Stock DQ DAQO NEW ENERGY CORP.
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Financials Daqo New Energy Corp.

Equities

DQ

US23703Q2030

Renewable Energy Equipment & Services

Market Closed - Nyse
Other stock markets
 04:00:02 2024-04-26 pm EDT 		5-day change 1st Jan Change
23.74 USD +0.76% Intraday chart for Daqo New Energy Corp. +7.37% -10.75%
Apr. 10 Solar, Telecoms Stocks Pull Asian Equities Traded in the US as American Depositary Receipts Lower on Wednesday MT
Apr. 01 Daqo New Energy's Profit Falls 70% as Revenue Tanks 47% MT

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 301 680 3,986 2,964 2,895 1,560 1,560 -
Enterprise Value (EV) 1 385.3 908.3 4,157 2,240 -364.1 -992.7 -999.4 -1,305
P/E ratio 7.99 x 24.3 x 33.3 x 4.09 x 1.62 x 4.73 x 6.37 x 3.8 x
Yield - - - - - 2.36% 1.56% 3.54%
Capitalization / Revenue 1 x 1.94 x 5.9 x 1.77 x 0.63 x 0.89 x 0.64 x 0.52 x
EV / Revenue 1.28 x 2.6 x 6.15 x 1.33 x -0.08 x -0.43 x -0.41 x -0.43 x
EV / EBITDA 3.2 x 9.53 x 16.2 x 1.98 x -0.12 x -1.08 x -1.43 x -1.07 x
EV / FCF 6.75 x -8.59 x 45.3 x 15.9 x -0.29 x -13.2 x 1.75 x -6.58 x
FCF Yield 14.8% -11.6% 2.21% 6.28% -345% -7.58% 57.1% -15.2%
Price to Book 0.47 x 1.23 x 5.61 x 1.38 x 0.6 x 0.31 x 0.28 x 0.27 x
Nbr of stocks (in thousands) 64,319 66,406 69,484 73,514 74,980 65,700 65,700 -
Reference price 2 4.680 10.24 57.36 40.32 38.61 23.74 23.74 23.74
Announcement Date 3/13/19 3/11/20 3/9/21 2/28/22 2/28/23 2/28/24 - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 301.6 350 675.6 1,679 4,608 2,309 2,434 3,019
EBITDA 1 120.4 95.3 256.5 1,133 3,151 918.6 697.6 1,222
EBIT 1 81.48 47.48 187.9 1,051 3,041 783.4 447.6 862.9
Operating Margin 27.02% 13.57% 27.81% 62.63% 65.98% 33.94% 18.39% 28.58%
Earnings before Tax (EBT) 1 73.79 37.89 162.1 1,035 3,057 818.5 484.7 892.9
Net income 1 38.12 29.52 129.2 756.2 1,860 421.2 255.8 435.7
Net margin 12.64% 8.44% 19.12% 45.05% 40.36% 18.24% 10.51% 14.43%
EPS 2 0.5860 0.4220 1.720 9.850 23.86 5.620 3.725 6.248
Free Cash Flow 1 57.07 -105.7 91.85 140.6 1,257 158.9 -570.9 198.3
FCF margin 18.92% -30.2% 13.6% 8.37% 27.28% 6.68% -23.45% 6.57%
FCF Conversion (EBITDA) 47.41% - 35.8% 12.41% 39.91% 15.81% - 16.23%
FCF Conversion (Net income) 149.7% - 71.09% 18.59% 67.6% 34.82% - 45.51%
Dividend per Share 2 - - - - - 0.5600 0.3700 0.8400
Announcement Date 3/13/19 3/11/20 3/9/21 2/28/22 2/28/23 2/28/24 - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2022 S2 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 441.4 585.8 395.5 1,280 1,244 1,220 864.3 2,084 709.8 636.7 484.8 477.1 491.9 557.8 730.3 823.3
EBITDA 1 311.7 441.8 251.1 826.8 955.4 720 - - 490.2 230 70.21 128.2 105.7 138.3 267.1 290.4
EBIT 1 292.4 421.7 228.1 796.9 927.6 693 623.1 1,316 463.8 213.9 22.47 83.29 54.7 83.7 208.9 228.6
Operating Margin 66.25% 71.99% 57.67% 62.24% 74.56% 56.82% 72.09% 63.15% 65.34% 33.59% 4.63% 17.46% 11.12% 15.01% 28.6% 27.77%
Earnings before Tax (EBT) 1 286 417.9 229.4 797 923.9 701 635 1,336 475.8 206.9 39.28 96.52 68.5 97.5 222.6 242.4
Net income 1 232.1 292.3 148.6 535.8 627.8 323.4 372.9 696.3 278.8 103.7 -6.312 44.95 42.2 56.1 128.2 139.6
Net margin 52.59% 49.9% 37.56% 41.85% 50.46% 26.52% 43.15% 33.41% 39.28% 16.29% -1.3% 9.42% 8.58% 10.06% 17.55% 16.96%
EPS 2 3.030 3.810 1.940 6.990 8.180 4.180 - - 3.520 1.340 -0.0900 0.6400 0.5600 0.8000 1.830 2.000
Dividend per Share - - - - - - - - - - - - - - - -
Announcement Date 8/18/21 10/28/21 2/28/22 4/21/22 8/3/22 10/27/22 2/28/23 2/28/23 4/27/23 8/3/23 10/30/23 2/28/24 - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 84.3 228 172 - - - - -
Net Cash position 1 - - - 724 3,259 3,048 2,559 2,865
Leverage (Debt/EBITDA) 0.7002 x 2.395 x 0.6688 x - - - - -
Free Cash Flow 1 57.1 -106 91.8 141 1,257 159 -571 198
ROE (net income / shareholders' equity) 8.32% 5.41% 19.4% 51.5% 53.1% 8.81% 5.16% 8.24%
ROA (Net income/ Total Assets) 4.75% 2.87% 10.6% 33% 34% 5.6% 3.78% 6.14%
Assets 1 801.9 1,028 1,220 2,291 5,468 7,518 6,763 7,096
Book Value Per Share 2 9.910 8.340 10.20 29.20 63.90 76.30 84.40 89.40
Cash Flow per Share 2 2.610 2.590 2.800 8.330 32.50 21.50 11.90 13.70
Capex 1 143 279 118 499 1,205 1,212 1,124 618
Capex / Sales 47.44% 79.73% 17.51% 29.69% 26.16% 50.94% 46.17% 20.48%
Announcement Date 3/13/19 3/11/20 3/9/21 2/28/22 2/28/23 2/28/24 - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Daqo New Energy Corp.

