What is Daqo New Energy Corp's earnings per share (EPS)?

Daqo New Energy Corp (DQ) reported diluted earnings per share of $-1.04 for fiscal year 2024. This represents a -190.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Daqo New Energy Corp Financials

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2024 Currency USD FYE December

This page shows Daqo New Energy Corp (DQ) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 32/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Daqo New Energy Corp has an operating margin of -54.8%, meaning the company retains $-55 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from 34.0% the prior year.

Growth

Daqo New Energy Corp's revenue declined 55.4% year-over-year, from $2.3B to $1.0B. This contraction results in a growth score of 0/100.

Leverage

Daqo New Energy Corp carries a low D/E ratio of 0.47, meaning only $0.47 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 92/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 5.05, Daqo New Energy Corp holds $5.05 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

While Daqo New Energy Corp generated -$435.4M in operating cash flow, capex of $358.8M consumed most of it, leaving -$794.3M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Daqo New Energy Corp generates a -7.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from 9.0% the prior year.

Piotroski F-Score Weak

1/9

Daqo New Energy Corp passes 1 of 9 financial strength tests. No profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

1.26x

For every $1 of reported earnings, Daqo New Energy Corp generates $1.26 in operating cash flow (-$435.4M OCF vs -$345.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-18.7x

Daqo New Energy Corp earns $-18.7 in operating income for every $1 of interest expense (-$564.1M vs $30.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.0B

YoY-55.4%

5Y CAGR+24.1%

10Y CAGR+18.9%

Daqo New Energy Corp generated $1.0B in revenue in fiscal year 2024. This represents a decrease of 55.4% from the prior year.

EBITDA

-$357.7M

YoY-138.4%

Daqo New Energy Corp's EBITDA was -$357.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 138.4% from the prior year.

Net Income

-$345.2M

YoY-180.4%

Daqo New Energy Corp reported -$345.2M in net income in fiscal year 2024. This represents a decrease of 180.4% from the prior year.

EPS (Diluted)

$-1.04

YoY-190.4%

Daqo New Energy Corp earned $-1.04 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 190.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$794.3M

YoY-257.2%

Daqo New Energy Corp generated -$794.3M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 257.2% from the prior year.

Cash & Debt

$1.0B

YoY-66.9%

5Y CAGR+80.4%

10Y CAGR+64.2%

Daqo New Energy Corp held $1.0B in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

334M

YoY+1.6%

5Y CAGR-0.8%

10Y CAGR+4.1%

Daqo New Energy Corp had 334M shares outstanding in fiscal year 2024. This represents an increase of 1.6% from the prior year.

Margins & Returns

Gross Margin

-20.7%

YoY-60.6pp

5Y CAGR-43.6pp

10Y CAGR-44.4pp

Daqo New Energy Corp's gross margin was -20.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 60.6 percentage points from the prior year.

Operating Margin

-54.8%

YoY-88.8pp

5Y CAGR-68.4pp

10Y CAGR-72.4pp

Daqo New Energy Corp's operating margin was -54.8% in fiscal year 2024, reflecting core business profitability. This is down 88.8 percentage points from the prior year.

Net Margin

-33.6%

YoY-52.2pp

5Y CAGR-42.0pp

10Y CAGR-42.7pp

Daqo New Energy Corp's net profit margin was -33.6% in fiscal year 2024, showing the share of revenue converted to profit. This is down 52.2 percentage points from the prior year.

Return on Equity

-7.9%

YoY-16.9pp

5Y CAGR-13.1pp

10Y CAGR-16.0pp

Daqo New Energy Corp's ROE was -7.9% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 16.9 percentage points from the prior year.

Capital Allocation

R&D Spending

$4.6M

YoY-54.9%

5Y CAGR-4.4%

10Y CAGR+11.9%

Daqo New Energy Corp invested $4.6M in research and development in fiscal year 2024. This represents a decrease of 54.9% from the prior year.

