DQ
EnergyDaqo New Energy Corp. · Solar · $1B
What is Daqo New Energy Corp.?
Daqo New Energy Corp. is a Chinese manufacturer of high-purity polysilicon, a critical raw material for the global solar energy supply chain. The company sells primarily to photovoltaic product makers across China.
Daqo produces polysilicon that downstream manufacturers convert into solar ingots, wafers, cells, and modules. Its business is tightly linked to the health of the solar panel manufacturing industry in China. Revenue depends heavily on polysilicon pricing, which can swing sharply with supply and demand cycles. The company operates as a pure-play upstream supplier in the photovoltaic value chain, making it highly sensitive to commodity-like pricing dynamics.
Daqo New Energy was founded in 2006 and is headquartered in Shanghai, China.
- High-purity polysilicon for solar applications
- Feedstock supply for solar ingot and wafer producers
- Capacity-scale manufacturing for photovoltaic supply chains
Is DQ a Good Stock to Buy?
UQS Score rates DQ as Poor overall, reflecting meaningful structural challenges across several key pillars.
The Growth pillar stands out as the relative bright spot, suggesting the underlying demand environment for solar materials can still support expansion phases. The Risk and Valuation pillars both land at Neutral, meaning the stock does not appear to carry extreme near-term financial distress signals or an obviously stretched price relative to fundamentals.
Both the Quality and Moat pillars register as Weak — the two areas that matter most for long-term durability. This points to limited competitive differentiation and below-average business quality metrics.
See the exact pillar breakdown and full financial metrics by signing up for a UQS Pro account. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does DQ pay dividends?
No — Daqo New Energy Corp. does not currently pay a dividend.
Daqo New Energy does not currently pay a dividend. As a capital-intensive manufacturer operating in a cyclical commodity segment, the company has prioritized production capacity and operational scale over returning cash to shareholders. Investors seeking income from this sector may need to look elsewhere.
When does DQ report earnings?
Daqo New Energy reports earnings on a quarterly cadence, consistent with its listing on the New York Stock Exchange.
Results have reflected the volatile nature of polysilicon pricing, with revenue and profitability moving significantly alongside commodity cycles. Periods of oversupply in the Chinese solar materials market have weighed on margins industry-wide.
For the most recent quarter's results, visit Daqo New Energy's official investor relations page.
DQ Price History
-72.9% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Daqo New Energy Corp.?
Based on Daqo New Energy Corp.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
DQ Long-term Outlook
The fundamental outlook for DQ is mixed. The Good Growth pillar suggests the company can participate in rising solar demand over time, but the Weak Quality and Moat pillars indicate that translating growth into durable profitability remains a challenge. Neutral Risk and Valuation readings suggest the stock is neither in acute distress nor obviously mispriced, but the path to sustained value creation is uncertain given the commodity nature of polysilicon.
Growth drivers
- Global expansion of solar energy installations driving polysilicon demand
- Scale advantages from large-capacity manufacturing operations
- China's continued dominance in photovoltaic supply chain investment
Key risks
- Polysilicon price volatility driven by supply gluts or demand slowdowns
- Geopolitical and trade risks affecting Chinese solar exports
- Weak moat leaves the business exposed to low-cost competitors
DQ vs Peers
DQ operates in a different niche than most semiconductor-adjacent peers, but the following companies share exposure to specialty materials and advanced manufacturing markets.
SkyWater focuses on U.S.-based semiconductor foundry services, offering technology-differentiated chip manufacturing rather than commodity material supply.
ChipMOS provides semiconductor testing and assembly services, operating further down the electronics supply chain than Daqo's upstream polysilicon focus.
Wolfspeed specializes in silicon carbide power semiconductors, targeting electric vehicles and power electronics with proprietary materials technology.
Frequently Asked Questions
What does Daqo New Energy do?
Daqo New Energy manufactures high-purity polysilicon and sells it to solar panel component makers in China. Its material is used to produce ingots, wafers, cells, and modules that ultimately become solar panels. The company is a pure-play upstream supplier in the photovoltaic industry.
Does DQ pay dividends?
No, Daqo New Energy does not currently pay a dividend. The company operates in a capital-intensive manufacturing segment and has not established a dividend program. Investors focused on income may find the stock less suitable for that purpose.
When does DQ report earnings?
Daqo New Energy follows a quarterly earnings reporting schedule, standard for NYSE-listed companies. For exact upcoming dates, check the company's investor relations page directly, as our data source does not cover forward earnings calendars.
Is DQ a good stock to buy?
