% | 65.36% | 73.95% | 39.89% | -20.69% | -20.72% | -34.45% |
| Gross Profit Growth % | 78.39% | -31.61% | -18.36% | 192.11% | 368.91% | 210.6% | -72.98% | -123.13% | 35.26% | - |
| Operating Expenses | 11.78M | 16.64M | 32.62M | 46.14M | 45.79M | 367.3M | 137.22M | 351.16M | 132.38M | 113.7M |
| OpEx % of Revenue | 3.34% | 5.52% | 9.32% | 6.83% | 2.73% | 7.97% | 5.95% | 34.12% | 19.89% | - |
| Selling, General & Admin | 17.66M | 27.08M | 32.91M | 39.47M | 39.9M | 354.07M | 213.24M | 161.16M | 137.52M | 114.75M |
| SG&A % of Revenue | 5.01% | 8.98% | 9.4% | 5.84% | 2.38% | 7.68% | 9.24% | 15.66% | 20.67% | - |
| Research & Development | 881K | 2.74M | 5.26M | 6.86M | 6.5M | 10.04M | 10.12M | 4.56M | 2.58M | 2.86M |
| R&D % of Revenue | 0.25% | 0.91% | 1.5% | 1.01% | 0.39% | 0.22% | 0.44% | 0.44% | 0.39% | - |
| Other Operating Expenses | -6.77M | -13.18M | -5.55M | -191K | -609K | 3.18M | -86.14M | 185.44M | -7.72M | -2M |
| Operating Income | 128.71M▲ 0% | 81.48M▼ 36.7% | 47.48M▼ 41.7% | 187.85M▲ 295.6% | 1.05B▲ 459.7% | 3.04B▲ 189.2% | 783.43M▼ 74.2% | -564.09M▼ 172.0% | -270.24M▲ 52.1% | -309.65M▲ 0% |
| Operating Margin % | 36.48% | 27.02% | 13.57% | 27.81% | 62.63% | 65.98% | 33.95% | -54.82% | -40.61% | -54.44% |
| Operating Income Growth % | 96.66% | -36.7% | -41.72% | 295.61% | 459.7% | 189.19% | -74.23% | -172% | 52.09% | - |
| EBITDA | 156.29M | 104.1M | 94.91M | 256.54M | 1.13B | 3.15B | 932.32M | -355.51M | -30.11M | -127.92M |
| EBITDA Margin % | 44.29% | 34.52% | 27.12% | 37.97% | 67.24% | 68.3% | 40.4% | -34.55% | -4.53% | -22.49% |
| EBITDA Growth % | 57.46% | -33.39% | -8.83% | 170.31% | 340% | 178.86% | -70.38% | -138.13% | 91.53% | 76.89% |
| D&A (Non-Cash Add-back) | 27.58M | 22.62M | 47.42M | 68.69M | 77.37M | 107.1M | 148.89M | 208.59M | 240.12M | 181.73M |
| EBIT | 128.55M | 84.55M | 47.48M | 187.85M | 1.05B | 3.04B | 783.43M | -388.47M | -270.24M | -283.31M |
| Net Interest Income | -15.8M | -9.53M | -9.41M | -25.73M | -20.48M | 14.47M | 52.3M | 30.22M | 33.09M | 26.65M |
| Interest Income | 464.51K | 1.24M | 983K | 907K | 0 | 14.47M | 52.3M | 30.22M | 33.17M | 26.65M |
| Interest Expense | 16.26M | 10.76M | 10.4M | 26.63M | 20.48M | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -15.8M | -7.69M | -9.6M | -25.73M | -23.77M | -23.87M | 35.04M | 46.03M | 33.12M | 33.84M |
| Pretax Income | 111.19M▲ 0% | 73.79M▼ 33.6% | 37.89M▼ 48.7% | 162.13M▲ 327.9% | 1.03B▲ 533.8% | 3.02B▲ 193.6% | 818.47M▼ 72.9% | -518.06M▼ 163.3% | -237.12M▲ 54.2% | -275.81M▲ 0% |
| Pretax Margin % | 31.51% | 24.47% | 10.82% | 24% | 61.21% | 65.46% | 35.47% | -50.34% | -35.63% | -48.49% |
| Income Tax | 17.33M | 11.72M | 9.62M | 28.18M | 162.81M | 537.11M | 165.59M | -69.91M | -21.09M | -30.44M |
| Effective Tax Rate % | 15.59% | 15.88% | 25.4% | 17.38% | 15.84% | 17.8% | 20.23% | 13.49% | 8.89% | 11.04% |
