undamentalytics Newsletter
Sign in

Daqo NEW Energy Corp. (DQ) stock

Add to watchlist

Add holding +

NYSE: DQ NYSE Semiconductors

D Fundamentals grade

Daqo NEW Energy Corp. is a US-listed company in the semiconductors industry. Its financial year ends in December.

Stock price today

Loading chart…

Third-party market data · may be delayed

Model estimate per share

~$22

Forward price-to-sales vs peers

Base case. Range ~$22–$65. Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative.

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Daqo NEW Energy Corp. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds58 adding, 63 cuttingOf 24 active managers that changed their stake, 10 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Daqo NEW Energy files

Where Daqo NEW Energy stands after its latest Filing

Revenue for the twelve months was $665m, down 35.3% on a year earlier, a smaller fall than the 55.4% decline a quarter earlier. That puts it 71 of 75 for growth among the semiconductor companies we cover. Free-cash-flow margin fell to -18.5% from 8.4% a year earlier. Operating margin narrowed to -40.6% from 62.6%. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 2 financial-health checks. Our forward price-to-sales vs peers value is $22.82 a share, against a share price of $10.77.

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Daqo NEW Energy Corp.'s trailing-twelve-month revenue fell 35.3% year on year, with a free-cash-flow margin of -18.5%. Where it stands out: change in growth rate of +20.1pp ranks 7 of 75 semiconductor companies we cover. Where it lags: gross margin of -20.7% ranks 71 of 73 semiconductor companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 84.5% while net income grew 50.6%: a 34pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Margins widening. Operating margin is up 14.2 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.9bn.

Things to watch

  • Revenue shrinking. Revenue fell 35.3% over the last 12 months.
  • Loss-making. Operating margin is -40.6%: costs exceed revenue.
  • Burning cash. Free cash flow was -18.5% of revenue over the last 12 months.
  • Volatile shares. Over the past year the shares showed annualised volatility of 55% and a beta of 1.6 against the S&P 500.
  • Below peers: gross margin. Gross margin of -20.7% ranks 71 of 73 semiconductor companies we cover (median 48.3%).
  • Heavily shorted. 11.6% of the shares available to trade are sold short (8.8 days of average volume to cover).

Latest results

Earnings per share
-$0.78 against an average estimate of -$0.48: missed by 62.5%
Next report
October 27, 2026; average EPS estimate -$0.90

Daqo NEW Energy's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-3.2%
  • 1 week+3.1%
  • 1 month-5.3%
  • This year-64.7%
  • 1 year-68.1%
  • 5 years-85.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$665M
Operating margin
-40.6%
Net margin
-25.6%
EPS (TTM, diluted)
$-2.53

Growth

Revenue growth
−35.3%
Change in growth rate
+20.1 pts
Share count change
+1.8%

Cash

Free cash flow (TTM)
-$123M
FCF margin
-18.5%
Stock pay % of revenue
8.4%

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for DQ from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Daqo NEW Energy Corp. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Daqo NEW Energy Corp. as an operating company, with every model that fits that kind of business. Cost of equity 10.6%: the 10-year Treasury yield (4.9%) plus a beta of 1.26 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$190 ~$130–$270 Left out: out of range vs price (18.26x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$150 ~$130–$170 Left out: out of range vs price (14.12x)
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$22 ~$23–$65 Included, half weight
Cash-flow model (DCF) Free cash flow after stock pay, grown then faded to 2.5%, discounted at 8.5%. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$22 ~$22–$65 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Daqo NEW Energy Corp. with Semiconductors in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025
Share price$3.33$3.86$11.89$4.68$10.24$57.36$40.32$38.61$26.60$19.44$29.50
Market value$174m$204m$649m$305m$717m$4.3bn$3.1bn$3.0bn$2.0bn$1.3bn$2.0bn
+ Net debt (− = net cash)$228m$202m$125m$109m$277m$172m−$724m−$3.5bn−$3.0bn−$1000m−$753m
Enterprise value$402m$406m$773m$414m$994m$4.5bn$2.4bn−$495m−$1.0bn$286m$1.2bn
Multiples
Price / sales 1.0x1.0x2.0x1.0x2.0x6.4x1.8x0.6x0.9x1.2x3.0x
Price / earnings 13.4x4.7x7.0x8.0x24.3x33.3x4.1x1.6x4.6x——
Price / free cash flow —6.4x8.3x——47.1x22.0x2.4x3.9x——
EV / EBITDA 7.0x4.9x4.9x3.8x10.5x17.4x2.1xn/mn/m——

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

32 /100

Weak moat

How hard Daqo NEW Energy's competitive advantage looks for rivals to wear away, judged from 5 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Pricing power 5 / 20

    Gross margin has been a median 37.7%, moving by 36.2 percentage points (standard deviation) across 5 years.

