DQDaqo New Energy Corp.
Is the business good?
Margins widening. That is the only one of 4 checks this filer's data supports, so take it as a single data point rather than a settled answer.
Operating margin has widened over the past few years, the business is getting more profitable per dollar of sales.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is DQ?
Daqo New Energy Corp. earns −5.8% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 15 points below what the capital costs: growth destroys value
- Operating margin
- −41%
Operating margin · Semiconductor Equipment & Materials median 11% · fiscal year to FY2025
- Share count, year on year
- +1.8%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 0.39%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | 28% |
| FY2021 | 63% |
| FY2022 | 66% |
| FY2023 | 34% |
| FY2024 | −55% |
| FY2025 | −41% |
Details›
- Gross marginfiscal year to FY2025
- −21%
- Operating marginfiscal year to FY2025
- −41%
- Net marginfiscal year to FY2025
- −26%
- Free cash flow margin
- −19%
- R&D as % of revenue
- 0.39%
- Revenue, trailing twelve months
- $665M
- Free cash flow, trailing twelve months
- −$123M
- Net income, trailing twelve months
- −$171M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −5.8%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Semiconductor Equipment & Materials
The closest names by size in the same industry