Daqo New Energy Corp. (DQ) Financial Ratios
19 years of historical data (2007–2025) · Technology · Semiconductors
EV/EBITDA
↓
N/A
—
5yr avg: 2.10
30Y Low0.1·High17.4
P/FCF
↓
N/A
—
5yr avg: 10.26
30Y Low0.8·High47.1
P/B Ratio
↓
0.16
↓-67% vs avg
5yr avg: 0.50
30Y Low0.0·High5.4
ROE
↓
-2.9%
↑-118% vs avg
5yr avg: 16.1%
30Y Low-30%·High61%
Debt/EBITDA
N/A
—
5yr avg: 0.01
30Y Low0.0·High4.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
DQ Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Daqo New Energy Corp. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $960M | $2.0B | $1.3B | $2.0B | $3.0B | $3.1B | $4.3B | $717M | $305M | $649M | $204M |
| Enterprise Value | $-20786177 | $1.0B | $286M | $-1044796969 | $-494558116 | $2.4B | $4.5B | $1.0B | $440M | $818M | $432M |
| P/E Ratio → | -5.56 | — | — | 4.63 | 1.64 | 4.14 | 33.74 | 24.38 | 7.80 | 6.99 | 4.82 |
| P/S Ratio | 1.44 | 2.99 | 1.25 | 0.86 | 0.65 | 1.84 | 6.37 | 2.05 | 1.01 | 1.84 | 0.89 |
| P/B Ratio | 0.16 | 0.34 | 0.22 | 0.31 | 0.45 | 1.16 | 5.39 | 1.26 | 0.58 | 1.64 | 0.75 |
| P/FCF | — | — | — | 4.65 | 2.45 | 23.67 | 47.06 | — | — | 8.67 | 6.55 |
| P/OCF | 17.10 | 35.50 | — | 1.23 | 1.21 | 4.84 | 20.52 | 6.97 | 3.19 | 4.55 | 2.07 |
P/E links to full P/E history page with 30-year chart
DQ EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.52 | 0.28 | -0.45 | -0.11 | 1.41 | 6.61 | 2.99 | 1.46 | 2.32 | 1.89 |
| EV / EBITDA | — | — | — | -1.12 | -0.16 | 2.10 | 17.42 | 11.03 | 4.23 | 5.23 | 4.35 |
| EV / EBIT | — | — | — | -1.33 | -0.16 | 2.25 | 23.79 | 22.04 | 5.20 | 6.36 | 7.05 |
| EV / FCF | — | — | — | -2.43 | -0.41 | 18.14 | 48.89 | — | — | 10.93 | 13.85 |
DQ Profitability
Margins and return-on-capital ratios measuring operating efficiency
Daqo New Energy Corp. earns an operating margin of -40.6%. Operating margins have compressed from 33.9% to -40.6% over the past 3 years, signaling potential cost pressures or competitive headwinds. A negative ROE of -2.9% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -20.7% | -20.7% | -20.7% | 39.9% | 74.0% | 65.4% | 34.6% | 22.9% | 32.5% | 40.7% | 35.1% |
| Operating Margin | -40.6% | -40.6% | -54.8% | 33.9% | 66.0% | 62.6% | 27.8% | 13.6% | 27.0% | 36.5% | 28.6% |
| Net Profit Margin | -25.6% | -25.6% | -33.5% | 18.6% | 39.5% | 44.6% | 19.1% | 8.4% | 12.6% | 26.3% | 19.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -2.9% | -2.9% | -5.6% | 6.6% | 39.3% | 43.3% | 18.9% | 5.4% | 8.3% | 27.9% | 16.9% |
| ROA | -2.7% | -2.7% | -5.0% | 5.7% | 33.3% | 32.7% | 10.6% | 2.9% | 4.8% | 13.2% | 6.6% |
| ROIC | -4.1% | -4.1% | -10.2% | 18.0% | 90.0% | 54.3% | 15.1% | 4.6% | 10.0% | 18.2% | 9.9% |
| ROCE | -4.6% | -4.6% | -9.0% | 11.7% | 63.0% | 56.1% | 22.0% | 6.5% | 13.2% | 27.4% | 16.5% |
DQ Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $980M exceeds total debt of $0, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.00 | — | 0.00 | — | 0.30 | 0.67 | 0.38 | 0.58 | 0.90 |
| Debt / EBITDA | — | — | — | — | 0.01 | — | 0.95 | 4.02 | 1.93 | 1.47 | 2.45 |
| Net Debt / Equity | — | -0.17 | -0.17 | -0.47 | -0.53 | -0.27 | 0.21 | 0.58 | 0.26 | 0.43 | 0.84 |
| Net Debt / EBITDA | — | — | — | -3.26 | -1.11 | -0.64 | 0.65 | 3.47 | 1.30 | 1.08 | 2.29 |