  • Durability 10 / 20

    Operating margin has been a median 32.8%; its worst year was -184.1%.

  • Cash conversion 4 / 20

    Free cash flow was positive in 2 of 5 years, at a median -18.5% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current — — $504m −24%
Next — — $656m +30%

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 −$0.48 −$0.78 −62.5%
Jun 2026 −$0.57 −$1.20 −110.5%
Mar 2026 −$0.11 −$1.31 −1090.9%
Dec 2025 −$0.25 −$0.11 +56.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

7 analysts, Oct 2026
Buy571%
Hold114%
Sell114%

Monthly trend

  1. Oct 202632117
  2. Sep 202623117
  3. Aug 202633118
  4. Jul 20263328

Counts of recommendations published by analysts covering Daqo NEW Energy Corp., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
11.6%
of tradable shares
Days to cover
8.77
at average volume
Short interest, 1 month
+7%
to October 15, 2026
Held by institutions
51%
of shares
Held by insiders
21.1%
of shares
Employees
3,842
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
DQ−30%−4%−31%−27%+52%−65%
Industry peers (median)+36%−39%+16%−9%+16%+17%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
DQ42%50%33%50%58%9%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
DQ−70%−50%−60%−52%−44%−66%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 92% from February 9, 2021 to October 22, 2026. Getting back needed a 1131% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$10.08 – $35.69
From 52-week high
−70.8%
vs 50-day average
−9.8%
vs 200-day average
−38.6%
Volatility (1 year)
55%
Beta vs S&P 500
1.58

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Daqo NEW Energy Corp. in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Daqo NEW Energy Corp.
$0 $2B $4B $6B FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 Revenue (TTM), FY14 Q4: $182.6M Revenue (TTM), FY15 Q4: $182M Revenue (TTM), FY16 Q4: $196.2M Revenue (TTM), FY17 Q4: $323.2M Revenue (TTM), FY18 Q4: $301.6M Revenue (TTM), FY19 Q4: $350M Revenue (TTM), FY20 Q4: $675.6M Revenue (TTM), FY21 Q4: $1.7B Revenue (TTM), FY22 Q4: $4.6B Revenue (TTM), FY23 Q4: $2.3B Revenue (TTM), FY24 Q4: $1B Revenue (TTM), FY25 Q4: $665.4M $665.4M

