Demonstrações financeiras detalhadas de Daqo New Energy Corp. (DQ): demonstração de resultados, balanço patrimonial e fluxo de caixa. Acompanhe a evolução de margens, dívida, liquidez e rentabilidade ano a ano com até 20 anos de histórico.
Resumo da Análise
Daqo New Energy Corp. registou receitas de $665.4M no último exercício, com um CAGR de 5 anos de -0.3%.
Margens dos últimos 12 meses: margem bruta -35.4%, margem operacional -53.1%, margem líquida -34.5%.
Ao preço atual de $11.31, DQ apresenta lucros negativos (P/L não significativo) e um ROE de -4.38%. A capitalização de mercado é de $765M.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $229.1M | $352.9M | $301.6M | $350.0M | $675.6M | $1.68B | $4.61B | $2.31B | $1.03B | $665.4M |
| Custo da Receita | $148.7M | $209.4M | $203.5M | $269.9M | $441.6M | $581.6M | $1.20B | $1.39B | $1.24B | $803.3M |
| Lucro Bruto | $80.4M | $143.5M | $98.1M | $80.1M | $234.0M | $1.10B | $3.41B | $920.6M | -$212.9M | -$137.9M |
| P&D | $4.0M | $881000 | $2.7M | $5.3M | $6.9M | $6.5M | $10.0M | $10.1M | $4.6M | $2.6M |
| Despesas Gerais e Administrativas | $16.1M | $17.7M | $27.1M | $32.9M | $39.5M | $39.9M | $354.1M | $213.2M | $161.2M | $137.5M |
| Despesas Operacionais | $14.8M | $11.8M | $16.6M | $32.6M | $46.1M | $45.8M | $367.3M | $137.2M | $351.2M | $132.4M |
| Lucro Operacional | $65.4M | $128.7M | $81.5M | $47.5M | $187.9M | $1.05B | $3.04B | $783.4M | -$564.1M | -$270.2M |
| EBITDA | $86.4M | $156.1M | $107.2M | $94.9M | $256.5M | $1.13B | $3.12B | $967.4M | -$179.9M | $3.0M |
| Despesas com Juros | $12.7M | $16.3M | $10.8M | $10.4M | $26.6M | $20.5M | 0 | 0 | 0 | 0 |
| Lucro Antes de Impostos | $51.3M | $111.2M | $73.8M | $37.9M | $162.1M | $1.03B | $3.02B | $818.5M | -$518.1M | -$237.1M |
| Imposto | $7.4M | $17.3M | $11.7M | $9.6M | $28.2M | $162.8M | $537.1M | $165.6M | -$69.9M | -$21.1M |
| Lucro Líquido | $43.5M | $92.8M | $38.1M | $29.5M | $129.2M | $748.9M | $1.82B | $429.5M | -$345.2M | -$170.5M |
| LPA | $0.85 | $1.75 | $0.60 | $0.43 | $1.80 | $10.15 | $24.00 | $5.75 | $-5.20 | $-2.55 |
| LPA Diluído | $0.80 | $1.70 | $0.60 | $0.42 | $1.70 | $9.75 | $23.55 | $5.75 | $-5.20 | $-2.55 |
| Ações em Circulação (Diluídas) | $53.0M | $54.6M | $65.1M | $70.0M | $75.0M | $76.8M | $77.3M | $75.0M | $66.2M | $67.5M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $244.9M | $221.7M | $26.7M | $62.8M |
| Lucro Bruto | $9.7M | $15.4M | -$139.4M | -$82.8M |
| Lucro Operacional | -$23.2M | -$20.9M | -$150.8M | -$100.3M |
| EBITDA | $48.8M | $47.2M | -$80.4M | -$36.3M |
| Lucro Líquido | -$14.9M | -$7.3M | -$88.4M | -$81.3M |
| LPA | $-0.22 | $-0.11 | $-1.30 | $-1.20 |
| LPA Diluído | $-0.22 | $-0.11 | $-1.30 | $-1.20 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $16.0M | $60.7M | $65.4M | $51.8M | $76.6M | $723.8M | $3.50B | $3.04B | $1.01B | $980.3M |
| Investimentos de Curto Prazo | 0 | 0 | $21.8M | 0 | 0 | $280.3M | $13.9M | 0 | $1.10B | $1.09B |
| Contas a Receber | $19.4M | $21.5M | $10.1M | $5.7M | $282000 | $365.9M | $1.13B | $116.4M | $55.2M | $135.5M |
| Estoque | $12.3M | $19.6M | $15.4M | $39.3M | $49.2M | $327.8M | $169.5M | $173.3M | $149.9M | $169.1M |
