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Daqo New Energy ( (DQ) ) has provided an update.
On February 26, 2026, Daqo New Energy reported unaudited results for the fourth quarter and full year 2025, showing higher polysilicon production efficiency but continued losses amid a still-weak pricing environment. In Q4 2025, production jumped to 42,181 MT and total cash and liquid balances rose to $2.27 billion, while revenue slipped to $221.7 million and net loss narrowed to $7.3 million, with gross margin improving to 7.0% and EBITDA margin climbing to 23.7%.
For full year 2025, Daqo’s polysilicon output fell 39.7% to 123,652 MT and revenue dropped to $665.4 million as average selling prices declined and volumes shrank, yet the company sharply reduced its net loss to $170.5 million from $345.2 million in 2024. Management highlighted that China’s 2025 anti-involution policies and a late-year rebound in solar product prices helped lift utilization rates and restore positive EBITDA and operating cash flow, signaling an operational turnaround but underscoring ongoing pricing and demand challenges for stakeholders in the solar materials supply chain.
The most recent analyst rating on (DQ) stock is a Hold with a $23.50 price target. To see the full list of analyst forecasts on Daqo New Energy stock, see the DQ Stock Forecast page.
Spark’s Take on DQ Stock
According to Spark, TipRanks’ AI Analyst, DQ is a Neutral.
The score is driven primarily by mixed fundamentals: a very strong, low-debt balance sheet and improving operations, but profitability and free cash flow remain negative. Technicals are also weak (below key moving averages with negative MACD), while valuation is hard to support due to losses. Earnings-call guidance and cost reductions provide a moderate positive offset, but execution and pricing risk remain key.
To see Spark’s full report on DQ stock, click here.
More about Daqo New Energy
Daqo New Energy Corp., listed on the NYSE, is a leading Chinese manufacturer of high-purity polysilicon used in the global solar photovoltaic industry. The company focuses on supplying polysilicon to solar product makers worldwide, positioning itself as a key upstream player in the solar PV value chain with large-scale production facilities in China.
Average Trading Volume: 713,396
Technical Sentiment Signal: Sell
Current Market Cap: $1.61B
For a thorough assessment of DQ stock, go to TipRanks’ Stock Analysis page.