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
8
Last Close Price
23.74 USD
Average target price
29.45 USD
Spread / Average Target
+24.05%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Photovoltaic Solar Systems & Equipment

1st Jan change Capi.
DAQO NEW ENERGY CORP. Stock Daqo New Energy Corp.
-10.75% 1.56B
LONGI GREEN ENERGY TECHNOLOGY CO., LTD. Stock LONGi Green Energy Technology Co., Ltd.
-18.69% 19.47B
FIRST SOLAR, INC. Stock First Solar, Inc.
+3.74% 19.13B
ENPHASE ENERGY, INC. Stock Enphase Energy, Inc.
-15.29% 15.23B
TONGWEI CO.,LTD Stock Tongwei Co.,Ltd
-13.38% 13.47B
JINKO SOLAR CO., LTD. Stock Jinko Solar Co., Ltd.
-13.32% 10.6B
FLAT GLASS GROUP CO., LTD. Stock Flat Glass Group Co., Ltd.
+37.48% 7.64B
XINJIANG DAQO NEW ENERGY CO.,LTD. Stock Xinjiang Daqo New Energy Co.,Ltd.
-16.81% 7.26B
JA SOLAR TECHNOLOGY CO., LTD. Stock JA Solar Technology Co., Ltd.
-30.07% 6.63B
XINYI SOLAR HOLDINGS LIMITED Stock Xinyi Solar Holdings Limited
+16.23% 6.03B
Photovoltaic Solar Systems & Equipment
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