DQ
Daqo New Energy Corp.
DQ lost money over the past year, so it has no meaningful PE right now. Analysts expect losses to shrink.
DQ Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Under pressure | |
| Weak | |
| Strong |
DQ's balance sheet is currently strong, but its revenue, profitability and cash flow are under pressure.
DQ PE Valuation
DQ has no meaningful PE right now: it lost money over the past year.
DQ Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect DQ's losses to shrink, with revenue growing.
DQ Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$3.41 | +$1.76 |
| Q2 2026 | -$2.83 | +$3.02 |
| Q1 2026 | -$2.78 | +$3.72 |
| Q4 2025 | -$2.57 | +$2.60 |
| Q3 2025 | -$5.17 | -$3.36 |
| Q2 2025 | -$5.85 | -$4.85 |
| Q1 2025 | -$6.50 | -402% |
| Q4 2024 | -$5.17 | -195% |
DQ is still losing money, but less than at its worst: $3.41 per share over the past year, against $6.50 at its worst in early 2025.
DQ Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $194.7M | -21% |
| Q2 2026 | $62.8M | -17% |
| Q1 2026 | $26.7M | -78% |
| Q4 2025 | $221.7M | +13% |
| Q3 2025 | $244.9M | +23% |
| Q2 2025 | $75.5M | -66% |
| Q1 2025 | $123.9M | -70% |
| Q4 2024 | $195.4M | -59% |
DQ's revenue has slid since its 2022 peak: $195M last quarter, down 21% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -41% | -32 points |
| Q2 2026 | -160% | -7.7 points |
| Q1 2026 | -564% | -472 points |
| Q4 2025 | -9.4% | +145 points |
| Q3 2025 | -9.5% | +40 points |
| Q2 2025 | -152% | -62 points |
| Q1 2025 | -92% | -100 points |
| Q4 2024 | -154% | -164 points |
DQ's operating margin was −41% last quarter, down 31 points from the same quarter a year ago.
DQ Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $31.2M | +35% |
| Q2 2026 | -$155.3M | -$58.1M |
| Q1 2026 | -$176.2M | -$79.7M |
| Q4 2025 | $47M | +$139.4M |
| Q3 2025 | $23.1M | +$154.6M |
| Q2 2025 | -$97.2M | +$176.9M |
| Q1 2025 | -$96.5M | +$199.8M |
| Q4 2024 | -$92.5M | +$899.7M |
DQ's free cash flow was −$253M over the past year, against −$263M the year before.
DQ Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | +0.2% | +119K shares |
| 3 years | -8.6% | -6.4M shares |
| 5 years | -12% | -9M shares |
| Available history | -5.2% | -3.7M shares |
DQ has 68M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
DQ hasn't bought back shares in the past year.
DQ Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2025 | -88.8x | Net Cash |
| Q3 2024 | -13.5x | Net Cash |
| Q2 2024 | -5.5x | Net Cash |
| Q1 2024 | -4.8x | Net Cash |
| Q4 2023 | -3.1x | Net Cash |
| Q3 2023 | -2.3x | Net Cash |
| Q2 2023 | -1.5x | Net Cash |
| Q1 2023 | -1.4x | Net Cash |
DQ has more cash than debt.
DQ Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 39.5 | Neutral |
| Stochastic | 32.4 | Neutral |
DQ's weekly RSI is 40 (neutral) and its Stochastic is 32 (neutral).
DQ PE vs Technology Sector
| Metric | DQ | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
DQ has no meaningful PE right now: it lost money over the past year.
DQ Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $11.1 | 3.1% above |
| 20 week MA | $12.1 | 5.5% below |
| 50 week MA | $18.5 | 38% below |
| 100 week MA | $19.7 | 42% below |
| 200 week MA | $24.1 | 53% below |
DQ has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 53% below its 200-week average.
DQ Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.3 | $54.8 | +430% |
| 2021 | $54.8 | $38.9 | -29% |
| 2022 | $38.9 | $40.5 | +4.1% |
| 2023 | $40.5 | $26.6 | -34% |
| 2024 | $26.6 | $19.3 | -28% |
| 2025 | $19.3 | $31.8 | +65% |
| 2026 YTD | $31.8 | $11.4 | -64% |
DQ has finished lower in three of the last six years. It's down 64% so far in 2026.