Share Buybacks

$5.0M

YoY-99.0%

Daqo New Energy Corp spent $5.0M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 99.0% from the prior year.

Capital Expenditures

$358.8M

YoY-67.7%

5Y CAGR+5.2%

10Y CAGR+16.6%

Daqo New Energy Corp invested $358.8M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 67.7% from the prior year.

DQ Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$1.0B-55.4%	$2.3B-49.9%	$4.6B+174.5%	$1.7B+148.5%	$675.6M+93.0%	$350.0M
Cost of Revenue	$1.2B-10.5%	$1.4B+15.5%	$1.2B+106.4%	$581.6M+31.7%	$441.6M+63.6%	$269.9M
Gross Profit	-$212.9M-123.1%	$920.6M-73.0%	$3.4B+210.6%	$1.1B+368.9%	$234.0M+192.1%	$80.1M
R&D Expenses	$4.6M-54.9%	$10.1M+0.7%	$10.0M+54.6%	$6.5M-5.3%	$6.9M+20.1%	$5.7M
SG&A Expenses	$143.1M-32.9%	$213.2M-39.8%	$354.1M+787.3%	$39.9M+1.1%	$39.5M+21.6%	$32.5M
Operating Income	-$564.1M-172.0%	$783.4M-74.2%	$3.0B+189.2%	$1.1B+459.7%	$187.9M+295.6%	$47.5M
Interest Expense	$30.2M-42.2%	$52.3M+261.4%	$14.5M-29.3%	$20.5M-20.4%	$25.7M+173.3%	$9.4M
Income Tax	-$69.9M-142.2%	$165.6M-71.3%	$577.2M+239.4%	$170.1M+503.6%	$28.2M+192.9%	$9.6M
Net Income	-$345.2M-180.4%	$429.5M-76.4%	$1.8B+143.0%	$748.9M+479.7%	$129.2M+337.6%	$29.5M
EPS (Diluted)	$-1.04-190.4%	$1.15-75.4%	$4.67+139.5%	$1.95+473.5%	$0.34+325.0%	$0.08

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18	Q4'17
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

DQ Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$6.4B-13.6%	$7.4B-2.2%	$7.6B+127.1%	$3.3B+169.8%	$1.2B+3.1%	$1.2B
Current Assets	$2.6B-26.4%	$3.6B-26.8%	$4.9B+180.5%	$1.7B+866.9%	$180.3M+3.4%	$174.3M
Cash & Equivalents	$1.0B-66.9%	$3.0B-13.2%	$3.5B+383.5%	$723.8M+844.9%	$76.6M+45.4%	$52.7M
Inventory	$149.9M-13.5%	$173.3M+2.2%	$169.5M-48.3%	$327.8M+677.5%	$42.2M+15.9%	$36.4M
Accounts Receivable	N/A	N/A	$0	$0	$0-100.0%	$13K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.1B-22.8%	$2.7B-4.4%	$2.8B+309.9%	$679.8M+54.4%	$440.2M-30.6%	$634.2M
Current Liabilities	$521.2M-37.7%	$836.4M+13.6%	$736.5M+33.8%	$550.5M+93.7%	$284.1M-36.2%	$445.1M
Long-Term Debt	N/A	N/A	N/A	$0-100.0%	$123.2M-18.7%	$151.5M
Total Equity	$4.4B-8.4%	$4.8B-0.9%	$4.8B+122.4%	$2.2B+181.8%	$767.1M+35.4%	$566.6M
Retained Earnings	$3.0B-10.4%	$3.3B+14.8%	$2.9B+168.6%	$1.1B+226.9%	$330.1M+64.3%	$200.9M

