DQ FY 2023 Earnings Report — Daqo New Energy Corp. Revenue & Financial Results | Market Cap Arena

Daqo New Energy Corp.DQ

FY 2023 Earnings

Reported April 29, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$2.3B	—	—	—	—
Op. Income	$783M	—	—	—	—
Gross Margin	39.9%	—	—	—	—
Net Margin	18.6%	—	—	—	—
EPS (Diluted)	$5.75	—	—	—	—
Free Cash Flow	$429M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$1.4B
GROSS PROFIT	$921M
R&D Expenses	$10M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$213M
Other Expenses	-$86M
Operating Expenses	$137M
Cost & Expenses	$1.5B
OPERATING INCOME	$783M
Interest Income	$52M
Interest Expense	$0
Other Income/Expenses	$35M
INCOME BEFORE TAX	$818M
Income Tax Expense	$166M
Net Income from Continuing Ops	$653M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$430M
Net Income Deductions	$237.0K
BOTTOM LINE NET INCOME	$429M
D&A	$149M
EBIT	$783M
EBITDA	$932M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$1.4B
GROSS PROFIT	$921M
R&D Expenses	$10M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$213M
Other Expenses	-$86M
Operating Expenses	$137M
Cost & Expenses	$1.5B
OPERATING INCOME	$783M
Interest Income	$52M
Interest Expense	$0
Other Income/Expenses	$35M
INCOME BEFORE TAX	$818M
Income Tax Expense	$166M
Net Income from Continuing Ops	$653M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$430M
Net Income Deductions	$237.0K
BOTTOM LINE NET INCOME	$429M
D&A	$149M
EBIT	$783M
EBITDA	$932M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$430M
Depreciation & Amortization	$149M
Stock-Based Compensation	$150M
Deferred Income Tax	$0
Other Non-Cash Items	$39M
Change in Working Capital	$849M
OPERATING CASH FLOW	$1.6B
Capital Expenditure	-$1.2B
Acquisitions (Net)	$0
Purchases of Investments	-$27M
Sales/Maturities of Investments	$14M
Other Investing Activities	-$72M
NET CASH FROM INVESTING	-$1.2B
Net Debt Issuance	$0
Common Stock Repurchased	-$522M
Common Dividends Paid	$0
Other Financing Activities	-$304M
NET CASH FROM FINANCING	-$795M
FREE CASH FLOW	$429M
Net Change in Cash	-$472M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.0B
Short-Term Investments	$0
Net Receivables	$116M
Inventory	$173M
Other Current Assets	$225M
TOTAL CURRENT ASSETS	$3.6B
PP&E (Net)	$3.6B
Goodwill	$0
Intangible Assets	$150M
Long-Term Investments	$25M
Tax Assets	$3M
Other Non-Current Assets	$45M
TOTAL NON-CURRENT ASSETS	$3.9B
TOTAL ASSETS	$7.4B
Account Payables	$93M
Short-Term Debt	$0
Deferred Revenue	$149M
Other Current Liabilities	$519M
TOTAL CURRENT LIABILITIES	$836M
Long-Term Debt	$0
Deferred Revenue NC	$114M
Deferred Tax Liabilities	$10M
Other Non-Current Liabilities	$18M
TOTAL NON-CURRENT LIABILITIES	$142M
TOTAL LIABILITIES	$979M
Common Stock	$41.0K
Additional Paid-In Capital	$2.3B
Retained Earnings	$3.3B
Treasury Stock	-$613M
Accum. Other Comp. Income	-$294M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.8B
Minority Interest	$1.7B
TOTAL EQUITY	$6.4B
TOTAL LIABILITIES & EQUITY	$7.4B
Total Debt	$0
Net Debt	-$3.0B