| Net Income | 92.84M▲ 0% | 38.13M▼ 58.9% | 29.52M▼ 22.6% | 129.19M▲ 337.6% | 748.92M▲ 479.7% | 1.82B▲ 143.0% | 429.55M▼ 76.4% | -345.21M▼ 180.4% | -170.51M▲ 50.6% | -187.34M▲ 0% |
| Net Margin % | 26.31% | 12.64% | 8.44% | 19.12% | 44.61% | 39.49% | 18.61% | -33.55% | -25.63% | -32.94% |
| Net Income Growth % | 113.46% | -58.94% | -22.56% | 337.58% | 479.69% | 142.99% | -76.4% | -180.37% | 50.61% | 56.67% |
| Net Income (Continuing) | 97.68M | 61.8M | 28.26M | 133.95M | 864.85M | 2.48B | 652.89M | -448.15M | -216.08M | -245.38M |
| Discontinued Operations | 0 | 0 | 1.26M | -141K | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 2.79M | 0 | 515K | 31.79M | 501.87M | 1.8B | 1.69B | 1.5B | 1.51B | 1.5B |
| EPS (Diluted) | 1.70▲ 0% | 0.60▼ 64.7% | 0.42▼ 30.0% | 1.70▲ 304.8% | 9.75▲ 473.5% | 23.55▲ 141.5% | 5.75▼ 75.6% | -5.20▼ 190.4% | -2.55▲ 51.0% | -2.77▲ 0% |
| EPS Growth % | 112.5% | -64.71% | -30% | 304.76% | 473.53% | 141.54% | -75.58% | -190.43% | 50.96% | 57.23% |
| EPS (Basic) | 1.75 | 0.60 | 0.43 | 1.80 | 10.15 | 24.00 | 5.75 | -5.20 | -2.55 | - |
| Diluted Shares Outstanding | 54.59M | 65.1M | 69.99M | 75M | 76.75M | 77.29M | 74.96M | 66.16M | 67.55M | 67.67M |
| Basic Shares Outstanding | 53.01M | 62.34M | 67.91M | 71.02M | 73.87M | 75.87M | 74.72M | 66.13M | 67.55M | 67.67M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - |
DQ Balance Sheet
Daqo New Energy Corp. (DQ) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 142.36M | 160.07M | 174.33M | 180.27M | 1.74B | 4.89B | 3.58B | 2.63B | 2.69B | 2.56B |
| Cash & Short-Term Investments | 60.68M | 87.23M | 51.84M | 76.6M | 1B | 3.51B | 3.04B | 2.1B | 2.07B | 1.92B |
| Cash Only | 60.68M | 65.42M | 51.84M | 76.6M | 723.77M | 3.5B | 3.04B | 1.01B | 980.29M | 559.42M |
| Short-Term Investments | 0 | 21.81M | 0 | 0 | 280.25M | 13.93M | 0 | 1.1B | 1.09B | 1.36B |
| Accounts Receivable | 21.49M | 10.11M | 5.67M | 282K | 365.91M | 1.13B | 116.39M | 55.17M | 135.52M | 20.78M |
| Days Sales Outstanding | 22.22 | 12.23 | 5.92 | 0.15 | 79.56 | 89.63 | 18.41 | 19.57 | 74.34 | 58.13 |
| Inventory | 19.6M | 15.45M | 39.3M | 49.24M | 327.77M | 169.52M | 173.27M | 149.94M | 169.1M | 258.28M |
| Days Inventory Outstanding | 34.17 | 27.71 | 53.16 | 40.69 | 205.71 | 51.54 | 45.6 | 44.06 | 76.84 | 85.48 |
| Other Current Assets | 45.51M | 42.94M | 64.44M | 44.58M | 41.88M | 73.8M | 224.65M | 323.07M | 321.14M | 365.92M |
| Total Non-Current Assets | 606.42M | 694.86M | 1.03B | 1.06B | 1.6B | 2.7B | 3.85B | 3.79B | 3.75B | 3.78B |
| Property, Plant & Equipment | 579.13M | 611.62M | 995.22M | 1.03B | 1.56B | 2.61B | 3.63B | 3.5B | 3.4B | 3.4B |
| Fixed Asset Turnover | 0.61x | 0.49x | 0.35x | 0.66x | 1.08x | 1.77x | 0.64x | 0.29x | 0.20x | 0.17x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 25.89M | 22.25M | 29.59M | 30.83M | 40.74M | 80.33M | 150.36M | 152.87M | 155.58M | 157.39M |
| Long-Term Investments | 687K | 650K | 642K | 685K | 0 | 0 | 25.03M | 27.64M | 63.21M | 161.38M |