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY14 Q4 $182.6M
FY15 Q4 $182M
FY16 Q4 $196.2M
FY17 Q4 $323.2M
FY18 Q4 $301.6M
FY19 Q4 $350M
FY20 Q4 $675.6M
FY21 Q4 $1.7B
FY22 Q4 $4.6B
FY23 Q4 $2.3B
FY24 Q4 $1B
FY25 Q4 $665.4M
Revenue growth, TTM YoY Daqo NEW Energy Corp.
-100% 0% 100% 200% FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 Revenue growth, TTM YoY, FY14 Q4: 67.5% Revenue growth, TTM YoY, FY15 Q4: -0.3% Revenue growth, TTM YoY, FY16 Q4: 7.8% Revenue growth, TTM YoY, FY17 Q4: 64.7% Revenue growth, TTM YoY, FY18 Q4: -6.7% Revenue growth, TTM YoY, FY19 Q4: 16.0% Revenue growth, TTM YoY, FY20 Q4: 93.0% Revenue growth, TTM YoY, FY21 Q4: 148.5% Revenue growth, TTM YoY, FY22 Q4: 174.5% Revenue growth, TTM YoY, FY23 Q4: -49.9% Revenue growth, TTM YoY, FY24 Q4: -55.4% Revenue growth, TTM YoY, FY25 Q4: -35.3% -35.3%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue growth, TTM YoY
FY14 Q4 67.5%
FY15 Q4 -0.3%
FY16 Q4 7.8%
FY17 Q4 64.7%
FY18 Q4 -6.7%
FY19 Q4 16.0%
FY20 Q4 93.0%
FY21 Q4 148.5%
FY22 Q4 174.5%
FY23 Q4 -49.9%
FY24 Q4 -55.4%
FY25 Q4 -35.3%
Operating margin (TTM) Daqo NEW Energy Corp.
-100% -50% 0% 50% 100% FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 Operating margin (TTM), FY14 Q4: 17.5% Operating margin (TTM), FY15 Q4: 14.4% Operating margin (TTM), FY16 Q4: 31.2% Operating margin (TTM), FY17 Q4: 40.5% Operating margin (TTM), FY18 Q4: 26.9% Operating margin (TTM), FY19 Q4: 13.6% Operating margin (TTM), FY20 Q4: 27.8% Operating margin (TTM), FY21 Q4: 62.6% Operating margin (TTM), FY22 Q4: 66.0% Operating margin (TTM), FY23 Q4: 33.9% Operating margin (TTM), FY24 Q4: -54.8% Operating margin (TTM), FY25 Q4: -40.6% -40.6%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY14 Q4 17.5%
FY15 Q4 14.4%
FY16 Q4 31.2%
FY17 Q4 40.5%
FY18 Q4 26.9%
FY19 Q4 13.6%
FY20 Q4 27.8%
FY21 Q4 62.6%
FY22 Q4 66.0%
FY23 Q4 33.9%
FY24 Q4 -54.8%
FY25 Q4 -40.6%
FCF margin (TTM) Daqo NEW Energy Corp.
-100% -50% 0% 50% FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 FCF margin (TTM), FY14 Q4: -17.2% FCF margin (TTM), FY15 Q4: -8.2% FCF margin (TTM), FY16 Q4: 16.4% FCF margin (TTM), FY17 Q4: 24.3% FCF margin (TTM), FY18 Q4: -15.8% FCF margin (TTM), FY19 Q4: -28.0% FCF margin (TTM), FY20 Q4: 13.5% FCF margin (TTM), FY21 Q4: 8.4% FCF margin (TTM), FY22 Q4: 27.3% FCF margin (TTM), FY23 Q4: 21.9% FCF margin (TTM), FY24 Q4: -77.2% FCF margin (TTM), FY25 Q4: -18.5% -18.5%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period FCF margin (TTM)
FY14 Q4 -17.2%
FY15 Q4 -8.2%
FY16 Q4 16.4%
FY17 Q4 24.3%
FY18 Q4 -15.8%
FY19 Q4 -28.0%
FY20 Q4 13.5%
FY21 Q4 8.4%
FY22 Q4 27.3%
FY23 Q4 21.9%
FY24 Q4 -77.2%
FY25 Q4 -18.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F, 20-F/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 111 253 232 87 109 183 182 196 323 302 350 676 1,679 4,608 2,308 1,029 665
Gross profit 42 108 87 −37 −26 43 38 78 144 98 80 234 1,097 3,408 921 −213 −138
EBITDA 53 126 86 −51 −148 60 58 84 159 109 95 257 1,129 3,148 932 −358 −34
Operating income 36 96 51 −89 −201 32 26 61 131 81 47 188 1,051 3,041 783 −564 −270
Net income 31 69 33 −112 −71 17 13 43 93 38 30 129 749 1,820 430 −345 −171
Diluted EPS $1.45 $2.30 $0.95 −$3.20 −$2.05 $0.40 $0.25 $0.80 $1.70 $0.60 $0.40 $1.70 $9.75 $23.35 $5.75 −$5.20 −$2.55
Growth (year on year)
Revenue — +127.4% −8.2% −62.6% +25.5% +67.5% −0.3% +7.8% +64.7% −6.7% +16.0% +93.0% +148.5% +174.5% −49.9% −55.4% −35.3%
EBITDA — +140.7% −31.8% −159.3% — — −4.1% +45.4% +89.4% −31.3% −12.9% +170.5% +340.0% +178.9% −70.4% −138.4% —
Operating income — +162.6% −46.9% −274.4% — — −18.1% +133.1% +114.0% −37.9% −41.5% +295.6% +459.7% +189.2% −74.2% −172.0% —
Net income — +122.4% −51.4% −435.9% — — −22.2% +235.7% +113.5% −58.9% −22.6% +337.6% +479.7% +143.0% −76.4% −180.4% —
Diluted EPS — +58.6% −58.7% −436.8% — — −37.5% +220.0% +112.5% −64.7% −33.3% +325.0% +473.5% +139.5% −75.4% −190.4% —
Margins
Gross margin 37.7% 42.8% 37.6% −43.1% −23.9% 23.7% 20.6% 39.7% 44.6% 32.5% 22.9% 34.6% 65.4% 74.0% 39.9% −20.7% −20.7%
EBITDA margin 47.2% 50.0% 37.1% −58.9% −136.1% 32.9% 31.6% 42.7% 49.1% 36.1% 27.1% 38.0% 67.2% 68.3% 40.4% −34.8% −5.0%
Operating margin 32.8% 37.8% 21.9% −101.9% −184.1% 17.5% 14.4% 31.2% 40.5% 26.9% 13.6% 27.8% 62.6% 66.0% 33.9% −54.8% −40.6%
Net margin 27.7% 27.1% 14.4% −128.9% −65.1% 9.1% 7.1% 22.2% 28.7% 12.6% 8.4% 19.1% 44.6% 39.5% 18.6% −33.5% −25.6%
Free-cash-flow margin −111.5% 26.9% −89.5% −133.5% −45.0% −17.2% −8.2% 16.4% 24.3% −15.8% −28.0% 13.5% 8.4% 27.3% 21.9% −77.2% −18.5%
Cash flow
Cash from operations −3 126 45 −10 −17 46 66 99 143 96 181 210 639 2,463 1,616 −435 50
Capital spending 121 58 253 106 33 77 81 67 64 143 279 118 499 1,205 1,111 359 173
Free cash flow −124 68 −208 −116 −49 −31 −15 32 79 −48 −98 91 140 1,257 505 −794 −123
Stock-based pay 0 2 2 2 2 2 4 3 4 14 18 18 10 307 142 72 56
Free cash flow after stock pay −124 66 −210 −118 −51 −33 −19 29 74 −61 −116 74 130 950 363 −866 −179
Balance sheet
Cash 81 204 93 7 8 7 14 16 61 66 53 77 724 3,499 3,039 1,007 856
Total debt 0 155 277 308 254 237 242 218 185 176 330 249 0 21 0 7 103
Net debt (negative = net cash) −81 −49 185 301 246 230 228 202 125 109 277 172 −724 −3,479 −3,039 −1,000 −753
Diluted shares 21m 28m 35m 35m 35m 42m 52m 53m 55m 65m 70m 75m 77m 77m 75m 66m 67m
Returned to shareholders
Buybacks — — — 1 — — 1 — — — — — — 125 486 5 —
Total returned — — — 1 — — 1 — — — — — — 125 486 5 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · December 31, 2025
What it owns · $6.4bn
Short-term assets $2.7bnLonger-term assets $3.8bn
What it owes, and who funded it · $4.9bn
Short-term liabilities $502mLonger-term liabilities $31mShareholders' equity $4.4bn
  • Short-term assets cover short-term liabilities $2.7bn of assets due within a year against $502m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $2.7bn short-term assets against $31m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Daqo NEW Energy Corp.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2024 Q4 TTM
Buybacks (TTM)
$5M
Returned to shareholders
-1%
of free cash flow
Buybacks, last 3 fiscal years
$616M
Diluted share count
+1.8%
year over year
Total shareholder yield
0.7%
dividends 0.0% + buybacks 0.7% of market value
R&D spending
0.4%
of revenue
Sales & admin spending
17.8%
of revenue

