Intrinsic value of Daqo New Energy ADR - DQ

Previous Close

$23.19

  Intrinsic Value

$771.46

stock screener

  Rating & Target

str. buy

+999%

Previous close

$23.19

 
Intrinsic value

$771.46

 
Up/down potential

+999%

 
Rating

str. buy

We calculate the intrinsic value of DQ stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  54.00
  49.10
  44.69
  40.72
  37.15
  33.93
  31.04
  28.44
  26.09
  23.98
  22.09
  20.38
  18.84
  17.46
  16.21
  15.09
  14.08
  13.17
  12.35
  11.62
  10.96
  10.36
  9.83
  9.34
  8.91
  8.52
  8.17
  7.85
  7.56
  7.31
Revenue, $m
  543
  810
  1,172
  1,650
  2,262
  3,030
  3,971
  5,100
  6,431
  7,973
  9,734
  11,717
  13,925
  16,355
  19,006
  21,874
  24,954
  28,241
  31,730
  35,417
  39,298
  43,369
  47,631
  52,081
  56,720
  61,551
  66,578
  71,804
  77,235
  82,879
Variable operating expenses, $m
  265
  395
  571
  803
  1,102
  1,476
  1,934
  2,484
  3,132
  3,883
  4,740
  5,706
  6,781
  7,965
  9,256
  10,653
  12,153
  13,753
  15,453
  17,248
  19,138
  21,121
  23,196
  25,363
  27,623
  29,976
  32,423
  34,968
  37,614
  40,362
Fixed operating expenses, $m
  54
  55
  57
  58
  59
  60
  62
  63
  64
  66
  67
  69
  70
  72
  73
  75
  77
  78
  80
  82
  84
  86
  87
  89
  91
  93
  95
  97
  100
  102
Total operating expenses, $m
  319
  450
  628
  861
  1,161
  1,536
  1,996
  2,547
  3,196
  3,949
  4,807
  5,775
  6,851
  8,037
  9,329
  10,728
  12,230
  13,831
  15,533
  17,330
  19,222
  21,207
  23,283
  25,452
  27,714
  30,069
  32,518
  35,065
  37,714
  40,464
Operating income, $m
  225
  360
  545
  788
  1,102
  1,494
  1,975
  2,553
  3,234
  4,024
  4,926
  5,942
  7,073
  8,318
  9,677
  11,146
  12,725
  14,409
  16,197
  18,087
  20,076
  22,163
  24,347
  26,628
  29,006
  31,483
  34,059
  36,738
  39,522
  42,415
EBITDA, $m
  285
  450
  674
  970
  1,351
  1,828
  2,413
  3,116
  3,944
  4,903
  6,000
  7,234
  8,609
  10,122
  11,773
  13,559
  15,476
  17,523
  19,696
  21,992
  24,409
  26,945
  29,599
  32,371
  35,261
  38,270
  41,401
  44,656
  48,039
  51,555
Interest expense (income), $m
  14
  17
  32
  53
  81
  117
  164
  224
  296
  383
  485
  604
  740
  892
  1,062
  1,249
  1,453
  1,674
  1,911
  2,164
  2,433
  2,716
  3,015
  3,328
  3,656
  3,999
  4,356
  4,728
  5,115
  5,517
  5,935
Earnings before tax, $m
  207
  328
  492
  708
  984
  1,330
  1,752
  2,257
  2,852
  3,539
  4,322
  5,203
  6,181
  7,256
  8,428
  9,693
  11,051
  12,498
  14,033
  15,654
  17,360
  19,148
  21,019
  22,972
  25,007
  27,127
  29,331
  31,623
  34,005
  36,480
Tax expense, $m
  56
  89
  133
  191
  266
  359
  473
  609
  770
  956
  1,167
  1,405
  1,669
  1,959
  2,275
  2,617
  2,984
  3,375
  3,789
  4,227
  4,687
  5,170
  5,675
  6,202
  6,752
  7,324
  7,919
  8,538
  9,181
  9,850
Net income, $m
  151
  240
  359
  517
  719
  971
  1,279
  1,648
  2,082
  2,583
  3,155
  3,798
  4,512
  5,297
  6,152
  7,076
  8,067
  9,124
  10,244
  11,428
  12,673
  13,978
  15,344
  16,769
  18,255
  19,802
  21,412
  23,085
  24,824
  26,631