| Ativos Circulantes | $73.3M | $142.4M | $160.1M | $174.3M | $180.3M | $1.74B | $4.89B | $3.58B | $2.63B | $2.69B |
| Imobilizado | $557.4M | $579.1M | $611.6M | $995.2M | $1.03B | $1.56B | $2.61B | $3.63B | $3.50B | $3.40B |
| Ágio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Intangíveis | $24.8M | $25.9M | $22.2M | $29.6M | $30.8M | $40.7M | $80.3M | $150.4M | $152.9M | $155.6M |
| Ativos Totais | $656.7M | $748.8M | $854.9M | $1.20B | $1.24B | $3.34B | $7.59B | $7.43B | $6.42B | $6.45B |
| Contas a Pagar | $18.7M | $19.3M | $9.2M | $12.7M | $19.0M | $81.5M | $81.9M | $92.9M | $26.4M | $129.7M |
| Dívida de Curto Prazo | $131.7M | $73.8M | $67.4M | $229.8M | $119.8M | 0 | $20.7M | 0 | $6.8M | 0 |
| Passivos Circulantes | $249.8M | $216.5M | $149.9M | $445.1M | $284.1M | $550.5M | $736.5M | $836.4M | $521.2M | $497.8M |
| Dívida de Longo Prazo | $111.9M | $111.4M | $133.3M | $151.5M | $123.2M | 0 | 0 | 0 | 0 | 0 |
| Passivos Totais | $385.0M | $354.3M | $329.8M | $634.2M | $440.2M | $679.8M | $989.5M | $978.6M | $560.4M | $529.2M |
| Reservas | $40.4M | $133.3M | $171.4M | $200.9M | $330.1M | $1.08B | $2.90B | $3.33B | $2.98B | 0 |
| Patrimônio Líquido | $270.1M | $391.7M | $525.1M | $566.6M | $767.1M | $2.16B | $4.81B | $4.76B | $4.36B | $4.41B |
| Dívida Total | $243.7M | $229.8M | $200.7M | $381.5M | $243.1M | 0 | $20.7M | 0 | $6.8M | 0 |
| Dívida Líquida | $227.7M | $169.1M | $113.5M | $329.6M | $166.5M | -$1.00B | -$3.49B | -$3.04B | -$2.10B | -$2.07B |
| Capital de Giro | -$176.4M | -$74.1M | $10.2M | -$270.8M | -$103.9M | $1.19B | $4.15B | $2.74B | $2.11B | $2.19B |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $551.6M | $980.3M | $559.4M | $555.3M |
| Ativos Totais | $6.34B | $6.45B | $6.34B | $6.34B |
| Passivos Totais | $497.3M | $529.2M | $449.6M | $478.0M |
| Patrimônio Líquido | $4.35B | $4.41B | $4.39B | $4.37B |
| Dívida Total | 0 | 0 | 0 | 0 |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | $43.9M | $93.9M | $62.1M | $28.3M | $133.9M | $864.8M | $2.52B | $429.5M | -$345.4M | -$171.0M |
| Depreciação e Amortização | $33.8M | $38.8M | $27.5M | $47.5M | $68.7M | $77.4M | $107.1M | $148.9M | $206.5M | $248.5M |
| Compensação em Ações | $2.7M | $4.2M | $13.8M | 0 | $17.9M | $10.1M | $307.4M | $149.8M | 0 | 0 |
| Variação Capital de Giro | $18.9M | $2.8M | -$25.6M | $3.0M | -$14.5M | -$318.8M | -$492.3M | $848.5M | -$463.6M | -$147.7M |
| Fluxo de Caixa Operacional | $98.7M | $142.7M | $95.6M | $102.8M | $209.7M | $639.0M | $2.47B | $1.62B | -$435.6M | $56.1M |
| CapEx | -$67.5M | -$67.8M | -$143.1M | -$279.5M | -$118.3M | -$508.3M | -$1.25B | -$1.19B | -$359.0M | -$179.5M |
| Aquisições | 0 | 0 | $444000 | $515397 | 0 | 0 | -$776000 | 0 | 0 | 0 |
| Recompra de Ações | 0 | 0 | 0 | 0 | 0 | 0 | -$124.9M | -$522.1M | -$12.7M | -$852248 |
| Dividendos Pagos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fluxo de Caixa Livre | $31.2M | $74.9M | -$47.5M | -$176.7M | $91.4M | $130.7M | $1.22B | $429.2M | -$794.6M | -$123.3M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $55.6M | $106.1M | -$147.5M | -$128.9M |
| CapEx | -$32.5M | -$59.2M | -$28.7M | -$26.5M |