Competitors: side by side with peers

Closest by revenue in semiconductors
Last 12 months unless stated DQ MXL AOSL LSCC IMOS RMBS Median
Revenue, last 12 months $665m $661m $679m $651m $769m $796m $1.1bn
Revenue growth, last 12 months −35.3% 56.0% −2.5% 33.3% 8.8% 17.3% 13.7%
Revenue growth, 3-year average 82.8% −8.4% −0.6% −3.4% — 20.0% 3.9%
Revenue growth, latest quarter — 72.4% −3.5% 62.2% — 22.3% 20.1%
Gross margin −20.7% 58.0% 22.3% 69.0% 10.8% 79.1% 48.3%
Operating margin −40.6% −0.9% −6.4% 7.4% 4.8% 36.3% 4.8%
Operating margin, 3-year average 20.8% −31.3% −3.7% 10.3% 12.5% 34.6% 4.8%
Net margin −25.6% −4.4% −6.2% 5.6% 2.3% 33.4% 5.3%
Cash from operations / revenue 7.5% −1.1% −2.4% 37.4% 16.7% 43.6% 17.4%
Free-cash-flow margin −18.5% −3.1% −10.0% 30.6% 0.6% 39.3% 9.6%
Free-cash-flow margin, 3-year average 4.7% −7.7% −4.3% 29.2% 1.0% 40.4% 8.5%
Stock pay / revenue 8.4% 13.2% 3.9% 18.7% 0.2% 7.4% 5.8%
Change in share count 1.8% 7.7% 1.9% 0.8% −2.9% 0.9% 0.9%

