Saturday 17 October 2026
Export DQ’s income statement to Excel — free account
DAQO New Energy Corp.
DQ Technology Solar
DAQO New Energy Corp.’s revenue for fiscal 2025 (year ended December 2025) was $665.4 million, down 35.3% from fiscal 2024. In the quarter to June 2026, revenue fell 16.7%, EPS fell 5.26% and free cash flow fell 60.4%, each against the same quarter a year earlier.
10.23
0.42
−3.94%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
5 | 3 | 5 | 8 | 7 | 8 | 4 | 4 | 8 | 7 |
P/E ratio |
0.00 | 0.00 | 4.61 | 1.62 | 3.94 | 31.73 | 23.70 | 6.80 | 7.13 | 4.77 |
P/S ratio |
2.99 | 1.25 | 0.82 | 0.66 | 1.77 | 6.03 | 1.99 | 0.97 | 2.05 | 0.91 |
Altman Z-Score |
3.22 | 2.38 | 2.95 | 4.90 | 5.05 | 6.87 | 1.04 | 1.49 | 2.21 | 0.76 |
P/FCF ratio |
0.00 | 0.00 | 4.85 | 19.92 | 0.00 | 44.56 | 0.00 | 0.00 | 8.44 | 6.66 |
Altman Z″-Score (non-manufacturers) |
15.03 | 14.24 | 11.51 | 14.53 | 9.62 | 3.24 | 0.27 | 3.04 | 2.28 | (0.15) |
P/Operating CF |
19.93 | (21.82) | 15.86 | 3.96 | (211.53) | 29.39 | 8.76 | 9.13 | 14.97 | 7.50 |
Beneish M-Score |
— | — | (0.10) | (2.10) | 1,048.53 | (0.86) | (4.08) | (0.87) | (1.98) | (3.55) |
P/B ratio |
0.34 | 0.22 | 0.29 | 0.46 | 1.12 | 5.10 | 1.23 | 0.56 | 1.68 | 0.76 |
Price to Tangible BV |
0.34 | 0.22 | 0.29 | 0.46 | 1.12 | 5.10 | 1.23 | 0.56 | 1.68 | 0.76 |
EV/Sales |
0.20 | (0.62) | (0.41) | (0.09) | 1.27 | 6.14 | 2.46 | 1.15 | 2.43 | 1.72 |
EV/EBITDA |
0.00 | 1.64 | 0.00 | 0.00 | 2.03 | 22.09 | 15.31 | 3.19 | 4.95 | 3.96 |
EV/Operating CF |
2.64 | 1.47 | (0.59) | (0.17) | 3.33 | 19.78 | 4.76 | 3.64 | 5.50 | 3.99 |
EV/FCF |
(0.98) | 0.79 | (2.46) | (2.70) | (3.68) | 45.39 | (8.78) | (7.31) | 9.98 | 12.63 |
Quick Ratio |
4.12 | 4.20 | 3.64 | 4.80 | 2.49 | 0.42 | 0.26 | 0.79 | 0.30 | 0.15 |
Current Ratio |
5.37 | 5.05 | 4.28 | 6.64 | 3.17 | 0.63 | 0.39 | 1.07 | 0.66 | 0.29 |
Net Debt/EBITDA |
68.42 | 11.94 | (3.27) | (1.12) | (0.89) | 0.29 | 1.75 | 0.51 | 0.77 | 1.87 |
Debt/Assets |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 15.63% | 23.32% | 20.06% | 24.74% | 33.19% |
Debt/Equity |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.24 | 0.49 | 0.33 | 0.47 | 0.80 |
Asset Turnover |
0.10 | 0.15 | 0.31 | 0.84 | 0.73 | 0.55 | 0.34 | 0.38 | 0.46 | 0.35 |
Operating CF/Net income |
(0.29) | 1.26 | 3.76 | 1.35 | 0.85 | 1.62 | 6.13 | 2.51 | 1.54 | 2.27 |
Capex/Depreciation |
(0.72) | (1.76) | (7.94) | (11.68) | (6.57) | (1.72) | (6.03) | (5.16) | (2.32) | (2.00) |
Interest Coverage |
— | — | (14.98) | (210.09) | 51.33 | 7.30 | 4.57 | 7.55 | 8.06 | 4.51 |
| (2.90%) | (5.61%) | 6.58% | 39.27% | 43.26% | 18.91% | 5.41% | 8.29% | 27.87% | 16.94% | |
| (2.65%) | (4.99%) | 5.72% | 33.28% | 32.68% | 10.59% | 2.87% | 4.75% | 13.21% | 6.60% | |
ROIC |
(4.39%) | (6.52%) | 14.40% | 61.90% | 39.60% | 13.43% | 4.05% | 8.74% | 15.88% | 8.96% |
Return on Tangible Assets |
(3.05%) | (6.15%) | 6.75% | 26.93% | 27.22% | 13.99% | 4.08% | 6.08% | 22.57% | 11.42% |
Average Days of Receivables |
0.01 | 19.57 | 0.01 | 0.00 | 79.58 | 0.07 | 0.03 | 2.42 | 0.80 | 10.14 |
Research and Development Expense of Revenue |
0.39% | 0.44% | 0.44% | 0.22% | 0.39% | 1.01% | 1.63% | 0.91% | 0.21% | 1.75% |
Selling, General and Administrative Expense of Revenue |
17.77% | 13.90% | 9.24% | 7.68% | 2.38% | 5.84% | 9.27% | 8.98% | 4.96% | 7.03% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