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18	Q4'17
Total Assets	$6.4B-13.6%	$7.4B-2.2%	$7.6B+127.1%	$3.3B+169.8%	$1.2B+3.1%	$1.2B+40.5%	$854.9M+14.2%	$748.8M
Current Assets	$2.6B-26.4%	$3.6B-26.8%	$4.9B+180.5%	$1.7B+866.9%	$180.3M+3.4%	$174.3M+8.9%	$160.1M+12.4%	$142.4M
Cash & Equivalents	$1.0B-66.9%	$3.0B-13.2%	$3.5B+383.5%	$723.8M+844.9%	$76.6M+45.4%	$52.7M-20.7%	$66.4M+9.4%	$60.7M
Inventory	$149.9M-13.5%	$173.3M+2.2%	$169.5M-48.3%	$327.8M+677.5%	$42.2M+15.9%	$36.4M+135.6%	$15.4M-1.5%	$15.7M
Accounts Receivable	N/A	N/A	$0	$0	$0-100.0%	$13K-98.9%	$1.2M+68.5%	$701K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.1B-22.8%	$2.7B-4.4%	$2.8B+309.9%	$679.8M+54.4%	$440.2M-30.6%	$634.2M+92.3%	$329.8M-6.9%	$354.3M
Current Liabilities	$521.2M-37.7%	$836.4M+13.6%	$736.5M+33.8%	$550.5M+93.7%	$284.1M-36.2%	$445.1M+197.1%	$149.9M-30.8%	$216.5M
Long-Term Debt	N/A	N/A	N/A	$0-100.0%	$123.2M-18.7%	$151.5M+13.7%	$133.3M+19.6%	$111.4M
Total Equity	$4.4B-8.4%	$4.8B-0.9%	$4.8B+122.4%	$2.2B+181.8%	$767.1M+35.4%	$566.6M+7.9%	$525.1M+34.1%	$391.7M
Retained Earnings	$3.0B-10.4%	$3.3B+14.8%	$2.9B+168.6%	$1.1B+226.9%	$330.1M+64.3%	$200.9M+17.2%	$171.4M+28.6%	$133.3M

DQ Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$435.4M-126.9%	$1.6B-34.4%	$2.5B+285.4%	$639.0M+204.7%	$209.7M+15.9%	$181.0M
Capital Expenditures	$358.8M-67.7%	$1.1B-7.8%	$1.2B+141.8%	$498.5M+321.4%	$118.3M-57.6%	$279.0M
Free Cash Flow	-$794.3M-257.2%	$505.3M-59.8%	$1.3B+795.0%	$140.5M+53.7%	$91.4M+193.2%	-$98.1M
Investing Cash Flow	-$1.5B-23.8%	-$1.2B-19.8%	-$998.4M-27.7%	-$781.9M-559.9%	-$118.5M+54.7%	-$261.8M
Financing Cash Flow	-$47.4M+94.0%	-$795.4M-154.0%	$1.5B+100.0%	$736.2M+871.2%	-$95.5M-193.3%	$102.3M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$5.0M-99.0%	$485.9M+289.0%	$124.9M	N/A	N/A	N/A

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18	Q4'17
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

DQ Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	-20.7%-60.6pp	39.9%-34.1pp	74.0%+8.6pp	65.4%+30.7pp	34.6%+11.7pp	22.9%
Operating Margin	-54.8%-88.8pp	34.0%-32.0pp	66.0%+3.4pp	62.6%+34.8pp	27.8%+14.2pp	13.6%
Net Margin	-33.6%-52.2pp	18.6%-20.9pp	39.5%-5.1pp	44.6%+25.5pp	19.1%+10.7pp	8.4%
Return on Equity	-7.9%-16.9pp	9.0%-28.8pp	37.9%+3.2pp	34.6%+17.8pp	16.8%+11.6pp	5.2%
Return on Assets	-5.4%-11.2pp	5.8%-18.2pp	24.0%+1.6pp	22.4%+12.0pp	10.4%+8.0pp	2.5%
Current Ratio	5.05+0.8	4.28-2.4	6.64+3.5	3.17+2.5	0.63+0.2	0.39
Debt-to-Equity	0.47-0.1	0.56-0.0	0.58+0.6	0.00-0.2	0.16-0.1	0.27
FCF Margin	-77.2%-99.1pp	21.9%-5.4pp	27.3%+18.9pp	8.4%-5.2pp	13.5%+41.5pp	-28.0%

