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Daqo New Energy Corp ADR (DQ) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

TECHNOLOGY · SEMICONDUCTOR EQUIPMENT & MATERIALS · DATA UPDATED 2026-09-19

Daqo New Energy Corp ADR (DQ) operates in the SEMICONDUCTOR EQUIPMENT & MATERIALS industry and is headquartered in Shanghai, China with about 3,842 employees. Its market capitalization is roughly $833 million. In the fiscal year ended 2025-12-31, DQ reported $665M in revenue and ($171M) in net income.

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufacturers in the People's Republic of China. The company offers ready-to-use polysilicon, packaged to meet crucible stacking, pulling, and solidification.

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DQ Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31
Total Revenue	$557M	$665M	$1.0B	$2.3B	$4.6B	$1.7B	$676M	$350M	$302M	$353M	$229M	$182M	$183M	$109M	$87M	$256M	$243M	$111M	$56M	—
Gross Profit	($197M)	($138M)	($213M)	$921M	$3.4B	$1.1B	$234M	$80M	$98M	$143M	$80M	$38M	$43M	($26M)	($37M)	$86M	$106M	$42M	$37M	—
Gross Margin %	-35.4%	-20.7%	-20.7%	39.9%	74.0%	65.4%	34.6%	22.9%	32.5%	40.7%	35.1%	20.6%	23.7%	-23.9%	-43.1%	33.7%	43.8%	37.7%	65.6%	—
Operating Income (EBIT)	($295M)	($270M)	($564M)	$783M	$3.0B	$1.1B	$188M	$47M	$81M	$129M	$65M	$26M	$32M	($201M)	($89M)	$43M	$93M	$36M	$27M	$0M
Operating Margin %	-53.0%	-40.6%	-54.8%	34.0%	66.0%	62.6%	27.8%	13.6%	27.0%	36.5%	28.6%	14.4%	17.5%	-184.1%	-101.9%	17.0%	38.1%	32.8%	48.3%	—
Net Income	($191M)	($171M)	($345M)	$430M	$1.8B	$756M	$129M	$30M	$38M	$93M	$43M	$13M	$17M	($71M)	($112M)	$33M	$69M	$31M	$22M	$0M
Net Margin %	-34.3%	-25.6%	-33.6%	18.6%	39.5%	45.1%	19.1%	8.4%	12.6%	26.3%	19.0%	7.1%	9.1%	-65.1%	-128.9%	13.0%	28.3%	27.7%	38.2%	—
EBITDA	($20M)	$3M	($180M)	$967M	$3.1B	$940M	$257M	$95M	$107M	$156M	$86M	$59M	$61M	($148M)	($50M)	$88M	$126M	$53M	$35M	$0M
Earnings Per Share (EPS)	$-2.84	$-2.52	$-5.22	$5.73	$23.54	$9.85	$1.72	$0.42	$0.59	$1.70	$0.82	$0.25	$0.39	$-2.05	$-3.19	$4.74	$12.18	$7.40	$4.15	$-0.01
Shares Outstanding (M)	68M	68M	66M	75M	77M	77M	75M	70M	65M	55M	53M	52M	42M	35M	35M	7M	6M	4M	5M	5M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

DQ Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$63M	$27M	$222M	$245M	$75M	$124M	$195M	$198M
Gross Profit	($83M)	($139M)	$15M	$10M	($82M)	($82M)	($65M)	($61M)
Gross Margin %	-132.0%	-521.5%	7.0%	4.0%	-108.3%	-65.8%	-33.4%	-30.5%
Operating Income (EBIT)	($100M)	($151M)	($21M)	($23M)	($115M)	($114M)	($301M)	($98M)
Operating Margin %	-159.8%	-564.4%	-9.4%	-9.5%	-152.0%	-92.0%	-154.0%	-49.4%
Net Income	($81M)	($88M)	($7M)	($15M)	($77M)	($72M)	($180M)	($61M)
Net Margin %	-129.5%	-330.7%	-3.3%	-6.1%	-101.7%	-58.0%	-92.2%	-30.6%
EBITDA	($36M)	($80M)	$47M	$49M	($47M)	($53M)	($65M)	($33M)
Earnings Per Share (EPS)	$-1.20	$-1.31	$-0.11	$-0.22	$-1.14	$-1.09	$-2.73	$-0.92
Shares Outstanding (M)	68M	68M	68M	68M	67M	66M	—	66M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

DQ Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31
Cash from Operations (CFO)	($115M)	$56M	($436M)	$1.6B	$2.5B	$639M	$210M	$103M	$96M	$143M	$99M	$66M	$46M	($17M)	($10M)	$45M	$126M	($3M)	$103M
Capital Expenditures (CapEx)	$147M	$179M	$359M	$1.2B	$1.3B	$508M	$118M	$280M	$143M	$68M	$67M	$81M	$77M	$33M	$106M	$253M	$58M	$121M	$139M
Free Cash Flow (FCF)	($261M)	($123M)	($795M)	$429M	$1.2B	$131M	$91M	($177M)	($48M)	$75M	$31M	($15M)	($31M)	($49M)	($116M)	($208M)	$68M	($124M)	($36M)
FCF Margin %	-46.9%	-18.5%	-77.2%	18.6%	26.4%	7.8%	13.5%	-50.5%	-15.8%	21.2%	13.6%	-8.2%	-17.2%	-45.0%	-133.5%	-81.2%	28.0%	-111.5%	-64.3%
Dividends Paid	—	—	—	—	$1M	—	—	—	—	—	—	$483M	—	—	—	—	—	—	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

DQ Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	($129M)	($148M)	$106M	$56M	($67M)	($39M)	($61M)	($98M)
Capital Expenditures (CapEx)	$26M	$29M	$59M	$33M	$30M	$58M	$31M	$34M
Free Cash Flow (FCF)	($155M)	($176M)	$47M	$23M	($97M)	($97M)	($92M)	($132M)
FCF Margin %	-247.5%	-659.4%	21.2%	9.4%	-128.8%	-77.9%	-47.3%	-66.3%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

DQ Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31
Total Assets	$6.3B	$6.4B	$6.4B	$7.4B	$7.6B	$3.3B	$1.2B	$1.2B	$855M	$749M	$657M	$661M	$710M	$610M	$816M	$878M	$645M	$524M	$350M	—
Cash & Cash Equivalents	$555M	$980M	$1.0B	$3.0B	$3.5B	$724M	$77M	$52M	$65M	$61M	$16M	$14M	$7M	$8M	$7M	$93M	$204M	$81M	$3M	—
Total Liabilities	$478M	$529M	$560M	$979M	$989M	$680M	$440M	$634M	$330M	$354M	$385M	$419M	$503M	$473M	$475M	$426M	$249M	$343M	$279M	$0M
Total Debt (Short + Long-Term)	$0M	$0M	$7M	$90M	$21M	$143M	$243M	$381M	$201M	$185M	$244M	$263M	$286M	$341M	$308M	$281M	$155M	$189M	$95M	$0M
Total Shareholders' Equity	$4.4B	$4.4B	$4.4B	$4.8B	$4.8B	$2.2B	$767M	$567M	$525M	$392M	$270M	$242M	$207M	$137M	$202M	$311M	$263M	$52M	$22M	$0M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive DQ viewer.

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PLAB · Photronics Inc — $2 billion
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ENTG · Entegris Inc — $22 billion
ONTO · Onto Innovation Inc — $16 billion
AMKR · Amkor Technology Inc — $12 billion

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