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D-WAVE QUANTUM INC (1QBTS.MI) Stock Fundamental Analysis

BIT:1QBTS - Euronext Milan - US26740W1099 - Common Stock - Currency: EUR

16.125  +0.13 (+0.78%)

Fundamental Rating

3

1QBTS gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 100 industry peers in the Software industry. While 1QBTS seems to be doing ok healthwise, there are quite some concerns on its profitability. While showing a medium growth rate, 1QBTS is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

In the past year 1QBTS has reported negative net income.
1QBTS had a negative operating cash flow in the past year.
In the past 5 years 1QBTS always reported negative net income.
1QBTS had a negative operating cash flow in each of the past 5 years.
1QBTS.MI Yearly Net Income VS EBIT VS OCF VS FCF1QBTS.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2020 2021 2022 2023 2024 -50M -100M

1.2 Ratios

1QBTS has a Return On Assets of -40.54%. This is amonst the worse of the industry: 1QBTS underperforms 86.00% of its industry peers.
The Return On Equity of 1QBTS (-63.64%) is worse than 81.00% of its industry peers.
Industry RankSector Rank
ROA -40.54%
ROE -63.64%
ROIC N/A
ROA(3y)-134.18%
ROA(5y)-104.08%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
1QBTS.MI Yearly ROA, ROE, ROIC1QBTS.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2020 2021 2022 2023 2024 0 500 -500 -1K

1.3 Margins

1QBTS has a Gross Margin of 83.23%. This is in the better half of the industry: 1QBTS outperforms 79.00% of its industry peers.
In the last couple of years the Gross Margin of 1QBTS has declined.
1QBTS does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 83.23%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-4.4%
GM growth 5YN/A
1QBTS.MI Yearly Profit, Operating, Gross Margins1QBTS.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2020 2021 2022 2023 2024 0 -500 -1K -1.5K

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6

2. Health

2.1 Basic Checks

1QBTS does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, 1QBTS has more shares outstanding
The debt/assets ratio for 1QBTS has been reduced compared to a year ago.
1QBTS.MI Yearly Shares Outstanding1QBTS.MI Yearly Shares OutstandingYearly Shares Outstanding 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M
1QBTS.MI Yearly Total Debt VS Total Assets1QBTS.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2020 2021 2022 2023 2024 50M 100M 150M

2.2 Solvency

An Altman-Z score of 27.51 indicates that 1QBTS is not in any danger for bankruptcy at the moment.
1QBTS's Altman-Z score of 27.51 is amongst the best of the industry. 1QBTS outperforms 98.00% of its industry peers.
A Debt/Equity ratio of 0.15 indicates that 1QBTS is not too dependend on debt financing.
1QBTS has a better Debt to Equity ratio (0.15) than 70.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.15
Debt/FCF N/A
Altman-Z 27.51
ROIC/WACCN/A
WACC10.01%
1QBTS.MI Yearly LT Debt VS Equity VS FCF1QBTS.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2020 2021 2022 2023 2024 0 20M -20M 40M -40M 60M -60M

2.3 Liquidity

A Current Ratio of 20.73 indicates that 1QBTS has no problem at all paying its short term obligations.
1QBTS has a better Current ratio (20.73) than 97.00% of its industry peers.
A Quick Ratio of 20.61 indicates that 1QBTS has no problem at all paying its short term obligations.
1QBTS has a Quick ratio of 20.61. This is amongst the best in the industry. 1QBTS outperforms 97.00% of its industry peers.
Industry RankSector Rank
Current Ratio 20.73
Quick Ratio 20.61
1QBTS.MI Yearly Current Assets VS Current Liabilites1QBTS.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2020 2021 2022 2023 2024 50M 100M 150M

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6

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 52.45% over the past year.
Looking at the last year, 1QBTS shows a very strong growth in Revenue. The Revenue has grown by 121.58%.
Measured over the past years, 1QBTS shows a quite strong growth in Revenue. The Revenue has been growing by 12.02% on average per year.
EPS 1Y (TTM)52.45%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%80.83%
Revenue 1Y (TTM)121.58%
Revenue growth 3Y12.02%
Revenue growth 5YN/A
Sales Q2Q%508.56%