8.39% | 6.98% | 6.15% | 6.67% | 0.60% | 2.65% | 5.11% | 4.57% | 1.30% | 1.18% |
Graham Net Nets |
1.09 | 1.61 | 1.38 | 1.29 | 0.36 | (0.06) | (0.66) | (0.58) | (0.32) | (1.50) |
Graham Number |
0.00 | 0.00 | 102.97 | 219.46 | 91.11 | 21.39 | 9.01 | 11.42 | 17.14 | 9.86 |
Earnings Yield |
(8.61%) | (26.75%) | 21.68% | 61.55% | 25.37% | 3.15% | 4.22% | 14.70% | 14.02% | 20.96% |
Free Cash Flow Yield |
(6.72%) | (62.54%) | 20.62% | 5.02% | (19.46%) | 2.24% | (14.10%) | (16.28%) | 11.85% | 15.01% |
Revenue per Share |
9.88 | 15.55 | 30.89 | 60.74 | 22.73 | 9.51 | 5.15 | 4.84 | 6.10 | 4.38 |
Operating CF per Share |
0.74 | (6.58) | 21.63 | 32.46 | 8.65 | 2.95 | 2.67 | 1.53 | 2.69 | 1.88 |
Capex per Share |
(2.57) | (5.58) | (15.83) | (16.48) | (6.88) | (1.67) | (4.21) | (2.29) | (1.21) | (1.29) |
Free Cash Flow per Share |
(1.83) | (12.16) | 5.80 | 15.98 | 1.77 | 1.29 | (1.54) | (0.76) | 1.48 | 0.60 |
Cash per Share |
30.68 | 32.27 | 40.79 | 46.58 | 13.59 | 1.67 | 1.69 | 1.86 | 1.20 | 0.61 |
Shareholders Equity per Share |
87.84 | 88.54 | 86.30 | 87.05 | 36.06 | 11.25 | 8.35 | 8.42 | 7.44 | 5.19 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
87.84 | 88.54 | 86.30 | 87.05 | 36.06 | 11.25 | 8.35 | 8.42 | 7.44 | 5.19 |
Free Cash Flow |
(123.34) | (804.34) | 433.16 | 1,212.13 | 130.73 | 91.41 | (104.65) | (47.51) | 78.62 | 31.19 |
Working Capital |
2,194.56 | 2,110.31 | 2,740.15 | 4,152.62 | 1,192.48 | (103.86) | (270.82) | 10.21 | (74.15) | (176.45) |
Capital Expenditures |
(173.01) | (368.92) | (1,182.88) | (1,250.52) | (508.26) | (118.29) | (285.64) | (143.06) | (64.08) | (67.48) |
Net Current Asset Value |
2,163.17 | 2,071.17 | 2,598.00 | 3,899.67 | 1,063.16 | (259.96) | (459.87) | (169.73) | (211.89) | (311.68) |
EV/EBIT |
0.00 | 1.64 | 0.00 | 0.00 | 2.03 | 22.09 | 18.13 | 4.28 | 5.99 | 6.00 |
Capex to Sales |
0.26 | 0.36 | 0.51 | 0.27 | 0.30 | 0.18 | 0.82 | 0.47 | 0.20 | 0.29 |
Price to Operating Income |
0.00 | 0.00 | 2.40 | 1.00 | 2.83 | 21.68 | 14.65 | 3.59 | 5.06 | 3.17 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.07 | 0.06 | 0.04 | 0.04 | 0.05 | 0.07 | 0.05 | 0.04 | 0.06 | 0.06 |
Cash ROIC |
(1.55%) | (10.06%) | 4.56% | 11.96% | 3.56% | 8.23% | (10.88%) | (5.85%) | 12.22% | 5.98% |
Accounts Receivable Turnover |
24.12 | 37.28 | 88,757.50 | 25.18 | 9.17 | 8,498.14 | 345.57 | 223.24 | 91.41 | 17.29 |
Accounts Payable Turnover |
30.27 | 20.82 | 15.87 | 14.70 | 11.58 | 27.89 | 24.64 | 14.28 | 9.41 | 8.21 |
Inventory Turnover |
5.04 | 7.69 | 8.09 | 4.83 | 3.14 | 11.24 | 10.41 | 13.07 | 12.81 | 12.93 |
Average Days of Payables |
12.10 | 7.77 | 24.44 | 24.89 | 51.13 | 15.67 | 17.19 | 16.49 | 39.35 | 46.02 |
Days of Inventory on Hand |
76.84 | 44.06 | 45.60 | 51.54 | 205.71 | 34.85 | 49.22 | 27.71 | 31.95 | 30.15 |
Average Receivables |
27.59 | 27.60 | 0.03 | 183.01 | 183.06 | 0.08 | 1.01 | 1.35 | 3.54 | 13.25 |
Average Payables |
26.54 | 59.66 | 87.38 | 81.67 | 50.21 | 15.83 | 10.95 | 14.25 | 19.03 | 18.12 |
Average Inventory |
159.52 | 161.61 | 171.39 | 248.64 | 184.97 | 39.28 | 25.92 | 15.57 | 13.98 | 11.50 |
Average Assets |
6,433.78 | 6,922.55 | 7,510.48 | 5,468.87 | 2,291.40 | 1,220.25 | 1,028.14 | 801.86 | 702.74 | 658.78 |
Average Common Equity |
5,887.09 | 6,153.08 | 6,526.44 | 4,634.22 | 1,731.37 | 683.04 | 546.14 | 459.83 | 333.13 | 256.69 |
Columns are period end dates