| Other Non-Current Assets | 0 | 59.52M | 217K | 272K | 820K | 17.6M | 45.05M | 106.98M | 135.31M | 746.33M |
| Total Assets | 748.78M▲ 0% | 854.93M▲ 14.2% | 1.2B▲ 40.5% | 1.24B▲ 3.1% | 3.34B▲ 169.8% | 7.59B▲ 127.1% | 7.43B▼ 2.2% | 6.42B▼ 13.6% | 6.45B▲ 0.4% | 6.34B▲ 0% |
| Asset Turnover | 0.47x | 0.35x | 0.29x | 0.55x | 0.50x | 0.61x | 0.31x | 0.16x | 0.10x | 0.09x |
| Asset Growth % | 14.02% | 14.18% | 40.52% | 3.15% | 169.84% | 127.12% | -2.2% | -13.58% | 0.43% | -18.52% |
| Total Current Liabilities | 216.51M | 149.85M | 445.15M | 284.13M | 550.5M | 736.54M | 836.43M | 521.24M | 497.83M | 425.74M |
| Accounts Payable | 19.31M | 9.2M | 12.71M | 18.95M | 81.47M | 81.88M | 92.88M | 26.45M | 129.66M | 118.89M |
| Days Payables Outstanding | 33.67 | 16.49 | 17.19 | 15.67 | 51.13 | 24.89 | 24.44 | 7.77 | 58.92 | 45.51 |
| Short-Term Debt | 73.78M | 67.42M | 229.78M | 119.79M | 0 | 20.69M | 0 | 6.82M | 0 | 0 |
| Deferred Revenue (Current) | 16.69M | 10.21M | 33.03M | 37.78M | 202.96M | 121.99M | 148.98M | 37.19M | 0 | 68.74M |
| Other Current Liabilities | 99.4M | 36.09M | 5.04M | 4.44M | 0 | 0 | 518.91M | 2K | 368.17M | 32.08M |
| Current Ratio | 0.66x | 1.07x | 0.39x | 0.63x | 3.17x | 6.64x | 4.28x | 5.05x | 5.41x | 5.41x |
| Quick Ratio | 0.57x | 0.97x | 0.30x | 0.46x | 2.57x | 6.41x | 4.07x | 4.76x | 5.07x | 5.07x |
| Cash Conversion Cycle | 22.73 | 23.45 | 41.88 | 25.18 | 234.13 | 116.27 | 39.56 | 55.86 | 92.26 | 98.1 |
| Total Non-Current Liabilities | 137.74M | 179.94M | 189.05M | 156.09M | 129.32M | 252.95M | 142.15M | 39.14M | 31.39M | 23.84M |
| Long-Term Debt | 111.44M | 133.31M | 151.52M | 123.22M | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 175 | 77K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | -24.15M | 1.19M | 6.37M | 3.46M | 16.73M | 80.54M | 10.15M | 544K | 0 | 0 |
| Other Non-Current Liabilities | 3M | 16.72M | 7.9M | 4.24M | 0 | 0 | 18.15M | 0 | 31.39M | 85.92M |
| Total Liabilities | 354.25M | 329.8M | 634.2M | 440.23M | 679.82M | 989.49M | 978.58M | 560.38M | 529.22M | 449.58M |
| Total Debt | 229.76M | 200.73M | 381.46M | 243.09M | 0 | 20.69M | 0 | 6.82M | 0 | 0 |
| Net Debt | 169.09M | 135.31M | 329.62M | 166.49M | -723.77M | -3.48B | -3.04B | -999.71M | -980.29M | -559.42M |
| Debt / Equity | 0.58x | 0.38x | 0.67x | 0.30x | - | 0.00x | - | 0.00x | - | 0.00x |
| Debt / EBITDA | 1.47x | 1.93x | 4.02x | 0.95x | - | 0.01x | - | - | - | -0.00x |
| Net Debt / EBITDA | 1.08x | 1.30x | 3.47x | 0.65x | -0.64x | -1.11x | -3.26x | - | - | 4.37x |
| Interest Coverage | 7.90x | 7.86x | 4.57x | 7.05x | 51.33x | - | - | - | - | - |
| Total Equity | 394.53M▲ 0% | 525.13M▲ 33.1% | 567.16M▲ 8.0% | 798.91M▲ 40.9% | 2.66B▲ 233.4% | 6.6B▲ 147.9% | 6.45B▼ 2.4% | 5.86B▼ 9.2% | 5.92B▲ 1.0% | 5.89B▲ 0% |
| Equity Growth % | 45.19% | 33.1% | 8% | 40.86% | 233.43% | 147.94% | -2.37% | -9.16% | 1% | -11.28% |