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18	Q4'17
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	5.05+0.8	4.28-2.4	6.64+3.5	3.17+2.5	0.63+0.2	0.39-0.7	1.07+0.4	0.66
Debt-to-Equity	0.47-0.1	0.56-0.0	0.58+0.6	0.00-0.2	0.16-0.1	0.27+0.0	0.25-0.0	0.28
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Daqo New Energy Corp's annual revenue?

Daqo New Energy Corp (DQ) reported $1.0B in total revenue for fiscal year 2024. This represents a -55.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Daqo New Energy Corp's revenue growing?

Daqo New Energy Corp (DQ) revenue declined by 55.4% year-over-year, from $2.3B to $1.0B in fiscal year 2024.

Is Daqo New Energy Corp profitable?

No, Daqo New Energy Corp (DQ) reported a net income of -$345.2M in fiscal year 2024, with a net profit margin of -33.6%.

What is Daqo New Energy Corp's EBITDA?

Daqo New Energy Corp (DQ) had EBITDA of -$357.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Daqo New Energy Corp's gross margin?

Daqo New Energy Corp (DQ) had a gross margin of -20.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Daqo New Energy Corp's operating margin?

Daqo New Energy Corp (DQ) had an operating margin of -54.8% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Daqo New Energy Corp's net profit margin?

Daqo New Energy Corp (DQ) had a net profit margin of -33.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Daqo New Energy Corp's return on equity (ROE)?

Daqo New Energy Corp (DQ) has a return on equity of -7.9% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Daqo New Energy Corp's free cash flow?

Daqo New Energy Corp (DQ) generated -$794.3M in free cash flow during fiscal year 2024. This represents a -257.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Daqo New Energy Corp's operating cash flow?

Daqo New Energy Corp (DQ) generated -$435.4M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Daqo New Energy Corp's total assets?

Daqo New Energy Corp (DQ) had $6.4B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Daqo New Energy Corp's capital expenditures?

Daqo New Energy Corp (DQ) invested $358.8M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Daqo New Energy Corp spend on research and development?

Daqo New Energy Corp (DQ) invested $4.6M in research and development during fiscal year 2024.

Does Daqo New Energy Corp buy back shares?

Yes, Daqo New Energy Corp (DQ) spent $5.0M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Daqo New Energy Corp have outstanding?

Daqo New Energy Corp (DQ) had 334M shares outstanding as of fiscal year 2024.

What is Daqo New Energy Corp's current ratio?

Daqo New Energy Corp (DQ) had a current ratio of 5.05 as of fiscal year 2024, which is generally considered healthy.

What is Daqo New Energy Corp's debt-to-equity ratio?

Daqo New Energy Corp (DQ) had a debt-to-equity ratio of 0.47 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Daqo New Energy Corp's return on assets (ROA)?

Daqo New Energy Corp (DQ) had a return on assets of -5.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Daqo New Energy Corp's cash runway?

Based on fiscal year 2024 data, Daqo New Energy Corp (DQ) had $1.0B in cash against an annual operating cash burn of $435.4M. This gives an estimated cash runway of approximately 28 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Daqo New Energy Corp's Piotroski F-Score?

Daqo New Energy Corp (DQ) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Daqo New Energy Corp's earnings high quality?

Daqo New Energy Corp (DQ) has an earnings quality ratio of 1.26x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Daqo New Energy Corp cover its interest payments?

Daqo New Energy Corp (DQ) has an interest coverage ratio of -18.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Daqo New Energy Corp?

Daqo New Energy Corp (DQ) scores 32 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.