Fundies.
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DAQO NEW ENERGY CORP.

EDGAR
DQ Report (type unavailable) · filed 2026-08-20

Annual consolidated revenue for 2025: about Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 665.4M, using the latest reported figures. The previous period, 2024, was about Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 1.029B.

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Watchlist

Latest fiscal year

Revenue

665 million Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

2025 · Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

Exact inputs and evidence
  • Revenue: 665415000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw Source

Operating margin

-40.61%

2025 · %

Exact inputs and evidence
  • Operating Income: -270235000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw Source
  • Revenue: 665415000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw Source

Operating cash flow

49.7 million Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

2025 · Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

Exact inputs and evidence
  • Operating Cash Flow: 49666000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw Source

Free cash flow

-123 million Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

2025 · Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

Exact inputs and evidence
  • Operating Cash Flow: 49666000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw Source
  • Capital Expenditure: 173011000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw Source
Cash and cash equivalents
856 million Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw Source
Exact value

856054000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

Long-term debt including current maturities
178 thousand Unit_Standard_USD_z1tL0cTfQUeWvKFKWBl7oA Source
Exact value

178336 Unit_Standard_USD_z1tL0cTfQUeWvKFKWBl7oA

Shares outstanding
338 million Unit_Standard_shares_aDw1hiFPtUG3XvZ3Q2VrZw Source
Exact value

338330684 Unit_Standard_shares_aDw1hiFPtUG3XvZ3Q2VrZw

Reported share-count change

1.37% · 4.57 million Unit_Standard_shares_aDw1hiFPtUG3XvZ3Q2VrZw

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 333759632 Unit_Standard_shares_aDw1hiFPtUG3XvZ3Q2VrZw · 2024-12-31· Source
  • 338330684 Unit_Standard_shares_aDw1hiFPtUG3XvZ3Q2VrZw · 2025-12-31· Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-08-20.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 3 of 11 periods available· newest 2025-12-31
  • Operating income: 3 of 11 periods available· newest 2025-12-31
  • Net income: 3 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 3 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 3 of 11 periods available· newest 2025-12-31
  • Total assets: 2 of 11 periods available· newest 2025-12-31
  • Total liabilities: 2 of 11 periods available· newest 2025-12-31
  • Current assets: 2 of 11 periods available· newest 2025-12-31
  • Current liabilities: 2 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 3 of 11 periods available· newest 2025-12-31
  • Long-term debt including current maturities: 1 of 11 periods available· newest 2020-12-31
  • Shares outstanding: 2 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    -35.3%

    Prior period

    Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 1.03 billion

    –

    Current period

    Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 665.42 million

    –

    Exact inputs and evidence

    665415000 − 1029080000 = -363665000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

    1029080000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    665415000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw · 2025-01-01 – 2025-12-31

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  • Net income

    +Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 174.7 million

    Prior period

    −Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 345.22 million

    –

    Current period

    −Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 170.51 million

    –

    Exact inputs and evidence

    -170514000 − -345215000 = 174701000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

    -345215000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    -170514000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw · 2025-01-01 – 2025-12-31

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  • Operating cash flow

    +Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 485.09 million

    Prior period

    −Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 435.42 million

    –

    Current period

    Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 49.67 million

    –

    Exact inputs and evidence

    49666000 − -435423000 = 485089000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

    -435423000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    49666000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw · 2025-01-01 – 2025-12-31

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  • Capital expenditure

    -51.8%

    Prior period

    Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 358.83 million

    –

    Current period

    Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 173.01 million

    –

    Exact inputs and evidence

    173011000 − 358828000 = -185817000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

    358828000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    173011000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw · 2025-01-01 – 2025-12-31

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Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 665.42 million 100% of revenue
  • Cost of revenue Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 803.27 million 121% of revenue
  • Operating expenses Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 132.38 million 20% of revenue
  • Operating income −Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 270.24 million −41% of revenue
  • Tax, interest and other Derived −Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 99.72 million −15% of revenue
  • Net income −Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 170.51 million −26% of revenue

Cash

  • Operating cash flow Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 49.67 million 7.5% of revenue
  • Capital expenditure Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 173.01 million 26% of revenue
  • Free cash flow Derived −Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 123.35 million −19% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2023 19%15%66%
  • 2024 Operating loss: operating costs were 155% of revenue.
  • 2025 Operating loss: operating costs were 141% of revenue.
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2023 2023-01-01 – 2023-12-312307695000 1524265000 Derived 783430000 353885000 Derived 429545000 505304000 Derived
Source
2024 2024-01-01 – 2024-12-311029080000 1593172000 Derived -564092000 -218877000 Derived -345215000 -794251000 Derived
Source
2025 2025-01-01 – 2025-12-31665415000 935650000 Derived -270235000 -99721000 Derived -170514000 -123345000 Derived
Source

Amounts are exact, in Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 665.4M 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.2.5B1.9B1.2B623.1M0.0202320242025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw)Source evidence
2023Revenue2307695000
2024Revenue1029080000
2025Revenue665415000

Revenue growth

Change in revenue from the same financial period one year earlier.