| Debt / FCF | — | — | — | -7.08 | -2.86 | -5.54 | 1.82 | — | — | 2.26 | 7.30 |
| Interest Coverage | — | — | — | — | — | 51.33 | 7.05 | 4.57 | 7.86 | 7.90 | 4.82 |
Net cash position: cash ($980M) exceeds total debt ($0)
DQ Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Daqo New Energy Corp.'s current ratio of 5.41x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 5.07x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 4.28x to 5.41x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.41 | 5.41 | 5.05 | 4.28 | 6.64 | 3.17 | 0.63 | 0.39 | 1.07 | 0.66 | 0.29 |
| Quick Ratio | 5.07 | 5.07 | 4.76 | 4.07 | 6.41 | 2.57 | 0.46 | 0.30 | 0.97 | 0.57 | 0.24 |
| Cash Ratio | 4.15 | 4.15 | 4.04 | 3.63 | 4.77 | 1.82 | 0.27 | 0.12 | 0.58 | 0.28 | 0.06 |
| Asset Turnover | — | 0.10 | 0.16 | 0.31 | 0.61 | 0.50 | 0.55 | 0.29 | 0.35 | 0.47 | 0.35 |
| Inventory Turnover | 4.75 | 4.75 | 8.28 | 8.01 | 7.08 | 1.77 | 8.97 | 6.87 | 13.17 | 10.68 | 12.11 |
| Days Sales Outstanding | — | 74.34 | 19.57 | 18.41 | 89.63 | 79.56 | 0.15 | 5.92 | 12.23 | 22.22 | 30.89 |
DQ Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Daqo New Energy Corp. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 21.6% | 61.0% | 24.2% | 3.0% | 4.1% | 12.8% | 14.3% | 20.7% |
| FCF Yield | — | — | — | 21.5% | 40.8% | 4.2% | 2.1% | — | — | 11.5% | 15.3% |
| Buyback Yield | 0.0% | 0.0% | 1.0% | 26.2% | 4.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 1.0% | 26.2% | 4.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $68M | $66M | $75M | $77M | $77M | $75M | $70M | $65M | $55M | $53M |
Peer Comparison
Compare DQ with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 DQYou | $960M | -5.6 | — | — | -20.7% | -40.6% | -2.9% | -4.1% | — |
 RUN | $3B | 7.9 | 24.3 | — | 26.8% | -4.3% | 9.8% | -0.5% | 21.4 |
 FSLR | $28B | 18.1 | 11.5 | 23.3 | 40.6% | 32.3% | 17.4% | 17.6% | 0.2 |
 CSIQ | $1B | -10.5 | 11.5 | — | 18.3% | 0.8% | -2.5% | 0.4% | 12.8 |
 JKS | $254M | -0.4 | — | — | 2.2% | -11.1% | -14.0% | -9.2% | — |
 SOL | $100M | -8.1 | 17.6 | — | 26.2% | -0.5% | -3.6% | -0.1% | 9.9 |
 MAXN | $6M | -0.0 | — | — | -49.0% | -113.3% | — | -351.1% | — |
 ARRY | $1B | -11.0 | 13.3 | 15.4 | 21.2% | 6.6% | -19.0% | 9.0% | 5.8 |
 SPWR | $128M | -11.7 | — | — | 48.5% | -2.0% | — | -5.3% | — |
 ENPH | $7B | 40.5 | 31.2 | 71.8 | 46.6% | 11.2% | 17.9% | 6.8% | 5.1 |
 SEDG | $4B | -8.4 | — | 43.7 | 15.3% | -24.1% | -74.7% | -29.5% | — |
| Technology Median | — | 29.0 | 16.7 | 19.2 | 48.8% | 0.2% | 1.6% | 2.7% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 19 years · Updated daily
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DQ — Frequently Asked Questions
Quick answers to the most common questions about buying DQ stock.
What is Daqo New Energy Corp.'s P/E ratio?
Daqo New Energy Corp.'s current P/E ratio is -5.6x. The historical average is 9.7x.
What is Daqo New Energy Corp.'s ROE?
Daqo New Energy Corp.'s return on equity (ROE) is -2.9%. The historical average is 12.9%.
Is DQ stock overvalued?
Based on historical data, Daqo New Energy Corp. is trading at a P/E of -5.6x. Compare with industry peers and growth rates for a complete picture.
What are Daqo New Energy Corp.'s profit margins?
Daqo New Energy Corp. has -20.7% gross margin and -40.6% operating margin.