Daqo New Energy Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	568.22	665.42	1,029	2,308	4,608	1,679
Revenue Growth (YoY)	-22.97%	-35.34%	-55.41%	-49.92%	174.50%	148.49%
Cost of Revenue	763.9	803.27	1,242	1,387	1,200	581.59
Gross Profit	-195.68	-137.85	-212.93	920.65	3,408	1,097
Selling, General & Admin	95.3	118.22	143.09	213.24	354.07	39.9
Research & Development	2.86	2.58	4.56	10.12	10.04	6.5
Other Operating Expenses	25.44	25.42	183.89	86.14	-3.18	0.61
Operating Income	-306.99	-270.24	-564.09	783.43	3,041	1,051
Interest Income	4.54	-	-	-	14.47	-
Other Non-Operating Income (Expense)	27.03	33.12	46.03	35.04	1.79	-16.47
Total Non-Operating Income (Expense)	31.57	33.12	46.03	35.04	16.26	-16.47
Pretax Income	-275.42	-237.12	-518.06	818.47	3,057	1,035
Provision for Income Taxes	-30.4	-21.03	-69.91	165.59	577.25	170.1
Net Income	-187.05	-170.51	-345.22	429.55	1,820	748.92
Minority Interest in Earnings	-57.97	-45.57	-102.94	223.34	659.84	115.92
Net Income to Common	-187.05	-170.51	-345.22	429.55	1,820	748.92
Net Income Growth	-	-	-	-76.40%	142.99%	479.69%
Shares Outstanding (Basic)	68	67	66	75	76	74
Shares Outstanding (Diluted)	68	67	66	75	77	77
Shares Change (YoY)	1.60%	1.80%	-11.74%	-3.01%	0.70%	2.33%
EPS (Basic)	-2.78	-2.55	-5.20	5.75	24.00	10.15
EPS (Diluted)	-2.78	-2.55	-5.20	5.75	23.35	9.75
EPS Growth	-	-	-	-75.38%	139.49%	473.53%
Shares Outstanding	67.67	67.67	66.75	65.7	78.2	74.51
Free Cash Flow	-203.04	-123.35	-794.25	505.3	1,257	140.48
Free Cash Flow Growth	-	-	-	-59.81%	794.99%	53.68%
Free Cash Flow Per Share	-3.01	-1.83	-12.01	6.74	16.27	1.83
Gross Margin	-34.44%	-20.72%	-20.69%	39.89%	73.95%	65.36%
Operating Margin	-54.03%	-40.61%	-54.82%	33.95%	65.98%	62.63%
Profit Margin	-43.12%	-32.47%	-43.55%	28.29%	53.81%	51.52%
FCF Margin	-35.73%	-18.54%	-77.18%	21.90%	27.28%	8.37%
EBITDA	-306.99	-30.2	-354.42	934.69	3,149	1,130
EBITDA Margin	-54.03%	-4.54%	-34.44%	40.50%	68.33%	67.29%
EBIT	-306.99	-270.24	-564.09	783.43	3,041	1,051
EBIT Margin	-54.03%	-40.61%	-54.82%	33.95%	65.98%	62.63%
Effective Tax Rate	11.04%	8.87%	13.49%	20.23%	18.88%	16.44%

Updated Mar 31, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.