UQS Score rates DQ as Poor overall. While the Growth pillar shows relative strength and Risk and Valuation are Neutral, the Weak Quality and Moat scores highlight meaningful structural concerns. Investors should weigh these factors carefully before making a decision.
Is DQ overvalued?
The Valuation pillar for DQ is rated Neutral, suggesting the stock is not obviously expensive or cheap relative to its fundamentals at this time. However, valuation alone does not tell the full story — the Weak Quality and Moat pillars add important context.
How does DQ compare to its competitors?
DQ's closest listed peers in specialty materials and semiconductor manufacturing include SkyWater Technology, ChipMOS TECHNOLOGIES, and Wolfspeed. Each operates in a distinct niche. UQS Pro members can view side-by-side pillar comparisons across these names.
What is DQ's market cap bracket?
Daqo New Energy is classified as a small-cap stock. This places it in a tier that can offer growth potential but also carries higher volatility and liquidity risk compared to large- or mega-cap peers in the energy materials space.
Who founded Daqo New Energy?
Daqo New Energy was founded in 2006. The company was formerly known as Mega Stand International Limited before rebranding to its current name in August 2009. Founding details are widely available through the company's public filings and corporate history.
Is DQ a long-term quality investment?
As a long-term quality indicator, DQ's Poor UQS Score — driven by Weak Quality and Moat pillars — suggests limited structural durability at this time. Long-term investors typically seek companies with stronger competitive advantages and more consistent business quality metrics.
What is the main competitive advantage of Daqo New Energy?
Daqo competes primarily on manufacturing scale and cost efficiency within China's polysilicon market. However, the UQS Moat pillar rates the company as Weak, indicating that these advantages have not translated into a durable competitive position relative to peers.
What sector does DQ belong to?
Daqo New Energy is classified under the Technology sector in the UQS framework, reflecting its role as a materials technology supplier to the solar photovoltaic industry. Its business dynamics, however, share characteristics with commodity and energy materials markets.
Is DQ a growth stock or value stock?
Based on UQS pillar labels, DQ shows a Good Growth rating but a Neutral Valuation rating. This positions it as a company with growth potential that is not currently priced at an extreme premium or discount — though the weak quality profile complicates a straightforward growth or value classification.
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Pro Analysis
DQ — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 22, 2026 | 20.8 | 0.0 | 10.0 | 56.3 | 47.1 | 0.0 | +3.1 |
| May 10, 2026 | 17.7 | 0.0 | 10.0 | 40.6 | 47.1 | 0.0 | +1.5 |
| May 8, 2026 | 16.2 | 0.0 | 10.0 | 40.6 | 36.9 | 0.0 | -1.5 |
| May 4, 2026 | 17.7 | 0.0 | 10.0 | 40.6 | 47.1 | 0.0 | -0.5 |
| May 2, 2026 | 18.2 | 0.0 | 10.0 | 43.2 | 47.1 | 0.0 | -11.6 |
| May 1, 2026 | 29.8 | 0.0 | 10.0 | 58.3 | 47.1 | 57.3 | -0.9 |
| Apr 26, 2026 | 30.7 | 0.0 | 10.0 | 62.7 | 47.1 | 57.3 | -0.1 |
| Apr 19, 2026 | 30.8 | 0.0 | 10.0 | 62.7 | 47.1 | 57.9 | 0.0 |
| Apr 15, 2026 | 30.8 | 0.0 | 10.0 | 62.7 | 47.1 | 58.2 | -0.1 |
| Apr 14, 2026 | 30.9 | 0.0 | 10.0 | 62.7 | 47.1 | 58.7 | -0.1 |
DQ — Pillar Breakdown
Quality
— 0.0/100 (25%)Daqo New Energy Corp. currently shows below-average quality metrics, suggesting challenges with profitability.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Free cash flow relative to market value.
Growth
— 56.3/100 (20%)Daqo New Energy Corp. demonstrates healthy growth trends across revenue and earnings.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Risk
— 47.1/100 (15%)Daqo New Energy Corp. has some risk factors including moderate leverage or solvency concerns.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 0.0/100 (15%)Daqo New Energy Corp. appears expensively valued relative to its fundamentals and growth prospects.
Moat
— 10/100 (25%)Daqo New Energy Corp. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for DQ.
Score Composition
Financial Data
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How is the DQ UQS Score Calculated?
The UQS (Unified Quality Score) for Daqo New Energy Corp. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Daqo New Energy Corp.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Daqo New Energy Corp. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.