Daqo NEW Energy Corp. income statement

In fiscal 2025, Daqo NEW Energy Corp. reported revenue of $665m, down 35.3% on the year before, operating income of −$270m (a -40.6% margin) and net income of −$171m, or −$2.55 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

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

Daqo NEW Energy Corp.: income statement, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Revenue	111	253	232	87	109	183	182	196	323	302	350	676	1,679	4,608	2,308	1,029	665
Cost of revenue	69	145	145	124	135	139	144	118	179	203	270	442	582	1,200	1,387	1,242	803
Gross profit	42	108	87	−37	−26	43	38	78	144	98	80	234	1,097	3,408	921	−213	−138
Research and development	3	1	1	4	3	1	1	4	1	3	6	7	6	10	10	5	3
Selling, general and administrative	9	15	13	13	18	10	13	15	16	27	32	39	40	354	213	143	118
Operating income	36	96	51	−89	−201	32	26	61	131	81	47	188	1,051	3,041	783	−564	−270
Interest expense	6	10	9	15	19	16	13	13	16	11	9	26	20	—	—	—	—
Net interest income	—	—	—	—	—	—	—	—	—	—	—	−26	−20	14	52	30	9
Income before tax	30	86	43	−103	−220	17	14	49	115	74	38	162	1,035	3,057	818	−518	−237
Income tax	0	13	3	10	1	—	1	7	17	12	10	28	170	577	166	−70	−21
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
Diluted shares (average)	21m	28m	35m	35m	35m	42m	52m	53m	55m	65m	70m	75m	77m	77m	75m	66m	67m
EBITDA	53	126	86	−51	−148	60	58	84	159	109	95	257	1,129	3,148	932	−358	−34

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Daqo NEW Energy Corp.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Daqo NEW Energy Corp.