3.2 Future

Based on estimates for the next years, 1QBTS will show a quite strong growth in Earnings Per Share. The EPS will grow by 13.14% on average per year.
1QBTS is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 82.04% yearly.
EPS Next Y53.82%
EPS Next 2Y25.78%
EPS Next 3Y15.51%
EPS Next 5Y13.14%
Revenue Next Year170.81%
Revenue Next 2Y105.21%
Revenue Next 3Y88.18%
Revenue Next 5Y82.04%

3.3 Evolution

The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
1QBTS.MI Yearly Revenue VS Estimates1QBTS.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 50M 100M 150M 200M 250M
1QBTS.MI Yearly EPS VS Estimates1QBTS.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 -0.2 -0.4 -0.6

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0

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for 1QBTS. In the last year negative earnings were reported.
Also next year 1QBTS is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE N/A
Fwd PE N/A
1QBTS.MI Price Earnings VS Forward Price Earnings1QBTS.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 50 -50 -100

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
1QBTS.MI Per share data1QBTS.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 0.2 -0.2 0.4

4.3 Compensation for Growth

1QBTS's earnings are expected to grow with 15.51% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y25.78%
EPS Next 3Y15.51%

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0

5. Dividend

5.1 Amount

1QBTS does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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D-WAVE QUANTUM INC

BIT:1QBTS (7/18/2025, 7:00:00 PM)

16.125

+0.13 (+0.78%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)05-08 2025-05-08/bmo
Earnings (Next)08-07 2025-08-07/bmo
Inst Owners31.3%
Inst Owner ChangeN/A
Ins Owners0.75%
Ins Owner ChangeN/A
Market Cap5.04B
Analysts81.82
Price TargetN/A
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr YearsN/A
Div Non Decr YearsN/A
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)23.68%
Min EPS beat(2)14.34%
Max EPS beat(2)33.03%
EPS beat(4)3
Avg EPS beat(4)11.76%
Min EPS beat(4)-0.88%
Max EPS beat(4)33.03%
EPS beat(8)5
Avg EPS beat(8)1.46%
EPS beat(12)7
Avg EPS beat(12)-3.84%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)17.33%
Min Revenue beat(2)-4.07%
Max Revenue beat(2)38.73%
Revenue beat(4)1
Avg Revenue beat(4)-4.33%
Min Revenue beat(4)-27.66%
Max Revenue beat(4)38.73%
Revenue beat(8)1
Avg Revenue beat(8)-14.82%
Revenue beat(12)1
Avg Revenue beat(12)-17.77%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)N/A
PT rev (3m)N/A
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 274.77
P/FCF N/A
P/OCF N/A
P/B 28.3
P/tB 28.38
EV/EBITDA N/A
EPS(TTM)-0.22
EYN/A
EPS(NY)-0.13
Fwd EYN/A
FCF(TTM)-0.14
FCFYN/A
OCF(TTM)-0.14
OCFYN/A
SpS0.06
BVpS0.57
TBVpS0.57
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -40.54%
ROE -63.64%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 83.23%
FCFM N/A
ROA(3y)-134.18%
ROA(5y)-104.08%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-4.4%
GM growth 5YN/A
F-Score5
Asset Turnover0.07
Health
Industry RankSector Rank
Debt/Equity 0.15
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 171.34%
Cap/Sales 10.07%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 20.73
Quick Ratio 20.61
Altman-Z 27.51
F-Score5
WACC10.01%
ROIC/WACCN/A
Cap/Depr(3y)94.96%
Cap/Depr(5y)91.48%
Cap/Sales(3y)12.68%
Cap/Sales(5y)17.04%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)52.45%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%80.83%
EPS Next Y53.82%
EPS Next 2Y25.78%
EPS Next 3Y15.51%
EPS Next 5Y13.14%
Revenue 1Y (TTM)121.58%
Revenue growth 3Y12.02%
Revenue growth 5YN/A
Sales Q2Q%508.56%
Revenue Next Year170.81%
Revenue Next 2Y105.21%
Revenue Next 3Y88.18%
Revenue Next 5Y82.04%
EBIT growth 1Y3.24%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year152.96%
EBIT Next 3Y1.68%
EBIT Next 5YN/A
FCF growth 1Y-4.47%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-1.04%
OCF growth 3YN/A
OCF growth 5YN/A