Median of all 75 companies we cover in semiconductors. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

75 semiconductor companies
Measure Company Peer median Rank
Revenue growth Growth -35.3% 13.7% 71 of 75
Change in growth rate Growth +20.1pp +3.7pp 7 of 75
Gross margin Profitability -20.7% 48.3% 71 of 73
Operating margin Profitability -40.6% 4.8% 60 of 75
Net margin Profitability -25.6% 5.3% 58 of 75
Free-cash-flow margin Cash generation -18.5% 9.6% 62 of 75
Stock pay as % of revenue Cash generation 8.4% 6.4% 45 of 74
Change in share count Balance sheet 1.8% 0.9% 46 of 72

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$411M
Institutions reporting
114
Shares held vs prior quarter
▲ 11.6%
Positions opened / closed
16 / 27

Top buyers and sellers, Q2 2026: 58 institutions bought and 63 sold ; the biggest buyer was Morgan Stanley (+1.7M shares) and the biggest seller Two Sigma Investments, LP (−604K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Continental General Insurance Co $89M 6.6M 21.7% 0.0%
Morgan Stanley $36.5M 2.7M 8.9% ▲ 157.7%
Invesco Ltd. $30.7M 2.3M 7.5% ▲ 13.1%
Polunin Capital Partners Ltd $21.3M 1.7M 5.2% ▼ 1.6%
Vanguard Capital Management LLC $18.4M 1.4M 4.5% ▲ 1.5%
Mackenzie Financial Corp $17.1M 1.3M 4.2% ▼ 7.5%
Franklin Resources Inc $16.8M 1.3M 4.1% ▼ 23.2%
State Street Corp $15.8M 1.2M 3.8% ▲ 53.4%
Blackrock, Inc. $13.2M 989K 3.2% ▼ 21.6%
Ariose Capital Management Ltd $12.8M 954K 3.1% ▲ 108.7%
Fil Ltd $11.1M 832K 2.7% ▲ 40.1%
FMR LLC $8.1M 603K 2.0% ▲ 1004596.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Daqo NEW Energy Corp.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Daqo NEW Energy Corp. was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Daqo NEW Energy Corp. in brief

What does Daqo NEW Energy Corp. do?
Daqo NEW Energy Corp. is a US-listed company in the semiconductors industry. Its financial year ends in December.
What is Daqo NEW Energy Corp.'s stock ticker?
Daqo NEW Energy Corp. trades under the ticker DQ on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Daqo NEW Energy Corp.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Daqo NEW Energy Corp. reported revenue of $665M, 35.3% lower than a year earlier, according to its SEC filings.
What is Daqo NEW Energy Corp.'s free cash flow?
Daqo NEW Energy Corp.'s free-cash-flow margin is -18.5% of revenue over the trailing twelve months, ranking 62 of the 75 semiconductor companies we cover.
Who are Daqo NEW Energy Corp.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Continental General Insurance Co, Morgan Stanley and Invesco Ltd. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Daqo NEW Energy Corp. buying back stock, and does it pay a dividend?
Daqo NEW Energy Corp. spent $5M on share repurchases over the trailing twelve months, and its diluted share count still rose 1.8% over the year.
What is Daqo NEW Energy Corp.'s market cap?
On December 31, 2025, Daqo NEW Energy Corp.'s market capitalisation was about $2B and net debt of -$753M. Market figures come from third-party market data and may be delayed.
Who are Daqo NEW Energy Corp.'s competitors?
In our Semiconductors peer group, the companies closest to Daqo NEW Energy Corp. are Maxlinear, Inc, Alpha & Omega Semiconductor Ltd, Lattice Semiconductor Corp, Chipmos Technologies Inc and Rambus Inc. The side-by-side comparison below sets their revenue, margins and growth against Daqo NEW Energy Corp.'s.