Daqo New Energy Corp.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $665.4M | $1.03B | $2.31B | $4.61B | $1.68B | $675.6M | $350.0M | $301.6M |
| Cost of Revenue | $803.3M | $1.24B | $1.39B | $1.20B | $581.6M | $441.6M | $269.9M | $203.5M |
| Gross Profit | $-137.9M | $-212.9M | $920.7M | $3.41B | $1.10B | $234.0M | $80.1M | $98.1M |
| Gross Margin | -20.7% | -20.7% | 39.9% | 74.0% | 65.4% | 34.6% | 22.9% | 32.5% |
| Operating Expenses | ||||||||
| Research & Development | $2.6M | $4.6M | $10.1M | $10.0M | $6.5M | $6.9M | $5.7M | $2.7M |
| SG&A Expense | $118.2M | $143.1M | $213.2M | $354.1M | $39.9M | $39.5M | $32.5M | $27.1M |
| Operating Income | $-270.2M | $-564.1M | $783.4M | $3.04B | $1.05B | $187.9M | $47.5M | $81.2M |
| Operating Margin | -40.6% | -54.8% | 33.9% | 66.0% | 62.6% | 27.8% | 13.6% | 26.9% |
| Interest Expense | — | — | — | — | $20.5M | $25.7M | $9.4M | $10.8M |
| Pretax Income | $-237.1M | $-518.1M | $818.5M | $3.06B | $1.03B | $162.1M | $37.9M | $73.5M |
| Income Tax Expense | $-21.0M | $-69.9M | $165.6M | $577.2M | $170.1M | $28.2M | $9.6M | $11.7M |
| Net Income | $-170.5M | $-345.2M | $429.5M | $1.82B | $748.9M | $129.2M | $29.5M | $38.1M |
| Net Margin | -25.6% | -33.5% | 18.6% | 39.5% | 44.6% | 19.1% | 8.4% | 12.6% |
| EPS (Basic) | $-0.51 | $-1.04 | $1.15 | $4.80 | $2.03 | $0.36 | $0.09 | $0.12 |
| EPS (Diluted) | $-0.51 | $-1.04 | $1.15 | $4.67 | $1.95 | $0.34 | $0.08 | $0.12 |
| Shares Outstanding (Basic) | 336.8M | 330.8M | 373.6M | 379.4M | 369.3M | 355.1M | 339.6M | 311.7M |
| Shares Outstanding (Diluted) | 336.8M | 330.8M | 374.8M | 386.5M | 383.8M | 375.0M | 350.0M | 325.5M |
| Dividends Per Share | — | — | — | — | — | — | — | — |