| Fluxo de Caixa Livre | $23.1M | $47.0M | -$176.2M | -$155.3M |
| Dividendos Pagos | 0 | 0 | 0 | 0 |
| Compensação em Ações | 0 | 0 | 0 | 0 |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +54.0% | -14.5% | +16.0% | +93.0% | +148.5% | +174.5% | -49.9% | -55.4% | -35.3% |
| Crescimento Lucro Líquido (anual) | | +113.5% | -58.9% | -22.6% | +337.6% | +479.7% | +143.0% | -76.4% | -180.4% | +50.6% |
| Crescimento LPA (anual) | | +105.9% | -65.7% | -28.3% | +318.6% | +463.9% | +136.5% | -76.0% | -190.4% | +51.0% |
| Variação de Ações (anual) | | +3.1% | +19.3% | +7.5% | +7.2% | +2.3% | +0.7% | -3.0% | -11.7% | +2.1% |
| Crescimento FCF (anual) | | +140.0% | -163.5% | -272.0% | +151.7% | +43.0% | +830.5% | -64.7% | -285.1% | +84.5% |
| Margem Bruta | 35.1% | 40.7% | 32.5% | 22.9% | 34.6% | 65.4% | 74.0% | 39.9% | -20.7% | -20.7% |
| Margem Operacional | 28.6% | 36.5% | 27.0% | 13.6% | 27.8% | 62.6% | 66.0% | 33.9% | -54.8% | -40.6% |
| Margem EBITDA | 37.7% | 44.2% | 35.5% | 27.1% | 38.0% | 67.0% | 67.8% | 41.9% | -17.5% | 0.5% |
| Margem Líquida | 19.0% | 26.3% | 12.6% | 8.4% | 19.1% | 44.6% | 39.5% | 18.6% | -33.5% | -25.6% |
| Margem FCF | 13.6% | 21.2% | -15.8% | -50.5% | 13.5% | 7.8% | 26.4% | 18.6% | -77.2% | -18.5% |
| Taxa Efetiva de Imposto | 14.3% | 15.6% | 15.9% | 25.4% | 17.4% | 15.8% | 17.8% | 20.2% | 13.5% | 8.9% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $0.59 | $1.37 | $-0.73 | $-2.53 | $1.22 | $1.70 | $15.74 | $5.73 | $-12.01 | $-1.83 |
| Dividendo por Ação | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Ações em Circulação (Básicas) | $52.3M | $53.0M | $62.3M | $67.9M | $71.0M | $73.9M | $75.9M | $74.7M | $66.1M | $67.5M |
O que olhar em empresas de Technology
- Crescimento de receita 3a (≥15%/ano) — Valida tração sustentada, não um ano pontual.
- Margem bruta (Depende do sub-setor) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Receita (≥20%) — Caixa real gerada. Muitas tech maquilham lucros não-GAAP.
- ROIC (≥15%) — Eficiência do capital reinvestido — a primeira métrica de Buffett.
- SBC / Receita (<10% saudável) — Stock-based compensation. Diluição silenciosa: >20% destrói valor.
- Dívida Líquida / EBITDA (≤2x (1,5x SaaS)) — Resistência em recessões e subidas de juros.
Rentabilidade
| Retorno sobre patrimônio | -4.38% |
| Retorno sobre capital investido | -4.99% |
| Retorno sobre ativos | -3.03% |
| Margem bruta | -35.44% |
| Margem operacional | -53.08% |
| Margem líquida | -34.50% |
Saúde financeira
| Dívida / Patrimônio | 0.00 |
| Liquidez corrente | 5.81 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | 4.54 | 7.15 | 7.80 | 23.81 | 31.87 | 3.97 | 1.61 | 4.63 | -3.74 | -11.57 |
| P/VP | 0.75 | 1.69 | 0.56 | 1.23 | 5.31 | 1.38 | 0.61 | 0.42 | 0.29 | 0.45 |
| P/V | 0.88 | 1.88 | 0.97 | 1.99 | 6.03 | 1.77 | 0.64 | 0.86 | 1.25 | 2.99 |
| Margem Bruta | 35.1% | 40.7% | 32.5% | 22.9% | 34.6% | 65.4% | 74.0% | 39.9% | -20.7% | -20.7% |
| Margem Operacional | 28.6% | 36.5% | 27.0% | 13.6% | 27.8% | 62.6% | 66.0% | 33.9% | -54.8% | -40.6% |
| Margem Líquida | 19.0% | 26.3% | 12.6% | 8.4% | 19.1% | 44.6% | 39.5% | 18.6% | -33.5% | -25.6% |