| Book Value per Share | 7.23 | 8.07 | 8.10 | 10.65 | 34.71 | 85.45 | 86.02 | 88.54 | 87.59 | 87.04 |
| Total Shareholders' Equity | 391.74M | 525.13M | 566.64M | 767.12M | 2.16B | 4.81B | 4.76B | 4.36B | 4.41B | 4.39B |
| Common Stock | 27K | 33K | 35K | 37K | 38K | 40K | 41K | 42K | 4.41B | 0 |
| Retained Earnings | 133.27M | 171.4M | 200.92M | 330.12M | 1.08B | 2.9B | 3.33B | 2.98B | 0 | 0 |
| Treasury Stock | -1.75M | -1.75M | -1.75M | -1.75M | -1.75M | -126.68M | -612.61M | -617.61M | 0 | 0 |
| Accumulated OCI | 13.11M | -13.23M | -19.94M | 26.27M | 67.77M | -176.03M | -294M | -413.21M | 0 | 0 |
| Minority Interest | 2.79M | 0 | 515K | 31.79M | 501.87M | 1.8B | 1.69B | 1.5B | 1.51B | 1.5B |
DQ Cash Flow Statement
Daqo New Energy Corp. (DQ) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 142.71M | 95.55M | 102.78M | 209.7M | 638.99M | 2.47B | 1.62B | -435.64M | 56.12M | 56.12M |
| Operating CF Margin % | 40.44% | 31.68% | 29.37% | 31.04% | 38.06% | 53.53% | 70.03% | -42.33% | 8.43% | - |
| Operating CF Growth % | 44.63% | -33.04% | 7.57% | 104.03% | 204.71% | 286.07% | -34.49% | -126.96% | 112.88% | 209.69% |
| Net Income | 93.86M | 62.07M | 28.31M | 133.95M | 864.85M | 2.52B | 429.55M | -345.39M | -170.96M | -187.34M |
| Depreciation & Amortization | 38.82M | 27.49M | 47.5M | 68.69M | 77.37M | 107.1M | 148.89M | 206.46M | 248.52M | -58.95M |
| Stock-Based Compensation | 4.2M | 13.79M | 0 | 17.91M | 10.08M | 307.45M | 149.76M | 0 | 0 | 0 |
| Deferred Taxes | -85K | -152K | 4.7M | 0 | 0 | 65.06M | 0 | -92.01M | 0 | 0 |
| Other Non-Cash Items | 3.14M | 17.99M | 19.27M | 3.63M | 5.54M | -40.11M | 39.34M | 258.93M | 52.37M | 416.81M |
| Working Capital Changes | 2.77M | -25.64M | 3M | -14.46M | -318.84M | -492.34M | 848.51M | -463.64M | -73.65M | -189.83M |
| Change in Receivables | 2.11M | -540K | 3.56M | 5.47M | -360.14M | -816.24M | 987.39M | 58.95M | 0 | 0 |
| Change in Inventory | -6.25M | -641K | -19.91M | -5.13M | -280.19M | 138.26M | -26.62M | -59.04M | 0 | 0 |
| Change in Payables | 2.31M | -9.45M | 3.67M | 4.56M | 61.07M | 7M | 13.37M | -64.86M | 0 | 0 |
| Cash from Investing | -63.11M | -164.72M | -261.76M | -118.49M | -781.89M | -1B | -1.2B | -1.48B | -140.69M | -206.33M |
| Capital Expenditures | -67.84M | -143.06M | -286.13M | -118.29M | -498.5M | -1.25B | -1.11B | -369.1M | -179.47M | -150.77M |
| CapEx % of Revenue | 19.23% | 47.44% | 81.75% | 17.51% | 29.69% | 27.14% | 48.13% | 35.87% | 26.97% | - |
| Acquisitions | 0 | 444K | 515.4K | 0 | 0 | -776K | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 4.79M | 617K | 1.46M | -195K | -9.76M | -4.28M | -72.15M | -1.1B | 0 | 1K |
| Cash from Financing | -37.35M | 86.71M | 180.51M | -95.47M | 736.23M | 1.47B | -795.4M | -47.38M | -850K | -8.64M |
| Debt Issued (Net) | -30.85M | -3.82M | 182.37M | -124.14M | -200.87M | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 0 | 113.54M | 792.86K | 0 | 0 | -123.93M | -491.74M | -11.52M | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | -124.93M | -522.13M | -12.66M | 0 | 0 |
