Symbols

DQ

Daqo New Energy·NYSE

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DQ fundamentals

DQ Q4 2025 Earnings

Daqo New Energy (DQ) released its earnings on Mar 2, 2026: revenue was 221.71M (YoY +13.49%), missed estimates; EPS was -0.11 (YoY +95.94%), beat estimates.

Revenue / YoY

221.71M

+13.49%

EPS / YoY

-0.11

+95.94%

Report date

Mar 2, 2026

DQ Earnings Call Summary for Q4,2025

Revenue Recovery: 2025 revenue $665 million (down 36% YoY) driven by cost-cutting and market recovery. Q4 gross margin improved to 7% (vs. -33% YoY).
Cost Efficiency: Q4 cash costs hit record low $4.46/kg, with total production costs down 9% YoY. EBITDA turned positive at $1.7 million.
Policy Impact: China's anti-involution policies reduced industry overcapacity by 28.4% in 2025, driving price recovery to RMB 50-56/kg.
2026 Outlook: Free cash flow expected to improve, with capital expenditures $100-150 million. Share buybacks contingent on policy clarity.
Price Stability: Q1-Q2 2026 ASPs expected to stabilize at RMB 53-54/kg, supported by anti-involution enforcement.

Earnings

EPS

Revenue

Revenue & Expenses

DQ has released its 2025 Q4 earnings report, with revenue of 221.71M, reflecting a YoY change of 13.49%, and net profit of -9.86M, showing a YoY change of 95.92%. The Sankey diagram below clearly presents DQ's revenue sources and cost distribution.

Key Indicators

Daqo New Energy (DQ) key financial stats and ratios, covering profitability, financial health, and leverage.

Income Statement

Daqo New Energy (DQ)'s revenue and profit trends over recent years, visualized with a waterfall chart to showcase the revenue-to-profit funnel.

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Balance Sheet

Daqo New Energy (DQ)'s asset and liability trends over recent years, visualized with a waterfall chart to illustrate changes in its asset-liability structure.

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Cash Flow

Daqo New Energy (DQ)'s cash flow trends over recent years, visualized with a waterfall chart to illustrate changes in its operating, investing, and financing cash flows.

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