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,154
  1,720
  2,489
  3,502
  4,804
  6,434
  8,431
  10,828
  13,653
  16,928
  20,666
  24,877
  29,564
  34,725
  40,353
  46,442
  52,981
  59,960
  67,367
  75,195
  83,434
  92,079
  101,126
  110,575
  120,425
  130,683
  141,354
  152,449
  163,981
  175,965
Adjusted assets (=assets-cash), $m
  1,154
  1,720
  2,489
  3,502
  4,804
  6,434
  8,431
  10,828
  13,653
  16,928
  20,666
  24,877
  29,564
  34,725
  40,353
  46,442
  52,981
  59,960
  67,367
  75,195
  83,434
  92,079
  101,126
  110,575
  120,425
  130,683
  141,354
  152,449
  163,981
  175,965
Revenue / Adjusted assets
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
  0.471
Average production assets, $m
  875
  1,304
  1,887
  2,656
  3,643
  4,879
  6,393
  8,211
  10,353
  12,837
  15,671
  18,865
  22,419
  26,332
  30,600
  35,218
  40,176
  45,468
  51,085
  57,021
  63,269
  69,825
  76,685
  83,850
  91,320
  99,098
  107,190
  115,604
  124,349
  133,436
Working capital, $m
  -89
  -133
  -192
  -271
  -371
  -497
  -651
  -836
  -1,055
  -1,308
  -1,596
  -1,922
  -2,284
  -2,682
  -3,117
  -3,587
  -4,092
  -4,632
  -5,204
  -5,808
  -6,445
  -7,113
  -7,811
  -8,541
  -9,302
  -10,094
  -10,919
  -11,776
  -12,667
  -13,592
Total debt, $m
  423
  693
  1,060
  1,543
  2,164
  2,942
  3,894
  5,038
  6,385
  7,947
  9,731
  11,739
  13,975
  16,436
  19,121
  22,026
  25,145
  28,473
  32,007
  35,741
  39,671
  43,795
  48,110
  52,617
  57,316
  62,208
  67,299
  72,591
  78,092
  83,808
Total liabilities, $m
  550
  821
  1,187
  1,671
  2,291
  3,069
  4,021
  5,165
  6,513
  8,075
  9,858
  11,867
  14,102
  16,564
  19,249
  22,153
  25,272
  28,601
  32,134
  35,868
  39,798
  43,922
  48,237
  52,744
  57,443
  62,336
  67,426
  72,718
  78,219
  83,935
Total equity, $m
  603
  900
  1,302
  1,832
  2,512
  3,365
  4,409
  5,663
  7,141
  8,853
  10,808
  13,011
  15,462
  18,161
  21,105
  24,289
  27,709
  31,359
  35,233
  39,327
  43,636
  48,157
  52,889
  57,830
  62,982
  68,347
  73,928
  79,731
  85,762
  92,030
Total liabilities and equity, $m
  1,153
  1,721
  2,489
  3,503
  4,803
  6,434
  8,430
  10,828
  13,654
  16,928
  20,666
  24,878
  29,564
  34,725
  40,354
  46,442
  52,981
  59,960
  67,367
  75,195
  83,434
  92,079
  101,126
  110,574
  120,425
  130,683
  141,354
  152,449
  163,981
  175,965
Debt-to-equity ratio
  0.700
  0.770
  0.810
  0.840
  0.860
  0.870
  0.880
  0.890
  0.890
  0.900
  0.900
  0.900
  0.900
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
Adjusted equity ratio
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  151
  240
  359
  517
  719
  971
  1,279
  1,648
  2,082
  2,583
  3,155
  3,798
  4,512
  5,297
  6,152
  7,076
  8,067
  9,124
  10,244
  11,428
  12,673
  13,978
  15,344
  16,769
  18,255
  19,802
  21,412
  23,085
  24,824
  26,631
Depreciation, amort., depletion, $m
  60
  89
  129
  182
  249
  334
  438
  562
  709
  879
  1,073
  1,292
  1,536
  1,804
  2,096
  2,412
  2,752
  3,114
  3,499
  3,906
  4,333
  4,783
  5,252
  5,743
  6,255
  6,788
  7,342
  7,918
  8,517
  9,139
Funds from operations, $m
  211
  329
  489
  699
  968
  1,305
  1,717
  2,210
  2,791
  3,463
  4,229
  5,090
  6,048
  7,101
  8,248
  9,488
  10,819
  12,238
  13,743
  15,333
  17,006
  18,761
  20,596
  22,512
  24,510
  26,590
  28,754
  31,003
  33,341
  35,770
Change in working capital, $m
  -31
  -44