-35.3% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.4%-12%-28%-44%-60%202320242025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2023Year over yearNo prior comparable period
2024Year over year-55.4%
2025Year over year-35.3%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin -40.6% 2025
Net margin -25.6% 2025
Free cash flow margin -18.5% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.43%11%-22%-54%-86%202320242025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2023Operating margin33.9%
2024Operating margin-54.8%
2025Operating margin-40.6%
2023Net margin18.6%
2024Net margin-33.5%
2025Net margin-25.6%
2023Free cash flow margin21.9%
2024Free cash flow margin-77.2%
2025Free cash flow margin-18.5%

Operating cash flow

Cash generated by the company’s normal business operations.

Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 49.7M 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1.8B1.2B590.3M-4.6M-599.5M202320242025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw)Source evidence
2023Operating cash flow1616042000
2024Operating cash flow-435423000
2025Operating cash flow49666000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw -123.3M 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.609.3M232.4M-144.5M-521.3M-898.2M202320242025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw)Source evidence
2023Free cash flow505304000
2024Free cash flow-794251000
2025Free cash flow-123345000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

8.3% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.9.4%7.1%4.7%2.4%0.0%2023-12-3120242025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2023-12-31Liabilities / assetsNot reportedNo source recorded
2024Liabilities / assets8.7%
2025Liabilities / assets8.3%

Current assets to current liabilities

Current assets divided by current liabilities.

5.37× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.5.80×4.35×2.90×1.45×0.00×2023-12-3120242025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2023-12-31Current assets / current liabilitiesNot reportedNo source recorded
2024Current assets / current liabilities5.05×
2025Current assets / current liabilities5.37×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2023 2023-01-01 – 2023-12-31
Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 429.55 million
Exact value

Exact value: 429545000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

2023-01-01 – 2023-12-31: 429545000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw Inspect Net Income Open source
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Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 1.62 billion
Exact value

Exact value: 1616042000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

2023-01-01 – 2023-12-31: 1616042000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw Inspect Operating Cash Flow Open source
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Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 1.11 billion
Exact value

Exact value: 1110738000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

2023-01-01 – 2023-12-31: 1110738000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw Inspect Capital Expenditure Open source
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Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 505.3 million
Calculation and evidence

1616042000 − 1110738000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

Exact free cash flow: 505304000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

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2024 2024-01-01 – 2024-12-31
−Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 345.22 million
Exact value

Exact value: -345215000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

2024-01-01 – 2024-12-31: -345215000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw Inspect Net Income Open source
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−Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 435.42 million
Exact value

Exact value: -435423000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

2024-01-01 – 2024-12-31: -435423000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw Inspect Operating Cash Flow Open source
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Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 358.83 million
Exact value

Exact value: 358828000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

2024-01-01 – 2024-12-31: 358828000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw Inspect Capital Expenditure Open source
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−Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 794.25 million
Calculation and evidence

-435423000 − 358828000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

Exact free cash flow: -794251000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

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2025 2025-01-01 – 2025-12-31
−Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 170.51 million
Exact value

Exact value: -170514000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

2025-01-01 – 2025-12-31: -170514000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw Inspect Net Income Open source
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Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 49.67 million
Exact value

Exact value: 49666000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

2025-01-01 – 2025-12-31: 49666000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw Inspect Operating Cash Flow Open source
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Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 173.01 million
Exact value

Exact value: 173011000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

2025-01-01 – 2025-12-31: 173011000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw Inspect Capital Expenditure Open source
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−Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw 123.35 million
Calculation and evidence

49666000 − 173011000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

Exact free cash flow: -123345000 Unit_Standard_USD_BkLjSBNLjUWGms9jeb6Hkw

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

237 filings · 2,148 latest values · 2,148 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001477641, 1477641, DQ, edgar:1477641

Also known as DAQO NEW ENERGY CORP.