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DQ
Daqo New Energy Corp. · Energy - Solar Polysilicon
$14.18
-16.98% this month
VERSUS
⟷
COMPARE
JKS
JinkoSolar Holding Co., Ltd. · Energy - Solar Module Manufacturing
$19.42
-12.48% this month
Scoreboard verdict
Across AI score, momentum, valuation, upside, operating margin
DQ
3
JKS
1
Comparison scoreboard
DQ LEADS 3/5AI Score
DQ ✓38.9
JKS 25.2
1Y Return
DQ +0.28%
JKS ✓+3.68%
Fwd P/E
DQ ✓-12.96
JKS 25.95
Target Up.
DQ ✓+88.77%
JKS +59.76%
Op. Margin
DQ N/A
JKS N/A
Metrics last refreshed: 6/20/2026
Quick take
DQ vs JKS Stock Comparison: AI Score, Valuation, Performance and Upside
DQ (Daqo New Energy) is a polysilicon manufacturer at the upstream end of the solar supply chain, while JKS (JinkoSolar) is the world's largest downstream solar module maker — both are Chinese solar companies subject to polysilicon price cycles, solar module price deflation, and U.S. trade and regulatory risks.
DQ vs JKS is upstream polysilicon raw material versus downstream finished solar module — both linked to global solar demand growth but at different supply chain positions with distinct margin structures, price cycles, and trade risk profiles.
Live analysis · updated 6/20/2026
DQ holds the edge across 3 of 5 key metrics in this comparison. JKS has delivered stronger 1-year price return (+3.68% vs +0.28%), though DQ trades at the lower forward P/E (-12.96x vs 25.95x). Analyst consensus implies meaningfully more upside for DQ (+88.77%) than for JKS (+59.76%).
Normalized 1Y performance
DQ
JKS
Recent returns
DQ
JKS
Analyst price targets & sentiment
DQ · 7 analysts
STRONG BUYHOLDSTRONG SELL
Buy (1.9/5.0)
Price target range
analyst low$17.40
analyst high$35.50
analyst mean$26.77
current price$14.18
+88.8% upside to analyst mean
JKS · 8 analysts
Price target range
analyst low$19.00
analyst high$66.10
analyst mean$31.03
current price$19.42
+59.8% upside to analyst mean
Who should consider this stock?
DQ may suit investors who:
- →Want leveraged exposure to polysilicon price cycles and solar supply chain dynamics as the upstream raw material supplier
- →Value Daqo's low-cost manufacturing position and potential for high margins during polysilicon supply-constrained periods
- →Accept significant earnings cyclicality and Xinjiang regulatory risk in exchange for potential upside during solar supply-demand imbalance periods
JKS may suit investors who:
- →Want exposure to global solar module demand growth as the world's largest manufacturer shipping to utility, commercial, and residential markets globally
- →Value JinkoSolar's scale advantages in manufacturing efficiency and supply chain procurement versus smaller module competitors
- →See global solar demand as a multi-decade structural growth market where the largest volume manufacturer maintains competitive advantage
Performance & AI score
| Metric | DQ | JKS |
|---|---|---|
| AI score | 38.9 | 25.2 |
| AI rank | #1213 | #2851 |
| Latest close | $14.18 | $19.42 |
| 1M return | -16.98% | -12.48% |
| 6M return | -55.65% | -28.50% |
| 1Y return | +0.28% | +3.68% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | DQ | JKS |
|---|---|---|
| 1Y ago | $10.03K (+0.3%) started 2025-06-18 | $10.94K (+9.4%) started 2025-06-18 |
| 5Y ago | $2.34K (-76.6%) started 2021-06-18 | $7.11K (-28.9%) started 2021-06-18 |
| 10Y ago | $34.57K (+245.7%) started 2016-06-20 | $13.44K (+34.4%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | DQ | JKS |
|---|---|---|
| Market cap | $959.51M | $1.02B |
| Trailing P/E | N/A | N/A |
| Forward P/E | -12.96 | 25.95 |
| Price/Sales | 1.69 | 0.02 |
| EV/Revenue | 1.11 | 0.56 |
| Analyst target | $26.77 | $31.03 |
| Target upside | +88.77% | +59.76% |
Growth, profitability & risk
| Metric | DQ | JKS |
|---|---|---|
| Revenue growth | -78.40% | -11.50% |
| Earnings growth | N/A | N/A |
| EPS growth | N/A | N/A |
| FCF margin | -51.08% | N/A |
| Operating margin | N/A | N/A |
| Profit margin | -32.92% | -5.62% |
| ROIC proxy | -4.19% | -19.21% |
| Return on equity | -4.19% | -19.21% |
| Dividend yield | 0.00% | 7.63% |
| Beta | 0.62 | 0.43 |
| Debt/equity | N/A | 143.79 |
| Current ratio | 6.02 | 1.26 |
| Quick ratio | 4.43 | 0.68 |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
DQ max drawdown60.27%
JKS max drawdown42.90%
DQ max wkly drop18.06%
JKS max wkly drop21.24%
5Y risk snapshot
DQ max drawdown83.95%
JKS max drawdown79.24%
DQ max wkly drop28.28%
JKS max wkly drop31.01%
10Y risk snapshot
DQ max drawdown89.74%
JKS max drawdown82.09%
DQ max wkly drop38.67%
JKS max wkly drop34.16%
Performance metrics by period
| Period | Metric | DQ | JKS |
|---|---|---|---|
| 1Y | Growth | +0.28% | +3.68% |
| CAGR | +0.28% | +3.69% | |
| Sharpe ratio | 0.28 | 0.29 | |
| Max drawdown | 60.27% | 42.90% | |
| Max daily drop | 14.52% | 12.44% | |
| Max wkly drop | 18.06% | 21.24% | |
| 5Y | Growth | -76.56% | -40.68% |
| CAGR | -25.19% | -9.92% | |
| Sharpe ratio | -0.13 | 0.14 | |
| Max drawdown | 83.95% | 79.24% | |
| Max daily drop | 22.75% | 20.69% | |
| Max wkly drop | 28.28% | 31.01% | |
| 10Y | Growth | +245.69% | +12.06% |
| CAGR | +13.22% | +1.15% | |
| Sharpe ratio | 0.47 | 0.31 | |
| Max drawdown | 89.74% | 82.09% | |
| Max daily drop | 22.75% | 29.01% | |
| Max wkly drop | 38.67% | 34.16% |
Business comparison
| Category | DQ | JKS |
|---|---|---|
| Company | Daqo New Energy Corp. | JinkoSolar Holding Co., Ltd. |
| Sector | Energy - Solar Polysilicon | Energy - Solar Module Manufacturing |
| Industry | N/A | N/A |
| Core business | Daqo New Energy is a leading manufacturer of high-purity polysilicon in China, the essential feedstock for crystalline silicon solar cells and modules, operating large-scale polysilicon production facilities in Xinjiang and Inner Mongolia. | JinkoSolar is the world's largest solar module manufacturer by volume, producing high-efficiency solar panels for utility-scale, commercial, and residential solar projects globally, with manufacturing in China, Malaysia, Vietnam, and the United States. |
| Investor focus | Investors track Daqo's polysilicon production volume, average selling price per kilogram, cash cost per kilogram (production efficiency), gross margin, and polysilicon market balance as global solar demand and Chinese supply capacity evolve. | Investors track JinkoSolar's shipment volume growth, average selling price per watt, gross margin on modules, new market expansion (U.S., Europe, emerging markets), and competitive positioning versus other Chinese module manufacturers. |
DQ strengths
- →Low-cost polysilicon production through scale, technology improvements, and China's energy and labor cost advantages gives Daqo competitive margins
- →Polysilicon is a commoditized but essential solar supply chain input — capacity position determines pricing power during supply-constrained periods
- →Capital return to shareholders through buybacks has been deployed during periods of high polysilicon margins
JKS strengths
- →World's largest module manufacturer by volume provides scale in manufacturing, procurement, and logistics that smaller competitors cannot match
- →Global manufacturing diversification including non-Chinese facilities helps JinkoSolar navigate trade tariffs and UFLPA import restrictions
- →Technology leadership in high-efficiency TOPCon cells and bifacial modules provides premium product positioning
Risks to watch — DQ
- →Polysilicon is highly cyclical — supply capacity expansions by Daqo and Chinese competitors have historically led to significant price collapses after periods of high margins
- →Xinjiang sourcing controversy — Daqo's Xinjiang polysilicon operations have been subject to U.S. import restrictions under the Uyghur Forced Labor Prevention Act
- →Polysilicon prices collapsed from highs as massive capacity additions outpaced demand growth — margin and earnings volatility is high
Risks to watch — JKS
- →Solar module prices have experienced severe deflation as Chinese capacity massively exceeded demand — module prices fell over 50% from 2022 highs, crushing module manufacturer margins
- →U.S. trade policy (import duties, tariff investigations on Chinese solar products from third countries) creates supply chain complexity and potential volume restrictions
- →Chinese domestic solar market saturation and export competition among Chinese module makers creates intense pricing pressure at all cost structures
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