Daqo New Energy Corp. (DQ) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | -147.51M | 106.14M | 55.59M | -66.82M | -38.88M | -61.23M | -97.85M | -162.71M | -115.93M | 118.61M | 711.13M | -20.74M | 807.04M | 765.58M | 568.25M | 897.48M | 231.34M | -14.08M | 210.82M | 283.07M |
| Operating CF Margin % | -552.02% | 47.87% | 22.69% | -88.56% | -31.38% | -31.34% | -49.29% | -74.07% | -27.96% | 24.69% | 146.67% | -3.29% | 113.69% | 88.58% | 46.59% | 72.14% | 18.04% | -3.56% | 35.99% | 64.14% |
| Operating CF Growth % | -279.39% | 273.34% | 156.81% | 58.93% | 66.46% | -151.63% | -113.76% | -684.59% | -114.37% | -84.51% | 25.14% | -102.31% | 248.85% | 5537.32% | 169.55% | 217.05% | 45.34% | -110.16% | 772.62% | 1682.59% |
| Net Income | -121.67M | -7.28M | -14.94M | -76.75M | -71.94M | -180.18M | -76.93M | -157.86M | 15.47M | 45.26M | 17.84M | 103.72M | 278.8M | 332.73M | 545.82M | 780.48M | 536.58M | 141.28M | 292.72M | 232.1M |
| Depreciation & Amortization | 0 | -180.09M | 60.68M | 60.47M | 59.33M | 60.74M | 56.22M | 0 | 46.67M | 45.77M | 44.77M | 35.84M | 26.4M | 25.59M | 26.61M | 27.77M | 28.4M | 78.19M | 19.42M | -18.91M |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 20.27M | 0 | 0 | 20.57M | 0 | 50.29M | 30.82M | 31.4M | 44.63M | 266.96M | 2K | 0 | 2.36M | 0 | 2.4M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -70.08M | -95.05M | 0 | 0 | 0 | -293.57M | -27.77M | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 160.07M | 168.32M | 47.33M | 41.1M | 43.66M | 27.6M | 100.24M | 163.78M | 20.8M | 57.22M | 96.23M | 66.67M | 122.27M | 372.56M | 303.14M | 35.27M | 133.91M | 349.54M | 64.79M | 49.39M |
| Working Capital Changes | -185.91M | 125.2M | -37.48M | -91.63M | -69.94M | 10.35M | -177.37M | -168.63M | -219.45M | 40.44M | 597.06M | -257.79M | 348.16M | -9.94M | -280.71M | 81.74M | -467.54M | -585.44M | -166.11M | 18.1M |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 140.6M | 0 | 0 | 0 | -275.43M | 0 | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -275.77M | 308.19M | -106.25M | -132.51M | -211.01M | 269.26M | -65.94M | -1.49B | -190.48M | -241.66M | -458.59M | -226.81M | -268.89M | -393.05M | -525.02M | -250.72M | 170.38M | 73.89M | -600.34M | -175.56M |
| Capital Expenditures | -28.69M | -59.16M | -32.52M | -30.39M | -57.63M | -31.22M | -33.72M | -111.49M | -180.37M | -1.19B | 0 | 277.06M | -277.06M | -1.21B | 0 | 101.26M | -101.26M | -498.5M | 0 | 79.9M |
| CapEx % of Revenue | 107.37% | 26.69% | 13.28% | 40.27% | 46.51% | 15.98% | 16.99% | 50.75% | 43.5% | 247.05% | - | 43.98% | 39.03% | 139.47% | - | 8.14% | 7.9% | 126.03% | 35.99% | 18.1% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 1K | 0 | 300.48M | -32.21M | 47K | -10.12M | 931.47M | -458.59M | -503.87M | 8.17M | 812.28M | -525.02M | -351.98M | 0 | 572.4M | -600.34M | -255.46M |
| Cash from Financing | -7.79M | -818K | 15 | -32.08K | 0 | 1.14M | -5.54M | -36.96M | -6M | -193.39M | -124.53M | -537.34M | 59.87M | -5.78M | -101.41M | 1.58B | 0 | -5.41M | 778.7M | -68.8M |
| Debt Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -491.74M | -148M | -173.8M | 0 | -124.93M | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -522.13M | -148M | -173.8M | 0 | -124.93M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -7.79M | -818K | 15 | -32.08K | 0 | 1.14M | -5.54M | -36.96M | -6M | 298.35M | 23.47M | -363.54M | 59.87M | 119.15M | -101.41M | 1.58B | 0 | -5.41M | 778.7M | -68.8M |
| Net Change in Cash | -420.87M | 428.73M | -47.02M | -193.34M | -246.42M | 184.95M | -144.08M | -1.69B | -358.65M | -232.85M | 111.09M | -960.83M | 610.2M | 469.23M | -233.13M | 2.16B | 403.77M | 63.05M | 391.21M | 41.88M |
| Free Cash Flow | -176.2M | 46.98M | 23.06M | -97.2M | -96.51M | -92.45M | -131.57M | -274.15M | -296.3M | -992.13M | 711.13M | 256.32M | 529.98M | -439.75M | 568.25M | 998.75M | 130.08M | -512.59M | 0 | 362.98M |
| FCF Margin % | -659.39% | 21.19% | 9.42% | -128.83% | -77.89% | -47.32% | -66.28% | -124.8% | -71.46% | -206.52% | 146.67% | 40.69% | 74.66% | -50.88% | 46.59% | 80.28% | 10.15% | -129.59% | - | 82.24% |
| FCF Growth % | -82.57% | 150.81% | 117.53% | 64.54% | 67.43% | 90.68% | -118.5% | -206.96% | -155.91% | -125.61% | 25.14% | -74.34% | 307.42% | 14.21% | - | 175.16% | 49.52% | -438.39% | 100% | 1161.51% |
| FCF per Share | -2.60 | 0.70 | 0.34 | -1.45 | -1.46 | -1.39 | -1.98 | -4.15 | -4.51 | -14.19 | 9.60 | 3.33 | 6.72 | -5.27 | 7.41 | 13.01 | 1.70 | -6.68 | - | 4.73 |
| FCF Conversion (FCF/Net Income) | 1.67x | -14.58x | -3.72x | 0.87x | 0.54x | 0.34x | 1.61x | 1.36x | -7.50x | 2.62x | -112.66x | -0.20x | 2.89x | 2.30x | 1.76x | 1.43x | 0.43x | -0.10x | 0.72x | 1.22x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7.93M | 0 | 0 | 0 | 21.16M | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |