Daqo New Energy vs Calumet

This page compares Daqo New Energy and Calumet, outlining their business models, financial performance, and the market context in which they operate. It presents information in a neutral, accessible way to help readers understand the similarities and differences between the two companies. Educational content, not financial advice.

This page compares Daqo New Energy and Calumet, outlining their business models, financial performance, and the market context in which they operate. It presents information in a neutral, accessible w...

Comparison Snapshot

Key Financial Metrics

DQ

Metric

CLMT

$1.65B

Market Cap

$1.79B

27.32%

Potential Profit

5.17%

Buy

Analyst Rating

Buy

Investment Analysis

Daqo New Energy

DQ

Pros

Daqo New Energy reported a 226% year-over-year revenue increase to $244.6 million in Q3 2025, surpassing forecasts significantly.
The company improved gross margin substantially from negative 108% to 3.9%, indicating progress towards profitability.
Strong cash and short-term investments of $983 million provide a solid financial position and liquidity.

Considerations

Despite revenue growth, Daqo New Energy posted a negative trailing twelve-month earnings of -$343.42 million, showing ongoing unprofitability.
The company’s net profit margin remains deeply negative at -53.74%, reflecting high costs relative to revenue.
Production capacity utilisation is still moderate at 40%, indicating potential inefficiencies or underutilised resources.

Calumet

CLMT

Pros

Calumet Specialty Products showed a diversified portfolio in specialty refined products, helping mitigate crude oil price volatility.
Strong operational focus on refining and specialty products creates high barriers to entry and potential for premium margins.
The company has demonstrated resilience through focused cost management and strategic acquisitions enhancing scale and product range.

Considerations

Calumet remains exposed to cyclical risks inherent in the refining industry, including fluctuating commodity prices and demand uncertainty.
Leverage and volatility in earnings can increase due to sensitivity to crude oil market dynamics.
The refining and specialty products business faces regulatory and environmental compliance challenges that could impact costs.

About The Companies

Daqo New Energy (DQ)

Daqo New Energy Corp. (DQ) is a vertically integrated producer of high‑purity polysilicon used to make crystalline silicon photovoltaic (PV) wafers and cells. Headquartered in China and listed in the US, the company focuses on large‑scale, low‑cost production and process optimisation to supply the solar module industry. Investors track DQ for its direct exposure to the solar supply chain: rising global solar installations and tight polysilicon markets can lift revenues and margins, while oversupply or falling module prices can pressure earnings. With a market capitalisation around $1.76bn, Daqo can be more sensitive to quarter‑to‑quarter swings than larger industrial or utility names. Key considerations include production capacity ramps, silicon price dynamics, competitor capacity additions, and China‑linked regulatory or trade developments. This summary is for general educational purposes only and not personal investment advice — values can rise and fall and past performance is not a reliable guide to future returns.

Calumet (CLMT)

Calumet Specialty Products Partners LP is a US-based manufacturer and marketer of a diverse range of specialty hydrocarbon products. The company operates across three main segments: Specialty Products and Solutions, which creates items like waxes, solvents, and customised lubricating oils; Performance Brands, which markets high-performance products under names like Royal Purple and Bel-Ray; and Montana/Renewables. This latter segment is particularly noteworthy as it focuses on processing renewable feedstocks into products such as renewable diesel, sustainable aviation fuel, and renewable hydrogen. By serving both industrial and consumer-facing markets with traditional specialty products alongside a growing renewables business, Calumet holds an interesting position in the energy sector. As with any company, its performance can be influenced by market demand, commodity prices, and regulatory changes, so it's a stock worth understanding fully before making any decisions.

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Comparison Snapshot