| Other Financing | -6.5M | -23.01M | -2.66M | 28.67M | 937.1M | 1.6B | -303.66M | -35.86M | -850K | -8.64M |
| Net Change in Cash | 44.69M▲ 0% | 22.45M▼ 49.8% | 20.42M▼ 9.1% | 3.11M▼ 84.8% | 605.56M▲ 19371.4% | 2.8B▲ 361.8% | -472.39M▼ 116.9% | -2.01B▼ 325.4% | -58.06M▲ 97.1% | -232.51M▲ 0% |
| Free Cash Flow | 74.87M▲ 0% | -47.51M▼ 163.5% | -176.74M▼ 272.0% | 91.41M▲ 151.7% | 130.73M▲ 43.0% | 1.22B▲ 830.5% | 429.2M▼ 64.7% | -794.65M▼ 285.1% | -123.34M▲ 84.5% | -203.37M▲ 0% |
| FCF Margin % | 21.22% | -15.75% | -50.5% | 13.53% | 7.79% | 26.4% | 18.6% | -77.22% | -18.54% | -35.75% |
| FCF Growth % | 140% | -163.46% | -271.99% | 151.72% | 43.01% | 830.48% | -64.72% | -285.15% | 84.48% | 65.8% |
| FCF per Share | 1.37 | -0.73 | -2.53 | 1.22 | 1.70 | 15.74 | 5.73 | -12.01 | -1.83 | -1.83 |
| FCF Conversion (FCF/Net Income) | 1.54x | 2.51x | 3.48x | 1.62x | 0.85x | 1.36x | 3.76x | 1.26x | -0.33x | 1.09x |
| Interest Paid | 16.31M | 10.79M | 0 | 24.7M | 21.16M | 7.93M | 4.72M | 0 | 0 | 0 |
| Taxes Paid | 9.53M | 19.45M | 0 | 12.81M | 108.1M | 350.58M | 289.53M | 0 | 0 | 0 |
DQ Key Ratios
Daqo New Energy Corp. (DQ) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 27.87% | 8.29% | 5.41% | 18.91% | 43.26% | 39.27% | 6.58% | -5.61% | -2.9% | -3.19% |
| Return on Invested Capital (ROIC) | 18.16% | 9.98% | 4.57% | 15.13% | 54.28% | 90.03% | 17.98% | -10.23% | -4.14% | -4.14% |
| Gross Margin | 40.66% | 32.53% | 22.89% | 34.63% | 65.36% | 73.95% | 39.89% | -20.69% | -20.72% | -34.45% |
| Net Margin | 26.31% | 12.64% | 8.44% | 19.12% | 44.61% | 39.49% | 18.61% | -33.55% | -25.63% | -32.94% |
| Debt / Equity | 0.58x | 0.38x | 0.67x | 0.30x | - | 0.00x | - | 0.00x | - | 0.00x |
| Interest Coverage | 7.90x | 7.86x | 4.57x | 7.05x | 51.33x | - | - | - | - | - |
| FCF Conversion | 1.54x | 2.51x | 3.48x | 1.62x | 0.85x | 1.36x | 3.76x | 1.26x | -0.33x | 1.09x |
| Revenue Growth | 54.02% | -14.53% | 16.04% | 93.03% | 148.49% | 174.5% | -49.92% | -55.41% | -35.34% | -22.87% |
DQ Frequently Asked Questions
Daqo New Energy Corp. (DQ) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Daqo New Energy Corp. (DQ) reported $568.8M in revenue for fiscal year 2025.
Daqo New Energy Corp. (DQ) saw revenue decline by 35.3% over the past year.
Daqo New Energy Corp. (DQ) reported a net loss of $187.3M for fiscal year 2025.
Dividend & Returns
Daqo New Energy Corp. (DQ) has a return on equity (ROE) of -2.9%. Negative ROE indicates the company is unprofitable.
Daqo New Energy Corp. (DQ) had negative free cash flow of $203.4M in fiscal year 2025, likely due to heavy capital investments.
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Daqo New Energy Corp. (DQ) financial analysis — history, returns, DCA and operating performance tools
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