  -59
  -78
  -101
  -126
  -154
  -185
  -218
  -253
  -289
  -325
  -362
  -399
  -435
  -470
  -505
  -539
  -572
  -605
  -636
  -668
  -699
  -730
  -761
  -792
  -824
  -857
  -891
  -926
Cash from operations, $m
  242
  373
  548
  777
  1,068
  1,431
  1,871
  2,395
  3,009
  3,716
  4,517
  5,415
  6,410
  7,499
  8,683
  9,959
  11,324
  12,777
  14,316
  15,938
  17,642
  19,428
  21,295
  23,242
  25,271
  27,382
  29,578
  31,860
  34,232
  36,696
Maintenance CAPEX, $m
  -39
  -60
  -89
  -129
  -182
  -249
  -334
  -438
  -562
  -709
  -879
  -1,073
  -1,292
  -1,536
  -1,804
  -2,096
  -2,412
  -2,752
  -3,114
  -3,499
  -3,906
  -4,333
  -4,783
  -5,252
  -5,743
  -6,255
  -6,788
  -7,342
  -7,918
  -8,517
New CAPEX, $m
  -307
  -430
  -583
  -769
  -987
  -1,236
  -1,514
  -1,818
  -2,142
  -2,483
  -2,835
  -3,193
  -3,554
  -3,913
  -4,268
  -4,617
  -4,959
  -5,292
  -5,617
  -5,936
  -6,248
  -6,556
  -6,861
  -7,165
  -7,470
  -7,778
  -8,092
  -8,414
  -8,745
  -9,087
Cash from investing activities, $m
  -346
  -490
  -672
  -898
  -1,169
  -1,485
  -1,848
  -2,256
  -2,704
  -3,192
  -3,714
  -4,266
  -4,846
  -5,449
  -6,072
  -6,713
  -7,371
  -8,044
  -8,731
  -9,435
  -10,154
  -10,889
  -11,644
  -12,417
  -13,213
  -14,033
  -14,880
  -15,756
  -16,663
  -17,604
Free cash flow, $m
  -103
  -117
  -124
  -121
  -100
  -55
  22
  140
  304
  523
  803
  1,149
  1,564
  2,051
  2,611
  3,245
  3,953
  4,733
  5,584
  6,503
  7,489
  8,539
  9,652
  10,825
  12,058
  13,349
  14,698
  16,104
  17,569
  19,091
Issuance/(repayment) of debt, $m
  193
  270
  367
  483
  621
  778
  953
  1,144
  1,348
  1,562
  1,783
  2,009
  2,236
  2,462
  2,685
  2,904
  3,119
  3,329
  3,534
  3,734
  3,930
  4,124
  4,315
  4,507
  4,699
  4,893
  5,090
  5,292
  5,501
  5,716
Issuance/(repurchase) of shares, $m
  60
  57
  43
  13
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  253
  327
  410
  496
  621
  778
  953
  1,144
  1,348
  1,562
  1,783
  2,009
  2,236
  2,462
  2,685
  2,904
  3,119
  3,329
  3,534
  3,734
  3,930
  4,124
  4,315
  4,507
  4,699
  4,893
  5,090
  5,292
  5,501
  5,716
Total cash flow (excl. dividends), $m
  151
  210
  285
  376
  521
  723
  975
  1,283
  1,652
  2,085
  2,586
  3,157
  3,799
  4,512
  5,296
  6,150
  7,072
  8,062
  9,117
  10,237
  11,419
  12,663
  13,967
  15,332
  16,757
  18,242
  19,788
  21,397
  23,069
  24,808
Retained Cash Flow (-), $m
  -212
  -296
  -402
  -530
  -680
  -853
  -1,044
  -1,254
  -1,478
  -1,713
  -1,955
  -2,202
  -2,451
  -2,699
  -2,944
  -3,184
  -3,420
  -3,650
  -3,874
  -4,094
  -4,309
  -4,521
  -4,732
  -4,941
  -5,152
  -5,365
  -5,581
  -5,803
  -6,031
  -6,267
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -61
  -86
  -117
  -154
  -160
  -130
  -69
  29
  174
  373
  631
  955
  1,348
  1,813
  2,352
  2,965
  3,652
  4,412
  5,243
  6,143
  7,110
  8,141
  9,236
  10,391
  11,605
  12,877
  14,207
  15,594
  17,038
  18,540
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  -59
  -79
  -102
  -127
  -124
  -94
  -47
  18
  100
  195
  300
  407
  513
  609
  691
  754
  795
  813
  807
  781
  735
  676
  605
  529
  451
  376
  305
  241
  186
  140
Current shareholders' claim on cash, %
  81.9
  72.2
  67.6
  66.7
  66.7
  66.7
  66.7
  66.7
  66.7
  66.7
  66.7
  66.7
  66.7
  66.7
  66.7
  66.7
  66.7
  66.7
  66.7
  66.7
  66.7
  66.7
  66.7
  66.7
  66.7
  66.7
  66.7
  66.7
  66.7
  66.7

Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company's segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions. The Company offers ready-to-use polysilicon, packaged to meet crucible stacking, pulling and solidification needs. The Company offers wafers through its downstream photovoltaic product manufacturing business. The Company also provides wafer original equipment manufacturer (OEM) service to external customers through tolling agreements by processing polysilicon to produce ingot and wafer. Its annual capacity for polysilicon is approximately 12,150 metric tons (MT) in Xinjiang. The Company's wafer manufacturing annual capacity is approximately 90 million pieces.

FINANCIAL RATIOS  of  Daqo New Energy ADR (DQ)

Valuation Ratios
P/E Ratio 141.8
Price to Sales 26.6
Price to Book 22.6
Price to Tangible Book
Price to Cash Flow 61.6
Price to Free Cash Flow 190.6
Growth Rates
Sales Growth Rate 25.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -17.3%
Cap. Spend. - 3 Yr. Gr. Rate 15.2%
Financial Strength
Quick Ratio 0
Current Ratio 0.1
LT Debt to Equity 41.9%
Total Debt to Equity 90.4%
Interest Coverage 5
Management Effectiveness
Return On Assets 8.4%
Ret/ On Assets - 3 Yr. Avg. 5.8%
Return On Total Capital 8.5%
Ret/ On T. Cap. - 3 Yr. Avg. 5%
Return On Equity 16.9%
Return On Equity - 3 Yr. Avg. 10.9%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 34.9%
Gross Margin - 3 Yr. Avg. 26.4%
EBITDA Margin 43.2%
EBITDA Margin - 3 Yr. Avg. 36.5%
Operating Margin 28.4%
Oper. Margin - 3 Yr. Avg. 20.1%
Pre-Tax Margin 22.3%
Pre-Tax Margin - 3 Yr. Avg. 13.1%
Net Profit Margin 18.8%
Net Profit Margin - 3 Yr. Avg. 11.7%
Effective Tax Rate 13.7%
Eff/ Tax Rate - 3 Yr. Avg. 7%
Payout Ratio 0%

DQ stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the DQ stock intrinsic value calculation we used $352.852151 million for the last fiscal year's total revenue generated by Daqo New Energy ADR. The default revenue input number comes from 0001 income statement of Daqo New Energy ADR. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our DQ stock valuation model: a) initial revenue growth rate of 54% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for DQ is calculated based on our internal credit rating of Daqo New Energy ADR, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Daqo New Energy ADR.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of DQ stock the variable cost ratio is equal to 48.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $53 million in the base year in the intrinsic value calculation for DQ stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 7.6% for Daqo New Energy ADR.

Corporate tax rate of 27% is the nominal tax rate for Daqo New Energy ADR. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the DQ stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for DQ are equal to 161%.

Life of production assets of 14.6 years is the average useful life of capital assets used in Daqo New Energy ADR operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for DQ is equal to -16.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $391.735587 million for Daqo New Energy ADR - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 9.233 million for Daqo New Energy ADR is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Daqo New Energy ADR at the current share price and the inputted number of shares is $0.2 billion.

RELATED COMPANIES Price Int.Val. Rating
JKS JinkoSolar Hol 9.08 13.02  hold

COMPANY NEWS

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▶ Daqo: 1Q Earnings Snapshot   [May-08-18 11:11AM  Associated Press]
▶ Anatomy of Success: Daqo New Energy (DQ)   [May-01-18 04:31PM  Zacks]
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▶ Top Cheap Stocks This Week   [10:02AM  Simply Wall St.]
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▶ Daqo posts 4Q profit   [08:09AM  Associated Press]

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